That was the main purpose of Satoshi creating bitcoin and nothing else but you wouldn't blame people for holding their bitcoin because we can do whatever we like with our bitcoin.
That was the main purpose of Satoshi creating bitcoin and nothing else but you wouldn't blame people for holding their bitcoin because we can do whatever we like with our bitcoin.
I don't blame anyone, nor have I attacked anyone.
But somehow our maxis do what they do best, dishing out personal attacks where arguments fail.
it seems to me that you had not been personally attacked, you dweeb
(throwing in a gratuitous personal attack for funzies)So far, your dumb ideas have been attacked, and you have provided hardly any (if any) defense for your various already made assertions. That is why they can be labelled as dumb, ill-thought out or perhaps you are merely trolling with your so far bitcoin naysaying proclamations (and your attempts at shitcoining and/or asserting that stocks are better investments than bitcoin).
-snip-
I am not him, but 200 dollars a week is about my entire salary lol.
There is no reason that you would have to use the exact amounts in order for the point to still be valid, and surely over a period of the last 7 years, any guy could have had invested right around 15% of his salary into bitcoin and by now, over 7 years, he would have had invested about the equivalent of 1 years of his income and largely he would have had been able to live off of bitcoin at the same rate of his salary.
Let's just use approximately your stated income as an example and suggest that your income over the last 7-ish years has been almost steady at that same rate, so $200 per week would be about $10,400 per year, yet since you seem to be claiming that your salary is even less than $200 per week, let's just say that it is almost $9,600 per year, which is about $800 per month and right around $184 per week, so if you were investing 15% of your income amount into bitcoin, then you would have had invested $27 per week into bitcoin over the past 7 years.
We can even use the same website and template that I had previously provided for our example and to adjust the numbers to your income level to show that if you had invested
$27 per week over the past 7 years, you would have had invested right around $9,910 into bitcoin, which is right around the same amount of your annual income. With that you would have had accumulated right around 0.70456 Bitcoin. The
200-WMA value of 0.70456 bitcoin is nearly $33k, and the spot price value is $72,623. From my own estimates, you would not yet be at a place to replace your income, and the most prudent amount of income that you could get from 0.70456 bitcoin would be right around $3,300 per year, which is ONLY around $63 per week, but you are still making progress in order to potentially be able to get to a point to replace your income within the next cycle or so, especially if you continue to invest into bitcoin at right around the same rate, and even if you stop investing into bitcoin, as long as you do not withdraw from your bitcoin, the rate of your ability to withdraw will likely double within 2-4 years (sure there are no guarantees, but still you would be on the right path in the event that you would be able to continue with a 15% investment rate into bitcoin).
So I can tell you that I am not making that much. In fact, it's a bit more than what I make, considering not all months have 4 weeks, so it's clear that not all of us can do that. You are forgetting that not only that would be more than my salary, but if you dropped it lower, then I still have to pay and live. That is the most important part. So that means, I could probably put 100 bucks a month at most, nothing more.
Ok. I did my above calculations with $27 per week, which is $116 per month, but it does not really change the conclusion, even if the numbers are lower, if you were to be able to invest 15% of your income per year into bitcoin. Of course, some folks are not able to invest 15% of their income into bitcoin, and so I concede that 15% might be a bit aggressive, and so each of us has to figure out what we are able to do within our discretionary income, in the event that we are not able to increase our discretionary income by increasing our income and/or by decreasing our expenses.
I have been in crypto since about 2013, that means, if I have put 100 dollars a month into bitcoin since 2014 (just to make sure because I do not remember when I got in during 2013), I would have invested 13.6k dollars in total, and would have 871k dollars worth of bitcoin.
O.k. Let's say that you got into bitcoin right at the beginning of 2014, and then you invested $100 per month from then until now.
Like you said, you would have had invested
$13.6k into bitcoin, and you would have had accumulated right around 10.57 BTC, which would give you
a 200-WMA value of nearly $495k, and a spot price value of nearly $1.1 million.
I like to go by the 200-WMA to figure out a reasonable withdrawal rate, so then such quantity of 10.57 BTC would give you a possible income of $49.5k per year (which is 10% of the current dollar value of the 200-WMA) or $4,125 per month, which truly is around 5x your current monthly income, and many times folks will not allow their bitcoin investment to get to such levels prior to starting to withdraw from them, yet of course, there will be personal variance too..
Seems easy to calculate right, what would happen if I had huge debts, because I did, would I solve the issue like I did now, or would I find it simple to just cash out bitcoin?
With any attempts at prudent cashflow management, you have to deal with whatever your situations are as you go, so if you start out investing in bitcoin and then you work on reducing your debts at the same time, and also you work on building your emergency funds, you may well not be able to start out investing at $100 per month since you might end up using $33 to reduce your debt, $33 to build your emergency funds and $33 to invest in bitcoin. Of course, you have to figure out the right balance to both invest in bitcoin and reduce your debt and to build your emergency funds at the same time.
Basically, calculating from the past ,is easy, I could have bought apple stock when it was at the bottom too, 20 years ago or whatever, doesn't mean I did, no reason to stick to past like that.
You do come off a bit pessimistic I must admit, but there is still time to save yourself from yourself... hahahahahahaha
You are correct that past performance does not equal future results, and some of us might be engaging in a bit of a fantasy to attempt to assess what we could have had done if we had been smarter, yet we can also learn from the past to identify bitcoin as currently among the best of places to put time, energies and money, yet at the same time, we have to work with our current financial and psychological situation (which I like to refer to as our
9 individual factors) in order to attempt to tailor our bitcoin approach, whether that is investing $100 per month or some other amount that we have determined to be sufficiently aggressive for our own personal circumstances, including that as we strengthen our cashflow management systems and back up funds, then we are also likely in a better position to invest more aggressively into bitcoin, if we have determined to prioritize our bitcoin investment over other ways that we might choose to spend our time, energies and money.
There is also likely one advantage that you have right now, as compared to an overwhelming majority of the world's population, is that they have not become enlightened about bitcoin, and they have not started to buy it, so it surely seems that we are still in early days, yet there still is a need for any of us who might be low coiners or no coiners to act upon our knowledge to attempt to start accumulating bitcoin through ongoing buying as persistently, consistently, regularly and perhaps as aggressively as we are able to do without overdoing it. Some of the parameters and the exact execution details you have to figure out for yourself and to apply it to your 9 individual factors (including reassessing your 9 individual factors from time to time).
