AskLeo - At What Point Would You Consider Going ALL IN Crypto? Like Literally All In...

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There has been a thought that's been bothering me for a while and after I watched @taskmaster4450 video on Western Europe's not so bright future, that thought popped again.

At What Point Would You Consider Going ALL IN Crypto? Like Literally All In...

I guess not too far from now. I analyzed my finances lately, both fiat and crypto ones and had I been all in crypto by now I'd definitely be "more financially potent atm". Had I simply "put my money where my mouth is", I should have exchanged all the cryptos I have for HIVE.

Now, despite not being yet in the situation where life has become a living prison on this planet, it all feels so constrictive. Inflation is clear, restrictions are not going away any time soon and are a pure robbery on our fundamental freedoms...

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Hence, I feel that I might get all in crypto in probably less than three years from now. The legacy systems is becoming so poisonous. Somehow I'm highly involved in crypto, as my only income comes from crypto, it's just that I convert crypto to cash, or directly pay with it quite often, but my savings in cash are gradually loosing ground against the crypto ones.

The moment that would definitely make me do the "ultimate transition" is when I'd see this country showing clear signs of going cashless. The last thing I'd do, is take my money to the bank. I literally hate them... I hold just a few bucks in my bank account just to pay for the monthly fees, but nothing more than that.

In case of needing to leave the country on a rush, holding crypto instead of cash or whatever, would come more at hand as well. I am not all in crypto atm, but I believe in the following years will do that transition.

Even if we get a blow off top this year and my coins go ballistic, not much will be exchanged for cash. The whole ecosystem of crypto offers better use cases for putting money to work than the traditional world does. I would probably find even more reasons to make that transition as soon as possible...

... but it's national day and I started to hate writing long posts that nobody reads. What about you, when do you see yourself doing this transition?

Thanks for attention,
Adrian

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48 comments
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So you are saying you see how poisonous legacy system is, and you are considering going full crypto in three years? Apparently I don't understand something. What holds you within obsolete, hierarchical system based on violence and exploitation?

Apart from crypto I have 2005 Opel Astra Kombi and €200 for everyday spendings. On the peak I'm going to go to stable coins, no way out in any significant way.

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I still have some cash, as savings, that I spend from once in a while and that's about the time I believe it will take me to spend it all. As I wrote in the post, I will not cash out considerable amounts, even when the market goes ballistic. In cash of an emergency cash is still kind around here... Thus still something under the mattress :)
What engine on your Opel, by the way?
I owned a Corsa a few years ago.

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1.6 petrol, but with LPG instalation in it, it's cheap to drive, all I need. However, it eats engine oil like crazy.

BTW, when do you expect this cycle to top?

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My Corsa was eating oil as well. You "should try" the turbo engines from Volkswagen, up to 1 liter of oil consumption per 1000 km.
I don't believe it will top anytime soon, I don't even believe in the "classical top" anymore. All the metrics are different now.

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In general its true, it seems like something massive is going to happen, however, I'd expect some sort of black swan event type reaction by legacy system, then one last bear, and going absolutely mainstrem in 4years, but this is just classic cycle-based expectation. We'll see how it'll unfold. It's hard to say anything for sure in these conditions.

Cheers!

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The black swan might come from massive protests and disobedience, mostly affecting the legacy system, but I believe that thing will lead to even more adoption towards crypto.

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People are going to have to migrate away from the existing system into the new one. We are building something completely new. For this reason, we need to keep pushing things forward.

There is a lot that needs to be done and it all is tied to the network effect. That includes people, money, and activity.

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Well, it depends on quite some factors. If you have a really well-paid job I think even if you are making good money from crypto you would still hold onto that. But if you don't have anything holding you back, you would be stupid not to embrace crypto and make the most out of it.

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I'll be all in in February. Not exactly by choice, I was planning another year or two in my fiat job, but things change. Investment wise, All my investments and savings are in crypto. My retirement fund is the only exception, and I can't change that for quite a while.

All in, including no fiat income is a bit scary, with rent and bills and a family of 4 to support, but we'll give it a go.

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I understand. Having a family means that one should consider the risk of volatility.

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How are you going to minimize your tax burden this year?

Will crypto be healthy enough to use something like Spartacadabra to put up collateral to take out a loan?

