Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 2539. (Read 26711605 times)

Explanation

Sorry.  I have been referencing fuck-you status and entry-level fuck-you status so much, so sometimes I might not elaborate on the concept very well.

The essence of the fuck-you status idea would be to consider at what point you believe you should solidly be able to generate enough income from you investment portfolio (or your investment portfolio is at a large enough size) that you feel comfortable quitting your job... and never needing to return to work except 100% optional.. and for funzies or for reasons other than the need to financially support yourself (or your family).  

Largely it could be considered that entry-level fuck-you status would be just getting into that area in which you would feel comfortable with such a quitting your job idea with a kind of presumption that you have built up enough money to live out your remaining days at your current standard of living or whatever standard of living you consider to be reasonably projected to be feasible (desirable/realistic and without overly suffering) based on the status of your investment portfolio and your expected future ongoing withdrawing of value from it.

Surely some folks are going to define entry-level fuck-you status in different ways including that they might still continue to work, while knowing that they have the option to quit such work/projects at any time, so they feel that they are at or exceeding entry-level fuck-you status.  

Some folks might still work and take on projects on a kind of optional basis while feeling that they are at or exceeding entry-level fuck-you status because whatever work / projects that they do is not needed financially in order to largely maintain their current lifestyle, their accustomed standard of living or any advancements in their standard of living that they anticipate entering into (of course, without fooling themselves with unrealistic projections that end up causing them to have to come back out of fuck you status and having to work because they miscalculated).

Prior to March 2020, I had largely considered default entry-level fuck-you status for living in the "west" to be having an investment portfolio that is largely over $1 million so that you are able to generate $3,333 per month of income from that investment portfolio.  

After March 2020, based on the revelations of the level of money printing shenanigans (and other then revealed world fragilities) I considered that it is better to presume entry-level fuck-you status to be starting at around having an investment portfolio at or more than $2 million, which therefore generates a passive income of $6,667 per month.

The numbers that I use are default starter amounts for a person in the west, so of course, some people can get by with way less, and there are others who feel that they need way more in order to be at entry-level fuck-you status.

I have some further attempts to explain entry-level fuck-you status on December 28, 2021 in the third post of my outline of investment ideas thread.  

For sure a kind of necessary aspect of measuring fuck-you status (especially when including such an inevitably volatile asset such as bitcoin into your investment portfolio) is to evaluate when we are there (at or exceeding entry-level fuck-you status), which is more difficult when including such an inevitably volatile asset such as bitcoin within your investment portfolio, so frequently I like to refer to the 200-week moving average in terms of trying to figure out fair valuations (in terms of anticipated BTC price bottoms) - even though we are currently way below the 200-week moving average (anticipated BTC price bottom) at the moment (200-week moving average currently above $24,400).

Hopefully, the additional rambling references help.

Edited - about 11 hours after originally posted for clarity and better readability

Where? In this Quoted post?

I hope you know what you have done there..

Jay, To be honest, I didn't get the whole fuck you status yet.
Can you please explain more? Sorry, I am new here.

fwiw I'd say table or studio.  If you already have a sufficient recording space, def. go for the table.  
In most urban parts of the world it's pure luxury to even have the room for a snooker table.

Explanation

Yep.. real world experience does seem to show us that inflation is higher than being disclosed.... and so perhaps we are getting prices doubling in about a year and a half.

I like to think of total family budget in terms of percentages, so you are right if the family budget for food had been 1% to 3%, then it may be way more manageable if it doubles and becomes 2% to 6%.. versus someone who might start out with a food budget that is 10% to 15%, then when it doubles it becomes 20% to 30%... so does the income increase keep up with that?

So yeah maybe some of the income increased 4% or maybe even 10% for folks who were really in a better income position, but did not make up for the doubling of the prices.

In terms of bitcoin, it can be interesting too.  Let's say that a BTC hodler might have been starting to feel that s/he was getting close to fuck you status when the BTC prices were in the $50k range, so s/he had accumulated around 30 BTC.. so really starting to feel close to fuck you status in terms of spot price.. .. but not feeling so rich now.. and just feeling like stacking sats and maybe having some struggles to muster up any extra cashflow to dedicate towards BTC.. used to be able to stack $100 per week, but now is having troubles to put together that much money... and so will s/he have more BTC in the event that BTC prices get back up to $50k again (assuming that BTC prices get up to $50k again at some point),

and maybe part of the goal for each of us might be to try to make sure that we are at least not losing in sats.. if we have not yet made it to fuck you status.. and even if we did make it to fuck you status, there might be some feelings of insecurity in regards to NOT being able to feel comfortable spending from BTC stash.. if the stash is less than 80 BTC.. like I had mentioned that amount before... as possibly being borderline fuck you status, but it ONLY really works if you are able to exercise some deferred gratification.. even if it might be more comfortable in later times, presuming the 200 week moving average continues to move up.

Think of Luke.. who lost around 200 BTC.  Does he have more BTC because that 200 BTC would be around 2.5x entry level fuck you status.. but maybe not so much for a guy with 8 kids.. maybe we have to consider that he might be ONLY at fuck you status with that quantity of coins with his family size?  But then someone with that many coins might still not feel comfortable spending any of his coins at these prices and while the prices of everything is continuing to go up..... in the ballpark of close to 2x in the past couple of years.

I cant decide what to do with the new space above the new garage....  (thank you bitcoin)
A studio to record really bad songs? (Jay and marcus would like that)
An indoor grow room to produce badass, stinky, sticky-icky? (idk, I don't indulge and I currently have a surplus)
Or something I just thought of tonight over a couple of beers...
A billiards table to play billiards or snooker. (not that retarded American eight ball crap) 
I kid... I always play eight ball on a pool table. It's what everyone knows.
Albeit, my late dear old dad taught me 3 ball billiards and snooker...the real deal, imo, when it comes to games on a pool billiard table.


And now I'm waiting for my manic trolling Greek buddy to post a big, long flaming toxic diatribe of split up quotes and one line replies he thinks are clever,
designed to bolster his "legend hero* in his own mind" status. (*apparently, he had to start a new account. I cant imagine why...)
As he ages, he will come to realize how foolish his posts are.  Or maybe not, who knows if it's permanent brain damage?



GO BITCOIN

Explanation

McDonald's is going to start firing people.

https://www.businessinsider.com/mcdonalds-ceo-warns-staff-of-possible-layoffs-in-spring-2023-1





What will rekt daytraders do now?

Explanation

Explanation

Freakin inflation Jumped over our heads.
We live life somehow well. But I feel sad when I think of a family with only one person to earn, and the family is big.

very nice

Explanation

Thank god it is some of the  food not all.

I have okay amounts of silver.

Not much gold.

I keep stacking btc and expanding the mine.

Explanation

wow, @phil, those one year differences in NY groceries are just CRAZY (feels almost like Argentina).
@BitcoinBunny...it goes to how that long-term inflation numbers are cringe-worthy.

Alas, apart from buying btc (and, reluctantly, maybe gold), what one can do?
Gold goes up and down so slowly that you never know if you are getting a bargain or buying at the top as we are still below the 2011 top, 12 years later.
I bought a little of paper silver (SLV) some time ago, not going to buy a bag and store it somewhere. It is not the same, but, hopefully, sufficiently close for a hedge.
Still, this is just for fun.