ChartBuddy's 24 hour Wall Observation recap
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.That 24 hour review does end un highlighting the poofed-ness of that wall, and such poofed-ness might cause some of us to wonder whether it is going to come back or not. That is one of the interesting things about actually noticing walls, and wondering if they serve some kind of a purpose, and sometimes they will also move quite a bit, and it can be a kind of demonstration that some entity either has coins to sell (on the ask side) or money to buy BTC (on the buy side), and surely one of our favorites do play out if the walls are eaten rather than moved around and there have actually been some times in which walls were eaten really quickly, which will sometimes cause some of us to speculate that maybe the bluff (or the play) did not end up working out as planned. . but that it is one of the risks that any whale takes when s/he might be trying to keep the price within a range, and the play does not end up working out.. getting back to the idea of fake walls versus real walls, and it is difficult for anyone (outside of the person who put it up) to really know if the wall is real or fake.. we can ONLY infer.
Anyone here who made it with Bitcoin but still keeps living like a average person? Thank god I made it, thanks to Bitcoin. But I keep staying in cheap hotels, try to eat good food but without spending unnecessary money etc. For example, I eat a good steak but I don’t choose a steak house but prefer a supermarket where you buy the meat from the butcher and then they cook it for you in the built in restaurant.. That costs me 20 bucks vs 60-80 bucks in the steak house for the same meat. I’m not sure if this is a good or a bad habit. I hate to spent money on things that do not give me more benefits than the cheaper version. A luxury hotel is nice but at the end you just need it for the night sleep. I’m outside all day exploring. Some people spent 500 bucks a night for a hotel. I try to safe 5€ per night by finding the same hotel over google. Usually I pay 40-50€ per night for a hotel
Another example, I live in the center of Bangkok and stay in a luxury apartment in Asok. The room is only 30 sqm and it costs me 700 euros a month. I could have a 60 sqm apartment in the same building but would cost me 1400 Euros. I just can’t justify spending that much money every month because it’s money I won’t ever see again. So, I live on a budget, but still in a luxury place. Trying to find the middle way when it comes to spending money.
Would be interesting to hear different opinions on this topic. Some people spent it on yachts and lambos. I try to live as cheap (but good) as possible.
This is a nice description of some of the trade-offs that many of us make, and I personally believe that if you have built a life-time and a habit of living within budgets, you should be able to determine at what points you are able to both increase your spending and to justify increasing your spending.
Surely there can be questions regarding whether you are still in a stage in which you are trying to grow your investment size (so you have a cushion or whatever) or if you might be in a maintenance stage or a liquidation stage. Many of us longer term bitcoiners likely realize that even if we start to spend more and more of our bitcoin, we are likely not going to go into heavy liquidation stages, unless we are either coming close to our death (and we are not planning to pass our bitcoin down) or we are facing some kind of a life-threatening (and maybe black swan?) kind of emergency... In other words, there is likely no better place to keep and to maintain your value aside from keeping most of it in bitcoin, even if you may well be getting into a practice of shaving off value from your BTC from time to time.
In other words, maybe there would be a lot of us who might feel that we have built up decently-sized BTC stashes to start to spend from a variety of other resources before we even start to dig into our bitcoin stash... surely we can play some of the price waves a bit, but still it seems difficult to justify playing the price waves with very large portions of our stash.. even as tempting as it might be sometimes.
Maybe LFC could chime in here.. surely he was saying that he ended up playing around 25% of his BTC stash and even if he did not end up getting the top and the bottom exactly right, it might be quite difficult to not get stressed when we are playing around with those kinds of levels of our BTC stash, even if the whole thing does end up playing out in a mostly positive way.
Another example of a famous person who played the BTC wave quite well is Preston Pysh. He has frequently told the story regarding how he got into bitcoin sometime before the 2017 BTC price rise and he ended up selling all of his BTC towards the top and then buying back, so he ended up playing that price wave quite successfully.. .but at the same time, he has subsequently been saying that he is never going to try to play BTC that way again, and part of his rationale is that he currently knows the value of BTC and at the time that he made that earlier trade, he did not know BTC well enough in order to know the risks that he was taking.. so he attributes his success on that trade to be lucky rather than smart.
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You won’t take all your money to your grave, so I advise you to spend a little on yourself at least once.
UnDerDoG81 already said that he is living in a kind of luxury while still maintaining a budget. So I don't see that there is any vacuum (or suffering) as you seem to be implying, even though surely sometimes it is can be quite satisfying to splurge a bit.
In my own life, I can see over the years ongoing increases in the amount that I spend, even though I had always been conceiving myself as being on a budget, at least in terms of making sure that I am mostly spending less than I make and even having around a minimum cushion of 10% in order to invest, and surely sometimes I even invested more than the 10%, but then after a while the amount that your investment is growing becomes more than the amount that you are spending, so sometimes you can get to a place in which you have to figure out more and more ways to spend more.
I am not going to claim to know exactly where that place is, but sometimes even if you might have been on a budget of $60k per year for example (which would be potentially comfortable but not overly luxurious), yet if your income (cashflow) is showing that you could easily spend $100k per year and still have $10k to $20k left over, then maybe you could increase to $80k per year prior to moving to $100k per year and you might not even need to max out, if you are still worried that you might not be growing (or providing a sufficient enough cushion for your future income).
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