Crypto or Fiat Money .:. Hive Humpday Hangout Ep.35 (Wednesday, December 11th, 5 PM UTC)

in #hive-1251257 days ago

After a short 1-week break, the #HHHLive show is back! The festive season is coming and this year, Christmas and the New Year coincide both on Wednesday! I suppose I will spend my time with family on those days, but we will see when those days come... At the moment, I'm thinking of changing the schedule of the show to run biweekly (every second week) and if we have special guests, we can make changes on the go...


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Created in Canva.com

I know that I could create shorter posts and these announcement posts publish only in a few sentences, but I always try to add more value to them, and then I spend too much time on preparations, the show itself, and the recap posts... It takes too much time and, while it's fulfilling to do it, I have to work on other things too...

So, back to the topic! Crypto or fiat? If you have checked any of my previous posts, you probably know my view on this topic... 😃 The same as for HIVE, I have no control or balance in my crypto-fiat bags... To be honest, I'm doing a bit better this year, but that's still far away from where I would like to be...

Like some tunning car addict, spending all money on his cars, I was doing the same with crypto in the last few years! Every fiat money that I would have, I would spend on some hardware for mining rigs (while I was mining ETH), or buy some crypto! My bank account was always almost empty and I would keep ONLY enough money to pay the bills... 😃 In those moments, my crypto-fiat ration was probably 95% to 5%, or even worse!


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Of course, that wasn't "healthy" and I decided to change it... It's impossible to live like that, especially as I needed fiat money to pay some "extra expenses" and I didn't have enough, changing from crypto in the bear markets is a waste of money! I have created a plan to take some profits when the next bull run comes, just to have enough fiat money for the days "in the bear"... I have already taken some when BTC hit 100K and I have exchanged some other tokens that had their pumps...

I was checking out some more experienced investors, trying to find the ideal ratio between investment assets and cash (fiat money)... There are no universal numbers as people have different strategies, different levels of risk, and different goals... But, from all those stories, I think that I will try to reach at least 20-25% of my portfolio converted into fiat (or stable coins) at the top of the bull market! Of course, when we are in the bear, and having some hard times, I will try to lower that number under 10%...


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Those are my views about this ratio, but how do you look at crypto and fiat? We will try to discuss that in the show and you are welcome to join and say/write your opinion and your strategy! Also, we can cover some other topics like (I got some help from AI-bot!)...

  • In what ways do the price stability and volatility of cryptocurrencies compare to those of fiat currencies?

  • Where do you have more fees, operating with crypto or fiat? (I had another "rant excursion" with my bank, so this could be a firey question for me 😃)

  • Security risks of crypto and fiat savings?

  • Which one do you trust more? 🙂

  • What are the implications of inflation on fiat currency versus cryptocurrencies?

  • How might the relationship between cryptocurrencies and fiat money evolve in the next decade?

Those are just some of the questions that we could discuss in the show, but if you have some additional, you can always ask in the show, or in the comment section!


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How was it in the last show? Two weeks ago, we had the freestyle version of the Hive Humpday Hangout where participants pick the topics, as the show starts with a blank sheet! And we had some great discussions about many different topics! As these "special edition" shows are not recorded, the only way to check out how it was is to read the recap post with my short observations... That's why the best way to "have the whole experience" is to come to the live show!

For all the participants, there are some LEN tokens for attending the show, and some special rewards (in Ecency POINTS) for those who were the bravest and came on the voice during the show!!! Don't forget that NOBODY is obligated to talk in the show, so you CAN come to listen and engage with others in the text chat... 😉

What steps you should take now:

  1. Join Ecency Discord here
  2. Check out your local time for the event at the top of the Ecency DISCORD side menu
  3. Click on the chat-voice channel on Wednesday, 5:00 PM UTC (check your local time here)
  4. Follow the event-chat channel during the show and engage with others!
  5. Share the buzz about the show on Ecency Waves, PeakD Snaps, and InLeo threads using the tag #HHHLive and be rewarded with upvotes!

Or just click on this link to lead you directly to the Event announcement, where you can see all the info!

If you would like to discuss a certain topic in future shows, please let me know in the comment section... See you soon!!!

Thank you for your time,

--ph--

Inviting people who asked to be tagged in the announcement posts: @borniet, @chinay04, @chocolatescorpi, @dantrin, @duskobgd, @felixxx, @foxkoit, @ganjafarmer, @gwajnberg, @incublus, @kvinna, @manclar, @melinda010100, @mell79, @mengao, @mypathtofire, @nabbas0786, @palomap3, @rafzat, @rarej, @travoved, @yummycruz1. If you want to be reminded about future shows, please ask to be added (or removed) to this list in the comment section!


