rpietila Wall Observer - the Quality TA Thread ;)

[Wexlike]

I try to have long term goals but it's very discouraging when you can't have any savings since it goes to pay basic needs, so you cannot start any sort of meaningful life proyect. I've already given up on owning my own place and bringing girls there and generally living like a normal healthy human being. Im stuck in my parents house for life until I inherit it or some shit.

When I was 12 I realized I need to get to Helsinki or I would be stuck in a village where the distance to the nearest elementary school is 25 km and employment was about 30%. (My brother currently runs the farm and both parents are working outside in addition, to make the ends meet.) So I needed to undergo the following, among others:

- Working on farms (several employers), potatoes, picking strawberries, manufacturing & selling products, general farmwork, to raise money
- Buying and playing every title of the Sid Meier's Civilization series to enhance strategic thinking
- Saving money whenever possible, especially never buying a drink (even at my own sophomore party), always drinking from the toilet tap, going a whole day without drinking if tap water wasn't available, walking up to 8 km habitually just to save money, never buying clothes or food until 18
- Investing in stocks in the age of 16, in Russian market when 18, it went down 75% in 2 weeks since I bought
- Biking 22 km/day instead of taking a subsidized bus, to save money; hopping off bus 1 km early because the fare was cheaper
- Delivering spam to ppl's mailbox, twice per week, up to 830 mailboxes at a time, while trying to study
- Scavenging the trashbins for food, living up to 6 weeks without even once buying groceries, during uni
- Falling victim to multiple scams and money-making schemes
- First company went bankrupt and due to good luck, I did not end up losing all
- Second company was still making loss after 5 years, so essentially I subsidized it with my time and lived off wife's salary
- An arm of the government of Finland confiscated all my assets once for 7 months, no charges, no compensation
- Only occasionally had a car or two (or up to 8 when we had a car rental agency)
- Never owned real estate before buying the castle
...
- Making my first million at the age of 29, a mere 17 years after making the commitment to do so.

=> Make a target and stick to it. The unalterable laws of statistics favor the determined, if you just roll the ball enough many times

17 years sounds like much, but really if you are now 23, you'll then be 40. Not everyone who is 40 has a million euros! Also you are older in the beginning, so it's possible you can do it ~4 years sooner just for that reason. Then the general speed of things has increased a lot, shave off an additional 2 years. So at 34, you'll be a millionaire!

Thats a great read!

I am in a similar situation, working my ass off in 2 jobs while giving tutorials in university and trying to finish my studies. And investing/saving every penny i can into Bitcoins.

I am not doing it as extreme as you did, but i only need 250€ per month - i think thats a good number. Every € above that number goes into Bitcoins.

GiveBTCpls, i have a lot friends like you. Blaming everyone else or the universe for their situation, but in reality its always their own fault.

For example, they re paying 40€/month for their smartphone contracts, and then they are surprised, that they have no money.

If you are paying more than 10€ per month for your phone, well then you are one of them.

[1714482957]

1714482957

[BldSwtTrs]

I try to have long term goals but it's very discouraging when you can't have any savings since it goes to pay basic needs, so you cannot start any sort of meaningful life proyect. I've already given up on owning my own place and bringing girls there and generally living like a normal healthy human being. Im stuck in my parents house for life until I inherit it or some shit.

When I was 12 I realized I need to get to Helsinki or I would be stuck in a village where the distance to the nearest elementary school is 25 km and employment was about 30%. (My brother currently runs the farm and both parents are working outside in addition, to make the ends meet.) So I needed to undergo the following, among others:

