So has anyone here actually treated themselves to anything after passing an arbitrary milestone?
Not yet. OTOH, my daughter asked me to walk her through my 'laddered day trading' strategy for monetizing the volatility. She's been sitting on her BTC for just shy of four years now. I guess she's ready.
Well, you going to share some kind of outline of that overall strategy with us (in it's current iteration and how it might vary for your daughter, who likely has a smaller BTC/fiat stash), or is your overall strategy a secret to pass only on to family members?
Oh hell, JJG. It's not secret. In fact, I've divulged it here before*. And indeed, to the extent that you have revealed yours, I think it is largely the same strategy.
*I've couched it in terms of 'taking value in fiat', in a means that plays off the volatility, that sometimes nets you even more BTC than before starting to pull out fiat value. Either way, maximizes your possible net. Maybe a month or two ago. Let me know if you need me to drag it out again. Though I distinctly remember you commenting upon at at the time.
The important point is daughter is now interested enough to try to absorb it. I find this an excellent development, as dinner table discussion between the Mrs. and me has transitioned from 'what do you want to do now that we have all this money'? to 'what is the most responsible way to handle dynastic wealth'?
Really the only variable for a smaller owner is using smaller amounts. Everything scales to holdings. I'll simplify to BTC only, and only on GDAX (where makers pay 0%). At least at first. The
strategy -- such as it is -- is applicable to other scenarios, perhaps with additional complications.
We're divided by a 45 minute drive and infrequent emails & phone. She really needs a full intro. I figure it'll be a written manual, plus live demo when we can get together. First installment written and sent, but that is really an overview of available data that a trader might need. I'll post it if you want, but it is likely remedial for Bitcoin wall watchers, and only covers background info. Next installment will be an exchange overview, then third likely the method itself.