It sounds like a reasonable plan.  Do not keep the coins on any exchange though, preferably use some type of cold storage since computers can be compromised also.  It certainly sounds like you have the right time frame, not days, weeks, or months, but years.   Depending on what country you are located and the potential amount of value involved later, remember to consider that some places will impose gift taxes to larger amounts so gifting now vs gifting later (post-appreciation) could be smart.

I'd have to disagree.  Crypto can easily be a "a store of value".  Over any reasonable timeframe so far, crypto has demonstrated that it is a good store of value.  Of course fiat is definitely not a "a store of value".

As far as a medium of exchange, for proof it is a medium of exchange, just ask silk road and all the other places that have used bitcoin for transactions over the last 14 years.  There are plenty.

Perhaps it is not a unit of measurement yet, but 2 out of three equals or beats most fiat.

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Precisely.  Many of the people at the investment banks are paid to do "something" even if that something is just writing articles to share with clients and those employees are never judged on the records that their calls have.  

Perhaps when you have electricity download a bunch of information about bitcoin to your laptop computer.  Or order some hard copy books.  

There are inexpensive solar charges if you only have to charge a laptop.  Or make sure that your laptop is charged fully when power is on?

See ones like this:
https://voltaicsystems.com/solar-chargers/


https://www.treehugger.com/best-portable-solar-laptop-chargers-4858511

If you really think that government regulation will result in more transparency, think about Bernie Madoff, Jordan Belfort, people buying houses in 2006-2008 with no way to pay for them etc.  There are 1000s of examples in highly regulated markets where crooks operated with impunity for a long time.  They will talk a good game but it is more about their power and control.

As far as the rest:  storing coins in a centralized exchange has always been bad for all the obvious reasons: seizure, fraud, bankruptcy etc.   It seems every year or two it becomes crystal clear that people think that this time it is different, they think "this time I can earn a riskless reward".  It is a hard lesson, but last year Celsius and FTX show that.  Genesis dragged it into 2023.   Sure, use whatever exchange you want to buy or sell, but do not leave coins or fiat on there.  And don't do it all at once so that if you are unlucky enough to deposit 10 minutes before another FTX shuts down, you don't have a total loss.

Crypto isn't difficult:  buy or mine coins, put them in cold storage and then just wait OR buy or mine coins and spend and use them using a non centralized wallet.

Perhaps they should look in the mirror and have tighter regulation of fiat so that it doesn't lose 99% of its value over a century.  Perhaps they should regulate the corruption of government officials first.

Of course, SBF is a scammer who just happened to use crypto.  Just like there are plenty of scammers using the euro and dollar. 

Authoritarians and totalitarians the world over want power and control and CBDCs give it to them.  They are nothing special from the tech side, just a database, but for the power-hungry politicians, they are a dream: a centralized, censorable, controlled database of every transaction.

Owning bitcoin is one way to protect yourself.  Getting others to do so will help them eventually.

Ah, so the "tourists" are people looking to make a quick buck who haven't paid enough attention to know that BTC goes up and down.  In other words short term speculators who think "long term" is a few days  and "short term" is a few minutes.  lol.   Market timing is a gamble.  As you say, one sure way to have done well was to just buy a dip and then leave it for a few years. 

People who panic end up missing the gains.  Pretty much anyone who mined or bought during the 2009 and 2020 period (even some of 2021) is doing well.  The people who were looking to make a quick buck and then overreacted probably didn't know that bitcoin has been very volatile, but over its existence has outperformed every other asset class and certainly inflation by orders of magnitude.

The advice that has paid off over time: buy (or mine) some coins.  Put them in cold storage.  Wait.  Come back and look in a few years.  Hold longer.

And you are right, anyone keeping coins on exchanges is asking to lose them.

They can try, but eventually people who don't want to be under the thumb of the control-freak authoritarians around the world (socialist, fascist, communist, whatever the stripe) will just remain in bitcoin and not have to deal with them. 

I would also add that it seems unlikely that "all" governments will agree to ban bitcoin.  Some will see the benefit to not doing so and competition will force others to follow.

Think about the systems or political parties in the countries/states/regions trying to (in some cases repeatedly) ban bitcoin:  China.  New York.  India.  All want to control people and don't trust people to make decisions for themselves. 

Which side of history do people want to be on?  The one advocating for freedom and liberty, or the one advocating for statism, authoritarianism, totalitarianism, and control?

It certainly does show the difference in markets.  Coinbase probably over expanded during the prior times.  I do hope this is a sign of positive things to return for bitcoin.  The fraudster, scammer hangers-on who have wanted to make a quick buck by centralizing bitcoin need to be flushed from the system.  E.g. FTX, Celsius etc.  Not to mention a lot of the scam coins.

I think the reason is:  everyone else has turned on him so there was no deal offered for him to take.  The others probably got a "if you cooperate with us [the prosecutors] we will recommend leniency to the judge".  So they might get X years vs Y years if they are shown to cooperate.

For him, everyone else had already turned so his choice was to (a) plead guilty and get a max sentence, or (b) plead not guilty and hope that he can show that they were the real ones who were the criminals, they were lying because of the plea deal above etc.  Then he might have a chance of getting off vs a guaranteed long sentence.

