Quote from: vapourminer on January 27, 2020, 02:09:08 PM

Quote from: Searing on January 27, 2020, 02:48:26 AM

[...] every BTC I've ever spent has come back to haunt my ass. Panic'd like a small 9-year-old girl (with screams) when I sold 13 BTC last year on

12/24/19 when BTC was $3,965.00 USD. Groan! I managed to thru dumb luck equipment sales and such to get back 4 BTC from such. But it really sucks. So yeah, its a gift, my

ability to sell at the wrong time or get 'dubious' ASIC equipment. The above wallet is NOT my hoard however, just what was emptied to add to such Hoard in 1 address.

[...]

shriek like a 9-year-old yet again). Rinse/Wash/Repeat. As you can see my 'strategy' is very sophisticated, don't ya know.

So like 5 out of 5 selling BTC at the wrong time and never to recover vs HODL mode (soothing). So yeah, I got 'issues' with BTC your merciless bitch!

heh yeah the 1st time panic mode kicks in.. welcome to the show.

ive never panic sold btc but, like you, ive sorta "panic bought" things, which is basically the same. of course in 2011-2013 or so there was a lot less confidence in btc so the ability to turn majick internetz money into real stuff was an easy sell.

ive looked up my prev mining addys when i gpu mined btc as i wanted to sign messages saying those addys were mine for various purposes if needed. cringworthy is an understatement as to the amount btc that i mined. ive got a small fraction left, and thats all that matters. its a win in my book. no regerts.

TL;DR: HODL is the best stratagy.

I guess you and Searing share the factor that you were earning some of your income in BTC rather than in fiat, so one thing that puts any BTC earner in the lead of a fiat earner is that s/he is forced to consider his/her HODL strategy ... or allocation regarding what is the ratio of BTC to fiat. So, there is an implied knowledge of BTC, and a likely conscious measure regarding how much of that value needs to be treated like a longer term investment versus used for daily living expenses.

So many times, we run across situations in which people are living in a way that is way too close to their income, so they do not have any more room for investment, so if your income is in BTC, and if you are in that spending a lot of value situation, then you are likely going to have to cash out most of your BTC.

So the forced consideration regarding whether you are living well within your means or NOT becomes the bigger, question, and I would not conclude that the mere fact that you went through a lot of BTC would be a sign of your being irresponsible, especially if you are getting paid in BTC (that is mining). That is true with any business. You would likely be fucked, if you had a business but people made you feel guilty if you spent money that you earned from the business, because the ONLY way that you can NOT spend money from your business to keep the business going is to have another business or source of income that covers the expenses of the business.

Earning money in BTC forces the investment versus spending idea, and none of us are going to get rich from BTC if we do not first have a plan that pretty much restrains us in terms of living within our means. Yeah, if we have a few hundred thousand of income per year, we are less likely to feel restrained in our living choices than someone who might only have $10k or $20k in income per year.

I appreciate that people with real high standards of living from the start and even high income that have been spoon fed to them from their parents or some other lucky source can also screw up these kinds of wealth preservation matters if they live beyond their income source and might not recognize the extent to which mommy/daddy is going to cut them off or other ways that their income might end up drying up, even if we might say that they won their fortunes in a lottery or some other fortunate situation such as being able to sell a successful business and to have a lot of proceed from such sale that they are able to work with.

Even landing a good job and that "good job" could end up NOT having a long term income, and I suppose some shitcoiners might have discovered some of the shitty aspects of getting involved in those shitcoins, even if some of the skills might be transferrable and they might not have squandered away their credibility, in the event that some projects might NOT help people in terms of building their credibility in the space... in order to ensure future income with skills that have been learned in the space.