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Author Topic: I am pretty confident we are the new wealthy elite, gentlemen.  (Read 507929 times)
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June 11, 2014, 10:41:17 PM
 #1561

Can't believe I read through the whole thread but it was quite entertaining and informative, I currently only have 0.02 Bitcoin but I'm looking to dump whatever I have right now into buying as much Bitcoin as possible (only a student at the moment so it won't amount for very much Cheesy). I regret not looking into Bitcoin when I heard murmurs about it a couple of years back but oh well, I believe we're still heading full speed ahead and its better late than never!

- from one future wealthy elite to another  Grin
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June 11, 2014, 10:48:38 PM
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Question....how much one would need to have (in BTC) now, to be considered wealthy men in future....2-3 years from now? Would 1 BTC be enough for reasonable comfy life? Or maybe 10? Or less?
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June 11, 2014, 10:51:44 PM
 #1563

Question....how much one would need to have (in BTC) now, to be considered wealthy men in future....2-3 years from now? Would 1 BTC be enough for reasonable comfy life? Or maybe 10? Or less?

Answer.... Depends how high Bitcoin goes obviously...which is speculation.
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June 11, 2014, 11:04:06 PM
 #1564

Question....how much one would need to have (in BTC) now, to be considered wealthy men in future....2-3 years from now? Would 1 BTC be enough for reasonable comfy life? Or maybe 10? Or less?

You need at least 10 BTC to be invited on Satoshi's spaceship when he returns.  Grin

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June 11, 2014, 11:11:57 PM
 #1565

Can't believe I read through the whole thread but it was quite entertaining and informative, I currently only have 0.02 Bitcoin but I'm looking to dump whatever I have right now into buying as much Bitcoin as possible (only a student at the moment so it won't amount for very much Cheesy). I regret not looking into Bitcoin when I heard murmurs about it a couple of years back but oh well, I believe we're still heading full speed ahead and its better late than never!

- from one future wealthy elite to another  Grin

I also regret not looking into bitcoin when it was but a murmur. If I did, I don't know what would have happened to me by now.
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June 12, 2014, 01:28:24 AM
 #1566

Can't believe I read through the whole thread but it was quite entertaining and informative, I currently only have 0.02 Bitcoin but I'm looking to dump whatever I have right now into buying as much Bitcoin as possible (only a student at the moment so it won't amount for very much Cheesy). I regret not looking into Bitcoin when I heard murmurs about it a couple of years back but oh well, I believe we're still heading full speed ahead and its better late than never!

- from one future wealthy elite to another  Grin

Yeah... great... let us know how your investment goes. 

I think that 10 BTC would be a good aspiration amount at today's prices and depending how many financial resources you can assemble, but I also recall my student days, and I recall that during those days I did NOT have too much spare cash at my disposal.  It's kind of hard to suggest that you leverage in any way, even though it sounds like you plan to leverage.  For example, you could leverage a student loan, and expect to pay it back over the course of paying it back over 30 years... ... yet, to each his own about what risks he believe to be manageable and acceptable.

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June 12, 2014, 02:14:12 AM
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Question....how much one would need to have (in BTC) now, to be considered wealthy men in future....2-3 years from now? Would 1 BTC be enough for reasonable comfy life? Or maybe 10? Or less?

Answer.... Depends how high Bitcoin goes obviously...which is speculation.

The answer about quantity of BTC also depends upon IJudoTina's financial/lifestyle expectations.....   Personally, I believe one should NOT just accumulate 10 BTC, for example, and then just sit and wait.  I think that a person should continue to grow his/her BTC holdings with available fiat and to the extent s/he feels comfortable continuing to invest into BTC with a dollar cost average methodology.... a little bit every paycheck.


Frequently, I think of these kinds of quantity of investment matters in terms of passive income that will be generated by the investment, and how much cash does the investor believe s/he needs to generate a sufficient passive income to live comfortably within his/her means... that may be $1,000 for some people and $20,000 for others. 

Personally, at the moment, I am o.k. mostly in the $3 to $5k per month range... especially if that income is largely passive... However,  I could live on less, if needed, yet I would NOT be too comfortable under $3k per month.   Also, I could live on more, and in that regard, I would NOT complain if my passive income were to add up to more than $5K per month - especially, if the income is passive....  For example, if a person has a preference to take 2 or more traveling vacations per year, then how luxurious the vacation or trip could be affected by whether there is sufficient passive income to support such. 

