Bitcoin for the elderly homeless.

[Jet Cash]

OK, so the title is a bit of click  bait. I don't regard myself a elederly, as I'm a healthy 81-year old, and I'm not really homeless. I've just distanced myself from residential property. Local taxes and utiiity prices have become too onerous, and no longer offer reasonable value. I've become a digital nomad while I sort out all the dross from my past. This thread is about a savings evaluation project as we move into the banking crisis, that will be arriving soon.

I'm starting with 4 elements -

A high interest savings account with a regular bank, and I'll be paying in £50 per month to get an interest rate of 6.25%
I've got £3,600 in premium bonds, and I'll leave those alone to see how they fare over the next year. They haven't done too well, as I only received £100 over the last year.
The Euro millions lottery, and I'll be spending £5 per week to see what return I can get. I'm expecting the yield to be negative on this.
Bitcoin is the interesting one though.

I have a Huawei Matebook with an i5 processor, and 512Mb of RAM.  The HDD is too small, and I'll upgrade it to 2Tb. I haven't had the case open yet, but I believe it may have a second slot for an extra drive. If this is so, then I'll use the second drive to run a full archiving node, and I'll start that from scratch to see how long it takes. With no permanent residence, I'm going to have to use public WiFi, and tethering on my mobile. I've got an unlimited data plan, but if I start to hammer it by synchronising the blockchain, they may start tro throttle it. I'm running Windows 11 because I haven't got round to removing it, but I'll put a Linux variant on the new drive. I just need to decide which one. The Huawei is great, as it has up to 13 hours battery life, and it is charged through a USB-C port. That means I can charge it in the van, or in a Cafe.

The Bitcoin purchasing policy is a bit of a quandary. I'm somewhat of a loose cannon, so I don't want to link it to income of existing savings. I did some scalping through Coinbase a while ago, but Coinbase has changed, and so have the government regulations and taxes. My plan at the moment is to find a suitable exchange, and to jump in when the price drops by 5% or 10%, I haven't decided which. The price is on a slowly rising incline at the moment as we move towards the halving. I am aware of the possibility of a drop some time after this due to profit taking. Waiting foor a 10% drop will give me the chance to upgrade the Matebook, and synchronise a full node.

I'd be interested in some comments and suggestions from you guys. If you are new to Bitcoin, then you are welcome to asjk questions. Similarly, if you are considering moving off grid, then pitch in with your observations. I'm particularly interested in the use of LoRa in conjunction with Bitcoin. If this is feasible, then it could allow us to continue using Bitcoin without a global Internet.

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[Mia Chloe]

This article is a nice piece I must say.
Using fiat to carry out savings has become useless due to the fact that inflation is bringing the economy down day by day.
Therefore investing in something that pays more deviden such as Bitcoin is a better option. This is because you will find out that of you save in fiat  even if there is a percentage of profit, inflation will mathematically take out the profit and sometimes even more making you end up with a gross loss.

Buying the Bitcoin is a nice idea but what channel do you want to make use of in other to keep your privacy at its peak? I am asking this because the last time I checked centralized exchanges like Coinbase requires a level of KYC before you can buy or sell crypto , and in your write up you made mention of staying off the grid.

[SamReomo]

After long time I'm seeing your post, I'm happy that I found this post and I believe I can give you some suggestions that might help you out.

My first suggestion is to increase the amount of ram of that laptop to at least 4 GB and try to install Linux in it, however with 4 GB ram Windows 11 may also work fine.

In regard of exchange I suggest you to go with either Binance or Bybit as both of those are good exchanges. You can also give a shot to Bisq if it works for you then it's better than centralized exchanges.

Make sure to use a VPN if you can because at public Wifi VPN can be quite useful in protecting privacy and also for security.

I hope those suggestions may be helpful for you!

[Aanuoluwatofunmi]

The Bitcoin purchasing policy is a bit of a quandary. I'm somewhat of a loose cannon, so I don't want to link it to income of existing savings. I did some scalping through Coinbase a while ago, but Coinbase has changed, and so have the government regulations and taxes.

