hodel is all good, but I suppose at our age, and at some point, you gotta start thinking...you can't take it with you.
Cold storage.
Cold Dead Hands?
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 6868. (Read 26713463 times)
November 05, 2020, 12:50:17 AM
hodel is all good, but I suppose at our age, and at some point, you gotta start thinking...you can't take it with you.
Cold storage.
Cold Dead Hands?
November 05, 2020, 12:44:32 AM
hodel is all good, but I suppose at our age, and at some point, you gotta start thinking...you can't take it with you.
Cold storage.
November 04, 2020, 11:59:40 PM
technology adoption always follows a s-curve. the beginning is flat, then it becomes exponential (looks like a hockey stick) and when mass adoption occurs it shoots straight up and only starts flattening when saturated (widely adopted).
when the new tech is money the graph not only shows the adoption of users but also the value of the money.
when rockets are fired up to reach space they need to carry enough energy to overcome earths gravity. they need to acquire escape velocity. if they don't get over this threshold they could not leave earth.
bitcoin expands in short violent run-ups followed by years of loss of value and consolidation. this circular pattern conditions bitcoin hodlers to feel bad about "not selling at the top" in order to own a lot of cash and furthermore to later buy back more bitcoin, when price reached the bottom of the cycle.
especially when reaching "life changing" or "fuck you" amounts of money. especially when the hodler realizes that he/she could have escaped the rat race with that amount of fiat. since the bear markets are usually multi year, the hodler has plenty of time to develop this regret.
it feels bad to look back to previous all-time highs and punching the numbers in a calculator and figuring out how many btc one could have bought if and only if... but be aware that there is another feeling that is even worse: having sold to early. remember all the posts in this forum where folks argued about how rational it was to take profits and sell btc for $20. or $200 or $2000
during one of the next giant run-ups bitcoin will reach escape velocity. which means the old game of multiyear bears will not occur anymore. bitcoin will enter the steep upward phase of the s-curve.
don't be a multiyear hardened btc hodler that finally learned how to sell at an anticipated local top only to see the price never coming back. develop a strategy to avoid this worst possible outcome: a bitcoin hodler with zero bitcoin in that moment of history when bitcoin is winning. with strategy I don't mean some weird trading strategy. trading btc is a losing game for 99% of players.
the only way to make sure you always have some bitcoin is to always keep some/most bitcoin.
my own strategy is very simple: when bitcoin reaches escape velocity I want to still own at least 50% of my stash. in my mind half my stash is reserved for my descendants. they are in Uber-cold storage. I will never touch them. I will never punch them in any calculator to figure out momentary fiat value.
with the other half I may or may not try to play the "sell at top" game. not convinced yet since all I would get for my precious btc is lots of melting dirty fiat. problem is that this is the only way ever for me to acquire more btc. maybe I should only play that game with a quarter of my stash.
what is your plan?
edited
when the new tech is money the graph not only shows the adoption of users but also the value of the money.
when rockets are fired up to reach space they need to carry enough energy to overcome earths gravity. they need to acquire escape velocity. if they don't get over this threshold they could not leave earth.
bitcoin expands in short violent run-ups followed by years of loss of value and consolidation. this circular pattern conditions bitcoin hodlers to feel bad about "not selling at the top" in order to own a lot of cash and furthermore to later buy back more bitcoin, when price reached the bottom of the cycle.
especially when reaching "life changing" or "fuck you" amounts of money. especially when the hodler realizes that he/she could have escaped the rat race with that amount of fiat. since the bear markets are usually multi year, the hodler has plenty of time to develop this regret.
it feels bad to look back to previous all-time highs and punching the numbers in a calculator and figuring out how many btc one could have bought if and only if... but be aware that there is another feeling that is even worse: having sold to early. remember all the posts in this forum where folks argued about how rational it was to take profits and sell btc for $20. or $200 or $2000
during one of the next giant run-ups bitcoin will reach escape velocity. which means the old game of multiyear bears will not occur anymore. bitcoin will enter the steep upward phase of the s-curve.