Also, I like to consider my passive income to be truly passive, and NOT eating into the principle.  I consider the principle to be available to me only for emergency purposes... or in cases that the principle has appreciated in value much greater and beyond expectations... ....

An example of an Emergency purpose would be life comforts at the end of life ... he he he.. One inevitable thing about living is death, yet death would likely be more expensive if it were to arrive slowly rather than quickly.  Accordingly, I would prefer to have sufficient resources to assist to alleviate my own suffering, if I were to suffer  some bad luck that would contribute to my experiencing a slow death.

Regarding an asset appreciating much beyond expectations:   Surely, we need to plan ahead to project how much we believe an asset will appreciate (or depreciate).  If an asset appreciates in value much beyond our expectations, then that would also be a reason to dip into the principle b/c such a large amount of principle, in those circumstances, would be deemed no longer necessary to generate an adequate amount of passive income...... in other words the principle is generating an income way beyond needs.  BTC as an investment and a passive income generator is likely to fall into this category of appreciating beyond expectations (unless you set your expectations too high).    For example, one could project a 1% per month appreciation, and then BTC appreciates 20% per month (beyond expectations).  On the other hand, one could project to create expectations that are too high by projecting 20% per month appreciation, and then BTC only returns 1% per month.   

I am much more comfortable to set my expectations low and then to receive a bonus reward or return, rather than setting my expectations too high, and then getting clobbered.

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June 12, 2014, 02:32:16 AM
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Question....how much one would need to have (in BTC) now, to be considered wealthy men in future....2-3 years from now? Would 1 BTC be enough for reasonable comfy life? Or maybe 10? Or less?

Answer.... Depends how high Bitcoin goes obviously...which is speculation.

The answer about quantity of BTC also depends upon IJudoTina's financial/lifestyle expectations.....   Personally, I believe one should NOT just accumulate 10 BTC, for example, and then just sit and wait.  I think that a person should continue to grow his/her BTC holdings with available fiat and to the extent s/he feels comfortable continuing to invest into BTC with a dollar cost average methodology.... a little bit every paycheck.


Frequently, I think of these kinds of quantity of investment matters in terms of passive income that will be generated by the investment, and how much cash does the investor believe s/he needs to generate a sufficient passive income to live comfortably within his/her means... that may be $1,000 for some people and $20,000 for others. 

Personally, at the moment, I am o.k. mostly in the $3 to $5k per month range... especially if that income is largely passive... However,  I could live on less, if needed, yet I would NOT be too comfortable under $3k per month.   Also, I could live on more, and in that regard, I would NOT complain if my passive income were to add up to more than $5K per month - especially, if the income is passive....  For example, if a person has a preference to take 2 or more traveling vacations per year, then how luxurious the vacation or trip could be affected by whether there is sufficient passive income to support such. 

Also, I like to consider my passive income to be truly passive, and NOT eating into the principle.  I consider the principle to be available to me only for emergency purposes... or in cases that the principle has appreciated in value much greater and beyond expectations... ....

An example of an Emergency purpose would be life comforts at the end of life ... he he he.. One inevitable thing about living is death, yet death would likely be more expensive if it were to arrive slowly rather than quickly.  Accordingly, I would prefer to have sufficient resources to assist to alleviate my own suffering, if I were to suffer  some bad luck that would contribute to my experiencing a slow death.

Regarding an asset appreciating much beyond expectations:   Surely, we need to plan ahead to project how much we believe an asset will appreciate (or depreciate).  If an asset appreciates in value much beyond our expectations, then that would also be a reason to dip into the principle b/c such a large amount of principle, in those circumstances, would be deemed no longer necessary to generate an adequate amount of passive income...... in other words the principle is generating an income way beyond needs.  BTC as an investment and a passive income generator is likely to fall into this category of appreciating beyond expectations (unless you set your expectations too high).    For example, one could project a 1% per month appreciation, and then BTC appreciates 20% per month (beyond expectations).  On the other hand, one could project to create expectations that are too high by projecting 20% per month appreciation, and then BTC only returns 1% per month.   

I am much more comfortable to set my expectations low and then to receive a bonus reward or return, rather than setting my expectations too high, and then getting clobbered.

