It got pretty dark here during totality but it was very cloudy before and during so we couldn't see the sun at all. The clouds dissipated slightly and I was able to get a photo just recently but well past peak coverage.
The sudden darkness is a little eerie.
Hahahahaha
It probably helped your eyes too.. to be looking directly at the sun.
I heard that looking directly at the sun is not good for your eyes, but it there happens to be clouds and part of a moon in front of it, then it must not be as bad for your peepers.
I was thinking about the following hypothetical the other day:
Let's assume that bitcoin goes to 100-300K (let's say, 200K average) this cycle and somewhere along the line you sell a substantial % to invest in property, luxuries, etc ( whichever you choose).
In 10 years afterwards, bitcoin goes to 5 mil, which means that you only "captured" just 4% of the potential value.
How would you feel about it? I guess, it would also depend on the remainder (that you didn't sell), but still.
That is the key, Biodom..
You suggest that you don't care about the key, and the key is ONLY selling a small amount, and it does not matter. If you sell 5% to 10% of your 20 bitcoin stash (which is $200k to $400k), you still have 18 or 19 BTC left, so when BTC reaches $5 million or whatever your other selling point, you are still in a pretty damned good place with $90 million or $95 million remaining in your stash.. and yeah there are all kinds of variables in regards to the benefits and advantages of incrementalist BTC stash management practices.
Personally, I know that years later, I am not particularly fond of my decisions to sell AMZN, AAPL and TSLA early, even though I made very nice gains on them.
Sometimes, I consider these occurancies as my investment follies, but, again, you cannot be 100% efficient.
It still gets back to how much you sold, and why.
Of course, it is possible to NEVER sell btc and, basically, put this decision on the shoulders of descendants, but you cannot guarantee that they would be wise about it, right?
At least, I can't.
Fuck descendants.. and also fuck all or nothing thinking.
Those ideas about never selling any of your bitcoin do not seem practical or reasonable for an overwhelming majority of normies (that is normal people).
Even if we might back off of the idea that there could be some responsible ways to pass on your wealth, it still does not seem to make sense unless you ar able to put it into some kind of a plan or a trust or something, and maybe that is even difficult to design in a way that would inspire confidence that your dead hands' passing down the coins would be honored in ways that you might circumscribe..
I am not totally against the idea of passing down coins, even though the way I came out might seem a bit strongly phrased.
At some point, I would have to start to spend btc and this point is coming relatively soon.
Good idea. Don't be hanging onto those 20 BTC forever.
Alas, to spend even a relatively small amount of btc on things like kitchen remodeling causes a bit of mixed feelings on my part as I contemplate the scenarios described above.
That could be one expensive kitchen 5-10 years down the road.
Does not seem like a BIG dilema to me, unless you are selling too many BTC too soon, and if you have not accumulated enough BTC..
Sure, if you had not accumulated enough BTC, then you should not be selling too many of them too soon.
ONLY you can decide how many BTC is enough or too much, and if you are having dilemmas about it, then you likely have not quite reached that state yet.. yet I cannot see how anyone but yourself would be able to help you to figure out that part of the puzzle, in regards to how much is enough.. even though surely I attempt to help with
my sustainable withdrawal ideas, even though you still have to reach your own conclusions in regards to how many coins is enough (or too much.. by the way, some folks have psychological problems in that they have little to no idea how to figure out how much is enough and/or too much.. to me, that seems to be a psychological state).
Withdrawals from IRA are taxable and I put all my stables back into the market during 2023.
I would probably do a mix of "things", but don't want to take on HELOC or anything like this.
Decisions, decisions...
hahahaha
I had to look up HELOC..
Home equity line of credit...
O.k.. so you are suggesting the possibility that you are equity rich, but cash poor.. and it seems that bitcoin can resolve that problem, way the fuck better than halving property (and fuck HELOC, they are not necessary, even though they are optional), yet my thinking still is to make sure that you get to a status of over accumulation before you start to sell your BTC.
A few months ago, Jimbo mentioned that a guy might have something in the ballpark of 160 BTC, and you think that would be enough for most guys in terms of how much cash do you need each month? 160 BTC would give you plenty..
So yeah, if you don't have 160 BTC and you ONLY have 20 BTC, then yeah, maybe your not quite at a state of overaccumulation where you can just regularly shave some off.. whether it is 4%, 6%, 10% or some other amount that you might deem to be reasonable to both sustain your lifestyle, supplement your other flows of cash and also your seeming concerns about having to account for tax burdens of whatever BTC ends up getting sold.
[edited out]
Didn’t read the whole post in bed but quick response
Don’t mind selling something to live life
If spend 5-10% and in then years or 5 or 2 reaching 1-2-3-4-5 whatever mil a coin
Then 90% of the remaining or 80-70-60 …. Will provide well
Exactamente... BTC has such a great CAGR (compound annual growth rate) that you can easily shave off high amounts and still end up with more value in BTC, including surely no problem spending your other sources of income first.
Poll
