So many posts, so little time... Wish I could reply/comment more...
A wise man once said:
One tenth of a coin's enough,
To set you up good.
That is pushing it.
I am not sure if I would go that far, but anyone who is starting their bitcoin journey may well take some time before he is able to even reach 1/10th of a coin, and so in that regard, I have trouble understanding why it would be an amount that someone would be wanting to bet in the context of gentlemen rather than in the context of showing (or faking) how BIG your balls might be.
Yes, it does sound like pushing it.
0.1 BTC.
Set for life.
Can you imagine? Will there be a time when this teeny-weeny amount of coin could get one up to "fuck you" status? Let's see... 1 sat = $1 --> 0.1 BTC = $10,000,000. I know this may seem like a super-rare, super-optimistic, super-bullish, super-long-term scenario, but never say never. That's what I've learned throughout my journey in these here parts.
I can imagine, yet I was still trying to consider about whether you had been referring to dragonvlinux's bet proposal or if we might be considering how to manage stack sizes within our life times, and personally, I doubt that there is a need to go to $1 per sat in order for 0.1BTC to bring someone to entry-level fuck you status, and surely you pointed out that would be $10 million per coin, and sure we are likely going to need to move up entry-level fuck you status from time to time, but several times when I am attempting to project forward, I am presuming a kind of modest debasement of the dollar rather than what is likely really going to happen, but at t.he same time, we should be striving to consider matters in real term prices of goods and services (ie hookers, lambos and blow) rather than getting trapped into too many of the nominal terms that are almost inevitably going to continue to happen to the dollar - so it is difficult to know how, if and when various dollar-reset matters are going to have to come to fruition because the level of debt is just becoming too unreasonable and not likely to sustain.
There is a
recent thread on dollar sat parity.
I think that I said dollar sat parity in around 100 years, but an "off-the-books" extension
my entry-level fuck you status chart actually shows less than 0.1 BTC starting in 2083
>>>>>5/29/83 $20,106,900 2.71% 95.00% $544,394 0.09946834<<<<<
Regardless, I feel that those of us holding BTC in the double digits are already quite close to "fuck you" status (only a matter of 2-3 years to attain it).
Yes, it does sound like pushing it.
0.1 BTC.
Set for life.
Can you imagine? Will there be a time when this teeny-weeny amount of coin could get one up to "fuck you" status? Let's see... 1 sat = $1 --> 0.1 BTC = $10,000,000. I know this may seem like a super-rare, super-optimistic, super-bullish, super-long-term scenario, but never say never. That's what I've learned throughout my journey in these here parts.
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Depends on lower level double digits or upper level double digits because surely we have already pretty clearly passed below 69 BTC, and entry-level fuck you status (even at western levels) is continuing to drop pretty fast, even when using fairly conservative numbers.
Those with 3-digit corn are already there, but, surely, this also depends on where they live and what their desires and life targets are... It's all subjective to a degree, but 3-digit corn is surely a safe "fuck you" status level currently, for the typical down-to-earth westerner not intending to go to excesses when it comes to LHB activities.
Yes, it does sound like pushing it.
0.1 BTC.
Set for life.
Can you imagine? Will there be a time when this teeny-weeny amount of coin could get one up to "fuck you" status? Let's see... 1 sat = $1 --> 0.1 BTC = $10,000,000. I know this may seem like a super-rare, super-optimistic, super-bullish, super-long-term scenario, but never say never. That's what I've learned throughout my journey in these here parts.
[/quote]
Of course, as I already mentioned to Philip, if we might be close to entry-level fuck you status, yet not quite there, it seems likely that entry-level fuck you status could come to us as long as we might be willing too take temporary cut in the amount that we are withdrawing... but I know that some of us, and you had even mentioned in the past, that it can be quite scary to try to figure out how to make sure that we have sufficient and adequate health care coverage, which seems a reason that a lot of folks have to keep on working, and maybe one of the reasons that we might not want to pull any fuck you lever until we are either clearly above entry-level fuck you status or maybe that we were to have some kind of extra built-in cushion, even though the fact that we might be measuring from bitcoin and even using the 200-week moving average (or bottom prices) as our measurement, we might already have had included a sufficiently well-sized cushion... except to the extent maybe if someone wants to include travel then there could be some extra costs with that, if he had not been previously traveling due to having the mostly geographically tied down J.O.B.
