Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
JayJuanGee
on 24/07/2018, 23:46:12 UTC
Fine... but we are still poor.


I hate to set my expectations too high.

Maybe poor was around $200, and then just making it was around $600, and feeling pretty good was around $1,000.

Above $1k are just relative variations of well off  merging into lower levels of rich and then higher levels of rich that come from $10k and above.. perhaps approaching fuck you rich at $100k and filthy rich at $1million?

The single most important level of richness is reaching a solid "fuck you money". Below that it's just "still poor" and above is "still rich". Yeah, $100k (per BTC) would be enough "fuck you money" for me.

O.k.... that's fair enough, and it seems that the levels are different for different people, even though we may have been into bitcoin for similar amounts of time.

So I was considering that perhaps there were quite a few folks whose BTC holdings were kind of in the hole when prices were below $500, and then as prices raised above that level, then your BTC holdings were profitable and became more and more profitable as far as the BTC price going up. 

Another thing that I was considering was that traditional investments could reliably return 4% to 12% annually, if you engaged in a kind of sound investing, so if you are achieving BTC returns that squash those traditional returns, then in the end you will be doing very well.. and surely more well the higher the BTC price, and kind of assuming that the value of your overall BTC portfolio is going up, even if you screw up a bit here and there in terms of losing some of it.

But, I also understand that depending upon the amount of your initial principle investment (which includes any additional amount that you might add on the way up), you may require greater returns if the principle was lower.  So, some people are doing quite well with 10x returns while others might require 100x returns to do well and then even greater returns to get into the "fuck you" territory.  Actually one level of fuck you is just having enough money to be able to support yourself without having to work again, so therefore you can say "fuck you" to any terms of employment that you do not like, and another (higher) level of fuck you is being able to flaunt your wealth or to have a kind of freedom to spend freely without having to really account for your income going down...

so, depending on your cost of living, maybe baby fuck you would be in the lower millions of dollars, and then $3-$5 million in the first world to be able to live off of the money, but bigger levels of fuck you are in the $30 million plus territory... but if you live in an area of the world with a lower cost of living, you might be able to accomplish a decent amount of extra fuck you with less than $10million dollars of  wealth.

Those were more of less the parameters of some of my assumptions.. and understandably will vary from personal circumstances, such as if you believe that you need a yacht in order to have "fuck you" status.

Not setting any expectations or making any prediction.... just telling how things are.

Of course I am happy with current price rise, would be very happy with $10k+ and would start jumping around like a mad kangaroo above $20k.

I am happy with all of this, and including if the price were to get stuck below $10k for an extended period of time, but of course, the more the price goes up, the greater it is to just go a bit wild with the extra wealth that flows in my direction... like an unexpected gift (that was a little bit expected because you peaked under the wrappers when your parents weren't home ... hahahahahahah)....


Yeah, I am aware many people here are already "filthy rich" so, in the end, I guess I am just kind of joking when I say "we". Smiley

EXACTAmente... there are various levels of "we"    Wink Wink