Quote from: Victorycoin on Today at 12:03:10 AM

Quote from: JayJuanGee on August 02, 2021, 10:33:11 PM

$250k-$750k - prudence and buying extra nice things from time to time

Honestly said same think with @JayJuanGee agree time to time maked nice moment in bitcoin world, All things considered you have a lot of experience with Bitcoin and a lot of skills that you have acquired. We can give very few details about bitcoin but here you have presented bitcoin in great detail from which you can get a lot of good ideas. On the other hand, since you are constantly sharing your experience we can hope that in the future we will be able to learn a lot from him.

I am just suggesting that if your target "fuck you" status level happens to be reaching $2 million in accumulated value in your investment portfolio (presuming that a decent amount of that portfolio value is in bitcoin), so as you get closer to your goal which means building up the size of your investment portfolio, you can likely begin to relax more while at the same time improving your lifestyle along the way too.

You do not want to relax so much that you are making it impossible to reach your target fuck you status, but through the years I have noticed that value of a somewhat responsibly managed investment portfolio does tend develop some of its own kinds of compounding effects, so it is much easier to build it up as it is getting BIGGER - presuming that it is not in a bubble, either.. but sure there may also be times that it is just fluctuating, but if you look at the longer stretch it may well show that it is growing (even if there might seems to be ups and downs along the way and sometimes you might not know with confidence that your investment portfolio is growing while in the midst of some kind of down period).

I am able to track my own investment portfolio back for more than 30 years, and I see that it had taken me a long time to build, but at the same time, I was also going to college and things like that, which seemed to cause lack of growth periods, yet as the time passed, the investment portfolio seemed to develop some seemingly compounding effects too.. of course, getting away from debts that were not used towards building capital and value.. and I suppose some of those larger and later areas of growth in value might just have been due to bitcoin and some of my own track record might put into question whether we are able to continue to expect some of the outrageous growth that has historically come from bitcoin.

I personally had noticed that regular assets/investments had not tended to compound even close to as much upon themselves as bitcoin, but still frequently as a person's investment portfolio is getting larger, s/he should also be able to consume more too... and sure, hopefully there is some balance in terms of NOT taking away from the ongoing ability of your investment portfolio to continue to grown and to compound upon itself, but surely as you take out some profits, rather than just folding those profits back into your portfolio, there will be some likely shrinkage in the magnitude of the portfolio's growth when you are pulling out some of the profits, even if seemingly small amounts (could be tax consequences, too).

At the same time, it is good to live a bit, too.. once you are becoming more wealthy.... so long as you are still limiting the amounts of the profits that you are pulling out of your investment and taking your eye away from your target amount (in this case $2 million)..

For example, let's say that your total investment portfolio got up to a value of $500k, and it took you 7 years to get to that status, and you are feeling quite good about your overall investments and your strategies to get to where you are at. Hey this is bitcoin, we can have histories of guys who have gotten to $500k in 7 years or even less amount of time than that, but they may well needed to have some persistence and stick-with-it-ness in order to get there too You will see that DCA investing in BTC at $30 per week for the past 7 years would have gotten you to about $500k at our current BTC prices (about 12 BTC).

So, you had invested nearly $11k, which is about 44.5x profits, and if you have not taken any profits so far, you may be nervous to take profits because we still seem to be in a dip in our current BTC price, and your goal remains to reach $2 million, so maybe instead of taking profits from BTC, you would just spend from other means..and I doubt that you should stop putting $30 per week into BTC or maybe even more than that, but it should be possible that your cashflow has increased in other areas over the past 7 years, so you could perhaps afford to splurge in the use of your cashflow from some of those other areas without necessarily taking from your ongoing bitcoin building and compounding..

From a discretionary stance, you could also decide to trim some profits from your bitcoin.. even if the regular amount that you are putting into bitcoin continues to be $30 per week and is really not very much.. and 7 years later, it may well seem that you could doubling the amount that you put into BTC to $60 per week (depending on your cashflow) without even feeling any real strain on yourself nor your budget.

The building of an investment portfolio seems to give options in terms of how much to continue to build on the areas that are BIGGER than the rest, but you could also reassess whether the BIGGER areas still have potential to grow or might you need to start investing in other areas or consuming or considering if you might get delayed in reaching your $2 million fuck you status goal, even if with our $500k scenario you would already be 1/4 of the way there after 7 years, which I guess I am suggesting that it should not necessarily take you an additional 21 years to make the other 3/4 (which is $1.5 million)... so maybe you are half way there, if you continue to let your BTC largely just compound upon itself... but a 4x in BTC price could also well take place within this particular cycle and then your concerns about being only 1/4 of the way to fuck you status just ends up happening a lot more quickly than you thought... not that I personally would be relying upon spot price to determine BTC portfolio value..and that is another potentially long story about how to value your BTC in order to pull the fuck you lever when the time comes.