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Hello there,
As I was driving earlier, this thought came through my mind. I've been accumulating Bitcoin for quite some time now, and at some point eventually I'll have to withdraw it in fiat, at least some of it. I'm not sure when that time will come, and I'm definitely not selling for anything below $50,000, but that's another story. However, I've always kept my bitcoin away from exchanges, and I prefer that it stays that way for obvious reasons that have been discussed numerous times in the forum.
Not only do I want to avoid exchanges but also banks, which is currently the most convenient way to withdraw money, but if I were to move funds to a bank account, they'd get taxed at 24%, which is a huge percentage. I've also thought about Bitcoin ATMs, but the majority of them here require some sort of KYC and feature expensive fees, although they may still be a better option than bank transfers. Is there an actual, reliable way to exchange bitcoin for cash in hand? My best guess would be a P2P transaction in person, but that's quite unlikely.
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For once in my lifetime, I actually believed that you posted something serious to give your condolences for the dead. However, I was terribly wrong. Even earthquakes are a conspiracy theory to you. There are over 20,000 dead, and this number is expected to rise in the coming days, but you still see conspiracy theories over some Tesla earthquake machine. Are you nuts? Is there something terribly wrong with you? It's disrespectful towards the dead and the rescue teams to come up with something so stupid. I'm dumbfounded by you.
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I'm not necessarily talking about the OP specifically, but just a few hours after Bitcoin started falling, we already have more than 5 threads about the end of this short bull-run and Bitcoin's possible crash again. I understand that we're talking about money, and everyone is a little worried when they can practically see their wallets draining in value, but why all this panic? It's completely unnecessary. Less than a month ago, Bitcoin was at $16,000, and it recently almost got up to $25,000; is it such a big deal if it falls to $20,000 or even as low as $18,000? Consider it an opportunity gap; personally, I'll receive more Bitcoin now that the price is lower, so that's a plus.
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Congratulations on receiving your first signature campaign payment. It can feel exceptionally fulfilling to earn your first dollar on the forum, regardless of the amount, which is relatively small when starting out. I also started small with signature campaigns that were on the lowest tier and slowly worked my way up; now, it's almost like a part-time job or hobby that pays me. I've also found one of the first, if not the first, signature payments I've received in my old wallet. Keep up the good work and you'll soon enough become Full Member and eventually Sr Member, where rewards are considerably higher.  |
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Personally, your way of saving is way too extreme; I'm not going to start eating less in order to save money. Yes, I will avoid buying junk food, such as chips, chocolate, candy, etc., but not cut down on food. I'm also not going to be drinking plain hot water; I'll buy a coffee or a hot chocolate every now and then; it's no biggie; I'm still saving money. I'm not going to become obsessed with money by living my life poorly.
Moreover, as Lucius already mentioned, an older car might be more expensive to run in the long run. My previous one kept breaking down and requiring repairs much more frequently than my newer one, which I've only replaced a resistor on so far, which I did myself.
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There are so many different situations you need to find the setup that works for you. Some people get lucky with a flat share with friends at a fraction of the market rate, others get trapped with the worst housemates out of necessity yet still pay high amounts due to the local area, some people who buy a house pay stupid interest rates because they do no research while others are running optimum finances that make a mortgage the best option. It can be hard to find the ideal house as a buyer because your budget is often fixed at the limits of what you can afford, many people start off with buying a flat which comes with the possibility of problems you identified as a renter.
My brother is fine with having a few roommates; I, on the other hand, can't stand having more than one, and I'm also picky and a little difficult as a person. I want to have my own space and not have to worry that my actions or preferences may disturb someone. Thus, it's not an ideal solution for myself; I'm getting along just fine with my girlfriend, though there are minor issues. If I were to get a loan for an apartment, I'd choose an older one that required repairs that I'd work on myself in order to save money, and we'd put personal effort and dedication into that house. The feeling that you've created something with your own hands and personal work is exceptionally satisfying. |
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There could be a wide variety of reasons. from lost and recovered to forgotten in an old wallet or even a planned holding. It's honestly a great amount of time, and if it was on purpose, it makes me wonder how s/he got through the ATH without the temptation to sell. I've been holding a relatively small amount of Bitcoin since 2020, and the thought of selling hasn't crossed my mind yet, but 412 bitcoins? That's a great number, which in my opinion points out that it wasn't intentional holding; how could someone possibly survive so many ups and downs within 11 years? Unless it's the secondary address of an old investor or miner from the early era, which hasn't been used yet.
