yeah they should be considering
these 9 factors, yet even if they don't really know all of the answers the 9 factors, it does not mean that they should wait in terms of getting started right away..
I did not know the answers to some of the questions or factors in that thread, but I have been accumulating BTC for over a 1 year now. So this proves, that taking one step is a necessary thing toward leaning new things, On the way I did learn a lot of things and made some mistakes as well, and in the future will make too, but learn new things also.
Everyone should be able to know the basics of his own finances, and of course the more that you invest into something like bitcoin, and if you want to attempt to be aggressive in your bitcoin, investment, then you are going to need to get in touch with learning better each of the 9 factors - each one has several subcomponents that we can build in any direction yet at the same time, we might not necessarily know some of the various facets and maybe how much we have analyzed them.
Some people don't want to analyze anything and claim to just shoot from their feelings or their intuitions, so yeah, there might be some folks who don't consider themselves to be analyzing, but they still are likely to have knowledge regarding where they are at in regards to the 9 factors and some of the ways that the 9 factors can by micro-analyzed...
And for sure, don't get me wrong about knowing the 9 factors since I suggest that it is better to just get involved and get started in bitcoin as soon as possible, and you can figure out where you personally sit with each of the 9 factors as you go, and with the passage of time.
Bitcoin is available to anyone, but they have to act rather than just sitting and looking at it. No one else can act for them.
A bitter one but that's the reality, you spit facts dear.
So some of those folks are going to end up starting and getting involved in bitcoin later.. and so there are advantages to folks who are well connected, but even folks in well-connected places are not taking actions to establish their stake in bitcoin.
I have seen people who have knowledge, or wants to get knowledge but don't want to get practical. Few days ago I have a talk with my uncle and I told him about how BTC is moving, where it was before ETFs and where it is now, and gave him a short tutorial about Halving, ETFs, etc. etc. In the end he asked, should we invest in it, what do you think, I said it's your choice, and he asked what do you prefer should I sell my car and invest the funds in BTC. I said no, you should not risk the money that is in your need. Only invest that is affordable to be lost. Why invest your bread money in it. He then gets uninterested I do not know why. So the point is, even if there are people in the neighborhood involved in BTC it does not mean in that geographical area there will be more people involved.
Some people need a "friend in bitcoin" in order to introduce them to it and to be able to bounce ideas, and surely there are a lot of people who might think that they know bitcoin because they heard the word, yet they might not really understand bitcoin very well until they spend some time studying it, maybe staring with 10 hours and then 100 hours and then 500 hours and then 1,000 hours and then more, and so the more that they spend around bitcoin, then the more they will likely develop better ideas about it. Surely there can be issues of misinformation and disinformation, so it might not always be clear if they are getting good information, and so in that regard, people are responsible for the development of their own critical thinking skills and also making sure that they are investing rather than gambling. even though people are free to do whatever they like, including gambling, even though it is likely better to be an investor than either a trader or a gambler, because investing does not take as many skills and/or luck like gambling and trading, and there are likely ways to make sure that you hedge yourself and allocate reasonably when you are investing rather than gambling.
You seem to be thinking in short-term ways.. so yeah, you are trading.. not investing.. since Why would you need an exit plan if you still don't have enough BTC? You already said that you don't have enough, which means keep stacking and don't stop.
I don't have enough BTC I agree, but I don't want to remain stuck for another cycle, I want to exit the market with the profit I will make, as I know after a bull run, a bearish cycle will start and then I will get the opportunity to buy BTC at low and thus can have more satoshis which mean more profit.
It sounds like you have it all figured out. Good luck with figuring out the top of the market and actually being able to buy back lower than you sold and also good luck with actually building something meaningful, since you probably don't even seem to understand what bitcoin is or the value of focusing on accumulation by buying rather than fucking around with trying to time the market. Sure, you might get lucky, but the odds are not exactly with you when you fuck around by selling the most pristine asset in the world and presume that you will be able to buy back lower and/or that you will be better off by trading rather than accumulating until you reach accumulation and/or over-accumulation status.
