Quote from: suchmoon on August 02, 2021, 10:53:57 PM

Quote from: JayJuanGee on August 02, 2021, 09:24:57 PM

Well, once he gets one or two magnitudes higher than fuck you status there might be a wee bit of a different game going on in terms of whether the HODLer feels that he can sell his bitcoin as fast as they appreciate in value...

I have no way to prove it but I'm guessing that this 100xFU group is very very small and most ideologically-dedicated hodlers are probably in the < 1.0 FU territory and they didn't get there by blowing money on lambos and iphones unless they started with a 10+ FU inheritance.

You may well have a valid point that I am exaggerating the ease upon which to get to both fuck you status and also to 100x fuck you status, after having had reached fuck you status...

I may just have to say "uncle" on this one, but let me give one more shot to an explanation.

Both of us likely realize that bitcoin does provide a vehicle of both getting to fuck you status and also to 100x fuck you status in theory, but likely also acknowledge that a lot of mistakes can be made along the way.

There is NOT exactly any objective fuck you status, but the concept of getting to a place in which you would be able to live off of the withdrawal of the income of 4% per year, so the latest working-point presumption is that $2 million would serve as enough to get to entry-level fuck you status, which would be $6,666 of passive income per month.

Let's just be conservative and suggest that the 52-week moving average is our base BTC price, and currently the 52-week moving average is at $32,700... So entry-level fuck you status would be 61.162 BTC, and 100x fuck you status would be 6,116.2 BTC.

O.k. Sure.. it would be a pretty rare bird of bitcoiner to both accumulate and to hang onto 6,116.2 BTC, but 10x or more of fuck you status at 611.62 BTC would not be very far out of reach, right?

I think that I will just back off this one for now, even though I do believe that I was making a fairly decent point regarding that a person could get very far above fuck you status and not give great considerations to spending once getting several times above fuck you status, and sure 100x is neither necessary, but also probably not as easy as I was making it out to seem.. but instead actually getting to regular fuck you status of $61.162 BTC and several times above fuck you status has surely been reachable and would likely have similar effects as a matter of kind even if not in degree.

In other words, I am not conceding that getting to regular fuck you status is necessarily difficult, and it should be coming down reasonably well in the coming years, whether this cycle or the next one.

Quote from: suchmoon on August 02, 2021, 10:53:57 PM

From my own experience, when I was poor AF I was driving a beamer that I couldn't afford, and now that I'm... less poor I'm driving a cheap shitbox that gets me from A to B and I couldn't care less if it's not cool. I do believe there is a correlation.

I am not necessarily going to go along with this, but I do agree that there are quite a few people (and probably a majority as you seem to suggest) who do over consume in depreciating products and end up stifling their ability to even rise to the level of fuck you status. So sure the one who ends up getting ahead later in life do probably have a decent amount of conservatism in their youthful spending, and maybe they are also disinclined to be flashy in their consumption, even at latter times, but I do believe that peeps can learn to become more flashy in later years based on having had built greater levels of excess wealth.