Quote from: NotATether on Today at 05:31:45 AM

Quote from: JayJuanGee on Today at 05:21:33 AM

It seems to me that recently so many people had considered that they need to "earn yield" on their bitcoin and their various value holdings contributing to their placing their bitcoin and other value with third parties who ended up running off with the money, losing it or engaging in some other behaviors that cause somewhat innocent people to lose money because they believe that they need to earn yield on their bitcoin.

The thing is, if you have "fuck-you" money as you've mentioned $2m or around that, you don't need outrageous yield. You can simply hodl it naturally and you gain interest on that.

People don't want to earn 2 million dollars, that's why they go to high-yield stuff and get screwed over. They were never prepared for big money in the first place.

Not holding it in a bank, because then inflation will neutralize and even turn negative the small APR your bank gives you.

I am not trying to lock anyone into any kind of specific amount, even though prior to March 2020, I used to describe $1 million as entry-level fuck you status, but more recently, I thought that it would be more realistic to use $2 million as our presumption of entry-level fuck you status - especially for people in the West.. even though I recognize and appreciate that people might have BTC/wealth accumulation goals that are way smaller, such as getting to $100k.. or even way larger, such as getting to $20 million.. or whatever a lot of variations of such.

The use of $2 million as entry level fuck you status is just a guide that is an attempt to be more concrete with about the necessary that each of us needs to attempt to ground ourselves somewhat into figuring out our goals in terms of quantity of value and timeline, and then figuring out what we might be able to do once we have reached the goals that we have created for ourselves... and even including that we create goals, but we can tweak them along the way in all kinds of regards in terms of timeline, value sought, how to measure value based on assessing various assets/currencies (including but not limited to bitcoin), how to get to the places that we aim to get, etc.

Of course, there is no absolute need for any specific person to even get close to $2 million or even to believe that they need to get to some kind of an entry-level fuck you status in order to be able to profit stupendously from establishing a bitcoin plan that involves accumulating bitcoin and figuring out ways to execute such bitcoin accumulation plans... and including figuring out how bitcoin accumulation might supplement any other financial/psychological plannings that they might already have.

And, yes many of these concepts might remain somewhat as moving targets including considerations regarding whether ways that value is held is actually holding value or appreciating in value, and then considering whether future performance might be able to be predicted within a flexible framework that may or may not be achieved... So projections of future value based on a variety of factors might also need to be adjusted from time to time, yet many of us know that failing to plan may well be similar to planning to fail, so in that regard, I am a much bigger fan of planning, even if the plans may well need to be tweaked from time to time, but if we are able to get a lot of the directional aspects correct in our planning, then the fact that some of the specifics might not have come out as planned might not be detrimental to our plan.

Let me use your forum registration date as a hypothetical framework, and let's say that 3 years ago, such hypothetical person started to get into bitcoin, and s/he had around $200k of quasi-liquid assets in his/her total investment portfolio, and maybe at that time s/he was using $1 million as his/her goal, so s/he felt pretty good that s/he was nearly 1/5 of the way there, and it may take another 10 to 20 years or more to reach fuck you status, but then when March 2020 came, s/he realizes that s/he better aim for $2 million in order to attempt to be more realistic.

If we consider that such hypothetical person figured out bitcoin, and decided to be somewhat aggressive in BTC, then such hypothetical person might have decided to put 10% of his her total investment portfolio in bitcoin, and maybe it would take a year to reach such target.. so maybe in the next year between late 2019 and late 2020, such person accumulated $20k worth of bitcoin. So, such hypothetical person can continue to measure what are his/her investments and how are they performing, are there any needs to change the allocations. It is possible that a person getting into bitcoin in late 2019 might have been able to accumulate quite a few bitcoin under $10k.. so feeling pretty good now, but we have had a lot of trauma in the last two year in terms of how to measure such value and the value of the various assets within our investment portfolio.. and how to attempt to manage that and maybe even how to focus our allocations, whether to engage in reallocations and a variety of individual considerations.

