Tuesday, July 6, 2021

FOR THE WIN

Why you should go all in on silver.

1 - Because gold is going to explode and silver will outperform gold by 2.5x

A fall in gold to silver ratio from 70 to 20 equals a fall of 70% and read fall as gain.

silver to gold ratio today is 26/1800 = .014

in the future if silver to gold goes to 500/10000 = .05

2.5x is required to rise from .014 to .05 (a 20:1 ratio)

Gold goes to 10000 from 2000 is 4x gains

Silver goes to 500 from 30 is 15x gains

One of you smart apes have to calculate that for me you get the idea tho

2 - The (hyper) inflation already exists. It is stored in all other asset classes at the moment. In the future this inflation will flow out of risk on assets and into commodities and monetary metals. And that's a lot of dollars.

3 - The top 25 banks in America have 250 Trillion in derivatives against about 20 trillion of assets. If they melt themselves down your physical assets will survive.

3b - 100 trillion of that is in interest rate swaps. The Fed can never raise interest rates. It would obliterate all banks on the spot.

4 - If the Fed does not want to send us back to the stone age they will continue to inflate. Inflation is a tax. The more the masses are taxed the less purchasing power they have. The less they consume (ex necessities) the less profitable companies become. This causes stocks to be sold and this money is looking for a safe place to hide. Some will find a home in gold and silver. Hundreds of billions. Maybe trillions.

5 - If the Fed tries to stimulate a stock market stagflation crash this will visibly hurt the dollar market. (High frequency) Computer programs will tick for tick sell dollars and buy gold and silver and maybe treasuries too.

5b - If the dollar is falling then treasuries should be falling because the only thing more useless than devalued dollars today are IOU devalued dollars 1 to 30 years in the future. If treasury yields are falling as the dollar is falling that means the Fed is printing dollars to absorb the mass dumping of treasuries. Proceeds will go into, you guessed it bitcoin. Just kidding it's going to gold and silver maybe real-estate and large cap blue chip stocks like Proctor and Gamble.

6 - If hedge funds have not front run them they will pile in on the trade.

7 - The risk is asymmetric. When this starts to come apart it's going to happen quick. Silver will be up 5% week one, 10% week two, 20% week three etc etc. You need to be loaded up before the move. People who don't own silver will not buy because the move is going to be so big so fast (like H1 2016) they'll wait for a pull back. There will be no pull back. There will be another run higher still. Then people will buy for fear of missing out. Then we might get a pull back.

8 - Price controls will create shortages and long lines. You can cut back room deals with vendors to avoid these lines and get better prices with silver barter.

That about covers it for tonight. This is the inflation scenario. Fed stimulating a recession caused by inflation. How the treasury market responds and what programs the congress rams through the treasury is icing on the cake so to speak.

Although as Peter Schiff says and I paraphrase "when the financial crisis is the dollar the Fed can not print more dollars because the excess dollars past and present are themselves the problem." This is why I said in my previous post that when inflation is causing banks, supermarkets and gas stations to be wrecked, looted and burned to the ground in major metropolitan areas the money printing will come to an end and the congress is not going to spending a single cent on green new deal initiatives at the same time the last thing on Americans minds is buying consumer electronics and EVs because they are trying to come up with enough for food, energy, property taxes, rent. If Asia is booming in 1:1 inverse sure global industrial demand will be unaffected -good luck with that. Maybe but not in real time.

Even if the Fed and congress fight the dollar inflation with more dollars that will collapse the western world. Lots of foreign central banks hold dollars as reserves - idiots, hence the CB gold stacking competitions.

If they are forced to contract there are still too many dollars in existence from previous administrations such that gold is going to hit at least 10,000, minimum, with a silver gold ratio of pick a number.

The sequence of events no one can predict but we're going into a stagflationary depression. The choices are hyperinflation or contraction resulting in the greatest inflationary depression the world has ever seen. One that is going to take at least several generations to come out of. The seized engine is going to have to be removed, disassembled, rebuilt and reinstalled, without a line of credit.

250 trillion from the banks 30 trillion outstanding govt debt 200 trillion unfunded liabilities How many missing trillions from Dr Skidmore I heard triple digits at last count

We are 500 trillion in the hole. Some of that will go to money heaven the rest goes down Exeter's pyramid.

Massive deflation in everything that is not gold & silver, food & energy and maybe housing.

The trap behind all this is interest rates. If you raise interstate rates to prevent hyperinflation you destroy all commercial banks and pension funds and insurance companies. If they raise rates they would have to restructure and write off just about all liabilities present and future. The interest carry on 30 trillion at 10% is all tax revenue and then some. The banks will close and any money that was inside evaporated. Raising rates causes the banks to take losses on their long bond positions and interest rate derivatives positions. Instant death.


Crypto Exchange Binance Suspends Euro Deposits via SEPA Bank Transfers

#crypto #cryptocurency #altcoins #blockchain #europa
Crypto Exchange Binance Suspends Euro Deposits via SEPA Bank Transfers

Troubles at cryptocurrency exchange Binance continue as the platform is now reportedly suspending euro deposits via SEPA bank transfers. Binance says the suspension is temporary and it is due to events beyond its control.

https://news.bitcoin.com/binance-suspends-euro-deposits.../


[Apex] Selling an Apex Account.

PayPal only. No bitcoin nothing else, I'll share the images of the account once you dm me.

This account is my main account and since I don't play the game heavy anymore it's just meh.

All the pay to win skins are there. Merciless Wing, Peacekeeper with a better iron sight, Outlands Avalanche. All that good stuff.

I have all the event badges from season 0 and 1 making it a bit rare account and then all the event badges from season 4 to now.

I have a 3k badge on Horizon, 3k on Pathfinder, 2k on Mirage, 2k on Bangalore (my main with 1860 kills and half a million damage done).

Kill counts. Horizon - 800 something.

Bangalore -1860 something

Pathfinder - 400 something.

Loba - 1000 something.

Wraith - 800 something.

The rest have a couple hundred kills the only excepting being gibraltor, fuse, rampart and Valkyrie

P.S. When I say something. I just don't know the exact number of kills but I know it's above that mark.

I am asking for 120 as the starting price. It's currently plat 4.

Don't worry we can bargain it a bit.


Cryptocurrency and Nature

There's always that 'bad' talk regarding mining and how it's affecting nature/natural resources, but with El Salvador's 'volcano' approach to handling a nationwide cryptocurrency implementation (srsly, I can't wait to visit that site to learn more), I'd like other countries to follow suit as well, preferably from third-world countries such as mine, Philippines. I'd love to spearhead crypto's resurgence here, especially after Sen. Pacquiao unveiled his coin, called Paccoin, in a cringey event. Manny doesn't know what he's talking about, bless him.

To non-U.S./U.K. readers, do you have any tips or ideas that closely resembles El Salvador's 'volcano' approach to mining? Something that is heavily focused on the importance of preserving natural/renewable sources while also generating income.

Yes. The post came up because a volcano here in the PH, Taal Volcano, erupted again just last night.


Subreddit Stats: CryptoCurrency top posts from 2021-06-05 to 2021-07-04 22:46 PDT

Period: 29.82 days

Submissions Comments
Total 994 193270
Rate (per day) 33.34 6325.13
Unique Redditors 597 36226
Combined Score 1020815 1785848

Top Submitters' Top Submissions

  1. 43593 points, 8 submissions: /u/_martinshkreli_

    1. I made a post about the scam OpisHub yesterday. The scammers didn't like that and bought downvotes to make my post invisible. So this is an even more detailed post about them. (20684 points, 625 comments)
    2. TITAN was at $60 two days ago, now it's at $0.00000003. Here's why you shouldn't YOLO in (and yes it's market cap) (10769 points, 1824 comments)
    3. Yesterday most people on here seemed sure we were in a bear market. Today looks green and people seem sure all of this is just a dip in this bull run. Nobody knows what is happening, don't come to this sub for advice. (9977 points, 1467 comments)
    4. Scam warning: if you see posts praising OpisHub on here, it's either the creators or paid shillers. Stay away. (1453 points, 106 comments)
    5. Did you know you could have made almost $5,000 worth of moons with a single post in their early days of moons? I analyzed the top 1,000 posts on this sub to see which ones earned the most (224 points, 279 comments)
    6. You know what's a really bad way to figure out if someone is an expert? Reddit karma! (202 points, 147 comments)
    7. Under absolutely no circumstances take a loan to buy crypto or take a loan instead of selling crypto (160 points, 152 comments)
    8. You want people like you-know-who to shut up about crypto? Then stop worshipping billionaires and celebrities that push crypto in a similarly/ even more uninformed way! (124 points, 50 comments)
  2. 35283 points, 26 submissions: /u/Dwez1337

    1. Elon Musk is Losing his Power over the Crypto Community as more People tend to ignore him (18519 points, 1881 comments)
    2. Bitcoin Price crashes from $1200 to $800 as China bans Crypto Transactions - 6th December 2013 (2419 points, 302 comments)
    3. U.S. Congressman Calls for Shutting Down Cryptocurrencies | Does he even know how Crypto works? (1566 points, 651 comments)
    4. JP Morgan accused of Manipulation because of Irrational and Unfounded Bearish Price Predictions (1512 points, 235 comments)
    5. Bitcoins Whitepaper is now being Censored across the Internet (even on Bitcoin.org) (1368 points, 419 comments)
    6. Reddit co-Founder prefers Ethereum over Dogecoin (1183 points, 298 comments)
    7. Now Official: Paraguay Follows El Salvador with Bitcoin Bill (1156 points, 109 comments)
    8. Paraguay to propose Bill that would make Bitcoin Legal Tender (1140 points, 133 comments)
    9. Reddit Co-Founder Endorses Ethereum (888 points, 123 comments)
    10. U.S. Government has a Problem with El Salvador letting Bitcoin compete with the US-Dollar (811 points, 265 comments)
  3. 29534 points, 9 submissions: /u/AlreadyLiberated

