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Anything related to bitcoin, crypto, blockchain

alord

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Yet another conversation about crypto on the forum... Jokes apart, as many of us these days, I'm wondering to which point crypto can be a wealth creator instead of an income producer for Fastlane entrepreneurs.

My business is currently making around $10k a month, and over the last years, I kept reinvesting most of the profits on the company itself. I do think that crypto is here to stay in some way or another, but I'm wondering whether it makes to invest $200-400/month if not more on interesting crypto projects WITH the idea of wealth creation.

One side of me thinks it is a good idea because I already 10X my crypto investment in the past, and as said, I do believe these projects have great potential - I see these projects as angel investing.

The risk-averse side of me tells me that at this stage, the money is better invested in my business, which I'm in control of and has already multiplied the capital I've invested in it way more than crypto but is limited to just my own resources in terms of team, energies, time, capital to keep growing. In contrast, crypto has hundreds of millions of dollars in momentum.

For now, one move I've done is acquiring a site reviewing crypto exchanges (my company runs comparisons sites in the tech niche anyways). This is to gain exposure to the niche and sell pickles and axes in the gold rush so that even if the crypto projects I picked are not going to skyrocket, I'll still earn from people investing.

Can investing some spare funds (I'm not talking about going all-in) in crypto be a wealth accelerator, or is it just FOMO, and it's better to just focus on my business because I can control it?
 
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Ocean Man

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That's like asking us to decide for you whether or not you should invest in stocks & options. Would you invest all of your money into purely stocks & options? You could and it could be rewarding or it could not be. It's all up to you. There's a lot of crappy projects and there are a ton of good projects in crypto.
 

alord

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That's like asking whether or not you should invest in stocks & options. Would you invest all of your money into purely stocks & options? You could? It's all up to you.
The question is more about whether it's the right time at this stage of revenues of my company to "diversify" or to just focus instead
 

Ocean Man

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The question is more about whether it's the right time at this stage of revenues of my company to "diversify" or to just focus instead
I don't know anything about your company, so I'm not able to give an answer. You could continue to grow your business. Crypto is just another potential avenue.
 
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HabitsCampaigner

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I would also look at what your meaning and purpose is? If it’s tied into your business along with the control benefit, that might be worth investing even more in.
 

Antifragile

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$10k/ month is a small number for a business. Depends on where you live, but generally a small business.

To me (and I’m just a stranger on the forum!) - either go to crypto / blockchain to create a business out of it. Work at it 10 hrs a day, invest not gamble. Or option 2, grow your current business to $100k per month, then $200k per month etc. Your $100-$200 bucks into crypto isn’t diversification, feels like a hobby distraction.

Again, don’t listen to strangers on the internet. We all have opinions and most are like assholes, full of shit.
 

Kevin88660

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Yet another conversation about crypto on the forum... Jokes apart, as many of us these days, I'm wondering to which point crypto can be a wealth creator instead of an income producer for Fastlane entrepreneurs.

My business is currently making around $10k a month, and over the last years, I kept reinvesting most of the profits on the company itself. I do think that crypto is here to stay in some way or another, but I'm wondering whether it makes to invest $200-400/month if not more on interesting crypto projects WITH the idea of wealth creation.

One side of me thinks it is a good idea because I already 10X my crypto investment in the past, and as said, I do believe these projects have great potential - I see these projects as angel investing.

The risk-averse side of me tells me that at this stage, the money is better invested in my business, which I'm in control of and has already multiplied the capital I've invested in it way more than crypto but is limited to just my own resources in terms of team, energies, time, capital to keep growing. In contrast, crypto has hundreds of millions of dollars in momentum.

For now, one move I've done is acquiring a site reviewing crypto exchanges (my company runs comparisons sites in the tech niche anyways). This is to gain exposure to the niche and sell pickles and axes in the gold rush so that even if the crypto projects I picked are not going to skyrocket, I'll still earn from people investing.

Can investing some spare funds (I'm not talking about going all-in) in crypto be a wealth accelerator, or is it just FOMO, and it's better to just focus on my business because I can control it?
From the facts and figures given, it doesn’t seem to me 200-400 a month is going to make a big difference to your business.

But even if your crypto investment goes well. It is not going to bring to you on your next stage of wealth either. 400 x 6 month is 2.4k. Ten k that is 24k the best case scenario. Because you are dollar cost averaging your investment you are not going to hit 10x forever..so thats the best case..

So basically the crypto investment is just a learning experience, hardly a wealth accelerator. Nothing wrong with that. But you shouldn’t have unrealistic expectation either.
 
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Ing

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When you invest in cryptos at the right time, it sure can be a wealth accellerator.
When you know, what you do.
 

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It’s not a wealth creator. It’s a place to put some money if you like exposure to crypto. I wouldn’t even call it an investment yet.

Your wealth creator is providing value to others at scale.

Investments work with your value to make you wealthier, not wealthy in the first place.

The world is full of people that think they can game the market and rise to the top. The best do better than average. The average do… average. The idiots hand their money away to the above average.

