Topic: How much Bitcoin to accumulate now to be financially set after the next boom? - page 4. (Read 19765 times)

Investment are mostly for those who have financial freedom as their money makes money for them and investing your own money to a potential thing is a very good decision.

Only if I have a good amount of money that can be invested in Bitcoin then I would go for my 20% total savings because I believe that it will bounce back in the next years just like what was happened in the past years. Behold the 'history repeat itself'

Bitcoin is money. It's purpose is to be money. By accumulating more of it I have more money. I use money to buy everything I buy in life. That is the positive effect on me.

When you are trading bitcoin you are trying to accumulate through trading. It's the same thing.
Having traded and lost bitcoin plenty of times in the past I know that I'm not good at trading bitcoin against altcoins. Too risky. So I don't bother with that anymore - if I had never traded any Bitcoin and just held it I'd have like 46 bitcoin now, instead I have a lot less. Anyway, trading or buying, its all the same thing, trying to get more bitcoin.

You are welcome, bro!


I mean it should give you a certain impetus for action

If you are a trader, you are using Bitcoin (or whatever cryptocurrency you chose to go with) to bring you profits (well, let's assume that). But that's not about profits only or maybe not even about profits at all. Basically, Bitcoin should give you some purpose in life, and then it can be said that it works for you, i.e. it performs a certain purposeful function in your life. Obviously, that should have positive effect on you (i.e. not like living for the bottle) as otherwise why would you be using it?

My goal is 27 BTC.

And to sell it probably on average just under $100k in the next 3-4 years (I think the next bitcoin boom will go over $100k).

This would easily set me up for life. Then of course I'd buy back in at least a couple bitcoin after the following crash so that I've still got a couple for much longer investment.

Probably I may need 200 bitcoins and I just working with 1% of it . Human's greed has no limit and everybody is having different lifestyle and ambitions in their lives hence you cannot have any general opinion out of hearing about these from different people here.

I mean you must decide on yourself like how much money you will be needing for settle down in your life and then guess what will be the price of bitcoin around next boom. I believe these two figures are enough to find your final answer.

The bolded made me laugh!

I have no idea what you mean by making your bitcoin work for you. Bitcoin's aren't real estate you can get renters on (unless you're talking about loaning bitcoin on some platform) and they aren't derivative producing stocks. So I don't know what you mean by making them work for you.

Bitcoin is a speculative asset, like gold, or like real estate you buy as an investment but don't rent out, or like non-dividend paying stocks - You make money when the price goes up.
You make money by accumulating as much as possible when its low, and selling or spending when its high. That's why accumulating is the ultimate goal, but that is the only goal that makes sense. It is the goal that leads to making the most money, and bitcoin is money.

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

Regarding your question, it is up to you to decide whether you are considering it a worthy purpose. If that is your goal, I'm okay with it, but personally, I'm more interested in using crypto as a tool for exploring other areas of life, so speculation, ultimately, is purely utilitarian for me, even though I definitely like the thrill of it. Other than that, I agree that there is not much in the way an average Joe can "utilize" their coins

For me it is the ultimate goal.

I don't see much point in making my Bitcoins work for me (mainly comes down to the risks associated with short term trading/lending/etc), and how exactly? I sold back in December 2017 and still have some funds left of the sales ready to buy back. Is that making my coins work for me in your book? If not, then what is?

It's not exactly easy to put your coins to work for the average person if you take into consideration that they don't know how to trade, and loans usually aren't that fruitful either with how much competition there is, and you expose yourself to counterparty risk.

Lightning is a purposeful utilization of your coins, but the average user here is more likely to lose them messing up than getting anything out of it at this stage.

What I earn will should be what it is before the next boom of bitcoin. So don't have a specific amount of my bitcoin before the next boom cause for sure I will never accumulate if I make plan to earn or to buy. I will just rely on what I will earn until next boom.

haha absolutely. Well I mean at least I wasn't buying anywhere near the top. In 2017 I started buying at $1300 and made my last buy just over $7000. But yeah I did hold through the top, also lost a bunch of money trading during the crash thinking it wouldn't last that long (and gained and cashed out some money too though!), and sold a little bitcoin in the summer at like $8600 to pay off some loans.

I think it often takes a full Bitcoin cycle for people to understand the market. I had never heard of Bitcoin until it was $800 in November 2013, a coworker told me about it. I started buying, and like two weeks later it started going down. Then a year and a half later it was still at 20% the peak price, so yeah I just figured Bitcoin was done, I didn't know any better.

Everyone I know now who bought in 2017 for the first time are the exact same way - they mostly sold on the crash (granted having made some money) and think its insane that I'm buying now. Luckily for me my history with Bitcoin goes back over 5 years now so I know better now. I keep trying to tell people if they bought in 2017 why the hell wouldn't they buy now at the bottom?! But it takes a full market cycle of paying attention until most people (me included) understand that Bitcoin isn't just gonna disappear simply because this is the first crash you've experienced. I told a current coworker yesterday I've been buying a bunch of bitcoin and his response was "why? why would you buy, its going down!" Funny how psychology tells us to buy high and sell low. Greed and fear run the undisciplined investor!