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^^^ Face-masks are dangerous. And the little they might protect from Covid viruses doesn't make them worth using. To see what individual doctors and studies show us about face masks, do searches on phrases like "dangers of face masks."  As much as you'd like to believe that, it has been proven that masks are effective in preventing infectious diseases, not only COVID-19 itself, which is the main reason why the flu almost disappeared during the quarantine measures. Your statement doesn't have too much value since the 10 results of random websites can't outnumber the thousands of scientific articles proving the opposite. I have become sicker and usually get coughing, severe coughing. I think of this as a normal cough but yeah, when I say severe, it's not the typical cough that someone can get.
It took me around 3 weeks until it becomes moderate and I'm on the 4th week now and luckily, it's becoming gone unlike during the first days that I used to cough every now and then.
I don't know if it's already stuck in our minds that diseases and viruses are just floating around and it has really changed a lot pre-pandemic. Whether there's a pandemic, epidemic or none, we should really protect ourselves and do it on our own ways.
I've been coughing for over two weeks, and today I'm a little better, but for some reason, I still have a moderate fever despite taking antibiotics, vitamins, cough medication, and so on, and even after two days of being completely fever-free. |
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I'm not focusing on COVID-19 but other infectious diseases such as the flu or simple viral infections. As I've already mentioned, I got sick on Wednesday with the flu, and I've yet to recover. Honestly, I doubt that I'm even halfway towards my recovery. This is the first time I've been sick with the flu, and it has been terrible, a lot worse than COVID-19. I know that you're against vaccines, so there's no point, but I am wondering if I had received the annual dose, would I have suffered so much? Covid was nothing compared to it. |
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There's been a recent surge in cases of Covid-19, influenza such as H1N1 and its similar mutations, and simple infectious viruses. The cause of this is most likely the lack of protection measures we used to take the previous two years, in which the flu was almost eradicated due to mask usage. Nowadays, most, if not all, countries have removed the mandatory mask requirement, and at least here, hospitals are filled with cases of infectious viruses.
A few days ago, I was infected with the flu (type A), and I'm yet to recover, while it caused the highest fever I've ever had (40.8 C). It was far worse than Covid-19. The truth is that Covid-19 seems to have died down, but the abandonment of its protective measures has resulted in a huge rise in infectious diseases. I always got through minor infections and colds easily, but the flu this time was something else, which led me to the conclusion that vaccination could possibly be beneficial in order to get through the disease quicker and easier.
What are your thoughts or experiences with the flu virus?
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I've always been paid on a monthly basis; I've never heard of weekly payments before, but even if it were an option, I wouldn't choose it. I'd rather be paid once a month than have my salary divided into four smaller payments; it seems pointless. While commission-type jobs may provide you with the ability to earn more than a standard fixed salary, I find the whole concept stressful since you don't have a standard amount of money you'll receive each month. Personally, I prefer the safety of being paid a fixed salary; it gives you peace of mind.
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It's certainly not a petty amount; as someone else already mentioned, it's worth about $2,500, which isn't a little, while if you had the same amount of Bitcoin during the previous ATH, you'd have almost $7,000. Not bad, right? I know that it looks like a small amount, but you still have great earning capabilities when the bull market comes. Don't get pressured into buying more Bitcoin than you can afford, and certainly don't change your life just to accumulate more.
There's an ongoing trend pressuring Bitcoin acquisition, something I noticed in newer members way too often because there's the fear of missing out. Unfortunately, most of us didn't have the chance to purchase in the earliest days and missed that opportunity, and especially newer users are afraid that this is their only chance.
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~snip~
The only question is when will it happen? Well, if we look at how fast inflation is going down, I can assume that it will probably go down to the expected 3-4% in the Q4 of 2023. So I'm not expecting a bull run until 2024.