Buying and owning a lot of a particular crypto relative to the rest of your savings, and timing a giant spike… That’s pure luck. Sure you hear stories of someone who put their life savings in Netflix, Bitcoin, or insert whatever and made millions… They got lucky.

Luck isn’t a business strategy.
 

MJ DeMarco

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Focus on your business. Get that $10K to $50K/month -- this is where you can get the asymmetric returns.

If it were me, I'd put the excess cash in a variety of instruments: crypto, dividend stocks, tax-free bonds, cash, and gold.
 
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alord

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$10k/ month is a small number for a business. Depends on where you live, but generally a small business.

To me (and I’m just a stranger on the forum!) - either go to crypto / blockchain to create a business out of it. Work at it 10 hrs a day, invest not gamble. Or option 2, grow your current business to $100k per month, then $200k per month etc. Your $100-$200 bucks into crypto is t diversification, feels like a hobby distraction.

again, don’t listen to strangers on the internet. We all have opinions and most are like assholes, full of shit.

Very good point, thanks. That's essentially what I was thinking, thanks for confirming this, I really needed an external opinion

Focus on your business. Get that $10K to $50K/month -- this is where you can get the asymmetric returns.

If it were me, I'd put the excess cash in a variety of instruments: crpyto, dividend stocks, tax-free bonds, cash, and gold.

Thanks MJ! I was re-reading TMF and it did give me a lot of focus on what truly matters. This message here gave me yet another hint to remain focused and diversify when it makes more sense (the FOMO in crypto is obviously always huge, at times hard to battle). Really appreciate it!
 

biophase

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Yet another conversation about crypto on the forum... Jokes apart, as many of us these days, I'm wondering to which point crypto can be a wealth creator instead of an income producer for Fastlane entrepreneurs.

My business is currently making around $10k a month, and over the last years, I kept reinvesting most of the profits on the company itself. I do think that crypto is here to stay in some way or another, but I'm wondering whether it makes to invest $200-400/month if not more on interesting crypto projects WITH the idea of wealth creation.

One side of me thinks it is a good idea because I already 10X my crypto investment in the past, and as said, I do believe these projects have great potential - I see these projects as angel investing.

The risk-averse side of me tells me that at this stage, the money is better invested in my business, which I'm in control of and has already multiplied the capital I've invested in it way more than crypto but is limited to just my own resources in terms of team, energies, time, capital to keep growing. In contrast, crypto has hundreds of millions of dollars in momentum.

For now, one move I've done is acquiring a site reviewing crypto exchanges (my company runs comparisons sites in the tech niche anyways). This is to gain exposure to the niche and sell pickles and axes in the gold rush so that even if the crypto projects I picked are not going to skyrocket, I'll still earn from people investing.

Can investing some spare funds (I'm not talking about going all-in) in crypto be a wealth accelerator, or is it just FOMO, and it's better to just focus on my business because I can control it?
$400 vs $10k is 4%. I think 4% exposure for crypto is ok in our portfolios. Do you need the $400 for something else?
 

alord

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$400 vs $10k is 4%. I think 4% exposure for crypto is ok in our portfolios. Do you need the $400 for something else?
Yep, I'm still plan to put in a bunch of money when the market will be more bearish but I don't want to distract myself too much from my business :)
 
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Dr5x

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$10k/ month is a small number for a business. Depends on where you live, but generally a small business.

To me (and I’m just a stranger on the forum!) - either go to crypto / blockchain to create a business out of it. Work at it 10 hrs a day, invest not gamble. Or option 2, grow your current business to $100k per month, then $200k per month etc. Your $100-$200 bucks into crypto isn’t diversification, feels like a hobby distraction.

Again, don’t listen to strangers on the internet. We all have opinions and most are like assholes, full of shit.
..spot on - either focus on growing your business or - if you don't see a growth path there - build a new BC related company. In any even, if you focus 100% on building a company (= active investment!) your likelihood of being successful is exponentially higher than speculation on the crypto markets..
 

Dr5x

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Focus on your business. Get that $10K to $50K/month -- this is where you can get the asymmetric returns.

If it were me, I'd put the excess cash in a variety of instruments: crypto, dividend stocks, tax-free bonds, cash, and gold.
I fully agree - unless you don't see a growth path with your existing biz.

One of my investment rules is that I am selling if I feel that I cannot create more value (for properties this means the most attractive use of the property, zero vacancy, long leases, maxed out rent rolls etc.).
 

alord

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I fully agree - unless you don't see a growth path with your existing biz.

One of my investment rules is that I am selling if I feel that I cannot create more value (for properties this means the most attractive use of the property, zero vacancy, long leases, maxed out rent rolls etc.).
Good point, the thing is, deploying capital in my current business is limited and more long-term (my current business is essentially an investment company in another alternative asset class which takes time to cater a return.)

That's why crypto would be fit in as it would be simply another asset class added to the equation and diversification in the company.
 
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Dr5x

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I am the wrong guy when it comes to diversification advice - I am a firm believer in monogamy ;-)

A word of caution: every financial advisor would pull out their hair when looking at my assets - pretty much 100% exposure to real estate (= income generating properties) + cash (= funds to invest)..
 

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