Most of these exchanges are being regulated except one will make use of a decentralized exchange, but many that are into trading knows how they make it up with every requirements needed by them and still make their profits despite all the exchanges requested.

My plan at the moment is to find a suitable exchange, and to jump in when the price drops by 5% or 10%, I haven't decided which. The price is on a slowly rising incline at the moment as we move towards the halving. I am aware of the possibility of a drop some time after this due to profit taking. Waiting foor a 10% drop will give me the chance to upgrade the Matebook, and synchronise a full node.

There's a possibility we may experience a little drop in the market price but we are not sure if that is visible for now, many other investors and traders I've seen making predictions are only giving on more bull to come, however, we cannot always be at that alone, maybe all i could advise is that you place an order and set a limit to in which when such happens, you may have your exchange confirmed and could earn something more higher on it as the market pumps again.

[Mia Chloe]

After long time I'm seeing your post, I'm happy that I found this post and I believe I can give you some suggestions that might help you out.

My first suggestion is to increase the amount of ram of that laptop to at least 4 GB and try to install Linux in it, however with 4 GB ram Windows 11 may also work fine.

In regard of exchange I suggest you to go with either Binance or Bybit as both of those are good exchanges. You can also give a shot to Bisq if it works for you then it's better than centralized exchanges.

Make sure to use a VPN if you can because at public Wifi VPN can be quite useful in protecting privacy and also for security.

I hope those suggestions may be helpful for you!

According to what jet cash said, from my understanding he has settled for windows and I believe it is quite understandable because Linux can be difficult to work with sometimes especially for someone with his age.
Still those exchanges will require KYC for you to be able to make purchases in crypto and both binance and bybit require high level of KYC.

Therefore as for the aspect of buying, I would suggest he does that via a forum P2P transaction with a reputable member here on the forum when the time comes. Especially with someone that has a reputation for such deals.
Also, I believe it would also be quite tasky  to determine the best time to make the Bitcoin purchase when there is a 5% or 10% dip like you mentioned. This is because the market can be quite tempting sometimes when trying to get a friendly price.

And of course VPNs will be very useful especially since he is using a closed source system like windows. And for that also I recommend he makes use of Tor. As it is even better than most paid VPNs out there coupled with the fact that it is free and also open source.

[Plaguedeath]

If you want to achieve a complete privacy, you need to use Tor instead of VPN, VPN isn't completely mask your real locations. Bisq is the best choice for privacy, the disadvantage is just the volume.

AFAIK the only one centralized exchange that currently still allow you to deposit and withdraw (temporary) without KYC is MEXC, make sure you didn't trade a lot.

Your life makes me remember with OutdoorBoys, sometime I watched his videos and it's really interesting to life in nature!

[Jet Cash]

Thanks for the reply.
I'm not too bothered about privacy per se. I'm more concerned about taking control of my life, whilst staying within the bounds of the law. I don't pay property taxes, or any of the usual household bills, but with 3 vehicles, I do pay fuel annd highway taxes. I also pay income taxes if required, but I'm fortunately able to take advantage of various allowances. That was one of the reasons I indulged in scalping Bitcoin. It allowed me to take advantage of gains tax allowances as I accumulated Bitcoin. I don't think Bitcoin is voilatile enough for me to revert to that though. I thionk buy and HODL may be a better approach now, but I'll see how the market shapes up later this year.

I might try to flip a car for Bitcoin in the summer. I've learnt a  lot about Volvo redblock engines, and I reckon I can make a grand or twio by flipping one. The problem is that I don't think classic Volvo buyers are into Bitcoin. There is also the probablity that cash payments will be restricted, and I've always used cash to buy and sell cars.

[Hatchy]

A high interest savings account with a regular bank, and I'll be paying in £50 per month to get an interest rate of 6.25%
I've got £3,600 in premium bonds, and I'll leave those alone to see how they fare over the next year. They haven't done too well, as I only received £100 over the last year.

