Vitalik Buterin's Financial Advice

[stomachgrowls]

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.

#Diversification - Is a must, not not all does have the money for us to do so, so it would be situational. 
#Save? - This is where people do totally forgot, they would really be just doing things on the time that they would really be experiencing hardship.
#Boring or not minding about your port? This would be the most impossible thing that a certain investor would really be doing. Even myself cant really just make that not even on peeking into my port even
on a single minute. lol

#x2 leverage? This would really be that depending on certain person because not all would really be that satisfied when it comes to spot trading
but rather they would really be loving on touching up themselves on higher leverage.

This is something that would really be situational because it would always falls down on someones interest if we do speak about these things.
So its up to someone on what are the guidelines that they would be following or really just that simply stick into their own common sense.

[darkangel11]

* Diversification is good.

Especially if you diversify into shitcoins. Have ETH? Diversify into HEX. Richard will thank you for it. He'll buy himself some jewelry.
What about people who were diversifying from Bitcoin to pictures of penguins, punks and monkeys?

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

Can't say anything bad about this one. I'd only ask Vitalik about his ETH dumps in the last few years. If saving is so important why is he turning his valuable coin into fiat money? Is that him diversifying?

* Be boring with most of your portfolio.

I don't think you can be boring with a crypto portfolio. It's impossible with these assets, even if you hold only bitcoin.

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

What about 100x leverage? Arthur Hayes recommends

I'd add another one: don't trust Vitalik.

[Raflesia]

There is nothing wrong in this because it is indeed a pretty good advice for us to manage the finances that we have and actually it is a pretty controlled way to have a good financial stabilization in the end but it is indeed sometimes it cannot be used all the time because in the end when talking about life there are situations where we have to be a little bit more aggressive and there are situations where we have to make ourselves comfortable by playing safe like that.

Actually doing this is also quite good but we also cannot be monotonous of course when there is momentum and a good situation to start a little more aggressive than usual as long as we are able to handle it then why not because I'm pretty sure we often experience situations like this and I think improvisation like that also needs to be done because we also need a challenge to pass the risk so as not to stay in our own comfort zone.

[Fortify]

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 first point is critical and maybe advice that some diehard crypto fans should take onboard, because having all your money invested into a single asset is always a terrible idea. If you've got rich off owning it, consider that sheer good luck and fortune, but if you want to stay rich they follow the old adage of buy low and sell high. Cash out some of your money that you've quadrupled in a short period of time and invest it in something else. You never know what is around the corner, but having your money spread around in property, stocks, even precious metals or other collectibles is very wise. It's all about reducing your exposure to risk, as we've already seen things like crypto go into reverse many times.

[blockman]

Vitalik Buterin Took to Twitter to share Some of His Financial Advice.

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

Saving for emergency is the main purpose of this. It is what I hear mostly from the financial tips of the content creators that are dealing with financial management and contents. I think it's always good to get reminded to save and then invest. Saving for your future and emergencies actually, from the contents that I've watched, they're telling you to save for 3-6 months of your total salary as your emergency fund and it's so much better to get motivated and save for multiple years of expenses. That preferable because the times of inflation isn't going to stop, the cost of goods and everything are increasing so, that's the motivation that someone can think of but do not forget to invest as well.

[shinratensei_]

Actually doing this is also quite good but we also cannot be monotonous of course when there is momentum and a good situation to start a little more aggressive than usual as long as we are able to handle it then why not.

agreed with such statement tbh sometime aggresive play is needed if we truly strive for that big profit then of course we will need to increase the risk as well, but its not wrong following such advice either though its definitely suited for those with big enough capital to go on long term without worrying about anything but what matter is the APY or profit from the investment in the long run.
if im so sure about the coin that im gonna trade, like basically im so sure it will increase in the future then i would be using 3 time leverage or even more because its a way to maximize my profit with of course increased risk but sometime its just worth it, this one high leverage might be life changing.
but then again we need to see whether we can also afford to lose the money because otherwise it'd be a really bad idea if im being frank with my experience in the past.

[0t3p0t]

I like the first and 2nd which I've been doing by myself too.

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.

