Financial Independence and Legit Side Money Ideas For Techies and Geeks

Legit Side Money Ideas for Techies and Geeks

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Financial Independence and Legit Side Money Ideas For Techies and Geeks

Programmers, developers, software engineers, and other tech-savvy geeks are often some of the most financially independent people out there. That’s because they often have the skills to turn their side hustles into legit businesses that can generate significant income. In fact, many of the most successful tech entrepreneurs got their start by developing apps and selling them on popular app stores.

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Financial Independence and Legit Side Money Ideas For Techies and Geeks

But you don’t need to be a whiz kid to make good money from your technical skills. Even if you’re not interested in starting your own company, there are plenty of opportunities to freelance or consult on projects that can pay well. And with the global economy increasingly reliant on technology, those skills are in high demand. So if you’re looking to boost your income, consider using your geeky talents to earn some extra cash. Who knows, you might just find yourself becoming a millionaire in the process.

This blog is about Clever Questions, Answers, Posts, discussions, links about:

If you’re a programmer, developer, software engineer, geek, or computer scientist, then you know that financial independence is important. After all, who wants to be tied down to a job they hate just because they need the money? The good news is that there are plenty of legitimate side money ideas out there for techies and geeks. Here are just a few:

  1. Programmers can make money by developing new apps and selling them on app stores like Apple’s App Store or Google Play.
  2. Developers can create websites or online courses teaching others how to code or use specific software programs.
  3. Software engineers can offer consulting services to companies who need help designing or improving their systems.
  4. Geeks can start a blog about their favorite topic (technology, science fiction, gaming, etc.) and make money through advertising or affiliate sales.
  5. Computer scientists can develop new algorithms or sell their existing ones to companies willing to pay for them.

So if you’re looking for ways to make some extra cash on the side, don’t despair – there are plenty of options out there for you. Do some research and see which one might be the best fit for your skills and interests. With a little effort, you could be well on your way to financial independence in no time!


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Making money isn’t that big of a deal especially if a person is determined, The primary cause of poverty is ignorance and nothing else.

It stars with a burning desire to learn and your willingness to practice all you’ve learned and make the mistakes needed in other to get the a greater height, “that is how financial progression is achieved and sustained.”

in the aspect of making money online with a laptop, you can try out the following listed below….

  1. Affiliate Marketing.
  2. Selling on Amazon, eBay, Etsy, and Craigslist.
  3. Blogging.
  4. Niche E-commerce.
  5. Your Own YouTube Channel.
  6. Selling E-books.
  7. Develop Apps.
  8. Invest/trade cryptocurrency.

To be a master and be really successful in any of the listed, one has to first learn them before anything else goes.

And if you’re interested in cryptocurrency but too Busy and don’t have to time to learn, you can contact me I’ll teach you how a newbie trader can make profit in crypto quickly.

Legit Side Money Ideas on Quora

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  • Annuity to retire in 40s?
    by /u/physical_kid (Financial Independence / Retire Early) on February 1, 2023 at 3:49 pm

    I'm reading about annuities, and while the "guaranteed income for life" sounds great, I'm sure there are some catches. I see Fidelity offers one, but even with the max investment ($1M), the monthly payment with the 2% increase option is only $3300. So, let's just say $40K a year. Pretty much what one could get using the 4% withdrawal "rule". One big downside is inflation. As we've all seen, it can get a heck of a lot higher than 2%. I guess the annuity thing sounds a bit too good to be true, but wanted to get everyone's thoughts. submitted by /u/physical_kid [link] [comments]

  • Year 4 FIRE Update - Say Yes to (Almost) Anything
    by /u/hungn3 (Financial Independence / Retire Early) on February 1, 2023 at 2:30 pm

    With 2 years of life "on hold" during the pandemic, I decided to embrace a personal mantra of “Say Yes to (Almost) Anything” in 2022. I would let myself try new things regardless of cost or hesitation. I discovered a lot of new things that I love and also found a few I'll never do again. Overall, still loving the freedom and flexibility of FIRE life and trying to enjoy as much of it as possible. TLDR below, but encourage you to also read the body of the post for more details! TL;DR: 39/M SINK renting in the SF Bay Area, formerly in IT Consulting and FIRE'd in January 2019 with $1.1M Net worth decreased in 2022 from $1.90M to $1.50M as of January 1st Spent $39,000 out of $33,600 budget Did lots of “revenge travel”, spending 243 nights in 2022 away from home For further background, check out my original post and 3 updates: FIRE Post, Year 1 Update, Year 2 Update, Year 3 Update I’ve organized the rest of the post into the following sections: Say Yes to (Almost) Anything 2022 Highlights FIRE’d Life Finances 2023 Plans Say Yes to (Almost) Anything After two years of pandemic, I decided to adopt a mantra of “Say Yes to (Almost) Anything” (SYT(A)A). The (Almost) part is there to rule out things that are illegal and/or dangerous. I was partiailly inspired by u/MrLlamaSC with this post and decided the following: Instead of finding reasons to say no, I would look for reasons to say yes I did a LOT of new things in 2022, but the examples below focus on experiences I might have found excuses to say no to in the past. Burning Man This had been on my bucket list but had been hesitating to go because I didn’t think it would be a good experience for someone who doesn’t drink, much less do any drugs. I joined a camp and they had limited tickets. Initially I didn't get a ticket, but thanks to flexiblity being FIRE, I was able to secure a ticket just 3 weeks before the event . It isn’t hyperbole to say that it was one of the most impactful/meaningful experiences of my life and can’t wait to go back in 2023. The art, the community, and overall atmosphere is intoxicating and such a breath of fresh air compared to the "default world". Don't get me wrong, I don't think that this can be replicated outside of BM, and BM is far from a perfect experience with the environmental hazards and people who (IMHO) aren't embracing the 10 Burning Man Principles. But the event is so big that you can avoid those that you don't want to be around. I could probably write a novel on all of my Burning Man experiences but this isn't the time/place :-). If you have any specific questions about BM, lemme know and I’ll gladly answer them. Gay Ski Week I went snowboarding two times when I was in HS/College but had a miserable time, constantly falling and feeling like I made no progress. I thought that skiing would be the same and so I never picked it up. An acquaintance wanted to take a road trip and check out Gay Ski Week, so I said yes! This was double SYT(A)A event because I usually don't do "gay party" type of events. I was absolutely wrong about skiing. It was so much more fun than snowboarding, I picked it up quickly, and started doing some blue routes on the second day. I definitely would ski again, but would NOT do it in the context of gay ski week (there way too many vapid WeHo twinks, and the party scene is not my cup of tea). Also I would try mid-week to avoid crowds and cut down costs. As part of SYT(A)A, I decided to go take a 3 week trip with someone who I had only known for a few days (in person). Lesson learned, is that for travel, I need to make sure that I am more compatible with. After the first three days, I offered to pay to fly him home and cancel the rest of the trip because of how terribly it had started. We decided to continue and there were good parts, but there were some pretty awful parts of the trip and during the ski portion, I avoided him completely. Cruise to Alaska My mom had been asking me to go on a cruise with her for at least 15 years and I've been extremely hesitant. I hate the idea of a “catered” experience and also loathe the super restrictive schedules and super-touristy nature of cruise ships. But given this year's Mantra of SYT(A)A, the absolute worst case is that I get to spend 10 days with my mom. Turns out I didn't need to go on the cruise to know it wasn't for me. I’m glad to spend the time with my mom, but I don’t think I’ll ever take a cruise ever again in my life. Bedroom Adventures I won't go into specific details here, but I've been exploring a lot of new things in the bedroom (kinks, fetishes, people with different gender identities/sexual orientations). I've had a range of experiences from “so-so” to “amazing” and has overall been a very positive experience. I feel like without the SYT(A)A mentality, I would never have discovered things that I now really enjoy. As a side benefit, I am in high demand for a particular niche that I also happen to enjoy a lot, which is a major plus for my sex life 🙂 Given all of the positive experiences that went well, I want to keep the SYT(A)A mantra going forward and continue find reasons to say yes. What are some things you want to find say yes to, but haven't quite made the leap? 2022 Highlights Spelunked to the end of Catacombs Cave (and back 😀 ) at Lava Bed National Monument. There were some belly crawls with less than one foot tall ceilings with about 1-2" of wiggle room between your back and the ceiling. In some parts, I had to turn my head/helmet sideways to squeeze through 5 day trek in Pati Valley in Chapada Diamantina Climbed Via Dos Italianos (700ft) and K2 on Corcovado (400 ft) in Rio De Janeiro. I only had to hang once on the first pitch of Via Dos Italianos Led my first 5.10a, also led a 5.10b/c (both sport, and the 10b/c were very soft IMHO) and led my first multi-pitch route Did my first packraft trip (3 days). Unfortunately I forgot my hiking shoes, so ended up doing the trip in crocs… Ate at D.O.M. in Sao Paulo and Canvas in Bangkok Ate at countless amazing places in Thailand and Taiwan Visited the Channeled Scablands and learned about all the amazing geology/history of it Watched Everything Everywhere All At Once multiple times 🥯👀 Saw Six the Musical in NYC Read tons of great sci-fi - The Expanse 7-9, Three Body Problem Trilogy, and Memory of an Empire 1 and 2 Played 49 unique board games, 23 which were new to me, over 195 plays (Spirit Island, The Crew: Deep Sea Mission, and So Clover making up 57,29, and 22 plays respectively) Additionally, I have a small photo album of some of my favorite pictures I took this year: FIRE’d Life Revenge Travel Being cooped up so much for the past two years, I was very much itching to get some of that pent up travel energy out of my system and ended up doing a lot of travel! I spent 243 days away from home to be exact. All of this was with different friends/family with the exception of spending ~3 weeks solo in Brazil. Here’s the travel that I did last year: 3 week road trip to Vegas, Red Rocks, Death Valley, and Mammoth 6 week trip to Brazil 2 week road trip from SF to Seattle 4 day road trip around the Olympic Peninsula 10 days Alaska cruise and Denali Land Tour 9 days Visting friends in AK and Vancouver 10 day NYC and DC trip 30 days of outdoor climbing in various places 7 day road trip around Utah national parks 5 day board game convention 3 weeks in Thailand and Taiwan I tracked how many days I spent away from home, and categorized them by the type of accommodation that I had: Hotel/AirBnb 71 Family 69 Camp/Hipcamp 56 Friends 39 Vehicle (bus/plane) 6 Volunteer 2 Family/Friends I stayed at for free (mostly my sister in Brazil and my mom in Washington) and I treated people out to dinner and other things for letting me stay with them. Camping was a mix of state/federal/BLM/Hipcamp. Most of these are like $15-$25/campsite split usually among 2 or more people. Lastly the remainder is for Hotels/AirBnB’s. I used Marriott points for the expensive destinations like NYC and DC, but most of my nights were in cheaper locations like pousadas in Brazil, and inexpensive hotels in Thailand and Taiwan. Volunteering - Summer Camp Blues So I did not get accepted to join one summer camp despite previously getting the “MVP award” and praise from a variety of people. Initially I was devastated and was thinking about what I could do differently to get back. When I asked for feedback from one of the directors on how to be a better candidate for the next year, they gave me feedback that is factually incorrect. When I ran this by my co-counselor from the previous year to get a second opinion, they agreed and thought it was unfortunate that they were single-ing me out. The director citied "issues with my cabin" as a main reason for not being allowed back, but my co-counselor (in the same cabin) noted that they never received any feedback and were also invited back to volunteer. The root cause of this is that I provided them direct, but professional feedback on things that I think they should change. However, it is now apparent that it was not received well and they have twisted the series of events to fit their own narrative. After talking to others, it seems like the people in this organization are just looking for “Yes-people" and can’t take any form of constructive feedback. I haven’t been this disappointed in a long time, and because my other summer camp still not running in-person camp, it meant that I now had a big 2 month gap in my summer, and a hole in my heart that I needed to fill. I still haven't quite found a way to find a way to replace this, but what I do know, is that I need to go somewhere where my talents and skills are appreciated and I'm not gas-lit to think that I did something wrong. Finances Net Worth: Decreased from $1.90M to $1.50M (as of January 1st 2023) Asset Allocation of Net Worth 2022 Income Dividends from Taxable Accounts: $16.7K Long Term Capital Gains: -$4.9K. I tax lost harvested a few times (VTSAX to VFIAX) and withdrew some for additional cash on hand. Rollover 401K/IRA to Roth IRA conversion: $16K. I converted an extra $3K above the standard deduction, using $3K of capital losses, and will carry over $2K in losses for next year. Total AGI of: $29.7K Projected 2022 Taxes Federal: $100 State: $250 Expenses Overall, costs were $39K which is 16% above my planned expenses of $33,600 and represents a 2.6% withdrawal rate at my current NW. I hadn't changed my budget of $33,600 since I FIRE'ed in 2019 because I spent so little during pandemic. I have now increased my budget to $38K for 2023, which actually aligns with inflation adjustments. Table of planned and actual expenses Notable high ticket items: Gay Ski Week: $1000 (Doesn't include the AirBnB, just entry to the non-VIP events, lift tickets, and one day of ski lessons) Burning Man Outfits: $800. I plan to reuse outfits and hope to make some of my own in the future. You can certainly go without spending this much money, but I thought YOLO and just got a few pieces of clothing that I absolutely LOVED. Burning Man Costs: ~$1000 total - $500 for the ticket and ~$400-$500 for 8 days of camp costs (includes, food, water, transportation, and common camp supplies). Taiwan/Thailand Trip - Don't have an exact amount since we did lots of cash and points, but it was a decent portion of my travel budget 🙂 Health Insurance People always have questions and confusion about ACA and health insurance so I'll put this info out there again. I aim for hitting a AGI of $30K and that will get me a Silver 73 HMO with CSR ($30 drug deductible, $4750 non-drug deductible, and $7250 max OOP). In 2022 I paid $77/month and will be paying $28/month in 2023 because inflation significantly increased the FPL, but my AGI remained the same. 2023 Plans Learn to Trad and Aid climb with a longer term goal in 2024 is to swap leads on the South Face of Washington Column or something of similar scale/difficulty Get back into biking and do one bike touring trip. More road, camping, backpacking, and climbing trips Take an Amtrak train over a long distance - Empire Builder to Glacier, or California Zephyr Start (and finish?) Frosthaven campaign Attend the World Boardgaming Championship - I don’t expect to win any championship or even get any laurels, but just want to have some quality gameplay of some classic games Thanks to everyone who read through this and feel free to ask any questions in a comment and I'l try to answer as many as I can! 🙂 submitted by /u/hungn3 [link] [comments]

  • ACA Subsidies: FIRE Considerations
    by /u/beerion (Financial Independence / Retire Early) on February 1, 2023 at 12:39 pm

    TL;DR If we treat the loss of ACA subsidies as a 'tax', then our Effective Marginal Tax Rates may significantly impact how we do pre-retirement tax planning. Here is an example that might be more concise than this post. So I came across an interesting conundrum when running simulations for my current FIRE status. I figured I'd share, and see if I'm missing anything. Please note that all numbers in this post are for 2023, single filer. I've included a link to my Python script at the bottom if anyone wants to look it over (it's messy, but shouldn't be too hard to follow). Current Consensus We all know the general implications of ACA subsidies: if you're shooting for a withdrawal strategy that's less than 400% of the federal poverty level (FPL = $13,590 for single filer), then it's wise to attempt to suppress your MAGI in an effort to maximize the subsidy. The question is how should we alter our tax planning strategies, before retirement, to optimize the impact of the 'new' structure of healthcare subsidies. One way to look at it is similar to how we look at the federal tax rates. The common wisdom, of course, is that if you're in a higher tax bracket now than you project to be in retirement (i.e. 24% bracket now vs 10% bracket in retirement), then it's prudent to place those funds in a pretax account (IRA or 401(k)) to save that net 14%. I think the same exercise can be done for ACA subsidies: if we assume that the max possible subsidy is the baseline, then every dollar paid for ACA health insurance is effectively a 'tax'. But first, we need to understand how the subsidies are calculated. How are the ACA subsidies calculated Here is a great resource. About a quarter of the way down is this excerpt: For coverage effective anytime from 2021 through 2025, under the modified rules implemented by the American Rescue Plan and extended by the Inflation Reduction Act, subsidy-eligible enrollees who buy a plan in the exchange have to pay the following percentages of their income, after the subsidy is applied, for the benchmark plan: Income up to 150% of poverty = 0% (ie, the subsidy is enough to make the benchmark plan premium-free) 150% to 200% of poverty = 0% to 2% 200% to 250% of poverty = 2% to 4% 250% to 300% of poverty = 4% to 6% 300% to 400% of poverty = 6% to 8.5% 400% of poverty or higher = 8.5% ​ You can run through the example for Bob from the reference if you want to see exactly how we calculate the ACA cost if you land in between these income thresholds, but the important thing to take away is that this structure does not behave like the federal income tax bracket - for the ACA, every dollar you earn increases the percentage taken from all previous dollars. Here's an example: If you make 2x the FPL ($27,180), you'll be charged $543 for ACA insurance. If you increase your income to 2.5x FPL ($33,975), you'll be charged $1,359. What this means is that the last $6,795 of income cost you $816 in additional insurance premiums, or 12% on a marginal basis ($816 / $6,795). If you can't already tell, this can be quite impactful when you add this on top of the federal income tax. So while the ACA is not treated like a marginal tax, we can still solve for the effective marginal tax rate by income level - basically, how much does one more dollar of income increase our amount paid for ACA? Effective Marginal Tax Rates For reference, here is a graph of what the Federal Income Tax brackets look like if you charted them out. Note that this includes the standard deduction. Federal Income Tax Brackets Now, here are the effective marginal tax rates for the ACA, considering the effects of the subsidy by essentially performing the math exercise from above. ACA Marginal Tax Rates Notice that the lines are sloping. This is because the subsidy is a moving percentage of your income. Like the federal income tax, you should be able to find the area under the curve to calculate your total tax liability. To find our combined effective marginal tax rates, we just add these two curves together: Combined Marginal Tax Rates (Fed + ACA) And finally, here is the graph of the combined Fed and ACA payments in actual dollar amounts: Combined Gross Payments (Fed + ACA) The big takeaway for me is that beyond $25,000 of post retirement income, our marginal tax rate will increase beyond 20%, which, for many of us, will be pretty close to what our highest marginal tax rate is while we are working. This is equivalent to $625k in a 401(k) doing 4% Roth conversions (assuming you have no other sources of income). And for those that are shooting for a million dollar 401(k), that last dollar of a 4% withdrawal is taxed at a whopping 30%. What counts as income for the ACA? The ACA is based off of Modified Adjusted Gross Income (MAGI). MAGI will include virtually all sources of income. This includes Roth conversions, capital gains, rental include, etc. And there is no tax break for the standard deduction - all income is counted for the ACA. The only source of 'income' not included are plain Roth withdrawals. Implications for FIRE Planning This is certainly something to seriously consider if you are planning to do BaristaFI (or CoastFI) with income supplemented partially by both Roth conversions & a part time job. From what I can gather, this really levels the bar for the Roth vs Traditional debate once you hit a certain threshold in pretax accounts. Here is the link to the Python script I've also included the ability to account for capital gains tax. As you can probably gather, if capital gains are your sole source of income, the first $40k is free for federal income tax so the marginal rates equal the ACA marginal rate chart until capital gains tax kick in. So I didn't include it here. I imagine there is an optimization exercise one could run to figure out the perfect mix of pretax (with planned future roth conversions) plus capital gains. But I suspect, beyond the minimum federal poverty level income, it becomes increasingly advantageous to switch to Roth-only contributions while working. Anyway, let me know what you think. I'm sure I've made a pivotal error somewhere that makes this entire exercise a big nothing burger. I'd love to hear it. Also, I realize that the thresholds set for the ACA maximum premiums may not fully reflect the prices you see on the marketplace, and that we may be able to find cheaper deals. I haven't had to get coverage on the Marketplace yet, so I'd love to hear people's experience if the above doesn't line up with reality. submitted by /u/beerion [link] [comments]