But, yeah of course, do what you like. It is completely your choice how you manage your BTC accumulation.
So after another cycle, when the next bull run comes, I will be making a good profit, and then cycle to cycle things can go smoothly.
I would not presume to be able to make profits or to be better off by trading.
If things not change. Am I wrong here, and yeah I do know investing means holding funds for more then 4 to 5 years, and I am holding funds for like 1 year now, which don't make me a investor, but I don't consider myself a trader too, as I don't trade often. Or should I consider myself.
You can consider yourself by the goals that you create for yourself, and question whether you consider that selling is a good way to accumulate more BTC if you are saying that you don't have enough... . and you are free to do whatever you like in terms if you believe that selling is a way to accumulate more BTC.. You might end up being correct in your decision. That is your choice if you believe you know which way the BTC price is going to go and if you are able to sell in such a way that allows you to buy back more at a cheaper price.
By the way there are a lot of previous bitcoiners who have screwed themselves financially and psychologically by selling too many coins too soon and then sometimes ending up with no coins or just frustrating themselves with their trying to figure things out when likely the main thing to figure out is how to continuously stack sats until you have enough or more than enough, then it will become more clear what to do, but it can take 10 years or longer for any investor to get to a point that he has built up his portfolio and it starts to make sense to start to incorporate sales into the mix of how he is managing his BTC holdings and/or any other kind of investments that he has.
There are also alot of examples of guys who have way more bitcoin than other guys, even though there cost per bitcoin is way higher than the other guys, but the main idea is that they may well have 2x or 3x more bitcoin, which in the end, we can see that it is likely way better to be a guy who has more bitcoin rather than fewer bitcoin when it comes to having options to start to sell some of his bitcoin when the prices are going up.
Anyhow, you do what you like, but it sounds to me that you have hardly any clue about what you are attempting to achieve, including understanding the long term potential of bitcoin, including that you might need to consider bitcoin's long term potential so that you might better know why you are accumulating BTC and likely not needing to worry about exit until you have accumulated enough or more than enough, then after that you could consider following some kind of sustainable withdrawing plan and/or staking plan like I talk about in
my sustainable withdrawal thread.
Thanks for the thread, By the way, what's your long-term plan or understand of BTC, I see something unique here, and would love to hear you out, I already stated my plan which is to follow cycle to cycle, but yours seems to be of holding more then 10 years, why? where you see BTC at.
When I say hold bitcoin for 10 years or more, I am not talking about myself. I am talking about guys brand new to bitcoin and they don't seem to know what the fuck they are doing. The think that they are going to trade bitcoin in order to build up their bitcoin, and that is not how you do it. When I came to bitcoin in late 2013, I already had been investing for more than 20 years, so I had already built up a pretty decently-sized traditional investment portfolio, so I was looking for something to add to my investment portfolio that was kind of a hedge against the dollar. so I purposefully thought that bitcoin was going to fit into my already existing investment portfolio. Initially I gave myself a budget to accumulate for 6 months, and then after the first six months I largely extended my same budget for another 6 months. After that first year, I reassessed again, and I concluded that I had gotten close to 10% of my overall investment portfolio into bitcoin, so I thought that was a pretty good place to be, and so I started to consider that I had reached my bitcoin accumulation investment target, and that was at the end of 2014... but then the whole of 2015 the bitcoin prices stayed around the mid $200s for most of the year, and even though I was having some cashflow issues in that year, I continued to modestly accumulate bitcoin through 2015, and towards the middle or end of 2015, I started to consider that I had overly accumulated into bitcoin because I had gotten my holdings up to around 13.5% (when my target was only 10%)...
So I figured out strategies to just try to sell on the way up and to buy when the price dips, but to largely consider that I was ONLY going to sell no more than the extra 3.5% that I had accumulated, so largely I have been selling on the way up since 2015, and I never really ever depleted the extra of my BTC holdings, so I have pretty much considered my holdings to be in a state of overaccumulation since 2015.. and currently my BTC is close to 90% of my overall investment portfolio., and the main reason is due to bitcoin out performing all other assets. You can see my allocations and the timeline in
this post. What if you die tomorrow and your funds go to waste, that's why I thought we should book some profit, exit the market, and enjoy life too. hehe.
