I'm bad with money. I have always been bad with money. It's not bad "two maximum credit cards and a $ 40,000 car loan, but it's so bad that at age 25 I do not have enough savings to buy another MacBook if mine goes to the computer sky."
2018, however, I am much more responsible with my finances, and it is not due to a flimsy New Year's resolution, it is because of bitcoin.
The cryptocurrency is not, as I thought first, sensible money that will one day enslave Instead, it is essentially virtual money that is executed in the blockchain technology of tracking transactions, which has the ambition to decentralize the world's money.Not a big deal.The most famous is bitcoin, althoughmore easily described as "cryptocurrencies that are not called bitcoin".
Bitcoin for me was simply the weird thing with which people bought Internet drugs – until around December. a recurring pattern followed: the news would break the price of bitcoin reaching new and improbable heights, and I would say to myself: "Damn, I should have got into that, but it's too late". The price would increase drastically the next day, and the circle of life went on.
This cycle reached its peak in mid-December, when the price of a bitcoin, driven almost entirely by speculation, became more than $ 19,000. This happened about six years after you could buy a bitcoin for a dollar, and that made many minds, including mine, have possibilities. (Even if the truth is that, if you had bought 10 bitcoins for $ 10 in 2011, you would not have had the restriction to keep them until they reached $ 19,000 each, or even $ 1,000.)
In the last business week of 2017, after non-stop stories about the increase in the price of bitcoin, I started thinking seriously about putting money into cryptography. I, like 60 percent of young people aged 18 to 35 surveyed by the Australian bank Westpac, I am not saving for a house, so why not invest in magical dollars from the internet?
The first thing I learned: someone like me, with no real assets other than a selfie stick, or any tangible ability to speak, apart from a God-given talent to use that selfie stick, you really should not invest in crypto . Or even look at it.
Most of the financial experts I consulted, and by experts, of course, I mean "articles that resulted from a Google search of" how bitcoin "- said he really does not want to have more than 10 percent of his Cryptocurrency portfolio, which seems to contradict the company's "burn it and not look back towards the explosion" feeling.
Your portfolio, according to the DIY course, especially YouTube, that I made, should be AGREEMENT, slight problem with that, my portfolio did not have any of those things, my portfolio did not exist.
Like I said, I would not call myself dangerously bad with money, but I've saved too little of the money that appears in my account every month, apparently what it does to me like 80 percent of Americans. "That made an emergency fund difficult.
Then there is the question of reliable assets. The cryptocurrency is arcane, but the stock market was equally mysterious to me. He did not know what was reliable and what was volatile, all he knew was that the shares could earn him a lot of money if he already had a lot of money, and if he plays his cards well, Leonardo DiCaprio will play him in a movie.
Bitcoin seems funny, but I was beginning to think that it would be better to be more responsible instead of trying to take a shortcut to financial freedom.
Because, with the exception of those who from today -one of the guys who really hope to change the world with blockchain, crypto looks like that: a financial shortcut. Many traditional types of finance make fun of it, calling it a speculative bubble (in what other way does something called DogeCoin cost $ 2 billion?). JPMorgan Chase CEO Jamie Dimon, for example, said he would fire any operator of his company that invested in him.
But it has made some people obscenely rich, such as the altcoin co-founder Ripple, who for a time became more valuable than Mark Zuckerberg. That's enough for drug addicts like me to try to enter Google for a few dollars. Fortunately, they redirected me.
My Christmas holidays were essentially like a montage of "The Wolf of Wall Street," except that instead of parties quaalude with Jonah Hill was a YouTube party with Warren Buffet and others who dominated the ever-esoteric market.
At the end of that montage, he was a new man. Weekly budgets drawn up in Google Spreadsheets, $ 500 in a change trust fund with plans to add more each month, start an emergency fund, consolidate my retirement funds from different jobs, and so on.
Nothing crazy, just baby steps, and I can only hope that they really make a difference in the long term. But it is a relief to have ordered the chaos of a monthly salary check, and ironic that this has been caused by the whimsical world of the cryptocurrency.
If I follow conventional wisdom, once this new portfolio of mine reaches $ 5,000, I can put some of that into cryptography. But, of course, I as a person have not matured, so I'm not following that conventional wisdom. I congratulated my new financial responsibility by launching $ 500 in crypto.
I'm not worried about the recent decline in the market. If everything goes according to plan, I'll write my next column from a yacht. Made of gold
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