    1. Imagine living in El Salvador and having Elizabeth Warren tell you that using Bitcoin will destroy the planet. Then consider the energy used by US banks, the US military, and the US government, all to protect a US dollar that aims to destroy every other currency. (13703 points, 2392 comments)
    2. I hung in as long as I could, but it’s over. I’m leaving. (9821 points, 1160 comments)
    3. Ethereum’s Vitalik Buterin Says Cardano (ADA) Is Introducing Fresh Ideas to the Crypto Space ((Any chance we could stop with the ETH vs. ADA bull? Go read his quotes. The truth is actually more nuanced)). (2972 points, 648 comments)
    4. Why Prices Are Rising Today, and Where They Could Be Headed (A Reverse-Stochastic Analysis of the Winihoff Decumulation Phase) (1540 points, 543 comments)
    5. Starting tomorrow, July 1, Germany will allow 4,000 investment funds - managing $1.8 Trillion - to invest up to 20% in Bitcoin (571 points, 127 comments)
    6. Won’t make up for what they did, but if you traded on Robinhood, go get your money. Then delete the app.(Robinhood to pay $70 million for misleading customers and outages, the largest FINRA penalty ever) (360 points, 133 comments)
    7. Can we stop pretending the crash only hurts if you’re over invested? (214 points, 144 comments)
    8. Back in March and April, the media told us all about the kids in their dad’s basement who put their stimulus checks into memecoins and became millionaires. They didn’t write much about the tens of thousands of people who threw in their savings at ATHs, then sold at 40-60% losses in May and June. (210 points, 79 comments)
    9. What do so many gorgeous women want to teach me about Forex trading? ((Scam Alert). (143 points, 94 comments)
  4. 26534 points, 3 submissions: /u/eggnoggman

    1. Kevin O’Leary, Shark Tank host : “I don’t care if it goes down $20,000 or up $20,000. I’m not selling it. One bitcoin is one bitcoin. I’m in it for the long run.” "Nothing Will Replace Bitcoin". (17191 points, 1221 comments)
    2. Can't think about more bullish news than this. A survey with 100 hedge funds concluded that CFOs plan to allocate over 7% of their portfolios in bitcoin and other cryptocurrencies by 2026. We are not only here to stay, we are here to dominate (7577 points, 559 comments)
    3. I do not remember seeing Elon Musk support the blockchain space in such a way! The recent blog article by Mark Cuban is one of the most bullish things you'll read. It could drive a lot of new investors to the market. We need to make more noise around it. (1766 points, 365 comments)
  5. 25218 points, 3 submissions: /u/ControlPotential

    1. The President of El Salvador just announced that he is making Bitcoin legal tender in his country. (18189 points, 1742 comments)
    2. Elon Musk's latest attempt to pump Dogecoin fails miserably. He’s becoming irrelevant! (5531 points, 904 comments)
    3. President of Tanzania 🇹🇿 calls on the central bank to prepare for the "use of cryptocurrency" (1498 points, 130 comments)
  6. 23996 points, 3 submissions: /u/sgtslaughterTV

    1. President of El Salvadore on twitter: No Capital Gains taxes to be paid for Bitcoin, and Permanent Residence (greencards) will be granted for crypto entrepeneurs! (18709 points, 2019 comments)
    2. Adam back: No bitcoin wallet was hacked, nor is even known to be possible. Ransom hackers used a rented cloud server. FBI got a subpoena and took control of it and recovered coins. That's it. (4969 points, 731 comments)
    3. Mexico: two senators speak in favor of Bitcoin; They will propose crypto regulation before the Chamber of Deputies - 14 hours ago. (318 points, 57 comments)
  7. 21620 points, 1 submission: /u/DaleGribblesHairline

    1. John McAfee found dead in prison cell after Spanish high court allows extradition, according to Spanish newspaper El Mundo (21620 points, 2918 comments)
  8. 20631 points, 5 submissions: /u/adamdmn

    1. Iran president said that he wants to legalize cryptocurrencies “as soon as possible” (14332 points, 1371 comments)
    2. Ethereum’s Daily Active Addresses Surpass Bitcoin for the First Time in Crypto History (3737 points, 560 comments)
    3. First Bitcoin Billionaires Winklevoss Twins On Bitcoin: "We’re HODLers Until At Least $500,000” (2072 points, 414 comments)
    4. Vechain (VET) has partnered with Top Shangai-based Renji Hospital to launch MyBaby, a blockchain-based service that tracks IVF progress (314 points, 98 comments)
    5. Report: Bitcoin Whales Holdings Are Rising As BTC Whales Are Buying The Dip And Not Selling (176 points, 68 comments)
  9. 20325 points, 7 submissions: /u/jasonluxton

    1. Ethereum co-founder Vitalik Buterin revealed he profited more than $4 million from a $25,000 investment that he made into Dogecoin during 2016. But true to form, he gave it all away to charity. (10247 points, 524 comments)
    2. ‘Up until yesterday, I had been a millionaire’ - 33 year old investor refuses to sell despite losing over $167,000 in one day (8094 points, 2016 comments)
    3. ''There’ll be millions and millions of cryptocurrencies and crypto assets, just like there were millions and millions of websites. Most of them won’t work” - Coinbase co-founder Fred Ehrsam (774 points, 220 comments)
    4. Kraken CEO on BTC: ‘People Are Getting Ready To Go on Ramen Diets To Buy Bitcoin’ (534 points, 268 comments)
    5. Texans can buy crypto at grocery stores with crypto ATMs (390 points, 156 comments)
    6. Bitcoin just got its first makeover in four years, which will help it compete with Ethereum (185 points, 62 comments)
    7. Creating a Moon address for charitable purposes. (101 points, 100 comments)
  10. 19702 points, 1 submission: /u/Taitou_UK

    1. Nearly 90% of cryptocurrency investors surveyed say they weren't scared away by May's brutal selloff and are planning to buy more (19702 points, 1318 comments)
  11. 18863 points, 2 submissions: /u/ObscureOP

    1. Pornhub just saved a lot of my crypto (18622 points, 1862 comments)
    2. Some sideways trading tips for all you who fancy yourself day traders (241 points, 110 comments)
  12. 15808 points, 1 submission: /u/HeungMinSwan

    1. Introduced my friend to Crypto, Now he wont speak to me. (15808 points, 2739 comments)
  13. 15588 points, 5 submissions: /u/winvesting

    1. One of the largest owners of bitcoin, who reportedly held as much as $1 billion, is dead at 41 (12841 points, 1456 comments)
    2. Would you invest in Bitcoin if it crashed to $1.00? (1993 points, 1127 comments)
    3. Meet the company mining bitcoin using the flare gas from oil drilling - and drawing investment from Coinbase and the Winklevii (366 points, 79 comments)
    4. Omg Bitcoin 34k! New Bull Market! (255 points, 156 comments)
    5. A shitcoin with a 50% chance to go 100x and a 50% chance to go to ZERO (133 points, 270 comments)
  14. 14604 points, 10 submissions: /u/DetroitMotorShow

    1. Mark Cuban experiences his first rug pull! Titan crashed from $60 to $2. If you see 50,000% APYs, you should to be doubting it's legitimacy, not aping in. (6413 points, 1654 comments)
    2. ICP is so decentralised that to run a node you have to buy it from “approved distributors”. Lol. What a pile of garbage (5461 points, 1219 comments)
    3. World Bank rejected El Salvador request stating “Bitcoin is not transparent”. If anything is not transparent, it’s the legacy financial system peddled by World Bank. To hell with them (1226 points, 259 comments)
    4. Max Keiser caught lying. Claims he bought a home in El Salvador. The home is actually in Costa Rica. BTC needs to rid itself of these charlatans (436 points, 236 comments)
    5. After the worst launch of any coin in crypto history, ICP Founder now wants to launch ANOTHER COIN. (369 points, 258 comments)
    6. Warning: DeFi protocol are now using a 100% deposit fee scam that is stealing everyone's funds (206 points, 86 comments)
    7. Today, China pulled the plug and shut down all mining in Sichuan, a province which is powered 90% by renewables. Now these miners have to find a new home. (154 points, 93 comments)
    8. Financial services sector to be excluded from new global tax rules. Banks will not pay their share of taxes, every other industry has to. They are not even trying to hide their shenanigans anymore. (126 points, 23 comments)
    9. There is absolutely nothing of value on Binance Smart Chain except meme and scamcoins. With ETH 2.0 & other scaling solutions gaining traction, BSC's days are numbered. (108 points, 97 comments)
    10. There is more BTC on Polygon than on the Lightning Network! (105 points, 80 comments)
  15. 13495 points, 1 submission: /u/turnsyouon22

    1. I (24F) feel like a bad b*tch compared to my boyfriend (13495 points, 2178 comments)
  16. 13492 points, 1 submission: /u/Trevigol

    1. I work in a Bank, they forbid us from buying crypto and even talking about it in social networks (13492 points, 2198 comments)
  17. 13396 points, 12 submissions: /u/Set1Less

    1. Media says "It doesn’t matter where the Bitcoin wallet is—the FBI still can get access". These are dishonest lies. Stop lying and fooling people, FBI & Media! (6869 points, 1026 comments)
    2. Historic amount of Stablecoins have been moved onto centralised exchanges in the last 24 hours. Both Tether and USDC (1897 points, 470 comments)
    3. Fed printing more and more USD is a stab in the back for people in other countries that have adopted USD as their currency. That is why El Salvador is breaking free (1123 points, 239 comments)
    4. Respect to the whales who killed off TITAN. By eliminating a bad product, they've done a public service. People who believe in the free market should be celebrating the crash of TITAN, not calling for regulation to prevent such a crash from happening. (1055 points, 316 comments)
    5. Craig Wright has got a court order to get Bitcoin.org to remove the Bitcoin Whitepaper. Well, here is a website craigwrightisnotsatoshi.com that now hosts the Bitcoin Whitepaper. (579 points, 88 comments)
    6. Congressional Hearing on Crypto going on currently. Mostly same old boomers with same old attacks. Crypto bad, equity good. Why do they turn off comments and live chat, what are they afraid of? (501 points, 229 comments)
    7. Over the next several months, there will be lot of talk about Fed's Digital Dollar. It is just an attempt to deviate people's attention from the actual problem with the US Dollar - Inflation, devaluation and infinite QE (407 points, 148 comments)
    8. Congressman Brad Sherman (who is calling to ban crypto again!) biggest donors are ... American Bankers Association and Credit Card Processing Companies! (279 points, 64 comments)
    9. NOW, A Congressman from Paraguay changed to laser eyes and has said a Bitcoin and Paypal announcement is coming this week! (226 points, 73 comments)
    10. IMF sees legal, economic issues with El Salvador bitcoin move. In other words, the Central Bank Scam is shit scared. (191 points, 94 comments)
  18. 12958 points, 2 submissions: /u/Jezzadoe

