Vitalik Buterin's Financial Advice

[Bitstar_coin]

Basically what everyone who aspires to be financially free does even without coming from a genius like him. I strongly believe in diversification, the idea of not putting all our eggs in one basket is very important, especially with high volatility assets. I doubt there is anyone out there who doesn't save for a rainy day, it is the only way to address any unexpected future occurrences. 

Be boring with your portfolio, in this day and time where things change so fast, you would want to be active with your portfolio to avoid being left behind.

[1714717997]

1714717997

[aTriz]

~snip~
What are Your thoughts about his financial advice guys? I like the first and 2nd which I've been doing by myself too.

It is completely stupid that you post such basic advice on a forum, and it is even more stupid that the same advice comes from someone who is supposed to be intelligent, but actually turns out to be a classic attention-seeking troll.

Save. Get to the point where you have enough to cover multiple years of expenses. Financial safety is freedom.

Who does this advice apply to? Maybe people who work 8 hours a day, 6 days a week and at the end of the month get a salary that is not enough to cover the expenses of 20 days of life? Vitalik, like all those shitcoin creators, has definitely accumulated a lot of money and can enjoy his financial freedom - which is very easy if you have an altcoin that is premined and has unlimited max supply.

Everyone has their own opinions but I don't consider Ethereum a shit coin. and it is not because Ethereum is a valuable coin next to Bitcoin but because it has some excellent utilities that are very useful for people within the cryptocurrency sector,
about his financial advice, I am not sure if he was serious or being sarcastic about Bill Gates and Warren buffet.

[Lucius]

Vitalik, like all those shitcoin creators, has definitely accumulated a lot of money and can enjoy his financial freedom - which is very easy if you have an altcoin that is premined and has unlimited max supply.

Basically the only advice Vitalik should give others is to "create a centralized premined shitcoin by copying the code and ideas from Bitcoin and then get lucky as people buy into your scam". The rest like talking about "diversification" and stuff is just buzzwords he uses to look intelligence.

Maybe he actually wants to say that, but he doesn't use those words literally, because then he might admit that his project is "successful" only for the reason that the current circulating supply of that shitcoin is x10 higher, and that's why it holds the second place on the list of cryptocurrencies, so it seems that this coin has some value, even though this position is only a matter of manipulation through the marketcap.

With all that, does anyone agree that he made something better than Bitcoin, which he personally compared to a pocket calculator?

Bitcoin had “too limited functionality,” he told Business Insider.
To explain his thinking, Buterin compared bitcoin to a pocket calculator and a new potential blockchain to a smartphone.
“A pocket calculator does one thing and it does one thing well, but really, people want to do all these other things. And if you have a smartphone, then you have a pocket calculator as an app,” he said. “So basically, taking that same kind of idea of increasing the power of the system by making it more general purpose and applying it to blockchains.”

Everyone has their own opinions but I don't consider Ethereum a shit coin. and it is not because Ethereum is a valuable coin next to Bitcoin but because it has some excellent utilities that are very useful for people within the cryptocurrency sector,
about his financial advice, I am not sure if he was serious or being sarcastic about Bill Gates and Warren buffet.

Are you referring to the possibility that everyone can create their own token on his smartphone network and sell it to others as a new ultimate solution? All this became even more convincing after they replaced POW with POS, so now they boast that they do not pollute the environment like Bitcoin, which consumes even 0.2% of the total amount of electricity.

It's easy to pretend to be a genius with billions in his pocket, but Vitalik will never be even close to Satoshi, regardless of the fact that he announced that he would retire and leave everything to others.

[franky1]

Are you referring to the possibility that everyone can create their own token on his smartphone network and sell it to others as a new ultimate solution? All this became even more convincing after they replaced POW with POS, so now they boast that they do not pollute the environment like Bitcoin, which consumes even 0.2% of the total amount of electricity.