  • End of January Event and the Early February Community Rules
    by /u/CripzyChiken (Financial Independence / Retire Early) on February 1, 2023 at 12:19 pm

    Hello everyone and Happy February! After an interesting and enlightening January event, we wanted to touch base real quick on what is going on here on the sub. The Mod team is currently talking about results from the last month, focusing a lot on the Feedback Survey, as well as our general feelings and thoughts on how things went. We didn't want to rush out with a rule change without ensuring that it is discussed at depth internally. Additionally, we didn't want to go back fully to what the rules were back in December. To help give some clarity for the next few days until we can get to a better long term solution, we wanted to update everyone on what is going to be the rules/enforcement for the near term future: "3 Reports to remove post and send to mod queue for human review" will be turned back on (note that once a mod takes an action on a post, the 3reports can no longer activate for that post). The karma filter will stay in place as is (a low amount of subreddit karma is required to post a new topic, no karma requirement for comments) The light/nonexistent enforcement of rules 5 and 6 will continue. Low effort and "better fit for a different sub" type posts will once again be removed (rules 1 and 4) and redirected to as is appropriate (daily discussion, FAQ/wiki, better sub, etc). We do want to clarify that these are NOT the long term rules. We are working on rewriting and rewording the rules based on feedback, but wanted to ensure the community knows what is expected until we can finish that, with an ECD of sometime this month. Thanks r/FI Mod Team submitted by /u/CripzyChiken [link] [comments]

  • Weekly Self-Promotion Thread - Wednesday, February 01, 2023
    by /u/AutoModerator (Financial Independence / Retire Early) on February 1, 2023 at 10:03 am

    Self-promotion (ie posting about projects/businesses that you operate and can profit from) is typically a practice that is discouraged in /r/financialindependence, and these posts are removed through moderation. This is a thread where those rules do not apply. However, please do not post referral links in this thread. Use this thread to talk about your blog, talk about your business, ask for feedback, etc. If the self-promotion starts to leak outside of this thread, we will once again return to a time where 100% of self-promotion posts are banned. Please use this space wisely. Link-only posts will be removed. Put some effort into it. submitted by /u/AutoModerator [link] [comments]

  • Daily FI discussion thread - Wednesday, February 01, 2023
    by /u/AutoModerator (Financial Independence / Retire Early) on February 1, 2023 at 10:02 am

    Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the FAQ for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. submitted by /u/AutoModerator [link] [comments]

  • For me, the most frustrating thing about losing my job is losing the ability to stick to the plan.
    by /u/Artificial_Squab (Financial Independence / Retire Early) on February 1, 2023 at 9:46 am

    I was recently laid off from big tech. I'm finding most of my sorrow/anger/frustration is coming from being knocked off the FI journey. Luckily, the FI journey has made it so I have a large cushion, but like so many of you the goal was never to use that cushion (so soon). Any words of encouragement for a down and out FI'er? Have you been here before? I recognize I'm lucky but it annoys me to no longer be able to drive towards the goal in the short term. submitted by /u/Artificial_Squab [link] [comments]

  • Strategies to hit FIRE number 5 years out from retirement with high savings rate and desire to RE on time at expense of growth
    by /u/SizzlerWA (Financial Independence / Retire Early) on February 1, 2023 at 5:12 am

    Here’s my current situation: Early 50s 5 years out from RE At 67% of my FIRE number in liquid investments Saving 8-10% of my FIRE number each year Planning for 35 year retirement At my FIRE number I can live very comfortably on 3.5% SWR (1.75% essentials, 1.75% fancy travel) Due to parents’ early death, my #1 goal is to RE at all costs I need to retire on time, I don’t care about missing out on gains. I realize I can’t time the market but I want to be more conservative the next 5 years then follow a rising equity glide path after retirement. I’m currently heavily into equities and the possibility of a major market drop in 2023 is making me sweat. My advisor can’t seem to suggest much more than some vague notion of “fixed income” and I’m considering dropping them. I can hit my target at 0% returns the next 5 years with just savings alone, so why chase higher returns when I don’t need them? I could just lock in a bunch of 4-5 year CDs at 4.5% but what are other strategies given that bonds are doing poorly? How can I maximize the chance of not missing my RE date while retaining some upside? Thanks! submitted by /u/SizzlerWA [link] [comments]

  • Should I drain my investment to pay off half of my debt?
    by /u/waxing-mystic (Financial Independence / Retire Early) on February 1, 2023 at 3:52 am

    Hey all, I’ve got 25k in debt and 25k in student loans. I landed a job that pays well so I’ve made a budget, but I’ve got to do it again since it makes no sense, but I think I can roughly pay off 1k/month to the debt (give or take when student loans come out and if I’m actually budgeting correctly) I’ve got about 20k in investments and about 2k emergency fund. Should I drain my investment to pay off my debt? submitted by /u/waxing-mystic [link] [comments]

  • Is this a real Roth IRA? And other investing uncertainties
    by /u/grassland-seas (Financial Independence / Retire Early) on January 31, 2023 at 11:17 pm

    Hi! This may be rather basic but I’m a bit new to FIRE concepts. I’ve been steadily investing 15% of each paycheck into my employer 401K, 7% to pre-tax and 8% to Roth. My employer matches up to 4% as well, so this amounts to about a $600 contribution a month. I also automatically invest $150 per month into an individual investment account. My main question is, is my employer Roth IRA the same as an actual Roth IRA, or should I open up a separate one and contribute more to that? I see a lot of posts about the benefits of Roth IRAs on this sub and I’m not sure what I’m doing is basically the same thing. Also, is there anything I can do differently to better optimize FIRE? For example, should I invest that extra $150 a month straight into my 401k instead of a separate account? Thanks I’m advance! Let me know if more info is needed to answer this. Edit: This has been very helpful! I’ve decided to open up a Roth IRA, roll the maximum from my individual investment account into it, and continue investing from there. Thank you! Edit 2: just realized I meant to say $600 biweekly contributions, so that’ll actually be $1200 per month to the 401k submitted by /u/grassland-seas [link] [comments]

  • What about healthcare?
    by /u/physical_kid (Financial Independence / Retire Early) on January 31, 2023 at 7:36 pm

    I'm probably going to get laid off from my current job this summer, and am wondering what to do. Work part time? New career all together? Retire? If I really wanted to, I think I have enough money saved to retire. No debt, and I own my house. The one gotcha is healthcare? I've always been covered by my employer, so not sure what to do about that. I'm assuming any decent policy would eat up a lot of my monthly income. BTW, I'm 43. submitted by /u/physical_kid [link] [comments]

  • Passive income Strategies
    by /u/Sensitive-Custard-37 (Financial Independence / Retire Early) on January 31, 2023 at 6:51 pm

    Hey everyone, I’m married and in my twenties. My wife and I earned a lil over 100k a year together and I was wondering what are some way to generate passive income without hindering our current jobs. I am currently in sales and she is a teacher. I appreciate everyone’s feedback! submitted by /u/Sensitive-Custard-37 [link] [comments]

  • Invest HSA funds or wait to rollover?
    by /u/Hotsummers15 (Financial Independence / Retire Early) on January 31, 2023 at 6:40 pm

    My employer switched HSA providers this year. My old HSA had ~3600 in it. I opened a fidelity account and rolled over the old account into it and invested it in index funds. I am now contributing to my new employer HSA account, enough to max it out by the end of the year. Should I invest those funds monthly or wait until the end of 2023 to roll the cash into my fidelity account and invest then. If I invest the funds now, I’m worried about having to sell them in the future. submitted by /u/Hotsummers15 [link] [comments]

  • Taboo Topic- 401(k) withdrawal for real estate investing
    by /u/Starrving4More (Financial Independence / Retire Early) on January 31, 2023 at 6:12 pm

    We've all seen the models and read the thousands of articles that say not to touch your 401(k) until you need to in retirement. However, we also don't have a lot of control of how that money is invested and the accounts gets hit with management fees each quarter regardless of how it performs. I am considering cashing out my 401(k) most of which is a ROTH 401(k) to purchase more real estate. I own a duplex (live in one side and rent the other) and I almost live rent free. I've seen much more advantages and bigger returns from my $17K down payment on my duplex than I ever have in my 401(k). Between cash flow and tax advantages, I am seriously considering getting more aggressive with real estate. Cashing out my 401(k) is something I would've never considered, even a year ago. But looking at projections of what my balance will be in 30 years versus cash flow and equity of real estate 30 years from now and I'll say I'm starting to believe that all the hype of the 401(k) is just so the financial institutions can hold on to your cash and leverage it instead of you doing it for yourself. It is so ingrained in us to not touch our 401(k)s that I get sick when I think of it, until I look at what that money could do in real estate. Even with taking the 10% fee and paying taxes. So, has anyone here done this?! submitted by /u/Starrving4More [link] [comments]

  • Anyone provide on-going or one-time financial help to family that is not a spouse or child?
    by /u/bingbangbio (Financial Independence / Retire Early) on January 31, 2023 at 5:02 pm

    TLDR: Just wondering how much support and in what forms and to what ends y’all provide to siblings or parents, if any. Thinking about shifting some of the burden of my siblings education, living, and retirement (for a time while they get started) costs from my parents to myself. My sibling not getting this support is a deal breaker for them. And my parents would never ask me while they could do it on their own, which they can. But they’re also coming up on nearly 45 years of mostly manual labor and they deserve a break. The goal would be to set my sibling off on good start and help my parents sure up a more comfortable retirement. Just mulling over some ideas to get the best life for the four of us and figured I’d ask. submitted by /u/bingbangbio [link] [comments]

  • Will using tools to track my FI journey help me get there sooner
    by /u/mariya198888 (Financial Independence / Retire Early) on January 31, 2023 at 12:01 pm

    The way I currently keep an eye on my FI journey is pretty open ended to say the least. I know more or less what my FI number is, I keep a general eye on my savings rate each month and I know my net worth. So I would say I have a very rough idea of when I might hit my FI goal and that's about it. I definitely don't track my journey or progress on a granular level. I saw a post on here the other month about a FI setup or stack someone used to keep a very close eye on their journey which semi inspired me to ramp up my tracking in the hope this could help me optimize and understand what changes I can make in my life to reach my FI goal sooner. and generally being able to see my progress will also probably motivate me more too. Do people 1) agree with the premise that ramping up the tracking will have a positive impact on my time to FI. 2) what tools do people recommend to start tracking? Topia was mentioned as a tracking tool in the post I read re someone's FI setup but I don't see it as a recommended tool in the sidebar which concerned me a little submitted by /u/mariya198888 [link] [comments]

  • Daily FI discussion thread - Tuesday, January 31, 2023
    by /u/AutoModerator (Financial Independence / Retire Early) on January 31, 2023 at 10:02 am

    Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the FAQ for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. submitted by /u/AutoModerator [link] [comments]

  • A person who maxes their Roth IRA for 10 years then stops will most likely have more money than someone who waits ten years then invests for 30 years straight in most 40-year historical return/inflation windows between 1926 and 2022
    by /u/spydormunkay (Financial Independence / Retire Early) on January 31, 2023 at 4:03 am

