Btw I thing my friend told me at 350-ish = he Said imagine this thing could rise crazy high with only a 10% chance of succeeding.... Then you must invest, and for him the % of success where much higher but nontheless imo you already should invest with thinking this.... might be b00ze talking now, and F*** mindrust go all-in bro, be more happy with your wealth in BTC as in crypto especially when there are no unexpected costs looking around the corner....
Personally, it seems to me that mindrust has a pretty decent approach, even though sometimes i do not really agree with him, and also he seems to go through a quite a lot of emotional turmoil regarding what to do exactly, yet I believe that he maintains most of his sanity by keeping some funds in fiat rather than "going all in."
I do recognize that a decent number of people do kick themselves on a regular basis asserting that they should have gone all in at time x or time y or time z, and they had the money to do so, but they did not have the balls. Seems like those people would be easily shaken too, so even though each of us may have tendencies to second guess ourselves in this regard, we have to balance an investment strategy and approach for the present, and not regretting about the past, and our present assessment has to prepare ourselves at each present time for either UP or DOWN, so in that regard, it comes off as way too foolish in the gambling direction to be going "all in" or anywhere close to "all in" when a guy (or gal) is hardly even close to confident regarding bitcoin's price direction - short term, medium term or even trepidations about long term.
I do think mindrust absolutely knows what he's doing..... but just always waiting for again lower the then push the pedal and invest the total reserved amount of FIAT is just not how I would do (again thats just me) I would prefer to push forward at whatever reasonable good price moment instead of waiting for the 30-50% drop....
I also prefer to hold more in
BTC as I hold in FIAT.... and if he would buy he's reserved FIAT in
BTC then there is enough time to buy dips with fresh incoming FIAT afterwards ......
But you must feel very confident and feel good with holding FIAT in
BTC whiteout being emotional touched by its swings.....
Well, maybe we need mindrust to clarify the facts regarding this lil dispute then?
Seems that you and I are reading the facts different.
From my reading, Mindrust had already invested more than 20% of his investible assets into BTC. Of course, the percentage of that overall percentage into BTC has gone up because of BTC's price appreciation and still could be decently over 50% (I don't recall exactly if he disclosed how much for the appreciation, but that is quite a bit)....
I personally would not get too upset if total BTC proportion is higher due to BTC price appreciation as compared with how much he initially put in and how much he is continuing to authorize himself to invest on a regular basis.
The thing is that he continues to keep some kind of reserve fund for investing in BTC which he allocates for both regular dollar cost average buying on a regular basis (no matter what the price) and another portion of his allocated fiat that is dedicated for buying on dips.
I believe that there is nothing wrong with his plan, but there seems to be something wrong with his getting anxious, on a regular basis about his plan. I am starting to think it is his own personal psychological anxiety of feeling that he does not own enough BTC. He wants to be rich before he is rich, so he is trying to rush it based on the total amount of assets that he has. It is a kind of understandable situation. Let's say someone has less than 10 BTC and they have spent a lot of time working his butt off to acquire that stash, but he would feel a whole hell of a lot more comfortable if he had more than 30BTC.. but such a thing is not really very realistic given his total financial situation.
Anyhow, I personally think that he is doing well, given his own circumstances, in spite of his anxiety, and I think that sometimes he does overinvest, too... which also causes him some anxiety that he could have used those same funds to buy lower, if the BTC price subsequently were to go down.
Ultimately probably the question continues to be a kind of wanting to do the best that you can with the amount of resources that you have, and even though he is doing pretty good, he would feel a whole hell of a lot better once BTC goes up more than 10x again or if he were able to increase his BTC stash by something like 3x, and then he would not need BTC to go up 10x in order to achieve similar results in terms of comfort levels regarding overall wealth.
I do recognize that a decent number of people do kick themselves on a regular basis asserting that they should have gone all in at time x or time y or time z, and they had the money to do so, but they did not have the balls. Seems like those people would be easily shaken too
Well, I don't really have anything clever to say.
JJG's post pretty much sums it. If I was all in now, every time btc made x2 against FIAT, it would have created huge pressure on me. I'd rather be chill and hodl for a bit longer to get to my target wealth. I'd probably get to my target much sooner than I'll ever will if went all in...
I could have gone all in when it was $3k, didn't do. Could have done it when it was $5k still didn't. $8k? nope. Now we are at $10k? How many of you really would go all in now? How many? I don't see many hands in the air... Yep that's why I didn't go all in back in the day.
Tbh I don't really know what I am doing.
I just canalize around %20 to %40 of my monthly income to btc.
It just feels right to me that way. %20-%40 monthly is probably what JJG calls "overinvesting" and to mic, I am probably underinvesting.
Last year in Feb I was about to go not all in but I was going to invest %100 of my monthly income and for a few months I actually did it. (now that was overinvesting)
The truth is I don't have many choices.
I don't like to buy stocks and I still wouldn't buy too many of them if they were cheap and luckily for me they are not, which makes my decision a lot easier. Especially in where I live, stocks are a big "NO NO" It is a much bigger casino than Primedice.
Gold? Own a few coins. Which is enough.
What's left? Real Estate? I am not big enough for that stuff and even If I were, I still wouldn't do it. Too much paperwork, too many shit to deal with. Being a landlord of somebody is not something I'd really want but I'll be one eventually if get to my target probably.
Crypto is just so easy. You buy, it goes up, you cash out, pay your taxes and you are free to go. Almost no paperwork, no rules when you trade. Markets are up 24/7 you can cash out any time. It is just great.
If you have a decent investment idea, you are free to tell me about it. I'll look into it.
My own initial investments on crypto more than doubled itself now. I am quite happy with the results but ofc it is not enough for my targeted "fuck you" status.
I am just trying to get to the double digits with btc. If I get to the "fuck you" price before that happens that's fine. If not I'll just be DCA'ing. DCA'ing feels so good. I became an addict. It is like you are doing some groceries for home every month (or week) but you get bitcoins instead. I feel comfortable that way.
Oh look, I became a wordy man too.
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