Excellent strategy. Are there any BTC investments that you recommend? As I accumulate I am always looking for relatively safe ways to grow my holdings. 
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June 12, 2014, 02:56:21 AM
 #1569

I will not get tired of saying it, if Bitcoin value drops or get skyrocket, maybe we are very very rich or not, but the truly important thing is

that as all the new creations, the Bitcoin will cause the entire humanity to evolve and make our lifes easier, as the recent social Networks

and a endless quantity of inventions
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June 12, 2014, 03:30:26 AM
 #1570

Question....how much one would need to have (in BTC) now, to be considered wealthy men in future....2-3 years from now? Would 1 BTC be enough for reasonable comfy life? Or maybe 10? Or less?

Answer.... Depends how high Bitcoin goes obviously...which is speculation.

The answer about quantity of BTC also depends upon IJudoTina's financial/lifestyle expectations.....   Personally, I believe one should NOT just accumulate 10 BTC, for example, and then just sit and wait.  I think that a person should continue to grow his/her BTC holdings with available fiat and to the extent s/he feels comfortable continuing to invest into BTC with a dollar cost average methodology.... a little bit every paycheck.


Frequently, I think of these kinds of quantity of investment matters in terms of passive income that will be generated by the investment, and how much cash does the investor believe s/he needs to generate a sufficient passive income to live comfortably within his/her means... that may be $1,000 for some people and $20,000 for others. 

Personally, at the moment, I am o.k. mostly in the $3 to $5k per month range... especially if that income is largely passive... However,  I could live on less, if needed, yet I would NOT be too comfortable under $3k per month.   Also, I could live on more, and in that regard, I would NOT complain if my passive income were to add up to more than $5K per month - especially, if the income is passive....  For example, if a person has a preference to take 2 or more traveling vacations per year, then how luxurious the vacation or trip could be affected by whether there is sufficient passive income to support such. 

Also, I like to consider my passive income to be truly passive, and NOT eating into the principle.  I consider the principle to be available to me only for emergency purposes... or in cases that the principle has appreciated in value much greater and beyond expectations... ....

An example of an Emergency purpose would be life comforts at the end of life ... he he he.. One inevitable thing about living is death, yet death would likely be more expensive if it were to arrive slowly rather than quickly.  Accordingly, I would prefer to have sufficient resources to assist to alleviate my own suffering, if I were to suffer  some bad luck that would contribute to my experiencing a slow death.

Regarding an asset appreciating much beyond expectations:   Surely, we need to plan ahead to project how much we believe an asset will appreciate (or depreciate).  If an asset appreciates in value much beyond our expectations, then that would also be a reason to dip into the principle b/c such a large amount of principle, in those circumstances, would be deemed no longer necessary to generate an adequate amount of passive income...... in other words the principle is generating an income way beyond needs.  BTC as an investment and a passive income generator is likely to fall into this category of appreciating beyond expectations (unless you set your expectations too high).    For example, one could project a 1% per month appreciation, and then BTC appreciates 20% per month (beyond expectations).  On the other hand, one could project to create expectations that are too high by projecting 20% per month appreciation, and then BTC only returns 1% per month.   

I am much more comfortable to set my expectations low and then to receive a bonus reward or return, rather than setting my expectations too high, and then getting clobbered.

Excellent strategy. Are there any BTC investments that you recommend? As I accumulate I am always looking for relatively safe ways to grow my holdings. 

My only investments into BTC have been directly into the currency.  Surely, there may be ways to multiply your possibilities for growth (and risk) by involving yourself in BTC infrastructure investments.  So far, I am NOT looking at or thinking about any of those kinds of BTC infrastructure investments.

I only began investing in BTC in November 2013, at the high of the last price bubble, about $1,200 through Localbitcoins.com.  Since I recognized the existence of a recent exorbitant increase in BTC prices, I began my BTC investment with a fairly conservative dollar cost averaging strategy, and with some frontloading, and I calculated that I would make my initial investment(s) over 6 months, rather than front-loading all of my investment at that then current price point.  Accordingly, my first BTC was $1,200 through localbitcoins.com; however, currently my average per BTC is about $614, including transaction fees. 