    This is an expansion of my post from yesterday: https://www.reddit.com/r/financialindependence/comments/10ol1vx/a_person_who_saves_for_a_decade_in_their_roth_ira/ I realized my original hypothesis may not be possible due sequence of returns risk as many have mentioned. Just using returns of 97-year window between 1926 and 2022 it already showed Portfolio 2 beating Portfolio 1, but it took 42 years to do it. And most of you probably won't work for 42 years, I hope. So I decided to work on a smaller hypothesis on whether a person who maxes their Roth IRA for 10 years then stops will have more money than someone who waits 10 years to invest then invests for 30 years, which was the original inspiration of my previous post. Findings: Using historic S&P 500 returns and inflation data, I found that about 2/3 of the 40-year windows between 1926 and 1975 had Portfolio 1 (the one who invests first) beating Portfolio 2, particularly the windows starting in 1926 to 1952 and 1971 to 1983, which is about 40 of the 58 possible 40-year windows. Don't have exact numbers because I didn't do all 58 windows. I do this stuff by hand on Excel. The periods that didn't follow this pattern were the windows starting in 1953 to 1970, which experience the brunt of the Great Inflation, particularly when Portfolio 2 is starting to invest. Generally speaking, one-year abnormal returns and inflation periods don't affect numbers too much. It's the multi-year periods of bad returns or inflation that can really affect the results. Bottomline: Invest early. If you're in the middle of a Great Inflation / period of low returns, don't stop investing. Sources: S&P 500 Returns: https://www.slickcharts.com/sp500/returns Inflation Data: https://www.usinflationcalculator.com/inflation/historical-inflation-rates/ 1983-2022 Window: Years Portfolio 1 Annual Savings 1 Investment Returns Portfolio 2 Annual Savings 2 Investment Returns 2 Portfolio 2 Pct of Portfolio 1 Nominal Returns Inflation Year 1 6,500.00 6,500.00 1,466.40 0.00 0.00 0.00% 22.56% 3.2% Year 2 14,674.40 6,708.00 920.08 0.00 0.00 0.00% 6.27% 4.3% Year 3 22,590.93 6,996.44 7,168.10 0.00 0.00 0.00% 31.73% 3.6% Year 4 37,007.35 7,248.32 6,909.27 0.00 0.00 0.00% 18.67% 1.9% Year 5 51,302.65 7,386.03 2,693.39 0.00 0.00 0.00% 5.25% 3.6% Year 6 61,647.97 7,651.93 10,239.73 0.00 0.00 0.00% 16.61% 4.1% Year 7 79,853.36 7,965.66 25,305.53 0.00 0.00 0.00% 31.69% 4.8% Year 8 113,506.90 8,348.01 -3,518.71 0.00 0.00 0.00% -3.10% 5.4% Year 9 118,786.99 8,798.80 36,194.40 0.00 0.00 0.00% 30.47% 4.2% Year 10 164,149.75 9,168.35 12,508.21 0.00 0.00 0.00% 7.62% 3.0% Year 11 176,657.96 17,807.12 9,443.41 9,443.41 951.90 5.35% 10.08% 3.0% Year 12 194,465.08 2,566.94 20,122.01 9,726.71 265.61 10.35% 1.32% 2.6% Year 13 197,032.02 74,044.63 30,367.22 9,979.60 11,412.00 15.41% 37.58% 2.8% Year 14 271,076.65 62,239.20 52,038.25 10,259.03 11,947.98 19.20% 22.96% 3.0% Year 15 333,315.85 111,194.17 74,553.04 10,566.80 24,870.89 22.37% 33.36% 2.3% Year 16 444,510.02 127,040.96 110,233.77 10,809.84 31,504.81 24.80% 28.58% 1.6% Year 17 571,550.98 120,254.33 152,721.37 10,982.80 32,132.58 26.72% 21.04% 2.2% Year 18 691,805.30 -62,954.28 196,078.37 11,224.42 -17,843.13 28.34% -9.10% 3.4% Year 19 628,851.02 -74,770.39 189,841.28 11,606.05 -22,572.13 30.19% -11.89% 2.8% Year 20 554,080.64 -122,451.82 179,200.17 11,931.02 -39,603.24 32.34% -22.10% 1.6% Year 21 431,628.81 123,791.14 151,718.84 12,121.91 43,512.96 35.15% 28.68% 2.3% Year 22 555,419.96 60,429.69 207,632.53 12,400.72 22,590.42 37.38% 10.88% 2.7% Year 23 615,849.65 30,238.22 242,958.48 12,735.54 11,929.26 39.45% 4.91% 3.4% Year 24 646,087.87 102,017.27 268,056.29 13,168.54 42,326.09 41.49% 15.79% 3.2% Year 25 748,105.14 41,070.97 323,972.31 13,589.94 17,786.08 43.31% 5.49% 2.8% Year 26 789,176.12 -291,995.16 355,728.85 13,970.46 -131,619.67 45.08% -37.00% 3.8% Year 27 497,180.95 131,554.08 238,610.51 14,501.33 63,136.34 47.99% 26.46% -0.4% Year 28 628,735.03 94,687.50 316,190.17 14,443.33 47,618.24 50.29% 15.06% 1.6% Year 29 723,422.53 15,264.22 378,482.84 14,674.42 7,985.99 52.32% 2.11% 3.2% Year 30 738,686.74 118,189.88 401,612.83 15,144.00 64,258.05 54.37% 16.00% 2.1% Year 31 856,876.62 277,542.34 481,332.91 15,462.03 155,903.73 56.17% 32.39% 1.5% Year 32 1,134,418.96 155,301.96 652,930.59 15,693.96 89,386.20 57.56% 13.69% 1.6% Year 33 1,289,720.92 17,798.15 758,261.85 15,945.06 10,464.01 58.79% 1.38% 0.1% Year 34 1,307,519.07 156,379.28 784,686.87 15,961.01 93,848.55 60.01% 11.96% 1.3% Year 35 1,463,898.35 319,569.01 894,703.91 16,168.50 195,313.86 61.12% 21.83% 2.1% Year 36 1,783,467.35 -78,115.87 1,106,525.82 16,508.04 -48,465.83 62.04% -4.38% 2.4% Year 37 1,705,351.48 537,015.18 1,074,964.22 16,904.23 338,506.23 63.03% 31.49% 1.8% Year 38 2,242,366.67 412,595.47 1,430,678.95 17,208.51 263,244.93 63.80% 18.40% 1.2% Year 39 2,654,962.13 762,239.63 1,711,338.89 17,415.01 491,325.39 64.46% 28.71% 4.7% Year 40 3,417,201.76 -618,855.24 2,220,897.80 18,233.51 -402,204.59 64.99% -18.11% 8.0% 1958-1997 Window: Years Portfolio 1 Annual Savings 1 Investment Returns Portfolio 2 Annual Savings 2 Investment Returns 2 Portfolio 2 Pct of Portfolio 1 Nominal Returns Inflation Year 1 6,500.00 6,500.00 2,818.40 0.00 0.00 0.00% 43.36% 2.8% Year 2 16,000.40 6,682.00 1,913.65 0.00 0.00 0.00% 11.96% 0.7% Year 3 24,642.82 6,728.77 115.82 0.00 0.00 0.00% 0.47% 1.7% Year 4 31,601.81 6,843.16 8,497.73 0.00 0.00 0.00% 26.89% 1.0% Year 5 47,011.13 6,911.59 -4,104.07 0.00 0.00 0.00% -8.73% 1.0% Year 6 49,887.77 6,980.71 11,374.41 0.00 0.00 0.00% 22.80% 1.3% Year 7 68,333.64 7,071.46 11,261.38 0.00 0.00 0.00% 16.48% 1.3% Year 8 86,758.41 7,163.39 10,801.42 0.00 0.00 0.00% 12.45% 1.6% Year 9 104,837.83 7,278.00 -10,546.69 0.00 0.00 0.00% -10.06% 2.9% Year 10 101,780.21 7,489.07 24,406.90 0.00 0.00 0.00% 23.98% 3.1% Year 11 126,187.11 13,956.29 7,721.23 7,721.23 853.97 6.12% 11.06% 4.2% Year 12 140,143.40 -11,912.19 16,620.71 8,045.52 -1,412.76 11.86% -8.50% 5.5% Year 13 128,231.21 5,142.07 23,695.97 8,488.02 950.21 18.48% 4.01% 5.7% Year 14 133,373.29 19,085.72 33,618.02 8,971.84 4,810.74 25.21% 14.31% 4.4% Year 15 152,459.00 28,936.72 47,795.36 9,366.60 9,071.56 31.35% 18.98% 3.2% Year 16 181,395.72 -26,592.61 66,533.25 9,666.33 -9,753.77 36.68% -14.66% 6.2% Year 17 154,803.11 -40,976.38 67,045.12 10,265.64 -17,746.84 43.31% -26.47% 11.0% Year 18 113,826.73 42,343.54 60,693.14 11,394.86 22,577.85 53.32% 37.20% 9.1% Year 19 156,170.27 37,230.99 95,702.78 12,431.80 22,815.54 61.28% 23.84% 5.8% Year 20 193,401.26 -13,886.21 131,671.16 13,152.84 -9,453.99 68.08% -7.18% 6.5% Year 21 179,515.05 11,776.19 136,224.95 14,007.78 8,936.36 75.88% 6.56% 7.6% Year 22 191,291.24 35,274.10 160,233.67 15,072.37 29,547.09 83.76% 18.44% 11.3% Year 23 226,565.34 73,452.48 206,556.31 16,775.54 66,965.55 91.17% 32.42% 13.5% Year 24 300,017.82 -14,730.88 292,562.10 19,040.24 -14,364.80 97.51% -4.91% 10.3% Year 25 285,286.95 61,479.34 299,198.69 21,001.39 64,477.32 104.88% 21.55% 6.2% Year 26 346,766.28 78,230.47 385,979.48 22,303.47 87,076.97 111.31% 22.56% 3.2% Year 27 424,996.76 26,647.30 496,073.64 23,017.18 31,103.82 116.72% 6.27% 4.3% Year 28 451,644.06 143,306.66 551,184.38 24,006.92 174,890.80 122.04% 31.73% 3.6% Year 29 594,950.71 111,077.30 750,946.35 24,871.17 140,201.68 126.22% 18.67% 1.9% Year 30 706,028.01 37,066.47 916,491.76 25,343.72 48,115.82 129.81% 5.25% 3.6% Year 31 743,094.48 123,427.99 990,863.67 26,256.10 164,582.46 133.34% 16.61% 4.1% Year 32 866,522.48 274,600.97 1,182,778.73 27,332.60 374,822.58 136.50% 31.69% 4.8% Year 33 1,141,123.45 -35,374.83 1,586,245.87 28,644.56 -49,173.62 139.01% -3.10% 5.4% Year 34 1,105,748.62 336,921.61 1,567,263.62 30,191.37 477,545.22 141.74% 30.47% 4.2% Year 35 1,442,670.23 109,931.47 2,076,268.25 31,459.41 158,211.64 143.92% 7.62% 3.0% Year 36 1,552,601.70 156,502.25 2,266,883.08 32,403.19 228,501.81 146.01% 10.08% 3.0% Year 37 1,709,103.95 22,560.17 2,528,760.18 33,375.28 33,379.63 147.96% 1.32% 2.6% Year 38 1,731,664.12 650,759.38 2,596,382.85 34,243.04 975,720.68 149.94% 37.58% 2.8% Year 39 2,382,423.50 547,004.44 3,607,305.38 35,201.85 828,237.31 151.41% 22.96% 3.0% Year 40 2,929,427.94 977,257.16 4,471,800.60 36,257.90 1,491,792.68 152.65% 33.36% 2.3% submitted by /u/spydormunkay [link] [comments]

  • May not be FIRE yet, but quitting my job never felt better.
    by /u/PM_ME_YOUR_PRINTS (Financial Independence / Retire Early) on January 30, 2023 at 1:51 pm

    I’ve been saving up for FIRE for a while now. 3 years ago I took a job that was a pay cut to 90k/yr but it promised professional growth. It was great at first, but after 4 different presidents and 6 supervisor changes, the job became less fulfilling. My job is very niche, and not many people understand the extent of my role. However, I’m always in demand and it is just me in my department(minus the overseas contractors I manage). Lately I’ve been having to defend my job and it felt like they were trying to find a way to fire me. Anyways woke up one morning and knew I didn’t want to do this anymore. I looked at my finances and realized I could go without a paycheck for 6months on my emergency fund alone. When I put in my resignation letter, a huge weight was lifted off my shoulder. I was happy again for the first time in 6 months. I may not have enough to retire yet but damn does it feel good to not be at the mercy of a company just to survive. The rest of this is just a rant so feel free to stop here. The kicker, during a meeting with my boss to discuss who will replace me. They said that they couldn’t find anyone to replace me as they wouldn’t go for the salary I’m paid. I gave my boss the look of “Gee I wonder why”. Raises have been dangled in front of me my entire time here with the company. I’ve saved the company potentially millions of dollars in lost revenue and losing a new contract by gapfilling slots in our overseas contractors rotations. Recently saved $250k by meeting a extremely tight deadline. Basically we promised our customer a new aircraft every month. Each month we don’t send them a new plane, we lose out on $250k on our contract. Hats off to the person who over promised. We still have 3 more aircraft to go. Anyways, after 3 years of bending over backwards for no recognition and having to defend my job it is time to let the company see how important my role is. submitted by /u/PM_ME_YOUR_PRINTS [link] [comments]

  • Daily FI discussion thread - Monday, January 30, 2023
    by /u/AutoModerator (Financial Independence / Retire Early) on January 30, 2023 at 10:02 am

    Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the FAQ for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. submitted by /u/AutoModerator [link] [comments]

  • Weekly “Help Me FIRE!” thread. Post your detailed information for highly specific advice - January 30, 2023
    by /u/AutoModerator (Financial Independence / Retire Early) on January 30, 2023 at 10:01 am

    Need help applying broader FIRE principles to your own situation? We’re here for you! Post your detailed personal “case study” and ask as many questions as you like, or help others who’ve done the same. Not sure if your questions pertain? Post them anyway…you might be surprised. It’ll be helpful to use our suggested format. Simply copy/paste/fill in/etc. But since everybody’s situation is different, feel free to tailor your layout to your needs. -Introduce yourself -Age / Industry / Location -General goals -Target FIRE Age / Amount / Withdrawal Rate / Location -Educational background and plans -Career situation and plans -Current and future income breakdown, including one-time events -Budget breakdown -Asset breakdown, including home, cars, etc. -Debt breakdown -Health concerns -Family: current situation / future plans / special needs / elderly parents -Other info -Questions? submitted by /u/AutoModerator [link] [comments]

  • Weekly FI Monday Milestone thread - January 30, 2023
    by /u/AutoModerator (Financial Independence / Retire Early) on January 30, 2023 at 10:00 am

    Please use this thread to post your milestones, humblebrags and status updates which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. submitted by /u/AutoModerator [link] [comments]

  • Should I follow my heart and retire now? Or spend a few more years making money
    by /u/CoraPatel (Financial Independence / Retire Early) on January 30, 2023 at 1:49 am

    I can use you brilliant pragmatists out there to balance my heart that is yelling at me to retire now (indefinitely). I’m a single 33M, and I make a good living in a job that isn’t too stressful and I mostly enjoy. I make 190k base, 25k bonus, and 120k RSU per year. NW is broken down below. I had the fortune of working remotely for two years during COVID, which I worked from all over the world and loved every second of it. Though, I’m forced back to the office now. Travel, experiences, and meeting people are my passion. Additionally, I don’t feel a positive social impact in my job. My heart is telling me to quit work, to travel and find times to volunteer at places which I can make more of an impact. The question is: do I do this now, or do I take advantage of a job that pays well with low stress for a few more years to support my NW and FIRE plan. 3 or 4 more years alone could really improve my quality of life when I retire, and it feels unintelligent to give up that chance. But not retiring means giving up some of my youth when my body can support me in the activities that I love and will do full time when I retire. There’s no guarantee I’ll find a job that pays this well in the future if I decide to go back to work, but there’s also no guarantee I live to a ripe old age either which I would need the money. NW breakdown: 710k index funds 200k individual stock 300k 401k/IRA 26k Roth IRA 9k Roth 401k 70k assets 1.315M Total I also just started aggressively mega backdoor Roth investing to completely max out the annual 66k cumulative limit since my company supports it. Another benefit to work a few more years. To anyone who made it this far to my post, I appreciate you reading to the end. Just typing this all out has helped me think things through more. Any comments are appreciated. submitted by /u/CoraPatel [link] [comments]

  • Investing options for US citizens resident in EU
    by /u/No-Working-220 (Financial Independence / Retire Early) on January 30, 2023 at 12:39 am

    I'm a dual citizen, originally from EU but currently living in California. I'm planning to go back permanently to EU in about 1.5 years. I just learned that if I'm an EU resident I cannot buy ETFs in US. The only option is keeping an US address and not inform the brokerage that I moved to EU but this doesn't seem sustainable for a permanent move. Also, this could complicate my situation since I need to show that I'm not resident of California otherwise I'll keep paying state taxes. I'm trying to figure out what to do to prepare for this. My expectations is that I would need to withdraw regularly probably after 5 years but that dependents on my work situation too. I could potentially FIRE but I would not if I don't need to. I have these options in mind. 1) option 1: keep the same portfolio. Rebalance it before converting it to an international account (e.g. using Schwab). Stop dividend reinvestment. Since I cannot buy I cannot explicitly rebalance the portfolio. If I'm in a withdrawal phase then I could withdraw the right assets to keep the portfolio balanced. But if I don't need to withdraw then I need another strategy. I could sell stock ETFs that go up and convert them in eur and buy some CDs or something else less correlated to stock as real estate investment or gold. Or I could buy individual bonds (not ETFs) 2) convert my portfolio to a target fund but this is not optimal because my portfolio has a different composition as compared to traditional target funds. I also know that a target fund in a taxed account could trigger big capital gains when they do some kind of rebalancing. 3) just keep the portfolio as it is and forget about rebalancing. It means that in the accumulation phase I will not get the benefit of having uncorrelated assets (i.e. sell what goes well and buy stocks that are low). It also means that whatever savings I accumulate from another job I would need to invest them differently like real estate or something that does not break the EU and US rules. Any other advice to share? submitted by /u/No-Working-220 [link] [comments]

  • A person who saves for a decade in their Roth IRA then stops will always have more money than a person who waits a decade to save in their Roth IRA then saves for the rest of their life, until infinity, until the end of time
    by /u/spydormunkay (Financial Independence / Retire Early) on January 29, 2023 at 10:43 pm