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And when you say all in on crypto how do you mean? When most of your income comes from crypto and you crypto accounts its hold more financial power than the bank..Sounds like you are already all in on crypto to me

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I build it in stages. Anyone who asks me for portfolio advice, I suggest they set aside 5% for higher risk stuff and stuff with uncorrelated returns as a starting point. Crypto feels like it fits into bot classes. Then each month assess whether to push that up a bit. The way crypto markets have been moving, that 5% became 10% during 2021 without doing anything.

Next part is the higher target returns you want from your investing, the bigger that higher risk portion needs to be.

Process is simple enough then. Decide what your target return needs to be. If that is higher than the long run average for stock markets (say 8.75%) then you need to scale that 5% allocation up. The smart backstop is to have an emergency fund of 6 months cash accessible - then you can ride out a few bumps in the road.

With my Hive holdings the way they are I am well over the 5% but only growing as crypto grows = no new cash going in yet.

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For me it's still about convenience, I still pay my bills in fiat, and we both still have some income in fiat..

So it helps a lot of stacking that the crypto world and the fiat world don't mix very often.

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Not sure what exactly one means when saying "all in" .
If it is 99.99+%, then I certainly am not yet at this level.
But probably some ppl call it, once they achieve 94 or 98%

And this is a totaly diferent story.

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All in is like having a crypto based income, savings in crypto, spending crypto. I was pointing towards something like that.

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All in for almost a year now. A bit scary but I got used to it.

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No USD Fiat? I guess you pay through crypto cards for day to day?

Just a question if you have or had children. Would you put FIAT aside for college, buying them a flat, whatever...

Just so I understand better. Cheers !

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I'm using Nexo loans to get fiat for living expenses. Repaying with hive, leofinance, cub den, and splinterlands rewards.
Considering my name (oldtimer), my kids are grown-ups. I put them through universities before I entered crypto. They accumulate crypto on a regular basis. You can check out @ penticton and @ k4r1nn on hive. @ emmamia is not as active at the moment but still.

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I'm keeping track of my crypto passive incomes, and increasing them as much as I can. When my monthly passive is larger than my average work income I can retire.
I'm at about 2% right now, but thanks to the high LP rewards I can compound and become faster and faster every day.

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Wish you luck achieving that. I hope everyone will be in crypto in the next few years.

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I am literally all in ever since I got into crypto.

If you look at my portfolio and then ask me to loan you $50 or $100 in cash I wouldn't have that much money on me.

Necessities are paid for on a monthly basis. Everything else goes into stablecoins or different cryptos that generate more long-term value than cash ever could.

I'm also considering going all-in on the Hive ecosystem in the near future. Waiting for all the new airdrops and snapshots to unfold and then I will make my decision.

There are many downsides to holding all of your money in crypto but when your starting point in life is zero you can always go back to the default I guess. What is there for your to lose except an opportunity of a lifetime?

If it all goes to shit I will admit my defeat and apply for a job that I can always land. I just can't believe that a group of people this smart and this educated can fuck things up more than the boomers did with our financial system.

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That's what I should have done, going all in HIVE. I could have used that stake to curate and make even more.

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Well, I would go full crypto when it will be the only way to transact in day to day life.

I have a big part of my available assets in cryptocurrencies but I still need to have FIAT for day to day life, and as a hedge in case crypto drops in the short term.

But I am increasing the % of my total asset in cryptocurrencies for sure. I would even just by HODLing them I guess as they keep going up xD

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In case of needing to leave the country on a rush

Crypto and silver. And diesel ;)

We are actually looking into this scenario. Romania is on top of our list, but if the world tightens even more, it might just postpone the unevitable. So maybe Azerbaidjan...

I am 60% in crypto, 20 in silver, 10 in cash, and then some for the banking... Of all those, crypto is my favorite. But then let's not forget that the last year has been quite easy in crypto. I am not sure if a crypto winter is ever coming again, and if the CUB rewards then will be enough to continuosly feed me, but still unsure... Thrilling!

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The best thing about Romania right now is corruption. Otherwise we would be in the situation of Austria and Germany.

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Until I can work out a way to use Crypto to buy a pint of milk I will have to play both sides. Maybe in the next bull run, I will be more prepared.

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