I would write it in a much simpler way, because regardless of inflation, stocks or even war, most people expect a new big bull run to happen after the next halving, which means in the second half of 2024 or during 2025. As for investors, especially small ones, they all want to invest for as short a period as possible and are looking for some kind of winning formula, but now they are faced with a big doubt because despite speculations that the bottom will be even closer to $10k, the exact opposite happened. The majority of us are expecting or at least hoping for a new bull run somewhere after the upcoming halving because there seems to be some correlation between the two. However, what if the economy is in a worse condition than it currently is? We certainly can't expect much growth currently since the market has been going downhill for the past few years, but what if the condition is worse in the near future? Could Bitcoin still thrive? The OP is also claiming that there's still a possibility of the market crashing again, but in my opinion, Bitcoin is unlikely to fall below $20,000 again. |
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You are lucky that you can find an apartment within a $400 range. That's cheap when you compare it with other countries. But I don't think "renting" is a waste of money. You are renting it because you have to. It's like saying why not buy a whole farm and produce your own food instead of buying food everyday because it is an inevitable waste of money. Start saving for the down payment as much as you can. Then pay the rest. You will be paying a little more than what you pay for the rent, but in the long run, you will have your own house. You just need to make sure you always have a job. And also remember, not everyone can afford to own their own house.
Although it's cheap compared to other countries, it's not considered cheap when the average salary is €700–€800. If you're alone, it's practically impossible to rent by yourself; you'll need a roommate or a partner to split rent and utilities. The rents aren't considered expensive themselves, but the salaries are too low to support paying such a rent. It certainly isn't a waste of money; you need to live somewhere, but it's not generating any profit for yourself in the long run. ~snipped~
Monthly payment. It may not sound too much compared to other European countries or the USA, but it's approximately half of your monthly salary. Certainly, loans are a huge commitment, and you can't have any guarantees about the future. Just because life is working out now doesn't mean that it'll also do so 10 years from now. |
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It is impossible to invest considering that you do not inherit from your ancestors. I get the feeling that i have wasted money sitting in a rental house and that's what i'm experiencing right now. Regardless i would definitely prefer to live in my own home and many people think so. As long as the interest rate was not too high i would use all my means to buy a house on loan.
I was looking for a house at the time of pandemic covid-19 and rental houses were very cheap. Homes for sale were very cheap. I thought about buying a house at that time but i was afraid because the interest rates were very high in the country i live in.
How could i have known that inflation would increase after the pandemic? With the increase in inflation my chances of owning a house were much reduced and i began to research the government's low interest house sale campaigns. Renting is definitely a waste of money and if you want a comfortable life in retirement you should own a home.
That's why I mentioned that it's an inevitable waste of money. You're paying monthly but aren't generating anything from the money you're spending. Provided that you spend your entire life in a rental house, the money going towards rent would accumulate enough to buy a house in 15–20 years. The issue with loans is that if you aren't able to find a government-funded project like the one I mentioned, chances are that the interest would be enormous and would drive the cost overboard. I don't regret spending all my money on rent; there's nothing I could have done differently at 25 years old. |
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I agree with your overall point Ultegra134; however, I would clarify that you can be persistent and even assertive with your ongoing investment into bitcoin, but there is no imperative to have to be overly aggressive or to have to try to compete with anyone else in terms of trying to make up for lost time.. in regards to NOT investing earlier.
In other words, I think that it is better to consider the whole ONGOING BTC accumulation matter as a kind of way to be as sufficiently aggressive as reasonable, and to make sure that we do not overdo it within our budgets.. so if we can reasonably accommodate $100 per week, then great, but if our budget does not really allow that much, then we have to figure out what is allowable without overly stressing our own budget in terms of cashflow coming in, expenses and our psychology in regards to NOT having too many extra pressures.
If we keep buying on a regular basis, it is likely that we are going to see progress with the passage of time, but how much progress will likely vary depending on how aggressive that we are able to be without overdoing it..... We should not end up overdoing it, and then find ourselves with few or no coins because we failed/refused to adequately have our budget (and psychology) in a good place to be able to weather the likely inevitable good times and the bad times.. that can sometimes happen in extreme ways both in terms of time and intensities.