Surely, my average investment price per BTC could have been lower than $614 (and at one point, in late May 2014 my average price per BTC was $595), but it could have been higher, as well, but I have been doing my best under the circumstances (especially b/c some of my fiat for the investment in BTC became available ONLY recently).  Also over the last several months, some of the timing of my BTC purchases had coincided with my receipt of fiat, the availability of fiat, or my allocation of fiat that I could spend for that time period. 

Hopefully, my response addresses your question.    Smiley







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June 12, 2014, 06:29:05 AM
 #1571

Question....how much one would need to have (in BTC) now, to be considered wealthy men in future....2-3 years from now? Would 1 BTC be enough for reasonable comfy life? Or maybe 10? Or less?

Answer.... Depends how high Bitcoin goes obviously...which is speculation.

The answer about quantity of BTC also depends upon IJudoTina's financial/lifestyle expectations.....   Personally, I believe one should NOT just accumulate 10 BTC, for example, and then just sit and wait.  I think that a person should continue to grow his/her BTC holdings with available fiat and to the extent s/he feels comfortable continuing to invest into BTC with a dollar cost average methodology.... a little bit every paycheck.


Frequently, I think of these kinds of quantity of investment matters in terms of passive income that will be generated by the investment, and how much cash does the investor believe s/he needs to generate a sufficient passive income to live comfortably within his/her means... that may be $1,000 for some people and $20,000 for others. 

Personally, at the moment, I am o.k. mostly in the $3 to $5k per month range... especially if that income is largely passive... However,  I could live on less, if needed, yet I would NOT be too comfortable under $3k per month.   Also, I could live on more, and in that regard, I would NOT complain if my passive income were to add up to more than $5K per month - especially, if the income is passive....  For example, if a person has a preference to take 2 or more traveling vacations per year, then how luxurious the vacation or trip could be affected by whether there is sufficient passive income to support such. 

Also, I like to consider my passive income to be truly passive, and NOT eating into the principle.  I consider the principle to be available to me only for emergency purposes... or in cases that the principle has appreciated in value much greater and beyond expectations... ....

An example of an Emergency purpose would be life comforts at the end of life ... he he he.. One inevitable thing about living is death, yet death would likely be more expensive if it were to arrive slowly rather than quickly.  Accordingly, I would prefer to have sufficient resources to assist to alleviate my own suffering, if I were to suffer  some bad luck that would contribute to my experiencing a slow death.

Regarding an asset appreciating much beyond expectations:   Surely, we need to plan ahead to project how much we believe an asset will appreciate (or depreciate).  If an asset appreciates in value much beyond our expectations, then that would also be a reason to dip into the principle b/c such a large amount of principle, in those circumstances, would be deemed no longer necessary to generate an adequate amount of passive income...... in other words the principle is generating an income way beyond needs.  BTC as an investment and a passive income generator is likely to fall into this category of appreciating beyond expectations (unless you set your expectations too high).    For example, one could project a 1% per month appreciation, and then BTC appreciates 20% per month (beyond expectations).  On the other hand, one could project to create expectations that are too high by projecting 20% per month appreciation, and then BTC only returns 1% per month.   

I am much more comfortable to set my expectations low and then to receive a bonus reward or return, rather than setting my expectations too high, and then getting clobbered.

Excellent strategy. Are there any BTC investments that you recommend? As I accumulate I am always looking for relatively safe ways to grow my holdings. 

My only investments into BTC have been directly into the currency.  Surely, there may be ways to multiply your possibilities for growth (and risk) by involving yourself in BTC infrastructure investments.  So far, I am NOT looking at or thinking about any of those kinds of BTC infrastructure investments.

I only began investing in BTC in November 2013, at the high of the last price bubble, about $1,200 through Localbitcoins.com.  Since I recognized the existence of a recent exorbitant increase in BTC prices, I began my BTC investment with a fairly conservative dollar cost averaging strategy, and with some frontloading, and I calculated that I would make my initial investment(s) over 6 months, rather than front-loading all of my investment at that then current price point.  Accordingly, my first BTC was $1,200 through localbitcoins.com; however, currently my average per BTC is about $614, including transaction fees. 

Surely, my average investment price per BTC could have been lower than $614 (and at one point, in late May 2014 my average price per BTC was $595), but it could have been higher, as well, but I have been doing my best under the circumstances (especially b/c some of my fiat for the investment in BTC became available ONLY recently).  Also over the last several months, some of the timing of my BTC purchases had coincided with my receipt of fiat, the availability of fiat, or my allocation of fiat that I could spend for that time period. 

