I know that a lot of people get tempted to trade and they also get tempted to try to accelerate their returns based on volatility, including that many of us likely realize that volatility in bitcoin is inevitable, but we still cannot really have any level of confidence in short term volatility, even though we likely can have a decent amount of confidence that if we continue to accumulate bitcoin and not get too risky with our approach and do not fuck around with trying to gamble with our bitcoin, then likely we can continue to build our bitcoin holdings over time, and maybe it could still take 15 to 30 years before we really get to a financially comfortable position (and that is not even guaranteed), and our odds of getting to such financially comfortable position is better if we continue to build our stacks of satoshis.. and then maybe at some point into the future, we will be able to recognize that we have a decent amount of financial cushion and we have largely reached the goals that we have set for ourselves, whether we want to reach a kind of fuck you status or if we merely want to just be better off than we would have had been if we had not invested into bitcoin.
Accordingly, if you measure getting to fuck you status by the amount of annual income that you have built up, then you may well need to get between 20 to 30x the size of how much that you need per year in order to be able to feel comfortable in terms of living off of that amount, and frequently people will get greedy before reaching those levels or maybe not be able to manage their wealth once they have reached a full years of income within their investment portfolio.. so it can take a lot of discipline to continue to pursue and persist and to not lose your principle when you have reached 1x your annual income and in the process of trying to get to a decently high level such as 20x to 30x.. and yeah, I understand that a lot of people do not make it, and yeah, I understand that some people believe that they do not need 20x to 30x, so those kinds of opinions can vary in terms of how much is needed and how to valuate the value of your assets (which ones that you hold - hopefully including but not necessarily limited to bitcoin... and I am not referring to any need to hold shitcoins, even though some folks might choose to hold some shitcoins).
As they say: a trek of a thousand miles fires up with a lone Satoshi. Or something along those lines, huh? But on the real, sinking dough into Bitcoin is a crazy-long, twisty journey, loaded with peaks and valleys and curveballs. Navigating the wild crypto market demands patience, grit, and a solid chunk of skepticism. So what's the master key? Stacking satoshis to the heavens, or is there a deeper strat?
Well, of course how many sats to stack, and whether to get "at the heavens" or some other lower amount might be sufficient remains the million dollar question, in regards to figuring out your own specific balance level that is mostly tailored upon your own situation rather than on the situation (or beliefs) of others... and no problem attempting to gather information from others or however, some of us might absorb information in differing kinds of ways, yet we still likely need to be careful that we are not getting lead down the wrong path in terms of our own short-comings or just not always being able to figure out what an appropriate BTC allocation might be for our situation while also attempting to understand various aspects of our own specifics including but not necessarily limited to: cashflow, how much bitcoin you have already accumulated, your other investments, your view of bitcoin as compared with other investments, timeline, risk tolerance, and your time, skills, goals (investment/lifestyle targets) and your abilities to strategize, plan, research and learn along the way including tweaking strategies from time to time to consider trading, reallocating, use of leverage and/or financial instruments.
The first considerations on the above list are more basic, and the later considerations on the list are more advanced, so of course, on a personal level, each of us should be attempting to strive to get the basics in order before getting into the more advanced strategies and techniques.
For this guy, it's straightforward: balance, baby. Harmonize your financial freedom lust with risk appetite, and level out long-term aspirations with short-term demands.
I don't disagree - even though balance and ongoing balance can be a bit of a moving target, even if you may well be in a place in your life in which a lot of your particulars are mostly stable, including perhaps having have had reached a kind of zen state of bitcoin stash size and ability to maintain it.
Translation: self-control, tunnel vision, and avoiding the temptation of sparkly altcoins or instant wealth pipe dreams. Stand firm, even when the market's doing the cha-cha or your crew says "ditch it." Most crucially, paint a vivid mental pic of your end goal and buckle down to make it real. Whether you crave "FUCK YOU" money or a cushy retirement nest egg, stay on track, honor your truth, and keep your investment game strong.
Can't disagree with any of that... which kind of reminds me of the ideas of "keeping your eyes on the prize, and don't get too distracted," which seems to be using different words to say similar things.
I mean, you have said it yourself, the public does not buy into Bitcoin even if it has good price history because it was involved in many scams. These past few months alone, many rug-pulls and scam coins have been exposed and brought into the mainstream and many people associate cryptocurrency with Bitcoin, they would have assumed that Bitcoin may also be another crypto scam.
