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Subject : Crypto Assets and Keto Diets
It was hard travelling SE Asia and not getting swept into buying crypto assets like Bitcoin.
Nearly everyday I would meet people who seemed to be living the dream and doing no work. If we ever got onto the topic of money or work, I’d often be told they “do crypto”.
Of course - I was intrigued.
It’s like when you see somebody who has lost loads of weight and they tell you that they “went Keto”.
I decided I wasn’t going to make any moves in the crypto world until I understood it completely.
I read books, podcasts and talked to a lot of “experts”. I still didn’t really understand, but my conclusion (which is by no means correct) was that the majority of people were capitalising on demand of these assets, rather than the actual value of the asset.
I thought of it like collectors items - no real value on this card with a footballers face - but it will cost a lot to buy and there could be profit if sold.
I decided that there was money to be made, especially from the early adopters, as long as there was demand from the masses.
But, in my opinion, I was too late so I held off.
Sorry - I’m waffling, but to bring this back to the example of losing weight by going Keto:
It’s complicated and probably only going to get you short-term results.
Unless you think you can give up carbs forever, and manipulate your fat to protein ratio to remain in ketosis.
Now, I’m no expert in finance (I don’t really think my financial maths degree counts after 12 years!), but after reading some books like the Intelligent Investor, Money and even Guide To Investing, I decided to put my money in Index Funds and property.
Slow and boring investments.
Like the most successful diets.
No dramatic short term results that are unattainable.
No fancy secrets that will be taught to you by dodgy “FX traders” on instagram.
Index funds are tied to the economy, which means they will rise and fall in value (like the variable results of long term fat loss), but as a whole, have gained in value over the last 100-200 years (fat loss won’t take that long though!).
That is not to say that there are not people who have realised a lot of profit from trading crypto assets but they are probably either very educated in them or got very lucky on the timing.
For stress-free and long-term profits, and stress-free long-term dieting - I prefer index funds and a slight calorie deficit.
If you want my help with implementing the long-term fat loss (I promise there will be no financial advice!), you can join The Furnace for €99 per month for 3 months, OR a discounted rate of €259 if you pay up front!
Click below to get started.
Thanks for reading
Siobhan “should have gotten in early” O’Hagan