- Working on farms (several employers), potatoes, picking strawberries, manufacturing & selling products, general farmwork, to raise money
- Buying and playing every title of the Sid Meier's Civilization series to enhance strategic thinking
- Saving money whenever possible, especially never buying a drink (even at my own sophomore party), always drinking from the toilet tap, going a whole day without drinking if tap water wasn't available, walking up to 8 km habitually just to save money, never buying clothes or food until 18
- Investing in stocks in the age of 16, in Russian market when 18, it went down 75% in 2 weeks since I bought
- Biking 22 km/day instead of taking a subsidized bus, to save money; hopping off bus 1 km early because the fare was cheaper
- Delivering spam to ppl's mailbox, twice per week, up to 830 mailboxes at a time, while trying to study
- Scavenging the trashbins for food, living up to 6 weeks without even once buying groceries, during uni
- Falling victim to multiple scams and money-making schemes
- First company went bankrupt and due to good luck, I did not end up losing all
- Second company was still making loss after 5 years, so essentially I subsidized it with my time and lived off wife's salary
- An arm of the government of Finland confiscated all my assets once for 7 months, no charges, no compensation
- Only occasionally had a car or two (or up to 8 when we had a car rental agency)
- Never owned real estate before buying the castle
...
- Making my first million at the age of 29, a mere 17 years after making the commitment to do so.

=> Make a target and stick to it. The unalterable laws of statistics favor the determined, if you just roll the ball enough many times

17 years sounds like much, but really if you are now 23, you'll then be 40. Not everyone who is 40 has a million euros! Also you are older in the beginning, so it's possible you can do it ~4 years sooner just for that reason. Then the general speed of things has increased a lot, shave off an additional 2 years. So at 34, you'll be a millionaire!

Thats a great read!

I am in a similar situation, working my ass off in 2 jobs while giving tutorials in university and trying to finish my studies. And investing/saving every penny i can into Bitcoins.

I am not doing it as extreme as you did, but i only need 250€ per month - i think thats a good number. Every € above that number goes into Bitcoins.

GiveBTCpls, i have a lot friends like you. Blaming everyone else or the universe for their situation, but in reality its always their own fault.

For example, they re paying 40€/month for their smartphone contracts, and then they are surprised, that they have no money.

If you are paying more than 10€ per month for your phone, well then you are one of them.

Phone contract expenses are not the worst, there are people who complains about not having money while spending 200€/month on cigarettes...

[Wexlike]

exactly, they fall into the same category.

[conspirosphere.tk]

what happens if there is no interest for the etf shares?

i hope so, since i expect that the most likely effect will be like the gold and silver ETFs on pm price.
if they will sell multiples in btc-promises of what they own it could drain lots of liquidity from the market

Could you elaborate, what happened there? Wouldn't a drained liquidity simply push the price up? Isn't that good?

It seems that gold paper promises amount to 100X+ the physical gold stock. You get that if you sell pieces of paper as gold-substitutes you push the price of the real thing lower, since you subtract demand from the real-thing's market.

I expect that the BTC ETFs will work exactly in the same way.

[dreamspark]

what happens if there is no interest for the etf shares?

i hope so, since i expect that the most likely effect will be like the gold and silver ETFs on pm price.
if they will sell multiples in btc-promises of what they own it could drain lots of liquidity from the market

Could you elaborate, what happened there? Wouldn't a drained liquidity simply push the price up? Isn't that good?

It seems that gold paper promises amount to 100X+ the physical gold stock. You get that if you sell pieces of paper as gold-substitutes you push the price of the real thing lower, since you subtract demand from the real-thing's market.

I expect that the BTC ETFs will work exactly in the same way.

The thing to remember about the Winkl ETF is they own a lot of the underlying asset. They aren't going to sell their btc as part of the etf they will simply be buying more. Now if they hold a significant amount of BTC why would they want to keep the price of their investment down? Lets not forget gold vs btc we're talking about trillions vs a few billion.

[giveBTCpls]

So rpietila is starting a Bitcoin illuminati Rothchild Bildercoin group from hell. Meanwhile im unemployed and still don't have an entire BTC.  Financial freedoom

What's your age range and your skills?  Rpietilla is in his late 30s I think (even though some of his pictures look older.. he he he), so he has had some opportunities (and most likely should admit luck) to have achieved a form of financial freedom - nonetheless, NO one's financial freedom is completely ensured unless they are sure that their assets are sufficiently diversified and hedged.  Also, the person must be able to live within the means of the passive income from the assets.  Accordingly, there may be a need to continuously monitor the status of such "financial freedom" - unless the wealth buffer remains sufficiently great in order to make any threat to "FF" a non-issue.