Hopefully, my response addresses your question.    Smiley








It did. I appreciate you taking time to respond. I am sort of a scrounger with bit coin so my dollar costs are quite low for sure. I hit the faucets hard at first then found a set of old asic rev2 blades at a garage sale for less than 50 bucks. My purchases have usually been to replace bit coin I have spent to support merchants but once my mortgage closes next month I will be buying a regular amount each month. I keep hoping that the price doesn't go up too much before then. It took real will power to leave my savings alone when the price got so low in April. 
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June 12, 2014, 06:30:51 AM
 #1572

Boom! Bitcoin goes to Wall Street.
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June 12, 2014, 06:58:39 AM
 #1573

Question....how much one would need to have (in BTC) now, to be considered wealthy men in future....2-3 years from now? Would 1 BTC be enough for reasonable comfy life? Or maybe 10? Or less?

Answer.... Depends how high Bitcoin goes obviously...which is speculation.

The answer about quantity of BTC also depends upon IJudoTina's financial/lifestyle expectations.....   Personally, I believe one should NOT just accumulate 10 BTC, for example, and then just sit and wait.  I think that a person should continue to grow his/her BTC holdings with available fiat and to the extent s/he feels comfortable continuing to invest into BTC with a dollar cost average methodology.... a little bit every paycheck.


Frequently, I think of these kinds of quantity of investment matters in terms of passive income that will be generated by the investment, and how much cash does the investor believe s/he needs to generate a sufficient passive income to live comfortably within his/her means... that may be $1,000 for some people and $20,000 for others. 

Personally, at the moment, I am o.k. mostly in the $3 to $5k per month range... especially if that income is largely passive... However,  I could live on less, if needed, yet I would NOT be too comfortable under $3k per month.   Also, I could live on more, and in that regard, I would NOT complain if my passive income were to add up to more than $5K per month - especially, if the income is passive....  For example, if a person has a preference to take 2 or more traveling vacations per year, then how luxurious the vacation or trip could be affected by whether there is sufficient passive income to support such. 

Also, I like to consider my passive income to be truly passive, and NOT eating into the principle.  I consider the principle to be available to me only for emergency purposes... or in cases that the principle has appreciated in value much greater and beyond expectations... ....

An example of an Emergency purpose would be life comforts at the end of life ... he he he.. One inevitable thing about living is death, yet death would likely be more expensive if it were to arrive slowly rather than quickly.  Accordingly, I would prefer to have sufficient resources to assist to alleviate my own suffering, if I were to suffer  some bad luck that would contribute to my experiencing a slow death.

Regarding an asset appreciating much beyond expectations:   Surely, we need to plan ahead to project how much we believe an asset will appreciate (or depreciate).  If an asset appreciates in value much beyond our expectations, then that would also be a reason to dip into the principle b/c such a large amount of principle, in those circumstances, would be deemed no longer necessary to generate an adequate amount of passive income...... in other words the principle is generating an income way beyond needs.  BTC as an investment and a passive income generator is likely to fall into this category of appreciating beyond expectations (unless you set your expectations too high).    For example, one could project a 1% per month appreciation, and then BTC appreciates 20% per month (beyond expectations).  On the other hand, one could project to create expectations that are too high by projecting 20% per month appreciation, and then BTC only returns 1% per month.   

I am much more comfortable to set my expectations low and then to receive a bonus reward or return, rather than setting my expectations too high, and then getting clobbered.

Excellent strategy. Are there any BTC investments that you recommend? As I accumulate I am always looking for relatively safe ways to grow my holdings. 

My only investments into BTC have been directly into the currency.  Surely, there may be ways to multiply your possibilities for growth (and risk) by involving yourself in BTC infrastructure investments.  So far, I am NOT looking at or thinking about any of those kinds of BTC infrastructure investments.

I only began investing in BTC in November 2013, at the high of the last price bubble, about $1,200 through Localbitcoins.com.  Since I recognized the existence of a recent exorbitant increase in BTC prices, I began my BTC investment with a fairly conservative dollar cost averaging strategy, and with some frontloading, and I calculated that I would make my initial investment(s) over 6 months, rather than front-loading all of my investment at that then current price point.  Accordingly, my first BTC was $1,200 through localbitcoins.com; however, currently my average per BTC is about $614, including transaction fees. 