    1. More Than a Third of Millennial Millionaires Have at least 50% of their Wealth in Crypto (12173 points, 904 comments)
    2. Fed Balance Sheet Hits $8 Trillion for the First Time, US Inflation Sees Biggest Surge in 13 Years (785 points, 299 comments)
  19. 12954 points, 2 submissions: /u/TheGiftOf_Jericho

    1. I give credit to the new investors who got into Crypto earlier in the year and are holding through this (12849 points, 2849 comments)
    2. MOONS are actually pretty great, it's greed that holds us back (105 points, 207 comments)
  20. 10989 points, 1 submission: /u/warwickfilm

    1. A great idea if you’re scared of not holding long term (10989 points, 948 comments)
  21. 10428 points, 2 submissions: /u/james8807

    1. Bit of Crypto positivity this week in 5 seconds (9399 points, 987 comments)
    2. Crypto positivity this week in one minute:- (1029 points, 189 comments)
  22. 10304 points, 1 submission: /u/TryingToMakeAMil

    1. You need at least 3 bull markets to get rich (10304 points, 1505 comments)
  23. 10051 points, 5 submissions: /u/robis87

    1. 10 years ago today Bitcoin flash crashed from $16 to $0.01 in a matter of minutes (8480 points, 827 comments)
    2. The China FUD to end all FUDs: Why today's Chinese crypto ban No 37 is extremely bullish long-term (535 points, 175 comments)
    3. Paraguay’s Deputy of the Nation Confirms: In July We Legislate Bitcoin (511 points, 115 comments)
    4. Bitcoin Soars Past $40,000 Following Paul Tudor Jones, Musk and Tanzania News (366 points, 168 comments)
    5. Just Follow the Big Money: Whales Purchased 90,000 BTC in 25 Days (159 points, 51 comments)
  24. 9948 points, 1 submission: /u/Figfogey

    1. Coinbase forced me to hold when I was 16 (9948 points, 838 comments)
  25. 9766 points, 1 submission: /u/nipochi

    1. Top 5 Bitcoin Whale Buys an Additional 3,706 BTC @ $33,157.09 - An Hour Ago (9766 points, 1286 comments)
  26. 9717 points, 1 submission: /u/Crypto-Jim33

    1. Binance CEO: You Won't Be Rich Using a Rich Person's Tweets to Trade (9717 points, 815 comments)
  27. 9688 points, 2 submissions: /u/diggipiggi

    1. Around 6% of the U.S. population now uses or owns crypto, and the trend is growing. (9574 points, 838 comments)
    2. From struggling to pay his school fees to now being the co-founder of $10 billion crypto venture Polygon -The story of Jaynti Kanani. (114 points, 17 comments)
  28. 9552 points, 29 submissions: /u/AutoModerator

    1. Daily Discussion - June 22, 2021 (GMT+0) (506 points, 32017 comments)
    2. Daily Discussion - June 21, 2021 (GMT+0) (484 points, 30689 comments)
    3. Daily Discussion - June 8, 2021 (GMT+0) (436 points, 26571 comments)
    4. Daily Discussion - June 28, 2021 (GMT+0) (383 points, 17870 comments)
    5. Daily Discussion - June 29, 2021 (GMT+0) (370 points, 17318 comments)
    6. Daily Discussion - June 10, 2021 (GMT+0) (366 points, 20950 comments)
    7. Daily Discussion - June 23, 2021 (GMT+0) (356 points, 18235 comments)
    8. Daily Discussion - June 18, 2021 (GMT+0) (354 points, 24094 comments)
    9. Daily Discussion - June 27, 2021 (GMT+0) (336 points, 16632 comments)
    10. Daily Discussion - June 30, 2021 (GMT+0) (333 points, 14354 comments)
  29. 9479 points, 3 submissions: /u/Rexon225

    1. El Salvador To Buy an Estimated $135,000,000 Worth of Bitcoin. (7964 points, 995 comments)
    2. I Only Have 5 Bitcoin, Senator Lummis Encourages People to Buy and Hold BTC (1397 points, 358 comments)
    3. Bitcoin Remittances to El Salvador Surge 300% Ahead of BTC Becoming Legal Tender (118 points, 21 comments)
  30. 8860 points, 9 submissions: /u/Accomplished-Design7

    1. Most people wished to buy BTC for 30K when it was 64k. But now that we can we are too sacred. (6404 points, 1282 comments)
    2. If this is your first major dip and you still managed HODLed, then congratulations and pat yourself on the back for not paper handing your cryptos! (688 points, 382 comments)
    3. What is DeFi? (676 points, 181 comments)
    4. My boss thanked me because of crypto and may give me a raise (300 points, 126 comments)
    5. Please don't take a loan to buy crypto (263 points, 194 comments)
    6. "Give a man a steak and he'll eat for a day. Teach a man to stake he eats forever." - Georgeev (197 points, 201 comments)
    7. What is crypto? (143 points, 90 comments)
    8. First Soulja Boy, then Floyd Mayweather now Kim Kardashian, beware of them! (95 points, 100 comments)
    9. If you are in crypto for the long run, please don't forget to STAKE your cryptos! (94 points, 177 comments)
  31. 8269 points, 6 submissions: /u/TonathanJavares

    1. Goldman Sachs becomes first major U.S. bank to begin trading Bitcoin (6151 points, 489 comments)
    2. CEO Of Kraken Breaks Down Why He Stands By His $200K End Of Year Price Target For Bitcoin (1204 points, 319 comments)
    3. Russian billionaire slams Central Bank's crypto policy, says 'Even El Salvador realizes the need for Bitcoin' (315 points, 46 comments)
    4. 650 U.S. banks will soon be able to offer Bitcoin purchases to an estimated 24 million customers (249 points, 66 comments)
    5. Miami Beach's most expensive penthouse just sold in America's largest known cryptocurrency real estate deal (211 points, 85 comments)
    6. Chinese Bitcoin Mining Company Invests $25M In New Facility In Texas (139 points, 64 comments)
  32. 8206 points, 4 submissions: /u/Monster_Chief17

    1. New Bitcoin bull market hodlers are refusing to sell at $40K, data suggests (5871 points, 638 comments)
    2. Whales Now Hold 48.7% of Total Bitcoin Supply After Buying 90,000 BTC Recently: Report (1937 points, 872 comments)
    3. Miami Mayor: Miami Workers to Receive Salaries in Bitcoin — Francis Suarez, the Mayor of Miami, revealed in an interview with Forbes that Miami wants to take Silicon Valley’s place as the friendliest place for BTC in the US. (216 points, 79 comments)
    4. Goldman Sachs Will Offer ETH Options (182 points, 55 comments)
  33. 8065 points, 5 submissions: /u/ethereum88

    1. Sentiment: I’m Hodling on to my Crypto because I can’t see any better option for millennials (6470 points, 1634 comments)
    2. Crypto Lobbyists: Coinbase alone has spent more than $700,000 on government lobbying (747 points, 159 comments)
    3. This could be the No. 1 Reason why Crypto WON'T be banned in US: Lobbying by the cryptocurrency industry (423 points, 132 comments)
    4. It is interesting how media portrays everything to be a “bubble”. According to them, crypto, stocks, housing are all in a bubble right now. What are people supposed to invest in, then? 🧐 (310 points, 382 comments)
    5. Wyckoff’s 2nd Rule: The longer the sideways market, the more explosive and powerful the breakout pump!!! (115 points, 62 comments)
  34. 7785 points, 1 submission: /u/Sciencepoker