    Someone on PF made a post about how someone who saves in their Roth IRA for ten years then stops will always have more money than someone who waits ten years, then saves for 30 years. (can someone link that post) Well, this is a logical expansion of that post because that's true until infinity and the end of time. I have a chart that shows this for 100 years to fit in a Reddit post, but you can extend this until infinity (or until Excel breaks) and it'll still be true. This is due to compound interest in that by the 10-year mark, the portfolio of the first person will have grown so much that its returns now outpace the Roth IRA contribution limit and so that it's basically impossible for the second person to exceed the first person by force of math. That assumes they make mostly the same investments, of course. This will vary depending on your expected rate of return, 8% works out to need 10 years. A higher rate of return needs less. A 7% expected return will require 11 years of savings from Portfolio 1 for it to be true. As returns go lower, it requires more years of initial saving. You can logically expand this to include any type of account or saving. This is also evidence that savings from your first decade and the compound interest on top of that will comprise of the majority of your portfolio, even for an infinite amount of time. Bottomline: Start saving early And when you are at FIRE, don't wait another year (or rather you don't have to work, do part-time or coast to let your investments do the work) EDIT: For those wondering why I didn't account for inflation in annual saving columns, I do via the rate of return. 8% is a real return, net of inflation. And yes, upon looking at this again, this doesn't account for sequence of returns risk. A calculation fully accounting for variable returns over time is beyond my capability. This was meant to be a simple post expanding upon the previous post on PF. Updated formatting Years Portfolio 1 Annual Savings 1 Expected Rate of Return 1 Portfolio 2 Annual Savings 1 Expected Rate of Return 2 Portfolio 2 Pct of Portfolio 1 Inflation Year 1 6,500.00 6,500.00 8% 0.00 8% 0.00% 0% Year 2 13,520.00 6,500.00 8% 0.00 8% 0.00% 0% Year 3 21,101.60 6,500.00 8% 0.00 8% 0.00% 0% Year 4 29,289.73 6,500.00 8% 0.00 8% 0.00% 0% Year 5 38,132.91 6,500.00 8% 0.00 8% 0.00% 0% Year 6 47,683.54 6,500.00 8% 0.00 8% 0.00% 0% Year 7 57,998.22 6,500.00 8% 0.00 8% 0.00% 0% Year 8 69,138.08 6,500.00 8% 0.00 8% 0.00% 0% Year 9 81,169.13 6,500.00 8% 0.00 8% 0.00% 0% Year 10 94,162.66 6,500.00 8% 0.00 8% 0.00% 0% Year 11 101,695.67 8% 6,500.00 6,500.00 8% 6.39% 0% Year 12 109,831.32 8% 13,520.00 6,500.00 8% 12.31% 0% Year 13 118,617.83 8% 21,101.60 6,500.00 8% 17.79% 0% Year 14 128,107.25 8% 29,289.73 6,500.00 8% 22.86% 0% Year 15 138,355.83 8% 38,132.91 6,500.00 8% 27.56% 0% Year 16 149,424.30 8% 47,683.54 6,500.00 8% 31.91% 0% Year 17 161,378.25 8% 57,998.22 6,500.00 8% 35.94% 0% Year 18 174,288.50 8% 69,138.08 6,500.00 8% 39.67% 0% Year 19 188,231.59 8% 81,169.13 6,500.00 8% 43.12% 0% Year 20 203,290.11 8% 94,162.66 6,500.00 8% 46.32% 0% Year 21 219,553.32 8% 108,195.67 6,500.00 8% 49.28% 0% Year 22 237,117.59 8% 123,351.32 6,500.00 8% 52.02% 0% Year 23 256,086.99 8% 139,719.43 6,500.00 8% 54.56% 0% Year 24 276,573.95 8% 157,396.98 6,500.00 8% 56.91% 0% Year 25 298,699.87 8% 176,488.74 6,500.00 8% 59.09% 0% Year 26 322,595.86 8% 197,107.84 6,500.00 8% 61.10% 0% Year 27 348,403.53 8% 219,376.47 6,500.00 8% 62.97% 0% Year 28 376,275.81 8% 243,426.58 6,500.00 8% 64.69% 0% Year 29 406,377.87 8% 269,400.71 6,500.00 8% 66.29% 0% Year 30 438,888.10 8% 297,452.77 6,500.00 8% 67.77% 0% Year 31 473,999.15 8% 327,748.99 6,500.00 8% 69.15% 0% Year 32 511,919.08 8% 360,468.91 6,500.00 8% 70.42% 0% Year 33 552,872.61 8% 395,806.42 6,500.00 8% 71.59% 0% Year 34 597,102.42 8% 433,970.93 6,500.00 8% 72.68% 0% Year 35 644,870.61 8% 475,188.61 6,500.00 8% 73.69% 0% Year 36 696,460.26 8% 519,703.70 6,500.00 8% 74.62% 0% Year 37 752,177.08 8% 567,779.99 6,500.00 8% 75.48% 0% Year 38 812,351.25 8% 619,702.39 6,500.00 8% 76.29% 0% Year 39 877,339.35 8% 675,778.59 6,500.00 8% 77.03% 0% Year 40 947,526.50 8% 736,340.87 6,500.00 8% 77.71% 0% Year 41 1,023,328.62 8% 801,748.14 6,500.00 8% 78.35% 0% Year 42 1,105,194.91 8% 872,387.99 6,500.00 8% 78.94% 0% Year 43 1,193,610.50 8% 948,679.03 6,500.00 8% 79.48% 0% Year 44 1,289,099.34 8% 1,031,073.36 6,500.00 8% 79.98% 0% Year 45 1,392,227.29 8% 1,120,059.22 6,500.00 8% 80.45% 0% Year 46 1,503,605.47 8% 1,216,163.96 6,500.00 8% 80.88% 0% Year 47 1,623,893.91 8% 1,319,957.08 6,500.00 8% 81.28% 0% Year 48 1,753,805.42 8% 1,432,053.65 6,500.00 8% 81.65% 0% Year 49 1,894,109.86 8% 1,553,117.94 6,500.00 8% 82.00% 0% Year 50 2,045,638.65 8% 1,683,867.37 6,500.00 8% 82.31% 0% Year 51 2,209,289.74 8% 1,825,076.76 6,500.00 8% 82.61% 0% Year 52 2,386,032.92 8% 1,977,582.90 6,500.00 8% 82.88% 0% Year 53 2,576,915.55 8% 2,142,289.53 6,500.00 8% 83.13% 0% Year 54 2,783,068.79 8% 2,320,172.70 6,500.00 8% 83.37% 0% Year 55 3,005,714.30 8% 2,512,286.51 6,500.00 8% 83.58% 0% Year 56 3,246,171.44 8% 2,719,769.43 6,500.00 8% 83.78% 0% Year 57 3,505,865.16 8% 2,943,850.99 6,500.00 8% 83.97% 0% Year 58 3,786,334.37 8% 3,185,859.07 6,500.00 8% 84.14% 0% Year 59 4,089,241.12 8% 3,447,227.79 6,500.00 8% 84.30% 0% Year 60 4,416,380.41 8% 3,729,506.02 6,500.00 8% 84.45% 0% Year 61 4,769,690.84 8% 4,034,366.50 6,500.00 8% 84.58% 0% Year 62 5,151,266.11 8% 4,363,615.82 6,500.00 8% 84.71% 0% Year 63 5,563,367.39 8% 4,719,205.08 6,500.00 8% 84.83% 0% Year 64 6,008,436.79 8% 5,103,241.49 6,500.00 8% 84.93% 0% Year 65 6,489,111.73 8% 5,518,000.81 6,500.00 8% 85.03% 0% Year 66 7,008,240.67 8% 5,965,940.87 6,500.00 8% 85.13% 0% Year 67 7,568,899.92 8% 6,449,716.14 6,500.00 8% 85.21% 0% Year 68 8,174,411.91 8% 6,972,193.44 6,500.00 8% 85.29% 0% Year 69 8,828,364.87 8% 7,536,468.91 6,500.00 8% 85.37% 0% Year 70 9,534,634.06 8% 8,145,886.42 6,500.00 8% 85.43% 0% Year 71 10,297,404.78 8% 8,804,057.34 6,500.00 8% 85.50% 0% Year 72 11,121,197.16 8% 9,514,881.92 6,500.00 8% 85.56% 0% Year 73 12,010,892.94 8% 10,282,572.48 6,500.00 8% 85.61% 0% Year 74 12,971,764.37 8% 11,111,678.28 6,500.00 8% 85.66% 0% Year 75 14,009,505.52 8% 12,007,112.54 6,500.00 8% 85.71% 0% Year 76 15,130,265.96 8% 12,974,181.54 6,500.00 8% 85.75% 0% Year 77 16,340,687.24 8% 14,018,616.06 6,500.00 8% 85.79% 0% Year 78 17,647,942.22 8% 15,146,605.35 6,500.00 8% 85.83% 0% Year 79 19,059,777.60 8% 16,364,833.78 6,500.00 8% 85.86% 0% Year 80 20,584,559.80 8% 17,680,520.48 6,500.00 8% 85.89% 0% Year 81 22,231,324.59 8% 19,101,462.12 6,500.00 8% 85.92% 0% Year 82 24,009,830.56 8% 20,636,079.09 6,500.00 8% 85.95% 0% Year 83 25,930,617.00 8% 22,293,465.41 6,500.00 8% 85.97% 0% Year 84 28,005,066.36 8% 24,083,442.65 6,500.00 8% 86.00% 0% Year 85 30,245,471.67 8% 26,016,618.06 6,500.00 8% 86.02% 0% Year 86 32,665,109.40 8% 28,104,447.50 6,500.00 8% 86.04% 0% Year 87 35,278,318.16 8% 30,359,303.30 6,500.00 8% 86.06% 0% Year 88 38,100,583.61 8% 32,794,547.57 6,500.00 8% 86.07% 0% Year 89 41,148,630.30 8% 35,424,611.37 6,500.00 8% 86.09% 0% Year 90 44,440,520.72 8% 38,265,080.28 6,500.00 8% 86.10% 0% Year 91 47,995,762.38 8% 41,332,786.71 6,500.00 8% 86.12% 0% Year 92 51,835,423.37 8% 44,645,909.64 6,500.00 8% 86.13% 0% Year 93 55,982,257.24 8% 48,224,082.41 6,500.00 8% 86.14% 0% Year 94 60,460,837.82 8% 52,088,509.01 6,500.00 8% 86.15% 0% Year 95 65,297,704.84 8% 56,262,089.73 6,500.00 8% 86.16% 0% Year 96 70,521,521.23 8% 60,769,556.91 6,500.00 8% 86.17% 0% Year 97 76,163,242.93 8% 65,637,621.46 6,500.00 8% 86.18% 0% Year 98 82,256,302.36 8% 70,895,131.18 6,500.00 8% 86.19% 0% Year 99 88,836,806.55 8% 76,573,241.67 6,500.00 8% 86.20% 0% Year 100 95,943,751.07 8% 82,705,601.00 6,500.00 8% 86.20% 0% EDIT 2: Inflation-adjusted version: Years Portfolio 1 Annual Savings 1 Expected Rate of Return 1 Portfolio 2 Annual Savings 1 Expected Rate of Return 2 Portfolio 2 Pct of Portfolio 1 Inflation Year 1 6,500.00 6,500.00 10.16% 0.00 10.16% 0.00% 2% Year 2 13,790.40 6,630.00 10.16% 0.00 10.16% 0.00% 2% Year 3 21,954.10 6,762.60 10.16% 0.00 10.16% 0.00% 2% Year 4 31,082.49 6,897.85 10.16% 0.00 10.16% 0.00% 2% Year 5 41,276.28 7,035.81 10.16% 0.00 10.16% 0.00% 2% Year 6 52,646.48 7,176.53 10.16% 0.00 10.16% 0.00% 2% Year 7 65,315.42 7,320.06 10.16% 0.00 10.16% 0.00% 2% Year 8 79,417.92 7,466.46 10.16% 0.00 10.16% 0.00% 2% Year 9 95,102.57 7,615.79 10.16% 0.00 10.16% 0.00% 2% Year 10 112,533.09 7,768.10 10.16% 0.00 10.16% 0.00% 2% Year 11 123,966.45 10.16% 7,923.46 7,923.46 10.16% 6.39% 2% Year 12 136,561.44 10.16% 16,810.42 8,081.93 10.16% 12.31% 2% Year 13 150,436.09 10.16% 26,761.93 8,243.57 10.16% 17.79% 2% Year 14 165,720.39 10.16% 37,889.39 8,408.44 10.16% 22.86% 2% Year 15 182,557.59 10.16% 50,315.56 8,576.61 10.16% 27.56% 2% Year 16 201,105.44 10.16% 64,175.77 8,748.14 10.16% 31.91% 2% Year 17 221,537.75 10.16% 79,619.13 8,923.11 10.16% 35.94% 2% Year 18 244,045.98 10.16% 96,810.00 9,101.57 10.16% 39.67% 2% Year 19 268,841.06 10.16% 115,929.50 9,283.60 10.16% 43.12% 2% Year 20 296,155.31 10.16% 137,177.21 9,469.27 10.16% 46.32% 2% Year 21 326,244.69 10.16% 160,773.07 9,658.66 10.16% 49.28% 2% Year 22 359,391.15 10.16% 186,959.45 9,851.83 10.16% 52.02% 2% Year 23 395,905.29 10.16% 216,003.39 10,048.87 10.16% 54.56% 2% Year 24 436,129.26 10.16% 248,199.19 10,249.85 10.16% 56.91% 2% Year 25 480,440.00 10.16% 283,871.06 10,454.84 10.16% 59.09% 2% Year 26 529,252.70 10.16% 323,376.30 10,663.94 10.16% 61.10% 2% Year 27 583,024.77 10.16% 367,108.55 10,877.22 10.16% 62.97% 2% Year 28 642,260.09 10.16% 415,501.54 11,094.76 10.16% 64.69% 2% Year 29 707,513.72 10.16% 469,033.16 11,316.66 10.16% 66.29% 2% Year 30 779,397.11 10.16% 528,229.92 11,542.99 10.16% 67.77% 2% Year 31 858,583.86 10.16% 593,671.93 11,773.85 10.16% 69.15% 2% Year 32 945,815.98 10.16% 665,998.32 12,009.33 10.16% 70.42% 2% Year 33 1,041,910.88 10.16% 745,913.27 12,249.51 10.16% 71.59% 2% Year 34 1,147,769.02 10.16% 834,192.56 12,494.50 10.16% 72.68% 2% Year 35 1,264,382.36 10.16% 931,690.92 12,744.39 10.16% 73.69% 2% Year 36 1,392,843.60 10.16% 1,039,350.00 12,999.28 10.16% 74.62% 2% Year 37 1,534,356.51 10.16% 1,158,207.22 13,259.27 10.16% 75.48% 2% Year 38 1,690,247.14 10.16% 1,289,405.53 13,524.45 10.16% 76.29% 2% Year 39 1,861,976.25 10.16% 1,434,204.08 13,794.94 10.16% 77.03% 2% Year 40 2,051,153.03 10.16% 1,593,990.05 14,070.84 10.16% 77.71% 2% Year 41 2,259,550.18 10.16% 1,770,291.70 14,352.26 10.16% 78.35% 2% Year 42 2,489,120.48 10.16% 1,964,792.64 14,639.30 10.16% 78.94% 2% Year 43 2,742,015.12 10.16% 2,179,347.66 14,932.09 10.16% 79.48% 2% Year 44 3,020,603.86 10.16% 2,416,000.11 15,230.73 10.16% 79.98% 2% Year 45 3,327,497.21 10.16% 2,677,001.07 15,535.35 10.16% 80.45% 2% Year 46 3,665,570.92 10.16% 2,964,830.43 15,846.05 10.16% 80.88% 2% Year 47 4,037,992.93 10.16% 3,282,220.17 16,162.97 10.16% 81.28% 2% Year 48 4,448,253.01 10.16% 3,632,179.98 16,486.23 10.16% 81.65% 2% Year 49 4,900,195.52 10.16% 4,018,025.42 16,815.96 10.16% 82.00% 2% Year 50 5,398,055.38 10.16% 4,443,409.08 17,152.28 10.16% 82.31% 2% Year 51 5,946,497.81 10.16% 4,912,354.76 17,495.32 10.16% 82.61% 2% Year 52 6,550,661.99 10.16% 5,429,295.24 17,845.23 10.16% 82.88% 2% Year 53 7,216,209.24 10.16% 5,999,113.76 18,202.13 10.16% 83.13% 2% Year 54 7,949,376.10 10.16% 6,627,189.90 18,566.18 10.16% 83.37% 2% Year 55 8,757,032.71 10.16% 7,319,449.89 18,937.50 10.16% 83.58% 2% Year 56 9,646,747.24 10.16% 8,082,422.25 19,316.25 10.16% 83.78% 2% Year 57 10,626,856.76 10.16% 8,923,298.93 19,702.57 10.16% 83.97% 2% Year 58 11,706,545.40 10.16% 9,850,002.72 20,096.63 10.16% 84.14% 2% Year 59 12,895,930.42 10.16% 10,871,261.56 20,498.56 10.16% 84.30% 2% Year 60 14,206,156.95 10.16% 11,996,690.26 20,908.53 10.16% 84.45% 2% Year 61 15,649,502.49 10.16% 13,236,880.69 21,326.70 10.16% 84.58% 2% Year 62 17,239,491.95 10.16% 14,603,501.00 21,753.23 10.16% 84.71% 2% Year 63 18,991,024.33 10.16% 16,109,405.00 22,188.30 10.16% 84.83% 2% Year 64 20,920,512.40 10.16% 17,768,752.62 22,632.06 10.16% 84.93% 2% Year 65 23,046,036.46 10.16% 19,597,142.59 23,084.71 10.16% 85.03% 2% Year 66 25,387,513.76 10.16% 21,611,758.68 23,546.40 10.16% 85.13% 2% Year 67 27,966,885.16 10.16% 23,831,530.69 24,017.33 10.16% 85.21% 2% Year 68 30,808,320.69 10.16% 26,277,311.88 24,497.67 10.16% 85.29% 2% Year 69 33,938,446.08 10.16% 28,972,074.40 24,987.63 10.16% 85.37% 2% Year 70 37,386,592.20 10.16% 31,941,124.53 25,487.38 10.16% 85.43% 2% Year 71 41,185,069.97 10.16% 35,212,339.92 25,997.13 10.16% 85.50% 2% Year 72 45,369,473.07 10.16% 38,816,430.72 26,517.07 10.16% 85.56% 2% Year 73 49,979,011.54 10.16% 42,787,227.50 27,047.41 10.16% 85.61% 2% Year 74 55,056,879.11 10.16% 47,161,998.17 27,588.36 10.16% 85.66% 2% Year 75 60,650,658.03 10.16% 51,981,797.31 28,140.13 10.16% 85.71% 2% Year 76 66,812,764.88 10.16% 57,291,850.85 28,702.93 10.16% 85.75% 2% Year 77 73,600,941.80 10.16% 63,141,979.89 29,276.99 10.16% 85.79% 2% Year 78 81,078,797.48 10.16% 69,587,067.57 29,862.53 10.16% 85.83% 2% Year 79 89,316,403.31 10.16% 76,687,573.41 30,459.78 10.16% 85.86% 2% Year 80 98,390,949.88 10.16% 84,510,099.85 31,068.98 10.16% 85.89% 2% Year 81 108,387,470.39 10.16% 93,128,016.35 31,690.35 10.16% 85.92% 2% Year 82 119,399,637.38 10.16% 102,622,146.97 32,324.16 10.16% 85.95% 2% Year 83 131,530,640.54 10.16% 113,081,527.75 32,970.64 10.16% 85.97% 2% Year 84 144,894,153.62 10.16% 124,604,241.02 33,630.06 10.16% 86.00% 2% Year 85 159,615,399.63 10.16% 137,298,334.57 34,302.66 10.16% 86.02% 2% Year 86 175,832,324.23 10.16% 151,282,834.08 34,988.71 10.16% 86.04% 2% Year 87 193,696,888.37 10.16% 166,688,858.50 35,688.49 10.16% 86.06% 2% Year 88 213,376,492.23 10.16% 183,660,848.78 36,402.26 10.16% 86.07% 2% Year 89 235,055,543.84 10.16% 202,357,921.32 37,130.30 10.16% 86.09% 2% Year 90 258,937,187.10 10.16% 222,955,359.04 37,872.91 10.16% 86.10% 2% Year 91 285,245,205.31 10.16% 245,646,253.88 38,630.37 10.16% 86.12% 2% Year 92 314,226,118.17 10.16% 270,643,316.25 39,402.97 10.16% 86.13% 2% Year 93 346,151,491.77 10.16% 298,180,868.21 40,191.03 10.16% 86.14% 2% Year 94 381,320,483.34 10.16% 328,517,039.27 40,994.85 10.16% 86.15% 2% Year 95 420,062,644.44 10.16% 361,936,185.21 41,814.75 10.16% 86.16% 2% Year 96 462,741,009.12 10.16% 398,751,552.67 42,651.04 10.16% 86.17% 2% Year 97 509,755,495.65 10.16% 439,308,214.49 43,504.07 10.16% 86.18% 2% Year 98 561,546,654.00 10.16% 483,986,303.23 44,374.15 10.16% 86.19% 2% Year 99 618,599,794.05 10.16% 533,204,573.27 45,261.63 10.16% 86.20% 2% Year 100 681,449,533.13 10.16% 587,424,324.77 46,166.86 10.16% 86.20% 2% submitted by /u/spydormunkay [link] [comments]

  • Milestone: 100k Net Worth! 62k Saved in Past Year
    by /u/nbbbibibb (Financial Independence / Retire Early) on January 29, 2023 at 6:22 pm

