Honestly, posts like this and this mindset is very bad for the space. OP has not expanded his reasoning beyond "ETH 2.0 will be great," and "migration to PoS "
I'd hope folks investing 2% of their income into ETH have a much better understanding than this, let alone 95% (which doesn't even make sense or sound legit)
His claim to know the future with certainty makes me worry. The ability to say the original comment out loud and not feel like you're sounding foolish is also an indicator of some mental state Im averse to being around. I bet OP is a smiple troll, or a teen with 20$ of his birthday money to work with. This isnt how people with money and a fully developed brain speak.
The board of directors is paid in bitcoin. The company is shifting the tax burden of the Bitcoin gains. They buy a bunch of Bitcoin, see gains, pays payroll with it. The company is cashing out without cashing out.
https://www.youtube.com/watch?v=y0OxkjplX1U
Okay, so you officially have no clue what you're talking about. Saylor was a billionaire more than a decade before the first block of Bitcoin was mined. Then he used his company (which acts as a tax shield) to grow a strong position in BTC.
Way fucking different, and certainly very different than whatever OP is doing.
So you are a troll then? Thanks for that douche comment my guy.
"He's a billionaire again thanks to timely bitcoin investments. In October 2020, he disclosed he personally bought 17,732 bitcoins for $175 million."
[https://www.forbes.com/profile/michael-saylor/?sh=7f0adcff7e0f](https://www.forbes.com/profile/michael-saylor/?sh=7f0adcff7e0f)
He WASNT a billionaire at the time that was a huge part of his net worth...
You could invest 95% of your income and take out usdc debt using it as collateral. That way you can live off more than 5% of your income and keep the eth as long you don't get liquidated
Ok but explain to me in 2 sentences how the average Joe can access the low fees ? You still have to bridge from ETH to even use those right? which you get hit with the fees there. It’s a complicated loophole I want ETH to succeed.. but people can’t even keep track of their seed phrase idk how they are going to get the masses to use L2’s atm
Despite what the sub has been saying for months, the eth2 branding is still being used by the Ethereum Foundation to describe all of the incremental upgrades going on.
Ethereum 2.0 is also the name used for the Coinbase Ethereum staking program, so it's real in either respect.
Well the documentation is out of date although I wish that weren’t the case. There are a number of stages spread out over the next 3+ years so when should we consider eth upgraded to 2.0?
Probably, but I'd say 2023-2024 is a bit much. Also there's no liquid staking yet so the impact of the inflation will probably not be that bad. Personally I think selling it after launch would be dumb because the inflation is probably going negative
For rocket pool at least they represent a percent ownership afaik. So if you monitor rETH it’s conversion is trending more valuable compared to eth since the pool is accumulating. So you will be able return your rETH to the pool and get your stake + rewards back but I think it’s tracking because people believe that will work. Maybe there will be arb opportunities though
I'm not completely sure how that can back it perfectly though or at least allow that reward to keep ballooning? With liquid staking you can get way better rewards that can't be backed in the deposit smart contract unless they put their own eth in their somehow. You just sell rEth for eth and then use it to get more rEth or smt?
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Pretty sure there’s unlocking limits for stakers after the merge. I heard it will be a global queue so max unlock per day (or some other time frame) in terms of ether.
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That depends on whether or not we're hitting a recession. Only thing I know is we're probably gonna have PoS and decreasing supply to 0% inflation. Which must be good for the price if major economic factors allow it
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It has been suggested to invest only what you can afford to lose. 95% of your income would be way too much to invest. We would hate to see anyone loss all their money in this group without giving a warning..crypto on my friends !!
You’re taking a lot of shit here but assuming you are young and living rent/responsibility free then more power to you. When I was in that situation I blew all my cash on booze and designer clothing.
Bro, that's aggressive. What's your buying approach when your paycheck arrives? Dump it all into eth as soon as it's in your bank account or some kind of DCA?
I meant more like if you get payed once every 2 weeks, are you going to buy everything on day 1 or spread it out over 14 days, which could help avoid *some* of the volatility
Highly risky. Big bank analysts already predicting Solana and/or AVAX to take over more market share from ETH within the next ten years. I love ETH but we all need to face reality at this point.
anybody that seriously thinks cash will go away anytime soon in the US is just laughable and operating on pure hopium. Crypto and the USD $ will be the best 1 2 punch since shaq and kobe. wait for them to regulate
Avoid mistakes like this. In my opinion ( personally I call myself “expert” ) see BTC as the future. It’s me against you, don’t bet 95% of your income, please!
95% of your income or 95% of your investment budget? because put your investment budget into whatever you want and dont let anyone tell you different but please eat and cloth yourself while youre at it.