Im in my mid 20's and my skills aren't anything that can be moniterised, or that can give you more than peanuts, I like music and as you can see I can type in english but I cant teach it because my acccent is shit as I dont have any english friends. My country has the most unemployment in europe. Even if I had skills I would be fucked anyway. Bitcoin doesnt solve this.

Bitcoin isn't a cure-all. It can solve some issues regarding economy and politics, but it won't solve unemployment. You can however use trading to make money - even if you start small. And I do live in Greece btw where unemployment is like 30% / young unemployment is over 60%.

The primary problem is not Bitcoin, the socioeconomic environment etc etc. These are excuses. 99% of the people don't have a vision of what they want to achieve. They live life as life comes to them instead of planning it. Once you have a proper vision, and reinforce it through your subconscious (subconscious programming, visualization etc), stuff will start falling into place. With no vision/purpose, you can't do much. Your body and mind are like a car that goes circles - with no destination.

Trading is too risky and not worth if you are playing with peanuts, whenever i've tried trading I fuck half it up of the times. Whatever happens happen, im not responsible for it and no one is. In a way we are just discovering our lifes which are already determined, this is a hard thing to grasp. This is also why objectively no one deserves to be poor or rich, or be be punished because they killed someone or what not. I mean of course we need to lock "the bad guys" for our own safety, but it's not their fault. Like a I said, it's a hard thing to grasp.

If you are interested in digital currency why not enrol in the MOOC Digital Currency course through Uni of Nicosia? The 3 month introduction is free and the rest of the Masters course is expensive but they are handing out grants to the underprivileged.

Otherwise, try experimenting with your attitude. A determined, positive outlook surely beats hopelessness, give it a try.

So what do you study here exactly and how would that help me getting a job anyway? Is it too technical? Im not a technical person, im not cut for that.

[giveBTCpls]

I try to have long term goals but it's very discouraging when you can't have any savings since it goes to pay basic needs, so you cannot start any sort of meaningful life proyect. I've already given up on owning my own place and bringing girls there and generally living like a normal healthy human being. Im stuck in my parents house for life until I inherit it or some shit.

When I was 12 I realized I need to get to Helsinki or I would be stuck in a village where the distance to the nearest elementary school is 25 km and employment was about 30%. (My brother currently runs the farm and both parents are working outside in addition, to make the ends meet.) So I needed to undergo the following, among others:

- Working on farms (several employers), potatoes, picking strawberries, manufacturing & selling products, general farmwork, to raise money
- Buying and playing every title of the Sid Meier's Civilization series to enhance strategic thinking
- Saving money whenever possible, especially never buying a drink (even at my own sophomore party), always drinking from the toilet tap, going a whole day without drinking if tap water wasn't available, walking up to 8 km habitually just to save money, never buying clothes or food until 18
- Investing in stocks in the age of 16, in Russian market when 18, it went down 75% in 2 weeks since I bought
- Biking 22 km/day instead of taking a subsidized bus, to save money; hopping off bus 1 km early because the fare was cheaper
- Delivering spam to ppl's mailbox, twice per week, up to 830 mailboxes at a time, while trying to study
- Scavenging the trashbins for food, living up to 6 weeks without even once buying groceries, during uni
- Falling victim to multiple scams and money-making schemes
- First company went bankrupt and due to good luck, I did not end up losing all
- Second company was still making loss after 5 years, so essentially I subsidized it with my time and lived off wife's salary
- An arm of the government of Finland confiscated all my assets once for 7 months, no charges, no compensation
- Only occasionally had a car or two (or up to 8 when we had a car rental agency)
- Never owned real estate before buying the castle
...
- Making my first million at the age of 29, a mere 17 years after making the commitment to do so.

=> Make a target and stick to it. The unalterable laws of statistics favor the determined, if you just roll the ball enough many times

17 years sounds like much, but really if you are now 23, you'll then be 40. Not everyone who is 40 has a million euros! Also you are older in the beginning, so it's possible you can do it ~4 years sooner just for that reason. Then the general speed of things has increased a lot, shave off an additional 2 years. So at 34, you'll be a millionaire!

