Sunday, October 24, 2021

Should I move all of my retirement savings into Ethereum?

Here is the deal. I've now got a lifetime of experience that tells me, has proven to me, over and over and over again that our currency is corruptible, corrupted, tamperable, and oppressive. Our government continuously erodes our wages, our purchasing power, and worst of all, our lifetimes of savings. About every 7 to 10 years, we experience some major economic event, which is leveraged to induce even further and faster erosion of working-class people's savings and investments. I've seen, experienced first hand the eradication of pension plans, watched people in top positions benefit from that transition, I've watched 401K management company executives turn from millionaires to multi-millionaires to even billionaires as they scraped off the top from thousands, tens of thousands of hopeful, frugal, hard-working people's lifetimes of savings. When the markets surge, we see paltry returns, in market downturns we see massive losses, and no matter how the markets go, fees, fees, fees constantly scraping away at everyone's holdings. Sure, some fair well, but there are now generations of us who have not, who have lived strenuously frugal and responsible lifestyles, and in all of their steady contributions, those contributions have primarily gone to the gains and benefits of the uber wealthy, to our detriment. I know with 100% certainty that I'm not alone. I've watched people who spent their entire lives working smart, working hard, living modest to frugal to even poorly, who died in poverty while those that they "served" lived in opulent luxury on the results of so many other people's labor.

Anyhow, this isn't just about that. It isn't a matter of envy or want, it's a matter of need. I'm approaching the end of my employability, the period of time between when corporations and employers see you as an attractive asset that they can extract wealthy from, and when the government begins to return the social security that you paid into. That gap is large, very large, and for many, likely myself, it starts unexpectedly. Even if I could remain employed till retirement age, all of my projections, despite a lifetime of contributions, tell me that I will not have enough. I've created too much wealth for others and not been able to capture enough in the trickle down for myself and my family. I've likely only a year or so worth of retirement saved and that is if the government tapers down their money tampering, but what they've done already, the real world, real cost of living increases that will never go away, that's been too much. It's stolen away too much purchasing power, and I see no way to rebuild it at my age. Except for one...

I undertand Bitcoin and Ethereum, and I favor Ethereum for all the reasons that I do understand and all that I can do with it. I see it as a currency, a concept, a platform that is far far far less corruptible and tamperable than today's fiat. I see demand only increasing. I see algorithmically controlled, incentivizations, and rewards for participating. And using just the most conservative numbers, I see the returns are far better than what I can get from continuing to participate in an old money economy that is rigged to oppress the working-class. For a few years now I've slowly and steadily made a transition, adding more and more to my ETH holdings, but these past two years look so very much like the prelude to past recessions. It's as clear as day to an old timer like myself. I'm scared of having to go through another multi-year downturn, loss of job, increasingly rapid devaluation of retirement funds. I see no other way out, and I'm considering making a full switch, full 100% move to ETH.

Am I alone in this perspective, these life experiences? Is anyone else weary of seeing their wages and lifetimes of savings devalued? What other strategies would you recommend?


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