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Not financial advice, 600k isn’t enough unless you live in a low cost of living region. Lazy: Send it to Gemini, buy 600k worth of GUSD, loan it on their Lend

Not financial advice, 600k isn’t enough unless you live in a low cost of living region. Lazy: Send it to Gemini, buy 600k worth of GUSD, loan it on their Lend program and collect 8%pa compounded monthly. Collect 48k GUSD a year. Convert that back to bank dollars every month. Live your life. Risky: Send it to Gemini, buy 600k DAI. Send it to ethereum chain. Buy $200 of ether that you will spend on gas. Swap half the DAI for USDC using a DEX. Deposit 300k/300k in a liquidity pool DAI/USDC and collect 18-20%pa in trade fees. Withdraw collateral every month by redeeming the liquidity provider tokens. If you wish to save gas fees, use something like polygon bridge to move it to the Polygon chain. Do LP deposits there instead. Crazy: buy 12 Bitcoin on Gemini. Store it on a hardware wallet. Sell A fraction every few months to live. Never sell it all in one shot.

murderfs 5y ago
> Lazy: Send it to Gemini, buy 600k worth of GUSD, loan it on their Lend program and collect 8%pa compounded monthly. Why would you bother with this when TIPS bonds are paying out 7.12%?
- randomhodler84 5y ago
  Yeah. A lot of folks are talking about inflation bonds (not TIPS). I dunno man. I trust the winklevoss, 2 of the richest men on the planet (in Bitcoin, which is the only money that matters ;-)). Why? Because a inflation protected security is denominated in the currency that is inflating. It’s kinda nonsensical really. How to achieve those returns? It’s money printing isn’t it. In the 20% extreme high yield example above, providing liquidity is a service, extremely meaningful in globalized digital economies. I strongly recommend the crazy option. But that’s just me cos I’m crazy. :-)
  - beervirus 5y ago
    Bitcoin isn’t money. It’s a gambling token.
    - randomhodler84 5y ago
      What is money? What is the role of the state in the value of currencies? What is the average life of fiat currencies? https://wtfhappenedin1971.com/ https://wtfhappenedin1971.com/
      - beervirus 5y ago
        Money doesn’t fluctuate in value 50% on a timescale of minutes.
        randomhodler84 5y ago
        I mean, it can. Not minutes, and minutes means internet speeds. Old school finance is in the order of days. Securities can collapse in minutes too I guess… Fiat currencies inflate and are worth less every year. In some places in the world, relative to the USD, which itself is an inflationary fiat currency, it could be 50%! What if you gave your life’s labor and saved it all in something a politician and banker could erase with a database record.
        beervirus 5y ago
        >I mean, it can. >Not minutes So… it can’t?
        randomhodler84 5y ago
        Yes. It can. And has. Currencies collapse all the time. We have many examples throughout history where extreme events led to values in day to day currencies fluctuate wildly. I get it. You need the dollar to pay your debts, your goods and services and your tax. This is the same as every human ever in history in their respective daily transactional token. (US) Dollars are good, and will be how people pay for things around the world in some form or another for many many years to come. However, we must not forget that it is a fiat currency, and as such value is at the whim of the politician and banker. Regarding the wild scary world of decentralized stores or value, cryptocurrency tokens, Bitcoin. Ethereum. It is scary to see your savings fluctuate wildly. It does however grant some perspective on the system. Money is the shared delusion that some token is worth some goods or services to other humans, or systems. The systems part is where it gets interesting, down the rabbit hole. Sometimes we want to trust the math, rather than trust the man or trust the gun. The smartest people on earth seem pretty ok with the math; but they don’t always have the confidence of the man or the gun. It is a fairly new concept to apply planetary value structures to decentralized peer to peer networks. What if, in the future, we implemented protocols that enabled the same meta patterns we see emerge in existing systems, like the global equity and capital markets, commodities and financial instruments and implemented them on permission-less systems, with no gatekeepers, no old guard to enforce arbitrary discriminatory and rules, only math. Would that not empower humanity? Could it not break down existing long lived biases and systems of oppression? Freedom through mathematics.
