@dragonvslinux And @JayJuanGee Are you guys going to destroy the Bitcointalk database soon? (kidding)
Yes...
not kidding.May I know your Keyboard Brand name and Model?
I cannot say..
Opsec.
The current price is soooo boring, that I decided to share some of my current thoughts. I know what Bitcoin means and what it will give to me and my family. I can describe it with one word: FREEDOM! Freedom not only from the salary slavery, but from all kinds of fears. And to live without a fear is something that nobody in this world can give it to me. No matter how rich I am, if my riches are obtained by the rules of the fiat system. I mean, I may have companies worth billions of $s and still live in a bungalow, because of taxes and other financial obligations. For these reasons and many more, my focus has become obtaining more Bitcoins, rather fiat savings in the bank.
Even though you use the term "freedom," I tend to use the word "options," and of course, they are very similar and related concepts.
Surely, bitcoin has shown itself to have been a very asymmetric bet, so in that regard, the longer that any person has held bitcoin, the more options they have gotten.. one to two cycles will likely increase the options quite a bit, but there is also a dynamic concerning starting point and also concerning how aggressive someone may have been in terms of their bitcoin accumulation early in their investment.. so if there may have been some ambiguity regarding the placement of their beginning investment point and how much they invested early on (and how), then there might be some needs for a couple of cycles of BTC price appreciation rather than just relying upon the price appreciation of one cycle.
Probably even Michael Saylor is going to take at least a full cycle or more to feel magnitude like consequences of his early aggressive bitcoin investment approach.. even though we can see that he did have some pretty decent timing in terms of this particular cycle (since he has ONLY been investing in bitcoin for less than a year and a half),.., in any event no matter who we are whether some joe bllow on the street or Michael Saylor, it has tended to be interesting to assess or to reassess where various investors (including our lil selfies) might end up in our bitcoin investment after a full cycle and to consider if our options have increased (hopefully increased unless we really made a shit ton of mistakes by perhaps bystanders either by trading or failing/refusing to be sufficiently aggressive.
Even with mistakes, since bitcoin has historically been such an asymmetric upside bet, options may have still increased by having had gotten involved in investing into bitcoin... and there is really nothing in bitcoins current posture to suggest that bitcoin's investment thesis has decreased in any kind of meaningful or significant way.
Having said that, it requires a bit of spending related to escaping the salary slavery, buying a house, equipment and medical treatment. This is one of the bitter pills I had to swallow this year by selling part of my stash. The other bitter pill is that I wasn't aware in time to gather more coins. Of course, this is the case with most of us and I guess everyone finds a way to be content with the stash they have. I mean it always looks we are late, and so on. In reality, we are still early adopters. So, no matter what happens related to Bitcoin news, ups or downs, we should keep stacking those precious sats. This looks easy, but remember mindurst!
Well one thing is attempting to time expenses, including having a sufficiently sized emergency fund.. which is easier said than done.. and for sure in mindrust's case he had devolved into way too much overinvesting which largely adds up to falling into a category of gambling rather than investing, and surely sometimes gambling might work out..,. but sometimes it can be quite tragic both psychologically and financially if such gambling does not end up working out.. which we saw in his case.
I am sad for this guy, he was so happy to acuire the 10th coin and a few days later blew it all because he appreciated more the fiat savings than Bitcoin. The danger for us, who know what Bitcoin means, is similar - to be tempted to sell at the "top" of the cycle and rebuy at the "bottom" of the bear market. It sound so tempting, for example if we sold at 20K in Dec 2017 and rebought in 2018 at 3100, we would have had >6x more coins! And this thought was so depressing for me during the 3 year bear market. But there is nothing to be done about it. On the chart it looks so easy, but how many succeeded selling and rebuying with such a huge profit? The odds are much smaller than betting on a single number of a roulette in a casino. They are higher if we aim for a smaller profit like 10-20%, but does it look fine betting 100% of our stash for, say a 25% chance of winning? This is only a rough estimation.
Can't argue with you regarding those points both in terms of the difficulty of predicting tops and bottoms and also how easy it looks afterwards ends up likely being way more of a fluke of luck rather than really having some kinds of mad skills to be able to accomplish for the overwhelming majority of mere normies.
When we calculate the odds, we should take into consideration not only the chances of going up or down, which are around 50% in a bull market, but also whether we would nail the top and the bottom. We may expect a 20% drop, and it may turn out to be only 15%, which means we never return our selling amount. Hence the chances of increasing the stash in this way are getting much smaller. So this hope should be buried toghether with the hope of profiting from shitcoins or building a time machine and buying back in time (which has a slightly better odds than the shitcoins). The only way is to continue buying with the new income, although it looks stupid to buy higher than I sold. But there is an important difference: I am using my future fiat income, not the profit from the sell of Bitcoins. So, as long as I live and have an income, I will pursue a bigger stash. That's the only financial greed which is healthy in this world. Everything else is a mixture of slavery and fear. Not acceptable for me!
Actually use of debt can be a prudent strategy, so long you do not overdo it.. and surely, the ability to use debt is not a tool that is available to everyone, and surely has allowed people to get way richer than if they had merely used actual non-debt resources available to them to both attempt to manage their cashflow and their investments (bitcoin or other kinds of investments).
Poll
