Started in October 2017. I buy as much as possible from my salary every month. Mostly its 500€ per month. I'm calling this strategy the 'bitcoin retirement plan' which basically means I'm gonna keep on stacking for the foreseeable and at some point my stack should be big enough to comfortable quit the fiat hamster wheel. Five years in, how many more to go? I'm guessing the next bull cycle will make it for me and this journey can serve as a blueprint for others doing the same. Keep on stacking for x number of bear markets + x number of bull markets = this is what you can achieve. I document my progress in a blog with monthly posts. Enjoy reading!:
The SEC and FED is so busy on Crypto FUD lately that they totally lost focus on other Markets where the real heist and corruption is happening: "Six Big Banks rack up another Billion Dollars in Fines in just over a year"
There is so much focus and FUD regarding Crypto lately, that the SEC and FED and everybody else forgot about the real heist that is going on in other Markets.
Here is a fun fact:
Over the past 15 months, the widespread and egregious illegal conduct by the six largest U.S. banks has continued. Their RAP Sheets now include 35 more new cases, which have resulted in $1,003,087,005 in additional fines arising from the banks’ ripping off, discriminating against, or financially endangering their customers, including the following:
In February 2021, Citibank agreed to refund $4.2 million to customers as part of a settlement of allegations brought by multiple state attorneys general that it overcharged credit card customers by failing to reduce APRs as required by federal law.
In March 2021, J.P. Morgan entered a conciliation agreement with a borrower who alleged that J.P. Morgan undervalued her home because of racial discrimination. This followed an enforcement action in January 2017, in which J.P. Morgan paid $55 million to settle allegations it engaged in racially discriminatory practices with regard to mortgages.
In May 2021, Bank of America settled a class action lawsuit for $75 million, based on allegations that it had ripped off customers by charging overdraft fees that it had no right to collect.
In January 2022, Morgan Stanley settled a class-action lawsuit for $60 million, based on allegations of widespread failures to protect customers’ personal data.
In May 2022, the CFPB ordered Bank of America to pay a $10 million civil penalty for illegally processing out-of-state garnishment orders against customers’ bank accounts.
If you want to find out more, here is a report I would highly recommend to explore this a bit more as there are some really interesting facts.
I agree that there needs to be some sort of "regulation" for cryptocurrency especially to tackle the scams that are happening on a daily basis, but the one thing I don't understand is the fact that the big financial institutions are rarely getting any heat publicly for their constant misconduct and fraud.
PSA: If you get a DM offering to buy your Reddit paid avatar for a seemingly high amount, do not accept it.
The current strategy among the more dishonest avatar collectors is to find rare avatars owned by Redditors that haven’t linked theirs to OpenSea yet. They will come across as very friendly and generous, but are all offering much, much, much lower than market value.
If you get one of these offers, immediately assume that your avatar is worth at least 4-5 times what the person is offering. Go to OpenSea and sell it yourself - it is worth the effort for potentially thousands of dollars.
These people aren’t doing anything illegal, but it is extremely dishonest and just happened to my brother with an avatar that typically sells for 1-2 eth. He was offered .3 eth and took it because he didnt know what it was actually selling for on opensea. He missed out on $2000 dollars.
Don’t let these hustlers take your money, go to OpenSea and sell it yourself.