Quote from: bkbirge on September 17, 2019, 04:19:44 PM

Quote from: JayJuanGee on September 17, 2019, 03:15:46 PM

Anyhow, I had done a decent amount of accumulating of BTC in 2014 and brought my average BTC price down from $1k to below $400, and I also made some mistakes including getting hacked through sim porting, which moved my average price per BTC up to $750-ish. I have also lost some BTC on exchanges such as WEX (used to be BTC-E), so I consider those to be risks of the practice and probably, I should have taken more value off of that exchange while the getting was good.... but these days, I probably would consider my average cost per BTC to be somewhere above $750 but still in the three digits.

+WO merit since I'm out of the regular, thanks for sharing your story. I had a coworker that introduced me to it maybe in 2014 or so but I didn't understand the draw, at the time it seemed overly complicated for no benefit and I wasn't looking at it as an investment vehicle just as an interesting technology. Mid 2017 I got in, shortly before the big run and that made me think I'm a genius rather than just lucky and I evangelized to my family and friends. Some of my family bought in then of course at the high. They are still holding though they haven't added to their positions, whereas I've been faithfully DCA'ing ever since. My amounts and entry point mean I probably won't become personally life-changing wealthy but I'm hopeful it will accent my retirement and provide some easing through life's ups and downs for my kid. I tend to look at it as an inter generational wealth opportunity. Though I'm a confirmed hodler I have several dream benchmark levels to encourage myself...
1. mortgage payoff
2. retirement at 80% of current lifestyle level
3. retirement at 120% of current lifestyle level
4. kid's entire college tuition
5. kid's entire college tuition at a top tier school through grad school
6. retirement at 120% level before I hit actual retirement age
7. medical emergency care fund equivalent to 2x mortgage payoff
8. being able to do the same for my family
9. own first hotel on the lunar surface

I really like your customized tiering of goals that seems to recognize that you are investing in possibilities that may or may not be achieved, and actually it might not even hurt to have lower level goals too, in terms of accumulation levels, etc etc etc.

I am not asserting that you don't have lower level goals, as well, but just mentioning that for other readers here who might benefit from considering ways to create lower level goals that can also help to show them, on a personal level, that they are making progress in their preferred direction. For the most part, wealth does not come all at once, but it comes gradually, and maybe even at some point, if you are preparing and preparing and preparing, you may end up in a position in which you actually get lucky and generate a whole hell of a lot more wealth (and more quickly) than you had expected (which is kind of what happened with me, in bitcoin).

So, yeah, I recognize also, and probably you do too, that maybe you will not achieve the differing level goals, but it is good to have them, including relatively high ones, and also to, perhaps, tweak them along the way to make higher goals and/or goals that fall between ones that you had established earlier.