That's true; people are afraid of missing out and are panicking and buying Bitcoin in an attempt to make up for lost time. As someone who entered the Bitcoin scene early but has only had a tiny amount since then, I can relate. However, you need to be cautious and set limits on how much you can afford to invest every week, month, etc. There's absolutely no reason to rush and attempt to compete with others; whether we like it or not, some users had a head start. Exchanges, such as Binance or Bitstamp, are generally safe, and chances are that you'll have no issues with their services; they are also newbie friendly. |
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Congratulations on your first Bitcoin acquisition! You actually reminded me of my first one too, somewhere between 2013 and 2014. Bitcoin was worth approximately $300-$400 back then, and I had acquired a decent sum of BTC for the money I had paid—it was actually more than I've ever acquired. I'd advise you to create an affordable monthly budget and purchase as much as possible since it's likely to be worth a lot more after the halving, approximately a little more than a year from now. Bitcoin has been an incredible journey so far, and I'm delighted to have been a part of it for the last few years. Don't make the same mistake I did; be persistent and don't give up if you see things going the wrong way.
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Well, I have to clarify that personally I have never had any loan or debt in my life so this thread has nothing to do with my experience but intends to find out how people in loan/debt deal with the problem. Let's say you take loans from a bank and sometimes for whatever reason, you can not pay the debt on time, then you borrow money from other channels. Sure this works for a certain period but later bad things may happen, you have to postpone the payment and struggle with finances again. Isn't this a vicious circle ? How would you deal with the problem ? I am all ears.
Getting a loan from a bank is a very risky activity. The bank loan will need to be repaid (in this case, not only the body of the loan, but also the accrued interest payable). Therefore, a loan can be taken only for very important purposes (for example, for business development or for the acquisition of promising real estate). Some borrowers believe that it is acceptable to take a bank loan for the purpose of obtaining higher and secondary education (however, in my opinion, this is a controversial point of view). Refinancing does not solve the problem, as it only increases the credit burden. In my opinion, you should try not to resort to a loan of credit funds in principle. Taking a loan is a risky move, but the risk varies depending on the reason you're receiving the loan. I've had acquaintances with unstable jobs take an expensive car loan at a young age because they want to show off with their car; I've had others who wanted money in order to afford a vacation, and paying a loan with monthly instalments was their way to go. These two examples both show an awful approach. The only reason I'd be okay with taking a loan would be for investment purposes, such as repairing or renovating a property for personal use, renting, or selling. Not exactly a loan, but one more use of credit cards is to pay for stuff you can't avoid, such as insurance, taxes, etc., in interest-free installments, making it more affordable to pay and usually earning cashback points depending on your card. |
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I've also noticed a trend of taking small, unnecessary loans of a few thousand euros from a few people in my surroundings. The majority of people are easily tricked into thinking that it's fine to pay a relatively small amount of money on a monthly basis and are carried away, not taking into account the accumulating interest or accruing payments. This is also common with credit cards, which are way more convenient and quicker than taking a loan. Credit cards are practically a form of borrowing money since you're basically going into debt in order to purchase something, making it look more affordable to conduct purchases with money you don't actually possess.
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Renting has its ups and downs, but honestly I'd rather choose to buy my own house than to get stuck living in someone else's for the rest of my life. Renting is outrightly affordable compared to owning a house that's for sure, but it becomes a liability over time while a house flips you profits through appreciation. Although you are given the liberty of leaving and relocating should things not turn up well in your current residence when you rent, you can pretty much do the same thing as well with buying real estate you would live in, just with some extra steps.
Renting a house is a bit affordable because they don't really think about other things like taxes and maintenance, but the average person renting their house is working out of town which makes it easy for them to move anytime with a fixed contract duration, however I feel the same way when working at out of town and only pay the rent every month and then don't think about other costs. But now I have my own house in my hometown and well we have to pay a lot for everything that is needed, taxes every year, expensive maintenance, other rents are my responsibility, so the landlord has to be prepared with all of that but somehow I'm happy be in your own home without having to rent again. Regarding the comparison of renting or owning your own house, it's really relative, how can we see the advantages and disadvantages. But I think renting is not a waste if he can manage finances properly. House rental is generally a complicated and controversial subject. It's usually cheaper than paying a loan, but it also depends on your country of residence. However, as the previous poster already mentioned, I'd rather pay more and deal with everything myself than have to chase my landlord for every single thing that's malfunctioning. I've had my fair share of landlords, and the majority of them were awfully unhelpful with maintenance issues and generally had unpleasant experiences. Despite all the concerns stated by other posters regarding maintenance and taxes, the feeling of owning your own personal space is unbeatable. |
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