If Bitcoin becomes $1000000000000000000000000 I will cash out and own the planet
Topic: " Life Altering " ......? - page 4. (Read 4723 times)
If Bitcoin becomes $1000000000000000000000000 I will cash out and own the planet
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.
It takes one to really believe in bitcoin project to store more than 90% of your total wealth in coins and sleep well. And the true believers might be rewarded, but that would be a side effect. If you are just greedy, you are cashed out in the pennies.
It takes one to really believe in bitcoin project to store more than 90% of your total wealth in coins and sleep well. And the true believers might be rewarded, but that would be a side effect. If you are just greedy, you are cashed out in the pennies.
Exactly why one should think about these things before they become a reality.. need to take the emotions, including greed, out of the equation...
great paradox of Bitcoin:
When it is time to cash out, we won't have to cash out anymore
When it is time to cash out, we won't have to cash out anymore
Lol, you silly goose.
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.
It takes one to really believe in bitcoin project to store more than 90% of your total wealth in coins and sleep well. And the true believers might be rewarded, but that would be a side effect. If you are just greedy, you are cashed out in the pennies.
It takes one to really believe in bitcoin project to store more than 90% of your total wealth in coins and sleep well. And the true believers might be rewarded, but that would be a side effect. If you are just greedy, you are cashed out in the pennies.
great paradox of Bitcoin:
When it is time to cash out, we won't have to cash out anymore
When it is time to cash out, we won't have to cash out anymore
aaand... this kind of posts makes me want to sell everything and wait for the crash in order to scoop more coins.
Ok... so the general consensus around here is basically: Don't sell till it will be life altering...
I've been pondering this... just what would I consider "life altering" ... and for the life of me, I can't nail it down to a single point.... the best I can come up with is a couple different, non-exclusive life altering points:
1) sell enough BTC to pay off the mortgage and all debts. At this point, I can tell my boss to shove it, and still maintain my lifestyle on just about any other job... Walmart greeter comes to mind... Just the psychological value of "debt free" and "I don't need THIS job" would be, in my opinion, life altering.
I'd call this "comfortable"
2) 2.5 million USD in BTC.... This is definitely life altering, as at this point, I don't need _ANY_ job. I can retire, maintain my lifestyle, and even take a couple vacations per year. And as the above, the psych value of knowing you'll never have to say "yes sir" to a boss ever again... very life altering.
I'd call this one "moderately wealthy"
3) 15 million USD in BTC ... Mansion, Yacht, Strippers, Blow ... umm..yeah... that would qualify as life altering.
umm... "very wealthy"
4) 50 million + ... Money really looses its meaning at this point.. I can't grok what my life would be like at this level...
"Ultra wealthy / Elite"
Note, if done right, one could cash out a portion at each level. So as stated above, none of these are mutually exclusive..... (of course at 4, and possibly even 3, "cash out" is meaningless as anything you want will be priced in BTC anyways...
Due to the rise in value, I think a lot of us are going to have to start thinking about the above as we exit the accumulation phase of our BTC investments...
Just wondering what everyone else thinks would be a worthwhile "life altering" level to start cashing out?
Regards,
Sigg
I've been pondering this... just what would I consider "life altering" ... and for the life of me, I can't nail it down to a single point.... the best I can come up with is a couple different, non-exclusive life altering points:
1) sell enough BTC to pay off the mortgage and all debts. At this point, I can tell my boss to shove it, and still maintain my lifestyle on just about any other job... Walmart greeter comes to mind... Just the psychological value of "debt free" and "I don't need THIS job" would be, in my opinion, life altering.
I'd call this "comfortable"
2) 2.5 million USD in BTC.... This is definitely life altering, as at this point, I don't need _ANY_ job. I can retire, maintain my lifestyle, and even take a couple vacations per year. And as the above, the psych value of knowing you'll never have to say "yes sir" to a boss ever again... very life altering.
I'd call this one "moderately wealthy"
3) 15 million USD in BTC ... Mansion, Yacht, Strippers, Blow ... umm..yeah... that would qualify as life altering.
umm... "very wealthy"
4) 50 million + ... Money really looses its meaning at this point.. I can't grok what my life would be like at this level...
"Ultra wealthy / Elite"
Note, if done right, one could cash out a portion at each level. So as stated above, none of these are mutually exclusive..... (of course at 4, and possibly even 3, "cash out" is meaningless as anything you want will be priced in BTC anyways...
Due to the rise in value, I think a lot of us are going to have to start thinking about the above as we exit the accumulation phase of our BTC investments...
Just wondering what everyone else thinks would be a worthwhile "life altering" level to start cashing out?
Regards,
Sigg
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