- 3np 5y ago
  Are TIPS bonds accessible outside the US for non-Americans?
  - murderfs 5y ago
    AFAIK, TreasuryDirect should be available to non-Americans. You'll need to get a U.S. Tax Identification Number, and figure out your tax situation though: it'll vary from country to country based on treaties with the U.S.
    - 3np 5y ago
      Looked it up. https://www.treasurydirect.gov/indiv/help/TDHelp/faq.htm#OpenAnAccount https://www.treasurydirect.gov/indiv/help/TDHelp/faq.htm#Ope... > In order to open a TreasuryDirect account, an individual or entity account manager must have a valid Social Security Number (SSN), be 18 years of age or over, and be legally competent. An entity must have a valid SSN or Employer Identification Number (EIN). The account owner must also have a United States address of record and have an account at a U.S. depository financial institution that will accept debits and credits using the Automated Clearing House method of payment. AFAIUI, getting an SSN from abroad as a non-US citizen/resident is not realistic.
      - murderfs 5y ago
        Ah, yeah, you're right. You can probably still buy them through a broker, though. Searching around a bit, it looks like you should be able to open an account with Schwab: https://international.schwab.com/ https://international.schwab.com/
        deleted 5y ago
        [deleted]
    - gruez 5y ago
      The account might be available to non-americans, but I-bonds aren't. >Who may own an I bond? >Individuals >Yes, if you have a Social Security Number and meet any one of these three conditions: > United States citizen, whether you live in the U.S. or abroad > United States resident > Civilian employee of the United States, no matter where you live >To buy and own an electronic I bond, you must first establish a TreasuryDirect account. https://www.treasurydirect.gov/indiv/research/indepth/ibonds/res_ibonds_ibuy.htm https://www.treasurydirect.gov/indiv/research/indepth/ibonds...
- medvezhenok 5y ago
  Series I Bonds, not TIPS; they only have that rate locked in for the next 6 months (you're getting a 0 percent real return), and you can only buy $10K per year (+$5K if you do the tax return withholding method).
crossroadsguy 5y ago
What’s Gemini? I’m not sure but comes across as something crypto. Why would you suggest a person to get into crypto, and completely at that, who is looking to make a easy and safe living (if not retire)? Even if the corpus is not big enough for retirement I can’t think of any way where crypto is a solution, let alone only solution.
- randomhodler84 5y ago
  My suggestions were in stablecoins. It’s dollars like notes debt and database records. Gemini is the regulated, New York based cryptocurrency exchange run by the Winklevoss twins. I just personally consider it to be the most reputable exchange, closer to Wall Street than the Wild West, so to speak.
  - 11101010001100 5y ago
    But the ~8% on GUSD is not insured right?
    - artdigital 5y ago
      No crypto products are insured the same way banks are insured
      - medvezhenok 5y ago
        This is incorrect - there is no FDIC backstop on crypto or stablecoin lending. The risks are not comparable. Source: https://support.gemini.com/hc/en-us/articles/360056367771-Are-the-Crypto-Moved-to-Earn-Insured- https://support.gemini.com/hc/en-us/articles/360056367771-Ar...
    - randomhodler84 5y ago
      Neither is the 600k FDIC unless it is in 3 different bank accounts earning 0.01%pa. Securities… well you got SIPC protections if the brokerage fails but that ain’t insurance. Insurance is useful sure but insurance also is a cost. Some risks in life are uninsurable.
11101010001100 5y ago
Do you have any liquidity pools that you recommend or where to learn more about the different pools?
- randomhodler84 5y ago
  Defi llama dot com is a leaderboard for TVL or total value locked across multiple chains — analogous to Assets Under Management. Take a look at some of the larger projects and most LP sites are code forks of other large projects. They often have stats or info pages that display LP pool balances, tx per day, profitability etc. I think barring a catastrophic bug in the now very tested LP code, stablecoin LP — and eventually Forex stablecoin LP will be the biggest banking revolution in the 2020s.

