How much Bitcoin to accumulate now to be financially set after the next boom? - page 3.

deisik

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Quote from: shield132 on February 28, 2019, 03:53:19 PM

I try to accumulate as much as I can. I already lost a lot when didn't give a shit when others had hope of price rise. I thought it would be even unimaginable to reach 1K and after that bitcoin wouldn't develop. Now I changed my mind and believe it's gold rule: Bitcoin will reach and surpass it's all time high price. It even doesn't worth for my to sell now, I need at least 6K price but I'll wait 2 year and will sell my bitcoins after upcoming halving, before that I'll try to keep as much as possible

That's how the market plays you (and all of us, for that matter). At first, you don't believe in something - "I thought it would be even unimaginable to reach 1K" (personally, I didn't expect Bitcoin to break out of the 1-2k range once it got there), and very soon the market fools you, even though, technically speaking, you didn't lose anything (you didn't earn profits but it is not the same as losing). You think that you have learned your lesson hard ("now I changed my mind"), and then the market proceeds to fool you (read, "teach" you) again and again until you change your mind once more (as some already did)

Then rinse, repeat

Quote from: BitHodler on March 01, 2019, 06:56:00 PM

Till the price tanks to $2000 (just an example) and you regret not having sold around $3800 when you had the chance but didn't because you considered that price to be very low

The mother of all regrets is not selling at 20k

BitHodler

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Quote from: shield132 on February 28, 2019, 03:53:19 PM

It even doesn't worth for my to sell now, I need at least 6K price but I'll wait 2 year and will sell my bitcoins after upcoming halving, before that I'll try to keep as much as possible.

Till the price tanks to $2000 (just an example) and you regret not having sold around $3800 when you had the chance but didn't because you considered that price to be very low.

My main point is that crypto (even Bitcoin) can always go lower in the short term with how there is nothing that prevents panic sellers from dumping. They don't care about the fundamentals, they just want to exit.

If we look at what happened so far, those who panic sold last year before we tanked below $6000 did very well even though they understandably don't experience it as such due to their loss in fiat value.

The panic sellers people tend to make fun of here did way better than all the hodlers.

LUCKMCFLY

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The accumulation time is uncertain, but there is a way to predict when a good bull run can occur, and that is when you can accumulate approximately 70% - 80% of Bitcoin, which you can verify in the millionaire portfolios, when they accumulate That amount, the price will be ready to reach the stage of bullish trend, which will generate that all the market is bullish.

BitBustah

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Everyone has different spending habits and different standards of living. The amount some of these celebrities spend seem absurd to us but normal to them. Johnny Depp was spending over $50k a month on wine, buying multiple islands and houses, spent $millions to shoot someone's ashes out of a cannon.

egyptian magician

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Nothing is guaranteed, but it is high possibility that in few years time, people will gasp in awe at the wise man who owns one full bitcoin. This year 2019 may be last opportunity for average man to buy full bitcoin with his own resources.

shield132

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I try to accumulate as much as I can. I already lost a lot when didn't give a shit when others had hope of price rise. I thought it would be even unimaginable to reach 1K and after that bitcoin wouldn't develop. Now I changed my mind and believe it's gold rule: Bitcoin will reach and surpass it's all time high price. It even doesn't worth for my to sell now, I need at least 6K price but I'll wait 2 year and will sell my bitcoins after upcoming halving, before that I'll try to keep as much as possible.

susila_bai

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No one can tell how much high the price of bitcoin will go so according to my target if i get 25 bitcoins before my target price will settle my family with strong financially. but cannot say what will be the valuation of fiat currency that time.

South Park

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Quote from: thecodebear on February 07, 2019, 12:04:18 PM

For all you people doing the smart thing now and accumulating Bitcoin on the bottom, two questions:

What's your goal number of bitcoins to accumulate now (or how much will you be satisfied accumulating)?

How much bitcoin do you think it would take for you to set yourself up for life financially assuming you sold late in the next bitcoin boom (at whatever price you think you would sell at and you think will be hit on the next boom)?

There are too many unknowns like how high the price will go, how long it will take to get there, what it is the cost of living in your country or in the country in which you want to live, your age and your live expectancy and what kind of quality of life you want to have, there may be more factors but those are the first to come to my mind and when you take all those factors into consideration the answers of the members of the forum will range from just a few bitcoins to hundreds of them.

gabmen

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Quote from: LUCKMCFLY on February 27, 2019, 12:47:01 PM

Quote from: oegarod on February 27, 2019, 03:47:46 AM

Quote from: Bagaji on February 15, 2019, 12:29:36 AM

Good question dude, if the value of Bitcoin increase to maybe $60k and above, I will like to have 156 unit of Bitcoin which the total worth will be $9,360,000 and if the unit market value of Bitcoin increase more than $60k then higher my Worth. Though what I have at the moment is still less than one Bitcoin but anything can happen in gambling.