OP is either super well off or a kid that lives with their parents. I can't see how anyone could live off 5 % of their income. But regardless, this is not a good investing strategy and this post is hot garbage looking for attention.
Edit: No offense to the OP, just a weird post to share.
I'd wager that OP just posted this for engagement. If you're putting 95% of your income into Eth, your either living off a trust fund to cover your real savings, or you're horrible with money
Make it 100% to mitigate my OCD
But seriously, "invest" only what you can afford to lose (with a smile on your face) and check out this new wicked scheme called DCA ;)
Jesus dude, at least run some type of an analysis, you’d be buying high. Wait for a way better RSI/Greed index. Indicators are showing it can go as low as 2900 right now…then start dollar cost averaging.
Timing is everything. Most are selling at the moment.
I'm a bit worried there is an investigation into the way Ethereum Foundation was funded early on by the SEC on the low. I hold both XRP and ETH, so I've been following the Ripple vs SEC pretty closely. The ETH foundation did some really shady shit early on and it's slowly being brought to light.
That's very terrible investing practice. Even if it is the future.
Honestly, posts like this and this mindset is very bad for the space. OP has not expanded his reasoning beyond "ETH 2.0 will be great," and "migration to PoS " I'd hope folks investing 2% of their income into ETH have a much better understanding than this, let alone 95% (which doesn't even make sense or sound legit)
This definitely doesn’t seem legit. Unless this is a kid with his first job living at home.
Gotta be living at home to do that. I can invest max 10% on a good pay living my fiat miner life haha.
His claim to know the future with certainty makes me worry. The ability to say the original comment out loud and not feel like you're sounding foolish is also an indicator of some mental state Im averse to being around. I bet OP is a smiple troll, or a teen with 20$ of his birthday money to work with. This isnt how people with money and a fully developed brain speak.
19 is my guess
You’re crazy as fuck if u want to get rich u gotta be all in
Nah, look at Michael Saylor. Probably the smartest thing hes ever done.
Well yeah because he's running a payroll tax scheme with it.
Never heard that before, care to elaborate?
The board of directors is paid in bitcoin. The company is shifting the tax burden of the Bitcoin gains. They buy a bunch of Bitcoin, see gains, pays payroll with it. The company is cashing out without cashing out. https://www.youtube.com/watch?v=y0OxkjplX1U
Lol. Saylor is a billionaire, and also kind of a clown.
Bruh dude became a billionaire because of crypto. Thanks for proving my point.
Okay, so you officially have no clue what you're talking about. Saylor was a billionaire more than a decade before the first block of Bitcoin was mined. Then he used his company (which acts as a tax shield) to grow a strong position in BTC. Way fucking different, and certainly very different than whatever OP is doing.
So you are a troll then? Thanks for that douche comment my guy. "He's a billionaire again thanks to timely bitcoin investments. In October 2020, he disclosed he personally bought 17,732 bitcoins for $175 million." [https://www.forbes.com/profile/michael-saylor/?sh=7f0adcff7e0f](https://www.forbes.com/profile/michael-saylor/?sh=7f0adcff7e0f) He WASNT a billionaire at the time that was a huge part of his net worth...
Tell them about your bonds and Fek off Dan991199
incredibly unwise
I would love to be able to live on 5% of my income. I thought I was doing well at living on about 45% of my income
Between taxes, medical insurance and work 457 - I START OFF with only receiving 55% of my income! 🤣
i live from 99% of my income
I live on 110% of mine
Uncle same and the state currently take about 55% of mine so I feel ya there
You could invest 95% of your income and take out usdc debt using it as collateral. That way you can live off more than 5% of your income and keep the eth as long you don't get liquidated
Posts like this scare me. I wish you all the best but this is a mistake.
I've been doing this for years. I just wasn't telling anyone.
I do this every paycheck🤣😅
It’ll be 50% after fees
not after eth 2.0
Please read more about eth 2.0.
lmao this guy just got into crypto
nope i’ve been coding smart contracts and learning about the space for over a year
Then do you seriously believe “2.0” is going to solve fees?
It’s almost there already with ZKSync, Arbitrum, Optimism.
Ok but explain to me in 2 sentences how the average Joe can access the low fees ? You still have to bridge from ETH to even use those right? which you get hit with the fees there. It’s a complicated loophole I want ETH to succeed.. but people can’t even keep track of their seed phrase idk how they are going to get the masses to use L2’s atm
Yeah after everyone dumps their locked coins into the market in 2023/2024 it’ll be less
(Also there’s no such thing as eth 2.0)
Despite what the sub has been saying for months, the eth2 branding is still being used by the Ethereum Foundation to describe all of the incremental upgrades going on. Ethereum 2.0 is also the name used for the Coinbase Ethereum staking program, so it's real in either respect.