    1. Identifying a scammer who has stolen millions (7785 points, 829 comments)

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  17. /u/simca09 (6171 points, 12 comments)
  18. /u/Imaginary-Cow25 (5859 points, 619 comments)
  19. /u/Too_raw90 (5751 points, 195 comments)
  20. /u/48323979853562951413 (5683 points, 183 comments)
  21. /u/RealFilom (5404 points, 333 comments)
  22. /u/ObscureOP (5303 points, 76 comments)
  23. /u/Rexon225 (5164 points, 314 comments)
  24. /u/FlyingDutchmantoMoon (5155 points, 87 comments)
  25. /u/MisterAppelmoesmaker (4958 points, 113 comments)
  26. /u/Logical-Beautiful66 (4880 points, 345 comments)
  27. /u/HugeHungryHippo (4772 points, 20 comments)
  28. /u/Livid_Yam (4760 points, 186 comments)
  29. /u/roymustang261 (4701 points, 160 comments)
  30. /u/Nickel62 (4701 points, 55 comments)
  31. /u/No_Presentation1242 (4692 points, 4 comments)
  32. /u/Accomplished-Design7 (4668 points, 1238 comments)
  33. /u/coinfeeds-bot (4660 points, 246 comments)
  34. /u/robis87 (4636 points, 204 comments)
  35. /u/ControlPotential (4585 points, 168 comments)
  36. /u/Killertimme (4530 points, 137 comments)
  37. /u/forthemotherrussia (4514 points, 194 comments)
  38. /u/jasonluxton (4461 points, 224 comments)
  39. /u/step11234 (4454 points, 116 comments)
  40. /u/primoboi (4380 points, 223 comments)
  41. /u/RFV1985 (4342 points, 5 comments)
  42. /u/deadsho7 (4277 points, 112 comments)
  43. /u/NudgeBucket (4208 points, 433 comments)
  44. /u/Richo32 (4191 points, 7 comments)
  45. /u/turnsyouon22 (4189 points, 26 comments)
  46. /u/Drudgel (3925 points, 215 comments)
  47. /u/Holycameltoeinthesun (3904 points, 16 comments)
  48. /u/Think-notlikedasheep (3763 points, 1023 comments)
  49. /u/M00OSE (3711 points, 239 comments)
  50. /u/CaptainKro0ked (3688 points, 1 comment)
  51. /u/GroundbreakingLack78 (3632 points, 110 comments)
  52. /u/WillingFact (3567 points, 111 comments)
  53. /u/SenatusSPQR (3530 points, 240 comments)
  54. /u/bobloblawTheFirst (3462 points, 282 comments)
  55. /u/av0cad0o (3457 points, 38 comments)
  56. /u/ultron290196 (3447 points, 27 comments)
  57. /u/djOH1 (3421 points, 69 comments)
  58. /u/Tenma_Hito (3355 points, 40 comments)
  59. /u/fluffmunstern (3317 points, 19 comments)
  60. /u/OrganicDroid (3254 points, 18 comments)
  61. /u/IHateElon (3156 points, 108 comments)
  62. /u/Canada_Coins (3122 points, 215 comments)
  63. /u/Cintre (3092 points, 154 comments)
  64. /u/majic2 (3089 points, 304 comments)
  65. /u/fitbhai (3034 points, 448 comments)
  66. /u/NudelXIII (3027 points, 2 comments)
  67. /u/rene7vick (3007 points, 5 comments)
  68. /u/Stock-Helicopter2325 (2975 points, 424 comments)
  69. /u/idevcg (2900 points, 112 comments)
  70. /u/_martinshkreli_ (2887 points, 223 comments)
  71. /u/Success-Relative (2883 points, 230 comments)
  72. /u/urd1n (2831 points, 8 comments)
  73. /u/Eltotsira (2811 points, 106 comments)
  74. /u/MrDopple68 (2802 points, 59 comments)
  75. /u/astockstonk (2770 points, 157 comments)
  76. /u/IHaventEvenGotADog (2754 points, 205 comments)
  77. /u/StunningEstates (2703 points, 5 comments)
  78. /u/MinimumBuddy1844 (2692 points, 62 comments)
  79. /u/-lightfoot (2690 points, 64 comments)
  80. /u/ITSecDuder (2629 points, 1 comment)
  81. /u/TheGiftOf_Jericho (2529 points, 143 comments)
  82. /u/TNGSystems (2528 points, 298 comments)
  83. /u/Jinjar-Ninjar (2522 points, 69 comments)
  84. /u/diarpiiiii (2512 points, 74 comments)
  85. /u/TheWolfAndTheCity (2512 points, 16 comments)
  86. /u/heyheoy (2489 points, 269 comments)
  87. /u/seekret (2488 points, 112 comments)
  88. /u/HeungMinSwan (2483 points, 32 comments)
  89. /u/freakytahz (2471 points, 4 comments)
  90. /u/Xivir (2460 points, 11 comments)
  91. /u/UselessScrapu (2459 points, 161 comments)
  92. /u/InevitableSoundOf (2435 points, 19 comments)
  93. /u/Cilree (2424 points, 29 comments)
  94. /u/roberthonker (2396 points, 133 comments)
  95. /u/reignXsupreme666 (2378 points, 69 comments)
  96. /u/aladdinr (2362 points, 212 comments)
  97. /u/meeleen223 (2361 points, 81 comments)
  98. /u/ACorDC (2351 points, 8 comments)
  99. /u/Dry-Experience-4143 (2350 points, 60 comments)
  100. /u/pmbuttsonly (2339 points, 72 comments)

Top Submissions

  1. John McAfee found dead in prison cell after Spanish high court allows extradition, according to Spanish newspaper El Mundo by /u/DaleGribblesHairline (21620 points, 2918 comments)
  2. I made a post about the scam OpisHub yesterday. The scammers didn't like that and bought downvotes to make my post invisible. So this is an even more detailed post about them. by /u/_martinshkreli_ (20684 points, 625 comments)
  3. Nearly 90% of cryptocurrency investors surveyed say they weren't scared away by May's brutal selloff and are planning to buy more by /u/Taitou_UK (19702 points, 1318 comments)
  4. President of El Salvadore on twitter: No Capital Gains taxes to be paid for Bitcoin, and Permanent Residence (greencards) will be granted for crypto entrepeneurs! by /u/sgtslaughterTV (18709 points, 2019 comments)
  5. Pornhub just saved a lot of my crypto by /u/ObscureOP (18622 points, 1862 comments)
  6. Elon Musk is Losing his Power over the Crypto Community as more People tend to ignore him by /u/Dwez1337 (18519 points, 1881 comments)
  7. The President of El Salvador just announced that he is making Bitcoin legal tender in his country. by /u/ControlPotential (18189 points, 1742 comments)
  8. Kevin O’Leary, Shark Tank host : “I don’t care if it goes down $20,000 or up $20,000. I’m not selling it. One bitcoin is one bitcoin. I’m in it for the long run.” "Nothing Will Replace Bitcoin". by /u/eggnoggman (17191 points, 1221 comments)
  9. Introduced my friend to Crypto, Now he wont speak to me. by /u/HeungMinSwan (15808 points, 2739 comments)
  10. Iran president said that he wants to legalize cryptocurrencies “as soon as possible” by /u/adamdmn (14332 points, 1371 comments)

Top Comments

  1. 6093 points: /u/simca09's comment in I (24F) feel like a bad b*tch compared to my boyfriend
  2. 5951 points: /u/thelovetoy's comment in You need at least 3 bull markets to get rich
  3. 5173 points: /u/Sacmo77's comment in Introduced my friend to Crypto, Now he wont speak to me.
  4. 4744 points: /u/HugeHungryHippo's comment in Elon Musk is Losing his Power over the Crypto Community as more People tend to ignore him
  5. 4704 points: /u/ObscureOP's comment in Pornhub just saved a lot of my crypto
  6. 4650 points: /u/FlyingDutchmantoMoon's comment in I work in a Bank, they forbid us from buying crypto and even talking about it in social networks
  7. 4291 points: /u/RFV1985's comment in John McAfee found dead in prison cell after Spanish high court allows extradition, according to Spanish newspaper El Mundo
  8. 4081 points: /u/Richo32's comment in Introduced my friend to Crypto, Now he wont speak to me.
  9. 3944 points: /u/48323979853562951413's comment in Inflation is getting serious.
  10. 3786 points: /u/Holycameltoeinthesun's comment in Pornhub just saved a lot of my crypto

Generated with BBoe's Subreddit Stats


Submission to Senate

Last month we made a second submission to the 'Select Committee on Australia as a Technology and Financial Centre'.

We have made 5 key recommendations in hope of affecting a positive change.

"Banks have the ability to freeze accounts instantly, shut them down with little notice and even ban customers from using their services ever again."

Key Recommendation #1: Acknowledge that in the current monetary environment, banking is an essential utility

"El Salvador passed the ‘Bitcoin Law’... The effect this will have on the economy of El Salvador and particularly on its unbanked citizens is profound. It is expected that other countries will soon follow suit."

Key Recommendation #2: Recognise Bitcoin as a foreign currency

"UK.. exempts gains... on foreign currencies. Not so in Australia... If one buys USD.. but then later exchanges.. back to AUD, this becomes a taxable event."

Key Recommendation #3: Change taxation laws so that capital gains on foreign currencies are not taxable

"Recently, Canada cleared the way for the launch of the world’s first Bitcoin Exchange Traded Fund (ETF)."

Key Recommendation #4: Clear the way so a Bitcoin Exchange Traded Fund (ETF) could be launched domestically

"Proposed ‘Travel Rule’ legislation.. we believe to be individuals’ breach of privacy"

Key Recommendation #5: Postpone any discussion around the proposed ‘Travel Rule’ ... and if eventually implementing this rule, elect for the lightest touch possible that FATF will allow

---

Read the entire submission by clicking here: https://www.aph.gov.au/DocumentStore.ashx?id=59e0a26e-cf38-4c0e-9dcd-0b9d9d223dc9

Read our previous submission by clicking here: https://www.aph.gov.au/DocumentStore.ashx?id=22af14ab-cd8e-48d3-9b6b-dddb39b9453b&subId=699732

---

Many thanks to the team that wrote, edited, proofread and debated (hard!) to make these submissions a reality. Team work makes the dream work 🤜🤛


💰[$SuckitElon]💸 $SIE | New website release and Presale launching soon! 🤬 Are you tired of Elon Musk playing with everybody else's money? 🤡| 1 BNB giveaway everyday | Huge marketing budget $$$

$SuckItElon is a fully decentralized token that has the purpose of giving visibility to everyone that has seen themselves affected by this kind of market manipulation.

Due to all the recent events of Elon's tweets and unjustified changes of opinion about bitcoin just to take the market down, from the $SIE team we have decided to launch a project that takes this to an end.

$SIE Represents the next generation of meme coins providing both incentives for holding as dividends (get more tokens just by holding) and automatic Anti Pump and Dump mechanisms through the `BuyBack´ function plus a huge marketing budget.

🔒💥 Liquidity Locked 9 Years💥🔒

💹✅ Trustworthy Token 100% Community Driven ✅💹

📅📈 CoinMarketCap and CoinGeko Listings Incoming soon 📈📅

💸Tokenomics💸:

· 5% Buy Back 🐉

· 2% Reward for holders 🎁

· 4% Marketing 🚀

· 1% Team 💼

What is the `BuyBack´ function?

📈📈Each time a sell transaction occurs, the contract buys those tokens automatically and sends them to the burn address. So there is no dump in the price resulting in a stable and hyper-deflationary token📈📈

The marketing budget is $23,550☄️

  • WellKnown Crypto-Youtubers 🎥
  • +1m instagram accounts 📸
  • +500k twitter accounts 💻
  • 135 $/day in Google ads (for our website) 🖥
  • Massive Giveaways 🎁
  • 1 BNB in Gifts per day to our holders to promote and support us during pre-sale 💸

WHEN WILL WE ANNOUNCE THE MASSIVE GIVEAWAY? 🔥💰

When the pre-sale starts you can participate in our massive giveaway. We will post all the information you need, you just have to check our Instagram account (Also we have a telegram account for you to get in touch with us) and when the pre-sale is over you can be one of the 5 winners of this massive giveaway!!