This is completely on users self estimate, because different people have different financial elements to be fulfilled to get termed rich. In this way some might be satisfied with $100000 in btc, some needs more. For me, $300000 in bitcoin and any other coin with good trading volume is a must.

Taking into account the phase we are in, in a few years we will say that bitcoin was being given away at $ 4k, but my thinking is completely focused on speculation, so I would leave the money in USD and when Bitcoin enters the uptrend, I will take all the capital that I have in USD and change it to Bitcoin. This is how I would accumulate.

Well that could work. If you have a lot of money to put in as an investment then any amount would do. I personally would be content in having just 5 bitcoins when the market booms. Though the market booming could have different end points. I doubt that we'll get to 20k in the next boom.

davis196

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Quote from: thecodebear on February 07, 2019, 12:04:18 PM

For all you people doing the smart thing now and accumulating Bitcoin on the bottom, two questions:

What's your goal number of bitcoins to accumulate now (or how much will you be satisfied accumulating)?

How much bitcoin do you think it would take for you to set yourself up for life financially assuming you sold late in the next bitcoin boom (at whatever price you think you would sell at and you think will be hit on the next boom)?

It would be great if I accumulate 2.5 btc by the end of the year only from my acitivities on this forum.
I don't have high expectations about bitcoin during 2019.I'll most likely HODL untill 2020.
Your question is kinda stupid.The more btc we accumulate,the better. Grin

LUCKMCFLY

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Quote from: oegarod on February 27, 2019, 03:47:46 AM

Quote from: Bagaji on February 15, 2019, 12:29:36 AM

Good question dude, if the value of Bitcoin increase to maybe $60k and above, I will like to have 156 unit of Bitcoin which the total worth will be $9,360,000 and if the unit market value of Bitcoin increase more than $60k then higher my Worth. Though what I have at the moment is still less than one Bitcoin but anything can happen in gambling.

This is completely on users self estimate, because different people have different financial elements to be fulfilled to get termed rich. In this way some might be satisfied with $100000 in btc, some needs more. For me, $300000 in bitcoin and any other coin with good trading volume is a must.

Taking into account the phase we are in, in a few years we will say that bitcoin was being given away at $ 4k, but my thinking is completely focused on speculation, so I would leave the money in USD and when Bitcoin enters the uptrend, I will take all the capital that I have in USD and change it to Bitcoin. This is how I would accumulate.

oegarod

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Quote from: Bagaji on February 15, 2019, 12:29:36 AM

Good question dude, if the value of Bitcoin increase to maybe $60k and above, I will like to have 156 unit of Bitcoin which the total worth will be $9,360,000 and if the unit market value of Bitcoin increase more than $60k then higher my Worth. Though what I have at the moment is still less than one Bitcoin but anything can happen in gambling.

This is completely on users self estimate, because different people have different financial elements to be fulfilled to get termed rich. In this way some might be satisfied with $100000 in btc, some needs more. For me, $300000 in bitcoin and any other coin with good trading volume is a must.

Bagaji

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Good question dude, if the value of Bitcoin increase to maybe $60k and above, I will like to have 156 unit of Bitcoin which the total worth will be $9,360,000 and if the unit market value of Bitcoin increase more than $60k then higher my Worth. Though what I have at the moment is still less than one Bitcoin but anything can happen in gambling.

thecodebear

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Quote from: guoyu78 on February 14, 2019, 12:48:18 PM

Quote from: thecodebear on February 07, 2019, 12:04:18 PM

For all you people doing the smart thing now and accumulating Bitcoin on the bottom, two questions:

What's your goal number of bitcoins to accumulate now (or how much will you be satisfied accumulating)?

How much bitcoin do you think it would take for you to set yourself up for life financially assuming you sold late in the next bitcoin boom (at whatever price you think you would sell at and you think will be hit on the next boom)?

I think it depends on both how much it will "boom" and what are your needs. For example my and my wives needs are totally different, I would like to be capable of paying our bills and having a decent boring and not so exciting life economically, whereas she wants to go to vacations that are 5 times more expensive than minimum salary (as in 5 months of salary for a minimum salary person) and of course just so happens how much you would need would be different between that type of two person.

If you want to be financially set but just like me and want to only cover regular living expenses, I guess depending on which country you are in it wouldn't cost that much. However, if you are like my wife and want to spend a lot of money while living a big life than you would need a lot of money.

