Will it be just as lethal like last year -bear mind that the virus is global- than Covid will hit like a fcking tsunami.
In any case - don't go full mindrust!
I need to chash out a full year salary, with a part-time job a half year paycheck.
Money managment is not that hard. I lose some full coins which sucks donkey balls but this is what it is. I will trade those ''lost'' coins back into my coldstorage later on anyway.
I am not sure whether your above statement is accurate - because normies seem to run into all kinds of dilemmas regarding how to go about doing something like reallocating what parts of their assets they have liquid or invested into various assets that have varying expectations of future value.. In the end, many of us are going to strive towards following gresham's law, but still the devil is in the details in terms of how much value we might want to have just sitting (and not really seeming to be working for us).
Reserved x coins to get $XXX in 2021 for my retirement plan, same situation in 2025/2029 etc. When the price goes higher (which is already a cerain outcome because selling at the top is just as hard as buying the bottom.) i sell more and leaving that money on Stamp, wait 1 a 2 years when Bitcoin capitulates to $50k and buying back. Keeping a close eye to PlanB, Rainbow charts etc to know somehow the high range.
Hopefully, all that works out.. We know that there are really decent plausible BTC price projections, but we should also be prepared for scenarios in which the projections do not play out anywhere in the ballpark of expectations, no?
Day trading is to stressfull for me, i did that in the past but damm... looking at the ceiling at night watching my phone constantly like; what if...shall i sell ore buy. fck that. I feel much more secure and comfortable with longterm trade.
Sure... attempting to play BIGGER price swings is a lot less stressful, and a lot more practical in the sense of assurance that you are letting the price come to you rather than attempting to get ahead of the price (when you have little fucking clue about what the price is going to do).
Definitely various stressful times come to each of us in different ways, and one of the reasons that we frequently proclaim that BTC HODLers should not over invest into bitcoin
I admit JayJuanGee i went all-in and way to over invested..but i don't worry to much about it because those coins i need to sell are already much more worth than at the time i purshased it.
My early retirment plan is not in jeopardy.
I think that it is fair for you to clarify that part, and maybe my comment was directed more publicly rather than at your own specific situation, and many of us do appreciate that the longer that we are in bitcoin, the more likely that we are in profits and the more likely that our "overinvestment" into bitcoin is not detrimental to our own psychology or our finances, because even if we were to sell decent chunks of BTC at the bottom of a significant price correction, largely we still would be selling into profits because our investment time horizon has been so long and we have exercised an ongoing long period of delayed gratification that gives us considerable flexibility, including the fact that we may be faced with less preferable situations of having to have to sell a decent amount of our BTC stash at a less preferable time (such as during a seemingly large price correction).
So, yeah, I was not really attempting to proclaim that you, Paashaas, might actually be in a situation of both overinvesting and also NOT being in profits... and surely a mindrust kind of situation is amongst the least preferable in terms of being overinvested and then feeling as if you are being forced to sell at a time that is neither of your preference and hardly any kind of a profit cushion contained therein... so probably for any BTC HODLer, getting past at least one exponential cycle can bring some cushion, but even more cushion if such HODLers are able to achieve getting past a couple of exponential cycles (we know that such exponential cycles have happened in the past and we are hoping such exponential cycles are going to continue into the future.. while hopefully being in enough of a reality to appreciate that continued upward exponential cycles are far from guaranteed even if they seem to have decently high probabilities of playing out).
By the way, I appreciate that quite a few longer term active members of the WO thread realize that part of my strategy in BTC has been to be a bit biased in the "overinvested" direction, so I can personally relate to a degree of both being "overinvested" and maintaining a kind of ongoing "overinvested" state of being.... ... however, at the same time, there are degrees of overinvested that are within reason and prudence and NOT being within reason and prudence... so any of us who maintain some level of "overinvestedness" need to continue to be cognizant of both the upside and the downside of our investment, including that bitcoin can go to zero and we better be willing to live with that outcome in terms of making sure that we are still going to be able to house and feed ourselves and to maintain some basic minimum psychological well being standard of living aspects in the event that bitcoin were to spiral down in such a direction with our plans in place.. whether it is to ride the whole damned investment down to zero or if we do actually have some points in which we are going to cash out portions of our overinvested stash in order to preserve ourselves (and a real down to zero situation may well not even allow us to cash out much if any of our investment, so we should be in a situation, both financially and psychologically, to accept that kind of situation, too)
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