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Quote from: Heater on March 17, 2021, 09:53:53 PM

I have offically joined the ranks of retired WO gentleman. Working just seems kinda pointless

Quote from: siggy_77 on March 18, 2021, 01:49:55 AM

I think this might be becoming a thing... my last day is April 2nd.. officially retiring early. Sold a smallish chunk to diversify so that if we have an 80% crash, I can ride it out without selling the dip... but yeah.. mostly the same plan. good feelings

Quote from: YourMother on March 18, 2021, 01:43:44 PM

8+ years later I'm retired with a close to double-digit $million fortune. What an incredible experience it's been.

Congratulations to all of you.

This could be an interesting poll -- who of us has retired thanks to bitcoin?

It's not my time......yet! too small of a fish.

Don't want to get into any of your specifics or your OPsec, but $50 per week for 7 years would have put relatively "small fish(es)" into a decent place... - nearly 22 bitcoin and a value of nearly $1.3 million - with "ONLY" about a $18.5k investment spread over 7 years.

There could have been a problem with anyone to attempt to be consistent in such investing into BTC over the years and even having some sense of frontloading the investment stake could have caused the BTC accumulation levels to become MOAR higher than those listed in the above linkening... and another thing would have been NOT getting shaken from coins at various points along the way - or temptations to sell some of dee lil fiends to try to accumulate more coins and take those selling actions at the wrong time or failing to buy at the right time (getting too greedy or to smart).

Another thing, as we have been discussing is trying to figure out how much is enough coins based on a variety of factors including ongoing volatility and expected volatility - and maybe another doubling or tripling of value could help... which does seem reasonably reachable within this cycle (odds of such may be approaching 30% or greater? I know some peeps are putting odds of another 2x or 3x or even 5-20x this cycle at greater probabilities than I am assigning, but hey, I really hate counting any chickens before they are hatched - even though I am NOT at all in any kind of disagreement about either the asymmetric nature of the bitcoin bet or that the odds for having "great" upside performance in bitcoin seems to be way higher than any other asset that I can imagine investing into at this time).

I can't be consistent about brushing my teeth, let alone investing $50 per week or whatever over 7 years.

Hahahaha

These are the kinds of thingies that we attempt to learn as we grow our lil selfies UPpity.

In other words, we have capacities to learn practices to discipline ourselves to engage in behaviors that are better for ourselves in the longer term rather than the short term.. like waiting for the two marshmellows rather than eating the one right away.. It is also called delayed gratification in some circles.

I was thinking about another point, too, in terms of someone who may have been able to accumulate somewhere in the ballpark of 20BTC over the last 7 years or more. Sure, $1 million-ish could generate a passive income of around $3,333 per month if BTC is able to keep its $50k plus value, but it would be difficult to feel assured about that... and gosh, would $3,333 per month be enough. Frequently, I have argued that it is, especially with a passive income kind of thinking - in terms of NOT having to work but to be able to withdraw that amount every month.

Surely, a more solid grounding would be to use the 208-week moving average which is currently at about $10k, and going up close to $200 per week.

I am considering kinds of BTC price projection plans and some projects that might get put into a trust or something, but then if we currently use 100 BTC to assess the value at $1million, maybe it would still be prudent to withdraw at 10% per year in such a system and to also maybe have a 2% per year fee going to the trust administrator. That would be $8,333 per month going to the beneficiary (which is ($1million x 10%) / 12 months) and $1,667 per month going to the administrator (which is ($1million x 2%) / 12 months)... Of course there is a total of $10k passive income being generated at these levels, so if the income requirements are much less, then the size of the stash would then be much less, and currently a stash that is 1/3 the size would end up generating a $3,333 monthly income - which would be $10k (208k weekly MA price) x 33 BTC = $333,333k BTC stash value x 12% (allowed withdrawal rate per year - $40k) / 12 months.

Just playing around with some of these ideas and use of a 100 BTC stash, a trust and considering creating a separate thread on the topic at some point... and surely, I do consider the 208-week moving average to continue to go up at a decent pace in the coming years.. but if there were a kind of program that were to be created using those kinds of evaluations could be quite interesting for some of us trying to figure out what to do with some of our BTC stash (and the likely value that could be generated from such on a regular and ongoing basis).