You just reminded me to never get married haha

guoyu78

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Quote from: thecodebear on February 07, 2019, 12:04:18 PM

For all you people doing the smart thing now and accumulating Bitcoin on the bottom, two questions:

What's your goal number of bitcoins to accumulate now (or how much will you be satisfied accumulating)?

How much bitcoin do you think it would take for you to set yourself up for life financially assuming you sold late in the next bitcoin boom (at whatever price you think you would sell at and you think will be hit on the next boom)?

I think it depends on both how much it will "boom" and what are your needs. For example my and my wives needs are totally different, I would like to be capable of paying our bills and having a decent boring and not so exciting life economically, whereas she wants to go to vacations that are 5 times more expensive than minimum salary (as in 5 months of salary for a minimum salary person) and of course just so happens how much you would need would be different between that type of two person.

If you want to be financially set but just like me and want to only cover regular living expenses, I guess depending on which country you are in it wouldn't cost that much. However, if you are like my wife and want to spend a lot of money while living a big life than you would need a lot of money.

deisik

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Quote from: thecodebear on February 14, 2019, 11:49:56 AM

Quote from: Harlot on February 14, 2019, 11:41:40 AM

My stomach for risk is really nothing compared to what other people are doing right. I have seen news regarding people selling their cars and houses and sacrifice their life living in a trailer just to buy Bitcoin but for me that is too much of a risk I am willing to take right now. So instead of putting new money in the market I always find the opportunity to short BTC (BTC to FIAT then back to BTC again) to accumulate more at its lower price. I made a few successful attempts but you will only get new BTC in accordance to how much you are holding right now.

Haha I find it funny you said you don't have the stomach for risk but you are shorting bitcoin! That is wayyy too risky for me. Shorting bitcoin near the top of a bubble makes sense if you're happy with how much you've made on the bull run up until then, but shorting at the bottom of the market! Yikes! I'd be way too scared to do that. I'd rather just accumulate, zero risk in that

He may not fully understand the risks involved

Actually, he may think that he does in fact understand them like the downside is limited and you can't make more profits than that, while the upside is virtually unlimited and the potential losses are constrained only by the size of your balance. But it is one thing to know that and quite a different thing to have felt it with your skin in the game (and your soul at stake, so to speak)

TIDOVEE

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As for me, I don't mind accumulating as many bitcoin as possible. And as long as this coming bull run is experienced, Even though I will not stop bitcoin but I hope to have made good use of the opportunity atleast to be comfortable to a reasonable extent.

thecodebear

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Quote from: Harlot on February 14, 2019, 11:41:40 AM

My stomach for risk is really nothing compared to what other people are doing right. I have seen news regarding people selling their cars and houses and sacrifice their life living in a trailer just to buy Bitcoin but for me that is too much of a risk I am willing to take right now. So instead of putting new money in the market I always find the opportunity to short BTC (BTC to FIAT then back to BTC again) to accumulate more at its lower price. I made a few successful attempts but you will only get new BTC in accordance to how much you are holding right now.

Haha I find it funny you said you don't have the stomach for risk but you are shorting bitcoin! That is wayyy too risky for me. Shorting bitcoin near the top of a bubble makes sense if you're happy with how much you've made on the bull run up until then, but shorting at the bottom of the market! Yikes! I'd be way too scared to do that. I'd rather just accumulate, zero risk in that.

Harlot

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My stomach for risk is really nothing compared to what other people are doing right. I have seen news regarding people selling their cars and houses and sacrifice their life living in a trailer just to buy Bitcoin but for me that is too much of a risk I am willing to take right now. So instead of putting new money in the market I always find the opportunity to short BTC (BTC to FIAT then back to BTC again) to accumulate more at its lower price. I made a few successful attempts but you will only get new BTC in accordance to how much you are holding right now.

1Referee

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Quote from: deisik on February 13, 2019, 10:03:35 AM

How can it possibly be an ultimate goal?

Okay, you can of course make it your personal credo to get as many bitcoins as possible and that would essentially be your goal. But I don't think that even Warren Buffett sets similar goals for himself even if he is said to be money married, i.e. making money for the sole purpose of making even more money. In fact, it may be a good strategy as it allows you to focus on one thing, but not in the way of making it your life purpose, of course

I should have added a bit more information, my bad.

It's my ultimate goal to accumulate as many coins as possible because I strongly believe that there will be wide level adoption in the forthcoming decades, and what's better than using the lack of adoption right now to increase my holdings wherever and whenever I can. I don't have much to lose anyway. I will not sell for $$, but spend, because that's the purpose of money.

Lightning adoption picking up makes me even more bullish. The network is in its infancy still, but you can already instantly settle transactions with thousands of merchants if you connect to a 'popular node'. This is what money should look like. Stability would help too, but it's way too early for that. Cheesy

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