Topic: Bitcoin for the elderly homeless. - page 2. (Read 355 times)

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
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.

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.

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!

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.

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.


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.

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!

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.

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.