I must confess something. I stopped caring for BTC's price somewhere in 2022. Then I realized BTC won't change my life the way I hoped.
Did you get into shitcoins at that point?
The reasons are not related to the current low price. The problem is my country. There is no such thing as an early retirement. I have to wait until I am 65 years old if I want to get a pension. And this is 15 years away from now. So, I can't quit my job even if were a billionaire. I can't count on the value of my stash for my everyday expenses.
Well.. perhaps fuck you status for you is to forgo that pension or what?
Doesn't your country have vesting? After a certain number of years, you vest in your pension, so you do not lose it, but you are not able to collect until you are 65? That might be the case, no? Or do you end up foregoing it completely if you stop working early?
Are you saying that you could not live off of a billion dollars? you would not be able to cash out each month or whatever?
We figure $2 million as entry-level fuck you status for $6,666 per month of passive income? Do you need more than that? Why wouldn't $6,666 per month work for you? What if you double it and then you feel that you have to reach $4 million, which would be $13.3k per month of cashflow. That would not be enough? There's gotta be a line somewhere, no?
I am having troubles believing this.
With any of us there are troubles with various systems, yet investing in bitcoin is likely going to help to improve conditions, even if there still might be difficulties to get to total fuck you status.. there should be ways to supplement, so maybe your issue is that you end up needing more than you had previously calculated.... which is not an uncommon mistake.. .. many times people will miscalculate something like the cost of healthcare, and yeah, being within a pension system is likely easier than being outside of it, so part of the question might be whether you would lose the pension completely or just be deferred in collecting it and if you lose it completely, then surely you have to reach a higher level of wealth to replace that lost income... Most of the time you should not need anything even close to a billion to live in any place.. and whether we are talking about entry level fuck you status or having to double or triple our previous thoughts about entry-level fuck you status, it is likely not as high to get to fuck you status (such as not even working with a $billion) as you are making it out to be.
The big money can be spent in a matter of days. Easy come, easy gone. So, I have to keep working, which is not so bad actually. I even work at a 2nd place 300km away and travel once per 2 weeks excluding winter and summer, when I am on vacation. So, what can Bitcoin give to me - just a better protection against the inflation and that I could buy anything essentioal for me and my family.
Yeah.. of course, not everyone can make it to fuck you status, but surely bitcoin can be used to supplement any situation... for sure.. and of course, there are no guarantees that bitcoin will go up rather than down or sideways, even though it still seems like the best asset that we have as an option to accumulate and to maintain aggressively (without being overly aggressive) allocated in our investment portfolio.
This is good of course, but way too far from my dreams of travelling around the world and buying beachfront villas...
Sounds like you either miscalculated how much you needed, failed to adequately research or you gambled away whatever your BTC strategy was or was supposed to be (perhaps overly leveraging or placing your coins with gambling custodians?) and now you are rationalizing that getting to some variation of fuck you status was not possible in the first place.
I did everything I could - even being all in for the last bear cycle.
All in does not seem good..,. sounds like it could be describing gambling and/or failure refusal to adequately and prudently prepare for a variety of price directions. Tough to say that you did everything perfectly and it still did not work out... bitcoin has been a great thing to invest in.. and continues to be a great thing to invest in.
So, you might just need some kind of a batslapping to snap you back to reality and out of your fantasy negative nancies.
So, for me this is kinda dissapointing.
Huh? You mean the BTC price moved lower than you expected and stayed lower than you had expected it to stay? That's kind of retarded. There's no guarantees regarding BTC's price, and BTC prices frequently have gone beyond expectations. What else is new? If you largely accumulated your BTC prior to September 2020, then there is no reason that your average price per BTC should not be quite a bit below $10k.. so what's the problem?
Also the longer that you have been in BTC, then the more likely that your average cost per BTC would be even lower. Of course, you are showing a September 2016 forum registration date, so you should have had quite a bit of opportunities to accumulate decent amounts of BTC that are even still quite a bit in profits.. even if you might have fucked up some parts of whatever you had been doing... Maybe you were employing some kind of a stupid-ass buy and sell strategy in order to accumulate BTC rather than a more strict buy and hold only strategy.? Once you get to fuck you status or some kind of high BTC profits level you might be able to fuck around with selling parts of your stash to offset BTC volatility, but it should not be large portions and trying to gamble to buy back lower and all that nonsense... that's what it sounds like you might have been doing.. and fucking around with gambling and acting as if you had been being prudent the whole time. Something sounds fishy about your negative nancy-isms.