1 BNB IN GIFTS EVERY 24 HOURS!!!! 🎁 🎉

The first week that we are live in PancakeSwap we will be giving away 1 BNB PER DAY worth of tokens coming from the marketing wallet. In order to win, you will need to help grow the community by being active in Telegram, Instagram and help shilling in Reddit. Don't miss this chance out!!!! 🔥💸

Token Allocation:

2% Devs

5% Marketing

30% Presale

63% PancakeSwap

Follow this links to get more info of us and stay in touch with the developers!!

Telegram link: https://t.me/joinchat/yseRkDD1yMc5YzQ8

Instagram: https://www.instagram.com/suckitelon.defi/

Website: https://www.suckitelon.xyz

🔥 ⏳Presale Launching This Wednesday July 7th ⏳🔥


💰[$SuckitElon]💸 $SIE | New website release and Presale launching soon! 🤬 Are you tired of Elon Musk playing with everybody else's money? 🤡| 1 BNB giveaway everyday | Huge marketing budget $$$

$SuckItElon is a fully decentralized token that has the purpose of giving visibility to everyone that has seen themselves affected by this kind of market manipulation.

Due to all the recent events of Elon's tweets and unjustified changes of opinion about bitcoin just to take the market down, from the $SIE team we have decided to launch a project that takes this to an end.

$SIE Represents the next generation of meme coins providing both incentives for holding as dividends (get more tokens just by holding) and automatic Anti Pump and Dump mechanisms through the `BuyBack´ function plus a huge marketing budget.

🔒💥 Liquidity Locked 9 Years💥🔒

💹✅ Trustworthy Token 100% Community Driven ✅💹

📅📈 CoinMarketCap and CoinGeko Listings Incoming soon 📈📅

💸Tokenomics💸:

· 5% Buy Back 🐉

· 2% Reward for holders 🎁

· 4% Marketing 🚀

· 1% Team 💼

What is the `BuyBack´ function?

📈📈Each time a sell transaction occurs, the contract buys those tokens automatically and sends them to the burn address. So there is no dump in the price resulting in a stable and hyper-deflationary token📈📈

The marketing budget is $23,550☄️

  • WellKnown Crypto-Youtubers 🎥
  • +1m instagram accounts 📸
  • +500k twitter accounts 💻
  • 135 $/day in Google ads (for our website) 🖥
  • Massive Giveaways 🎁
  • 1 BNB in Gifts per day to our holders to promote and support us during pre-sale 💸

WHEN WILL WE ANNOUNCE THE MASSIVE GIVEAWAY? 🔥💰

When the pre-sale starts you can participate in our massive giveaway. We will post all the information you need, you just have to check our Instagram account (Also we have a telegram account for you to get in touch with us) and when the pre-sale is over you can be one of the 5 winners of this massive giveaway!!

1 BNB IN GIFTS EVERY 24 HOURS!!!! 🎁 🎉

The first week that we are live in PancakeSwap we will be giving away 1 BNB PER DAY worth of tokens coming from the marketing wallet. In order to win, you will need to help grow the community by being active in Telegram, Instagram and help shilling in Reddit. Don't miss this chance out!!!! 🔥💸

Token Allocation:

2% Devs

5% Marketing

30% Presale

63% PancakeSwap

Follow this links to get more info of us and stay in touch with the developers!!

Telegram link: https://t.me/joinchat/yseRkDD1yMc5YzQ8

Instagram: https://www.instagram.com/suckitelon.defi/

Website: https://www.suckitelon.xyz

🔥 ⏳Presale Launching This Wednesday July 7th ⏳🔥


💰[$SuckitElon]💸 $SIE | New website release and Presale launching soon! 🤬 Are you tired of Elon Musk playing with everybody else's money? 🤡| 1 BNB giveaway everyday | Huge marketing budget $$$

$SuckItElon is a fully decentralized token that has the purpose of giving visibility to everyone that has seen themselves affected by this kind of market manipulation.

Due to all the recent events of Elon's tweets and unjustified changes of opinion about bitcoin just to take the market down, from the $SIE team we have decided to launch a project that takes this to an end.

$SIE Represents the next generation of meme coins providing both incentives for holding as dividends (get more tokens just by holding) and automatic Anti Pump and Dump mechanisms through the `BuyBack´ function plus a huge marketing budget.

🔒💥 Liquidity Locked 9 Years💥🔒

💹✅ Trustworthy Token 100% Community Driven ✅💹

📅📈 CoinMarketCap and CoinGeko Listings Incoming soon 📈📅

💸Tokenomics💸:

· 5% Buy Back 🐉

· 2% Reward for holders 🎁

· 4% Marketing 🚀

· 1% Team 💼

What is the `BuyBack´ function?

📈📈Each time a sell transaction occurs, the contract buys those tokens automatically and sends them to the burn address. So there is no dump in the price resulting in a stable and hyper-deflationary token📈📈

The marketing budget is $23,550☄️

  • WellKnown Crypto-Youtubers 🎥
  • +1m instagram accounts 📸
  • +500k twitter accounts 💻
  • 135 $/day in Google ads (for our website) 🖥
  • Massive Giveaways 🎁
  • 1 BNB in Gifts per day to our holders to promote and support us during pre-sale 💸

WHEN WILL WE ANNOUNCE THE MASSIVE GIVEAWAY? 🔥💰

When the pre-sale starts you can participate in our massive giveaway. We will post all the information you need, you just have to check our Instagram account (Also we have a telegram account for you to get in touch with us) and when the pre-sale is over you can be one of the 5 winners of this massive giveaway!!

1 BNB IN GIFTS EVERY 24 HOURS!!!! 🎁 🎉

The first week that we are live in PancakeSwap we will be giving away 1 BNB PER DAY worth of tokens coming from the marketing wallet. In order to win, you will need to help grow the community by being active in Telegram, Instagram and help shilling in Reddit. Don't miss this chance out!!!! 🔥💸

Token Allocation:

2% Devs

5% Marketing

30% Presale

63% PancakeSwap

Follow this links to get more info of us and stay in touch with the developers!!

Telegram link: https://t.me/joinchat/yseRkDD1yMc5YzQ8

Instagram: https://www.instagram.com/suckitelon.defi/

Website: https://www.suckitelon.xyz

🔥 ⏳Presale Launching This Wednesday July 7th ⏳🔥


💰[$SuckitElon]💸 $SIE | New website release and Presale launching soon! 🤬 Are you tired of Elon Musk playing with everybody else's money? 🤡| 1 BNB giveaway everyday | Huge marketing budget $$$

$SuckItElon is a fully decentralized token that has the purpose of giving visibility to everyone that has seen themselves affected by this kind of market manipulation.

Due to all the recent events of Elon's tweets and unjustified changes of opinion about bitcoin just to take the market down, from the $SIE team we have decided to launch a project that takes this to an end.

$SIE Represents the next generation of meme coins providing both incentives for holding as dividends (get more tokens just by holding) and automatic Anti Pump and Dump mechanisms through the `BuyBack´ function plus a huge marketing budget.

🔒💥 Liquidity Locked 9 Years💥🔒

💹✅ Trustworthy Token 100% Community Driven ✅💹

📅📈 CoinMarketCap and CoinGeko Listings Incoming soon 📈📅

💸Tokenomics💸:

· 5% Buy Back 🐉

· 2% Reward for holders 🎁

· 4% Marketing 🚀

· 1% Team 💼

What is the `BuyBack´ function?

📈📈Each time a sell transaction occurs, the contract buys those tokens automatically and sends them to the burn address. So there is no dump in the price resulting in a stable and hyper-deflationary token📈📈

The marketing budget is $23,550☄️

  • WellKnown Crypto-Youtubers 🎥
  • +1m instagram accounts 📸
  • +500k twitter accounts 💻
  • 135 $/day in Google ads (for our website) 🖥
  • Massive Giveaways 🎁
  • 1 BNB in Gifts per day to our holders to promote and support us during pre-sale 💸

WHEN WILL WE ANNOUNCE THE MASSIVE GIVEAWAY? 🔥💰

When the pre-sale starts you can participate in our massive giveaway. We will post all the information you need, you just have to check our Instagram account (Also we have a telegram account for you to get in touch with us) and when the pre-sale is over you can be one of the 5 winners of this massive giveaway!!

1 BNB IN GIFTS EVERY 24 HOURS!!!! 🎁 🎉

The first week that we are live in PancakeSwap we will be giving away 1 BNB PER DAY worth of tokens coming from the marketing wallet. In order to win, you will need to help grow the community by being active in Telegram, Instagram and help shilling in Reddit. Don't miss this chance out!!!! 🔥💸

Token Allocation:

2% Devs

5% Marketing

30% Presale

63% PancakeSwap

Follow this links to get more info of us and stay in touch with the developers!!

Telegram link: https://t.me/joinchat/yseRkDD1yMc5YzQ8

Instagram: https://www.instagram.com/suckitelon.defi/

Website: https://www.suckitelon.xyz

🔥 ⏳Presale Launching This Wednesday July 7th ⏳🔥


💰[$SuckitElon]💸 $SIE | New website release and Presale launching soon! 🤬 Are you tired of Elon Musk playing with everybody else's money? 🤡| 1 BNB giveaway everyday | Huge marketing budget $$$

$SuckItElon is a fully decentralized token that has the purpose of giving visibility to everyone that has seen themselves affected by this kind of market manipulation.

Due to all the recent events of Elon's tweets and unjustified changes of opinion about bitcoin just to take the market down, from the $SIE team we have decided to launch a project that takes this to an end.

$SIE Represents the next generation of meme coins providing both incentives for holding as dividends (get more tokens just by holding) and automatic Anti Pump and Dump mechanisms through the `BuyBack´ function plus a huge marketing budget.