So, yes, the above mentioned Sunday haiku is, indeed, aiming far into the future, but is also taking into account that Bitcoin time does tend to run faster than our clocks, so there is a chance that "far" may not be so far after all.
Those of us who did a lot of our heavy BTC accumulation prior to 2021 or even prior to late 2020 (so presumptively for BTC less than $10k), and even some of us prior to 2018 (which may well bring average BTC costs below $3k) then maybe we are in a position of both having had been able to accumulate a decent amount of cornz (and sure some guys might have continued to add corn in the last few years, even though adding in later years would have had been at higher prices) and perhaps having several compoundings of our stashes based on our investment average being quite a bit lower than $10k per BTC, even accounting for our later sat stackenings... so yeah a combination of quantity of BTC accumulated and also average cost per BTC, can make differences to comfort levels even though we might not need to have a lot of compoundings as long as we have cost per BTC that are quite a bit below the 200-week moving average and also even if we start to withdraw at a relatively reasonable (or sustainable rate), we might still be able to experience growth in the value of our BTC stash and ongoing compoundings of our remaining stash with the passage of time.
Even though we had quite a bit of scary (sub 200-WMA) BTC price performance between June 2022 and October 2023, that period of time still did not bring the 200-week moving average to move below 20% in terms of its annual price appreciation during that time, which even though we cannot guarantee that the 200-WMA will never go into the negative, it seems that we have enough evidence to be able formulate our withdrawals around it.
Speaking of riches, the funny thing is that no matter how much one has, there is still big enough boat to spend on it all the riches. With the exception of few people on Earth that have >> $5 bil. That's filthy rich for me.
A guy has the capability to build riches when he makes sure that his expenses are below his income, and so if at some point he is able to stop working and he still has income that is greater than his income, then he is also rich. So then it seems to be just a matter of degree regarding how much excess income that he needs beyond his expenses, and sure he can keep on increasing his consumption, so that he is living beyond his wildest of dreams, and if his income is exceeding that, then he has not broken any rules of being sustainably rich.
Does a question thereafter arise in regards to whether he needs to keep building his wealth, even while consuming or does he need to compete with others who are more rich than him. How long will it take for a status quo $100 million dollar bitcoiner to reach the wealth status of a $5 billion dollar no coiner? Does it matter? Sure one might be on the lower end of filthy rich, yet surely when we are getting into the billions, then currently, there should be no question that those people have cleared into filthy rich status and can consume more than 10x more than the one who I had earlier described at entry-level filthy rich status, then the entry level mere $80 million of wealth has an income of $500k per month, but the one who has $800 he million would have $5million per month of income, so objectively that is better and I suppose the one with $8 billion would therefore have $50 million per month of income in the event that he might be wanting to spend that level of passive income on hookers, lambos, blow and other consumption goods.
It all seems a bit abstract to me, but I suppose some of the bitcoiners are likely starting to reach those various level of filthy rich, and maybe even moreso in this next cycle, but we still don't really know how this cycle might play out. It could be that some of the bitcoiners who had already based into fuck you status and maybe even a couple of times fuck you status, then a 20x to 40x increase in the spot price would make it into my definition of filthy rich in terms of the spot price, but the 200-week moving average does not move up that fast, even though a 20-40x increase in BTC's spot price would surely cause quite a bit of drawing upwardly of the 200-week moving average.
I would argue fuck status is 4-5 million
I would say at least… For me, it’s 0 debt, multimillion dollar home, vacation home, and $30K/month in passive income.