funny part of ethereum is
by moving to PoS their minting cost went from ~$900/coin to well under $75 a coin. meaning their current price is SPECULATING at a premium
PoW price was $1300 =1.45x value-premium
PoW price is $2500=33x value-premium

other funny thing is ethereums market was independent(pre 2021) with different utility and sentiment causing ethereums price market to differ and be non recognisable compared to bitcoin market wiggles

but notice when things changed and ethereum just became a play child of bitcoin traders, where ethereum just shadow traces and copies bitcoin market wiggles 95%+ of the time
[btc-eth chart]
independent wiggles                 pegged to btc wiggles


yep when ethereum-bitcoin market became stable(may 2021) was like ethereum trying to peg to bitcoin prices at a shortened range
if ethereum was independent with its own community of traders, trading on purely the sentiments of ethereum utility/desire.. the peg to bitcoin would not be so narrow.
things changed after May 2021 and ethereum lost the independent war of utility

[kryptqnick]

Vitalik Buterin Took to Twitter to share Some of His Financial Advice.
quoting a Tweet About Bill Gates and Warren Buffett He Wrote:

Some actual financial advice:

* Diversification is good.
* Save. Get to the point where you have enough to cover multiple years of expenses. Financial safety is freedom.
* Be boring with most of your portfolio.
* Don't use >2x leverage. Just don't.

Tweet Link: https://twitter.com/VitalikButerin/status/1743991285214527532

What are Your thoughts about his financial advice guys? I like the first and 2nd which I've been doing by myself too.

In general, sounds like good advice to me. Diversification, overall, makes sense, especially if we're talking about having very different assets, being involved in very different markets, just in case one (or some) of them crash. Saving money is very reasonable advice, although I don't think it should be done 'no matter what'. If you struggle with saving money for objective reasons (like barely making ends meet), you shouldn't prioritise savings above mental and physical health. As for being boring about most portfolio, I guess he means that investments should be relatively safe, which is also reasonable. And the last one makes sense to me as well, primarily because I think people should borrow money to make investments at all.

[Casdinyard]

Vitalik Buterin Took to Twitter to share Some of His Financial Advice.
quoting a Tweet About Bill Gates and Warren Buffett He Wrote:

Some actual financial advice:

* Diversification is good.
* Save. Get to the point where you have enough to cover multiple years of expenses. Financial safety is freedom.
* Be boring with most of your portfolio.
* Don't use >2x leverage. Just don't.

Tweet Link: https://twitter.com/VitalikButerin/status/1743991285214527532

What are Your thoughts about his financial advice guys? I like the first and 2nd which I've been doing by myself too.

This is as smart as any financial guy could be when providing suggestions and tips to a larger audience of possibly diverse risk capabilities. The fact that he made sure to provide profitable but still "risk-free" financial tips especially when most of us here would go degen on the next crypto bull craze may not sound so great, but for someone who's just learning the ropes in the crypto industry, this is a golden nugget that they could use to start off their journey.

Had I known about this in the past, I probably wouldn't have to lose all my earnings in the first profitable bull run I've been in. All I really had in mind back then was money and making sure that I make the most out of it, so I banked on all the risks without knowing if they are even worthy at the end. Of course I lost all of my earnings and even had me thinking if crypto is really for me. Eventually I came around and found that I would be more smart and calculated about the risks that I pose myself to so I don't end up with zero bucks on my bank account.

Thus far, employing Vitalik's tips without even knowing about them in the first place allowed me to not only take profits but also secure them and ensure that I don't lose my money willy-nilly. I'm far from a noobie but yeah, trust me when I say it works really well.

[shinratensei_]

agreed with preventing from having too much leverage some people are so hellbent in trying to increase that profit figure into another level but they also seem to forget that the usually profit might turn into massive loss with high leverage even more so with the leverage reaching 25x its basically just trying to give their money to whales that way.
just keep trading with spot its already profitable enough, worst case scenario if it went down it can be hold for long time to wait until the price recovers back.
overall solid advice from him, I personally have implemented all those things and have been seeing good results idk with other people but overall the most significant advice is to never trade with too much of a leverage.

[crwth]

Be boring? Meaning that it would make you not see it too much or just let it do its thing with the market? I believe that is how to make it boring. Probably the surest thing that you could do with your balance is to just HODL it or something.

Diversify makes it possible to mitigate risks so you could really take advantage of the market.

I didn’t know Vitalik likes to give out advice. 

