" Life Altering " ......? - page 2. | Bitcointalksearch.org

Hyena

legendary

Activity: 2114

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Quote from: simplydt on November 30, 2013, 02:32:17 PM

For example, the way I made my decision for life altering is talked about in my blog post.
http://unratedtogm.blogspot.com/2013/11/how-i-made-30000-this-month-by-not.html

So, techie, how did you get hacked?

Hyena

legendary

Activity: 2114

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I think the important thing here is to reinvest a significant portion of the bitcoin profit to other stores of value. If you won the money with a lottery it would be stupid to just spend it.

simplydt

full member

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Merit: 100

For example, the way I made my decision for life altering is talked about in my blog post.
http://unratedtogm.blogspot.com/2013/11/how-i-made-30000-this-month-by-not.html

Now, I never went long on bitcoin so its slighty different. The similarity is I had the choice to hold a position and wait for it to double again (ive doubled at least 3 times in the last week), or cash out. I chose to cash out even though it will hardly leave me any extra cash, just because getting rid of any debt is so fucking awesome.

So my point is, give priority to #1... maybe go a bit above 1, so you have some coins left over that you keep going long on in case they go up in value even more. (eg cash out 75-90% and retain a 10% position).

Good luck.

kingcrimson

legendary

Activity: 1025

Merit: 1000

Ten million USD

$1 million on house, luxuries, cash, etc
$6 million in mutual funds/bonds
$3 million in rental properties

Use the rental properties as your income. Dont touch the mutual funds till youre 65, let them compound... then you retire with a hundred mill. Realistically one can do a toned down version with 2-3 mill though. And of course just holding bitcoin you may make more than any of these investments.

snackman

sr. member

Activity: 260

Merit: 250

snack of all trades

Quote from: exahash on November 30, 2013, 01:40:19 PM

I find myself reading this thread wishing for a poll next to each post with options along the lines of:

- This guy will be broke in 5 years
- This guy will still have some btc in 5 years

Think this will make me go broke? /endshamelessselfpromotion

exahash

sr. member

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I find myself reading this thread wishing for a poll next to each post with options along the lines of:

- This guy will be broke in 5 years
- This guy will still have some btc in 5 years

chrsjrcj

full member

Activity: 280

Merit: 102

You also have to account for future inflation. Who is to say $100,000 today, will be $100,000 20 years from now? Best to keep your wealth in bitcoin.

traderCJ

sr. member

Activity: 280

Merit: 250

Quote from: GigaCoin on November 30, 2013, 06:21:19 AM

Quote from: byronbb on November 29, 2013, 02:39:28 PM

Quote from: bitleif on November 29, 2013, 01:00:03 PM

Quote from: siggy on November 29, 2013, 11:04:56 AM

3) 15 million USD in BTC ... Mansion, Yacht, Strippers, Blow ... umm..yeah... that would qualify as life altering.

umm... "very wealthy"

I call that an immature attitude towards wealth and exactly the kind of mindset that will lose you all your money very quickly. Just look at various rappers and athletes. 15 mill isn't that much really if you're planning on living on it for the rest of your life (depending on how old you are.)

This is ridiculous to me, but that's me. Idiot's who blow 15m whatever, I could easily retire on 1m in the west and far less in Thailand or India.

$1M to retire ? maybe if you're 60 , but if you're a young dreamer and ambicious $1Million isn't enough these days, some countries that will barely get you a home, good car, and few savings for your kids' future & investments/business. Not sure about INdia and thailand but i hear housing isn't cheap there either and not everyone would want to do that.

If you're the kind of person who has to appear to be the richest man in the room, you're right. However, if you just want to be self employed doing something you love and not starve, $1mil is plenty. Hell, it's excessive if you own lodging and transportation debt free.

GigaCoin

sr. member

Activity: 308

Merit: 251

Giga

Quote from: Thylacine on November 30, 2013, 06:35:43 AM

$1M buys a solid apartment in inner city Melbourne Huh

but no change

Exactly, then what? If you're Australian you should make sure you have a decent amount of Coins if you want the Bitcoin dream, it's just too expensive to live.

Thylacine

member

Activity: 115

Merit: 10

$1M buys a solid apartment in inner city Melbourne Huh

but no change

GigaCoin

sr. member

Activity: 308

Merit: 251

Giga

Quote from: byronbb on November 29, 2013, 02:39:28 PM

Quote from: bitleif on November 29, 2013, 01:00:03 PM

Quote from: siggy on November 29, 2013, 11:04:56 AM

3) 15 million USD in BTC ... Mansion, Yacht, Strippers, Blow ... umm..yeah... that would qualify as life altering.

umm... "very wealthy"

I call that an immature attitude towards wealth and exactly the kind of mindset that will lose you all your money very quickly. Just look at various rappers and athletes. 15 mill isn't that much really if you're planning on living on it for the rest of your life (depending on how old you are.)

