I was surprised it was working again. Thanks for this!
I have been doubling, but I am doubting to continue, maybe sell a bit at 50% raise... any ideas? What are your strategies?
Topic: (SSS) - A Sane and Simple bitcoin Savings plan - page 2. (Read 84914 times)
Finally there's been another doubling. 
Just giving this thread a BUMP since BTC's finally up in the $1K area (i.e. maybe for folks who have dollar-cost-average buy prices in $500-range over the last couple years of this thread...? You're *finally* lookin' at hitting your first-doubling-point in the SSS plan! 
)
Also I was bummed out to see that the http://www.bitcoinsavingsplan.com/ site seems to have disappeared?
It still works via Internet Archive "Wayback Machine" fortunately...
https://web.archive.org/web/20161002124812/http://bitcoinsavingsplan.com/
...but I think it'd be nice to maybe revive the site if the owner is around here and needs to run a crowdfund campaign? I'll kick in a couple bucks if so...
)Also I was bummed out to see that the http://www.bitcoinsavingsplan.com/ site seems to have disappeared?
It still works via Internet Archive "Wayback Machine" fortunately...
https://web.archive.org/web/20161002124812/http://bitcoinsavingsplan.com/
...but I think it'd be nice to maybe revive the site if the owner is around here and needs to run a crowdfund campaign? I'll kick in a couple bucks if so...
Revived
.I got a heads up that the site was being discussed again... I had originally planned to pull it into a larger site and add some more calculators and tools, but haven't had time to work on it. So for now, it's back up as it was.
Seeing as how there are more and more users, and the halving has already passed it's obvious that it will become more and more complicated to gain bitcoin and have a decent amount in a reasonable time.
Just giving this thread a BUMP since BTC's finally up in the $1K area (i.e. maybe for folks who have dollar-cost-average buy prices in $500-range over the last couple years of this thread...? You're *finally* lookin' at hitting your first-doubling-point in the SSS plan! )
Also I was bummed out to see that the http://www.bitcoinsavingsplan.com/ site seems to have disappeared?
It still works via Internet Archive "Wayback Machine" fortunately...
https://web.archive.org/web/20161002124812/http://bitcoinsavingsplan.com/
...but I think it'd be nice to maybe revive the site if the owner is around here and needs to run a crowdfund campaign? I'll kick in a couple bucks if so...
)Also I was bummed out to see that the http://www.bitcoinsavingsplan.com/ site seems to have disappeared?
It still works via Internet Archive "Wayback Machine" fortunately...
https://web.archive.org/web/20161002124812/http://bitcoinsavingsplan.com/
...but I think it'd be nice to maybe revive the site if the owner is around here and needs to run a crowdfund campaign? I'll kick in a couple bucks if so...
...like a year after the original post was made.
Anyway, no further doubling of the BTC price occurred after the OP, but we *are*, at least, nearing $1 per mBTC again.
Like I said, no further doubling has occurred, so there hasn't been anything to witness or stay disciplined on, other than hodling.
Shame we can't send BTC and Cryptos to an address in a way that we can only access them at some time in the future.
you can actually do just that.
It is easy to say to save bitcoin savings, for our future or for our plan where we will going to use our money for the future. We cannot predict where will our savings will be going ? We must see what the future, and what we will be the long term goals.
Zuyfg888 - It looks like you are reading the title of the thread, and missing the point - maybe because you did not read anything else in the thread (including OP).
I don't think that the point of OP or the points of this thread is only about saving, but instead about having a plan, and a plan specifically to rake some BTC profits along the way, otherwise if you save too much of your BTC and you do not take out some profits at certain points, then you may end up with a plan that is too overly invested in BTC.
I do agree with a lot of the overall points being made in OP and in this thread, yet over the past few years, I have tweaked a system that is quite tailored to myself that has some of the same ideas of OP, but maybe with a bit smaller intervals and NOT necessarily waiting for 10x profits.. I personally think that a more prudent move (especially with a more mature investment such as bitcoin is today as compared with its earlier days) is to take profits at smaller increments and smaller amounts all the way up the chain as the price goes up, but don't take out so much profits that you will deplete your bitcoin stash if the price goes up to $3k or $10k or even $50k or more. We gotta keep those kinds of high end numbers in mind, too.
It is easy to say to save bitcoin savings, for our future or for our plan where we will going to use our money for the future. We cannot predict where will our savings will be going ? We must see what the future, and what we will be the long term goals.
I agree this is a great strategy and am using a variant myself.
However, for newcomers (people buying bitcoin for the first time), I think a slight variation on...
...can be used: The initial investment can be made in steps (dollar-cost average), albeit as quickly as comfortably possible. Of course this is subobtimal in situation like now when we're rallying, but it also protects the psychology of the investor in case of a harsh drop right after the buy-in.
However, for newcomers (people buying bitcoin for the first time), I think a slight variation on...
It is important to buy in as soon as possible, because waiting has in general not been a good strategy with bitcoin.
...can be used: The initial investment can be made in steps (dollar-cost average), albeit as quickly as comfortably possible. Of course this is subobtimal in situation like now when we're rallying, but it also protects the psychology of the investor in case of a harsh drop right after the buy-in.