murderfs 5y ago

> Lazy: Send it to Gemini, buy 600k worth of GUSD, loan it on their Lend program and collect 8%pa compounded monthly. Why would you bother with this when TIPS bonds are paying out 7.12%?

randomhodler84 5y ago
Yeah. A lot of folks are talking about inflation bonds (not TIPS). I dunno man. I trust the winklevoss, 2 of the richest men on the planet (in Bitcoin, which is the only money that matters ;-)). Why? Because a inflation protected security is denominated in the currency that is inflating. It’s kinda nonsensical really. How to achieve those returns? It’s money printing isn’t it. In the 20% extreme high yield example above, providing liquidity is a service, extremely meaningful in globalized digital economies. I strongly recommend the crazy option. But that’s just me cos I’m crazy. :-)
- beervirus 5y ago
  Bitcoin isn’t money. It’s a gambling token.
  - randomhodler84 5y ago
    What is money? What is the role of the state in the value of currencies? What is the average life of fiat currencies? https://wtfhappenedin1971.com/ https://wtfhappenedin1971.com/
    - beervirus 5y ago
      Money doesn’t fluctuate in value 50% on a timescale of minutes.
      - randomhodler84 5y ago
        I mean, it can. Not minutes, and minutes means internet speeds. Old school finance is in the order of days. Securities can collapse in minutes too I guess… Fiat currencies inflate and are worth less every year. In some places in the world, relative to the USD, which itself is an inflationary fiat currency, it could be 50%! What if you gave your life’s labor and saved it all in something a politician and banker could erase with a database record.
        beervirus 5y ago
        >I mean, it can. >Not minutes So… it can’t?
        randomhodler84 5y ago
        Yes. It can. And has. Currencies collapse all the time. We have many examples throughout history where extreme events led to values in day to day currencies fluctuate wildly. I get it. You need the dollar to pay your debts, your goods and services and your tax. This is the same as every human ever in history in their respective daily transactional token. (US) Dollars are good, and will be how people pay for things around the world in some form or another for many many years to come. However, we must not forget that it is a fiat currency, and as such value is at the whim of the politician and banker. Regarding the wild scary world of decentralized stores or value, cryptocurrency tokens, Bitcoin. Ethereum. It is scary to see your savings fluctuate wildly. It does however grant some perspective on the system. Money is the shared delusion that some token is worth some goods or services to other humans, or systems. The systems part is where it gets interesting, down the rabbit hole. Sometimes we want to trust the math, rather than trust the man or trust the gun. The smartest people on earth seem pretty ok with the math; but they don’t always have the confidence of the man or the gun. It is a fairly new concept to apply planetary value structures to decentralized peer to peer networks. What if, in the future, we implemented protocols that enabled the same meta patterns we see emerge in existing systems, like the global equity and capital markets, commodities and financial instruments and implemented them on permission-less systems, with no gatekeepers, no old guard to enforce arbitrary discriminatory and rules, only math. Would that not empower humanity? Could it not break down existing long lived biases and systems of oppression? Freedom through mathematics.
3np 5y ago
Are TIPS bonds accessible outside the US for non-Americans?
- murderfs 5y ago
  AFAIK, TreasuryDirect should be available to non-Americans. You'll need to get a U.S. Tax Identification Number, and figure out your tax situation though: it'll vary from country to country based on treaties with the U.S.
  - 3np 5y ago
    Looked it up. https://www.treasurydirect.gov/indiv/help/TDHelp/faq.htm#OpenAnAccount https://www.treasurydirect.gov/indiv/help/TDHelp/faq.htm#Ope... > In order to open a TreasuryDirect account, an individual or entity account manager must have a valid Social Security Number (SSN), be 18 years of age or over, and be legally competent. An entity must have a valid SSN or Employer Identification Number (EIN). The account owner must also have a United States address of record and have an account at a U.S. depository financial institution that will accept debits and credits using the Automated Clearing House method of payment. AFAIUI, getting an SSN from abroad as a non-US citizen/resident is not realistic.
    - murderfs 5y ago
      Ah, yeah, you're right. You can probably still buy them through a broker, though. Searching around a bit, it looks like you should be able to open an account with Schwab: https://international.schwab.com/ https://international.schwab.com/
      - deleted 5y ago
        [deleted]
  - gruez 5y ago
    The account might be available to non-americans, but I-bonds aren't. >Who may own an I bond? >Individuals >Yes, if you have a Social Security Number and meet any one of these three conditions: > United States citizen, whether you live in the U.S. or abroad > United States resident > Civilian employee of the United States, no matter where you live >To buy and own an electronic I bond, you must first establish a TreasuryDirect account. https://www.treasurydirect.gov/indiv/research/indepth/ibonds/res_ibonds_ibuy.htm https://www.treasurydirect.gov/indiv/research/indepth/ibonds...
medvezhenok 5y ago
Series I Bonds, not TIPS; they only have that rate locked in for the next 6 months (you're getting a 0 percent real return), and you can only buy $10K per year (+$5K if you do the tax return withholding method).

crossroadsguy 5y ago

What’s Gemini? I’m not sure but comes across as something crypto. Why would you suggest a person to get into crypto, and completely at that, who is looking to make a easy and safe living (if not retire)? Even if the corpus is not big enough for retirement I can’t think of any way where crypto is a solution, let alone only solution.

randomhodler84 5y ago
My suggestions were in stablecoins. It’s dollars like notes debt and database records. Gemini is the regulated, New York based cryptocurrency exchange run by the Winklevoss twins. I just personally consider it to be the most reputable exchange, closer to Wall Street than the Wild West, so to speak.
- 11101010001100 5y ago
  But the ~8% on GUSD is not insured right?
  - artdigital 5y ago
    No crypto products are insured the same way banks are insured
    - medvezhenok 5y ago
      This is incorrect - there is no FDIC backstop on crypto or stablecoin lending. The risks are not comparable. Source: https://support.gemini.com/hc/en-us/articles/360056367771-Are-the-Crypto-Moved-to-Earn-Insured- https://support.gemini.com/hc/en-us/articles/360056367771-Ar...
  - randomhodler84 5y ago
    Neither is the 600k FDIC unless it is in 3 different bank accounts earning 0.01%pa. Securities… well you got SIPC protections if the brokerage fails but that ain’t insurance. Insurance is useful sure but insurance also is a cost. Some risks in life are uninsurable.

11101010001100 5y ago

Do you have any liquidity pools that you recommend or where to learn more about the different pools?

randomhodler84 5y ago
Defi llama dot com is a leaderboard for TVL or total value locked across multiple chains — analogous to Assets Under Management. Take a look at some of the larger projects and most LP sites are code forks of other large projects. They often have stats or info pages that display LP pool balances, tx per day, profitability etc. I think barring a catastrophic bug in the now very tested LP code, stablecoin LP — and eventually Forex stablecoin LP will be the biggest banking revolution in the 2020s.