🔒💥 Liquidity Locked 9 Years💥🔒

💹✅ Trustworthy Token 100% Community Driven ✅💹

📅📈 CoinMarketCap and CoinGeko Listings Incoming soon 📈📅

💸Tokenomics💸:

· 5% Buy Back 🐉

· 2% Reward for holders 🎁

· 4% Marketing 🚀

· 1% Team 💼

What is the `BuyBack´ function?

📈📈Each time a sell transaction occurs, the contract buys those tokens automatically and sends them to the burn address. So there is no dump in the price resulting in a stable and hyper-deflationary token📈📈

The marketing budget is $23,550☄️

  • WellKnown Crypto-Youtubers 🎥
  • +1m instagram accounts 📸
  • +500k twitter accounts 💻
  • 135 $/day in Google ads (for our website) 🖥
  • Massive Giveaways 🎁
  • 1 BNB in Gifts per day to our holders to promote and support us during pre-sale 💸

WHEN WILL WE ANNOUNCE THE MASSIVE GIVEAWAY? 🔥💰

When the pre-sale starts you can participate in our massive giveaway. We will post all the information you need, you just have to check our Instagram account (Also we have a telegram account for you to get in touch with us) and when the pre-sale is over you can be one of the 5 winners of this massive giveaway!!

1 BNB IN GIFTS EVERY 24 HOURS!!!! 🎁 🎉

The first week that we are live in PancakeSwap we will be giving away 1 BNB PER DAY worth of tokens coming from the marketing wallet. In order to win, you will need to help grow the community by being active in Telegram, Instagram and help shilling in Reddit. Don't miss this chance out!!!! 🔥💸

Token Allocation:

2% Devs

5% Marketing

30% Presale

63% PancakeSwap

Follow this links to get more info of us and stay in touch with the developers!!

Telegram link: https://t.me/joinchat/yseRkDD1yMc5YzQ8

Instagram: https://www.instagram.com/suckitelon.defi/

Website: https://www.suckitelon.xyz

🔥 ⏳Presale Launching This Wednesday July 7th ⏳🔥


💰[$SuckitElon]💸 $SIE | New website release and Presale launching soon! 🤬 Are you tired of Elon Musk playing with everybody else's money? 🤡| 1 BNB giveaway everyday | Huge marketing budget $$$

$SuckItElon is a fully decentralized token that has the purpose of giving visibility to everyone that has seen themselves affected by this kind of market manipulation.

Due to all the recent events of Elon's tweets and unjustified changes of opinion about bitcoin just to take the market down, from the $SIE team we have decided to launch a project that takes this to an end.

$SIE Represents the next generation of meme coins providing both incentives for holding as dividends (get more tokens just by holding) and automatic Anti Pump and Dump mechanisms through the `BuyBack´ function plus a huge marketing budget.

🔒💥 Liquidity Locked 9 Years💥🔒

💹✅ Trustworthy Token 100% Community Driven ✅💹

📅📈 CoinMarketCap and CoinGeko Listings Incoming soon 📈📅

💸Tokenomics💸:

· 5% Buy Back 🐉

· 2% Reward for holders 🎁

· 4% Marketing 🚀

· 1% Team 💼

What is the `BuyBack´ function?

📈📈Each time a sell transaction occurs, the contract buys those tokens automatically and sends them to the burn address. So there is no dump in the price resulting in a stable and hyper-deflationary token📈📈

The marketing budget is $23,550☄️

  • WellKnown Crypto-Youtubers 🎥
  • +1m instagram accounts 📸
  • +500k twitter accounts 💻
  • 135 $/day in Google ads (for our website) 🖥
  • Massive Giveaways 🎁
  • 1 BNB in Gifts per day to our holders to promote and support us during pre-sale 💸

WHEN WILL WE ANNOUNCE THE MASSIVE GIVEAWAY? 🔥💰

When the pre-sale starts you can participate in our massive giveaway. We will post all the information you need, you just have to check our Instagram account (Also we have a telegram account for you to get in touch with us) and when the pre-sale is over you can be one of the 5 winners of this massive giveaway!!

1 BNB IN GIFTS EVERY 24 HOURS!!!! 🎁 🎉

The first week that we are live in PancakeSwap we will be giving away 1 BNB PER DAY worth of tokens coming from the marketing wallet. In order to win, you will need to help grow the community by being active in Telegram, Instagram and help shilling in Reddit. Don't miss this chance out!!!! 🔥💸

Token Allocation:

2% Devs

5% Marketing

30% Presale

63% PancakeSwap

Follow this links to get more info of us and stay in touch with the developers!!

Telegram link: https://t.me/joinchat/yseRkDD1yMc5YzQ8

Instagram: https://www.instagram.com/suckitelon.defi/

Website: https://www.suckitelon.xyz

🔥 ⏳Presale Launching This Wednesday July 7th ⏳🔥


💰[$SuckitElon]💸 $SIE | New website release and Presale launching soon! 🤬 Are you tired of Elon Musk playing with everybody else's money? 🤡| 1 BNB giveaway everyday | Huge marketing budget $$$

$SuckItElon is a fully decentralized token that has the purpose of giving visibility to everyone that has seen themselves affected by this kind of market manipulation.

Due to all the recent events of Elon's tweets and unjustified changes of opinion about bitcoin just to take the market down, from the $SIE team we have decided to launch a project that takes this to an end.

$SIE Represents the next generation of meme coins providing both incentives for holding as dividends (get more tokens just by holding) and automatic Anti Pump and Dump mechanisms through the `BuyBack´ function plus a huge marketing budget.

🔒💥 Liquidity Locked 9 Years💥🔒

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📅📈 CoinMarketCap and CoinGeko Listings Incoming soon 📈📅

💸Tokenomics💸:

· 5% Buy Back 🐉

· 2% Reward for holders 🎁

· 4% Marketing 🚀

· 1% Team 💼

What is the `BuyBack´ function?

📈📈Each time a sell transaction occurs, the contract buys those tokens automatically and sends them to the burn address. So there is no dump in the price resulting in a stable and hyper-deflationary token📈📈

The marketing budget is $23,550☄️

  • WellKnown Crypto-Youtubers 🎥
  • +1m instagram accounts 📸
  • +500k twitter accounts 💻
  • 135 $/day in Google ads (for our website) 🖥
  • Massive Giveaways 🎁
  • 1 BNB in Gifts per day to our holders to promote and support us during pre-sale 💸

WHEN WILL WE ANNOUNCE THE MASSIVE GIVEAWAY? 🔥💰

When the pre-sale starts you can participate in our massive giveaway. We will post all the information you need, you just have to check our Instagram account (Also we have a telegram account for you to get in touch with us) and when the pre-sale is over you can be one of the 5 winners of this massive giveaway!!

1 BNB IN GIFTS EVERY 24 HOURS!!!! 🎁 🎉

The first week that we are live in PancakeSwap we will be giving away 1 BNB PER DAY worth of tokens coming from the marketing wallet. In order to win, you will need to help grow the community by being active in Telegram, Instagram and help shilling in Reddit. Don't miss this chance out!!!! 🔥💸

Token Allocation:

2% Devs

5% Marketing

30% Presale

63% PancakeSwap

Follow this links to get more info of us and stay in touch with the developers!!

Telegram link: https://t.me/joinchat/yseRkDD1yMc5YzQ8

Instagram: https://www.instagram.com/suckitelon.defi/

Website: https://www.suckitelon.xyz

🔥 ⏳Presale Launching This Wednesday July 7th ⏳🔥


💰[$SuckitElon]💸 $SIE | New website release and Presale launching soon! 🤬 Are you tired of Elon Musk playing with everybody else's money? 🤡| 1 BNB giveaway everyday | Huge marketing budget $$$

$SuckItElon is a fully decentralized token that has the purpose of giving visibility to everyone that has seen themselves affected by this kind of market manipulation.

Due to all the recent events of Elon's tweets and unjustified changes of opinion about bitcoin just to take the market down, from the $SIE team we have decided to launch a project that takes this to an end.

$SIE Represents the next generation of meme coins providing both incentives for holding as dividends (get more tokens just by holding) and automatic Anti Pump and Dump mechanisms through the `BuyBack´ function plus a huge marketing budget.

🔒💥 Liquidity Locked 9 Years💥🔒

💹✅ Trustworthy Token 100% Community Driven ✅💹

📅📈 CoinMarketCap and CoinGeko Listings Incoming soon 📈📅

💸Tokenomics💸:

· 5% Buy Back 🐉

· 2% Reward for holders 🎁

· 4% Marketing 🚀

· 1% Team 💼

What is the `BuyBack´ function?

📈📈Each time a sell transaction occurs, the contract buys those tokens automatically and sends them to the burn address. So there is no dump in the price resulting in a stable and hyper-deflationary token📈📈

The marketing budget is $23,550☄️

  • WellKnown Crypto-Youtubers 🎥
  • +1m instagram accounts 📸
  • +500k twitter accounts 💻
  • 135 $/day in Google ads (for our website) 🖥
  • Massive Giveaways 🎁
  • 1 BNB in Gifts per day to our holders to promote and support us during pre-sale 💸

WHEN WILL WE ANNOUNCE THE MASSIVE GIVEAWAY? 🔥💰

When the pre-sale starts you can participate in our massive giveaway. We will post all the information you need, you just have to check our Instagram account (Also we have a telegram account for you to get in touch with us) and when the pre-sale is over you can be one of the 5 winners of this massive giveaway!!

1 BNB IN GIFTS EVERY 24 HOURS!!!! 🎁 🎉

The first week that we are live in PancakeSwap we will be giving away 1 BNB PER DAY worth of tokens coming from the marketing wallet. In order to win, you will need to help grow the community by being active in Telegram, Instagram and help shilling in Reddit. Don't miss this chance out!!!! 🔥💸

Token Allocation:

2% Devs

5% Marketing

30% Presale

63% PancakeSwap

Follow this links to get more info of us and stay in touch with the developers!!