...like a year after the original post was made.
Anyway, no further doubling of the BTC price occurred after the OP, but we *are*, at least, nearing $1 per mBTC again.
Shame we can't send BTC and Cryptos to an address in a way that we can only access them at some time in the future.
That way, we can't be tempted to spend them.
I know Bitcoin has a lock_time facility for this, but it's been switched off so as not to bloat the network with maturing
transactions.
How about maturing those investments in another network, whose purpose is solely to mature, time_locked cryptocurrencies.
Such an application could be built in to existing network nodes.
Eg, a BTC or Altcoin Node, could also act as a node for this network.
Transaction speed might not be that important, after all, If I send 1 Cryptocoin to myself to be accessed
in ten years time, do I care if I get it at 9:am or 23:00pm or even if it is a day or two late.
That way, we can't be tempted to spend them.
I know Bitcoin has a lock_time facility for this, but it's been switched off so as not to bloat the network with maturing
transactions.
How about maturing those investments in another network, whose purpose is solely to mature, time_locked cryptocurrencies.
Such an application could be built in to existing network nodes.
Eg, a BTC or Altcoin Node, could also act as a node for this network.
Transaction speed might not be that important, after all, If I send 1 Cryptocoin to myself to be accessed
in ten years time, do I care if I get it at 9:am or 23:00pm or even if it is a day or two late.
You can still use the OP_CHECKLOCKTIMEVERIFY parameter.
https://www.reddit.com/r/Bitcoin/comments/3yoa47/you_can_now_create_op_hodl_address_to_lock_your/
Shame we can't send BTC and Cryptos to an address in a way that we can only access them at some time in the future.
That way, we can't be tempted to spend them.
I know Bitcoin has a lock_time facility for this, but it's been switched off so as not to bloat the network with maturing
transactions.
How about maturing those investments in another network, whose purpose is solely to mature, time_locked cryptocurrencies.
Such an application could be built in to existing network nodes.
Eg, a BTC or Altcoin Node, could also act as a node for this network.
Transaction speed might not be that important, after all, If I send 1 Cryptocoin to myself to be accessed
in ten years time, do I care if I get it at 9:am or 23:00pm or even if it is a day or two late.
That way, we can't be tempted to spend them.
I know Bitcoin has a lock_time facility for this, but it's been switched off so as not to bloat the network with maturing
transactions.
How about maturing those investments in another network, whose purpose is solely to mature, time_locked cryptocurrencies.
Such an application could be built in to existing network nodes.
Eg, a BTC or Altcoin Node, could also act as a node for this network.
Transaction speed might not be that important, after all, If I send 1 Cryptocoin to myself to be accessed
in ten years time, do I care if I get it at 9:am or 23:00pm or even if it is a day or two late.
Let the system continue to bloat, and your transaction won't process til then anyway
You are living in a fantasy world explorer if you are spewing out nonsense about the bitcoin system supposedly being "bloated" currently. That is nonsense and you should know it.
Sure in recent months there had been various attacks on the bitcoin network that caused transactions to be delayed, but in recent weeks transactions have been going through pretty timely.. and also it is quite likely that segwit is going to be of considerable assistance, once it is activated... so we will be looking good if seg wit ends up getting activated within the next 10 months.. or hopefully sooner...
With the recent price appreciation, we should be thinking...
This is Gentlemen, no? or at least gentlemen may be coming soonTm
Shame we can't send BTC and Cryptos to an address in a way that we can only access them at some time in the future.
That way, we can't be tempted to spend them.
I know Bitcoin has a lock_time facility for this, but it's been switched off so as not to bloat the network with maturing
transactions.
How about maturing those investments in another network, whose purpose is solely to mature, time_locked cryptocurrencies.
Such an application could be built in to existing network nodes.
Eg, a BTC or Altcoin Node, could also act as a node for this network.
Transaction speed might not be that important, after all, If I send 1 Cryptocoin to myself to be accessed
in ten years time, do I care if I get it at 9:am or 23:00pm or even if it is a day or two late.
That way, we can't be tempted to spend them.
I know Bitcoin has a lock_time facility for this, but it's been switched off so as not to bloat the network with maturing
transactions.
How about maturing those investments in another network, whose purpose is solely to mature, time_locked cryptocurrencies.
Such an application could be built in to existing network nodes.
Eg, a BTC or Altcoin Node, could also act as a node for this network.
Transaction speed might not be that important, after all, If I send 1 Cryptocoin to myself to be accessed
in ten years time, do I care if I get it at 9:am or 23:00pm or even if it is a day or two late.
Let the system continue to bloat, and your transaction won't process til then anyway
Shame we can't send BTC and Cryptos to an address in a way that we can only access them at some time in the future.
That way, we can't be tempted to spend them.
I know Bitcoin has a lock_time facility for this, but it's been switched off so as not to bloat the network with maturing
transactions.
How about maturing those investments in another network, whose purpose is solely to mature, time_locked cryptocurrencies.
Such an application could be built in to existing network nodes.
Eg, a BTC or Altcoin Node, could also act as a node for this network.
