I'm worried about going to sleep. The big dump is coming.
Perhaps evacuate your bowels before settling down to sleep.
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 31677. (Read 26609568 times)
November 23, 2013, 03:56:37 AM
Perhaps evacuate your bowels before settling down to sleep.
November 23, 2013, 03:54:09 AM
I'm worried about going to sleep. The big dump is coming.
Big dumps are just individuals deciding to sell, for many various reasons. This is irrelevant to the market. The market is driven by sentiment and sentiment is up. Every day there are companies announcing they are accepting bitcoins, VCs funding startups, financial advisers seeing sense and recommending clients have a smallholding in bitcoin.
There has only really been two bear markets. July - Nov 2011, and April - June 2013. The rest of the time sentiment has been positive.
November 23, 2013, 03:52:20 AM
you bears just wont give up. We already had a major correction 2 days ago now we are rallying back up to new ATH.
November 23, 2013, 03:51:01 AM
Quote
I'm worried about going to sleep. The big dump is coming.
no worries if you know it, just sold and go sleep !
November 23, 2013, 03:49:46 AM
OMG... my sweetest apologies my lady!
GOOD MORNING LADIES!
GOOD MORNING LADIES!
No worries...and good morning to you. Another fine day in the BTC trenches
November 23, 2013, 03:48:37 AM
I was quoting prices is dollars for convenience, because this is a large forum where most readers do not use bitcoin as their accounting unit.
Wealth is the same, regardless whether it is measured in bitcoins or dollars, because (in any point of time), bitcoin is a fixed multiple of dollar.
I do advocate using dollar as your accounting unit, since its value (purchasing power) is relatively constant, whereas Bitcoin's purchasing power increases tenfold every year. It is just handy.
But I also encourage to carefully consider that every one of your bitcoins is increasingly likely to reach $1 million in value quite soon. It should be treated as an inheritance, not to be wasted away. Every bitcoin you give away must give you more value than an extra $ one million would have given you in a few years of time. This is accomplished by selling only so little that the remaining amount is worth more (more dollars, houses, or gold) than the whole stash was in the previous stage.
How you allocate the non-bitcoin part of your portfolio is up to you. I do not advocate holding dollars as any % of it, unless you do arbitrage or something. The value converted from bitcoin should be used to buy silver, gold, castles with apple gardens, businesses, etc.
If you are a world dominator, then it makes sense to acquire as many bitcoins as possible and not care about the above. But who wants in that kind of game anyway...
The "non-bitcoin portion of my portfolio" is my ability to earn a living via means that would still exist if Bitcoin goes to zero.Wealth is the same, regardless whether it is measured in bitcoins or dollars, because (in any point of time), bitcoin is a fixed multiple of dollar.
I do advocate using dollar as your accounting unit, since its value (purchasing power) is relatively constant, whereas Bitcoin's purchasing power increases tenfold every year. It is just handy.
But I also encourage to carefully consider that every one of your bitcoins is increasingly likely to reach $1 million in value quite soon. It should be treated as an inheritance, not to be wasted away. Every bitcoin you give away must give you more value than an extra $ one million would have given you in a few years of time. This is accomplished by selling only so little that the remaining amount is worth more (more dollars, houses, or gold) than the whole stash was in the previous stage.
How you allocate the non-bitcoin part of your portfolio is up to you. I do not advocate holding dollars as any % of it, unless you do arbitrage or something. The value converted from bitcoin should be used to buy silver, gold, castles with apple gardens, businesses, etc.
If you are a world dominator, then it makes sense to acquire as many bitcoins as possible and not care about the above. But who wants in that kind of game anyway...
As far as savings goes, I'm only interested in forms that are transportable frictionlessly across international borders. Whatever form I keep my savings in, it should be capable of travelling with me no matter where I choose to live.
November 23, 2013, 03:48:05 AM
castles with apple gardens,
Sounds nice. I PM'd you the other day re another thread of your's....the next day I went to register my car and the lady who served me was from Estonia...pretty wierd considering where I am (deepest, greenest Australia)
November 23, 2013, 03:45:49 AM
I'm worried about going to sleep. The big dump is coming.