Telegram link: https://t.me/joinchat/yseRkDD1yMc5YzQ8

Instagram: https://www.instagram.com/suckitelon.defi/

Website: https://www.suckitelon.xyz

🔥 ⏳Presale Launching This Wednesday July 7th ⏳🔥


💰[$SuckitElon]💸 $SIE | New website release and Presale launching soon! 🤬 Are you tired of Elon Musk playing with everybody else's money? 🤡| 1 BNB giveaway everyday | Huge marketing budget $$$

$SuckItElon is a fully decentralized token that has the purpose of giving visibility to everyone that has seen themselves affected by this kind of market manipulation.

Due to all the recent events of Elon's tweets and unjustified changes of opinion about bitcoin just to take the market down, from the $SIE team we have decided to launch a project that takes this to an end.

$SIE Represents the next generation of meme coins providing both incentives for holding as dividends (get more tokens just by holding) and automatic Anti Pump and Dump mechanisms through the `BuyBack´ function plus a huge marketing budget.

🔒💥 Liquidity Locked 9 Years💥🔒

💹✅ Trustworthy Token 100% Community Driven ✅💹

📅📈 CoinMarketCap and CoinGeko Listings Incoming soon 📈📅

💸Tokenomics💸:

· 5% Buy Back 🐉

· 2% Reward for holders 🎁

· 4% Marketing 🚀

· 1% Team 💼

What is the `BuyBack´ function?

📈📈Each time a sell transaction occurs, the contract buys those tokens automatically and sends them to the burn address. So there is no dump in the price resulting in a stable and hyper-deflationary token📈📈

The marketing budget is $23,550☄️

  • WellKnown Crypto-Youtubers 🎥
  • +1m instagram accounts 📸
  • +500k twitter accounts 💻
  • 135 $/day in Google ads (for our website) 🖥
  • Massive Giveaways 🎁
  • 1 BNB in Gifts per day to our holders to promote and support us during pre-sale 💸

WHEN WILL WE ANNOUNCE THE MASSIVE GIVEAWAY? 🔥💰

When the pre-sale starts you can participate in our massive giveaway. We will post all the information you need, you just have to check our Instagram account (Also we have a telegram account for you to get in touch with us) and when the pre-sale is over you can be one of the 5 winners of this massive giveaway!!

1 BNB IN GIFTS EVERY 24 HOURS!!!! 🎁 🎉

The first week that we are live in PancakeSwap we will be giving away 1 BNB PER DAY worth of tokens coming from the marketing wallet. In order to win, you will need to help grow the community by being active in Telegram, Instagram and help shilling in Reddit. Don't miss this chance out!!!! 🔥💸

Token Allocation:

2% Devs

5% Marketing

30% Presale

63% PancakeSwap

Follow this links to get more info of us and stay in touch with the developers!!

Telegram link: https://t.me/joinchat/yseRkDD1yMc5YzQ8

Instagram: https://www.instagram.com/suckitelon.defi/

Website: https://www.suckitelon.xyz

🔥 ⏳Presale Launching This Wednesday July 7th ⏳🔥


💰[$SuckitElon]💸 $SIE | New website release and Presale launching soon! 🤬 Are you tired of Elon Musk playing with everybody else's money? 🤡| 1 BNB giveaway everyday | Huge marketing budget $$$

$SuckItElon is a fully decentralized token that has the purpose of giving visibility to everyone that has seen themselves affected by this kind of market manipulation.

Due to all the recent events of Elon's tweets and unjustified changes of opinion about bitcoin just to take the market down, from the $SIE team we have decided to launch a project that takes this to an end.

$SIE Represents the next generation of meme coins providing both incentives for holding as dividends (get more tokens just by holding) and automatic Anti Pump and Dump mechanisms through the `BuyBack´ function plus a huge marketing budget.

🔒💥 Liquidity Locked 9 Years💥🔒

💹✅ Trustworthy Token 100% Community Driven ✅💹

📅📈 CoinMarketCap and CoinGeko Listings Incoming soon 📈📅

💸Tokenomics💸:

· 5% Buy Back 🐉

· 2% Reward for holders 🎁

· 4% Marketing 🚀

· 1% Team 💼

What is the `BuyBack´ function?

📈📈Each time a sell transaction occurs, the contract buys those tokens automatically and sends them to the burn address. So there is no dump in the price resulting in a stable and hyper-deflationary token📈📈

The marketing budget is $23,550☄️

  • WellKnown Crypto-Youtubers 🎥
  • +1m instagram accounts 📸
  • +500k twitter accounts 💻
  • 135 $/day in Google ads (for our website) 🖥
  • Massive Giveaways 🎁
  • 1 BNB in Gifts per day to our holders to promote and support us during pre-sale 💸

WHEN WILL WE ANNOUNCE THE MASSIVE GIVEAWAY? 🔥💰

When the pre-sale starts you can participate in our massive giveaway. We will post all the information you need, you just have to check our Instagram account (Also we have a telegram account for you to get in touch with us) and when the pre-sale is over you can be one of the 5 winners of this massive giveaway!!

1 BNB IN GIFTS EVERY 24 HOURS!!!! 🎁 🎉

The first week that we are live in PancakeSwap we will be giving away 1 BNB PER DAY worth of tokens coming from the marketing wallet. In order to win, you will need to help grow the community by being active in Telegram, Instagram and help shilling in Reddit. Don't miss this chance out!!!! 🔥💸

Token Allocation:

2% Devs

5% Marketing

30% Presale

63% PancakeSwap

Follow this links to get more info of us and stay in touch with the developers!!

Telegram link: https://t.me/joinchat/yseRkDD1yMc5YzQ8

Instagram: https://www.instagram.com/suckitelon.defi/

Website: https://www.suckitelon.xyz

🔥 ⏳Presale Launching This Wednesday July 7th ⏳🔥


FIRE Portfolio Income Update – Half-Year to June 30, 2021

Because things are the way they are, they will not stay the way they are.

-Berthold Brecht

Twice a year I prepare a summary of total income from my portfolio. This is my tenth portfolio income update since starting this record. As part of the transparency and accountability of this journey, I regularly report this income.

My goal is to build up a portfolio capable of providing a passive income of around $90,500 by July 2022 (Portfolio Goal).

Portfolio income summary

Investment Amount

  • Vanguard Lifestrategy High Growth (retail fund) $66,713

  • Vanguard Lifestrategy Growth (retail fund) $3,627

  • Vanguard Lifestrategy Balanced (retail fund) $5,758

  • Vanguard Diversified Bonds (retail fund) $5,909

  • Vanguard Australian Shares ETF (VAS) $4,645

  • Vanguard International Shares ETF (VGS) $2,024

  • Betashares Australia 200 ETF (A200) $3,394

  • Telstra shares (TLS.ASX) $43

  • Insurance Australia Group shares (IAG.ASX) $89

  • NIB Holding shares (NHF.ASX) $120

  • Plenti/Ratesetter (P2P lending) (estimated) $150

  • Raiz app (Aggressive portfolio) $210

  • Spaceship Voyager app (Index portfolio) $0

  • BrickX (P2P rental real estate) $42

Total Portfolio Income – Half-Year to June 30, 2021 $92,724

The chart below sets out the income or distributions received on a half-yearly basis from the financial independence portfolio over the past five and a half years.

[Chart]

The following pie chart is a breakdown of the percentage contribution of each major investment in the portfolio to the total half-yearly distributions.

[Chart]

Comments

The total distributions from the portfolio over this half-year was $92,724, or the equivalent of $15,400 per month over the past six months.

This is an unprecedentedly high set of portfolio distributions. It is nearly double the previous highest distributions of any June half-year period.

The distributions exceeded my best forecasts by a substantial margin. They simply look, at first glance, different in kind to any past set of June distributions. In fact, I spent several days confirming by different means their level, to be sure that a mathematical error had not been made.

In the May portfolio update an estimate using median payouts for the exchange traded funds, and the past five years of average Vanguard retail funds led to a forecast of around $52,000 for the half-year period. This forecast took into account the actual March quarter payout of $10,000 and projected June quarter payouts of around $42,000.

This once again demonstrates the unreliability of most forecasting approaches over a single year. It is also not the first time that distributions have surprised significantly to the upside.

One of the facts that is interesting for context of these results is that although the absolute amount of increase in this June payout is unprecedented, of itself a doubling of June half-year income from one to the next year is not. The same occurred in June 2017, and a near doubling of previous results also took place in June 2016.

Assessing the contribution of June quarter results to half-year outcome

These portfolio income updates have typically a half-year focus, historically aligning to major distribution payout schedules of the Vanguard retail funds that formed the majority of the portfolio.

Over time, however, a growing exposure to exchange traded funds with quarterly payouts has led to more documenting of quarterly data, including for the purposes of (imperfectly) seeking to project future portfolio income.

This more detailed analysis is quite useful in the current case, because it helps illustrate that the half-year income is the principally the result of a two factors – a high one-off Vanguard Diversified Bond fund distribution in the first quarter, matched with an unusually high distribution from the Vanguard High Growth retail fund this past quarter.

This latter factor is evident from the chart below comparing June quarters over the past five years.

[Chart]

Together these two events caused portfolio income in the last financial year to slightly exceed my target portfolio income of $90,500 per year.

Long-term trends in levels of portfolio income: 1999-2021

The close of the financial year provides an opportunity to set the recent distributions in the context of a longer-time series of portfolio income measured over the financial independence journey to date.

The past financial year distributions were $135,936 or around $11,300 per month. This is nearly double the portfolio income of the next higher financial year (of 2017-18).

The chart below provides an updated history of total portfolio distributions in nominal dollars, with the green bars indicating the period covered by this record.

The average portfolio level through the relevant financial year is also given (see red dotted line).

[Chart]

This chart shows quite clearly that:

  • The level of distributions is generally linked to portfolio size, but with some marked deviations – Generally portfolio size is the obvious primary driver of the absolute level of distributions, but there are periods of significant divergence where the relationship is weaker and looser (with the two years from July 2018 to July 2020 being examples)

  • Compounding effects in the latter part of the journey are strong – In fact, the line of best fit for both the total level of distributions and the portfolio itself is an exponential function.