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Check out these links to the previous shows:

Episode NumberTitleLink
SE10ValuePlan Discussion, Funding Startups, Games on Hive, etc.Link
34The Magical Kingdom! Talk with @hallmann!Link
33How Do YOU Vote For Hive Witnesses?Link
32To Delegate HivePower or Not?Link
SE093Speak issues and Discussion, Gambling Apps on Hive, Taxes, etc.Link
31Quiz Time!!! - HHHLive 1st AnniversaryLink
30How HIVE Changes LivesLink
29HiveFest9, Impressions by @ninaeatshere, @achim03, and othersLink
28How Do We Spend Our Crypto?Link
SE08The Gang is Back, Breaking the LimitsLink
SE07Ecency Waves, HivePower, Splinterlands, HiveFest, LPs, and more!Link
27How Hive Proposals Work?Link
26Content Creation ExperiencesLink
SE06Education, Traveling Ecency Spoilers, Hive elephants...Link
25Why Did the Hive Price Drop?Link
24What Do We Expect From Hive and Crypto!Link
23Aachen Meetup and WorldMapPin Talk With @detlev!Link
SE05Usernames Origins, Age, Early Retirement, Crypto Portfolio, and more...Link
22Helping Hive to ThriveLink
21Make Yourself Uncomfortable (on Hive!)Link
20First Excursions Out of the Comfort ZoneLink
SE04BuzzParty Impressions, Weekly Recap, BonfireLink
19Ways To Buy/Sell Hive!Link
SE03Foods, Crypto Research, Education, PredictionsLink
18Best Tools For Content CreationLink
17Consistency and Adding ValueLink
SE02After Show ShowLink
16CBRS Philanthropy Chat With @minigunner!Link
15Profit Taking PlanningLink
14Ecency/Hive Chat With @good-karma!Link
SE01Relaxed "Exclusive" SessionLink
13Writer's Block and How To Overcome ItLink
12Hive-Engine TokensLink
11Hive Guidelines for NewbiesLink
10NY Resolutions and Creating Hive GoalsLink
9How Was Your (HIVE) 2023?Link
8Presenta tu comunidad - ES/EN Show! - Part 2Link
7Present Your Community - Part 1Link
6How to Start on Hive?Link
5Do You Upvote Quality Posts?Link
4Genuine? Authentic? To be or not to be?Link
3Hive Power, HP Delegation, HivePUD...Link
2Hive Meetups, HiveFest, HiveBeeConLink
1Pilot Episode (Aired 2023-10-18) - The VisionLink


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👉 Vote for Liotes HIVE Witness HERE 👈

Don't forget to follow, reblog, and browse my Hivepage to stay connected with all the great stuff!

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Great initiative

Thank you... That was just an announcement post for the show... Stay tuned for the recording that should come out soon!

I tried my best to draw this illustration 🤣
a1.png

Hehehe... That on the top is "Moon-Withdraw"?
So, when you earn money from crypto, you will invest in IRL business and work even more than now? 😜

It's a cycle for now until I have freedom 😉

There's a whole lot of uncontrollable risk involved in crypto, today you are a billionaire and tomorrow you are broke in just few hours, it's better to play safe by going with probably less than 20%

Interesting thinking... If you HODL-ed Bitcoin from 2011, you would never be broke... Maybe less rich, but not definitely not poor... :)

On the other side, if you kept some hyper-inflationary fiat currency, you could finish like that easily... 😃

😁👌👌 thanks

Sounds like it will be a great show, its not easy to time the market, but I guess we all have to try our best. I wonder if it is possible to just get a cheap loan to live off during the bear and then you dont need to hold stables/fiat and can keep your stack intact!

Huh... That's not a bad idea, but not for me, probably... lol... I did some experiments with lending and borrowing at the same time, and it didn't go well... lol... I would rather HODLing some fiat during the bear and slowly DCA back into crypto, while in the meantime lending part of it for some fees... 🙂

But, your idea isn't bad at all... It's Sailor's style... 😂

That sounds like a sound strategy and makes sense!

i would go for 20% crypto, 80% fiat ... crypto is too volatile, most of crypto risk to bring you bankrupt and that's not good with a family and sons to feed...also basically no one here accepts payments in crypto so want it or not you need fiat (unless you use binance card but then kyc gets you and state asks for taxes!)

Believe it or not, there are solutions for all the problems that you listed... :) I suppose that everyone has a different ratio and balance in these things. We will have an interesting show tomorrow, for sure! 🙂

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It's an interesting topic. As we are all in the crypto space, we have to consider how to minimize the risk and get the best return that we can. It's tough but money is a part of crypto. I do think that crypto tends to be a bit more risky than fiat alternatives though because the space is still so new.

It is all about the (personal) perspective... For some crypto is risky, for others fiat is risk(ier)... Anyway... We had an interesting discussion, and I have to admit, I was a bit surprised by how much some participants are involved in crypto!

@tipu curate

You have a solid strategy, as you've already taken some profit when BTC hit 100k. I think you've done a lot of crypto experimentation over the years and the downside is that you lose money. The upside is that you gain some experience and you eventually win in the long run.
I think you'll win in this bull cycle, you've put enough and you've done so many trials and error over the years lol

Hahaah... You painted me very bad... lol... 😂
I'm thankful for all the mistakes that I made in the past as they saved me a lot of money in the present, and possibly in the future...

Luckily, my losses weren't that big, so I paid my lessons relatively cheap :)

I think there's no right or wrong.. For me, I still see cryptos as a form of "investment", just like bonds, stocks, gold, property, and some might also say artwork or wine. It's just another new asset class. Every asset class has their pros and cons and caters to people with different risk appetites and investment objectives.
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In the end, it is a "personal" preference... But, I was surprised by the show and the shares from the participants. I thought that I was the "weirdest" regarding the crypto-fiat ratio, but... 😃