    With my paycheck tomorrow, I'll have a net worth of $106,600! I've been super excited to write this post since I first read about FI back in 2020. Jan 2022 net worth: 27k. Started working full time as a Manufacturing Engineer in a new state in Feb 2022. Post-tax 2022 earnings: 75k. Post tax 2022 savings rate: 82.5% My savings method was to max out my IRA first, then 401k pre tax, then continue to contribute to 401k post tax while depositing some money in a Vanguard taxable account. I also maxed out my HSA, though because my employer's plan doesn't allow for depositing the full limit at one time, I did that over the course of the year. This method worked out pretty well and I'm going to do it again this year. Investments: 85% Stock (70% US, 30% International) 15% Bonds. I used Total Stock Market/Total Bond Market Index funds in my IRA, HSA, and Vanguard accounts; my 401k didn't have total stock market fund options so I used smaller index funds to approximate the total market. Monthly Budget: ~$925 total, with some variation in the power bill and gas costs from month to month Rent (Includes some utilities) 572.50 Groceries 80.00 Utilities (power and internet) ~66.00 Phone Plan 15.00 Car Gas ~40.00 Auto Insurance 82.18 Health Insurance 44.89 'Fun' Spending Money ~24 (or whatever's left) 'Fun' Spending includes everything from restaurants and outings with friends to toiletries and mailing packages. In addition to that I had a 'Saving Goals' Fund of about $2000 (funded by the relocation stipend I got while starting the new job) that I used for doctor/dentist deductibles, car maintenance (new spark plugs, oil changes, car wash, etc.), birthday/Christmas presents, and travel over the holidays. In 2022 my savings goal was 80%, and I met that by spending ~13k of my ~75k earnings. Since 80% was pretty achievable, my goal in 2023 is to get my annual spending down to ~12k or, if not possible, to at least stay at a >=83% savings rate- mainly by lowering spending from that 'Saving Goals' Fund. I've been really inspired by Jacob from Early Retirement Extreme, who has lived on roughly 7k a year for the past 10 years. In the long term I want to get my spending to at or below 10k, by moving to a cheaper shared house/apartment closer to where I work. Currently I'm in a 2 year engineer training program that transfers me to a new factory every 6 months, and since my current apartment is roughly equidistant from the major plants I don't want to move until I get my permanent assignment. Overall I think I'm in a good spot financially. I've set my annual spending post FIRE at 20k/yr as a safety net, so my FIRE number is around $611k (7% tax and 3.5% withdraw rate), which I should reach in 5.9 years. But I've got a lot of work to do on the 'soul searching' lifestyle part of FIRE. I have no idea what I'd like to do if I don't have to work; I don't have many hobbies. I need to get into an exercise routine I can maintain, right now I get very little physical activity (40 min bike ride once a week) and I've got some mental health concerns that I need to improve before I can think about leaving my employer's health insurance plan. I've got some work to do, but I'm very proud of the budget I've kept and the amount of money I've saved this past year, and I'm ready to keep going! Edit: I'm getting a lot of grief on the '$24 fun' number, so I'll elaborate. Yeah I don't go out much at all, possibly once or twice a month. 'Eating out' for me is an appetizer at buffalo wild wings or the Mexican place across the street that has really good $3 tacos. Doesn't have to be a $20 meal to be a good time. When I hang with friends we watch movies at each other's houses, or walk their dog at the park, or go sledding. It's fun, low-zero cost stuff where we have fun and enjoy each others company. Once summer comes around I want to go biking, thrifting, visit a dark sky preserve, etc. Bars, clubs, festivals, and the like aren't my scene and I wouldn't frequent them even without FIRE Toiletries: I have a roommate and we've got an agreement that she pays for toilet paper in exchange for me doing more of the chores and we're fine with that. I don't use paper towels or tissues, reusable hand towels and handkerchiefs for the win. All my shower supplies are bought at the dollar store, my hair does fine with $1.25 conditioner. submitted by /u/nbbbibibb [link] [comments]

  • Most important DECISION you made so far that helps you massively towards becoming FI?
    by /u/BenjaminPav (Financial Independence / Retire Early) on January 29, 2023 at 5:10 am

    What was the most important DECISION you made so far that helps you massively towards becoming financially independent? For me it was quitting alcohol. I am saving so much money due to not drinking anymore, it's crazy. submitted by /u/BenjaminPav [link] [comments]


How crypto could change the world and Why Cryptocurrency was invented in the first place.

How crypto could change the world and Why Cryptocurrency was invented in the first place.

You can translate the content of this page by selecting a language in the select box.

How crypto could change the world and Why Cryptocurrency was invented in the first place.

People used to pay each other in gold and silver. Difficult to transport. Difficult to divide.

Paper money was invented. A claim to gold in a bank vault. Easier to transport and divide.

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Banks gave out more paper money than they had gold in the vault. They ran “fractional reserves”. A real money maker. But every now and then, banks collapsed because of runs on the bank.

Central banking was invented. Central banks would be lenders of last resort. Runs on the bank were thus mitigated by banks guaranteeing each other’s deposits through a central bank. The risk of a bank run was not lowered. Its frequency was diminished and its impact was increased. After all, banks remained basically insolvent in this fractional reserve scheme.

Banks would still get in trouble. But now, if one bank got in sufficient trouble, they would all be in trouble at the same time. Governments would have to step in to save them.

All ties between the financial system and gold were severed in 1971 when Nixon decided that the USD would no longer be exchangeable for a fixed amount of gold. This exacerbated the problem, because there was now effectively no limit anymore on the amount of paper money that banks could create.


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From this moment on, all money was created as credit. Money ceased to be supported by an asset. When you take out a loan, money is created and lent to you. Banks expect this freshly minted money to be returned to them with interest. Sure, banks need to keep adequate reserves. But these reserves basically consist of the same credit-based money. And reserves are much lower than the loans they make.

This led to an explosion in the money supply. The Federal Reserve stopped reporting M3 in 2006. But the ECB currently reports a yearly increase in the supply of the euro of about 5%.

This leads to a yearly increase in prices. The price increase is somewhat lower than the increase in the money supply. This is because of increased productivity. Society gets better at producing stuff cheaper all the time. So, in absence of money creation you would expect prices to drop every year. That they don’t is the effect of money creation.

What remains is an inflation rate in the 2% range.

Banks have discovered that they can siphon off all the productivity increase + 2% every year, without people complaining too much. They accomplish this currently by increasing the money supply by 5% per year, getting this money returned to them at an interest.

Apart from this insidious tax on society, banks take society hostage every couple of years. In case of a financial crisis, banks need bailouts or the system will collapse.

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Apart from these problems, banks and governments are now striving to do away with cash. This would mean that no two free men would be able to exchange money without intermediation by a bank. If you believe that to transact with others is a fundamental right, this should scare you.

The absence of sound money was at the root of the problem. We were force-fed paper money because there were no good alternatives. Gold and silver remain difficult to use.

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When it was tried to launch a private currency backed by precious metals (Liberty dollar), this initiative was shut down because it undermined the U.S. currency system. Apparently, a currency alternative could only thrive if “nobody” launched it and if they was no central point of failure.

What was needed was a peer-to-peer electronic cash system. This was what Satoshi Nakamoto described in 2008. It was a response to all the problems described above. That is why he labeled the genesis block with the text: “03/Jan/2009 Chancellor on brink of second bailout for banks.”. Bitcoin was meant to be an alternative to our current financial system.

So, if you find yourself religiously checking some cryptocurrency’s price, or bogged down in discussions about the “one true bitcoin”, or constantly asking what currency to buy, please at least remember that we have bigger fish to fry.

We are here to fix the financial system.

Given how early in the Rogers Adoption Curve for Crypto we are, I would like to take a moment so we can just imagine what this technological revolution, which I consider is the next huge step for human kind, could bring. I will emphasize some socioeconomic implications of descentralization, but I`m mostly interested in listening to, and debating your inputs.

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Blockchain and Crypto Currency are here to change the world forever.

The implications of decentralization

As you may know one of the core proposals of blockchain is decentralization, and with it we can optimize so many processes that this alone could be the revolution we are talking about. By eliminating intermediaries, we can save on the cost they add to the supply chain ensuring those that create the value, keep it. Or we can simply save on fees.

To quote the man himself:


Whereas most technologies tend to automate workers on the periphery doing menial tasks, blockchains automate away the center. Instead of putting the taxi driver out of a job, blockchain puts Uber out of a job and lets the taxi drivers work with the customer directly. – Vitalik Buterin.

To put it simply, imagine that you replace Binance (a centralized company) with a robot. A robot that you have programed so well, whose code you publicly audit, and that is so safe you can trust it with billions of dollars in liquidity pools, so it proceeds to host and operate the trading platform by itself. In case you didn’t know, this is already a reality! Many people here trade on those platforms on a daily basis.

But this goes beyond replacing Centralized Exchanges with Automated Market Makers, Airbnb with a blockchain DApp that connects landlords and costumers, or even banks with complex smart contracts that allow you to borrow, save, tokenize physical assets, and so on. This goes way beyond.

Here is where I start to fantasize of the future. Think about replacing capital itself, think about getting rid of corporations. Lets dream of a world with DAOs massive adoption.

With DeFi, we may no longer need a company like Nestlé…

And specially not their investors. Of course, you will still need the people administrating, planning, monitoring, generating new ideas that adapt to their context, and creating innovative solutions for a complex world only humans can comprehend. But the figure of shareholders and CEOs that steal all the value that workers create and leave them with a tiny fraction of it, can disappear. This can be the basis of a once in a century transformation.


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Just as an example: Nestlè’s coffee growers in Colombia keep less than 10% of the final sale price, and barely make a living on it, so are actually abandoning the rural areas.

With Blockchain, DeFi and Smart Contracts, people like you and me can collectively fund such an operation, and then agree upon specific terms like wages by direct democracy, voting with our crypto holdings. Then we would proceed to allocate funds, hire “developers” which would ultimately be regular office jobs that keep the organization functioning. Once in operation we would frequently vote on decisions and results, which would ultimately keep the highest level of accountability for people working in the organization. This is already happening by the way, this is how some blockchain projects work today. We just haven’t applied it to industrial and physical supply chains yet.

Let’s go back to our project to replace Nestle. Imagine that an organization’s main goal is not to maximize profits for shareholders and bonuses for CEOs anymore. Instead, it’s the interest of regular people and the company’s collaborators that drive its actions.

Most likely, you and I will want to consolidate an efficient and effective supply chain, that is sustainable and keeps the dignity and wellbeing of its collaborators as a guiding principle. We are not longer at their mercy on issues like climate change, we can now take immediate action against it, or stop endangering and hoarding water supplies in classic Nestle fashion.

Also, we are making profits, so we are redistributing capital, and improving our quality of life, which will be most notorious in the most vulnerable communities, usually those that extract/harvest/mine raw materials.

This is what could happen with the blockchain descentralization of business. And you could apply it to pretty much anything, but maybe initially it could be for low labor and capital intensive businesses.

I’ll give you another example. I work for a solar power multinational company. If you don’t know it, solar energy is essentially a financial product, most people working in these companies don’t care about the world, its simply that solar is a very safe and lucrative hustle, and all investors care about is having a nice return of investment (ROI). As of now, my company works exclusively for large scale corporate clients or the state itself, given that’s where the nice ROIs are, since they give you the projects that allow you to place large capitals at once. This means, as of today, we blatantly ignore the regular people that seek for our help and funding to power their farms and/or houses with solar energy. They’re not that profitable my boss tells me. This is shitty, and I’ve thought of quitting several times.

But back to the point. Now, imagine once again, we get rid of the institutional investors. Now you and me create Reddit Solar Co, a DAO. Our only purpose is to facilitate access to electricity to those without it, and to advance in the urban implementation of renewable energy. We help the world, make dividends that are automatically distributed by the DAO, and also our own Crypto is rising in value.

And this is not the best.

Let’s not forget of synergies.

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So, we just created a DAO that manufactures and distributes food globally right? Or maybe Reddit Solar Co. As an organization born on the blockchain, we won’t have to adapt to the state of the art innovations on the crypto world like an old steam locomotive attempting to adapt a warp drive on top of it. We were born in space.

From the beginning, our Ethereum based DAO could adopt VeChain’s solution for supply chains, Cardano will help us to give an integral solution to the unbanked communities that provide our raw material, they now have IDs, access to DeFi and education. The land deeds and legal documents that relate to our enterprise are certified by LTO Network, we move money internationally with XRP or Stellar, and don’t worry, we use Polkadot to ensure proper blockchain interoperability.

Too complex for you? Don’t worry, you don’t even have to know or care about this, leave that to others. You’re into finance. Maybe sales is your thing and there’s a little Michael Scott in you. Or you`re into social work and want to supervise our community engagement at the start of the supply chain. Just go do your thing! You don’t necessarily have to be involved in all of this.

All you know is you do your job and receive your crypto salary.

Just as computers and the internet changed the world forever, and not only had economic implications but also changed our culture, routines, work lives and ways to interact with each other, crypto will. We are just so early; that all we can do for now is dream.

You’re having too much hope in humanity dude…

Sure, I may be making some optimistic assumptions on the motivations of humans, I may be saying that we will use this technology for good, and that we care about each other, and that’s one way to look at it. But we could also argue in favor of this from a sceptic perspective: even if you don’t care about the collective wellbeing of your community, it’s in your interest to live in a safer environment right? Ergo you want to reduce poverty. Its also in your interest to stop global warming so organized human life can continue to exist, or to make sure you and your children will have water and food in 50 years, that’s why you will want to use technology for good even if you only care about yourself. Also lets not forget the powerful incentive of profits. Crypto has the clear potential to achieve all of this.

Most of the current generation of crypto projects will be ready and operating within the next 3 years, so all we will need by then is the will to use this technology for good, and the vision to change the world.

This is just the beginning, we will be killing industries but giving birth to others we could have never imagined before.

Cons of Crypto:
A coin called “Chia” is gobbling up 1,125,000 TB storage per day. Just to farm this token that no one seems to use. This takes resource wastage to a whole new level.

Chia is a coin that works on a proof of time space consensus. I.e. to farm this coin, one must allot dedicated hard drives and allot the space (known as plots), and get rewarded for it. Sounds good on paper, and one could even be tempted to think they may put that spare 500 GB space left and earn some passive income on it.

Except, this one already requires industrial grade storage space, just to farm a token that has almost zero adoption anywhere.

As you can see from this coin’s explorer, the storage is growing by almost 1000 PiB per day, in the last few days.

https://www.chiaexplorer.com/charts/netspace

1 PiB = 1125.9 TB.

So a growth of 1000 PiB per day => almost 1125000 TB of storage per day is added onto this network, just to mine these coins. This equates to 1.1 million 1 TB drives added per day just to support farming on this network!

Pros of Crypto:
– People in Hong Kong Use The Crypto and Blockchain To Fight Against Media Censorship
Reference

Data indicates that 76% of Bitcoin investors are still in profit

Bitcoin Pro Arguments:

  • Network effect and staying power
    BTC is the first virtual currency to solve the double-spending issue. The Bitcoin Protocol offered a solution to the Byzantine Generals’ Problem with a blockchain network structure, a notion first created by Stuart Haber and W. Scott Stornetta in 1991.
  • Bitcoin undoubtedly has a ‘brand’. It has perhaps the most substantial name recognition of any existing crypto asset and is basically synonymous with ‘cryptocurrency’ to the lay public.
  • Despite near constant proclamations of its demise, Bitcoin has not died. One could argue that – as the progenitor of cryptocurrencies – its longevity and continued profitability is itself an investment thesis.
  • As the number of public addresses, daily active users (DAU), and large holders/long term holders continue to trend upwards, it becomes harder and harder to ‘put the genie back in the bottle’:
  • Bitcoin’s valuation is well described by the most fundamental factor intrinsic to its network: the number of addresses that hold BTC. Applying Metcalfe’s law, the total value of Bitcoin’s network is well explained, with an R squared of 93.8%, simply by the square of its user base, n.
  • Store of value to hedge inflation
  • Over its lifetime, narratives of Bitcoin’s value have gone through several shifts, from the original cypherpunk vision in the white paper of p2p ‘e-cash’ to today’s ‘digital gold’ narrative.
  • One theme underlying both of these points, however, is a reaction to or distrust in the current financial system. This was true during the financial crisis of 2008 (see the genesis block message) and is still relevant today with unprecedented levels of monetary and fiscal stimulus being pursued by governments worldwide. Government deficits and central bank money printing may lead to inflation and thus drive investors towards assets like gold or Bitcoin to preserve their wealth.
  • This notion that BTC is a store of value to hedge inflation has certainly caught on in the last few years – not just from institutional or hedge fund investors, but from companies like MicroStrategy, Square and Tesla adding BTC to their balance sheets.
  • Like gold, BTC is scarce – only 21M will ever exist. It is estimated that 3M-3.7M BTC have been lost forever/will never enter circulating supply again.. One estimate is that 14.5M BTC are essentially illiquid.
  • To take one example, Grayscale’s BTC trust – which has no redemption process and thus effectively takes BTC out of circulation – alone holds over 600k BTC.
  • Like gold, BTC is also divisible, interchangeable and durable. Unlike gold, however, BTC is a digital asset and is thus easier to purchase, move and store.
  • If the store of value narrative endures, Bitcoin may have significant upside in supplanting a share of gold’s use case (estimated to be a $10T asset class).
  • Development
  • One of the common counterarguments for Bitcoin is that it is a ‘dinosaur’ with little technological improvement or development (as compared to its more innovative successors).
  • Schisms in the dev community notwithstanding, Bitcoin remains an open-source project with global development communities and activity
  • Developments of note include:
  • Segregated Witness (SegWit): a protocol upgrade proposal that went live in August 2017. This protocol upgrade effectively increased the number of transactions that can be stored in a single block, enabling the network to handle more transactions per second (TPS)
  • Lightning Network: is a second-layer micropayment solution for scalability
  • Taproot: an anticipated upgrade to increase privacy and improve upon other factors related to complex transactions
  • While other blockchains boast enterprise development, some companies are indeed building on Bitcoin. For example, Microsoft recently launched a Decentralized Identifier (DID) network (ION) on the Bitcoin mainnet
  • Ideological foundation for a potentially new financial system, without the old, decrepit, and corrupt banks and middle men.
  • The Environmental Argument is almost pointless, as it is the most efficient way of transporting millions of dollars around the world in mere seconds. And I mean efficient in all ways, there us no other single asset in the world capable of transporting this amount of capital wealth with such a low environmental impact or financial cost. If not, try moving 4 millions dollars of gold. Also, as Btc increases in value, this gets more on more efficient.
  • Innovation of the technology and the first mover advantage in capturing this new market’s value/future value. Btc will always be at the top as mainstream adoption continues relating Crypto=Bitcoin.
  • Ability to be bankless, with proven liquidity (thanks to Tesla) and with the best performing asset creation-to-date.
  • Inability of third parties to do anything about your Btc holding without the seed phrase. Government’s can hardly tax it if, as Michael Saylor put it: “I had a boating accident and forgot my seedphrase, I don’t have acces to my crypto anymore so I can’t be taxed”. In a way, nobody but yourself can prove that you still have access to those funds, so, can they truly be taxable?
  • The S2F model and updated S2F XA model. So far they have been scarily precise. Otherwise, Metcalfe’s law assures anyone that bitcoin may never go to 0, as the network is already strong enough to provide a certain degree of value.

