Topic: rpietila Wall Observer - the Quality TA Thread ;) - page 140. (Read 907229 times)

Technical persons weren't technical persons until the day they started to learn technical stuff.

I have a shitty blackberry and I never make calls, I only use Whatsapp so I pay about 6€ monthly for my contract. I don't smoke, drink or go out partying. I barely go out because I can't pay for the train to begin with.

So like I said, my only scape that I see right now, realistically, is if Bitcoin goes much higher in the next 10 years. So unless this was it and the big gains already happened, im pretty much fucked, unless totally out of my control lucky events unfold.

Interesting unfolding of your life, the part I don't get is, how did you from there to making 1 million exactly? And how im going to be a millonaire at 34 specifically? Also im 25 soon. Im also an autist, I need specific step by step instructions to function. I didn't chose to be born like this, is just the way I percieve the world. Ironically, im really bad at programing, which should be a benefit of being autist. Not even that, lol.
The only way I see being a millonaire at 34 is if BTC goes to like 50K per coin, otherwise unless something else lucky happens, it's not gonna happen, realistically speaking and given the current situation.

So what do you study here exactly and how would that help me getting a job anyway? Is it too technical? Im not a technical person, im not cut for that.

The thing to remember about the Winkl ETF is they own a lot of the underlying asset. They aren't going to sell their btc as part of the etf they will simply be buying more. Now if they hold a significant amount of BTC why would they want to keep the price of their investment down? Lets not forget gold vs btc we're talking about trillions vs a few billion.

It seems that gold paper promises amount to 100X+ the physical gold stock. You get that if you sell pieces of paper as gold-substitutes you push the price of the real thing lower, since you subtract demand from the real-thing's market.

I expect that the BTC ETFs will work exactly in the same way.

exactly, they fall into the same category.

Phone contract expenses are not the worst, there are people who complains about not having money while spending 200€/month on cigarettes...

Thats a great read!

I am in a similar situation, working my ass off in 2 jobs while giving tutorials in university and trying to finish my studies. And investing/saving every penny i can into Bitcoins.

I am not doing it as extreme as you did, but i only need 250€ per month - i think thats a good number. Every € above that number goes into Bitcoins.

GiveBTCpls, i have a lot friends like you. Blaming everyone else or the universe for their situation, but in reality its always their own fault.

For example, they re paying 40€/month for their smartphone contracts, and then they are surprised, that they have no money.

If you are paying more than 10€ per month for your phone, well then you are one of them.

The need for the replacement of the current system seems obvious to me. The trajectories of the trends of technological progress and unemployment seem to dictate that we will need to abandon our current system soon. The basic income idea is gaining traction lately, especially in German speaking countries for some reason, maybe because GRUNDEINKOMMEN sounds so much more bad ass than basic income The Swiss held a referendum on this very idea recently, but rejected it.

The way I see it there is a huge danger here. The arguments for a basic income seem compelling in the face of our current economic reality. BUT we mustn't fall prey to the close minded assumption that basic income can only be implemented via the state/government. What we should focus on, before the economic pressure forces our collective hand so to say, is creating systems/networks for the providing of basic needs, which are based on voluntary cooperation, not on forced redistribution. This is why I keep advocating that we, the early adopter community, need to embrace tipping/payment culture (thank you Bitcoin and microtransactions!) to blaze the trail. Otherwise some sort of government mandated "solution" might very likely be forced down our throats in the years to come. We need to be ready, with (superior) alternatives in place.

You should give classes in that castle of yours! Offer week-long seminars complete with hiking around the countryside or something! If that's successful, you may be in for another million (please invest that in BTC afterwards)

When I was 12 I realized I need to get to Helsinki or I would be stuck in a village where the distance to the nearest elementary school is 25 km and employment was about 30%. (My brother currently runs the farm and both parents are working outside in addition, to make the ends meet.) So I needed to undergo the following, among others:

- Working on farms (several employers), potatoes, picking strawberries, manufacturing & selling products, general farmwork, to raise money
- Buying and playing every title of the Sid Meier's Civilization series to enhance strategic thinking
- Saving money whenever possible, especially never buying a drink (even at my own sophomore party), always drinking from the toilet tap, going a whole day without drinking if tap water wasn't available, walking up to 8 km habitually just to save money, never buying clothes or food until 18
- Investing in stocks in the age of 16, in Russian market when 18, it went down 75% in 2 weeks since I bought
- Biking 22 km/day instead of taking a subsidized bus, to save money; hopping off bus 1 km early because the fare was cheaper
- Delivering spam to ppl's mailbox, twice per week, up to 830 mailboxes at a time, while trying to study
- Scavenging the trashbins for food, living up to 6 weeks without even once buying groceries, during uni
- Falling victim to multiple scams and money-making schemes
- First company went bankrupt and due to good luck, I did not end up losing all
- Second company was still making loss after 5 years, so essentially I subsidized it with my time and lived off wife's salary
- An arm of the government of Finland confiscated all my assets once for 7 months, no charges, no compensation
- Only occasionally had a car or two (or up to 8 when we had a car rental agency)
- Never owned real estate before buying the castle
...
- Making my first million at the age of 29, a mere 17 years after making the commitment to do so.

=> Make a target and stick to it. The unalterable laws of statistics favor the determined, if you just roll the ball enough many times

17 years sounds like much, but really if you are now 23, you'll then be 40. Not everyone who is 40 has a million euros! Also you are older in the beginning, so it's possible you can do it ~4 years sooner just for that reason. Then the general speed of things has increased a lot, shave off an additional 2 years. So at 34, you'll be a millionaire!

Could you elaborate, what happened there? Wouldn't a drained liquidity simply push the price up? Isn't that good?

i hope so, since i expect that the most likely effect will be like the gold and silver ETFs on pm price.
if they will sell multiples in btc-promises of what they own it could drain lots of liquidity from the market

Zero interest is pretty unlikely I would think. More a question of how much and when.

lets go back to some quality discussion:

i have a question regarding the etf's: do you think they will make all of their trades on one of the established exchanges? or will they make most of their trades on one of the new "official" government approved exchanges?

do you think the etfs will have a big impact, even though they might buy the coins from a wealthy holder and bypass the market?

what happens if there is no interest for the etf shares?

ftfy

I beg to differ. 

I doubt that we are psycho - analyzing anyone, but instead trying to provide meaningful suggestions concerning the future of BTC and how any person may consider his/her abilities to invest into BTC (whether it is worth it to invest into BTC - seems to be an individual choice but it is also dependent upon a person's view of potential BTC price performance outcomes in the future).

"For bitcoin to make it it needs to be banned by a few governments and critiqued by policy makers. Otherwise it will fade. #Antifragile."
 Nassim Taleb

it definitely is not boring. it is a paradigm shift happening before our very eyes, in the trenches. id go so far to say that bitcoin exists in hyper time.

just look back and see what has gone down in 7 months.

- Car chases, helicopters, free lunches, exposes and the one sentence return of Satoshi (The Newsweek article)
- MtGox went belly up, leaked info, blockchain detective work, bankruptcy court.
- BTC Foundation elections, resignations controversy
- Apple on again, off again.
- major retailer adoption (OS)
- Legal in California, yes / no / maybe banned in China, Rusia, Ecuador, Thailand, Denmark etc
- Lawsky regs

If you are bored, why not look up the meaning of 'tautology'?