Surely, my average investment price per BTC could have been lower than $614 (and at one point, in late May 2014 my average price per BTC was $595), but it could have been higher, as well, but I have been doing my best under the circumstances (especially b/c some of my fiat for the investment in BTC became available ONLY recently).  Also over the last several months, some of the timing of my BTC purchases had coincided with my receipt of fiat, the availability of fiat, or my allocation of fiat that I could spend for that time period. 

Hopefully, my response addresses your question.    Smiley



It did. I appreciate you taking time to respond. I am sort of a scrounger with bit coin so my dollar costs are quite low for sure. I hit the faucets hard at first then found a set of old asic rev2 blades at a garage sale for less than 50 bucks. My purchases have usually been to replace bit coin I have spent to support merchants but once my mortgage closes next month I will be buying a regular amount each month. I keep hoping that the price doesn't go up too much before then. It took real will power to leave my savings alone when the price got so low in April. 


Ron: 

We may be considering some of this similarly, yet of course the life circumstances of people differ, and even sometimes our ability to have enough time to research and to feel comfortable with our investment choice(s) differ.

I claim to attempt to keep my investments somewhat diversified to my needs, preferences and risk tolerances.  These factors evolve somewhat slowly over time, yet at any snapshot in time, I would assert that diversification has been one of my goals.

My initial involvement into BTC investing trickled, and some of that had to do with my scepticisms concerning the direction of the price at the time that I started; however, in the last seven months the amount of my investment and stake into bitcoin has increased from a fraction of 1% of my total invested quasi-liquid assets to nearly 7% of my total quasi-liquid assets.    In the past few months, 100% of my newly available and disposable investment money has been going into bitcoin.  By the end of the year, I expect that bitcoin will become about 10-15% of my total quasi-liquid investments.  And, if bitcoin appreciates considerably, I will consider allowing bitcoin to become well more than 50% of my total quasi-liquid investments.

I expect the percentage of my investment into bitcoin to continue to fluctuate based on my monitoring and reassessing the whole investment landscape and how I feel that bitcoin and my involvement fits into that. .. though at the moment, I am thinking that I want to be diversified somewhat out of the dollar (and dollar related products), and achieving a portfolio that is 50% out of the dollar may be an o.k. level of diversification for me and my feelings.





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June 12, 2014, 10:40:56 AM
 #1574

Bitcoin goes to Wall street, new etf will born and we will be all rich !  Grin


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June 12, 2014, 10:56:10 AM
 #1575

@JayJuanGee
I did not expect explanation like that after first one i got. Thanks.
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June 12, 2014, 01:37:06 PM
 #1576

@JayJuanGee
I did not expect explanation like that after first one i got. Thanks.


Thank you for your earlier post, b/c it served as a spring board for discussing expectations regarding how much BTC is enough and then potentially how to get there (by investing all your resources and waiting or investing gradually and methodically and continuously reassessing the situation).  I am more of the second approach, and I am sure that there are others who may perceive of their investment strategy differently from me or might employ some other strategy. 

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June 12, 2014, 04:29:16 PM
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Quote
Question....how much one would need to have (in BTC) now, to be considered wealthy men in future....2-3 years from now? Would 1 BTC be enough for reasonable comfy life? Or maybe 10? Or less?

Quote
...I only began investing in BTC in November 2013, at the high of the last price bubble, about $1,200 through Localbitcoins.com.  Since I recognized the existence of a recent exorbitant increase in BTC prices, I began my BTC investment with a fairly conservative dollar cost averaging strategy, and with some frontloading, and I calculated that I would make my initial investment(s) over 6 months, rather than front-loading all of my investment at that then current price point.  Accordingly, my first BTC was $1,200 through localbitcoins.com; however, currently my average per BTC is about $614, including transaction fees.

Quote
I expect the percentage of my investment into bitcoin to continue to fluctuate based on my monitoring and reassessing the whole investment landscape and how I feel that bitcoin and my involvement fits into that. .. though at the moment, I am thinking that I want to be diversified somewhat out of the dollar (and dollar related products), and achieving a portfolio that is 50% out of the dollar may be an o.k. level of diversification for me and my feelings.