Bitcoin CONS Arguments:

  • Bitcoin has been around way too long, and to the uneducated it is the face of the crypto world.
  • Bitcoin has no smart contracts.
  • Bitcoin is slow.
  • Bitcoin fees are expensive.
  • People see it as an investment, not a currency they can use and spend. In the end this is not defined as it’s supposed to be used, but only as store of value. It’s at the state of gold, not of a coin.
  • Bitcoin has become outdated, the only thing it’s useful for is investing, day to day transactions are useless.
  • Bitcoin’s largest advantage and in fact it’s greatest disadvantage is that it’s the oldest cryptocurrency. Since then technology has evolved so much to become more energy and time efficient.
  • Bitcoin is like the grandpa of crypto and we should look at it as such. Admire it for its wisdom because it has taught us so much, but also acknowledge that each of its children are trying to make their own marks on the world.
  • It’s huge environmental impact due to its proof-of-work concept. BTC has a carbon footprint like Singapore, uses as much electrical energy as the Netherlands, and produces as much electronic waste as Luxembourg. This is a huge problem and needs to be accepted more widely.
  • It’s slow. with an average transaction time of like 10 minutes, we are pretty far from instant transactions – this might not be a problem in all cases, but is one when one would like to use it like a currency, as it was planned originally
  • High transaction costs – not ETH-high, but too high
  • Bitcoin takes a lot of energy to mine and use. As of May 2021, a single Bitcoin transaction takes as much energy as 760,201 VISA credit card payments (source). To keep this in context, the world banking system uses about two times as much energy as the Bitcoin network (source)
  • Bitcoin is difficult to mine. GPUs and CPUs don’t have enough computing power to compete with other miners, meaning so-called Application-Specific Integrated Chips (ASICs) are required. These are expensive – generally in the range of $1000 to $6000, depending on how new the model is (source). This restricts Bitcoin’s mining pool to people and groups who have enough wealth to invest in ASICs, which threatens the goal of keeping cryptocurrency decentralized.
  • Bitcoin transactions can take a long time to be confirmed. The average time for a transaction to confirmed once is 10 minutes (source), but for a payment to be absolutely final, it needs to be included in multiple blocks to ensure consensus in the mining pool. This takes even longer, sometimes up to one hour (source, for 6 confirmations).
  • Bitcoin transactions require expensive mining fees. At the moment, the average fee for a single transaction is $14.35, making Bitcoin unsuitable for day to day use (source).
  • Bitcoin lacks many features available in other coins, including smart contracts (programs run on and enforced by the blockchain, see here), anonymity (source), and CPU mining (allowing anyone with a CPU to mine, thus making the network more democratic and less susceptible to being taken over by large groups).

Crypto is definitely a good way to make money. However, you might end up finding the tech interesting. I know that I sure did, and having a sound understanding of your investment will make a big difference in your ability to hodl. It doesn’t have to be much, just a few YouTube videos.

Strategies when it comes to cryptocurrencies
The HODL’er: you buy and basically you never sell. It’s kind of the holy grail of strategies when it comes to crypto according to this sub. Buy and forget and check back 10 years later. You’re a millionaire, Harry! No stress and no maintenance. You can even buy more over time and continue stacking your fat holdings. Do this if you believe in crypto long term

The Goal Setter: set a goal and sell when you reach that goal. Maybe it’s 3x and I’m out. Or maybe it’s make enough for student loans and I’m out. Or maybe it’s $1MM and sell half. Can be anything. Stress depends on your goal.

The Active Trader: Buy high and sell low

The Swing Trader: Some people are good at trading – they usually wait for those days where the whole market bleeds 20-30% in a day then they buy and wait for the bounce and they sell. Rinse and repeat. But they also risk missing out on the rocket jumps. But they also minimize the risk of being in the market when there’s a crash. In the end they might be able to increase their total holdings but for most beginners they lose rather than win. High stress and high maintenance.

The Cycle Trader: you DCA in during the bear market when everything has lost 80-90% of its ATH (alternatively, a year before the Bitcoin halving). Then you slowly sell off everything approximately a year after crypto starts trending up and enters a bull market. So this method has worked well for many people – they don’t necessarily time the top right but they continue to increase their holdings over several cycles. This might be the smart move if you have discipline. The risk is that history no longer repeats itself. It has worked the past 2 cycles but it’s not guaranteed it’ll work again. Medium stress, low maintenance

The Arbitrager: usually they have algos do the trading for them. They minimize risk and just arbitrage the price differences between exchanges. They might not care about crypto and just want to make money. They miss out on the bull run but also miss out on the bear market. Low stress, medium maintenance.

The Moon Chaser: 1000x or bust. Forget $10K eth or $100K btc, they want the next shiba or safe moon. They buy coins with market caps in the millions and hope for the pump to sell. This is like the lottery ticket buyers of crypto. High stress, high maintenance, smooth brain

The correct mentality for investing in the crypto market is thinking in YEARS not MONTHS.

Crypto: What to do in the bear market

HODL, dont sell with a loss if you believe in your Coin long term.

Stake, staking is really important! I cant tell you enough, if we are in a bear market and you can stake for a few years you can easily get 20-30% more coins then you have right now.

DCA, keep buying. The bear market is where you DCA, dont stop buying. Right now is where you can get coins cheap! Just dont stop DCAing cause you are scared! Pick projects you believe in long term and keep buying at low prices!

Get rid of coins you dont believe in long term, shitcoins. Many wont survive the bear market.

Research coins for the next bull run!

Crypto Currency Market Cap Visualized during the Pandemic

Top 100 Cryptocurrencies by Market Cap

How crypto could change the world and Why Cryptocurrency was invented in the first place.
Data Source from https://coinmarketcap.com/

Latest News on Crypto:

Sources:

1- Reddit

2- Reddit

3- https://research.binance.com/en/projects/bitcoin

4- NYDIG Power of Bitcoins Network Effect

5- The original Cypherphunk vision

6- Unlike Gold, BTC is a digital asset that is easy to move around

7-  https://coinmarketcap.com/historical/

NFT Crypto Blockchain Bitcoin Top Stories – Breaking News

  • Potential buyer asking for my email address, legit?
    by /u/ayeleart (NFT) on February 1, 2023 at 6:35 pm

    I've been contacted via Instagram by a woman that seems real, we had a very normal conversation. She wants to buy an nft and is asking me for my email because she is using AML verification on Opensea secure transaction. Should I give an email to her? Thanks for the guidance 🙏🏾 submitted by /u/ayeleart [link] [comments]

  • Tickle Beach: The Next Wave in On-Chain 3D NFTs
    by /u/kashiskhing (NFT) on February 1, 2023 at 6:34 pm

    Hey everyone, Have you heard about Tickle Beach? It's got some tech that is pretty groundbreaking for 3d NFTs. It's a new proof of concept for a category of NFTs that are on-chain and 3D, procedurally generated, and interactive. This is different from most NFTs which use XML based image standards like SVG to render. Tickle Beach uses WebGl for rendering, allowing for full access to the GPU for improved performance. What does "on-chain" mean? All the data is available forever, with a permissive license, so people can use it for various purposes like building a game. This also means that other teams could use or access the models in the future. In contrast, off-chain NFTs are just URLs to web2 assets that could disappear or be altered (ie IPFS). Tickle Beach was created with values in mind, such as ownership and explicit transparent rules which are represented in crypto native values. They believe in the durability and immutability of on-chain NFTs and believe that they best represent the values behind crypto. The team also holds 3D representation in high regard as they believe it better represents ourselves in the 3D world. They think that as crypto games become more prevalent, any 3D assets in those games will likely be stored on-chain. So if you're interested in the future of NFTs and the potential of on-chain, 3D, procedurally generated and interactive NFTs, check out Tickle Beach! Teaser site: https://ticklebeach.com/ Collection: https://opensea.io/collection/ticklebeach For 3d nerds: https://paulmars.notion.site/Tickle-Beach-3650b51b9afd47879bbabbc7ba47c41f submitted by /u/kashiskhing [link] [comments]

  • "VISUAL OVERTONES" Audio+Visual NFT Collection / BEAT TAPE
    by /u/JayRaTheRu (NFT) on February 1, 2023 at 6:32 pm

    "VISUAL OVERTONES" Audio+Visual NFT Collection / BEAT TAPE /5 Limited editions each. .04ETH 3 collected so far! It might take a bit of time for some to catch on. But I'm here to build, create lots of music, and collaborate with many visual artists creating audio designs for their pieces. Go look & listen here! https://www.youtube.com/watch?v=AZwpteTalO0&t=114s Go here if you'd like to collect! https://twitter.com/JayRaTheRu/status/1620480121709948929 https://preview.redd.it/x65r2cv5fmfa1.png?width=1920&format=png&auto=webp&s=b3d8ac10113de5964277c71a46fef6f02525f25b submitted by /u/JayRaTheRu [link] [comments]

  • Like the stars are connecting, two crucial trend-lines are converging right at our $25k resistance. It will be a break or lose.
    by /u/partymsl (Cryptocurrency News & Discussion) on February 1, 2023 at 6:25 pm

    When it comes to bear market there is one main characteristic that distinguishes them from other phases in the market and that is how we take many long-lasting trend-lines as our resistance and fall even further below it. I know many here may say that TA is just randomness or so but from observations we can see that certain trend-lines are pretty important to the price movement, especially in a bear market. The main ones of them are the Moving Averages, those are used to “smooth out“ the price movements while taking an average of the previous price closes. The MA gets more important once the timeframe we take our Averages from gets bigger thus a weekly MA is the most significant one. Here we have two crucial weekly MAs meeting together soon, the 50W MA and 200W SMA (Simple Moving Average). ​ Picture from Benjamin Cowen at Twitter As we can see those two MAs are even meeting at approximately our next big resistance of this bear market, $25k. The 50W MA even acted as an active resistance during our rally to $45k last year in March. But what significance does this convergence have? Basically you can go by the logic that if one is bad, then two at the same spot will be even worse. Historically there has been a much larger chance that we get rejected once a lot of resistance points meat. This week will just be about as exciting as it gets as we will also have the FOMC meeting, which will be crucial and will move markets a lot, then having three resistance trends and price areas meeting is not the most optimal. So, we should be really ready to have a possible small pullback this week. submitted by /u/partymsl [link] [comments]

  • What is your most important reason for visiting this subreddit? And what would you change about this sub if you could change one aspect? Be honest please.
    by /u/Beyonderr (Cryptocurrency News & Discussion) on February 1, 2023 at 5:40 pm

    I spend quite a lot of time in the r/cryptocurrency subreddit and often wonder, who are the people on the other side of the screen and do they like it here? There's more than 6 million members in total here, which is a lot, yet I always seem to converse with the same people, and the activity has dropped a ton since all time high. For me, I have to admit that I came here to learn about the markets, about cryptocurrency projects, and for educational content. And perhaps a little bit to converse with people about crypto, because I cannot do that in my daily life. But I quickly found out that this subreddit is not necessarily the place for fundamental and technical analysis, although at times there's good content to read. It feels that most people are not here to learn about investing in crypto. So, let me just ask you: What is YOUR most important reason for visiting this subreddit? What would you change about this sub if you could change one aspect of it? Please try to be honest and elaborate on your reply. submitted by /u/Beyonderr [link] [comments]

  • Best Roblox NFT 2024, totally recommended
    by /u/Forward_Grocery7361 (NFT) on February 1, 2023 at 5:21 pm

    submitted by /u/Forward_Grocery7361 [link] [comments]

  • This is the time to plan, create an exit strategy, and stick to it. What’s your plan?
    by /u/sleepapneainvestor (Cryptocurrency News & Discussion) on February 1, 2023 at 5:06 pm

    FOMO is hard to overcome. Also, it’s hard to know what to do when the market gets bubbly or bearish. I find it easiest to create a back of the napkin plan and stick to it. Here’s my personal plan. 1) DCA into projects I believe in (mostly BTC and ETH) until the total market cap of crypto hits 2 trillion. Stop DCA over 2 trillion. Double DCA contributions if the total market cap falls below 500 billion. 2) At 4 trillion market cap, liquidate 1/3rd of all my holdings. No DCA unless we fall back under 2 trillion total market cap. 3) At 8 trillion market cap, liquidate another 1/3rd of all my holdings. No DCA unless we fall back under 2 trillion. 4) Hold the remaining assets over 8 trillion total market cap long term, decide what to do with it later. What’s your plan/exit strategy? Curious to hear what other people have come up with. submitted by /u/sleepapneainvestor [link] [comments]

  • Physical NFTs on Ethereum: Collect9's Safeguard Against Accidental Loss of Private Keys (and Subsequent NFT Loss)
    by /u/Collect9 (NFT) on February 1, 2023 at 5:00 pm

    submitted by /u/Collect9 [link] [comments]

  • Reddit is releasing official Superbowl themed avatars.
    by /u/BrokenParachutes (Cryptocurrency News & Discussion) on February 1, 2023 at 5:00 pm

    This is a big deal as they appear to be officially licensed, unlike the world cup avatars. Super Bowl avatars are a big step for Reddit, being the first official avatar partnership with a major brand, as was speculated to happen months ago. We have yet to see exactly what this partnership will look like, but it would be huge if it is positioned as something like "The official digital collectible partner of the NFL". Generation 3 is also rumored to be right around the corner. This is the sort of thing that could potentionally "kick off" a new avatar bull market. submitted by /u/BrokenParachutes [link] [comments]

  • Doodles 2 NFT Mint Opens, Dooplicators Price Soars on OpenSea
    by /u/trumpfamily2020 (NFT) on February 1, 2023 at 4:46 pm

    submitted by /u/trumpfamily2020 [link] [comments]

  • What will be the new hot thing of the next bull run?
    by /u/Odlavso (Cryptocurrency News & Discussion) on February 1, 2023 at 4:11 pm

    I was listening to a Bankless episode and they went over how every bull run before has had it's new craze that fueled the bull run. 2013/2014 Bull run had bitcoin forks and new coins craze, everybody wanted to make their own coin and people bought them like crazy. people who missed out the crazy bitcoins gains were able to adopted bitcoins little brother Litecoin and ride that silver all the way to a high of $40. ​ https://preview.redd.it/jq47vouumlfa1.png?width=850&format=png&auto=webp&s=aff279b1155c47850c6e384410b7bdcf44bb828d 2017 Bull run was fueled by ICO's (initial coin offerings) Ethereum started the craze and people fallowed by creating all sorts of tokens that would get bought up by desperate investors hoping to see a repeat of Ethereum. At the peak of this bull run we say Useless Ethereum token, which as the name implies is useless, the creator was honest that it had no use and he would not add any after the ICO. People still threw $675k at it and some were able to 4X their investment since it still went up 400% after the ICO. People were told not to buy yet they invested. https://preview.redd.it/6xfp1bgonlfa1.png?width=1300&format=png&auto=webp&s=77b05d68501baac9cb3e07481ed5657b325a368d you can see the website for it here - https://uetoken.com/ ​ 2020/2021 Bull run had DeFi, CeFi and NFTs, both created insane amounts of money for people. Offering unsustainable APR CeFi ended up collapsing but not before making thousands of new millionaires and a few new billionaires. During this time anybody could launch an NFT that would make you thousands or millions for pictures, we got bored apes and probably my favorite NFT collection created by Al Ghozal from Indonesia who made over one million USD from selling selfies of himself as NFTs. at peak they were selling for 0.3 eth (about $1,300 at the time) and currently still going for 0.02 eth https://preview.redd.it/abnv68syolfa1.jpg?width=640&format=pjpg&auto=webp&s=3cbe7ffd488cf5f502dd588d9dac1329927021a4 A lot of these things seem ridiculous now and probably at the time as well but they still happened during the previous bull runs, maybe seeing this is partially why people make fun of crypto. So we know the craziest things can happen during bull runs, What do you believe will be next crypto craze during the coming bull run (whenever it decides to show up)? submitted by /u/Odlavso [link] [comments]

  • What is the highest degree or level of education you have completed?
    by /u/nusk0 (Cryptocurrency News & Discussion) on February 1, 2023 at 3:53 pm

    I saw a post earlier stating that 71% of crypto owner have a Bachelor degree or higher. I got the idea to do a quick survey to see if this subreddit represents the general crypto owner. The stat itself is not that surprising considering crypto is pretty complicated and appeals mostly to tech enthusiastic people. I see a couple of technical post everyday and I'm wondering if these people have a technical background, or if they learned everything by themself. Some of you know a lot of stuff about certain project that are hard to understand, that's pretty impressive. Feel free to chime in the comment and tell us what field you studied if you feel comfortable and tell us what you do! What is the highest degree or level of education you have completed? EDIT : Make sure to sort by number of vote instead of moon distribution, the numbers will make a lot more sense! View Poll submitted by /u/nusk0 [link] [comments]

  • [PSA] Just a warning about a new type of scam using Google Drive.
    by /u/rootpl (Cryptocurrency News & Discussion) on February 1, 2023 at 3:19 pm

    So I've got this strange notification on my phone today that looks a bit like standard email notification from Gmail app. But quickly I've realised that this one is actually from Google Drive. My guess is that scammers take emails from various leaks (my email leaked during Ledger database hack couple years back) and they just send spam to those emails and casting a net for potential victims. Anyway, this is quite interesting because it looks kind of legit, like someone just shared a file with you and wants you to open it. But they do include a link in that file which I've painted over just in case. It gave me a little pause and if I was still at university when I used to share a lot of files with friends from uni I'd probably consider clicking on it. But when you expand the notification box you can see it's talking about crypto. Remember that most scams will try and rush you to take some sort of action quickly, this is to put you off guard, notice that last line at the bottom: "Plesae pay attention! You have 1 hours..." to take action blah blah blah. They even made a mistake spelling 1 'hours' lol. Also I'm not 100% sure how this scam works because I did go to my Google Drive page and I've searched for 'files shared with you' and I can't see it. I'm guessing it's because the file is not actually shared with me, I'm only 'mentioned' in it, my email address is to be precise. Anyway, stay safe out there people and don't click on random links. https://preview.redd.it/0fynz815elfa1.png?width=598&format=png&auto=webp&s=c5f42f711993d46ad5536f94c008301213d96c19 submitted by /u/rootpl [link] [comments]

  • How are people going to spend their cryptocurrency?
    by /u/Old-Pressure-1111 (NFT) on February 1, 2023 at 2:54 pm

