So another day sideways. and the 106-124 slot is extended .
Dec to Sept so far.
Crazy how weak Bitcoin has been this year so far.
Really hope to see it take off soon, we’re getting comfortably outperformed by Gold this year which is kinda pathetic.
I have to maintain conviction that we break out soon, surely.
I think that bitcoin is performing fine.
Sure, from time to time, there are going to be other assets that might appear to be outperforming bitcoin in short or medium term timeframes.
The zoomed out pictures shows that bitcoin is eating the fuck out of gold's lunch, but hey whatever, if you want to get distracted by short-to-medium noise, then that is on you.
By the way, I would also consider that gold is not a threat to the powers that be, since they have already figured out various ways to control it, so there could even be some attempts by the powers that be to pump gold, even though they are likely retarded in terms of how much money they are going to end up losing by betting on the gold horse rather than on the bitcoin horse, and for sure there are quite a few folks recently coming out of hybernation to tell us how wonderful gold is. [insert eye-rolling meme here].
Anyone using a wallet that depends on J.S. needs a bitch slap to begin with.
I have Blue wallet on my device
I did a quickie search to ask the internet (AI is everywhere these days) whether BlueWallet uses Java Script, and sure the answer was yes.
I use BlueWallet and I have been recommending it as a "good" starting wallet... but yeah of course with any hot wallet (or wallet held on a phone), we have to be careful in regards to how much value we hold on such phone wallets (hot wallets).
Can't believe its been nearly 13 years since I started posting on the wall observer thread. Cheering for the downfall of the bear whale. Hearing the same FUD over and over again. Updating bitcoin core over and over again, checking the binaries, devising stronger and stronger security as my investment went from 4 figures, to 5 figures, to 6 figures, then 7.... and now finally hitting 8 figures. From a $5k investment. Crazy. While everyone in my real day to day life told me it was stupid, a scam, a total waste of money, destroying the planet, a right wing grift.
I hate to do the math, even though I did the math.. the fewest number of coins that you could have (at spot prices) to have had touched upon 8 digits would be 80 BTC.. .and in order to get 80 BTC for ONLY $5k, you would have had to pay $62.50 per coin or less - unless you traded yourself out of your average cost per BTC...
Of course the last time that BTC prices touched upon $62.50 was in 2013. I am not sure if it dipped all the way to $62.50 after the run up to $263 in March/April 2013, but it was not any long lasting price, even though before February or so of 2013, you could have had easily gotten BTC for less than $62.50 and even less than $10 for most of 2012 and into the first few weeks of 2013.
About to finally sell 1/3 of my stash. Will buy a mostly passive business returning $400k a year....for ever.
That does not sound like a good idea.. but hey whatever do what you like.
Take the best investment in the world and stick it in a likely inferior investment.
If you were to have
80 bitcoin or more, then currently that quantity of bitcoin would allow you to withdraw $410k per year in a perpetually sustainable way, and sure the main issue is cashing out $410k every year.. Bitcoin would also allow you to have a 7% increase in the amount each year... so $410k in year 1, $439k in year 2, $470k in year 3, $502k in year 4, etc, etc, etc.
I am not opposed to diversifying some of it out, even though surely bitcoin seems solid.. but again, yeah whatever floats your boat
Even if you withdrew 1/3, the remaining 53.3 BTC .. Could generate you around $280k per year with 7% increases each year, which will likely cause it to surpass the value of your inferior investment (cashflow) in a cycle or two. I have not worked out the numbers of course, and future performance does remain a wee bit of a speculation, too... so there is that angle, too.
Generation wealth for the kids i have had since that first investment. No going without food like I had to growing up. No getting bullied for wearing hand me down dunlop volleys. No eating carrots on Canteen days because Mum couldn't afford to spare any cash. 100% certain I would be better off just hodling the BTC, but can't pass up the chance to set my family up with cash flow for life. I'm sure lots of people here have had to make similar decisions .
It is not unreasonable.. especially if you are really ONLY cashing out around 1/3 of it.
And the only people that really understand are you reprobate fuckers....the ones that have been here with me the whole time....the ones that believed when the world called us crazy. The ones that made me laugh. So thanks everyone. I'll keep most of my stash, and I'll keep checking in here, reading the thread when ever I feel down, or like a need a laugh. Here's to all you fuckers. I love you all, and I love how far we have come.
The experience is a bit surreal for those of us who largely held and accumulated for a couple of cycles or more, and surely there can be quite a bit of value to the front loading aspect, even though it would have had been difficult to get 80-ish BTC for ONLY $5k. I subscribe to more of the ongoing investment philosophy, even though surely buying on the dip could have had worked out.. so in some sense, you had a bit of a different approach than what I would have had imagined, even if there might have had been some front loading of the initial $5k.. I would have considered ongoing buying at least to a point.. but yeah, what do I know?
Call me a wet blanket.
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Big congrats!
That said...somehow I have a feeling that we might also know you by some other nick...otherwise, what a posting/logging restraint over 12 years!
Of course, you don't need to answer.
I recall seeing him chime in from time to time over the years.
Notably, "passive business returning $400k a year....for ever" hardly exist, as far as "forever" part is concerned.
I hardly buy that part either... since .let's says that the $400k per year is coming from $4 million that had been cashed out of bitcoin. No traditional investment is going to pay you at that rate 10% .. .. They might pay you at 4% for the ability to use $4 million in cash which would be around $160k per year... .. which is also part of the justification to keep it in bitcoin, even though surely like I mentioned above, I am not opposed to the idea of diversifying. .especially if it is ONLY 1/3 of the stash....
Surely, you can buy a bond of a long duration that guarantees the cash flow as long as the country in question perseveres undisturbed, but business?
Perhaps, I am just not familiar with some businesses that are essentially forever.
Some specifics might be helpful to describe such a financial tool/device if it were to exist.
And, yeah, congrats Biodom, you out wet-blanketed me.
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Thanks man! I may have more than one account lol. Even had one stolen by Russian's over that time lol.
It's barely a business. Just a form of industrial real estate that the world will probably be in need of for a long time, that requires very little input from me, in an area where they are definitely not making more industrial real estate. Basically a landlord, with a few wrinkles.
I have my doubts that income will be up to expectations. Sounds like you will be get scammed out of $4 million and/or 1/3 of your bitcoin stash... hahahahaha.. even though yeah, it might also work out.. .. so sure, you have your own level of due diligence in terms of considering if the numbers are correct.
Oh, and by the way, I have a hard time believing, also, that a guy might be able to get through 12.5 years investing in bitcoin without some drama..
I have been reading this fat thread carefully for the past few days, and I can see in detail that many people have made many complaints about Kucoin. KuCoin exchange has been defrauding users and has disabled withdrawals for thousands of accounts. So I must tell you that if you need to buy and sell other coins including Bitcoin, then I recommend that you use an exchange other than KuCoin.
Enter this link:
https://bitcointalk.org/index.php?topic=5557466.msg65752334#msg65752334You are likely correct that cloud mining (and telling everyone how wonderful it is going to be, blah blah blah) is likely merely just another way for KuCoin, et al, to scam its users.
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