It is definitely not about accumulating

Well, for some it may in fact be the ultimate goal, though personally, I think of it as a process (read, the more the better). But it is not really about accumulation at all, it is more about making your bitcoins (or whatever coins you might have) work for you in a profitable and constructive, purposeful way. Keeping bitcoins under the bushel is not my thing and probably not the choice of many other people as well

Regarding your second question, you are essentially asking how much money people need to be happy. I guess you can't buy happiness with money but it is certainly better to cry in a mercedes than on a bus. So the lower limit is a mercedes (though lambo would do better)

lol, you basically played out the entire psychology of an asset bubble---selling into "despair" at the bottom and holding through "new paradigm!" at the top. don't feel bad, it happens to most people. i've definitely never sold the top or bought the bottom of these long term cycles. and while i wasn't selling the $200s, i didn't buy back for good until long afterwards, after the pump to $500.

Even 1btc is enough once biitcoin will reach again in worth $20,000 or more than that, regrading those people who belong in third world country. Because we all kknow how poor they're and how hard to earned money inorder to survive.

haha yeah i was selling at massive losses in the $200s in 2015 thinking bitcoin wasn't gonna go anywhere. Then I refused to sell at $19k thinking that the 2017 rally was the turning point and that bitcoin was finally moving up the S-curve to mainstream adoption. I did expect a crash in late December 2017 but thought it'd only last a couple months and would be like the June and September crashes. Now having been a part of two major crashes I understand this pattern will just continue and there will be peaks and troughs to sell and buy every few years.


and yes to the not waiting too long to stock up. I'm pretty sure this bottom is gonna last until the second half of 2019, but I've been stocking up since November anyway. No reason to wait and possibly miss out on the best prices we'll ever get from here on out. I'm already nearly at my goal number of bitcoins to get before the bull run starts, so if the bottom lasts for another half year I might actually have time to pick up an extra bitcoin. Anyone who has money sitting on the side and isn't accumulating, well, I don't know what the hell they are waiting for! Unless they'd rather buy higher when the prices are going up.

Very true. Though on the day Bitcoin peaked in mid-December 2017 my friend told me I better sell my Bitcoin. haha oh if only I had listened and sold that day haha.

But yeah its pure guesswork where a bubble will pop. There were people in spring of 2017 saying 3000 was the top. I specifically remember reading the morning it hit $2800 some financial analyst said it'd crash back into the 1000s when it hits 2800 and stay there until January 2018 before it starts recovering (this was around the end of May 2017). At the time I thought it might hit $6000 by the end of 2017, then by November $10k became the big goal, then all of a sudden a couple weeks after $10k it nearly hit $20k!

Best way to buy is to accumulate at the bottom (like everyone should be doing now).
Best way to sell is....get lucky haha, hope you sell near the top of the bubble, but whatever you sell at pick a price you'll be happy with, and if it goes way higher then just make sure you're buying in on the next bottom to make up for it!

With the current price 5 bitcoin will be nothing to buy when they are from developed country,it might be worth couple of month'salary so it will be really worth to spend their money on bitcoin to ensure their future as extra investment.But the amount should be completed risked to lose in very long term investment.

I think he asked about the price predictions of bitcoin at the next price increase that had become very reasonable, he wanted to try to find out all the predictions given by the members here even though the predictions cannot be confirmed but at least know the price movements happens to the price of bitcoin.

Nothing to forgive, it isn't a lot $3500 over 3 years but currently
I cannot save anything currently any spare funds €20 to €40 per
week is going into BTC [not all weeks though]

The trouble is indeed my income but unfortunately since the 2008
crash a lot of salaries have still failed to increase here in eurozone.

Mortgage is my biggest outlay and that was got in 2007 on a salary
approximately 30% greater than todays salary !!

Im ok with it though, Im not looking for "when Lambo Time"

In the country where I lived in, and if the next bull run the price of bitcoin reaches around <$30k per pop, I would say that 5 bitcoin will be a good amount to accumulate between today and the next bull run and I could say that I will be financially stable in the next couple of years.

But if you're staying in a first world country, I doubt that 5 bitcoin will be enough for you to survived in the next years or so. Probably you need 50 bitcoin or more, imho.

forgive me ,but if you cannot afford to put aside 3500$ in three years
you should consider finding a better job
currently, I think that bitcoin is a much better investment than simply banking your fiat and earning interest
yes, it is riskier , but the return could be simply life changing
I can't read the markets either, probably none can , otherwise they would be rich af
but I know that bitcoin is undervalued and is going to increase in price if not in 2020 then in the next 5-10 years for sure