[franky1]

I didn’t know Vitalik likes to give out advice. 

he has hopes of SEC approving eth etf in summer, so as main guy of ethereum he cant go full elon, he has to present rational, safe investment advice if he wants to prove eth is governed by him safely to appease SEC decision makers that he isnt a whale baiting market manipulator or going to excite the network with unpredictable code changes

[Kakmakr]

Vitalik Buterin should have rather said, "Look for some unique concept or idea that you can copy and then tweak it to look like your idea and then market it"

Also, start calling it one thing (Example : ETH is a smart contract centered platform) and then when the biggest competition are struggling with congestion.... do a 180 and start marketing your technology as "Currency of choice"

Vitalik Buterin is an opportunist and he can spin on a Penny, if the money is good.

[Hewlet]

Vitalik Buterin Took to Twitter to share Some of His Financial Advice.
quoting a Tweet About Bill Gates and Warren Buffett He Wrote:

Some actual financial advice:

* Diversification is good.
* Save. Get to the point where you have enough to cover multiple years of expenses. Financial safety is freedom.
* Be boring with most of your portfolio.
* Don't use >2x leverage. Just don't.

Tweet Link: https://twitter.com/VitalikButerin/status/1743991285214527532

What are Your thoughts about his financial advice guys? I like the first and 2nd which I've been doing by myself too.

what happens to earning? One has to earn first before the rest of this ones can come into play.  I believe that it's necessary first of all to create a consistent streams of income by making the right investment at the early years of your life.

These are all good but for me, the best way to remain financially stable is to invest in a system that regularly brings money to you without you necessarily getting involved in the system. Like you can just buy a vehicle for others to be using for Uber in your area while some commission is given to you on a regular, that way, you are certain that every week, you will be expecting something even If you are not working. This is not just associated with Uber but also any other thing that can allow you to become a passive partner to the business while you continue earning your passive income

[retreat]

I don't know why someone who is good at coding like Vitalik is suddenly giving financial advice to people where he has 284,000 ETH in his wallet that he can transact at any time and the key to Ethereum's backdoor. Even the financial advice he gives can be found on many investment websites LOL. I respect him as the founder of the best altcoin, namely Ethereum, but it's just ridiculous when someone like him gives financial advice to other people, he should focus on developing Ethereum instead of giving people financial advice.

[Poker Player]

* Diversification is good.

Yes but I diversify into different types of assets, not shitcoins.

* Save. Get to the point where you have enough to cover multiple years of expenses. Financial safety is freedom.

Okay, but with the qualification that having more than 6 months of expenses in liquidity is usually a loss in real terms due to the opportunity cost. Better to have a maximum of 6 months of expenses and the rest invested.

* Be boring with most of your portfolio.

Agreed.

* Don't use >2x leverage. Just don't.

For most people it is better not to use leverage at all.

[bayu7adi]

Who does this advice apply to? Maybe people who work 8 hours a day, 6 days a week and at the end of the month get a salary that is not enough to cover the expenses of 20 days of life? Vitalik, like all those shitcoin creators, has definitely accumulated a lot of money and can enjoy his financial freedom - which is very easy if you have an altcoin that is premined and has unlimited max supply.

I understand your point, and the caste differences have indeed occurred. Coincidentally, Vitalik said something about it. The simple formula is that the voices of the wealthy will be louder than those of the poor. So, it's certain that the quote is more suitable for the wealthy, because only those who can earn money will be able to sustain their lives for the next 10 years. Idealistic people might think that the poor can also become wealthy someday, but they don't understand how challenging it is for the poor to reach that point.

If someone denies it and says that Vitalik started from zero, I don't think that's entirely true. Everyone is blessed with their privileges, and it has a significant impact on someone's future.

He had scientific intelligence from a young age, and his talent was evident as early as the 3rd grade in elementary school. The blood of a programmer runs in his veins, inherited from his father, Dmitry Buterin, who is also an IT expert. It's certain that he started his life with a good foundation, and it has a significant influence on his financial condition now, thanks to ETH.

[Alpha Marine]

As long as diversification doesn't translate into buying altcoins and thinking there is a portfolio, they are good advices. Otherwise buying assets that depend on Bitcoin's price and  get dumped each time bitcoin makes a move are terrible options for diversification and even for investment.