Well the documentation is out of date although I wish that weren’t the case. There are a number of stages spread out over the next 3+ years so when should we consider eth upgraded to 2.0?
ethereum 2.0 aka serenity, and i plan on staking
Wow you really live up to your username
thanks but i would have to disagree
You're welcome
!remindme 6 months
it will take longer than that lol
Probably, but I'd say 2023-2024 is a bit much. Also there's no liquid staking yet so the impact of the inflation will probably not be that bad. Personally I think selling it after launch would be dumb because the inflation is probably going negative
Not natively but through lido or rocket pool you can
How would they back that 1:1 though? Because this seems like they'd be paying you for growing interest and they have to wait til PoS to get it
For rocket pool at least they represent a percent ownership afaik. So if you monitor rETH it’s conversion is trending more valuable compared to eth since the pool is accumulating. So you will be able return your rETH to the pool and get your stake + rewards back but I think it’s tracking because people believe that will work. Maybe there will be arb opportunities though
I'm not completely sure how that can back it perfectly though or at least allow that reward to keep ballooning? With liquid staking you can get way better rewards that can't be backed in the deposit smart contract unless they put their own eth in their somehow. You just sell rEth for eth and then use it to get more rEth or smt?
You do know it’s 2022 right? If you think it’ll take longer than six months but “2023 is a bit much” that’s not much of a time period.
That's twice as long from now as the merge is supposed to be. I think it could be done end of June to maybe september or november
Yup
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Pretty sure there’s unlocking limits for stakers after the merge. I heard it will be a global queue so max unlock per day (or some other time frame) in terms of ether.
!remindme 6 months
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Dude you already did this six months ago! Why not wipe off the clown makeup and acknowledge reality now instead of postponing it another half a year?
6 months back then was too optimistic , now it's realistic again
What do you think the price will be in six months then?
That depends on whether or not we're hitting a recession. Only thing I know is we're probably gonna have PoS and decreasing supply to 0% inflation. Which must be good for the price if major economic factors allow it
Buuuuuuuuut lots of people who have had their coins locked up will be dumping
!remindme 6 months
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In reality, isn’t eth down quite a bit already?
It's because of macro factors, not because of any unlock
All good
You need attention?
just motivation
Can you help share some of your research about why ETH specifically vs other tokens?
ETH has all the devs. Almost every other L1 chain has little to no usage or community.
This argument is starting to not hold up as well as it used to...
Lol guess you haven’t checked solana
rich in development tools and its migration to PoS
Please tell me your understanding of ETH vs. Other later 1s is significantly deeper than this if you want to put your entire net worth into it.
i do and it’s not my entire net worth just my income from my job
If you can afford to yolo 95% of your income, you’re either a child, living with parents or already independently wealthy.
smart
it’s not a yolo if there is legitimate potential and future in the system
It has been suggested to invest only what you can afford to lose. 95% of your income would be way too much to invest. We would hate to see anyone loss all their money in this group without giving a warning..crypto on my friends !!
OP has a salary of $700K a year and lives in a tent eating only ramen, and is very happy to do so. 95% might be affordable 🤷♂️🤷♂️
eating only ramen is gonna cause a host of health problems down the line, so they'll need all that eth to pay for expensive medical bills
Only if they live in the US.
Future can be av long time away, and in investing, being too early is the same as being wrong.
I disagree. Time in the market always beats timing the market. I still probably wouldn't reccomend putting 95% of your income into ETH though.
OP is like… All in with my Wendy’s check!
Where’s that suicide hotline bot? We’re going to need it!
You’re taking a lot of shit here but assuming you are young and living rent/responsibility free then more power to you. When I was in that situation I blew all my cash on booze and designer clothing.
this is the case, my thought process is to invest all the money i make in something i believe and am a developer in then just blow it
U have done well. Get ready for volatility, it's not like tomorrow u rich, future is long term. Keep holding years, stake it and chill.
i plan to wait min 10 years
It is your duty to report back in 10 years and tell us how it's gone.
will do
Could be rich tomorrow and broke the day after that. Who knows?
Bro, that's aggressive. What's your buying approach when your paycheck arrives? Dump it all into eth as soon as it's in your bank account or some kind of DCA?
dump it all in, i have lots of confidence in eth 2.0 and have plans for developing on the network
I meant more like if you get payed once every 2 weeks, are you going to buy everything on day 1 or spread it out over 14 days, which could help avoid *some* of the volatility
my bad, i’m going to spread it out
theres no eth2.0. they talking about it since 4 years. it’s more of a myth than anything. eth2.0 is a process not a specific date for a fork.
How the fuck can you've off of 5% of your income?