don't be a multiyear hardened btc hodler that finally learned how to sell at an anticipated local top only to see the price never coming back. develop a strategy to avoid this worst possible outcome: a bitcoin hodler with zero bitcoin in that moment of history when bitcoin is winning. with strategy I don't mean some weird trading strategy. trading btc is a losing game for 99% of players.
the only way to make sure you always have some bitcoin is to always keep some/most bitcoin.
my own strategy is very simple: when bitcoin reaches escape velocity I want to still own at least 50% of my stash. in my mind half my stash is reserved for my descendants. they are in Uber-cold storage. I will never touch them. I will never punch them in any calculator to figure out momentary fiat value.
with the other half I may or may not try to play the "sell at top" game. not convinced yet since all I would get for my precious btc is lots of melting dirty fiat. problem is that this is the only way ever for me to acquire more btc. maybe I should only play that game with a quarter of my stash.
what is your plan?
edited
Of course, I don't know your situation with any kind of precision, but you could still be quite well off without even selling close to 50 % of your BTC stash... Just cash out BTC from time to time whenever you might need it, and I suppose it is better if you do not have highfalutin tastes.
I maintain a spreadsheet that I adjust from time to time based on price movements and changes to the actual quantities of my BTC stash. Sure of course, I had to make some BIGGER adjustments to the projections based on some incidental and unintended losing of BTC along the way... but still, even my projection out to nearly 1.5 million still shows that under my current tentative plan, I would still retain nearly 82% of the quantity of BTC that I hold today... and that is kind of presuming that the BTC price shoots straight up.. which, it likely will not.
Sure, it also presumes that I won't lose anymore which is not exactly a sure thing or that I won't shave some extra BTC off the top along the way - but even from the numbers that I am showing, I don't really see any need to be shaving extra off the top... but maybe I just have to learn to live richer and blow some BTC on higher level luxury goods.
I think that the point that I am making is that there does not seem to be needs to sell high quantity of BTC in order to live quite well and that should be especially true with BTC HODLers that have been in the game longer and especially true if BTC does anything close to its earlier escape velocity performances.. ONLY needs to be a fraction and still cause a lot of longer term HODLers to become quite richie without any major needs to cash out large portions of their BTC stashes... my thinkening..
what is your plan?
Of course, if you have not been into BTC for very long, then it takes longer to build the stash... So you have to keep building your stash, and then at some point you will likely realize that your stash has been built enough.
November 04, 2020, 11:27:43 PM
SN8 cryo header tank test completed 15km flight next couple days maybe?
--------
re last hour
#dyor
#stronghands
--------
re last hour
#dyor
#stronghands
November 04, 2020, 11:19:59 PM
Nice little pump there.
Passing AUD$20,000 on local exchanges.
Passing AUD$20,000 on local exchanges.
Yeah that put a smile on my face too
November 04, 2020, 10:34:55 PM
Nice little pump there.
Passing AUD$20,000 on local exchanges.
Passing AUD$20,000 on local exchanges.
November 04, 2020, 10:32:34 PM
new yearly high at $14,328.00 gentlemen
[snip]
[snip]
That is sooo last hour, Toxic!
November 04, 2020, 10:15:09 PM
Last 15 days
2020-10-21 12,584
2020-10-22 12,963
2020-10-23 12,914
2020-10-24 13,053
2020-10-25 13,077
2020-10-26 13,063
2020-10-27 13,446
2020-10-28 13,372
2020-10-29 13,321
2020-10-30 13,406
2020-10-31 13,766
2020-11-01 13,762
2020-11-02 13,545
2020-11-03 13,632
2020-11-04 13,908
note pulled info from here
https://bitcointalksearch.org/topic/m.55488187
as I noted in an earlier post { https://bitcointalksearch.org/topic/m.55491561 }
the best streak of above 12,584
was from 2017-12-06 to 2018-01-15 that was 41 days
so 15 down and 26 to go.
This will be a really nice streak to break.
If we stay hot we break the streak on Dec. 2, 2020
so 2020-12-02 here we come.