November 23, 2013, 03:44:47 AM
For most people, holding 100% of the initial amount is not a wise choice. It is good to diversify by selling into strength to account for the possibility of a black swan event in Bitcoin technology. This way you steadily accumulate also non-BTC assets, and can learn how to handle wealth. You sleep better and don't see dips in price as an opportunity to panic, but rather an opportunity to buy back if you really feel like so. The selling plan must be based on percentages, which means that no matter how high bitcoin goes, you still have more value in your remaining BTC.
If you have BTC1,000 and you absolutely want to have the same number when it hits $million, then it is best to just bury the paper wallet into ground and wake up when you are a billionaire. Trading only makes you lose the most of it over time with no gain. But it is not healthy for anyone to suddenly become a billionaire.
If instead, you flex your Excel muscle and devise a plan to sell BTC900 in decreasing increments at exponentially rising price points, you will already be rich and well-established when bitcoin hits $1 million, and totally content with the idea that your remaining stash is still worth a cool $100M.
For me, Bitcoin is not an investment - it's immigration.If you have BTC1,000 and you absolutely want to have the same number when it hits $million, then it is best to just bury the paper wallet into ground and wake up when you are a billionaire. Trading only makes you lose the most of it over time with no gain. But it is not healthy for anyone to suddenly become a billionaire.
If instead, you flex your Excel muscle and devise a plan to sell BTC900 in decreasing increments at exponentially rising price points, you will already be rich and well-established when bitcoin hits $1 million, and totally content with the idea that your remaining stash is still worth a cool $100M.
Instead of being a fiat native who dabbles in Bitcoin, I'm now a Bitcoin native who only deals with fiat reluctantly, when it's unavoidable.
At the present time I pay for more than 50% of my monthly expenses with BTC and that percentage is trending up.
I was quoting prices is dollars for convenience, because this is a large forum where most readers do not use bitcoin as their accounting unit.
Wealth is the same, regardless whether it is measured in bitcoins or dollars, because (in any point of time), bitcoin is a fixed multiple of dollar.
I do advocate using dollar as your accounting unit, since its value (purchasing power) is relatively constant, whereas Bitcoin's purchasing power increases tenfold every year. It is just handy.
But I also encourage to carefully consider that every one of your bitcoins is increasingly likely to reach $1 million in value quite soon. It should be treated as an inheritance, not to be wasted away. Every bitcoin you give away must give you more value than an extra $ one million would have given you in a few years of time. This is accomplished by selling only so little that the remaining amount is worth more (more dollars, houses, or gold) than the whole stash was in the previous stage.
How you allocate the non-bitcoin part of your portfolio is up to you. I do not advocate holding dollars as any % of it, unless you do arbitrage or something. The value converted from bitcoin should be used to buy silver, gold, castles with apple gardens, businesses, etc.
If you are a world dominator, then it makes sense to acquire as many bitcoins as possible and not care about the above. But who wants in that kind of game anyway...
November 23, 2013, 03:43:17 AM
OMG... my sweetest apologies my lady!
GOOD MORNING LADIES!
GOOD MORNING LADIES!
November 23, 2013, 03:42:35 AM
The great tech exit ... texit.
Nice blending (as us linguists say)...I like that
November 23, 2013, 03:41:59 AM
In other word, if BTC cannot be used as a real currency
Should I take a picture of me eating a meal cooked exclusively from ingredients produced by local farmers who accept Bitcoin?
November 23, 2013, 03:39:58 AM
In other word, if BTC cannot be used as a real currency
Should I take a picture of me eating a meal cooked exclusively from ingredients produced by local farmers who accept Bitcoin? November 23, 2013, 03:39:46 AM
GOOD MORNING FELLAS
Ahem...and ladies please November 23, 2013, 03:34:52 AM
This must be the coolest thread in the whole bitcointalk forum...
GOOD MORNING FELLAS
Good morning rpietilla, thanks for the advice...