    I recently had a conversation with one of my business associates. We've been doing dropshipping for a couple of years now and one of the topics he brought up was how do we spend our crypto? Coming onto Reddit, a redditor told me about NFTs and I went to search up. Turns out that there has been a project building out an e-commerce platform. I have the link up. It looks smooth, UI/UX is good. Haven't bought anything off there yet but it seems like a bold move. If mainstream adoption happens, I'll most probably be looking to list some stuff up as well to test waters. If anyone has any idea on the platform and what the team is building do let me know in the comments. Heard they received alot of FUD for hosting a party in Bali or something LOL. submitted by /u/Old-Pressure-1111 [link] [comments]

  • Bitcoin Pauses as Crypto Traders Await the Fed Decision. Brace for Volatility.
    by /u/NumbLikeMe (Cryptocurrency News & Discussion) on February 1, 2023 at 2:43 pm

    submitted by /u/NumbLikeMe [link] [comments]

  • ‘Accolade’ recognition of inner-self. by me.
    by /u/e2000_ (NFT) on February 1, 2023 at 2:32 pm

    submitted by /u/e2000_ [link] [comments]

  • Scoring Big in the World of NFTs: Building a Football Marketplace
    by /u/andreagabrie (NFT) on February 1, 2023 at 2:20 pm

    Hey Redditers, Have you been hearing a lot about NFTs and their potential in the world of sports? I sure have, and I'm excited to share my thoughts on how to create an NFT marketplace specifically for football fans. First, it's important to understand the benefits of NFTs in the sports world. With NFTs, fans can own a piece of their favorite team or player, from collectible game highlights to signed jerseys. And for teams and players, NFTs offer a new revenue stream and a way to connect with fans in a unique and meaningful way. So, how do you build an NFT marketplace for football? Here are the steps: Determine the goals of your marketplace: What type of football assets do you want to sell, and what are you hoping to achieve? Choose a platform: There are several NFT marketplace builders available, so choose one that fits your needs and budget. Set up your marketplace: Customize the design, add your assets, and set the terms of your sales. Integrate payment options: Make sure you have a secure payment system in place to process transactions. Promote your marketplace: Reach out to football fans through social media, advertising, and other marketing channels to promote your marketplace. Monitor and improve: Regularly check in on your marketplace and make any necessary updates or improvements to ensure its success. Building an NFT marketplace for football can be a great opportunity for fans to own a piece of their favorite sport, and for teams and players to connect with fans and monetize their assets. Let's discuss - what do you think about the potential of NFTs in the world of football? submitted by /u/andreagabrie [link] [comments]

  • One of the main reasons most crypto games are low quality is because of the lack of funding. High quality game development costs A LOT. More than you’d think
    by /u/FutilelyDare899 (Cryptocurrency News & Discussion) on February 1, 2023 at 2:20 pm

    DISCLAIMER Notice how I say “one of the main reasons” because the other reason is greed. A lot of the devs behind these crypto games want to finish them as fast as possible to make a quick buck and dip. ​ Back to the main issue. The lack of funds: The reason it’s the main issue is because if funding was adequate then greed amongst devs would also decrease dramatically since they’ll be paid handsomely for a high quality game. Many of the games that we play have taken year upon year to develop, with brigades of veteran game developers and hundreds of millions of dollars in funding The GameFi scene simply doesn’t have that. It’s only until now that we’re seeing GameFi focused organizations like Game7 pour well needed funds into the GameFi space along L2s like Mantle solely focused on scaling NFT games through modular scalability (because no amount of funding will mean anything if the games can’t actually be scaled) With that being said, I do indeed see a second rise to the GameFi scene in the near future except this time it’ll be much different. With proper funding (hopefully) we might see devs actually become devoted towards creating entertaining games worth playing instead of focusing solely on profitability. Only time can tell though. submitted by /u/FutilelyDare899 [link] [comments]

  • Handmade with pencils by Fer Sassali.
    by /u/fersassali (NFT) on February 1, 2023 at 2:15 pm

    submitted by /u/fersassali [link] [comments]

  • Top of the Morning to you Community!
    by /u/EliteDogeClub (NFT) on February 1, 2023 at 2:15 pm

    submitted by /u/EliteDogeClub [link] [comments]

  • Bitcoin closes out best January since 2013
    by /u/Lord-Nagafen (Cryptocurrency News & Discussion) on February 1, 2023 at 1:34 pm

    submitted by /u/Lord-Nagafen [link] [comments]

  • Crypto scammers abuse ‘lax’ UK company laws to fool victims: Report
    by /u/Draft-Sufficient (Cryptocurrency News & Discussion) on February 1, 2023 at 1:33 pm

    submitted by /u/Draft-Sufficient [link] [comments]

  • There are a total of 584 centralized exchanges, and none of them are your friends
    by /u/reddito321 (Cryptocurrency News & Discussion) on February 1, 2023 at 1:24 pm

    I was in mild shock when I went to CoinGecko and discovered that they track 584 centralized exchanges. As per their website: As of today, we track 584 crypto exchanges with a total 24h trading volume of $70.2 Billion, a -6.82% change in the last 24 hours.. Currently, the 3 largest cryptocurrency exchanges are Coinbase Exchange, OKX, and KuCoin. Total tracked crypto exchange reserves currently stands at $106 Billion My shock is that I expected something like 30, maybe 50 CEXes, but now I realize how naive I was. First thing to note is that of the $1T+ total market cap, roughly 10% is on CEXes. Does that mean that the other 90% belong to users and other companies like e.g. MicroStrategy? In addition to that, OKX is ranked #2: CoinGecko's exchange tracker Let me remind you that, as per OKX's Terms of Service, they reserve the right to register your funds in either their or a custodian's name, as per one of my last posts: ​ Custody risk 6.36 OKX may hold Fiat Currencies and Digital Assets with third parties. However, the Digital Assets OKX holds are not “deposits” nor are they intended to be held as any other regulated product or service under Applicable Laws. 6.37 In certain circumstances permitted by the Applicable Laws and Regulations or market practice of the relevant jurisdiction OKX may register or record a User’s Account in the name of the custodian or under OKX’s name. If the Accounts are held in the name of the custodian or OKX’s name, such assets may not be segregated from OKX’s assets and, in the event of a default by the custodian or OKX, may not be as well protected from claims of the creditors of the custodian or OKX’s creditors as would be the case if the User’s client assets had been segregated from the assets of the custodian or OKX’s assets. 6.38 In the event of the insolvency or any other analogous proceedings of a third party holding a User’s Fiat Currencies and/or Digital Assets, OKX may only have an unsecured claim against the third party on the behalf of a User and a User may be exposed to the risk that the Fiat Currencies, Digital Assets or any other property received by OKX from the third party is insufficient to satisfy the User’s claim and the claims of all other relevant Users. 6.39 If OKX deposits a User’s Fiat Currencies and/or Digital Assets with a third party, such Fiat Currencies and/or Digital Assets may be pooled with those belonging to other Users. In such circumstances, a User’s individual client entitlements may not be separately identifiable by separate certificates, other physical documents of title or equivalent electronic records and, in the event of an irreconcilable shortfall after OKX’s insolvency, any Users whose assets have been pooled may share in that shortfall in proportion to their original assets in the pool. Any entitlements or other benefits arising in respect of pooled assets will be allocated pro rata to each User whose assets are so pooled. 6.40 Fiat Currencies and/or Digital Assets may be held by a third party appointed in good faith by OKX, or by OKX’s nominees or sub-custodians. Such third parties are not under the control of OKX, and OKX accepts no liability for any default of any nature by such third parties and, in the event of any such default, a User may suffer total or partial loss in respect of the User’s Account. The extent to which a User may recover its Fiat Currencies and/or Digital Assets in jurisdictions may be governed by specific legislation or local rules. ​ When you go to Coin Market Cap, the top 10 is a bit different: CMC's exchange tracker I remember reading somewhere here that Binance owns CMC. Is that correct? TL;DR After the fall of FTX and after reading so many ToS, I'm baffled by the amount of actors out there trying to "hold you coins" for you. I was not expecting such a high amount of CEXes and none of them are your friends, as per some of the ToS I've read. submitted by /u/reddito321 [link] [comments]

  • Dissolution by Bardos - Digital Grunge combined with Live Looping FX Synthesizers
    by /u/BardosThodol (NFT) on February 1, 2023 at 1:16 pm

    submitted by /u/BardosThodol [link] [comments]

  • [AMA] We are Fluid Finance - A Swiss based financial alternative. On- and off-ramp directly to your web3 wallet, without using an exchange. Ask us anything about our app, savings products, our DEX and our plans for the future!
    by /u/fluid-fi (Cryptocurrency News & Discussion) on February 1, 2023 at 1:11 pm

    Hi everyone! Boy do we have a lot to talk to you about! We're Fluid Finance, a Swiss based financial alternative. A quick pitch: we allow our users to on- and off-ramp to your Web3 wallet directly from your bank account. You can do this by minting our stablecoin DUSD (Digital US Dollar): each digital dollar is backed with a real dollar in a ring fenced treasury account. Security is our priority, and 100% of deposits are insured. It doesn't matter how much DUSD or ETH you hold in your web3 wallet, you'll always be able to redeem it directly to your Fluid account. All you need is an email address to sign up. Swap any token on arbitrum to DUSD using our Fluid Swap DEX - which is powered by Paraswap. We're about to launch our physical card programme for our global users. So you can off-ramp from crypto and spend your crypto gains anywhere in the world that accepts MasterCard. We’ve already got virtual cards enabled for all your online spending. We've just launched our first DeFi savings product in collaboration with Balancer, so you can get your DAI or DUSD to earn 6-14% APY. Or you could just hold cash in your off-chain "digital cash" account with us without owning a $FLUID token and a targeted 4% APY return on up to $1000 - if you want to level up, you can buy Fluid tokens to get to a higher tier in our tier system. Did I mention that the earnings on digital cash accounts are paid daily? There's also no lock-up. FLUID tokens represent unregistered equity in the company, it's our aim to eventually distribute dividends to token holders that register as shareholders. We've just finished the pre-sale for our arbitrage token, which we’ll be launching soon. Dividends are based on an arbitrage bot that takes advantage of discrepancies between official and market rates of currencies, using crypto. This kind of fund is only usually available to high level investors - but you can get involved for as little as $1. Taking this AMA is our CEO Robert Sharratt /u/RES_fluid and our CMO Jessica Walker /u/JW_fluid. We're so excited to answer all your questions! Start time: 3pm CET End time: 6pm CET Some links if you’d like to explore Fluid for yourself. Our App: app.fluid.ch Our DEX: app.fluid.ch/swap Website: fluid.ch Team page: https://fluid.ch/team/ Info on digital cash and DUSD: https://fluid.ch/our-products/digital-cash/ Info on the Arbitrage Fund: https://fluid.ch/our-products/arbfund/?utm_source=sb Twitter: twitter.com/fluid_fi Fluid token Contract address on arbitrum: 0x876ec6be52486eeec06bc06434f3e629d695c6ba submitted by /u/fluid-fi [link] [comments]

  • [AMA] We are Fluid Finance - A Swiss based financial alternative. On- and off-ramp directly to your web3 wallet, without using an exchange. Ask us anything about our app, savings products, our DEX and our plans for the future!
    by /u/fluid-fi (Cryptocurrency News & Discussion) on February 1, 2023 at 12:59 pm

    Hi everyone! Boy do we have a lot to talk to you about! We're Fluid Finance, a Swiss based financial alternative. A quick pitch: we allow our users to on- and off-ramp to your Web3 wallet directly from your bank account. You can do this by minting our stablecoin DUSD (Digital US Dollar): each digital dollar is backed with a real dollar in a ring fenced treasury account. Security is our priority, and 100% of deposits are insured. It doesn't matter how much DUSD or ETH you hold in your web3 wallet, you'll always be able to redeem it directly to your Fluid account. All you need is an email address to sign up. Swap any token on arbitrum to DUSD using our Fluid Swap DEX - which is powered by Paraswap. We're about to launch our physical card programme for our global users. So you can off-ramp from crypto and spend your crypto gains anywhere in the world that accepts MasterCard. We’ve already got virtual cards enabled for all your online spending. We've just launched our first DeFi savings product in collaboration with Balancer, so you can get your DAI or DUSD to earn 6-14% APY. Or you could just hold cash in your off-chain "digital cash" account with us without owning a $FLUID token and a targeted 4% APY return on up to $1000 - if you want to level up, you can buy Fluid tokens to get to a higher tier in our tier system. Did I mention that the earnings on digital cash accounts are paid daily? There's also no lock-up. FLUID tokens represent unregistered equity in the company, it's our aim to eventually distribute dividends to token holders that register as shareholders. We've just finished the pre-sale for our arbitrage token, which we’ll be launching soon. Dividends are based on an arbitrage bot that takes advantage of discrepancies between official and market rates of currencies, using crypto. This kind of fund is only usually available to high level investors - but you can get involved for as little as $1. Taking this AMA is our CEO Robert Sharratt /u/RES_fluid and our CMO Jessica Walker /u/JW_fluid. We're so excited to answer all your questions! Start time: 3pm CET End time: 6pm CET Some links if you’d like to explore Fluid for yourself. Our App: app.fluid.ch Our DEX: app.fluid.ch/swap Website: fluid.ch Team page: https://fluid.ch/team/ Info on digital cash and DUSD: https://fluid.ch/our-products/digital-cash/ Info on the Arbitrage Fund: https://fluid.ch/our-products/arbfund/?utm_source=sb Our Telegram: https://t.me/fluid_fi Twitter: twitter.com/fluid_fi Fluid token Contract address on arbitrum: 0x876ec6be52486eeec06bc06434f3e629d695c6ba submitted by /u/fluid-fi [link] [comments]

  • [OC] The list that nobody asked - I made the Top50 cryptocurrencies as pokemon.
    by /u/Not_a__Lawyer (Cryptocurrency News & Discussion) on February 1, 2023 at 12:51 pm

    Greetings from Portugal. So, this bear market and the lack of green candles has driven me crazy. We love crypto. And I belive a lot of us love Pokémon too. So enjoy this list of cryptocurrencies as if they were Pokémon. 1 Bitcoin (BTC) - Arceus - The god that created all the other ones. . 2 Ethereum (ETH) - Gholdengo - it's the "new" and the evolved version of gimmihoul (coin pokemon). If he's better, well it is debatable. . 3 Tether (USDT) - Zubat - Almost entire communities holds a grudge about him. BUT if, for some reason, he dissapeared, oh boy, things would go ugly for a while. . 4 BNB (BNB) - Dragonite - One of the first and and one of the best, yet there are always some slightly better options. . 5 USD Coin (USDC) - Shiftry - He was fine in the past, had a purpose and delivered. Now he's declining as time passed by. . 6 XRP (XRP) - Aggron - Been around for a long time, everyone that's used it has likes him, hated by the rest. . 7 Binance USD (BUSD) - Milotic - Shiny and loved by many. He's good but used to be better. . 8 Cardano (ADA) - Talonflame - In the beggining he was very small with little power. But once people dedicated time to envolve him, become on the greatest ever. . 9 Dogecoin (DOGE) - Rattata - One of the first to ever exist. We all know he's not strong or powerful, but he's deeply loved by some and will always have his place. . 11 Polygon (MATIC) - Greninja - Altought he's kinda new, it feels like he's been here since the beggining. One of the community favourites because he's specs are great. . 12: Polkadot (DOT) - Lapras - The transport pokemon. One of the most famous and usefull ever, but requires a lot of work, which isn't suitable for newbies. . 13 Shiba Inu (SHIB) - Lillipup - A dog. Despite his cute face, I have no ideia why anyone would ever use it. . 14 Litecoin (LTC) - Donphan - Always looked interesting, but could never fullfill his potencial. Recent times have been good to them. . 15 Avalanche (AVAX) - Scizor - Their are beautiful and iconic. They also red. Their also can be destroyed by fire and hackers. . 16 Tron (TRX) - Beldum - Don’t have the best defenses, but seems like he could be quite good. . 17 Dai (DAI) - Wailord - He's bigger than most people are able to see it, but weaker than most people imagine. . 18 Uniswap (UNI) - Ditto - their main use is to transform into others. . 19 Wrapped Bitcoin (WBTC) - Dunsparce - Some people think he has a purpose. We just haven't found it despite years of trying. . 20 Cosmos (ATOM) - Magikarp - The one with biggest potencial. Their developing in the present will determine if they evolve into one of the best or stay useless. . 21 Chainlink (LINK) - Eevee - both are realiable choices. One of their best moves is SWIFT. . 22 UNUS SED LEO (LEO) - Agumon - The way he's envolving makes everyone suspicious that he is something else. . 23 Moreno (XMR) - Gengar - Used mostly by bad guys to do shady business. Nonethless, is more usefull than most of his peers. . 24 Ethereum Classic (ETC) - Corsola - Like all POW currencies, global warming might kill it. (We hope not) . 25 Toncoin (TON) - Cacturne - Not really good or bad things to say about them. They are, for sure, one of the list. . 26 Aptos (APT) - Beheeyem - I have no ideia what he is. Both of them are probably forgetable. . 27 Bitcoin Cash (BCH) - Wynaut - One day people asked if Bitcoin could be hated. Roger Ver asnwered "Why not?" and hyped BCH. . 28 Stellar (XLM) - Pidgeot - Used to be really good. Really fast and cheap to use. Still waiting for someone good to come back for it. . 29 OKB (OKB) - Sableye - In the past had some potencial, then his great moment happened when he mega evolved into something interesting a few years ago. Not been the same since. . 30 ApeCoin (APE) - Primeape - He's a monkey and he's sh*t. . 31 NEAR Protocol (NEAR) - Exeggutor - Stats wise he actually looks a legit and promising project. In the end he's probably sh*t. . 32 Cronos (CRO) - Slowbro - He isn't as bad as some people think. Capable of taking a lot of damage and still being able to work. . 33 Filecoin (FIL) - Mudsdale - A work horse with power to do a lot of work. . 34 Algorand (ALGO) - Zoroark - So much hype. Wasn't strong enough to endure the hardest battles. . 35 Lido DAO (LDO) - Haunter - Will either be really good soon, or stay like this forever. . 36 Quant (QNT) - Amaura - I don't know what XXX is. So, for me QNT is a random coin. I randomly generated a pokemon and got Amaura. Seems logic enough for me. . 37 VeChain (VET) - Klinklang - Made to be great in theory and he is good at many things. He may have a screw loose. . 38 Hedera (HBAR) - Gliscor - Have a lot of usecases and once people start taking him seriously, we're gonna see him more. . 39 Internet Computer (ICP) - Milktank - Both of them had their 15 minutes of fame, and then they "rolled out" to insignificanse. . 40 Decentraland (MANA) - Porygon - They seem to belong to a different world. The design is so bad that can give seizures. . 41 Fantom (FTM) - Finneon. Not very good at anything. Both are blue, kinda forgetable and have similar names. . 42 Aave (AAVE) - Mr. Mine - Builds an impenetrable wall that is penetrable by some. . 43 BitDAO (BIT) - Cubone - I swear some of this smaller currencies are unknown even to their mothers. . 44 Axie Infinity (AXS) - Meowth - If you use him to battle it can be a really fun experience. If you use him to get money, he will steal yours. . 45 EOS (EOS) - Lucario - SO MUCH HYPE back in the day. . 46 Flow (FLOW) - Vivillon - interesting project than is only available in certains parts of the world. . 47 MultiversX (EGLD) - Darmanitan - They kinda had some rebranding to him, which didn't convinced a lot of people. . 48 Terra Classic (LUNC) - None - There isn't a pokemon despicable enough or inspired in a rug. . 49 The Sandbox (SAND) - Sandshrew - You take a guess, I'm not explaining. . 50 Theta Network (THETA) - Tinkaton - I belive their are very promising, without a lot of competitors in its category. submitted by /u/Not_a__Lawyer [link] [comments]