This is similar to what I wanted to say after reading the OP.
There's no point in buying different altcoins when most of the altcoins won't be worth shit in the future. That's just a way to lose money.
Trading altcoins as a trader is okay, but holding to make a profit from it is a very big mistake.
No point in buying every popular altcoin all in the name of diversification.

[Natsuu]

It is like the financial version of "keep it simple." Diversify to play it safe, save up for a financial cushion, and be a bit boring with your investments for stability. The no-more-than-2x-leverage rule is a clear "stay safe" signal. It's a down-to-earth approach that makes sense for anyone wanting a solid financial game plan.

[tabas]

I agree that financial safety is freedom or, let's say, it is about being financially free and safe, and at the same time, you've got more freedom than the other people who have been dealing with their hardships in life. What's with these people giving tips whether it is Vitalik or any other financial advisor or someone who's well off in life. The words that they say become words of wisdom because they're at their peak and we don't know how they've been through with it but it's good to take some tips from them. But, it's still nice to hear such tips and concerns from other people and give suggestions on what should one do to achieve some financial goals financially. Note that it is not going to be an easy thing and it's still you that shall work on it and don't just be a good listener but be a good follower.

[Kelward]

Vitalik Buterin Took to Twitter to share Some of His Financial Advice.
quoting a Tweet About Bill Gates and Warren Buffett He Wrote:

Some actual financial advice:

* Diversification is good.
* Save. Get to the point where you have enough to cover multiple years of expenses. Financial safety is freedom.
* Be boring with most of your portfolio.
* Don't use >2x leverage. Just don't.

Tweet Link: https://twitter.com/VitalikButerin/status/1743991285214527532

What are Your thoughts about his financial advice guys? I like the first and 2nd which I've been doing by myself too.

The financial advice looks good and juicy and if followed diligently will guarantee financial freedom, and in old age the person will not lack or be dependant on family and friends for financial needs, but the problem is that your income needs to atleast meet your basic financial needs first before thinking of diversification and saving enough to cover your multiple years of financial expenses. My point is that many people can be aware of many tips to financial freedom, but these knowledge alone is not enough to secure the desired financial freedom.

The standard of living is getting very high in most countries and even with two jobs people can hardly meet the responsibilities of their basic needs, so these feel good theories are for people who are able to escape the shackles of the hardships that sorounds them, which is not easy. Almost every ideas are saturated and it's quite hard to get extra income for the average income earners to diversify..

[el kaka22]

I feel like the fact that he talks about the boring part, is the most important part. All those people who invest into some unknown and small number of things that needs to change, they are doing it for like some insane x100 return or something, they want to get rich with just a few investments but the reality is that you are not going to get rich like that, it will not work that way no matter how much you try.

So, the best thing you could do at this point would be just making sure that you do your best. I personally do as boring as it gets, in fact, I had long periods of my life where I invested only into bitcoin and nothing else, Vitalik may not enjoy that lol, but it is as boring as it gets, and yet it is very healthy move.

[Cookdata]

Vitalik Buterin Took to Twitter to share Some of His Financial Advice.
quoting a Tweet About Bill Gates and Warren Buffett He Wrote:

Some actual financial advice:

* Diversification is good.
* Save. Get to the point where you have enough to cover multiple years of expenses. Financial safety is freedom.
* Be boring with most of your portfolio.
* Don't use >2x leverage. Just don't.

Tweet Link: https://twitter.com/VitalikButerin/status/1743991285214527532

What are Your thoughts about his financial advice guys? I like the first and 2nd which I've been doing by myself too.

I agree with all his recommendations. Around 2021 he said he bought millions of Dogecoin in 2016 and sold everything when the meme coin becomes the next hot cake in crypto community and he was happy that he sold everything at the peak of the price. I was jealous about that because cool money was made so easy and simple even when himself wasn't sure about the coin back then. It's good to throw some money into these coins and overlook them for future.

If you are not financially buoyant enough, investments will be hard because if you don't have back up as savings, you will likely sell more than half, if not all before your investment grow to maturity. Financial discrepancy is one of the reason why many of us don't have any coins today but if you save enough, you can invest for good.

Leverage is gambling, some people are good at it though but on a personal level I don't like it and I would recommend it for anyone. Spot trading by far is better than leverage and what baffle me with this leverages trading is people with small capital that like them, they want their $50 to be $1M over night.