Interesting unfolding of your life, the part I don't get is, how did you from there to making 1 million exactly? And how im going to be a millonaire at 34 specifically? Also im 25 soon. Im also an autist, I need specific step by step instructions to function. I didn't chose to be born like this, is just the way I percieve the world. Ironically, im really bad at programing, which should be a benefit of being autist. Not even that, lol.
The only way I see being a millonaire at 34 is if BTC goes to like 50K per coin, otherwise unless something else lucky happens, it's not gonna happen, realistically speaking and given the current situation.

[giveBTCpls]

I try to have long term goals but it's very discouraging when you can't have any savings since it goes to pay basic needs, so you cannot start any sort of meaningful life proyect. I've already given up on owning my own place and bringing girls there and generally living like a normal healthy human being. Im stuck in my parents house for life until I inherit it or some shit.

When I was 12 I realized I need to get to Helsinki or I would be stuck in a village where the distance to the nearest elementary school is 25 km and employment was about 30%. (My brother currently runs the farm and both parents are working outside in addition, to make the ends meet.) So I needed to undergo the following, among others:

- Working on farms (several employers), potatoes, picking strawberries, manufacturing & selling products, general farmwork, to raise money
- Buying and playing every title of the Sid Meier's Civilization series to enhance strategic thinking
- Saving money whenever possible, especially never buying a drink (even at my own sophomore party), always drinking from the toilet tap, going a whole day without drinking if tap water wasn't available, walking up to 8 km habitually just to save money, never buying clothes or food until 18
- Investing in stocks in the age of 16, in Russian market when 18, it went down 75% in 2 weeks since I bought
- Biking 22 km/day instead of taking a subsidized bus, to save money; hopping off bus 1 km early because the fare was cheaper
- Delivering spam to ppl's mailbox, twice per week, up to 830 mailboxes at a time, while trying to study
- Scavenging the trashbins for food, living up to 6 weeks without even once buying groceries, during uni
- Falling victim to multiple scams and money-making schemes
- First company went bankrupt and due to good luck, I did not end up losing all
- Second company was still making loss after 5 years, so essentially I subsidized it with my time and lived off wife's salary
- An arm of the government of Finland confiscated all my assets once for 7 months, no charges, no compensation
- Only occasionally had a car or two (or up to 8 when we had a car rental agency)
- Never owned real estate before buying the castle
...
- Making my first million at the age of 29, a mere 17 years after making the commitment to do so.

=> Make a target and stick to it. The unalterable laws of statistics favor the determined, if you just roll the ball enough many times

17 years sounds like much, but really if you are now 23, you'll then be 40. Not everyone who is 40 has a million euros! Also you are older in the beginning, so it's possible you can do it ~4 years sooner just for that reason. Then the general speed of things has increased a lot, shave off an additional 2 years. So at 34, you'll be a millionaire!

Thats a great read!

I am in a similar situation, working my ass off in 2 jobs while giving tutorials in university and trying to finish my studies. And investing/saving every penny i can into Bitcoins.

I am not doing it as extreme as you did, but i only need 250€ per month - i think thats a good number. Every € above that number goes into Bitcoins.

GiveBTCpls, i have a lot friends like you. Blaming everyone else or the universe for their situation, but in reality its always their own fault.

For example, they re paying 40€/month for their smartphone contracts, and then they are surprised, that they have no money.

If you are paying more than 10€ per month for your phone, well then you are one of them.

I have a shitty blackberry and I never make calls, I only use Whatsapp so I pay about 6€ monthly for my contract. I don't smoke, drink or go out partying. I barely go out because I can't pay for the train to begin with.

So like I said, my only scape that I see right now, realistically, is if Bitcoin goes much higher in the next 10 years. So unless this was it and the big gains already happened, im pretty much fucked, unless totally out of my control lucky events unfold.