In short, his only choice at that point was to plead not guilty. 

I haven't seen details on it yet and whether it is true or not.  However given the stuff that was suppressed about Hunter Biden's laptop, Hillary Clinton's use of foreign nationals in 2016 to impact the election etc, it wouldn't surprise me if in a few years we find out it really was true.  The lies from Fauci at first that masks don't work, then they do and he admitted they lied etc.

Either way when SBF is donating millions to buy votes and protection, whether it went through Ukraine or not doesn't matter too much.

You see stuff like this you see them raising money for Ukraine, but not the other way:
https://twitter.com/SBF_FTX/status/1501268476488417281


Through Nov 30, 2022 it looks like the US sent about $15.1 billion in financial support (e.g. money) vs 22.9 in weapons, equipment, training etc.  Plus 9.9 billion in "humanitarian aid".  (https://www.cfr.org/article/how-much-aid-has-us-sent-ukraine-here-are-six-charts)  and (https://www.csis.org/analysis/aid-ukraine-explained-six-charts )

And then you have the arrest a few hours before he was supposed to testify (https://www.yahoo.com/entertainment/miranda-devine-calls-extremely-suspicious-184204146.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAI4BaVJYpMUKWQh6aIhNHkyfTqsBHX_FyWlNiBgt0rX8s26HXtEr2wNl7MMtcB7aiP0_nl_pgqeV19S9d8DPPHBQJstGnLgJmpATsliEWfxFseSNIZu0TmscUkVoXYHDV63bfAU_xa-ejWZktfI7N_SS4IXA-rtIlb7WdC0VHgNQ). 

Seems suspicious, like they wanted to stop him from saying something.

Using FTX to launder political donations and things like billions in dollars to Ukraine, and then some coming back to those in power to buy more votes.  It is disgusting.

I'd just add that the crypto space is a threat to not just the banking system, but the political system since they depend on the laundering for their power.

This is why the are all in favor of things like digital fiat.  It buys nothing except no bills, but allows those in power to control everyone and everything, everywhere.  An Orwellian nightmare for people who are being controlled.

This is a bait and switch.  They claim to want to regulate crypto to protect people, but they really want to regulate crypto to protect themselves and their power over people's money and consequently their lives.  They like being able to tax the people of the world 5-10% every year via inflation.  With around $460 trillion in global wealth, that is a TON of money they'd lose out on stealing from people with the "little guy" being hit the most with high inflation.  

The solution is easy:  hold your own keys.  
Buy your bitcoin (or mine it), move it to your own keys.  Use it or save it.  Don't exit.

Don't believe that you can get a 10% return safely from some muppet in cargo shorts (SBF).  Don't believe you can get a 12% return from some guy and his family who can't answer specific questions on an AMA (Celsius).

It isn't rocket science.  If you don't hold the keys you are a creditor.  If it sounds too good to be true, it probably is.  That isn't specific to crypto.  If you don't like it, keep your money in a bank.  Whatever regulation they put in place would be redundant given the laws on the books already.  SBF is already in trouble, what specific law would've helped?  A law against Ponzi schemes and scams has been around for a century or so and the scams have been around longer than that yet people are still taken in.

FTX will never revive.  Visa etc were all jumping on the bandwagon.  I don't understand what all these people were thinking, perhaps they weren't thinking at all.  It was a case of the emperor have no clothes, like Celsius and many of these other people and it seemed pretty obvious that neither of them knew what they were doing and were just scammers.  I watched part of two of those Celsius AMA things last spring and they just seemed incompetent.  Ditto with the people from FTX.

The number of supposedly smart people at Visa and other places taken in by the scammers is crazy.

Another order of magnitude or two of price increases will help bring price stability to bitcoin.  An inflationary currency is a huge problem.  Over 30 years, you can lose more than half your purchasing power in a low inflation environment.  In a high inflation environment like now in many places, it happens much faster.  Something that cost $1 in 1992 costs over $2 today.  Something that cost $1 in 1982 costs more than $3 today.

A non-inflationary currency like bitcoin can protect you from the people who want to steal the products of your life and mind with the hidden, outrageous, abhorrent, highly regressive inflation tax. 

That is true re the 2007-2007 timeframe.  I am still of the opinion that bitcoin will over time protect you from inflation and confiscation along with many other uses.  It certainly has down well compared to fiat over most timeframes > 12-18 months.  Time will tell if that continues.

:-)

I'd have to say that long term, bitcoin IS safety if you have a longer attention span that a fly.  :-)  Sure, if you bought at 60k you are down now, but if history turns out to be any guide, you just need to give it time.  There isn't a guarantee that bitcoin will always go up.  People tend to panic at the exact wrong time and buy high and sell low which is a sure way to lose. 

The mantra for > 12 years now is: mine or buy some and put it in cold storage.  Check the price in 5 years and for most retirement plans (except in your case being 65! :-)  ) the timeframe for an investment is decades.

Precisely.  Anything that takes power from the Chinese communist party will be opposed and that means that anything that is decentralized is attacked.

It is similar around the world today, whether it be the socialists, fascists or communists in the US Democrat party who can't tolerate dissent or similar people anywhere.