Totally agree because this happened to me a lot of times before. 😁 I converted half of my Bitcoin investment into some Altcoins way back in the last quarter of 2017 and yeah I get profit with Bitcoins surge that time but that turns the other way on the first quarter of 2018 where prices goes down and so my Altcoin bleeds to death. This is the reason why I changed my strategy of diversification I am now into Bitcoin for my decentralized asset  and for my centralized asset I'll go for real estate also I have plans on acquiring gold coins as soon as I have extra money.

Anyways the first two on the OP's list is what makes me a fan of.

[doomloop]

There is no magical with his financial advise. They are mostly common and we hear it typically from the usual financial advisors.

But he is right, in all of them I like what he said about have a boring portfolio. What boring is like? when you hear most people say and advise to buy the same thing, Bitcoin.

Some may take his advise to diversify, many might take it personally to the point that they will diversify with pump and dump coins which is wrong.

Bitcoin, boring? . No it's not, because it's highly volatile. So it's actually thrilling to have a BTC. And once you know to handle it, BTC can be a highly profitable crypto. Vitalik is a famous crypto personality. So indeed that some will take his advice personally or seriously. Add in the fact that his advices are also common (as you said).

However to diversify does not mean that we are now going for the crap coins since there are also plenty of great coins out there. But, I still won't say that investing in a pump and dump coin is wrong because they are also profitable as long as you know how to time your moves. In short in needs a very good skill first.

[yahoo62278]

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.

He forgot to put no love life. If you got a girlfriend/wife or whatnot, you likely aren't thinking about saving. Looking to impress most likely and get all the action she will give.

Solid advice or course, but how easy is it depending on your circumstances?

[m2017]

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.

He forgot to put no love life. If you got a girlfriend/wife or whatnot, you likely aren't thinking about saving. Looking to impress most likely and get all the action she will give.

Solid advice or course, but how easy is it depending on your circumstances?

Well, then Vitalik Buterin forgot to add a couple of points:
* Never, under any circumstances, get rid tell your girlfriend / wife about your crypto savings, otherwise all the points listed above will not make any sense.

Financial literacy doesn't lie in your compliance with this, but also in the ability to explain these principles to your immediate circle (girlfriend or wife) in accessible language. If your girlfriend  / wife is extracting money from you while you are trying to save it for future growth, then... get rid of this wife.

[JariKriting]

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.

Diversification of cryptocurrency investments refers to constructing a portfolio consisting of multiple different types of cryptocurrencies this mean multiple coin not only one coin rather than solely investing in one specific coin such as Bitcoin or Ethereum. Consequently, this approach reduces the overall risk associated with investing in a single asset class.
is good investment in spot market not future.
If you only use 2x leverage in futures, it's better to trade on spot, not on futures

[carbone9090]

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.

Good advice but i don't agree with Don't use >2x leverage. Some people have enough experience to work even with 100x leverage. All depends on your knowledge and on the amount of available funds you have."

[iv4n]

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

Good advice but i don't agree with Don't use >2x leverage. Some people have enough experience to work even with 100x leverage. All depends on your knowledge and on the amount of available funds you have."

Some people have gambled and won... I don't know how true that is, but I have seen some crazy winnings shared on social media, some people made a lot more profit with leverage trading. I'm sure that leverage trading requires a lot of experience, but when it comes to leverage I believe it also requires a lot of luck, that's why I say it's gambling.


Well, this Vitalik gave a piece of advice to people who are already rich... So people who already have a lot of money these are good ways to protect that wealth. But for people who are on the way to achieving "financial safety" risking here and there is not something we can run away from.

[umbara ardian]

While a defensive approach might seem less exciting than chasing high-risk returns, it's like building a sturdy foundation for your financial house. It offers peace of mind, stability, and the freedom to pursue other goals without constant financial anxiety.

Traditional bank savings with their guaranteed returns and emergency fund access are a secure haven. But venturing into investments like real estate or land can potentially generate higher returns, albeit with greater risk and uncertainty.

The key is to find the sweet spot that balances your risk tolerance, financial goals, and life stage. A healthy emergency fund (covering half to a year of expenses) is a wise starting point, followed by a diversified portfolio that blends safe options with calculated risks aligned with your long-term goals.