[BldSwtTrs]

So rpietila is starting a Bitcoin illuminati Rothchild Bildercoin group from hell. Meanwhile im unemployed and still don't have an entire BTC.  Financial freedoom

What's your age range and your skills?  Rpietilla is in his late 30s I think (even though some of his pictures look older.. he he he), so he has had some opportunities (and most likely should admit luck) to have achieved a form of financial freedom - nonetheless, NO one's financial freedom is completely ensured unless they are sure that their assets are sufficiently diversified and hedged.  Also, the person must be able to live within the means of the passive income from the assets.  Accordingly, there may be a need to continuously monitor the status of such "financial freedom" - unless the wealth buffer remains sufficiently great in order to make any threat to "FF" a non-issue.

Im in my mid 20's and my skills aren't anything that can be moniterised, or that can give you more than peanuts, I like music and as you can see I can type in english but I cant teach it because my acccent is shit as I dont have any english friends. My country has the most unemployment in europe. Even if I had skills I would be fucked anyway. Bitcoin doesnt solve this.

Bitcoin isn't a cure-all. It can solve some issues regarding economy and politics, but it won't solve unemployment. You can however use trading to make money - even if you start small. And I do live in Greece btw where unemployment is like 30% / young unemployment is over 60%.

The primary problem is not Bitcoin, the socioeconomic environment etc etc. These are excuses. 99% of the people don't have a vision of what they want to achieve. They live life as life comes to them instead of planning it. Once you have a proper vision, and reinforce it through your subconscious (subconscious programming, visualization etc), stuff will start falling into place. With no vision/purpose, you can't do much. Your body and mind are like a car that goes circles - with no destination.

Trading is too risky and not worth if you are playing with peanuts, whenever i've tried trading I fuck half it up of the times. Whatever happens happen, im not responsible for it and no one is. In a way we are just discovering our lifes which are already determined, this is a hard thing to grasp. This is also why objectively no one deserves to be poor or rich, or be be punished because they killed someone or what not. I mean of course we need to lock "the bad guys" for our own safety, but it's not their fault. Like a I said, it's a hard thing to grasp.

If you are interested in digital currency why not enrol in the MOOC Digital Currency course through Uni of Nicosia? The 3 month introduction is free and the rest of the Masters course is expensive but they are handing out grants to the underprivileged.

Otherwise, try experimenting with your attitude. A determined, positive outlook surely beats hopelessness, give it a try.

So what do you study here exactly and how would that help me getting a job anyway? Is it too technical? Im not a technical person, im not cut for that.

Technical persons weren't technical persons until the day they started to learn technical stuff.

[ensurance982]

what happens if there is no interest for the etf shares?

i hope so, since i expect that the most likely effect will be like the gold and silver ETFs on pm price.
if they will sell multiples in btc-promises of what they own it could drain lots of liquidity from the market

Could you elaborate, what happened there? Wouldn't a drained liquidity simply push the price up? Isn't that good?

It seems that gold paper promises amount to 100X+ the physical gold stock. You get that if you sell pieces of paper as gold-substitutes you push the price of the real thing lower, since you subtract demand from the real-thing's market.

I expect that the BTC ETFs will work exactly in the same way.

Ah really? Well that's a bummer then. But do they really are 2 orders of magnitude above the actual reserves of gold??
Basically, they're running a fractional reserve then??!

[minerpumpkin]

what happens if there is no interest for the etf shares?

i hope so, since i expect that the most likely effect will be like the gold and silver ETFs on pm price.
if they will sell multiples in btc-promises of what they own it could drain lots of liquidity from the market

Could you elaborate, what happened there? Wouldn't a drained liquidity simply push the price up? Isn't that good?

It seems that gold paper promises amount to 100X+ the physical gold stock. You get that if you sell pieces of paper as gold-substitutes you push the price of the real thing lower, since you subtract demand from the real-thing's market.

I expect that the BTC ETFs will work exactly in the same way.

The thing to remember about the Winkl ETF is they own a lot of the underlying asset. They aren't going to sell their btc as part of the etf they will simply be buying more. Now if they hold a significant amount of BTC why would they want to keep the price of their investment down? Lets not forget gold vs btc we're talking about trillions vs a few billion.

It comes basically down to the question if they're only selling Bitcoin they actually do have. Is that even allowed to sell more Bitcoin than they actually own in this case?

