... JJG #593636 Yeah, well, I am not the most articulate at times. You are correct that I have never been anywhere close to All-Inn on BTC. I would never be All-Inn on any asset. Even the Apex Asset, because I do not know what will happen. When BTC price runs up so fast, as it does from time-to-time, I have a self-imposed duty to slice off small parts of my BTC stack, BTC could go to $0 and I would still be WAY ahead. Re other your other comments on my post, I was just demonstrating that I would be a terrible trader, my (short-term) timing is terrible. I tell people who know me that they could make money taking the other side of any trades I make. JJG, you (and various others here) have added value to my life, by passing along wisdom and great info (as did Bob re pointing me to Gemini). Please, all my brothers & sisters here, do not get the impression that I am in any way anti-Bitcoin, most assuredly not. I am thankful to you all for your aid in helping me attain stronger financial independence. Evidently my thinking is very different than most have here at W.O. * * * I ran into a couple of interesting articles by Alexandar Svetski via https://bitbo.io, a nice site that offers links to Bitcoin Magazine articles. The below two discuss how Bitcoin Maximalists are doing huge favors to our community: https://bitcoinmagazine.com/culture/how-toxic-bitcoiners-are-protecting-idealshttps://bitcoinmagazine.com/culture/bitcoiners-are-the-remnantI am quite sympathetic to Bitcoin Maximalism, it's just that I am not there (I do eschew schnittcoins though), I do accept that most here at W.O. are way ahead of me in Bitcoin knowledge, and that's as it should be. I don't mine, I don't program, I did not even start with BTC until ~2014. Svetski discusses the notion that Bitcoiners are a "Remnant", in that the Remnant is forming a core of HODLers that will eventually bring in the Masses. Svetski sees NO NEED to try and convince others to buy Bitcoin. The Masses will come of their volition in due course. Svetski also shows that members of the Remnant expect the best from their friends, and offer their best to them as well -- something I do see here at W.O. Of special interest to me was his observation that members of the Remnant will find each other, once again in due course. In my own case, I found many Remnant members HERE at W.O. in my own rambles about the Internet (researching BTC). I was not dragged here..., the Remnant found me. Svetski seems to be onto something. Highly recommended. |
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I had one of the old BitBoxes a couple of years ago, and liked it well enough although it (the unit itself) ran fairly hot making me wonder...
IMO, competition in the HW space is a good thing. I really do like my Trezor Model T, but would like comments on the new generation of BitBox.
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just sold a piece for 60k
Last night I sold a small sliver of my BTC stack at some $59,500. Taking profits is not a bad thing for essentially any investment that has had a sharp price run-up. OK, my timing is not great, I have known and mentioned that here many times. * * * The problem I have with being "All-Inn" with just BTC is that there are unknown risks out there ("Black Swans"). Most (not all of course) of my thinking follows that of most of W.O. But with Black Swans (by definition not knowable), there really are unknown risks. Unknown risks are why I diversify. That said, I agree with Saylor (and the band of warriors here at W.O.) that BTC is likely (note word "likely") the Apex Asset. But, you never know...: "The Ten Thousand Things rise and fall without cease" -- Lao Tse EDIT: just saw BTC price cross $61,000. "Shoulda sold that slice this morning" Ah well, I did write that my timing is not the best... |
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We are back from a long vacation to a BTC friendly country in Europe, other than doing some minor stacking, I'll leave it at that.
Bitcoin Magazine often has interesting pieces to read. At bitbo.io (perhaps my favorite BTC site, also like mempool.space) they list articles that people may like. Michael Saylor, a REAL BTC MAXIMALIST, is interviewed at length by Alex McShane, and presents his view that Bitcoin is the "Apex Asset". He makes a great case. He discusses gold, various forms of real estate, companies (bonds & stock, even his own MicroStrategy). He even briefly discusses Texas ranch land, I copy his quote:
"On the other hand, if you’re living in Texas and you like Texas, you might feel like it’s okay to own 100 acres there. You feel safe in Texas. You have a gun. You have some horses. You have a tractor, or a truck, or a Jeep. You don’t need to smuggle the gun, the Jeep, and the horses across the border tomorrow. So you can own that property. If you think Texas is not going to impair the value of your land you might feel okay there. I feel like the circumstances of the individual and common sense will dictate your property distributions. But the apex property is always Bitcoin."
[Just for the helpful to me BobLawblaw, trying to pay ya back for pointing me to Gemini and helping to secure our two grandsons' futures]
[And sometimes I really miss living in Texas]
I noted up-thread here at W.O. discussion of various ways we interact with BTC, whether as beginners, somewhat knowledgeable folks, and experts. I would agree that having lots of options, especially easy ones for beginners is a very good thing. Saylor agrees that a thousand flowers should bloom.
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Poker Player, Richy_T
I am very happy with my strategy. It has allowed me to grow some extra wealth that I would otherwise have missed out on if it were not for BTC. For a small investment, all in all. Low risk matters. Taking profit matters...
Keep in mind that only a small percentage of people, both US and worldwide, have ever bought into Bitcoin. Hence, a very small number of winners.