Transaction speed might not be that important, after all, If I send 1 Cryptocoin to myself to be accessed
in ten years time, do I care if I get it at 9:am or 23:00pm or even if it is a day or two late.
That way, we can't be tempted to spend them.
I know Bitcoin has a lock_time facility for this, but it's been switched off so as not to bloat the network with maturing
transactions.
How about maturing those investments in another network, whose purpose is solely to mature, time_locked cryptocurrencies.
Such an application could be built in to existing network nodes.
Eg, a BTC or Altcoin Node, could also act as a node for this network.
Transaction speed might not be that important, after all, If I send 1 Cryptocoin to myself to be accessed
in ten years time, do I care if I get it at 9:am or 23:00pm or even if it is a day or two late.
This is a very helpful guide to save. I can take some points and add it to my own savings plan. As of now bitcoin has continuously rise in price as its popularity and number of users are increasing everyday. Aside from that around a thousand bitcoins are being burned or lost annually and the demand is not decreasing but exponentially increasing. At this rate, there is no stopping bitcoin to take the center stage and reach a 1 million $ price for each bitcoin. We should save more bitcoins so we can be millionaires 5 to 10 years from now.
I agree this is a great strategy and am using a variant myself.
However, for newcomers (people buying bitcoin for the first time), I think a slight variation on...
...can be used: The initial investment can be made in steps (dollar-cost average), albeit as quickly as comfortably possible. Of course this is subobtimal in situation like now when we're rallying, but it also protects the psychology of the investor in case of a harsh drop right after the buy-in.
However, for newcomers (people buying bitcoin for the first time), I think a slight variation on...
It is important to buy in as soon as possible, because waiting has in general not been a good strategy with bitcoin.
...can be used: The initial investment can be made in steps (dollar-cost average), albeit as quickly as comfortably possible. Of course this is subobtimal in situation like now when we're rallying, but it also protects the psychology of the investor in case of a harsh drop right after the buy-in.
...like a year after the original post was made.
Anyway, no further doubling of the BTC price occurred after the OP, but we *are*, at least, nearing $1 per mBTC again.
This thread definitely deserves at least a "monthly bump"
Especially *now* I think, what with the 2nd Halvening successfully behind us (no big price jump yet but at least no big DROP either, and hashpower does not seem to have gone down, so apparently miners are not shutting off machines?) and HOPEFULLY maybe also *finally* a resolution to the block size battle IF next month the alleged chinese rebellion "Terminator" plan somehow forces an update to at least 2mb blocks...?
Remains to be seen, of course, and as always the next "two weeks are critical" LOL
But I'm optimistic that the blocksize problem will be solved one way or another and Honey Badger will then resume upward exponential trajectory. Hope Hope.
P.S. But, yeah, if not I've personally taken Risto's advice and socked away an equal amount of Monero that I'd have wanted to have already saved in bitcoin: seems to me actually even if BTC does not fail, that of all the altcoins maybe only Monero could find it's own use/niche and also succeed independently. MaidSafe is also very ambitious and potentially world-changer even outside of the cryptocurrency space alone... but I still have most hope and confidence in BITCOIN
Especially *now* I think, what with the 2nd Halvening successfully behind us (no big price jump yet but at least no big DROP either, and hashpower does not seem to have gone down, so apparently miners are not shutting off machines?) and HOPEFULLY maybe also *finally* a resolution to the block size battle IF next month the alleged chinese rebellion "Terminator" plan somehow forces an update to at least 2mb blocks...?
Remains to be seen, of course, and as always the next "two weeks are critical" LOL
But I'm optimistic that the blocksize problem will be solved one way or another and Honey Badger will then resume upward exponential trajectory. Hope Hope.
P.S. But, yeah, if not I've personally taken Risto's advice and socked away an equal amount of Monero that I'd have wanted to have already saved in bitcoin: seems to me actually even if BTC does not fail, that of all the altcoins maybe only Monero could find it's own use/niche and also succeed independently. MaidSafe is also very ambitious and potentially world-changer even outside of the cryptocurrency space alone... but I still have most hope and confidence in BITCOIN
I think this thread deserves a bump.
Everyone preparing their variations of SSS cashing out charts?
Yes but hubby wants to sell at a lower price than I do. He reminded me that he wanted to sell earlier but we didn't. It seems to always be my fault in hindsight.
I will try my best this time not to stop him from selling. I admittedly have talked him out of selling before. But I think if we get a good bubble going the price will go well over our previous ATH. I guess having a plan in place is wise. We really don't know for sure what is going to happen. Have you thought about the 50/50 approach. You get 50% of coins to do as you will and so does he. If he sells early and BTC price then drops, he has his money to play with and he can take you out sometimes. If he sells early and BTC goes to the moon, you can let him visit your mansion or join you on trips from time to time.
Let him visit my mansion? That makes for a healthy marriage. LOL
I am fine with going with the "plan." If I had gone with the plan we would most likely have a few more coins to play with now but in reality if and when BTC bubbles in price again we can make some gains just by sticking to the SSS and reinvesting if we choose to on the dips if they happen. If not then it really isn't a problem. We have made some gains and it is all good.
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