That means 2.5 million for a house and car + another 1.5 million for a vacation home.
In order to get $30,000 per month in passive income (dividends) you’d need about $12,000,000 in stocks with a diversified portfolio.
That’s 16 million after taxes, and around $20,000,000 if you’re talking Bitcoin capital gains and $40,000,000 if you were married without a prenup.
You could do away with the vacation home and scale down the house a bit while living off $10K per month, but that would still cost you 6 million and $10K a month with property taxes/upkeep on a 1.75 million dollar house would likely mean living on a budget.
Anything less than 6 million and you’re looking at retirement with declining assets (the 4% withdrawal method mentioned above) or potentially a below average quality of life depending on your age as your rising costs exceed $10K per month (car replacement, health issues, kids college, grandkids college funds).
Anything less than 3 million and in my opinion you’d (not just potentially like above) have a below average quality of life in retirement OR eventually exhaust all your assets with continued drawdowns due to a budget deficit (what most people do).
I should also add if you’re old enough and fine with being a renter, you can live for far less, especially if you have social security. Many retire with nothing at all and just live frugally (not fuck status).
If you ever heard of keeping your wealth in bitcoin rather than believing that diversifying into various traditional investments would be able to preserve your purchasing power, then you likely would be on much stronger grounds and likely you would not need as much wealth as you seem to think that you need in order to preserve the purchasing power of your stash (your investment portfolio), and when it comes to BTC, you could likely even use a 6% withdrawal rate as long as you are using the 200-week moving average as a way to value your BTC stash.
Maybe if you don't already have those properties that you believe you need to be at a comfortable level of fuck you status, then you might sell BTC for them, but if you are merely wanting at least a $30k per month income, then still having 200 BTC should fairly reasonable enough of a stash to accomplish that level of withdrawal, but you might have to follow some limitations as I describe in
my sustainable withdrawal thread that might end up reducing your withdrawal rate if the BTC price were to go back to less than 25% higher than the 200-WMA...
So a 200 BTC stash would get you about a 1 BTC per month withdrawal amount, but maybe if you feel that you need more cushion, then maybe you need 240 BTC which now would allow you 1.2 BTC per month, which seems to give quite a few options and even a bit of a cushion that seems to mostly fit your cash requirements... it is just a matter of having the 240 BTC left after you made all your various property purchases that would go along with your cyber truck...
but yeah, if you are going with payments rather than an outright purchase of the various properties (and even vehicles), then you would account for payments in terms of what Biodom had stated, and yeah sure there can be some benefits in terms of having payments rather than purchasing outright those things outright
(there are disadvantages too), especially since BTC has good chances to appreciate greater than the interest rate on the loan, if we are referring to a 7% (and maybe 30 year) fixed rate loan, especially if you have gone through the calculations in terms of your BTC stash size (and thus value) in light of the 200-week moving average.
Granted, anyone not on coasts can probably live on 4-5K/mo per person in the household...but that's not "fu", just routine comfortable living.
There are many levels that could be considered as fuck you status (including someone who might have $1 million or less and who might have abilities to give up working and not having to work for income (outside of just keeping track of it).. .and maybe someone with 25 BTC might be able to fit such category and to be able to get buy with between 4% to 6% withdrawal rate to allow for their holdings to continue to grow.
Blackrock etf value has reached 2 billion $ after bitcoin grows about 5% on Friday, and this suckeres think they could scare me to sell my bitcoin 😀, they will watch me buy instead
Sorry don't know how to reduce frame size, made this too bulky 😑
Look at what I did.
I added text "width=30" right after the first [img] and within the brakets.. so it looks like this [img width=30] rather than like this [img]
Yeah, my version might be too small, but you can play with it in terms of the extent that you want the text to be readable.. maybe 400 would be acceptable to what you would want to present without being too overwhelming, yet even if you select a size that is too small, a reader might still choose to magnify it up by double clicking and/or opening up the image in a new window.
Poll