Bitcoin really needs a mass-friendly PR strategy launch to distinguish itself from fraudsters. Spread awareness and information that can be easily understood even by the most computer-illiterate, maybe even publish real experiences of people who gained something out of Bitcoin. But that would be really difficult since Bitcoin is not really a company so it must really to its users to uphold its image.
Even if the intention is something good but on the other hand I would not really believe that it is useful because in my opinion with conditions like this convincing that we are different is tantamount to a defense as well as in this case by claiming that bitcoin is very much different even if it is true it will make it seem as if this is an excuse especially saying to people who are skeptical of bitcoin.
Skepticism like this will continue to exist and indeed will continue to exist but I think it doesn't matter for that, I personally feel that there is no need to convince skeptics that what we choose is right because indeed they have their own perspective and we have our own perspective. I'd rather continue to convince myself that this is a very worthy thing rather than telling others especially the skeptics. The risk is obviously there when we say this is a feasible thing such as when there are people who are interested it will focus on us because we are like inviting them, on the other hand for skeptics will always make this a defense reason even though what we say is true.
Exactly. Each of us has to have the conviction to NOT be lured out of our bitcoin... and there is ONLY so much that any of us can do in order to persuade skeptics to start to allocate to bitcoin, even if they might start out small and build up over the years after becoming more and more familiar with bitcoin.. so yeah.. it can take a long time to build up a position, and even in the process of one or two bitcoin cycles, even bitcoin HODLers can get shaken from their position to sell too much BTC too soon or to fail/refuse to sufficiently and adequately stack up BTC in order to sufficiently/adequately prepare themselves for possible upwards BTC price moves that are likely to come, but that are not guaranteed to come.
Being provoked by conditions like this will actually make us lose and believe it or not I think when we are too impulsive in dealing with things like this it will not be beneficial either now or later.
ourselves because there is no middle point if both parties feel all the most right, this will only make the debate and skepticism even bigger.
Interactions with others in regards to the bitcoin topic could play out in a whole hell of a lot of ways that invoke aspects of our own conviction and/or could invoke various aspects of their skepticisms, and so in some sense, each of us can choose the extent to which we are ready, wiling and/or able to engage with others in ways that we might think could be helpful - but in the end, we cannot really control the reactions of others, and if they continuously not want to receive the information or maybe even wanting to do the opposite of what we might suggest to them. There's only so much that we can do in terms of attempting to guide others, and if they are combative or even wanting to blame us (fail to take responsibility for their own investment decisions), then there may be some needs to attempt to distance ourselves from getting too involved in those kinds of difficult relationships, even though surely there may well be people in our lives who we find to be more difficult than others, and sometimes we still might want to attempt to help them -even if we might not be really sure about how to actually help because we cannot always identify whether some people might not be helpable.. or ready for help or whatever.
Hopefully in our own situations, we are not creating conditions in which we become emotional or overly emotional about our investment(s), and at the same time, there may be people in our lives who we know are easily lead into situations in which they become overly emotional or they tend to gamble rather than invest, and these can sometimes be difficult situations to navigate. I would not proclaim to know how to deal with a variety of situations, and sometimes each of us will make differing choices in terms of how much we might need to be careful in terms of our own self-preservation in those kinds of circumstances.
The important point is again that there is no real guarantee in this case because this is clearly still a risk that makes us not need to be too involved and expect a big change for skeptics because seeing from conditions like what happened before, even if we convince them with data and facts that do exist, they will still have other excuses because the premise is already like that so in something like this, why continue to convince because this will ultimately make us become troubled by ourselves because there is no middle point if both parties feel all the most right, this will only make the debate and skepticism even bigger.
Sometimes it can be difficult to resolve incompatibilities or differing views of the world, and surely sometimes we might be able to take a break from a topic and then come back at the topic later - but surely there are some instances in which years and years and years will pass, which might cause the decision to become more difficult to make, and sometimes some of us might get paralyzed and even bitter or resentful about past mistakes (or even successes) that we might have made(had) in our lives.
Many of us already know that there are a lot of benefits in attempting to stay humble in terms of our bitcoin investment(s) and also in our dealing with others, yet at the same time, staying humble might be easier to say than it is to do, and sometimes when we interact with others we might allow (or cause) our own ego to get in the way, but then also there can be situations in which the other person is having problems dealing with their own ego.. and again, not always easy to necessarily know how much to get involved or whether to get involved with that person or to distance oneself when there are these kinds of tensions.