But I learned to be happy and live without watching the price every day, feeling bad for the crashes. I will continue DCAing if the price is under 20K but not above. I reached my stash goal which can allow me to live without any concerns. I think it is better this way than to harbour false hopes and live with fears.
Well, none of us should be building up overly optimistic expectations in regards to having to have bitcoin price perform at certain levels in order to feel fulfilled.
I do agree that sometimes we can calculate that our stash is mostly BIG enough.. so there should not be any problem coming to those kinds of conclusions regarding if any of us believe that we have accumulated enough BTC in order to achieve goals that we might reasonably expect to be possible or probable through our maintaining a BTC stash... and however we plan to use it in the coming years or maybe further down the road, if our timeline might be longer.
.....The problem is my country. There is no such thing as an early retirement. I have to wait until I am 65 years old if I want to get a pension. And this is 15 years away from now. So, I can't quit my job even if were a billionaire...
I don't get it.... why would you need the pension, if you were "a billionaire" (or rich enough) ?
Yeah. .exactly.. makes little to no sense.
.....The problem is my country. There is no such thing as an early retirement. I have to wait until I am 65 years old if I want to get a pension. And this is 15 years away from now. So, I can't quit my job even if were a billionaire...
I don't get it.... why would you need the pension, if you were "a billionaire" (or rich enough) ?
Because I can't trust myself. I can spend billions on yachts, etc. and live like a homeless. Or, my future wife can leave me and get all of it. There are way too many examples for that. And I don't want to finish in the gutter with no income and food on the table. The only possiblity for a self custody fund is the life insurance. But not completely, since I could withdraw everything anytime albeit with a loss.
You are like a drama queen right now - making little to no sense.
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Not the same for everyone, but I would agree that $10M or more would be a reason to quit a job you don't like and self-retire early. In many countries, one can be self-insured by paying the government a monthly amount, which allows one to be unemployed but stay insured and receive the same benefits (medical, future pension, etc.) as a fully employed person. Of course, one has to be able to keep paying for 15 years (in ivomm's case), which cannot be guaranteed (as things stand now) by a small Bitcoin stash.
Yeah.. there may be some kind of a vesting period for any pension.. meaning minimum number of years of service that are needed in order to be eligible for some level of pension, and the amount of the pension can have a variety of criteria for how much you get based on age, number of years served, rank, salary at the time of retirement and perhaps some other criteria that determines the amount...and sure there could be incentives to work longer to make more, but with bitcoin it might not necessarily make sense to work longer to make more but maybe just to quit early and just end up receiving the minimum pension or maybe like you suggest, there might be an insurance policy that can be paid into that could lock in amounts or help with eligibility and requirements.. or whatever.
With Bitcoin price hovering in the $17k region, one would need to have 589+ BTC to be able to securely self-retire with the equivalent of $10M+ of fiat.
Maybe it makes sense to use spot price to measure current status.. of fuck you status or various other measurements, but it still seems pretty safe (practical/reasonable) to use the 200-week moving average, as long as there is a bit of a delayed gratification element.. . and we had already gone over that 80 BTC brings a $2million valuation and so if we want to get to $10 million, then yeah we have to get to 400BTC then.. but surely, several times, Ivomm had already said that he expects it to be cheap to retire and blah blah blah.. so I cannot see why it would be reasonable to 5x the entry-level fuck you status... Sure double it if you are expecting some exotic lifestyle which still only brings that to 160 BTC currently.. presuming some kind of stagnation in the BTC price (getting stuck at the current 200-week moving average of $24.4k).. which may or may not happen.. does not seem to likely, but whatever.. anything is within the realm of possibilities, including BTC prices going to zero... which also seems like a no coiner wet dream and hardly a scenario that is very likely.
The fewer coins one has, the riskier it gets. Sometimes life makes these choices for us, e.g., being a coiner and losing your job enables/forces you to take more risks in attempting to use your coins to survive. But having a decent job makes it more difficult to quit (and increase risk), unless you have lots of coins (which reduce risk).
Yeah.. let's say that you thought that bitcoin prices would be more than $100k right now, so you kind of fucked up. You also made some other mistakes, so you thought that you would be making reasonable progress towards getting to fuck you status, but you ONLY have 20 BTC.. so you thought that in 10 years, you would have enough.. but now you don't know if that is enough, so maybe you just have to work on getting to higher coin levels within your capabilities.. maybe in 10 years, you can accumulate another 2 BTC or something like that? I don't know. .maybe I am trying to include too many variables in the supposed dilemma that Ivomm is currently feeling (which seems overly dramatic as I already mentioned a few times).
