Thought I'd share this, made me optimistic, like a toke from the hopium bong:
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Receding volatility and little price action may be frustrating for BTC traders, but the hardcore HODLers keep calm and continue hodling. The long-term Bitcoin's fundamentals still imply that the cryptocurrency has strong bullish potential; the only question is when it will realize it.
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* psycodad sees a slight chance he will not be forced to flip burgers by 2025
I am going to speculate that you have been accumulating BTC at minimum of about $100 per month for the past 5 years - and therefore you have already accumulated a BTC stash of at least more than 4 BTC.....
(See this BTC DCA estimator, currently set at 5 years but can be adjusted to view different possible timelines) If you keep accumulating BTC for another 5 years, maybe, at minimum, you could accumulate another 1 to 2 BTC, so therefore you should have at least 5 BTC, and perhaps 6 or more BTC.
Maybe flipping burgers will still be necessary, depending on how much capital you need, and whether I have underestimated the size of your stash, and of course, there are no guarantees that bitcoin is going to appreciate more than 10x from here in the next 5 years, even though I would think that you have decent odds of two more BTC price cycles that could well get you more than 10x BTC price appreciation.
Seems like you have not provided enough details... Based on the totality of your personal circcumstances and how you anticipate them to be in about 5 years, how much of a BTC price appreciation do you believe that you would need in order to feel comfortable to transition out of burger flippening?
I am sure you will understand that I do not want to disclose too much wrt to amount of BTC owned (I do not want a thug boat with a wrench going after me) but I understand that the way I said this sparked some curiosity on your side which I appreciate as interest in my person/story and that I'll try to satisfy.
I have never bought BTC with fiat until half a year ago. I mined shitcoins(TM) since 2014 and sold them for BTC, LTC and DOGE which I consider good for HODLing over a longer period of time, though mainly BTC. Up until 2017 I mostly made sure to never have more BTC in my wallet than I could afford to lose should it go to zero. The 2017/2018 bull season changed my perspective and made me kind of greedy so I started to stack every single sat and hoped for a quick recovery (that didn't go too well as you all know). Therefor I had to sell a sizeable amount of BTC to pay invoices during the last crypto winter - at worst times even at 3k.
We went into partial FuckYou mode this spring because the missus and me could now afford a few years living a very frugal but happy life on low income and fiat reserves acquired through a property sale and because we are both fucking sick of the
corporate world nowadays (read: not good at lying at customers, blaming others successfully for your failures and making yourself look much better than you are and not liking endless and meaningless bullshit bingo meetings with people that love to hear themselves talking while avoiding real work as best as they can).
I ran my own business for over 25yrs but it seems that nowadays there is no room for no bullshit businesses. People seem to literally expect you to lie at them at every occasion and discount for it, if you don't lie like the others your offering just looks weak since customers are used to discount half of what you said as lies and exaggeration.
That said, in ~4-5 years we will probably have to start getting some fiat out i.e. for maintenance on our home. 40-50k in 2024 would make things look pretty nice and a prospect of selling BTC at 100k or more in 2030 would be just marvelous. It basically boils down to when we can afford to forego completely the low income we still have.
If things age not so well until 2025, then I'd have to figuratively consider to wear a shirt with a capital yellow M on it for the night shift (ugly old geezers only get to serve at the drive-in counter at night when you can't see how old and ugly they really are) or have some wealthy relative fatally miss a step on the stairways (j/k, I have no wealthy relatives). In reality it will just delay the full FuckYou mode for longer than we hoped and wished for.
I understand that this is a very risky life plan, but then again SWMBO and me believe in fiat becoming more and more worthless over time and at the same time BTC becoming even more scarce and in demand as store of value than it already is.
Also in my whole business life all the risks I took seemed in hindsight always higher with a lesser chance of great profitability than it now looks with BTC. In short, just sitting on our hands for some years seems like the most profitable business plan I ever came up with.
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