I just dumped my monthly SMSF allocation into bitcoin.
This is forced govt savings & while I reject the premise, I get joy from allocating it to magic internet money.
#[0]
Discussion
You hold the keys?
Absolutely.
Do you have to provide proof you still have it? Do you have to provide the government an adress to check its still yours?
Good question.
Then they know where to go to get his #BTC
I'm genuinely asking as have no idea. Our government are pricks down here and wondering how full on the process is
It's surprisingly easy.
It also really depends on the auditor (the SMSF accounting company arranges this all for me).
I've heard some interesting stories but I've never had an issue or question raised.
Cheers mate, appreciate the info. Got to get the misses set up with this as she's still in the traditional system.
Never had to do anything other than provide reports at audit time to show transaction and balances.
I haven’t had to provide wallet addresses or proof of keys.
100% self custody safely stored in the cup holder on the boat.
No - you just need to satisfy an SMSF auditor.
This is basically pulling together a report of incoming & outgoing transactions.
There's a lot of trust on their side since it really wouldn't be too hard to falsify it. I doubt that they verify the balance & transactions on the timechain.
I've never had an issue or tempted fate. I just tick their boxes & keep my head down.
The fees alone on fiat savings should be enough of a sign to direct your investment choices. (and i'am sure they are)
#WarrenBuffet also sold most of his fiat bank stocks and bought stocks in companies involved in the #crypto eco system. And even angel invested into one crypto bank.
Congratz, you are winning fren.
#btc #investing #finance
Nice. Though of course if they want to come for your bitcoin they will. But we all run that risk to varying degrees.
I've contemplated this a few times but the small "what if" holds me back. Couldn't live with myself if I ruined my family's future. Super stays in traditional for now and BTC outside of it.
It niggled me a bit but I couldn’t imagine going back, wrote this yesterday:
https://www.linkedin.com/pulse/dont-trust-verify-risks-superannuation-bitcoinsuper-io
Added a section the homepage of bitcoinsuper.io 
I think it's just the conviction in his bitcoin investment thesis. I know it took me about 18 months to really know that this is the best place for my savings long term.
Even with this knowledge, I still have a small niggling doubt & that I'm arrogant to believe I'm right over all these so called financial experts.
It's probably helpful to know that the risk of super funds collapsing or being pilfered is quite high given the trust placed in them & opaque nature of the industry.
Best feeling there is.
I console myself in the knowledge that regardless of what any politician says those compulsory super contribution’s would never end up in your wallet without super. That money would otherwise just go in the corporate pot.
The fact it ends up in self custody #bitcoin is a miracle they haven’t thought through.
Yeah it's a really nice feeling.
I tried to stack this little dip with my personal but I must have just missed the fiat banking window. Funds haven't hit the destination bank yet.
Then I remembered my SMSF which can use payID. Boom - dip stacked.
There's something about securing my funds from their greedy little fingers that makes me very happy. No yield to tax either.