Saturday, September 24, 2022
HomePassive IncomeMisplaced $300,000 staking cryptocurrencies for increased returns.

Misplaced $300,000 staking cryptocurrencies for increased returns.


Somebody left me a remark and requested that it not be printed.

Apparently, he misplaced fairly a bit of cash in cryptocurrencies.

He stated that he used to observe my weblog however discovered new methods of “investing” his cash which he thought might generate wealth extra shortly.

Issues didn’t prove nicely for him, sadly.

He stated he ought to have heeded my recommendation on not moving into cryptocurrency which I stated was like shopping for nothing with one thing.

(Eh, did I say that?)

He was stunned to learn that I personal some Bitcoin now however understood why I modified my thoughts.




For individuals who do not know or do not bear in mind, learn:

1. Gold, silver and Bitcoin as insurance coverage.

2. Purchase Bitcoin at long run help.

He shared that he misplaced large time on Luna and even on his Bitcoin and Ethereum which he staked for a lot increased returns than the curiosity revenue he might get from our native banks.

Apparently, a few of the crypto lending platforms the place he staked his cash turned bancrupt not too long ago.

The remark made for very unhappy studying however I suppose the reader simply wanted an outlet.




One thing I used to weblog about fairly continuously was the topic of fraud.

When one thing sounds too good to be true, it in all probability is.

Earlier than investing our cash for revenue, it is very important ensure that it’s a bona fide revenue producing asset.

That is very true if it guarantees what looks like an extremely excessive return.

Some previous blogs which is likely to be attention-grabbing particularly to newer readers:

1. 24% yield in 24 months?

2. Funding with 6% a month return?

3. $71,000 misplaced in bogus funding?

4. EcoHouse: Questions we should ask.

5. Is Eagle Hospitality Belief price it?




For one thing to vow a return of 20% each year, it must be producing a a lot increased return than that to be able to be bona fide.

How seemingly is that?

If a return of upper than 20% each year is bona fide, then, the following query to ask is whether or not that’s sustainable?

For examples:

1. 14% ROI each year?

2. Purchase a bond fund that pays 7% each year?

Keep in mind, bloggers are simply common people such as you and me.

Do not learn blogs pondering that they’re all the time proper.

I need to say this as a result of the one who left the remark stated he was largely influenced by blogs and YouTube movies to place an increasing number of cash in cryptocurrencies. 

After I did a search on staking cryptocurrencies, for instance, I noticed many “specialists” telling individuals find out how to do it to grow to be wealthy, focusing solely on the excessive returns however not the excessive threat.

I’ve stated earlier than that bloggers (and now YouTubers too) who inform those who cryptocurrencies are investments are confused and they’re complicated different individuals.




Cryptocurrencies is likely to be digital belongings however to place cash in them pondering they might develop our wealth shortly is extra speculating than investing.

We will spend money on blockchain know-how however not cryptocurrencies.

Historical past does not repeat however it rhymes.

Anyway, after studying that remark, for a lot of causes, I simply really feel {that a} weblog like that is vital.

I suppose I additionally want an outlet in any case that negativity within the reader’s remark.

Thank goodness I’ve ASSI.

References:

1. 2Q 2022 passive revenue: Stronger.

2. My ultimate phrase on cryptocurrencies.

Not too long ago printed:
Our CPF cash isn’t our cash?

You may wish to watch or hearken to this video:





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