This is the kind of deal I'm hoping for. Even if I don't get a lambo it's a nice profit to make.
https://bitsonline.com/lamborghini-bitcoin-saddington/... having bought his first bitcoin way back in 2011. When he bought in, the bitcoin price was $2.52.
Come October 2017, and Saddington’s cheap investment from 2011 had earned enough profit to allow him to purchase the Lamborghini. Rather than selling his coins at an exchange and buying the car with fiat, however, Saddington made the entire purchase with bitcoin.
Based on what he paid for the bitcoins in 2011, Saddington said his car only cost around $115. Profit from the skyrocketing bitcoin price took care of the rest.
He bought the car in despite the Bitcoin Lambo memes warning against buying a car with the rapidly-appreciating bitcoin. Saddington acknowledged that his purchase may end up costing him $20 million in the future as bitcoin’s value goes up. “But sometimes you just have to reward yourself,” he said.
At a guess if he'd hodled he would be a multi millionaire by now. Maybe I won't be getting a lambo after all.
For nice and round numbers, let's say that the Lambo cost him around 50 BTC
(or 45 BTC like Gachapin said), and he got those BTC for around $115 or maybe he paid a bit more for the BTC or the lambo cost him a bit more.. .. .. yet.. I would conjecture that any good money manager is not going to be spending more than 1/4 of his her stash for a stupid depreciating car.. (even if it is nice looking and all of that). In other words, I would conjecture that he should have at least 150 BTC at the time of that October 2017 purchase - so then one of the major questions would be whether he would have bought more BTC when the BTC price dropped between 2018 and 2020, and was he not so careless as to sell some of his BTC in such a way that would be too much too soon.
Even though I am granting up to 25% on a luxury car, I could not imagine even spending 5-10% of my stash on such a car... so in that regard, if the targeted lambo costs around $500k (and maybe even more) then I would not really judge too much if the person were to have $2million in networth in order to buy such lambo (so that would be 25%, but more reasonably, I would expect a bit more networth, even though such lambo would be affordable, even at 25% of networth. Maybe I am being a bit too judgmental about the use of wealth on consumption goods, and we know that there are quite a few consumption goods that cost quite a ibt of money to actually use, and some luxury homes, yachts and airplanes seem to fit into that category... and some of us somewhat normies consider ourselves as getting close to reaching fuck you status, reaching fuck you status or being multiples above our target fuck you status, but still if we start to compare our lifestyles to the lifestyles of the rich and famous (the filthy rich) then we likely realize that there is still quite a bit of a gap.. and then maybe there could be questions regarding if we are already established rich or if we are just new rich (and may have even been somewhat bumped out of our feelings of rich status in recent times, perhaps?).
This is the kind of deal I'm hoping for. Even if I don't get a lambo it's a nice profit to make.
https://bitsonline.com/lamborghini-bitcoin-saddington/... having bought his first bitcoin way back in 2011. When he bought in, the bitcoin price was $2.52.
Come October 2017, and Saddington’s cheap investment from 2011 had earned enough profit to allow him to purchase the Lamborghini. Rather than selling his coins at an exchange and buying the car with fiat, however, Saddington made the entire purchase with bitcoin.
Based on what he paid for the bitcoins in 2011, Saddington said his car only cost around $115. Profit from the skyrocketing bitcoin price took care of the rest.
He bought the car in despite the Bitcoin Lambo memes warning against buying a car with the rapidly-appreciating bitcoin. Saddington acknowledged that his purchase may end up costing him $20 million in the future as bitcoin’s value goes up. “But sometimes you just have to reward yourself,” he said.
At a guess if he'd hodled he would be a multi millionaire by now. Maybe I won't be getting a lambo after all.
I registered here in 2011 after discovering I could play poker for bitcoin.
I have sold little bits to do things like take a trip with my wife.
But ultimately I have bought the dips enough to replace those sold coins. Part of it is my ethos. I do not really need all that much stuff. In fact in the end I just might make all of you richer.
“Lost coins only make everyone else's coins worth slightly more. Think of it as a donation to everyone.” -somebody important
I accepted long ago I will either be a genius for holding, or a fool.
We will see.
And that seems to be another angle that if you end up selling smaller amounts of BTC (in the 5% to 10% arena), then it becomes a lot more likely (or easier) that you will be able to replace a decent proportion of the amount that you sold. Selling 25% or more becomes much more difficult to replace without taking what is likely unnecessary risk or causing yourself to be overly uncomfortable in living your life (even while increasing your standard of living).
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