Haven't seen you for a while and I was beginning to wonder where you've been. Nice to have you back.

Well on going through your post I guess it's really frustrating to know that your investment hasn't been profiting you for a long time. Thats why I still prefer Bitcoin investment to all other investment out there. I would suggest you sell some of your shares, and invest them in Bitcoin for now and monitor how much profit you've made from it in the long run. Sincerely if it were me, I would buy Bitcoin with them all since it's really not making much profit as expected. Like you said in one of your other post

Since March of 2023, Bitcoin has risen by 237%. If my maths is correct, then £3,600 invested in Bitcoin would have shown a profit of £8,532 at today's price.

You would have made more if you had invested in Bitcoin instead. As for exchanges, most of the non centralized bodies have now been forced to follow with government rules just to stay in business. Just few decentralized exchange we have left but I will still prefer you try buying using binance.
Bitcoin movement has been quite interesting for weeks now and we might be expecting more for a while. But there's certainty that we might experience a slight decline in it's price before the halving but nothing to worry about.

[Jet Cash]

According to what jet cash said, from my understanding he has settled for windows and I believe it is quite understandable because Linux can be difficult to work with sometimes especially for someone with his age.

Cheeky thing.

What has age go to do with using Linux? I've got Ubuntu on the netbook, and I find it easier toi use than Windows. Sometimes it takes me half a day to find out how to modify Windows, and then it changes it back next time it does a forced update. It usually time its update to concide with a time that I'm not plugged into mains electricity, and I'm in a hurry. I don't want the crappy Windows updates that just restrict me and slow down the computer. I'm toying with the idea of using Kali, but I haven't done any recent investigations into Linux distros.

@Hatchy
Thanks for the kind words. I sold my shares quite a few years ago, and switched into property. That cost me a lot of money, as it was linked to a failed relationship.

[electronicash]

Thanks for the reply.
I'm not too bothered about privacy per se. I'm more concerned about taking control of my life, whilst staying within the bounds of the law. I don't pay property taxes, or any of the usual household bills, but with 3 vehicles, I do pay fuel annd highway taxes. I also pay income taxes if required, but I'm fortunately able to take advantage of various allowances. That was one of the reasons I indulged in scalping Bitcoin. It allowed me to take advantage of gains tax allowances as I accumulated Bitcoin. I don't think Bitcoin is voilatile enough for me to revert to that though. I thionk buy and HODL may be a better approach now, but I'll see how the market shapes up later this year.

I might try to flip a car for Bitcoin in the summer. I've learnt a  lot about Volvo redblock engines, and I reckon I can make a grand or twio by flipping one. The problem is that I don't think classic Volvo buyers are into Bitcoin. There is also the probablity that cash payments will be restricted, and I've always used cash to buy and sell cars.

while cash payment is still not restricted i guess it's to be taken advantage of right now. sell the other 2.  

moving off-grid is a bit harsh for someone who has been on the internet half their life where everyone they knew is just right there.  if by any chance they could still access the internet, solar panels would be important you don't have to visit a cafe. for the 10% drop, a purchase on ATM machine might be an option if you want to avoid coinbase.

[SamReomo]

Thanks for the reply.
~Snip~

You're most welcome, in fact it's my pleasure to comment on this thread. Yes, buying and HODLING is going to be a good approach in current market conditions. There is a chance that Bitcoin may reach $100k or more within two years, and if you follow that HODLING approach then you will have good profits when it reaches or crosses $100k value. Dip buying can also be useful and I'm sure you'll buy when you see a dip because you stated in your OP that you'll purchase Bitcoin when it drops 5% to 10%, and I'm sure you're into that dip buying approach as well.

I'm not sure if Volvo redblock lovers agree to purchase that those engines with Bitcoin, and I also believe that you can easily get a grand at least by flipping one of those, but I don't think that there will be many classic Volvo buyers who might pay you with Bitcoin. Cash payment could be a good option if it's not restricted. You should ask those classic Volvo buyers to send you the payment in Bitcoin. You may convince them that if they pay with Bitcoin then you will give them discount of 2-4%, however if they pay with cash then there will not be any discount.