I don't agree with ivomm's "easy come, easy go" comment for someone's Bitcoin wealth. It depends on the individual.
When you fuck around and you don't know what you are doing, then it could become "easy come easy go." If you unreasonably frame your expectations in terms of "moon or die" blah blah blah, then that could transition into "easy come easy go" thoughts, too.
If you can't control your finances and are desperately craving to live the high life, then sure, you can spend millions in one year and lose everything. But it's not the same for everyone. I still own a Toyota, while I can easily buy a much more expensive car. But I don't need to. My priorities are different.
That's exactly true. I like to tell a lot of stories about how frugal that I had been for many of my earlier years, and I think around 2010, I started to really feel abilities that my income was way higher than I was spending, so I started to feel a lot of abilities to spend, but I surely did not engage in the kinds of spending that a lot of my peers were doing in the 90s and 00s, that would have caused me not to get to such a position.. ..and even when I was moving into positions to be able to spend way more, I did not blow my whole wadd on luxurious items even though there have been increasing abilities to really spend a lot of money, even in recent times. I bought some property and some new vehicles and some other stuff, but still way below what I could have bought.. which makes has been making it way easier to have that reserve to spend outrageously if I want or just to receive compounding effects of that right now...
...and in these days several of my peers will see that I will buy the meal for everyone and stuff like that, and even spend $10k or $20k or even some higher amount on some items without batting an eye, then the I might say that $20k of value that I just spent had only cost me about $500-ish to acquire... depending on the timing in how it was spent... and there are some other examples like that involving delayed gratification and living within your means for a decently long period of 20 years or longer can cause a lot of compounding effects later down the road, and so various splurgenings in current times.. are likely products of compounding deferred gratification from earlier years.. and even some deferred gratifications in recent times..
I had told the story of some of my bitcoin practices in 2015 to 2016, and when I first started to get used to selling BTC, I started to sell at $250 or so, and I would sell $5 worth if the BTC price went up $10 or something like that, and then I would buy back, and so I would make like $0.30 profit or some other menial amount... so I had started to practice a kind of BTC volatility insurance system that largely was a kind of token system, so even if we might imagine the BTC price going up to $2,500 (10x), my profits likely went up way more than 10x.. maybe even 20x to 30x.. which might be $6 profits or $9 profits.. and there are other examples like that in which there is a compounding effect that even can add up to thousands of dollars of seemingly free money... and most of that is from having a system that largely expects BTC prices to go up.. so there is not a lot of fucking around with trading and sales, but mostly BTC accumulation through buying, maintaining and having prudent volatility management systems.. that are kind of like insurance but not getting wrapped up in the BTC price having to go up, even though we largely see that the BTC price is up 17x if we use $1k as our average price per BTC, or we might even see that we have ways in which we might consider $250 as our average price of some of our BTC... which is just amazing if we think about getting those kinds of returns in less than 10 years... and one of the best ways to really profit financially and psychologically is to be able to have quite a bit of exercising of deferred gratification.
Taking into account that the above mentioned number of 589+ BTC will very likely drop significantly as Bitcoin price rises in the (near) future, HoDLing and/or DCA'ing becomes all the more important strategy for many of us low- to mid-level marine species out there. At a price of $100k+ (say, sometime in 2025), that number becomes 100- BTC, which makes things much easier for many of us.
Looking fwd to 2027+, when we will have so much fun reading these posts...
Yep.. it is absolutely amazing how the number of BTC required for various ways to define fuck you status is likely going to continue to go down.. sure there are no guarantees, but there is no real evidence to suggest that some variation of our historical pattern of BTC being amongst the best (if not the best) investment to continue into the future.. including 4 years from now or later.. .. of course, it may not even take that long, and surely 2027 could be another bear period, and we might be whining about BTC prices that make us wonder "why the fuck didn't I buy more BTC in 2022/2023?" or "why was I whining so much back in 2022/2023 that I ONLY had 20 BTC, when current entry level fuck you status ONLY requires 6 BTC, so currently I actually have close to 4x entry-level fuck you status?".. .and perhaps other similar realizations that may well pay off if the proper kinds of preparations are happening now so that you do not get so dumb as to fuck away your BTC stash and ONLY end up with 1 or 2 BTC in 2027 and then wondering why BTC has not fulfilled you and has not brought you to fuck you status as you had expected blah blah blah.. when you had fucked up your stash and you could have had 24 BTC by 2027, but instead you barely are struggling to have 1 or 2 BTC.. and wondering why entry-level fuck you status takes 6 BTC and some other reasons to whine about BTC not sufficiently or adequately fulfilling you.
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