This is ridiculous to me, but that's me. Idiot's who blow 15m whatever, I could easily retire on 1m in the west and far less in Thailand or India.

$1M to retire ? maybe if you're 60 , but if you're a young dreamer and ambicious $1Million isn't enough these days, some countries that will barely get you a home, good car, and few savings for your kids' future & investments/business. Not sure about INdia and thailand but i hear housing isn't cheap there either and not everyone would want to do that.

chrsjrcj

full member

Activity: 280

Merit: 102

Quote from: EuroTrash on November 29, 2013, 11:06:28 AM

aaand... this kind of posts makes me want to sell everything and wait for the crash in order to scoop more coins.

You should see some of the posts on the litecoin reddit board.

Hyena

legendary

Activity: 2114

Merit: 1015

I haven't cashed out anything but the mere fact that I have some nice wealth stored somewhere makes me spend my ordinary money a bit more loosely. Also, this looming wealth has somehow altered my aura in a way that I've been attracting more women lately.

Maybe the confidence has increased or something but I can tell you that the vibe is different these days. The difficult part is determining how much money you can spend per lady in order to remain within the borders of rationality (the most efficient risk/reward ratio). Luckily this amount can be calculated from a typical price of a hooker making the intrinsic value of a female being equal to the cost of paid sex. I wonder if Thai chicks accept bitcoins already.

Pic somehow related.

Le Happy Merchant

hero member

Activity: 634

Merit: 500

Quote from: piramida on November 29, 2013, 11:25:16 AM

The reason why no one would really reach any "life altering" levels? most people are scared when amount of money they have in bitcoin reaches a level they feel uncomfortable keeping. So, if you ever saw say 10k in usd, you will not hold 100k in bitcoins - you'd be long out of it by that time.

I was uncomfortable when I first got in. I literally spent every penny I had in savings on BTC. I haven't been comfortable in nearly two years, and I don't plan on being comfortable for quite some time.

When I do get comfortable though, its going to be under a pile of women.

Thylacine

member

Activity: 115

Merit: 10

Surely answer is more complicated than it seems, as a few have alluded to. If 1 BTC = something ridiculous like $1M USD, isn't is very possible the USD has devalued and that you're better off paying for your groceries with satoshis rather than USD? A loaf of bread might be USD$100 at this point.

The only reason BTC gains value as a currency is if it's adopted widely.

I think a better question to ask is; "Assume in years to come bitcoin is the de-facto world currency. How much does a Big Mac cost in bitcoin? What's considered a life-altering amount of bitcoin in 2030?"

snackman

sr. member

Activity: 260

Merit: 250

snack of all trades

Quote from: wobber on November 29, 2013, 05:09:35 PM

Quote from: bitleif on November 29, 2013, 04:58:39 PM

Running your own business isn't for everybody. But it certainly is for me Wink

What business do you have? If I may ask.

Ideal business is one that you take from 0. Like having a small rented apartment, learn, make money, learn more, move to regular office, hire etc. I do not trust business started with large capitals and lot's of employees. I mean, it's like a baby. You coinceve it, but it cannot be 10. Has to grow organically.

Like having a small rented apartment that you list on airbnb Wink

Speaking of which, when are they going to start accepting bitcoin?

wobber

legendary

Activity: 1064

Merit: 1001

Quote from: bitleif on November 29, 2013, 04:58:39 PM

Running your own business isn't for everybody. But it certainly is for me Wink

What business do you have? If I may ask.

Ideal business is one that you take from 0. Like having a small rented apartment, learn, make money, learn more, move to regular office, hire etc. I do not trust business started with large capitals and lot's of employees. I mean, it's like a baby. You coinceve it, but it cannot be 10. Has to grow organically.

Hawker

legendary

Activity: 1218

Merit: 1001

Quote from: piramida on November 29, 2013, 04:42:46 PM

Quote from: wobber on November 29, 2013, 04:36:08 PM

I think a man should work at 8hrs a day for somebody else or more than 8hr a day for himself. Retiring on a beach is not a good thing to do. It can have serious consequences on one's mind and body. Saw some cases with people with lots of money who lost it...

Scratch the "work for somebody else" part and I'll agree - this modern day slavery is not necessary at all. Definitely, once your brain stops working you are degrading much faster than you evolved. So you should always keep it busy, run some business, do some work you actually like, play chess, etc, the more activities the better. Finding a right cause to support for the rest of your life with your money and energy is an ideal solution, if you find something to believe in, deeply.

For me the "enough" question can only be answered by having an income from property or shares that means you never need to work again. Work should only be for what interests you.

snackman

sr. member

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snack of all trades

Quote from: bitleif on November 29, 2013, 04:58:39 PM

Running your own business isn't for everybody. But it certainly is for me Wink

Haha I'm having a blast so far! Launched Pirate Printing Company in earnest last night, already got 9 bitcoin orders!!

bitleif

sr. member

Activity: 351

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I'm always grumpy in the morning.

Running your own business isn't for everybody. But it certainly is for me Wink

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