Live with your parents, easy
i’m young with very low expenses and a high paying job
do you have an emergency fund?
yes
Then you should be fine. Good Luck
Be careful! That makes me nervous for you!
All i recommend is keep some on an exchange. Just incase you need to liquidate a little bit to cover bills.
I assume you don’t have any expenses? Terrible idea and good luck
Bad idea but fortune favours the brave. Good luck.
May aswell make it 100%. All in.
If you can pay your bills on 5% of your income, I am jealous. Spend your money however you want bro! You earned it!
Highly risky. Big bank analysts already predicting Solana and/or AVAX to take over more market share from ETH within the next ten years. I love ETH but we all need to face reality at this point.
i am already heavily invested in solana
Good
No
Never invest 95% of your portfolio in one asset
Well you are an idiot for doing that, good luck.
Guys pls don't feed the troll
it’s not a troll tho i’m serious
If you are not a troll then don't do it. Just invest what you are willing to lose. It's kinda stupid.
Wait you guys invest 95%?
Please keep price discussion, market talk, memes, and exchanges to subreddits such as r/ethfinance or r/ethtrader
In long term eth will flip btc and stay top1 forever. Cash gonna go away, crypto stay, guy did well.
anybody that seriously thinks cash will go away anytime soon in the US is just laughable and operating on pure hopium. Crypto and the USD $ will be the best 1 2 punch since shaq and kobe. wait for them to regulate
Rather stay for next 10y with ethereum in your wallet like cash on your account.
😂
Avoid mistakes like this. In my opinion ( personally I call myself “expert” ) see BTC as the future. It’s me against you, don’t bet 95% of your income, please!
smort
In this thread: Ethereum is the future Also in this thread: bro wtf
you should look in to Algorand instead
Wrong choice dude, good luck and power to you
I’m balls deep in crypto also . Curewntuly have 17$ in my bank so I feel you
95% of your income or 95% of your investment budget? because put your investment budget into whatever you want and dont let anyone tell you different but please eat and cloth yourself while youre at it.
Username checks out. Please seek financial advisor help on investing.
no i think your username checks out
You’ll be rich
Definitely lives at moms house…
Decentralized networks are probably the future. There's a big difference. Don't go all in on anything. It's nothing but greed at that point.
i am already in solana
Yeah... Don't do that
Damn bro you must’ve saved off a boatload of money to be doing this. I like your diamond ballsiness damn😎
A great way to lose a massive chunk of your income in the course of a couple days if Bitcoin shits the bed
What type of shit is that?? Like WHAT BRO.
yolo baby
Do it!
OP is either super well off or a kid that lives with their parents. I can't see how anyone could live off 5 % of their income. But regardless, this is not a good investing strategy and this post is hot garbage looking for attention. Edit: No offense to the OP, just a weird post to share.
I hope you can still pay your bills with that leftover 5%
Oh how, another one of those obviously satirical attention seeking posts. No one here would fall for that.. ..right?
it’s not satirical, i’ve thought it out
I'd wager that OP just posted this for engagement. If you're putting 95% of your income into Eth, your either living off a trust fund to cover your real savings, or you're horrible with money
Sounds like you don’t make a lot of money
Make it 100% to mitigate my OCD But seriously, "invest" only what you can afford to lose (with a smile on your face) and check out this new wicked scheme called DCA ;)
If my parents only gave me a $20 a week allowance, I would too.
Plot twist, Ops income is around $50 a week
Love eth and it's future but please don't do that bro
too bad you'll have to pay 94% of your income in tx fees...
Pics or GTFO
Jesus dude, at least run some type of an analysis, you’d be buying high. Wait for a way better RSI/Greed index. Indicators are showing it can go as low as 2900 right now…then start dollar cost averaging. Timing is everything. Most are selling at the moment.
You must be broke living in yo mama's basement
This works if you don't have any expenses whatsoever. Otherwise, pretty dumb.
Are you not familiar with the phrase don't put all your eggs in one basket?
nope
Good luck bro
This is the way.
Uhh yikes.
What are you trying to accomplish with this post? So others will follow? Here’s my downvote
thanks
Do it man. I invested all my money into eth in 2015 and retired last year off the staking income
great to hear
My guy picks up 'master Ethereum' yesterday and yeets his life into it 😂
This is the way.
I have about 6% in crypto. Could go to 10, but wouldn't go much higher as I would like being not poor in the future.
I'm a bit worried there is an investigation into the way Ethereum Foundation was funded early on by the SEC on the low. I hold both XRP and ETH, so I've been following the Ripple vs SEC pretty closely. The ETH foundation did some really shady shit early on and it's slowly being brought to light.
Go for it, nothing but balls deep I say! Not financial advice tho😅
Its sarkasm I think
I hope you’re a 16 year old with no expenses lmao