FWIW these comments are largely in line with my own situation & experience as well... but a bit different too, LOL.

I too only finally sat up and paid attention to bitcoin (after having heard about it, vaguely, more than a year earlier) starting around last October.

I remember reading it was currently worth $400 and thinking, "I bet it'll go to $500 pretty soon" being as how that's a sort of psychological price point.  So, I tried to sign up on MtGox to buy some bitcoin, but their stupid registration approval process was running so slow, I never got a chance to do anything, all the way thru the big run-up in December.  Just sat there watching it and thinking I missed out.  In hindsight however, thank GOD that I did not put my money into GOX, LOL...

Anyway, after doing more research I finally found COINBASE and started buying around end of December, early January.  My average price has also gone from $700-ish to like $550-ish at the moment.

My goal is also to get 50 BTC piled up ASAP, and after some mis-steps I'm currently in the 20-ish ballpark.  I was as high as 40 at one point but didn't manage to stay there, unfortunately... (long story.)

Anyway, my question for you guys is, at the moment I believe I could get to "40" again, immediately, but ONLY if I totally liquidate every other asset that I currently hold... mainly some gold & silver but also "cash on hand" for "emergency" etc that's usually left sitting totally unproductive in the stupid bank, just left there for convenience, and maybe selling off some unused computer gear.

Basically, and contrary to being 'diversified' as is usually good solid advice, I could get to 40 again TODAY (i.e. nearly my goal of 50, then maybe accumulate the last 10 by trading a bit over the next year or two) by basically "GOING ALL-IN" right now with BITCOIN, almost totally exclusively.

The reason I believe I need 50 is because, to be minimally financially secure in my current lifestyle I believe my wife and I (no kids) will need a retirement portfolio asset base of about $500,000 net worth equivalent.

A half-million dollars net worth equivalent, would be my basic "relax and sleep soundly at night" number, in other words.

I believe bitcoin COULD do this for me IF ONLY there is at least JUST ONE MORE cycle of the 10X yearly wave, that's repeated 6 times already so far over the last 6 years since bitcoin was invented.

Moreover, I am not aware of any other asset or business opportunity, available right now, that even MIGHT be able to achieve this.

And even if BTC never achieves the last two projected 10X wave/cycles to $100K or $1M million... if it only gets to $10K, but I own 50 of 'em?  Well, there we are. $500K. Done and done.

Then if Risto and SlipperySlope, etc are RIGHT, and it keeps going, from there?  To maybe $50,000,000?  Well All Right Then!  No Problemo! Smiley

In that case, I got my eye on a nice private island near Vanuatu which I imagine would be very pleasant for retirement  Grin

But still, going ALL-IN is pretty scary, and risky too... kinda.  But y'know kinda it's NOT EITHER, since bitcoin just FEELS to ME like I remember things "felt" when I first saw Microsoft Windows running on a DOS computer, then again when I first used e-mail, then when the first Mosaic web browser appeared for accessing the "WWW" Internet.

I really just have a gut instinct, feeling, perception, that bitcoin's gonna be the same phenomenon.

SO... Aaaaaaa.... what to do, what to do?  
Go "ALL IN" or NOT?  
How much is enough???  
"Aaaaaaaa"  LOL

Anyone else decided this for themselves, either PRO or CON???   Undecided Undecided Undecided Undecided Undecided
johnatan32
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June 12, 2014, 05:31:48 PM
 #1578

Not really thought about what I would do if money profits of Bitcoin, you gave me my dream theme night Tongue
Bit_Happy
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June 12, 2014, 06:52:55 PM
 #1579

I will not get tired of saying it, if Bitcoin value drops or get skyrocket, maybe we are very very rich or not, but the truly important thing is

that as all the new creations, the Bitcoin will cause the entire humanity to evolve and make our lifes easier, as the recent social Networks

and a endless quantity of inventions

Price speculation is "fun and natural" for many people. At the same time the real reason I (and many others are here) is because Bitcoin is an amazing project that is changing the world.  Smiley

15DYJpWJe9H1YofsNQbP9JEWWNn7XPZgbS
validium
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June 12, 2014, 07:37:51 PM
 #1580

Hmmm i always find this to be one of the most interesting threads on this forum  Cool. I bet the OP wakes up everyday and sings i woke up in a new buggati
wish it would get stickied

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