Constantly smacking the price down to just below $60k is not manipulation.
Nope. No manipulation. Nada. Zilch.
At all. Nope.
I am not going to deny that there are not efforts and abilities to keep BTC prices within ranges that the powers that be would like them to be as long as they are able to keep such BTC prices within such ranges.
Yet, let me put it to you this way.
If the powers that be were able to get their way in regards to manipulating the BTC price, then BTC prices would still be below $500, like they were in early 2016. They lost that below $500 battle, just as they have lost a whole hell of a lot of other battles along the way, and that is why the BTC price is more then 100x higher than where the powers that be wished it would be. There should be no need for me to describe the various battle points along the way and in the last more than two cycles (8-ish years).
Yeah, sure they win various battles along the way from time to time, yet the battles they are "winning" are largely Pyrrhic victories, yet still, you torquey warkie just love to claim "manipulation" when BTC is probably amongst the least able to manipulate markets in the world...and yeah, that is not saying much about the various other markets.
On the other hand, I didn't know that the inflows into Bitcoin ETFs have registered Around $403.8 million, it is thought that they can reach up to $300k in Bitcoin thanks to this, of course that is what is said, some articles talk about it, but it is not bad , can you imagine that by October and November Bitcoin will reach that price?
I am not sure from where you are getting your number, since it appears that to date the inflows into all of the bitcoin spot ETFs since January 2024 has been right around $17.3 billion.
https://farside.co.uk/btc/F*ck it, I capitulated.
I just sold ~2% of my total stash.
Oh well, that dirty fiat will cover my expenses for the next couple of years..
Blz sir, help muh famalie
That sounds like a very sustainable withdrawal system if you are selling 2% every couple of years, yet I think that many of us might recommend spreading out your sells to be several times every couple of years rather than 2% to cover a whole 2 years, especially since this seems more like a consolidation area (and close to the bottom) rather than anything close to toppy.
I have already been spouting my mouth that 10% per year is sustainable as long as the BTC spot price is at least 25% above the 200 WMA.. and
right now, at $60k-ish as I type, the BTC spot price is close to 54% above the 200WMA.
So from my current perspective if you have reached a status that you deem to be sufficiently accumulated or overly accumulate, you could withdraw right around 2.5% of your BTC stash every quarter and still have a sustainable withdrawal system, as long as you are withdrawing when the BTC price is at least 25% above the 200-WMA... for sure I would prefer to calculate the dollar withdrawal rates at 10% of the dollar value of the 200-WMA dollar value, since that is a more conservative withdrawal rate, yet I believe that withdrawing the 10% per year based on the BTC stash size works too it just tends to become way less consistent and more likely to be withdrawing way more dollar value than you need.
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2% covering ALL expenses for 2 years..that's whalin' (at least in US)..congrats on the stash.
Fred Krueger thinks that most people (especially those with zero) should aim at 1 btc accumulation in the next 5 years:
https://www.youtube.com/watch?v=ezDZ2YEiKV4I agree with your overall assessment that ONLY withdrawing 2% every two years is very baller to the extent that expenses are totally covered by cashing out that bitcoin. I suspect that Krubster has other sources of income.
Regarding the video, that's a pretty decent one, even though it was hosted by a shitcoiner podcast.., and it seems that even though Krueger is a bitcoin believer, he has some acceptance and/or tolerance to suggest that there is going to be something like 10% space that will be available for shitcoiner possibilities..
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Thanks, I guess.
Well, what can I say. I'm an autistic retard that bought the majority of my stash by luck at $10 per btc back in 2012.
I quit my corporate job in 2017 (in my mid 30ies) and been living on my bitcoin savings ever since.
Wow. That's an interesting way of framing the matter... so if you are able to completely live off of your stash for a couple of years, you have an overly conservative withdrawal rate. You could likely increase your withdrawal rate and still be quite fine, as I mentioned above, something like 2.5 % per quarter as long at the BTC price is at least 25% above the 200-WMA.
I also received a fair amount of btc of the Mt.Gox payout recently. A decade of waiting finally paid off.
I keep trying to ask Gox creditors what they got.. and I keep thinking that the amount received by Gox creditors was around 15%-ish of the size of what they had on the exchange (GOX).. .. but I am not really sure why I keep gravitating towards that 15% speculation number.
Poll
