Hey buddy do you think I should cash out today and just walk away from this all?
Some days I just feel like cashing out and walking away from all this.
For some reason I feel this way today.
I guess the question you have to ask yourself is why you are doing this in the first place. Did you get involved to have some temporary fun, to change the world, to get rich, to be a part of something? Did you get everything out of it that you wanted to? Do you still see a path to achieving your goals? Or is this just something you do for money because you’ve been doing it so long?
I would like to answer for Philip.
He cannot resist, but to cash out every single year.
He cannot help himself.
That is part of the reason that he barely has any bitcoin, relatively speaking... and at the age of 67-ish, he should be cashing out rather than buying... but maybe perhaps in slow (and sustainable) ways (such as raking and/or time-based), rather than all or nothing kinds of approaches (and thinking).
#justsaying
[edited out]
I do ask these questions quite often. With involvement of multiple partners/investors the mine got bigger than I wanted. It was hard to run and the four of us had a lot of disagreements on the direction to head the business. So the Father and son half broke off the deal with myself and my partner. Leaving me and my partner with a lot of paid off gear and not any power to run it.
I have been selling it off piece by piece on ebay and other spots. I am 67 the amount of work I did from dec 2018 to may 2024 was a lot. Basically almost a full time job. I did make money coin gear etc.
I have zero debt
I have coins
I own a home
Wife and I have pensions
I post on bitcointalk and altcoinstalks earning side coins
I am more interested it liquidating the gear and reducing it way way way way lower. Maybe 20kwatts vs 210/220kwatts.
Some days I just feel worn down from the mining experience.
As for posting and shooting the shit that will not wear down I still post copiously on multiple forums and will likely do that as long as life lets me do so.
There is no reason to mine. Especially at 60 or even at 67.
If you have an amount of BTC,
you can engage in time-based releases as in the sustainable withdrawal model (including doing a 10% annualized version) and/or you can
engage in raking. Either way pick your amounts based on your BTC stash size.
[edited out]
Why do you want to sell corn anyway?
I get the miner selling, of course.
In principle, you BUY when it is going up and you SELL when it is going down (like you buy in the bull market and sell in the bear market), but you are doing the opposite.
Why it is erroneous in general: because in a bull market you never know how high it would go, so as long as it rises, you buy and "pyramid" and in the bear market you never know how low it would go, so you "distribute".
yes.. you are doing the opposite of best practices, Biodom - especially in bitcoin.
You should be buying on the way down and selling on the way up.. but careful to budget so that you never run out of cash to buy on the way down, and also budget to never run out of bitcoin on the way up, so in other words don't sell too many of your BTC and/or blow your wadd by selling too many too soon.
Of course, you can modify how much you buy or you sell based on where you are at in life.
But whatever.
To each his own... you keep doing the opposite of best practices, and if it is working for you (so far), then so be it.
Still $80k is going to be pretty good for most, and yeah that is likely going to keep going up... but still $80k is a $2 million in traditional investments with a 4% withdrawal rate, and $800k in bitcoin with a 10% withdrawal rate.. and other details and caveats apply in order to get those rates to work.. which I would assert that right now is right around 23 Bitcoin...
*I have to always tell this to myself when I contemplate QLACs and other annuities.
You can do better managing it on your own and mostly being in bitcoin, as long as you get the numbers right (or approximately right... since you don't really need to be completely right with bitcoin and it if you are somewhat conservative, bitcoin will likely allow you to out perform your expecations).. of course, no guarantees, but seems better than having a third party fucking things up.
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