[2Pizza410000BTC]

I have read all the writings you have given me and came up with some suggestions for you, since you are familiar with Bitcoin and know a lot about Bitcoin, why are you keeping money in the bank instead of Bitcoin? You are a healthy person of 81 years old and you can definitely do a good business or Bitcoin investment or trading if you want. Currently there is inflation in different countries if there is inflation in your country there is no benefit to keep money in bank so i can say for you you can invest or trade in bitcoin as you are experienced about bitcoin. If you invest or trade your money in bitcoins I think you can earn much more by investing or trading bitcoins than by keeping money in the bank. Because right now you might have watched the market, you might have found out for yourself how successful you would have been with Bitcoin.

Also one more tip I want to give you is that since you are a legend in bitcoin forum you can still earn $70 to $100 a week by entering a good campaign if you want. You will be much better off if you keep this legendary account active rather than retired. You may take my advice into consideration and I wish you good health to God that you may walk in good health.

[Jet Cash]

There are a few constraints.
- There are no Bitcoin ATMs in the UK. I understand that in 2022, the FCA banned them all.
- The RAM in the Matebook is hard soldered onto the motherboard, so it can't be upgraded. I'll have a look inside to see what upgrades are viable. I read somewhere that the i5 could be replaced by an i7, but that seems unlikely to me, and may not be worth the efford. I'll be really pleased if I can fit 2 drives, but it looks as if I can fit a  Crucial | Model: CT4000P3PSSD8 which is 4Tb. That should be enought to run a node for a while. I want to keep the drive internal to reduce the power requirement, and for speed.
- The Euro Lottery tickets are probably going to be stupid loss makers, and I don't recommend those.
- The premium bonds were purchased as emergency savings. I chose over £3,000, as that seemed to be a sweet  spot for winnings, but statistically it shouldn't make a difference. I guess this is my relationship with Lady Luck from my card playing days that is showuing through.
- The monthly saving is as much to encourage me to dispose of all the redundant assets that I have in storage, and will probably never need.

I have a clearing account ( checking account ), and an instant access savings account, and a credit card. All these are used for daily living, and to smooth out my expenditure. I have no debts. I would encourage anyone to have these resources before they commence any of my new savings plans.

[SamReomo]

There are a few constraints.
- The RAM in the Matebook is hard soldered onto the motherboard, so it can't be upgraded. I'll have a look inside to see what upgrades are viable. I read somewhere that the i5 could be replaced by an i7, but that seems unlikely to me, and may not be worth the efford. I'll be really pleased if I can fit 2 drives, but it looks as if I can fit a  Crucial | Model: CT4000P3PSSD8 which is 4Tb. That should be enought to run a node for a while. I want to keep the drive internal to reduce the power requirement, and for speed.

512 MB ram is very low as compare to today's standards but if it's working smoothly then there's no need to upgrade it. A fast SSD would be sufficient enough to add some fast virtual memory that may help in increasing the response rate of the system with that 512 MB ram. Going with i7 isn't recommended at all, and I would suggest you to go with 4 TB SDD instead of 2 TB one.

As you know the system has limited physical ram and that's why it needs sufficient virtual ram in order to operate in best speeds possible, that's why try to increase the amount of virtual ram to 16 GB or more. Other then those I believe your system is more then enough to run a node for many years.

[Faisal2202]

According to what jet cash said, from my understanding he has settled for windows and I believe it is quite understandable because Linux can be difficult to work with sometimes especially for someone with his age.

Linux is not that hard to use, it is also graphical, and when I saw jetcash has a website and provides services of hosting etc. Which he did not mention it in his any of the posts on this thread, I guess there must be a reason. Well, he is not a noob, he must be a good techy guy who knows how to adopt new trends and learn new skills. The dude with such adaptive skills is just crazy. There was a time when I also adapted to new trends, but now I just don't want to.

