Wow! Guys!
I've just calculated that I can now use my BTC to cover my living expenses for the next 127.2 years!
Should I quit my job?
This is tough shit.
Yeah but how are you calculating the value? based on $63k? Sure you might get lucky, but we should not be basing our fuck-you lever pulling planning on luck (not to bring up luck again, because luck might be a past appreciation rather than something that you anticipate as a given, especially "good" luck).
If you are using $63k or anything close to that, then that kind of framing would not be a good measure.. there are peeps here that you could ask about their experiences in doing that (I am not going to provide names).
Now if you are using some other kind of calculation, would be interesting to hear about it.
You know my measure, which is currently just over $11k and seems to be going up a few hundred every week.. so in no time, we should be supra $20k with that one.. I am sure that there are other less conservative measures, and I suppose that those could be used as well for guys who might be on the margins (or is it on the cusp? or on the threshold) of pulling the fuck you lever.. and not clear about if it would be too risky..
Also, is your 127.2 years accounting for medical?
By the way, any calculation that can go as far as 127.2 years, should also be able to have a built in function to figure out an amount (that might be slightly lower) that is perpetual.. meaning that you are ONLY living off of the passive income... of course, since all of us are mortal, we could have a kind of provision that ends up UPping the spending in what we project to be our last years of life in order to use up most or all of it - to the extent that we are not planning to pass on wealth.
By the way (II), even though I am using a calculator that only is currently giving me $11k per coin, right now, I am actually using 12% per year as an amount that I can withdraw based on that indicator rather than the traditional 4%.. so the low number is not as bad as it might seem, and it still gives me numbers that are quite great, even for my situation and projecting into the future.. I mean I already have income coming in that I am trying to surpass in order that I can start dipping into my corns.
Jay, and to the others who commented on my above quoted post:
This was a quick calculation based on $63k/BTC, but take into consideration that I'm not going to live another 127.2 years. A more realistic number would be 40 years, based on some standard life expectancy estimate. Doing the math & science on that, we end up with a more conservative Bitcoin valuation of about $20k/BTC. This is pretty close to where your 208-week moving average indicator is soon going to be, so I'm not too far off there, am I?
Actually, I am totally NOT against projecting ahead in a wee bit of a gambling kind of way that is still reasonable, and the 208 week moving average is likely going to be around $20k in about 3-6 months, of course if the BTC price moves up higher in a short period of time the 208-week moving average is going to move up quickly too.
I find something a bit disturbing about your locking in a timeline such as 127.2 or 40 years in regard to the perpetual withdrawal seems to be a much better notion. So, you likely already know the concept (this is for others - public thread, remember.), but you take the value of your BTC stash, and then you figure out your withdrawal rate of 4% in order to figure out a way to withdraw forever without dipping into principle.
So for example, if you believe that you can live off of $3,333 per month, then you acquire $1million in principle, which would be $1million * 4 % = $40k / 12 = $3,333.
So if you anticipate the BTC bottom to be $20k, then 50 BTC would be enough to generate, $3,333 in monthly income.
When I got into bitcoin in late 2013, I was thinking that $3,333 could be a reasonable starting point for a passive income salary, but now I am thinking at least double that.. and I know that some members (such as Biodom) have suggested around 6x that amount.
Each of us are going to come to differing calculations, and currently, I do prefer the 208-week moving average (withdrawing up to 12% based on such 208-week moving average), which ends up not requiring as much BTC to generate the same income. $333,333 x 12% = $40k. So, only 30.3 BTC are required at $11k to add up to $333,333 in value.
My calculation was only meant as a semi-joke, which was sparked by a meeting we had today at work, where I disagreed on a few things, and almost threw a "fuck you" on the table, thanks to King Daddy.
Of course, we all know that we would not want to pull the fuck you lever until we are actually confident that we are actually ready.. so on our own terms.
No, my calculation does not include medical. My government will provide it once I reach a certain age, but not earlier (if I'm unemployed), which is an important factor to consider.
Gosh.. hopefully it is not an all or nothing thing that requires (causes) you to be a slave until your eligible age.
No, I'm not planning to quit my job just yet, but the fact that I can do it gives me peace of mind and enables me to handle things better and to my advantage.
Of course we know that bitcoin gives more options, but sounds like medical could still be a bit of an issue for you.