For simplicity the graph above tracks nominal dollars and so mildly overstates the ‘real’ value of recent distributions and portfolio values compared to earlier values. This has the effect of slightly exaggerating the relative significance of recent progress.

Even so, this is only a marginal effect compared to the dominating compounding process at work. For example, even calculated in real constant 2019 dollars, over half of total portfolio income has been generated in just the past four financial years. In nominal dollar terms, over three-quarters of total portfolio income has come in the last eight years.

In a portfolio income update a year ago I observed that the past four years appeared to have established a new normal operating range for portfolio distributions, with most observations falling within the range of $50,000 to $70,000. This finding appears to be weakened by the past financial year results.

The question is the extent to which this much higher level recorded is a temporary outlier, compared to past results. It’s a question that might become clearer looking at the composition of the distributions and the distribution rate of the portfolio.

Composition of the portfolio distributions: reversing course

Since around June 2018 all new investments have been made in n exchange traded funds – specifically, A200, VAS and, more recently, VGS. Over time this was expected to mean that their distributions would gradually rise in relative terms, compared to the legacy Vanguard retail funds that constituted almost the entirety of the earlier FIRE portfolio.

This process was slowly proceeding from mid-2018, and non-Vanguard distributions even made up the majority of distributions in the second half of 2019. Yet since that time there has been a strong reversal.

This half-year, consistent with the past 18 months, distributions from the Vanguard Diversified High Growth retail fund have once again become the key driver of the level of payments.

This can be be seen in this chart below, which sets out the level of, and changes in, major components of portfolio distributions over the past two decades. The extraordinarily strong distributions have led to a need to change the scale of the axis.

[Chart]

As with previous periods, the single largest contribution to sustained high distributions is the distribution from the Vanguard High Growth fund (teal), which has skyrocketed to around double the previous highest level.

Changing the axis to recognise this strong performance has had the unfortunate effect of making the continued modest and uneven growth of distributions from both the VAS (purple) and A200 (blue) exchange traded funds from June 2018 onwards look relatively insignificant by comparison.

The three exchange traded funds (VAS, VGS and A200) have generally produced distributions at, or just below, their average levels over the past half-year. In contrast, the three out of the four legacy retail Vanguard funds experienced distributions at the highest level ever recorded, as can also be seen from the chart below.

[Chart]

The results this half-year also clearly continue the trend for increasing end of financial year payment, year over year. This means that if future distributions are estimated on the median or average of past ‘cents per unit’ payouts over the longer-term they will systematically under-estimate payments.

As an example, a projection of total annual distributions without accounting for this effect, at the current portfolio level, is around $64,000. The same estimate, using instead the last five years of payout levels for the Vanguard funds, produces an annual projection of distributions of more than $90,000.

Vanguard retail funds have again collectively made up more than 90 per cent of total half-year distributions. Part of the reason for these high payments are likely to be found in fund rebalancing, redemptions and associated realisations of capital gains within the Vanguard retail funds.

For a point of comparison against these half-year results (above), the composition of the financial year 2020-21 distributions is set out in the chart below.

[Chart]

As can be seen, on an annual basis the new sources of distributions – exchange traded funds – make up only around 13 per cent of total annual distributions, as the Vanguard distributions once again take centre stage.

Comparing the average rate of distributions over time

The overall portfolio distribution rate for this calendar year is 6.0 per cent. This rate is estimated as annual paid out distributions as a simple percentage of the average total portfolio value over the year.

This measure allows a different view of the annual income performance of the portfolio which better accounts for the growing size of the portfolio.

The figure of 6.0 per cent for this past financial year is high when compared to the average rates recorded over time, being the fifth highest figure recorded in the past 22 years of investing. It is especially high considering that the average level of the portfolio includes bitcoin, which does not produce any income by definition.

[Chart]

The median distribution rate over the period 1999 to 2021 remains at 4.4 per cent.

Comparing average portfolio distributions and expenses

A commonly used indicator for whether financial independence has been achieved is the level of portfolio investment income compared to expenses. For some time each monthly update in this record has tracked the extent to which actual paid out distributions are able to meet either total monthly expenses, or credit card expenses.

The chart below sets out the proportion of estimated total expenses (credit card expenses plus estimated additional annual fixed expenses) that are met by portfolio distributions.

To reduce the volatility of month-to-month results, rolling three-year averages of both distributions and expenses are used in the chart.

[Chart]

As this record began, around 33 per cent of total annual expenses were met by portfolio distributions. This rose to 65 per cent by June 2018, and then increased, but at a slower pace, to around 80 per cent in June 2020.

At the beginning of this year around 90 per cent of total expenses were met by the portfolio, and between March and April this year the 100 per cent threshold was reached and exceeded.

The progress over the past two years has resulted from the twin effects of a continued reduction in monthly expenses, and a growth in portfolio distributions.

The record high distributions this half-year has also significantly shifted the overall picture of progress towards distributions meeting my ‘credit card FI’ goal. This is shown in the following chart.

This takes a three-year moving average of both distributions and credit card expenses up to the end of June.

[Chart]

Past versions of this graph in regular Monthly Portfolio Updates tended to show distributions and card expenses touching, and then appearing to decline together.

When the same graph is recalculated using the latest higher than forecast distributions, replacing previous placeholder average estimates, it is reinforced that a definite ‘crossing’ event has occurred. From around June or July of 2020 credit card expenses continued to sink lower, while distributions climbed past them.

This means that the portfolio now more than pays for every item typically bought on my credit card in day-to-day life, and also meets a rolling total of total average expenses over the past three years.

Allocating the funds from portfolio distributions

The substantial June distributions provide the flexibility to do a few different things over the next half-year.

Between the distributions of the Vanguard funds, and exchange traded funds A200, VAS and VGS around $82,000 of capital will available to be invested or allocated over the next few weeks.

This sum is less than the half-year total reported above because April quarter distributions from a number of the funds and ETFs have already been paid and were immediately re-invested in May.

Consistent with with past practice I will put aside a quarter of the payments (around $20,000) in a dedicated online sub-account to meet future portfolio-related tax liabilities.

In January I also made a symbolic small start of funding a ‘freedom’ themed cash sub-account, to build towards my target of having one full year of cash set aside by July 2022. I intend to add further to this from these distributions, with the current intention being to increase this fund by a further $4,000.

My current plan is to reinvest the remaining $57,000 in equal increments on a fortnight basis though July to December using SelfWealth.* These additional re-investments will be directed according to my asset allocation plan, targeting whichever asset class is furthest from its percentage target allocation in each particular month.

As discussed last month, however, this is not likely to include any additional bond purchases, due to the particular outlook and monetary policy conditions impacting yields in that sector.

Following my decision in the annual portfolio review to target over the medium-term an equal equity exposure to global and Australian shares, this is likely to mean continued future investments in both the Vanguard international shares ETF (VGS) and its Australian equity-focused equivalent (VAS). The relative required magnitudes of these investments will depend on future market movements in these markets, taking into account the long-term nature of the target.

Reviewing and redeploying the emergency fund

A further regular step following finalising the level of half-year distributions is to review the level of my emergency fund.

This fund is set at a level of providing the equivalent of one year of expenses equal to my Portfolio Goal target income of $90,500. It is primarily designed to cover expenses in any unexpected periods without employment income.

The June half-year distributions takes the raw five-year average of annual distributions to nearly $79,000. I have also reviewed alternate estimates based on average per fund or ETF unit distributions and long-term estimates of total distributions as a percentage of the portfolio. These two approaches suggested likely forward distributions between $64,000 and $66,000 per year.

An average of all of these approaches suggests likely future distributions of around $70,000 per year.

In recognition of this I will be further reducing my emergency fund from $30,000 to $21,000 and likely shifting this excess cash amount over to the symbolic ‘freedom’ sub-account mentioned above.

Although a notional shift from cash to cash, nonetheless, this movement is in part a recognition of the transition from protecting against emergencies in one state – while working – to having a substantial cash buffer in another state – financial freedom.

Observations

The June half-year distributions have again, as with the previous December distributions, been much higher than expected. The result is more than double the cautious long-term average estimates based on available records of past payouts.

A significant factor in play is likely to be the realisation and distribution of capital gains in the diversified Vanguard High Growth retail fund. Continued investment since 2018 in exchange traded funds, and their growing size led me to underestimate the potential for this feature of the Vanguard retail fund to re-assert itself so firmly.

Over time, I had expected lower volatility in the distributions record, from the sector-based exchange traded funds having fewer reasons to distribute capital gains to unit holders.

Receiving the equivalent of my portfolio target income in just a half-year period is a demonstration of this volatility. At present, my assumption is that this high set of distributions is an outlier, and not a harbinger or indicator a new level of average distributions. Further COVID-19 lockdowns or other economic challenges could easily lead to substantially lower distributions in the future.

The income from the portfolio, I have reflected before, notionally represents another additional full-time worker, effectively earning new capital each day on my behalf, at above the median wage. Over the past year this worker earned the equivalent of $68.79 per ordinary working hour.

Or to consider it another way, each hour of every single day and night last year the portfolio tirelessly worked to earn the equivalent of around $15.52 per hour, over 50 per cent more than the last financial year.

Six months ago, reviewing a record high in December distributions, I wondered where the tide would find its high water mark. The result this half year appears certain to mark it, for the next few years. The combination of capital payouts, surging equity markets, and a passing through of dividends deferred in the initial phases of the COVID-19 pandemic appears unlikely to repeat.

Quite simply, also, the portfolio could not long weather the equivalent of a six per cent distribution rate, and maintain its value in real terms. As things have been this way, they cannot remain so. The future remains undiscovered, and shrouded – as always – in the fog of uncertainties.

Explanatory Notes

Income distributions reported above do not include associated franking credits. My current preference is to seek to track cash actually delivered to my bank account as a tangible and easy to calculate measure. Last financial year franking credits valued at around $8031 were received from all shares, ETFs and Vanguard retail funds.

The income assumed for funds in the Plenti peer-to-peer lending platform is based on historical averages of the applicable lending rates used, together with the average balance over the periods.

The full post, links and full charts can be seen here.