Financial Freedom & DeFi ๐ - Issue #3
Itโs been a while since I wrote my last newsletter.
Thatโs mainly because that Iโve focused on Twitter and thread-writing.
If you havenโt read the threads yet Iโve made guides for:
-Anchor Protocol: I explain the concept of how you can get a 20% APY on the stablecoin $UST. I also talk about the risk aspects. You can find the thread here:
-$UST-$MIM: How you can get 120% APY on the stablecoin $UST by using leverage with another stablecoin ($MIM). You can find the thread here:
ย -Mirror Protocol: This is a step-by-step thread for how you can get 40-60% APY on $UST by using a Delta Neutral strategy. You can find the thread here:
ย -Spectrum Protocol: A follow up thread of Mirror Protocol. It sows you how you can get higher APY by combining Mirror Protocol and Spectrum Protocol to get even higher APY. You can find the thread here:
-$TIME: A thread about the best $OHM fork. Itโs a thread that explains all the background information and it guides you step by step on how to buy $TIME and how to stake it on Wonderland.money You can find the thread here:
-$FTM: A huge thread that explores all the possibilities on the Fantom ecosystem. If you are a DeFi-degen, you will love this thread. Warning: Over 1,000% APY You can find the thread here:
-All my stablecoin strategies in one thread:
A DeFi update
Iโm basically spending 12-hour days 7 days a week researching crypto and DeFi now, so those who told me that it wasnโt hard work to focus on my own projects lied :P But it is super-fun.
I get to talk to smart people every day, and it feels like Iโm not stagnating anymore, which was the feeling that I got in my 9-5. In my day job, there were no real challenges, at least not for me.
I used to finish my work tasks quickly, and the rest of the hours on work I used to spend on Twitter. Iโve talked to a lot of you guys now, so it seems like this is pretty common among other white-collar workers.
One day I figured out that enough was enough, and that it didnโt make sense to stay in my 9-5 when my passion was for investments and crypto. I quit my 9-5 job in February this year, and at the start, I was very nervous about how I would like it and if my passive investments would continue to deliver passive income.
So far this has worked out well, and after I deposited a lot into Anchor Protocol, I feel safer than ever that my passive income still will come in.
Another thing Iโve been thinking about lately is where to live. So right now I live in Norway, but I find it interesting that crypto opens up opportunities to live elsewhere.
For example, Iโve talked to several people that either live in Portugal, Dubai, Switzerland, or South America. Maybe not that surprising that these countries also are very crypto-friendly and have low or zero taxes on crypto. ย Link tweet with a place to live.
Life is short, why stay in one country for all of your life? I donโt know, but I find the idea interesting to go on long-term travel or even move somewhere else.
Another thing Iโve been thinking a lot about is the concept of living completely bankless (link bankless tweet).
For now, it seems that itโs relatively easy to just use a Visa card for payments in the grocery store if you want to buy a new TV, etc., but one question I still have is how to pay regular bills that are a part of the TradFi banking system.
Seems like the only option is Paypal or even a โnormalโ bank account. Please inform me if Iโm wrong and that it is opportunities out there for this. Also, how can you buy a house with crypto? Link tweet.
I know that you can do it somewhere, but it seems like this isnโt possible everywhere. An idea I had was that if someone invented a global webpage for the whole world where people could list their apartments and houses for sale, and the only accepted payment was crypto.
If you are the seller and I am the buyer, couldnโt we just agree on a price and just transfer the payment through Metamask (letโs say 300 $ETH), and then do the paperwork separately. Iโm sure there is a lot of legal issues with this, but I canโt see how this wonโt be a part of the future.
Crypto is super popular and, as @naval said: โSomeone, somewhere is always willing to sell their house for more Bitcoinโ. I agree, because financial freedom is priceless.
Personally, Iโve had a mind shift lately. Earlier on physical money (TradFi bank) was real money.
Now the only money that matters to me is digital money. Digital money feels safer, itโs faster to send, I can get nice interest rates and you can travel with them to every country in the world.
Meanwhile, my physical money in the bank collects a 0.01% interest rate and is eaten up by inflation.