  • Bitcoin Recorded its Best January in 10 Years With a 39.6% Monthly Surge
    by /u/bingorunner (Cryptocurrency News & Discussion) on February 1, 2023 at 12:26 pm

    submitted by /u/bingorunner [link] [comments]

  • Why is there no simple mobile app for displaying NFTs?
    by /u/solutionboy (NFT) on February 1, 2023 at 11:45 am

    All I am looking for is a basic gallery app, to which you can connect wallets, that will then cleanly display NFTs, both video & still. They need to display full screen, with no overlays unless requested, with none of the mobile OS displaying. This can then either be mirrored or cast to the larger screen if you wanted to. Ideally, you would b able to set up 'playlists', with timings and transitions. This seems like such a basic thing that should be available, but there just seems to be nothing out there that does this. If this is out here, can anyone point me to it, please? Many thanks! submitted by /u/solutionboy [link] [comments]

  • I'm launching my NFT collection, Spiriton, to fund my videogame. Making more everyday live on Twitch.
    by /u/Wurizen (NFT) on February 1, 2023 at 11:40 am

    submitted by /u/Wurizen [link] [comments]

  • ARK Invest Maintains Prediction That Bitcoin Prices Will hit $1M by 2030
    by /u/BithloKing (Cryptocurrency News & Discussion) on February 1, 2023 at 11:07 am

    submitted by /u/BithloKing [link] [comments]

  • NFT Gaming: Revolutionizing the Gaming Industry
    by /u/samualdiaz666 (NFT) on February 1, 2023 at 10:48 am

    The gaming industry has been undergoing a transformation with the rise of Non-Fungible Tokens (NFTs). NFTs are unique, indivisible digital assets that use blockchain technology to certify their ownership and authenticity. In the gaming industry, NFTs are changing the way players own and trade virtual assets, providing a new level of ownership and value to in-game items. In this article, we will explore how NFTs are changing the gaming industry, the unique features of NFTs in gaming, and important steps to consider before developing an NFT gaming platform. For more:https://www.atoallinks.com/2023/unlocking-the-world-of-nft-gaming-a-journey-into-the-future-of-digital-collectibles/ submitted by /u/samualdiaz666 [link] [comments]

  • The Parallel Worlds. The Symphony.
    by /u/Villasaar (NFT) on February 1, 2023 at 10:42 am

    submitted by /u/Villasaar [link] [comments]

  • Cardano stablecoin Djed TVL hits $10M in 24 hours, ADA up 4%
    by /u/ahabraken (Cryptocurrency News & Discussion) on February 1, 2023 at 9:30 am

    submitted by /u/ahabraken [link] [comments]

  • Britain sets out plans to regulate crypto industry in wake of FTX collapse
    by /u/Boohl (Cryptocurrency News & Discussion) on February 1, 2023 at 9:19 am

    submitted by /u/Boohl [link] [comments]

  • Interference Flower, 6 x 2 Tezos.
    by /u/Especuloide (NFT) on February 1, 2023 at 9:18 am

    submitted by /u/Especuloide [link] [comments]

  • Shameful Scam Victim. What next?
    by /u/Nicole-Boner (NFT) on February 1, 2023 at 7:41 am

    I hate to admit it, but I was sucked into a crypto scam. When I went to the website used for taxing NFT’s, it no longer existed. I contacted the person who was supposedly going to buy my work off of the site and she informed me that she would return my ETH to my Gemini account if I sent her a link via Gemini to do so. The steps seem legit, but I don’t want to get scammed… Again. (It’s safe to assume this person has ties to this “website”). I have contacted my bank, and they said I will most likely get my funds back within two weeks. Has anyone unfortunately ever been down this road before, if so, or if not if you have any information or knowledge you can pass my way as I am new to this; I would greatly appreciate it. submitted by /u/Nicole-Boner [link] [comments]

  • CoinbaseNFT, ethereum collection, ‘skililo’
    by /u/cysixsage (NFT) on February 1, 2023 at 7:32 am

    submitted by /u/cysixsage [link] [comments]

  • Why don't we have discussions about cryptocurrency fundamentals anymore?
    by /u/Two_Pickachu_One_Cup (Cryptocurrency News & Discussion) on February 1, 2023 at 5:26 am

    Back in the day (I know I am sounding like an old man) this sub used to engage in serious discussion about the fundamentals of cryptocurrency. Take for instance IOTA, I'll never forget when it was popular there were many informative posts comparing the fundamentals of IOTA against other popular cryptocurrency of the day. Nowadays literally all I see on this sub is shallow talk about exchanges, crypto figureheads or occasionally mindless shilling or pricetalk. I'm not downplaying the significance of those discussions but simply point out that those informative posts about crypto fundamentals are rare as hens teeth these days. So what happened and what can we do to bring these posts back to the forefront of this sub? I know there are separate subs relating to cryptocurrency fundamental talk but they do not compare with the exposure on this sub. submitted by /u/Two_Pickachu_One_Cup [link] [comments]

  • Decentralized ‘Twitter Killer’ Nostr Goes Live On Apple’s App Store
    by /u/economist_kinda (Cryptocurrency News & Discussion) on February 1, 2023 at 5:08 am

    submitted by /u/economist_kinda [link] [comments]

  • Celsius Was Using QuickBooks for Its Accounting—Just Like FTX
    by /u/mhucpr (Cryptocurrency News & Discussion) on February 1, 2023 at 12:39 am

    submitted by /u/mhucpr [link] [comments]

  • Sharing an article about collecting NFTs and the importans of terms and conditions
    by /u/Deep_Hovercraft_3325 (NFT) on February 1, 2023 at 12:27 am

    This post breaks down the key factors to consider before making an decision what NFT to invest in. From researching marketplaces, platform terms & conditions, artists, and secondary market trading If this topic also interests you, then you can read the article here: https://open.substack.com/pub/kanvasai/p/investing-in-digital-assets?r=1x9p94&utm_campaign=post&utm_medium=web submitted by /u/Deep_Hovercraft_3325 [link] [comments]

  • Hal Finney predicted that NFTs would be huge all the way back in 1993. Truly a visionary gone way, way too soon.
    by /u/NathanGorgeous (NFT) on February 1, 2023 at 12:09 am

    submitted by /u/NathanGorgeous [link] [comments]

  • Daily General Discussion - February 1, 2023 (GMT+0)
    by /u/CryptoDaily- (Cryptocurrency News & Discussion) on February 1, 2023 at 12:00 am

    Welcome to the Daily General Discussion thread. Please read the disclaimer and rules before participating.   Disclaimer: Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and exercise utmost caution before acting on any trade tip mentioned here. Please be careful about what information you share and the actions you take. Do not share the amounts of your portfolios (why not just share percentage?). Do not share your private keys or wallet seed. Use strong, non-SMS 2FA if possible. Beware of scammers and be smart. Do not invest more than you can afford to lose, and do not fall for pyramid schemes, promises of unrealistic returns (get-rich-quick schemes), and other common scams.   Rules: All sub rules apply in this thread. The prior exemption for karma and age requirements is no longer in effect. Discussion topics must be related to cryptocurrency. Behave with civility and politeness. Do not use offensive, racist or homophobic language. Comments will be sorted by newest first.   Useful Links: Beginner Resources Intro to r/Cryptocurrency MOONs 🌔 MOONs Wiki Page r/CryptoCurrency Discord r/CryptoCurrencyMemes Prior Daily Discussions - (Link fixed.) r/CryptoCurrencyMeta - Join in on all meta discussions regarding r/CryptoCurrency whether it be moon distributions or governance.   Finding Other Discussion Threads Follow a mod account below to be notified in your home feed when the latest r/CC discussion thread of your interest is posted. u/CryptoDaily- — Posts the Daily General Discussion threads. u/CryptoSkeptics — Posts the Monthly Skeptics Discussion threads. u/CryptoOptimists- — Posts the Monthly Optimists Discussion threads. u/CryptoNewsUpdates — Posts the Monthly News Summary threads. submitted by /u/CryptoDaily- [link] [comments]

  • 'Meltdown to zero': Kevin O'Leary says there's a 100% chance of another crypto debacle — and that it will happen 'over and over and over again.
    by /u/Intelligent_Page2732 (Cryptocurrency News & Discussion) on January 31, 2023 at 10:44 pm

    submitted by /u/Intelligent_Page2732 [link] [comments]

  • My new NFT on Foundation — Animated hypnotic stuff. Hope you like it!
    by /u/wassup__22 (NFT) on January 31, 2023 at 9:01 pm

    submitted by /u/wassup__22 [link] [comments]

  • Bitcoin has broken above the short-term and long-term holder cost basis and Realized Price all at once. This has only happened three time in history, each was a reversal after bottom formation.
    by /u/partymsl (Cryptocurrency News & Discussion) on January 31, 2023 at 8:55 pm

    I think we have had a lot of posts of Bitcoin breaking above this and that trendline (and a majority probably came from me alone) but here one of the last ones that sums them all up a bit. One of the most important trend-lines are the short-term and long-term holder costs basis, which show the cost basis for short-term and long-term holders each, meaning when the break even point could be according to on-chain data. The Realized Price is also one of the most popular ones and this one is simply calculated with on-chain data that shows the average price that each person paid for their coins, divided by total supply. Each bear market Bitcoin drops below those three and uses them as resistance often, those three are also one of the most consistent indicators in Bitcoin history. ​ From Glassnode Onchain Insight As we can see now after last months rally, we were able to break above all of those three at once. The short-term holder basis fell first as it was sitting at $18.9k, then the Realized Price which was at $19.7k. Lastly we even got the Long-term holder costs basis which was at a $22.3k. Only three previous times in history had BTC broken above all of those three at once, and each was the reversal from the respective bear market. In 2012, 2015 and 2018, now also 2023. For many those technicals may not mean much but at the end of the day you can get a general overview on how significant this rally, no normal bear market rally goes this high or at least did not yet. submitted by /u/partymsl [link] [comments]

  • Elite DarkWeb Hacker Group, "1inch" just hacked the CryptoCurrency subreddit.
    by /u/GabeSter (Cryptocurrency News & Discussion) on January 31, 2023 at 8:19 pm

    If you visited the CryptoCurrency sub while on a PC, you may have noticed that there is now a QR code on the top from Elite DarkWeb Hacker Group "1inch". Immediately after hacking our sub, 1inch used their Twitter account to announce the hack to their over 1.3 million followers and announced their next target, our precious Moons. https://preview.redd.it/nb0f45vvtefa1.png?width=768&format=png&auto=webp&s=7f5d6c567152b3348b4ddd674268aec1a06961fd Crypto Twitter was obviously thrilled about the new existential threat facing Moons, but Redditors were on their game and quickly respond, so their Moons weren't stolen. https://preview.redd.it/0jjfalmy8ffa1.png?width=989&format=png&auto=webp&s=9da0f61d57b153e36d74331aec0b2464a2ae1d92 https://preview.redd.it/pa7hpv7liffa1.png?width=989&format=png&auto=webp&s=6ef97ba7b9b7fd267b3c55259f7ee48d47f01286 https://preview.redd.it/d2hja60bwefa1.png?width=989&format=png&auto=webp&s=3f32ec37db6eee9eb7d43197f12f721f86beda11 ...unfortunately... they made a huge mistake. https://preview.redd.it/wk55dqu49ffa1.png?width=989&format=png&auto=webp&s=4c8dddbdc896b879881d58a981b958eb55eb87e5 https://preview.redd.it/75mibzepiffa1.png?width=989&format=png&auto=webp&s=3c7b87ee0dbbcae71f361afbde3bd45d620ce7d4 https://preview.redd.it/kmnxq35gaffa1.png?width=925&format=png&auto=webp&s=59bd9f33e01c40f3f3ce62b98ffca47b7060c757 Don't be like Maxx3141, Odlavso or DeathbyFish13 and burn your moons by losing access to your Reddit vault and not having a backup. ------------ Your Reddit vault is just an Ethereum hot wallet on Reddit with limited functionality. The best thing to do is have a physical backup of your recovery phrase (seed) - so if you ever lose your primary device, you can import that wallet onto any other device anywhere in the world. In addition to that, you can also backup your wallet on a Defi non-custodial hot wallet like MetaMask, Exodus and 1inch. 1inch provides support for Arbitrum, but does not provide support for Arbitrum Nova, this mean you can't access your Moons from their platform. You could however still use 1inch as a backup to store/locate your recovery phrase on a secondary device. That way if you lose access to your Reddit vault on your primary device, you don't lose access to your moons. ------------ A Special Thanks to 1inch from the CryptoCurrency Community for becoming the first ever entity to advertise using the CryptoCurrency Banner and in the process burning 27,000 moons (currently worth about $3,350). https://preview.redd.it/5wdsdp09mffa1.png?width=1899&format=png&auto=webp&s=f79e6bed05f4a997aee99ae173f8f3aefe55dfb4 submitted by /u/GabeSter [link] [comments]

  • NFT Price Alert Project using django with a bot on my github
    by /u/farzadex (NFT) on January 31, 2023 at 7:36 pm

    Hey everyone, I’ve created a simple NFT price watcher project using django which alerts you on your server. The github link is in the comments. Please read the project description on github page. The idea of this project was to create a community of people and see the distribution of targets set by other users on collections (something like a sentiment). You can use the code for yourself or just join my server. Also appreciate it if you could help me make it better. Have a good day/night submitted by /u/farzadex [link] [comments]

  • What attribute contributes to NFTs' value the most?
    by /u/Alarmed_Pianist_4396 (NFT) on January 31, 2023 at 6:55 pm

    I want to start a discussion on where NFTs' value comes from. Perhaps it's a bit reductive to ask people to point to one specific attribute, but I want to know what is the greatest contributor to some NFTs' high prices. Please let me know more of your thoughts in the comments. View Poll submitted by /u/Alarmed_Pianist_4396 [link] [comments]

  • Our 43% rally this month, may have been one of the biggest short liquidations events in Crypto as 85% of traders were short and only 15% long during that time.
    by /u/partymsl (Cryptocurrency News & Discussion) on January 31, 2023 at 5:54 pm

    This month Crypto really did what it does best, shocking literally everyone with its moves that no one could have expected and this time we could actually say that it was EVERYONE. For that lets first rewind to the sentiment just after the FTX-implosion: Even more people had left the market and the remaining ones were to nearly 100% sure that we would go lower as $15k is in no way the current bottom, predictions of $10k were being passed around just as $100k prediction one year prior. Then Crypto did what it was meant to do, prove that no one can predict the market. Especially if everyone had the same prediction, this caused a 43% rally in one month, the biggest monthly gain since the very hype-peaks of the 2021 bull run. This flushed out $495M short contracts that were liquidated, which happened during the three occasional pumps we had, as seen below: ​ From Glassnode Such a dubious high number does not actually tell us much about the situation back then as there could have possibly been a lot of long liquidations too… That is not the case, we had 85% of the liquidations being short and only 15% of those liquidations were long. This is the largest ratio in the recent history. For comparison, before the FTX implosion we had also hit a record but wich was only 75% long to 25% short. ​ From Glassnode This clearly shows how wrong people were, how the crypto market will do the exact thing people do not expect and as always once again a warning to not use leverage to such an extent as this is literally like gambling even more while gambling already. submitted by /u/partymsl [link] [comments]

  • Im working on unique Blender+Photoshop NFTs, Very cheap to start my collection. My collection is .Spooky Season.
    by /u/neriego (NFT) on January 31, 2023 at 3:24 pm

    submitted by /u/neriego [link] [comments]

  • r/NFT Best of 2022 Mod Award Contest
    by /u/AsherFennec (NFT) on January 5, 2023 at 3:18 am

    Hey there r/NFT! As we go into this new year, we've decided to host a contest to give the creators of the best NFT projects promoted either on this subreddit or off-site the chance to win some Reddit mod awards. Mod awards are granted by moderators of subreddits and give the recipient one month of Reddit premium which gives the user 700 coins for each month they have the premium status. Awards will be distributed like this: - 1st place: 8 mod awards (8 months of premium, 5,600 total coins) - 2nd place: 4 mod awards (4 months of premium, 2,800 total coins) - 3rd place: 2 mod awards (2 months of premium, 1,400 total coins) - 4th-10th place: 1 mod award (1 month of premium, 700 total coins) In order to nominate a post, collection, or user, simply link their content in the comment section below and write a sentence or two as to why you think they deserve to get an award. Final award distribution will be done by the mods. Please note, projects that are not promoted on Reddit CAN ALSO BE NOMINATED! We will get in contact with the project owners and send them their awards to whatever account they would like them on. Nominations/comments will close on Feb. 1st, 2023, and winners will have to claim their rewards within 3 weeks of receiving notice that they won. If the award is not claimed, the coins for the award will remain in the mod coin vault until our next event. submitted by /u/AsherFennec [link] [comments]

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