GOOD MORNING FELLAS
Good morning rpietilla, thanks for the advice...
November 23, 2013, 03:34:29 AM
In other word, if BTC cannot be used as a real currency
Should I take a picture of me eating a meal cooked exclusively from ingredients produced by local farmers who accept Bitcoin?Another reason to move to Texas, hmmmm?
November 23, 2013, 03:32:54 AM
For most people, holding 100% of the initial amount is not a wise choice. It is good to diversify by selling into strength to account for the possibility of a black swan event in Bitcoin technology. This way you steadily accumulate also non-BTC assets, and can learn how to handle wealth. You sleep better and don't see dips in price as an opportunity to panic, but rather an opportunity to buy back if you really feel like so. The selling plan must be based on percentages, which means that no matter how high bitcoin goes, you still have more value in your remaining BTC.
If you have BTC1,000 and you absolutely want to have the same number when it hits $million, then it is best to just bury the paper wallet into ground and wake up when you are a billionaire. Trading only makes you lose the most of it over time with no gain. But it is not healthy for anyone to suddenly become a billionaire.
If instead, you flex your Excel muscle and devise a plan to sell BTC900 in decreasing increments at exponentially rising price points, you will already be rich and well-established when bitcoin hits $1 million, and totally content with the idea that your remaining stash is still worth a cool $100M.
For me, Bitcoin is not an investment - it's immigration.If you have BTC1,000 and you absolutely want to have the same number when it hits $million, then it is best to just bury the paper wallet into ground and wake up when you are a billionaire. Trading only makes you lose the most of it over time with no gain. But it is not healthy for anyone to suddenly become a billionaire.
If instead, you flex your Excel muscle and devise a plan to sell BTC900 in decreasing increments at exponentially rising price points, you will already be rich and well-established when bitcoin hits $1 million, and totally content with the idea that your remaining stash is still worth a cool $100M.
Instead of being a fiat native who dabbles in Bitcoin, I'm now a Bitcoin native who only deals with fiat reluctantly, when it's unavoidable.
At the present time I pay for more than 50% of my monthly expenses with BTC and that percentage is trending up.
The great tech exit ... texit.
November 23, 2013, 03:31:00 AM
In other word, if BTC cannot be used as a real currency
Should I take a picture of me eating a meal cooked exclusively from ingredients produced by local farmers who accept Bitcoin? November 23, 2013, 03:28:51 AM
it usually makes sense
Bitcoin isn't usual.All it takes is one mistake when it moves against you and you've permanently ended up with half the BTC you could have owned if you'd have just held.
For most people, holding 100% of the initial amount is not a wise choice. It is good to diversify by selling into strength to account for the possibility of a black swan event in Bitcoin technology. This way you steadily accumulate also non-BTC assets, and can learn how to handle wealth. You sleep better and don't see dips in price as an opportunity to panic, but rather an opportunity to buy back if you really feel like so. The selling plan must be based on percentages, which means that no matter how high bitcoin goes, you still have more value in your remaining BTC.
If you have BTC1,000 and you absolutely want to have the same number when it hits $million, then it is best to just bury the paper wallet into ground and wake up when you are a billionaire. Trading only makes you lose the most of it over time with no gain. But it is not healthy for anyone to suddenly become a billionaire.
If instead, you flex your Excel muscle and devise a plan to sell BTC900 in decreasing increments at exponentially rising price points, you will already be rich and well-established when bitcoin hits $1 million, and totally content with the idea that your remaining stash is still worth a cool $100M.
That is incredibly sage advice and I just might take it. Really. Some people should read this carefully. You are absolutely right, being a billionaire overnight is not healthy. Not even being a millionaire overnight is healthy.
I've read it over at least a half a dozen times and I agree that it is useful.
I was a part of the 2011 tulip festival with Bitcoin and I sold a bit this month when it crashed to under 500. But my long-term goal is for 10 years. I believe it will be the best investment for that time period.
November 23, 2013, 03:28:32 AM
good grief...its relentless
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