I feel like I am a big winner. No regrets. BTC has brought wealth to my grandchildren.
* * *
The following thought might be more appropriate in some other thread, but I have long wondered whether or not BTC gains by all/most of us represent some kind of "Zero Sum Game", looking at the larger view. That is, a win for me (or us) would be a LOSS for someone else?
My inclination is to think "No", that this is not a Zero Sum arena, as it is new technology that has great promise.
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... Ludmilla_rose1995 It took me a while to find my way here to your thread, but YES, I am very grateful for many things. One of the very best threads I have found here at bitcointalk. Thank you for starting this!  I learned in recent years that you (anyone) can increase your own personal power to have more gratitude in life, really that works for almost any positive goal that you may want... Gratitude is spiritually very powerful. Ask, and you will receive. Search, and you will find. Gentle but persistent positive thinking yields results (given some time and serious effort). You don't even have to fully believe, you can "fake it 'til you make it." I learned this years ago. And once you start making progress, making further progress becomes easier. This is all testable, give some sincere effort to be grateful (and/or otherwise positive thoughts to change your life), you will almost surely see positive change. It has worked for me. And there is no downside to gratitude or reverence or spiritual thinking in your life. |
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... How much of your portfolio should you put into BTC? NICE article here on that very subject: https://bitcoinmagazine.com/culture/how-much-portfolio-allocate-bitcoin(TL;DR, it depends) Me? For a long time (say post 2017, in 2017 I cashed out as well, from 2018 - 2020 I bought), I aimed for +/- 1% of my net in BTC (none in alts). As BTC rose, I would on occasion re-balance my portfolio by selling (or trading BTC for gold). Typically during 2020 (and especially 2021) the BULL MARKET ran away from me so fast that it was hard to balance it back down to 1%. But, that's OK, good, in a bull market. Right now I am roughly 1.5%. DO keep in mind that even my HODLing 1% (subject to irregular re-balancing) in the past year and a half or so has yielded me well over 1% in my whole portfolio. I will have to do the numbers, but even just a HODLing at 1% has probably grown my portfolio perhaps 4% - 5%, not bad considering I have been trying to keep BTC at 1%... Edit: Big bull markets make everyone look smart... |
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Money can't buy you happiness they say. But it can buy so many nice things (including lambos, hookers and blow) that can make your life at least a tiny bit happier...  sure, money lets you avoid a lot of misery. but happiness is where you find it, and can cost nothing. True dat. |
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... First, some news, this is the best article I've seen re BTC supply running/to run slow that's easy to understand: https://bitcoinmagazine.com/markets/impending-bitcoin-supply-shock* * * Even though I have ridden out various UP and DOWN cycles, as well as very sharp spikes & dips, I still have been (somewhat) surprised by this latest move to (over) $46k since the last bottoms of some $30k... That is a 50% bounce off that local low. Not bad. Interesting how that has happened despite (in spite of?) the hard-to-understand crypto machinations of the "Infrastructure" bill that CONgress wants to now pass. Not knowin' nuthin' here (esp. 'bout teknikal analisis), but I think that BTC has impressive strength going forward. JJG has always shown good sense re n00bs looking to enter. Buy in small-ish quantities, DCA. Recognize your overall financial situation (so if you sell some, like I did to fund-up our second grandchild) you can, and without guilt. Balance in one's financial affairs is a virtue. Took some of his good advice, some, as my situation is very different than most WO-ers. Thanks, JJG. Special shout-out to Sr. Bob the lawyer rancher, whose help helped me nail down a better future for my progeny as well, GEMINI came in handy... Sincere thanks. Also, while I am shouting-out, sincere thanks to Dabs as well, as I have added the "plank" (and a variation on the theme) to my own exercise program. EDIT: Other news. Anonymint has appeared at Zero Hedge under that name. Has to be him (Armstrong, "1s" good, "3s" and "bc1q's" bad, etc.). I saw a comment by him just yesterday, but is apparently new on that forum. |
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... Moar consolidation in the Bitcoin industry. LibertyX is that company that struck a deal with CVS and 7-Eleven to allow buying BTC for cash. I wrote positively about buying BTC from them at a local CVS some months ago. They are apparently the largest BTM operator as well. Link: https://bitcoinmagazine.com/business/ncr-acquires-bitcoin-atm-provider-libertyxI have no idea what this might mean for BTC price speculation though.. |
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Phil's right (erm, so far)! Gonna have to start the clock again when BTC is back over $40k.
$39,610 as I write.
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Wrong. Sorry guys.
Bitcoin will not be able to stay above $45K for 10 consecutive days ever again.
Better sell. Science and maths. You know the drill.
No you have to wait for the 35k to drop. then you can do the 45k thread. my 40k thread has replaced the 30k thread since it is dead. August 4 knocks off the 35k thread. you can jump in with your 45k thread then. We must be orderly about this.  Incorrect. Orderly has NOTHING to do with Science or Maths. In fact, it might be better to change the thread to $50k. Sorry, just stating Facts. |
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and buddy is starting his lift towards 45k
It won't stay over $45k for 10 days. Ever. See Philip's nearby thread for my explanation. |
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