Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
[edited out]
Its easy to talk about what to sell but anyone over 50 years old with 100+ coins needs to think hard about what to do. Especially if they missed the 69k number and did not hedge some at that point..Over 50 YO and more than 100 coins is an issue?
Who would have thunk?
What about the other individual factors such as cashflow, other investments, view of bitcoin as compared with other investments, timeline, risk tolerance, and time, skills, goals (investment/lifestyle targets) and our abilities to strategize, plan, research and learn along the way including tweaking strategies from time to time to consider trading, reallocating, use of leverage and/or financial instruments?
There is something special about 100 coins and over 50 YO? It sounds like a good thing to have that many coins.. and seemingly that many options. Hopefully, the 50 or over guy has other assets besides just 100 coins... but hey, if that were the ONLY asset that a guy had at 50 YO, he probably would not be in a bad place, relatively speaking.
Most people over 50 will be hard pressed to add 100 coins to their stash as it is 1.7 million at the moment.
Why do they need to add any coins? I would say that 100 coins is reaching pretty damned close to (if not already at) fuck you status, even accounting for an age of 50 in which maybe a person might live a few years or maybe even live another 50 years if genetically lucky to live until 100 YO.
It seems to me that a person who is at 50 YO or more with 100 BTC (and maybe if such person also did not have any other resources, which is a pretty BIG assumption, could already feel pretty comfortable to start drawing from 100 BTC at 4% per year and really not have to worry too much for the rest of his life... so what is the supposed BIG urgency that you are trying to paint philip?
I would think that the guy at 50 or over, might need to consider more if he has accumulated enough, and if he is close to zero coins at 50YO, he might be panicking that he does not have enough BTC, but even if the 50 YO guy had 20 to 50 BTC, he might be close to being able to make a plan towards working at getting to fU status.. maybe accumulate more, and even if at the upper end of that 20-50 arena, he might be feeling pretty damned close to having entry-level fuck you status in view, even though at current BTC prices he is less than half way there (assuming an entry-level fuck you status of $2 million).
Since you (philip) value dollars so much more than you value bitcoin, you seem to be unable to appreciate the power of having a decent amount of your wealth in bitcoin.
Your framework and presumptions seem quite "off" (and maybe the opposite) because all you seem to be worried about is cashing out of your BTC in order to stack dollars (aren't those dollars shitcoins? Last I checked, I did not have a whole hell of a lot of confidence to keep very much value in dollars, except maybe what I might want to spend in the next 6 to 24 months. perhaps if I were going to keep that much in dollars?)
Also If you do have 100 coins and they cost you 4k each selling off 5 is not a hard choice.
Why would anyone be anxious to sell BTC at the low of a correction, even if the BTC price might go lower? Had you not noticed that we are at historical lows? Either a guy with 100 BTC should be HODLing, buying a bit more or maybe if selling, only selling as little as he must.. but otherwise this does not seem to be a selling time.. not for folks who seem to have some pretty decent ideas regarding what bitcoin is, what its present and potential future value is, too.
but if you have 15 coins and they cost you 8k each selling off 5 is a hard choice.
I doubt there is a worse dilemma based on having fewer coins.. except perhaps the fewer coins that you have, then the more coins that you might want to be accumulating at these prices - within the context of your own circumstances, such as the ones I listed above.
I am not in either spot I dumped most of my holdings this year.
Sank too much into the solar panels and the gear.
Sank too much into the solar panels and the gear.
Well.. that seems like a reason to be buying rather than telling people to sell just because you did... so what that you already sold most if not all of your BTC...
purportedly you accounted for your situation when making your decision to sell, but seems to me that you continue to make the same mistake in the last 11.5 years of not having enough BTC.. so you do not seem to be much of a good source for anyone who is considering how to use BTC to prepare themselves for their future, whether that is 4-10 years or longer.
What a well timed coincidence with the FTX implosion:
The Federal Reserve of New York and a group of private banking firms launched a 12-week digital dollar pilot project.
The project is titled the regulated liability network, and it will conduct a test on usage of digital dollar tokens by banks.
The stablecoin market has stabilized once again, Fitch Ratings announced return of confidence to larger coins like Tether (USDT).
The project is titled the regulated liability network, and it will conduct a test on usage of digital dollar tokens by banks.
The stablecoin market has stabilized once again, Fitch Ratings announced return of confidence to larger coins like Tether (USDT).
Might be a good thing to attack (for hackers).. perhaps? Testing means opening it up for attacks, no? #asking for a friend.
...I wouldn't believe any stuff coming from these cRYptO channels. Many of them are pretend rich...
Fuck crypto.
That's what I say (nearly every day, but I noticed that sometimes I will substitute "shtitoins" for "crypto" in my expressionenings of my feelings)