Quote from: modrobert on Today at 08:15:43 PM

Quote from: JayJuanGee on Today at 06:32:00 PM

Before you can reach HODL status, you have to get to an adequate BTC accumulation level, which surely can take a decent amount of time for guys who are not already coming into BTC as already existing millionaires or some other variation of high net-worth individuals.

Yes, if I could rack status of "BTC spent" over the years, then it would blow holes in the competition, but my current holdings are microscopic in comparison. Still, it's enough at stake to get me emotional in an unprofessional way at times.

I understand how any of us might consider how those flow through BTC matter, but in some sense, they really do not - except perhaps to establish that some of us may have had access to BTC, and even a decent number of BTC to flow through our various accounts, but in the end, the ultimate decision still remains concerning which form of currency any of us chose to spend first - and whether we might have been reasonably capable of hanging onto a few more BTC.

The punchline does remain the punchline, and that is how many BTC that you decided to hang onto, and if you did spend some BTC, did you replace those in a timely manner or consider that maybe you will replace them later if the BTC prices, and the BTC price never did drop.

I recall some time in mid-to-late 2015, Circle had instituted a policy in which they allowed you to convert your whole BTC balance to dollars,. which was kind of weird and even a bit deceptive, and I know a couple of people who were adversely affected by that policy.

One person accidentally clicked that button at around $225 per BTC, and had not realized that all the BTC had been sold at that price (and just thought that it was to show the BTC balance in dollars), and I said "holy fucking shit" what the hell did you get into BTC for, if you are just going to sell them all at a whim.. It is not like you have that many BTC anyhow.. (something like 20 BTC).

Another person heard about my story regarding what person one had done, and when BTC prices went from $250 to $500, that person decided to convert the whole Circle account (of about 17 BTC) at $350.... Crazy.. that person never had 17 BTC ever again.. funny that.

Ultimately we cannot be acting like we do not understand the ramifications of spending some of our BTC, and sure after the fact, we realize that we were too chicken shit and we realize that we got more pleasure by locking in our dollar profits rather than boring deferring of gratification. We are not going to live forever, right? It's better to enjoy hookers when we can still self-stimulate rather than being too old, right?

Quote from: modrobert on Today at 08:15:43 PM

Quote from: JayJuanGee on Today at 06:32:00 PM

I understand that some guys like to describe some of their situations in kind of "baller" scenarios, but probably an assumption should be that not too many of us are already coming to this thread with an already existing baller status or even quasi-baller status.

No "baller" here, aspiring to be humble (work in progress). I focus on learning new things, knowledge is wealth to me, and trying to rack up some Bitcoin as well because it makes sense.

Of course, there is balance. I spent a lot of money on my education, and I believe that it was worth it, and for sure people are going to come to differing calculations - and even question if the degree or the certification or the training ended up paying for itself or not.

Quote from: modrobert on Today at 08:15:43 PM

Quote from: JayJuanGee on Today at 06:32:00 PM

Even a guy or gal who comes here with an already existing investment portfolio of something like $100k, might well be well pressed to get to fuck you status in 15 years of BTC investing and accumulating because so many times mistakes can be made along the way, and really seems to be the exception rather than the rule for mistakes NOT to be made - even assuming that some of us might be willing to share some of the outlines of our mistakes, but not too many of us would be able to share the specifics of our mistakes- especially if sometimes they might rise to the level of something approaching mindrust's mistake, and we might want to be stubborn in public and even show more how difficult it can sometimes be to save peeps from their lil selfies.

Agreed, admitting mistakes is good. I once sold 100 BTC after solo mining two blocks in a month, we live and learn.

Well the reward was 50 until about late 2012.. so surely, another challenge would have been to hold through the two exponential rise periods in 2013.. Lot's of people have trouble figuring out the balance and they want to lock in some profits... for sure.

And, then if you had been able to HODL through 2013, 2014, 2015 and 2016, what would have been your fate in 2017? Another good selling opportunity, but at what price, and how much of it?

Quote from: modrobert on Today at 08:15:43 PM

Here's a "night shot" of my mining rig at the time, before ASIC, during the GPU era.

good fortune for some of the folks mining back then, even if they might have ONLY been able to hang onto a fraction of their coins.

Quote from: modrobert on Today at 08:15:43 PM

The GPUs were running 24/7 at 102C (215.6F) for roughly a year (two AMD 6990 cards), sounded a bit like a jet plane on the runway.

Hahahaha.. another sacrifice (the noise, the heat and likely the energy consumption), even though the lights look pretty.

Quote from: modrobert on Today at 08:15:43 PM

Quote from: JayJuanGee on Today at 06:32:00 PM

Another mental mistake seems to be that almost everyone comes into bitcoin believing that they are "too late," so when any of us start to explain to the newbie that I believe that you should try to do x, y and z because I have found those to be amongst the best of strategies, including attempting to account for my various mistakes along the way. Understandably, the newbie still might want to "improve upon" the shared system because he believes that there is some kind of rush for him to catch up or some other dumbass bullshit about bitcoin no longer having sufficient pumpamentals in order for the similar x, y and z approach to work. .and gosh the truth of the matter still remains that even newbies coming into bitcoin have a very asymmetrical bet staring them in the face - and can relatively easily get caught up in some kind of an inferior practice rather than just figuring out their BTC accumulation targets and tailoring their BTC accumulation plan to involve various kinds of lump sum investing, DCA and buying on dips in order to make progress towards having a sufficiently assertive preparation for the possibility of UPpity, even though UPpity is not guaranteed in the short term or the long term, but merely has decent chances (likely better than anything else.. but whatever.. not guaranteed, for sure).

In any event, my point is that buying and accumulating BTC may well be a strategy that persists for a decently long period of time for a large number of us thread participants - even if some of us are further on the road than others in terms of reaching our BTC accumulation goals, whether that be 0.21BTC or some other amount that works for our lil selfies.

Yes, common mental block, and good advice, it's never too late for Bitcoin.

For sure, we are still early boyz!!! Wink

Quote from: philipma1957 on Today at 09:31:03 PM

I just a crab 1-10 coins

I could be more than 50 if I approached it differently years ago.

It is still early boyz!!!!!!!! especially for us who already know about BTC and we have our various modes to buy (or earn) BTC.. and we also have been studying the space too (including knowing about various ways to liquidate some or all of our BTC, and maybe also why we might well decide to spend from some of our other funds and resources before going below a certain level of BTC quantity, if possible and feasible).

Tongue