[TheUniporn]

what happens if there is no interest for the etf shares?

i hope so, since i expect that the most likely effect will be like the gold and silver ETFs on pm price.
if they will sell multiples in btc-promises of what they own it could drain lots of liquidity from the market

Could you elaborate, what happened there? Wouldn't a drained liquidity simply push the price up? Isn't that good?

It seems that gold paper promises amount to 100X+ the physical gold stock. You get that if you sell pieces of paper as gold-substitutes you push the price of the real thing lower, since you subtract demand from the real-thing's market.

I expect that the BTC ETFs will work exactly in the same way.

Will it work with BTC? You can easily take BTC out and put it in your pocket so to speak, but it's quite complicated with gold/etc.

[conspirosphere.tk]

Ah really? Well that's a bummer then. But do they really are 2 orders of magnitude above the actual reserves of gold??
Basically, they're running a fractional reserve then??!

yes you can find thousands of articles on the subject published in the latest years. But it's actually a tricky subject because the *actual* world's gold stock is supposedly greater of order of magnitudes than the *official* world's gold stock. This is because in every war since the beginning of history gold tends to magically disappear, often forever (cfr. 'Yamashita's gold')

[magicmexican]

- Buying and playing every title of the Sid Meier's Civilization series to enhance strategic thinking

A crucial part to success, which part is your favorite?

[rpietila]

For example, they re paying 40€/month for their smartphone contracts, and then they are surprised, that they have no money.

If you are paying more than 10€ per month for your phone, well then you are one of them.

Phone contract expenses are not the worst, there are people who complains about not having money while spending 200€/month on cigarettes...

Never smoked before I was a millionaire, not even once (except in the army when I once got two free cigs).

...but NOW my phone contract is 50€+ and 500-1000€/month go to cigars, plus the car is 1000€+ and then the castle expenses

I think it all boils down to the understanding of cash flow and exponential function.

[lemonte]

For example, they re paying 40€/month for their smartphone contracts, and then they are surprised, that they have no money.

If you are paying more than 10€ per month for your phone, well then you are one of them.

Phone contract expenses are not the worst, there are people who complains about not having money while spending 200€/month on cigarettes...

Never smoked before I was a millionaire, not even once (except in the army when I once got two free cigs).

...but NOW my phone contract is 50€+ and 500-1000€/month go to cigars, plus the car is 1000€+ and then the castle expenses

I think it all boils down to the understanding of cash flow and exponential function.

Rpietila, you have not posted any cigar suggestions in a while. I am getting married next year, what would you recommend for the occasion?

[rpietila]

Rpietila, you have not posted any cigar suggestions in a while. I am getting married next year, what would you recommend for the occasion?

You wife will probably not like the smell of cigar in your mouth, so I recommend wiping your tongue with toothpaste several times before the night.

[lemonte]

Rpietila, you have not posted any cigar suggestions in a while. I am getting married next year, what would you recommend for the occasion?

You wife will probably not like the smell of cigar in your mouth, so I recommend wiping your tongue with toothpaste several times before the night.

Thanks for the advice, she hates the smell, but doesn't mind the taste on my lips. What cigars would you recommend I smoke and give to close friends and relatives?

[dreamspark]

It comes basically down to the question if they're only selling Bitcoin they actually do have. Is that even allowed to sell more Bitcoin than they actually own in this case?

Someone correct me if I'm wrong but I beleive that they are only able to offer as much as they own. This is why I made the point about how they aren't going to be putting up their own coins so all etf coins will have to be bought from the general market.

[rpietila]

Thanks for the advice, she hates the smell, but doesn't mind the taste on my lips. What cigars would you recommend I smoke and give to close friends and relatives?

Country: cigars are either Cuban or non-Cuban. Cuban largest brands are Cohiba (best), Montecristo, Partagas, Romeo & Juliet, plus many others.

Thickness: 50-60 gauge is the most enjoyable, about 40 is the daytime cigar, 30 is a small one and 20 is cigarette thickness.

Length: does not matter as much as thickness, so Robusto (short but thick) is generally good.

For a special occasion, Cohiba Robustos/Siglo VI or even Cohiba Behike works perfectly. For guests, you can give cheaper R&J Wide Churchills that really pack a punch