He had felt that he did not quite have enough in BTC to sell during the last price rise to $20k, but I think that he got more frustrated than you, LFC, in terms of his NOT really wanting to talk or think about the BTC price falling matter... because that would just bring him further from NOT having enough to just retire... so largely just preferred to HODL through it all, as far as I understood to be what he was doing.
It takes a quite a bit of balls just to HODL through and to try not to think about the cyclical matters too much....
That is basically where I'm at..
I really have barely any BTC compared to most of you, which at the current price is not life changing either way, so I might as well just HODL..
I haven't made/accumulated much BTC since before the $20k peak, as my ways of accumulation are mostly eliminated by the modernization/regulation of exchanges shutting down/shutting me down, so it just is what it is..
If you have a long enough timeline, let's say 10 to 15 years, then you should be able to accumulate a decent amount of value in BTC. When I first started in the workplace, I did not presume that I would be able to make any kind of fortune or anything like that in less than 20 years, and 30 years was a more realistic target to be able to say fuck you and to retire or whatever.. With BTC, it seems possible to be able to accomplish such status in a shorter period of time (I mean shorter than 30 years), but it does NOT mean that it would be realistic to conclude that you could reach such status in less than 10 years... especially if you have to build up your wealth yourself rather than already coming from wealth that is handed to you on a silver platter and with a silver spoon...
(no recommendation towards actual silver, intended)Even the dollar cost average website (chart) shows that you do not need a large investment, as long as you are consistently investing through time.... so for example investing $20 per week for the past 4 years is still going to get you 2.5 bitcoins by now....
https://dcabtc.com?sd=2016-02-09&sda=4_years&f=weekly&d=4_years&ac=2000&c=true
Though, my retirement goal ambitions are much lower than most, I am satisfied with a more modest way of life, being a countryboy and all..
I don't need a $1mm estate and $500 dinners.. I only need a couple hundred K to become financially secure..
That is a good thing that you are able to live without a lot of expenses, and likely means that it should be easier to reach your goal.
I think in my entire crypto career I have cashed out about 1.6 BTC for probably just under $10k total.. And I do regret it, but still have a bit more than that..
Most of what I have I have held from under $500..
Well, if you already a bit more than a couple BTC, then you have a strong base to build and to continue to preserve. Some people are going to be struggling just to get 1 BTC.. so if you already achieved that, you just keep building upon it without doing anything stupid.. just build and accumulate BTC.. or stack sats.
I haven't ever really been in the position to "invest" into BTC, so all I have is what has been hard earned behind my keyboard, and I try to keep it..
You cannot buy $20 of BTC per week or something modest like that? Of course, you don't need to have that much, but $20 seems kind of achievable for quite a few people... but you do what you are able to do, and if that is only $5 per week, then so be it. It all adds up if you stick with it.
I have a bit more BTC $ at current value than I have debt though, so their may be hope..
Of course, sometimes debt can be used for a variety of purposes, so yeah, if your debt is costing you a lot, then you might need to get some of that in order in your life, but if your debt is making you money or getting put to solid investment purposes where you are earning more than it costs you to service the debt, then that kind of debt is NOT necessarily a bad thing to figure out how to play to your advantage... or just to work towards reducing it, if you know that such ongoing debt is costing your more than it is worth.
But, I am a BTC believer from a libertarian/anarchist point of view, so their is that keeping me HODLing too..
Even though ideology should not be your central motivator, it is o.k. to believe that you are investing in what you consider the "right" kinds of things. There are quite a few of us who have some of those kinds of motives that can justify part of our investment motives, but it should not be the central driver.. the central driver regarding how we invest should be attempting to improve our own personal situation with the passage of time and attempting to engage in behaviors that we believe to maximize our returns given the totality of our individual considerations including our cash flow, other investments, views on bitcoin as compared with other investments, timeline, risk tolerance and our skills and time to research and to manage our portfolio.
I think I have 0.12BTC riding 1:1 on the Trump election, Trump wins, so that will be the biggest loss/gain for me in quite a long time..
Betting is a dumb-ass fuck way to invest or to consider investing or possible returns. Yeah, you might get lucky, but you might not. Once you have built a decent investment and you have accumulated, sure you can play around with betting, but betting should not be central to any accumulation strategy... and only employed after you have reached decently large reserves that you can "play around" with.
I really should get back into trading, but all the shit in trading I have been through, and narrowly escaped, is almost like PTSD to me, and I just can't
I tried Binance for a bit and they just shut me down too
Can't seem to find a signature deal..
Don't know wtf I'm going to do to satisfy my accumulation urge yet but I'm looking..
Trading is also NOT a way to accumulate BTC or wealth. The best ways to accumulate BTC/wealth is DCA and buying on dips. Once you get to a stronger accumulation level and establish a decent position that is relativley strong, then you can fuck around with trading.. The trading should only come after you have established a strong BTC position and ONLY with a small amount of your BTC holdings, ----- i.e. trading should not be a means to accumulate BTC because then you are just employing or developing a gambling mindset, which sounds like you have already tried that and have not been successful with it, so why continue with such nonsense when it does not really work for you, as you already indicated?
I, personally, swing trade in order to attempt to insure my portfolio from downside BTC price moves, and sure that results in more BTC accumulation, but trading was not the way that I accumulated my BTC.
I largely accumulated my BTC between 2013 and 2015 buy buying on dips and DCAing... So I was decently well established before I sold any single BTC and I never sold a BTC that was not already in profits... Sometimes also, during 2013 to 2016, I would kind of panic whenever I sold any BTC because I constantly wanted to make sure that I would be able to buy back any BTC that I sold during that time.
And, if I had been younger when I got into BTC (or if I was just starting to invest), I would have likely been planning to DCA into BTC for 15 years or longer, but before 2013, I had already been DCAing into other kinds of traditional investments for nearly 30years, so I already had built a decent amount of capital to be able to move from my traditional investments into BTC... that took well over a year for me to establish my initial BTC stake based on a kind of transfer and reallocation of wealth from traditional investments into BTC and then to just continue to accumulate BTC for another year or so after I felt that I had made my transfer into BTC even though I had already felt that I had a decent initial stake within a bit more than the 1st year of transferring money from other investments into BTC.
Punchline is that unless you are some kind of professional trader or you are really methodic and dedicate a long to time very conservative and the establishment of fool proof strategies (and there are some out there if you really know how to figure it out), you should not be planning on building your BTC wealth based on trading... because, again, that is a gambling perspective, which is likely to result in tears of pain rather than tears of profit..
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