So then some of the questions for such hypothetical person might be how to compare what his/her initial late 2019 projections compare to where s/he is actually at versus where s/he had projected him/herself to be and whether any tweakings need to be made.. or if the initial plan is still generally and directionally working. Is progress being made towards the goal to get to fuck you status in 10-20 years, and sometimes it might appear that in the short term (even within 3 years of starting the initial plan) that progress might be hard to measure, but if BTC accumulation remained part of the plan there could have been a lump sum investment of $20k in to bitcoin (maybe getting 3 BTC), and then a dollar cost averaging into bitcoin thereafter... so maybe $50 per week of DCA into bitcoin over the last 3 years would have cost about $7,850 and resulted in an accumulated of an additional 0.4 BTC... so such hypothetical person would have accumulated around 3.4 BTC..and could measure whether the ways of allocating are profitable in the long term even if the level of current profits might not exactly be large or even in the positive in the short term... .so the person who had $200k in his her investment portfolio in late 2019 may or may not be in profits at the moment, and there might be questions about whether progress is being made and if it will be made in the future based on ongoing investments.. any tweaks necessary?

And even if such person does not make fuck you status in 10 years to 20 years, s/he will still likely continue to profit from ongoing investing and accumulating bitcoin.. whether reallocating at these levels or merely continuing to DCA into bitcoin.. while realizing that there are no guarantees that goals will be met in 10 to 20 years, and maybe the timeline needs to be adjusted at a later date, too? but is such hypothetical person going to stay in bitcoin or not? increase his/her bitcoin allocation or not? Those are personal choices that may or may not end up paying off, yet many of us in this forum continue to believe that bitcoin is amongst the best of investments as long as each of us attempts to allocate aggressively without being overly aggressive in such a way that causes us to lose our bitcoin.

Quote from: LDL on Today at 06:06:43 AM

Quote from: Imran232 on July 01, 2022, 09:45:18 AM

Re: Strong Hands Are Buying

Strong hands/ Bitcoin whales (contains 1000+ BTC in their wallets) , It is not true that all of them are buying bitcoins but some strong hands are buying bitcoins.

Some strong hands/ bitcoin whales/ Diamond hands & their bitcoins.

Satoshi Nakamoto: Unknown but guessing 1M Bitcoin in Satoshi's personal wallet
Michael Saylor: 130K bitcoin & Still holding and buying
Elon musk: 33k BTC but recently he busy with dogecoin
CZ binance: Unknown amounts & Still buying
Barry Silbert: Unknown amounts & Still holding and buying
Vitalik buterin: Unknown amounts, Still holding and buying
Tim Draper: 30K BTC at $600 in 2014 but recently his amounts unknown
Brad Garlinghouse: Unknown amounts & Still holding
EI Salvador: 2381 BTC & still holding and buying. Governments announced his country will buy 1 bitcoin per Day .

Strong hands and whales are not the same thing.

A strong hand can be someone who has less than 1 BTC and who either continues to buy or maybe even buys more at these prices.

One of the difficulties for a lot of folks who had been convinced about bitcoin is that they were buying bitcoin all the way down from $50k, then $40k, then $30k, then $20k and then now around $17k. .perhaps even picking up some bitcoin below $16k.. and there may be times in which they have run out of money or spent way more of their available cash reserves than they expected because they did not expect BTC prices to go lower than their purchase price. They might be referred to as strong hands partially because they are still able to buy, but also for the fact that they have not been selling in these sub $20k prices.. and are still able to buy.

The term strong hand is a pretty loose one, but still I would not consider the need to be a BIG player, even though I do believe that bigger players will sometimes have more cash in which they are able to buy.. but some of the folks with a lot of cash do not even recognize and/or appreciate the value of buying BTC... so in that regard, there might be some preference to measure a strong hand who is actually able to invest into bitcoin as at least figuring out that bitcoin is a good investment.. because the other folks who had already figured out bitcoin is a good investment bought a lot of bitcoin already at higher prices.