2020-10-21 12,584
2020-10-22 12,963
2020-10-23 12,914
2020-10-24 13,053
2020-10-25 13,077
2020-10-26 13,063
2020-10-27 13,446
2020-10-28 13,372
2020-10-29 13,321
2020-10-30 13,406
2020-10-31 13,766
2020-11-01 13,762
2020-11-02 13,545
2020-11-03 13,632
2020-11-04 13,908
note pulled info from here
https://bitcointalksearch.org/topic/m.55488187
as I noted in an earlier post { https://bitcointalksearch.org/topic/m.55491561 }
the best streak of above 12,584
was from 2017-12-06 to 2018-01-15 that was 41 days
so 15 down and 26 to go.
This will be a really nice streak to break.
If we stay hot we break the streak on Dec. 2, 2020
so 2020-12-02 here we come.
Perhaps the obvious eludes me; what is the significance of 12,584?
November 04, 2020, 10:08:21 PM
Last 15 days
2020-10-21 12,584
2020-10-22 12,963
2020-10-23 12,914
2020-10-24 13,053
2020-10-25 13,077
2020-10-26 13,063
2020-10-27 13,446
2020-10-28 13,372
2020-10-29 13,321
2020-10-30 13,406
2020-10-31 13,766
2020-11-01 13,762
2020-11-02 13,545
2020-11-03 13,632
2020-11-04 13,908
note pulled info from here
https://bitcointalksearch.org/topic/m.55488187
as I noted in an earlier post { https://bitcointalksearch.org/topic/m.55491561 }
the best streak of above 12,584
was from 2017-12-06 to 2018-01-15 that was 41 days
so 15 down and 26 to go.
This will be a really nice streak to break.
If we stay hot we break the streak on Dec. 2, 2020
so 2020-12-02 here we come.
2020-10-21 12,584
2020-10-22 12,963
2020-10-23 12,914
2020-10-24 13,053
2020-10-25 13,077
2020-10-26 13,063
2020-10-27 13,446
2020-10-28 13,372
2020-10-29 13,321
2020-10-30 13,406
2020-10-31 13,766
2020-11-01 13,762
2020-11-02 13,545
2020-11-03 13,632
2020-11-04 13,908
note pulled info from here
https://bitcointalksearch.org/topic/m.55488187
as I noted in an earlier post { https://bitcointalksearch.org/topic/m.55491561 }
the best streak of above 12,584
was from 2017-12-06 to 2018-01-15 that was 41 days
so 15 down and 26 to go.
This will be a really nice streak to break.
If we stay hot we break the streak on Dec. 2, 2020
so 2020-12-02 here we come.
November 04, 2020, 09:57:02 PM
Hm. I built up a bit of a cash reserve this year so I don't have any need to sell bitcoins at this time. Depending on how things go I might pump some cash into LTC and transfer it to bitcoin (less fees) to burn the cash reserve down a bit.
November 04, 2020, 09:39:06 PM
new yearly high at $14,328.00 gentlemen
#dyor
4h
kitteh climbs on shoulder for a kiss
D
#stronghands
#dyor
4h
kitteh climbs on shoulder for a kiss
D
#stronghands
November 04, 2020, 08:19:37 PM
Lot of offsets.
9700 in gear is an offset.
9700 in gear is an offset.
November 04, 2020, 08:15:12 PM
I moved the 4200 worth of btc I earned Since July 1 to coinbase. And selling it off in 200 usd pieces. As price goes up.
Those short term gains tax penalty, tho...
most of it goes to income and taxed as this in his case anyway, probably (since it was mined).
cap gains are only on the difference between at what price btc was when he mined it and the sell price.
I don't know US tax law, but it is a business (mining) so may be some benefits to offset there too.
November 04, 2020, 08:10:50 PM
I moved the 4200 worth of btc I earned Since July 1 to coinbase. And selling it off in 200 usd pieces. As price goes up.
Those short term gains tax penalty, tho...
most of it goes to income and taxed as this in his case anyway, probably (since it was mined).
cap gains are only on the difference between at what price btc was when he mined it and the sell price.
November 04, 2020, 08:05:45 PM
I moved the 4200 worth of btc I earned Since July 1 to coinbase. And selling it off in 200 usd pieces. As price goes up.
