Thread - Nostr Hypermedia

SwissNode swissnode@current.tips 2 years ago

here is my dilemma: i have a forced pension that is set in CHF. I MUST contribute each month by law. I can't take it and hodl BTC. Now the CHF is as hard af BUT it still evaporates as all fiat and the cumulative effect is disastrous. SO.... WOULD I opt for some Bitcoin ETF instead of putting my pension directly into fiat? I think the answer is : YES So maybe the idea isn't so stupid for me. BUT I ofc get the whole shitty paper Bitcoin, custodial nature of it. Just being pragmatic... The kicker to the story is... I was asked if I would like to switch from a CHF cash (locked) account to "invest in funds" mode - did this: the fund did a -17% in the very first year. You can't make this shit up!!

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Replies (3)

XeqT Monetary Freedom (∞/21M) + (₿+⚡) = 🧡 XeqTMonetaryFreedom@BitcoinNostr.com 2 years ago

Do what works for you, mate. I had money in my work pension, to which I've contributed for 5-6 years. After being orange-pilled, I wanted to take it all out an buy Bitcoin with it. However, after looking into the process of doing that, I realised that after fees and taxes, I'd be lucky to be left with 20% of the money. So, with that in mind, I simply opened a private pension account, transferred my work pension in it, and used the funds to buy MSTR, RIOT, and ARB, as those were the closest Bitcoin proxies I could invest in. I would rather just have bought Bitcoin with the funds, but it's better than having the money invested for me by a pension fund.

Jose Sammut 2 years ago

Securitizing Bitcoin makes it accessible past beaurocrats.

davesoma 2 years ago

The fascinating aspect of Switzerland is that banks still offer the option to tie up your money, essentially until your death, in a third-tier pension instrument. This instrument offers 1% interest while healthcare and energy costs are skyrocketing. It's supported by a fictional CPI that props up these bank instruments for the benefit of the system and people still drink this kool aid.