You can do what you like. That sounds dumb and short-sighted.
Merely because someone holds value in an asset does not necessarily mean that he is suffering.
At a certain point the investment can pay for your whole life style and even beyond your own standard of living without your having to work... but you have to get there first, and so yeah, you can keep working and having fun and never really building up an investment portfolio. That's your choice.
If you look at
my post about the effects of compounding, you might be able to better understand and appreciate how compounding works, and so recognize and appreciate that bitcoin has largely compounded more than 256 times since the days that it was $250 in 2015.. .. so if you cash out your profits a lot along the way so that you can "enjoy life" then you likely will continue to live within mediocre means rather than being able to really bank upon the power of your investment. At the same time, you do not necessarily need to hold onto all of your investment since 2015 when it was 250 in order to experience the compounding effects, but you have to have some ability to defer gratification and to build until you get to such a point.
So don't presume that I have not been able to spend a lot of money since 2015 merely based on the fact that I still have a large portion of my coins.. because there are ways to just cash out very small amounts of coins, but since they had appreciated so much, cashing them out does not have much of an affect on the size of the BTC holdings..
and again, from my point of view you have to get to a point of sufficient accumulation and/or overaccumulation before your plans to be cashing out parts of your bitcoin holding starts to make sense.. because if you are cashing out before you reached such point, then you are likely never going to get to a point of overaccumulation until you change your mindset and how you treat your investment into bitcoin.
Again.. do what you like. It is your choice. The bitcoin path is filled with a bunch of guys who say that they wished that they would not have sold so many of their coins because they are never going to be able to accumulate back the amount that they sold.
And there are also those of us who have way more coins than we would ever be able to accumulate if we were to have to start over in our accumulation journey.. some of us have a much smaller stack than we started with, but we still have figured out various ways to rake profits and/or to engage in sustainable withdrawal of our BTC holdings on a regular basis... yet again, the key to starting such journey is to accumulate enough coins first and to overaccumulate, and it seems to me that the way to accumulate and overaccumulate is by buying coins. not by selling coins.
But what I understand after reading your words, is you are assuming to become financially free with some amount of BTC, is that possible. I do know people have become financially free with BTC but what's your point or take here. If you don't mind to share.
You can establish whatever might be your entry-level fuck you status. I use $2 million as an example of default entry-level fuck you status in
my chart, and I use that amount because it used to be $1 million prior to March 2020, and now I consider it to be $2 million, but you can figure out the amount that works for you, and you can see that the number of bitcoins that are required to get to that level and then to be able to shoot to accumulate an amount in which your entry-level fuck you status crosses over into the number of coins that you have, and of course, the number of coins that it takes to reach that level has been going down with the passage of time.
Your ability to be financially free could be ONLY with bitcoin or it could be with bitcoin and other assets that you might own.. You have to figure out what works for you.
maybe.. but not because bitcoin will not increase in price but because they could have maximized their profits by waiting and buying bitcoin when the price is going down bitcoin will still increase in price for the next following months and its “peak” would be nothing compared to bitcoin’s price right after halving
it’s their money in the end so if they feel they can do and invest their money no matter how high the price is then good for them
Of course, the best time to invest in the
crypto market is when there is bearish season.
We are not talking about shitcoins here. Fuck crypto, and/or shitcoins.
However, there is no rule that prohibits one from buying even at its ATH, so most likely people will definitely buy using their hard-earned money as long as their mindset is that bitcoin price will certainly rise more in the next months or years. And as you’ve said, their money, their rules. And I’m not against in it, investing in bitcoin even at its ATH simply proves that you have a huge faith for bitcoin that it’s price will continue to grow despite how highly volatile it is. And as long as you are investing for long term, you can still maximize your profits when you only sell when your price goal will be achieved.
Oh? Great. at least to seem to know that we are talking about bitcoin.