Real estate, for instance, can be a compelling option for long-term wealth building. Land, as you mentioned, has its own set of pros and cons. It can offer steady appreciation, but its liquidity might be limited, and development potential can be unpredictable.

[YUriy1991]

I think this message is relevant from what Vitalik Buterin conveyed from his quote from Bill Gates and Warren Buffett's tweets and it is good to follow, but as usual everything ultimately comes back to each individual in navigating the market. Human nature changes, sometimes today it's like that, in a few seconds the plan can change to another in managing finances.

[CryptopreneurBrainboss]

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.

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

Here are some of my thoughts on his advice, the advice aren't anything new as these are normal advice that we hear everyday. Diversification are good but not in assets that are closely related, when newbies hear the CEO of Ethereum saying diversification are good they'll think he's endorsing investing in altcoins (and on the other hand, what do we expect from the founder of a altcoin preaching diversifications without clarifying when we're suppose to diversify). They're only trying to get people to invest in their projects with their advice, this isn't different from what CZ was doing when he was the CEO of Binance.

Diversify but don't do that with close assets like cryptocurrency. Instead of saving, Invest. Saving and investing aren't the same thing, when you save you don't give your money room to grow, saving puts your money at rest but when you invest, you put your money to work to make more money for you so we should pick interest in investing and not saving. Investing is also a form of saving but saving isn't investing. Lets know the difference so we can make better financial decisions to uplift our finances.

Being boring with your portfolio is actually the point I agree with more, Bitcoin is boring, it isn't as active like altcoin with all the difference things they introduced to their ecosystem like staking, farming and so on so investing in a boring assets like Bitcoin when compared to other altcoin is actually good. I noticed boring business are giving the most profits lately.

[kawetsriyanto]

Saving for emergency is the main purpose of this. It is what I hear mostly from the financial tips of the content creators that are dealing with financial management and contents. I think it's always good to get reminded to save and then invest. Saving for your future and emergencies actually, from the contents that I've watched, they're telling you to save for 3-6 months of your total salary as your emergency fund and it's so much better to get motivated and save for multiple years of expenses.

TBH, I don't know if saving is the main purpose of Vitalik's advice. 
However, I can agree that saving for emergency is needed. It is an advice that we already know from many years ago. Even our parents always remind us to save money for emergencies or urgent needs. I think we can do it constantly, not only for 3 - 6 months. We don't know how much money we need for the future emergencies. That's why we don't stop to allocate some money for saving. I'm also doing this, it is a common thing that most people do in my country.

That preferable because the times of inflation isn't going to stop, the cost of goods and everything are increasing so, that's the motivation that someone can think of but do not forget to invest as well.

Well, it is true that everyone needs to have an investment. Although the investment doesn't guarantee our future, but it must be very helpful. With investment, we have the chance to gain money constantly and we have reserved money for the future as well. Saving in fiats only reduces its nominal amount over time, but if investing in Bitcoin or other potential things is potentially raising the value day after day. 

[goldkingcoiner]

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.

His "actual financial advice" is nothing new. Just vague and extremely basic. If anything, this is just Vitalik going full influencer mode. I am pretty sure he just copy pasted whatever first page google search results showed him. I am not saying that his advice is wrong. It is actually quite important and the first things any new investor should know. But there are other parts to smart advice. Doing your own research (DYOR) is extremely important. Otherwise you are investing blindly. Which is the most destructive and dangerous thing to do in the cryptocurrency world.

[serveria.com]

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.

My thoughts is that this advice is pretty trivial, Vitalik is saying obvious things. You can get such "valuable" advise here on this forum by simply visiting every second thread. 

[bangjoe]

At this point, financial advice today is very easy to get and the message conveyed by Vitalik Buterin is not much different from what is often conveyed by many people who are active in the world of finance.
I think that's nothing strange to our ears.

This way of managing finances will work when we have money, therefore increase income so that we can control money optimally and not have a lot of worries and we can manage finances well without shortages, people who have little money will find it very difficult to diversify, or not. he has to accumulate enough time until he feels he has enough to cover his needs, but unfortunately age will be the main bet if seen from this point of view.