Seems to me that you are referring to a few important principles that any investor into bitcoin needs to keep in mind,
So the principles that you seem to be suggesting in regards to bitcoin would be 1) don't invest any more than you can afford to lose, 2) live within your means and 3) attempt to build your BTC portfolio over time - without trying to rush it with too many risky practices.
Regarding getting these kinds of returns with any other investment, I don't really buy that.. and again, did I say fuck alt coins?
I never mentioned altcoins. That would be something else personally. In fact, I do not ever invest into altcoins, I merely get paid in them, so all my altcoins (or most of them) were earned.
Even if you were not emphasizing alts, you mentioned them sufficiently enough in order for the matter to be addressed in my response, and my response is not merely at you, but instead an attempt to address the whole issue.. and surely an opportunity for me to assert, several times, that the same principles regarding investing into bitcoin do NOT necessarily apply to alts unless the system is considerably tweaked in terms of the need to have to watch your investment a whole fucking a lot more.
Here's your words:
>>>>>>>You'd think someone who "earned" almost all his coins, (and
alts)<<<<<<<<
which is enough for me, to attempt to address the matter.
The important principles are those that have long been said in the traditional fiat investing world which include what you said and bunch of others, eventually anyone long enough in the space should figure out or learn the hard way.
Sure, probably the best teacher is experience, but we do not each have to get fucking reckt in order to attempt to learn strategies in order to attempt to avoid getting reckt.
I surely don't proclaim to be an expert about any of this, so surely I am talking from my own experiences, but I learned quite early in life that I should be trying to use time to my advantage and that I should always live within my means and also attempt to be stacking away small parts along the way. I was doing that about 30 years before I started in Bitcoin, and surely I made a lot of mistakes along the way, but there were quite a few mistakes that I avoided too, by attempting to think through my own situation in terms of my own needs regarding consumption versus investment and what kinds of assets I was more willing to take risks on and surely attempting to measure risks can be really difficult too...
Stuff about SWR, compounded interest, dollar cost averaging, being consistent ... be that, if you act like you are investing for your retirement like a lot of other people would using low fee index funds or something close to a total stock market fund, VTSAX or BlackRock's equivalent, or even just a basic S&P 500 ... and you treat bitcoin exactly the same way, and keep doing the same thing for the next 20 years, yes, you will get rich as much as you like by the time you need to cash it out, if you never touch it until then.
I had to look up SWR, and see that it is "safe withdrawal rate."
O.k. largely there are some truths in what you say above in terms of trying to figure out asset classes and how to allocate, but also sometimes in the beginning you just have to start out with one or two investments because it is NOT really worth spreading out your investment, and thinking too much about SWR, in the beginning would be way too premature because you are so damned embedded into just accumulating and building bare basics and also probably just figuring out how to manage your cash flow to figure out how much is safe to invest without over doing it. A lot of the mistakes of beginner investors is that they get into investing into too many fucking things.. and they gotta get their lives in order first to figure out whether they safely can invest $10 per week or if they have enough cashflow that they will be able to invest $50 per week..
And, also, just trying to control impulses not to consume too much. I don't need to buy a new car, and maybe a scooter will do or a bicycle, at least for a few years while I am building my nest egg. How about living in shared dwellings rather than having a place to myself, can save a whole hell of a lot of money to make a few extra dollars available for investing.. and just making sure that the investor has enough cash for emergencies that are almost inevitable to come up.. especially if you do not adequately prepare or think about the matter. Of course some people might have mommy and daddy that will bail them out, but sometimes there is a certain comfort to NOT having to employ that option (if you have it) or keeping that option for the really BIG screw ups, if they happen.. which some people do live on the edge more and more and end up employing those kinds of emergency options too often so that they get kind of fucked when they keep getting into those kinds of pickles and then don't have those kinds of options including sometimes the benefits that can come from building up credit too...
That's what I was trying to say anyway. But no.. Very few will actually do this even after reading this post. I'll try to do it myself, but I have other problems I have to deal with at the moment, like trying to survive.
For sure that is true.. for sure, it takes a long ass time to build your investment, even when there is an investment that is as good as bitcoin, but if guys (and gal) try to rush their investment, the odds of getting fucked, even by bitcoin, increase stupendously.... Again, fuck alt coins... did I mention that, yet?
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