Remember when the goal was to get 21BTC, which surely would put any of those folks who had been able to HODL onto that amount as being in a very decent position at $100k per coin, and now there are a lot of meme-ing around the random 6.15BTC goal, which seems to rely on BTC going much higher than $100k per coin in order to really be comfortable.
I guess that part of my point is that amount of BTC goals are going down and down and down. Of course, we have those who are either with a mediocre budget or are just getting in striving to get to 1BTC and more. There have surely been some of those folks participating in this thread. At some point, we are going to have peeps aspiring to get 1 million satoshis... or whatever other reasonable amount becomes our new deflationary goalpost point.
Oh man, how I love this post!
Thanks JJG!
That's a moving target. I just looked at official inflation numbers and it is a woozy.
Basically, dollar lost about 50% in relative value since 30 years ago, therefore, to be "comfortable" in the future you need to take this into consideration, but it is very difficult to do since, historically, forward inflation values were not very predictable.
Even in 2015, there were some folks lingering and trying to reach three digit bitcoins, but it became much more reachable, even for regular people to attempt to accumulate 21 bitcoins... three digits became a bit out of reach.
Yet as BTC's price went up, and then failed to really come back down below $3k, and even only stayed below $4k for a few months, 21BTC became much more unreachable by regular people.
I think that now, we have people who are trying to get seriously into accumulation either shooting for 1 BTC or the 6.15 BTC.
I hate to look through my old posts regarding myself personally, yet many times, I would take about accumulation goals in terms of what might be reasonable based on evolving prices. Frequently, also I would talk about some kind of reasonable BTC buying budget in terms of dollars, and then of course that would convert into a quantity of BTC, even while only rarely does someone say, I have $12k to spend over 6 months or something like that. $12k is a nice number because it is quite divisible and to be able to attempt to stay with round numbers when suggesting what to do.
Sometimes we also realize the large number of people who do not even have their financial lives together sufficiently enough to even be able to afford some trivial amount of emergency expense, like $400. I personally believe that those people should NOT be investing into bitcoin until they first get their finances in sufficient order so that they are prepared for at least a $400 expense and also have their cashflow projections in sufficient enough order in order to project how much cash they have in reserves for a minimum of 6 months. You can get away with a shorter period of projecting your expenses if you are single and if you do not complicated expenses, but as soon as you add in a family or a business or some other payments such as a house or a car payment and other things like that, then you have to project out further - 18months or more.
Of course, the shorter the time out from the present, then you are going to be more accurate with your cash projections, and the further out that you go, the cashflow projections are going to serve as outlines, and surely the more specific that you can be in projecting, including projecting an ongoing cashflow cushion then the more accurate you are going to be and the fewer surprises that you are going to have, even if you run into some emergencies along the way.
Once all that is in place, then you can add you bitcoin buying/accumulation budget into the mix... which then you decide what are your tentative BTC accumulation goals in 6 months? one year? two years? five years? Gotta walk before you run, and even consider that some goals are going to be harder to reach than others and certain goals are going to be reasonable and prudent... Do you involve gambling in your goal creation? I hope not. Not until you reach a certain stash, then maybe, thereafter, you can establish a side gambling stash.