Well, I did read some posts of jet cash, the one about octogenarians, egg shortage, etc. He is not very active I guess. But I can add to his points that BTC is the most beneficial investment I have found till now. You should not idle your money (paper money/local) Instead invest in something that can be used to store money's value. And BTC is the most easiest way, we also don't have ATMs in our country but we do P2P so I think you don't worry about that, as things can be done without BTC ATMs.

If you want to make a living with BTC, then by running a node, and becoming a validator, how can you make money? You have to be a miner and with the specs you have share I don't think you can mine BTC. I might not get your point here, but with all that laptop specs, and ram etc. AFAIK validators only earn from fee, please correct me if I am wrong. Is that what you want to be?

[Die_empty]

The title of the thread caught my attention and I was hoping to learn the relationship between Bitcoin and the homeless. Maybe this information could help me spread the news of Bitcoin to many people who have become homeless due to adverse economic conditions. It was indeed an enticing bait.

I'd be interested in some comments and suggestions from you guys. If you are new to Bitcoin, then you are welcome to asjk questions. Similarly, if you are considering moving off grid, then pitch in with your observations. I'm particularly interested in the use of LoRa in conjunction with Bitcoin. If this is feasible, then it could allow us to continue using Bitcoin without a global Internet.

I will suggest you observe the Bitcoin market and buy when the price drops. This is because it might not be very easy for a digital nomad to engage in some activities like running a node. Relying on the internet from public WiFi and phones might not be reliable. Since you don't care about KYC Binance has shown to be one of the leading exchanges globally. But you could also search for others and determine how they operate in your location.

I have thought about becoming a digital nomad because of the effect of environmental pollution on my health. I have been advised to move to a coastal town or a rural area with less industrial activities. I have started reading about LoRaWAN from their website, maybe I have to start planning for my movement out of this polluted city.

[Maus0728]

If you want to achieve a complete privacy, you need to use Tor instead of VPN, VPN isn't completely mask your real locations. Bisq is the best choice for privacy, the disadvantage is just the volume.

AFAIK the only one centralized exchange that currently still allow you to deposit and withdraw (temporary) without KYC is MEXC, make sure you didn't trade a lot.

Your life makes me remember with OutdoorBoys, sometime I watched his videos and it's really interesting to life in nature!

You can further upgrade that by not just using ToR but also using Arch Linux, then set up your own virtual machine which I think you can set in any of geo location so you're not that easily tracked, ToR is definitely a useful and @Jet Cash can probably benefit from having a device that he can connect to the Internet anytime anywhere and it's much safer, that's what I've heard Starlink does but I'm not sure there's others out there yet that does the same thing so considering that might be helpful.

To @Jet Cash, will you be planning to settle anytime soon? Or are you waiting for the market to crash so you can buy a property?

[franky1]

you have been active on this forum for years, through all the post ATH corrections('15,'18,'22) of previous ATH('17,'21).. speaking about your copper collection, but now you finally want to take a punt at bitcoin whilst its on a ATH and leading upto the next patterned superior ATH of 2025

seems you missed out on the best opportunities, once again

[oktana]

I did some scalping through Coinbase a while ago, but Coinbase has changed, and so have the government regulations and taxes.

You speak about scalping and how the issue is that Coinbase has changed. But were you good at it? Because if you were then you should aim for it. Use a good exchange (maybe Binance, if the tax and regulations is any different from Coinbase) and continue scalping. If you’re good, you can set targets of making 5% - 10% of your money daily and I think that’s decent.

[PytagoraZ]

I think that title only applies to you. Most elderly people don't understand about bitcoin. You are a different elderly person, you are cool because you have your own independence by living a nomadic life. You are not like other homeless people who have nothing but you have enough assets and being homeless is your choice and not circumstances that force you.

Regarding the trades you make, what will you do if Bitcoin continues to rise like the current situation? Do you always take 5%-10% profit when trading Bitcoin? because you are waiting for the price to drops by 5% or 10%