Those short term gains tax penalty, tho...
November 04, 2020, 08:05:11 PM
hodel is all good, but I suppose at our age, and at some point, you gotta start thinking...you can't take it with you.
By all means enjoy your coins. Just don't sell them for no reason (e.g. because of the price) and keep fiat currencies.
Want a new house? Sell just enough to buy one. Want to take a holiday? Ditto. Hookers, blow and Lambos your thing? Go nuts. Just keep as much of your wealth in Bitcoin as possible.
In the meantime, buy more coins whenever you can. Got a few grand left over after your holiday or hookers/blow/Lambo spree? Put it back into Bitcoin.
It's easy.
+5 WO sMerit
Depending on your situation, I advocate 1-5yr living expenses (harvested above 5x previous cycle ATH, preferably) in dirty fiat (assuming no other income source) Otherwise, leave it in.
November 04, 2020, 07:57:03 PM
hodel is all good, but I suppose at our age, and at some point, you gotta start thinking...you can't take it with you.
By all means enjoy your coins. Just don't sell them for no reason (e.g. because of the price) and keep fiat currencies.
Want a new house? Sell just enough to buy one. Want to take a holiday? Ditto. Hookers, blow and Lambos your thing? Go nuts. Just keep as much of your wealth in Bitcoin as possible.
In the meantime, buy more coins whenever you can. Got a few grand left over after your holiday or hookers/blow/Lambo spree? Put it back into Bitcoin.
It's easy.
I am laughing out loud.
hookers,blow,Lambo spree.
Btc could go to 20,000,000 overnight and I would not be spending on that.
I would get a new house with a large barn to put the mining gear in.
I spent 9700 on paypal credit buying mining gear. In July-Aug.
It is a way to get btc with paypal on credit.
I mined and held. In July Aug Sept Oct.
I moved the 4200 worth of btc I earned Since July 1 to coinbase. And selling it off in 200 usd pieces. As price goes up.
As I sell some off I am still earning coins.
It is more my mining side I am talking about. I usually mine and hodl wait for a nice uptick and sell pieces slowly.
Other hodl moves are just this hodl.
November 04, 2020, 07:52:33 PM
hodel is all good, but I suppose at our age, and at some point, you gotta start thinking...you can't take it with you.
By all means enjoy your coins. Just don't sell them for no reason (e.g. because of the price) and keep fiat currencies.
Want a new house? Sell just enough to buy one. Want to take a holiday? Ditto. Hookers, blow and Lambos your thing? Go nuts. Just keep as much of your wealth in Bitcoin as possible.
In the meantime, buy more coins whenever you can. Got a few grand left over after your holiday or hookers/blow/Lambo spree? Put it back into Bitcoin.
It's easy.
November 04, 2020, 07:40:56 PM
I don't know if you've sold yet...
No. Nap time and screaming headache achievement unlocked, however.
Probably gonna wait a bit longer and see what happens with price. If it dips back below $14k, I'll probably pull my coins back to avoid doing anything too stupid.
Finger is figuratively on the trigger for the time being. Just don't have the nerve to pull, yet.
I don't feel too bad selling a chunk above $14k USD/BTC, but recognize the decision is partly fueled by negative emotions, so, having trouble reconciling the situation in my mind.
feelsbadman.gif
November 04, 2020, 07:31:07 PM
Look the dems are the green party so biden will make it rain green.
Frankly the aliens will come soon and show us whom is really in charge so have fun while you can.
I sold a bit at 14050
Next sale is 14500+
Then 15000+
Would love to imagine your face once we hit $20k Frankly the aliens will come soon and show us whom is really in charge so have fun while you can.
I sold a bit at 14050
Next sale is 14500+
Then 15000+
I can sell small pieces at
14050
14500
15000
16000
17000
18000
19000
20000
21000
22000
At 22000 I will reconsider what I do. With what I have left.
And how much to sell at 220000 ?
If we reach 220,000 I enough.
Remember my coins are %50 in price that you pay at an exchange.
My problem is I earn x coins of BTC a year at 50% off.
Not 10x coins of BTC a year.
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