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What I earn from Bitcoin will be deposited into assets like houses and personal items but my wealth will remain in Bitcoin.
Sure, that is fair enough that you have figured out some kind of allocation or reallocation that works for you, so my initial impression of what you were saying was a bit off (in other words, incorrect).
I don't see any problem with trying to figure out some attempts at balancing along the way, and surely guys are going to come to differing conclusions about their targets and how to effectively accomplish their targets. Some guys will also make mistakes in terms of trying to reach their targets and perhaps poorly timing aspects of the BTC market, and there are a lot of ways that mistakes can be made that are not ONLY limited to selling too many BTC too soon, which does seem to be one of the BIGGER of mistakes that guys seem to later regret - when they become unwilling or unable to ride out some of the volatility waves or maybe even appreciating that there are good chances that going through another BTC cycle may well resolve some issues - even though of course, not even number goes up technology is guaranteed, either.
If we did get to 400k per coin then why would I ever need to convert back to fiat I would say fuck you to fiat as well as having the status of fuck you money
Sometimes we cannot have our cake and eat it too.. so we are likely on similar pages as far as the overall goals are concerned, but still depending on how quickly the BTC price were to go up to $400k could create some concerns about whether $400k is sustainable, and so some guys may well sell some or all of their BTC with a goal of buying back more BTC at a lower price (which may or may not work out for them).. and so part of my own personal concerns about measuring BTC wealth based on top prices causes some concerns about both valuing wealth too much in fiat and also perhaps not adequately accounting for what many of us already appreciate to be near inevitable ongoing BTC price volatility..
So sure if there is a 50% BTC price correction or an 85% correction from $400k or if the BTC price were to go up to $890k before having a severe correction (if at all) are ongoing questions of speculation that I personally believe that up and down volatility remains nearly inevitable for a decent amount of time into bitcoin's relevantly foreseeable future.. at least the next 20 years.. and perhaps even longer and if there are needs to plan specifics of our own personal finances based on what might happen further out than 20 years from now, at this time, might be a wee bit too much futuristic oriented.. because even long term planners probably still are considering what they are in based on shorter term speculations of 5 to 10 years.. and of course the future view would need to be somewhat taken into account in terms of helping to consider present value opportunities, too.
but I do not have enough Bitcoin for that right now not in my life time so I need to accumulate more by setting aside 10k a year to invest in Bitcoin and the rest of my wealth will be used to feed me.
Of course, there is no need for you to disclose your personal bitcoin quantity, and the hypothetical that I gave was for someone who currently were to have 5 BTC would thereby have reached $2 million in value if the BTC price were to reach $400k, but of course, that would be a spot price value that may well not be sustainable, and yes, Macadonian, you are the one who has to assess your own situation in terms of how many BTC you believe that you need in terms of balancing all of your current expenses and future expectations of life style, and not only do you figure out how to value your BTC in terms of account for it's likely ongoing volatility, but you also may well need to determine how to invest in bitcoin in the event that you have already decided that you are going to have about $10k per year to put in, then you might have some of that $10k for DCA investing, another portion for buying on dips and maybe some other portion for lump sum investing... but if you went with strict DCA and you were able to average it out for the whole year, that would about $192 per week, which surely seems like a sufficiently aggressive approach that should have decent chances of paying off well.
Of course, some folks do have a variety of inconsistencies in their cashflow, so if you realize that you have those kinds of inconsistencies in your cashflow, you may well want to structure your ongoing investment into BTC in ways that you feel are more compatible with your own expected cashflow.
Another thing that can screw up some people is to become overly-aggressive in their BTC investment, then they fail/refuse to adequately keep a kind of floating balance of fiat funds (or even emergency funds or other liquid funds), so most of us should strive to attempt to prevent getting our lil selfies into any kind of a pickle and to end up having to cash out any of our BTC that is a time that is NOT of your own choosing.
What I tend to do is to project my cashflow for two years in advance, but even that can bring complications if there is not various kinds of extra cash in there.. for just in case kinds of things that can come up.. and yeah if you get more expenses, sometimes a lot of bills might come due at the same time, but if there is some kind of emergency, do you have the money that you can draw from other liquid places before drawing from your BTC.. and do you have enough? Living well within your means, or are you spending up to your limits on a regular basis.. (not necessarily referring to you, Macadonian) .. that would include your decision to buy a new car or to keep your 5-10 year old car or to buy a 3-year old car instead of a brand new one (because the greatest amount of depreciation has already taken place) until maybe your cash cushion and consumption cushion is greater and you get closer to fuck you status you might be allowed to splurge.. and if you are in the business of actually making money off of the impressions that you make, it could be that it is better for you to buy the newer model car, perhaps? perhaps?
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