Quote from: ImThour on Today at 11:04:57 AM

If government clears out all the FUD and make it a clean way, I am sure this value of investment will be x10 the current investment in Crypto.

Looks like nearly pure gobbledy gook to me, is there any connection with the topic of this thread? Not even a link to verify if the underlying might relate to this thread, perhaps?

Quote from: vapourminer on Today at 01:48:42 PM

Quote from: Dabs on Today at 12:18:55 PM

Quote from: vapourminer on Today at 10:56:27 AM

i have kept as much as 3 years worth at the current burn rate (that burn rate does not include traditional regular income from ETF etc) on fiat in there. plus the regular burn rate is in large part covered my my tradition stuff.. 401s, etf, stocks, so even if btc crated tomorrow i *should* bbe set.

The "standard" that is often recommended is 3 to 6 months of current burn rate. For your fiat or cash emergency fund.

Interesting that you have 3 years. Although I have read about one traditional early retiree (or maybe he isn't retired yet), that claims he has 7 years worth as his emergency fund. I think that is too much, but hey, that's his comfort and safety level, and good on him for that.

Considering the bitcoin cycles, I'd say 3 years is good, 4 years might be better, but beyond that might be wasting your money unless you have more than you really need.

I mean, if that guy loses all income for 7 years, he should be good, and still have his capital or other investments intact.

1st my wife and i are retired so that may change ones definition of "emergency." i retired many years earlier than even my most optimistic goal. it allowed my wife to take an early one too but the years early for her were not as much as mine due to reasons. anyway thank you bitcoint.

i wouldnt really mind 4 years of emergency money (ie separate from any saving account one may have, as i said emergency money is not used for TVs new computers toys etc. its there for, well, emergencies that could serious fuck up your future.

but i settled on three because i have enough passive income through traditional stuff that it takes a load off what i need in the emergency fund.

three years even in a bear market will allow some halfway decent price point to be waited for selling if i need to (yes less of course) as i would have plenty of time to sell what was needed before it gets really low (like a local bottom). being able to watch an 80% drop and just wait it out because i know i can wait for a somewhat decent price (as opposed to a mindrust price but no guarantees of course) helps me sleep at night.

I like this topic because there can be some several objective ways of considering the matter in terms of how prepared any of us might need to be for cashflows completely drying up or needing to tap into bitcoin because other cashflows had dried up.

Of course, how many of those cashflows are going to dry up and then just leave you with bitcoin ONLY? And, if you know that they are drying up, do they dry up immediately or do they give you some lead time? Of course, all of us know that if we have been living at a certain standard of living that might already be in a kind of lavish "fuck you" level, we could potentially cut back to 50% of our current standard of living, but we might be more accepting of just cutting back 25% for a period of time.

If we are in a practice of keeping a 3-year reserve, and then some BIG emergency situation happens, sure we could start to dig into the 3-year reserve, but we might scramble in terms of other sources first and to maintain the 3-year reserves, so even though during such emergency, we are spending from various other sources in higher ways and even attempting to cut back on our other potentially lavish (excess) consumption, we might still be trying to preserve or maintain our 3-year reserve in order that we are trying to be prepared in the event that another emergency comes in the midst of the earlier one. For sure emergencies do not come as singles, do they? They are either pairs or triplets, no?

Another good thing about holding a variety of different kinds of assets - (For sure, I am not referring to diversifying into shitcoins) - is that you might not even realize the various loops to be jumped through in order to actually put those assets to work in terms of liquidation and how liquid that they might be and surely with a variety of untapped and quasi-illiquid assets end up becoming liquid and maybe more preferably liquid.. even though (as you already suggested vapourminer) maybe bitcoin could have ended up being the more plausible of liquid assets because it is known to be liquid, but the three year cash reserves ends up allowing you to chose your time for liquidation and even which asset to liquidate before running out of that emergency fund in the event that you have already used up all your other assets and you only have bitcoin left... and surely as well three years gives you time to consider the liquidation (or partial liquidation) of other assets first, too.

One of the reasons that I have continued to harp on the 208-week moving average as a great measuring tool for having had reached fuck you status and then how to withdrawal bitcoin once reaching fuck you status is because it has been tending to move up at a rate that can allow for a decently large and regular pace of increases, and so if the price of BTC is getting close (maybe within 10% or so) to the 208-week moving average then there would be some reluctancy withdraw any BTC while the BTC price was within that low range... which historically have been pretty short periods of time.. so hopefully withdraws could be timed around that and surely if BTC prices were causing the 208-week moving to be gravitating downward rather than upward, then surely we are already in pretty damned BIG trouble by that time.. and maybe would have needed to look at a lower level indicator to forecast the BTC is dead is really real this time scenario.

Even though I am currently projecting my cashflows out around 24 months, I surely do not have nearly that level of 3 years of liquid reserves built into my system.. and such liquid reserves that I have are kind of scattered between funds, so is not even in a dedicated fund - or maybe not even properly flagged, even though in so many funds that I keep, I never spend them to zero, so I will usually have some funds that are there as a kind of floating balance.. and can end up being quite large sums of money depending on what other activities I am planning or juggling in terms of where money might be moved from one fund to another... so maybe for me, it might be good to at least better categorize those various funds, in order to get a better grasp on how much of a reserve that I have (even if I do not keep those funds in a separate account.. which surely is likely to be more of the preferred way of keeping track of the existence, size and maintenance of the size of such funds up to a certain predetermined level).