NOT!!!!
Apparently, you did not get enough time to stack dee cornz in the past 8.5 years that you have been registered here.
Let's say that you had an income of $50k per year, and you had invested the equivalent of 1.5x your income over the past 8.5-ish years, then you would have had invested $75k into bitcoin and you would have had invested right around $453 per week since August 2017. That would put you at 11.05 BTC right now. Sure, you might want more, but you really don't need more since you would already have enough to quit your job and to replace your job income with bitcoin passive income.
I understand that it is preferrable to have a bit of a cushion, yet you want us all to suffer so you can pick up another 0.05 BTC at $37k-ish?
I just mean I would be comfortable with the situation and keep stacking if BTC did fall to 37K.
Holy shit.
No Way, no Way.. .mana mana...
https://www.youtube.com/watch?v=1m9n5Uv0bp0I don't know how $37k-ish could be comfortable to end up being, whether quickie dip or not.
Even on a personal level, right now I have BTC buy orders that go down to about $35k - yet if the BTC price were to go below $50k, I might have to restructure my currently existing buy orders that are currently in the $40ks and and also the ones in the upper $30ks and spread them out .., perhaps I would replace them to put them all the way down to $30k... since once the BTC price breaks certain lows, then even lower prices become possible.. and in my bitcoin journey, I have run out of money too many times (or at least started to feel that I was close to running out of money too many times)..
Sure. Such an extreme dip might be o.k. once the price recovers - if the price recovers.. but it is my sense that wishing such low price points does not seem a place that actual and real true coiners would be glad to see.. or to be comfortable with.
I never wished any suffering upon anyone. That statement is almost as frightening as your opinion that a man in his 30s should quit his job in a first world country with only 11 BTC in his pocket to show for it (assuming I have 11 BTC).
Now you are going on the attack.
You are correct that I am suggesting that certain level of BTC could be sustainable forever to withdraw from and even planning on 7% per year increases in the dollar amounts.
Each person has to figure out his own numbers, and he can fuck off if he is blaming me for his calculations and if he got it wrong.
Of course, I also have tended to consider that there is value in having an extra cushion instead of pulling the fuck you lever when a guy is barely at the threshold level of income that he believes that he needs, and if bitcoin is the ONLY source for such income... so there might need to be some flexibility if a guy is exactly at the threshold level...
So, yeah I should have had provided a link for my assertion of the 11.05 BTC, since
right now I consider 11.05 BTC would be able to support an income of $4,846 per mont, which would be $58k per year with a 7% increase in the dollar amount each year.
A guy would be absolutely retarded to pull the fuck you lever if he had no cushion or if he was absolutely dependent on that amount - even though I personally think that the formula will work, but even I would likely start to employ it for some thing like $50k per year in the beginning or perhaps even less since current BTC prices are less than 25% above the 200-WMA.. (actually currently 13.5% above the 200-WMA). Guys need to do their own calculations, and surely you can agree or disagree in regards to whether the numbers are going to work out, but each person has to take responsibility for his own actions... even though I am not backing down from the assertion regarding how much of a sustainable withdrawal rate I think that 11.05 BTC will currently support... You think that I need to give guys better disclaimers in order to not be responsible for what I say in regards to bitcoin and how much bitcoin we likely need for certain sustainable income amounts?
By the way, a few years ago when I started to try to put sustainable withdraw into practice, I was initially stuck on 4% to 6% withdrawals based on either the spot price or withdrawing that quantity from the BTC stash, yet I found such amounts to be too erratic which which was why in 2022, I started to peg them to the 200 WMA, which then allowed for a higher withdrawal rate of 10% of the 200-WMA dollar value... with of course, some potential reductions in the withdrawal rate once the BTC price was less than 25% above the 200-WMA.. and between about June 2022 and October 2023, we spent a whole hell of a lot of time near or considerably below the 200-WMA.
There is surely greater risks when guys try to employ sustainable withdrawal and they are barely at their threshold limits, yet they are still responsible for themselves, even if they employ such dumb and even though I tell them what I believe the sustainable rate that bitcoin should support... even at those threshold levels.
I mean, I could buy a modestly decent family house with that coin, sure....
Sustainable withdrawal seems to be a much better practice than lowing the whole wadd on an inferior investment, when bitcoin remains amongst the best, if not the best place to keep value, which is part of the reason that many of us might want to attempt some form of reasonable sustainable withdrawal rather than blowing the whole wadd on something that is going to be very costly to close and maintain, such as a house as you mentioned. A house is a consumption good and/or utility rather than a good investment, even though folks like to treat it that way, and I even recall at various points in my bitcoin career that guys were arguing how preferrable real estate was to bitcoin, yet we know how that played out, especially in the past 10-12 years.
But that is not what I consider more than enough to get me to quit my job (assuming I am employed- I could be a homeless man living under a bridge for all anyone knows).
I described a situation in which a guy like you (based on your timeline) could have had gotten to a point to replace his income... You can disagree with the numbers, yet I think that I outlined the example enough based on a hypothetical of an existing income in the past 8.5 years and a way that a guy could end up replacing that income with sustainable withdrawal from bitcoin.
You might acknowledge that sometimes we need to go from current income, since many guys might not be able to lump sum invest, so instead they build their bitcoin investment from their income as it is coming in, and even if I may well frequently suggest a 5% to 25% as an investment amount, I suggested that a guy with 8.5 years of investing could have had fairly reasonably invested 1.5x of his income into bitcoin during that time.. .which likely would be assuming putting in towards the higher end of the range perhaps 17% to 25% might be able to accomplish such level of investment of 1.5x of income within 8.5 years.
Whatever the case may be and if we don't agree, I am surely not going to agree to anything exciting or comfortable about any BTC prices that would be coming even close to $37k in this dip, even though I would deal with such dip if it were to take place.
You are also fighting with my example, and surely a guy living under a bridge might not be a very good example of a bitcoiner, even though his costs might well be low, but then there could be difficulties figuring out discretionary income. Yours is not a great example, and the example I gave was meant to be a sort of everyman example.. since it was based on being able to invest 1.5x of income in 8.5 years... so perhaps a bit of stability, even though we know that incomes and expenses can change with the passage of time.
Poll
