Quote from: Greyhats on January 23, 2023, 10:16:41 PM

Quote from: JayJuanGee on January 23, 2023, 08:36:35 PM

When I got into bitcoin (in late 2013) I was thinking 1-2 years minimum... and so I was not even so strict upon my lil selfie as to really lock myself in, and frequently, since about 2017/2018, I tell people that the investment thesis is so much stronger now than it was in 2013, that any of us should be able to attempt to conceptually lock ourselves into a 4-10 year or longer investment time horizon right from the start of getting into bitcoin. I am telling people that because I think that my own conviction has adjusted but also I think that the actual investment justifies the ability to get into it with a 4-10 year or longer investment time horizon.

When I talk with people about this 4-10 year or longer investment timeline, they say the right words like "yes, that sounds right" but I really don't get the sense that anyone really wants to commit to anything that long.. and even 2 years is feeling like a long time for them.... of course, there can be circles in which people have more confidence and are able to show more enthusiasm.. but normies seem to have a lot of reluctancies to really buckle into a long term investment plan that includes bitcoin as one of the components.. whether that is a low allocation such as 1% of their total quasi-liquid investment portfolio or something more aggressive up to 25%.

Maybe my recent interactions are skewing my judgement a bit, because I know that between late 2015 and early 2019, I had quite a few more interactions with people who were more apparently inwardly motivated towards establishing and maintaining a longer term investment thesis in bitcoin, and some of those people were already somewhat predispositioned towards bitcoin by the time that I had spoken with them as compared with folks who seem to be getting a vast majority of information from me or from the contrasting misinformation that they seem to be getting off of mainstream media sources.

Agreed in a more general way, the concept of along term investment is that long term definition has turned into a couple of years where I would go further and say its at minimum 10 yrs to 30 yrs. It almost lines up to a mortgage term and thats how I see long term in any investment. In relation to btc and the first ones in is there any on chain data would could get a gauge on how much stuck to at least 10yrs holding.

Yes.. I don't disagree with you in terms of "the longer the better," yet a lot of times when we are talking with no coiners or precoiners who are scaredy cats, I think that one of the main messages should be "just get the fuck started," so when we get into discussions about how to think about the "investment" into BTC in terms of timeline, I both trying to suggest some optionality to the matter, but I don't want to scare them off with such a lofty minimum timeline that they are not even going to attempt to seriously consider the matter.. and it is quite likely that they already have some stupid-ass nonsense in their head that mixes up bitcoin with shitcoins, so they cannot even appreciate what the fuck bitcoin is.. which anyone with any kind of superficial clue to the concept of "crypto" or however they might have already heard about bitcoin cannot stop themselves from making those kinds of logical connections in their head to "get in" and then "get out".. they tend to be so focused on figuring out the "getting out" part that they hardly even are mentally capable of motivating themselves to even get in...

Don't get me wrong. From the start of my getting into BTC, I had always attempted to have at least a couple of ways to get out any time that I would want to, even though I had not really expected that I would need to exercise my "getting out" option, I continuously have wanted to make sure that I preserve various ways that I am able to get out of bitcoin - if needed. I try to suggest the same kinds of thinking to anyone who I suggest to get into bitcoin, and I suggest that they start out with one kind of specific location of getting BTC, and then work up their abilities to have at least a couple ways of being able to get out, if they need to.. and yeah, I have found it to have tended to be quite a lot of work to keep the "getting out" avenues available (even if those getting out avenues are not acted upon)... ..

Another thing is that people want to make things easy for themselves, and I cannot really blame them.. so if they are thinking about various ways to get started, then they might start out by setting up some kind of an account that allows them to get in and out of bitcoin and allows them to transfer out for self-custody (whether they exercise that option, too), and then maybe they just start to get worried about how much money they would feel comfortable to put in, and then if they have to take the additional step to figure out self-custody, then that is more work.. So, each of us who have been in bitcoin for a while realizes, that it takes a bit of time investment to take each of these steps in terms of setting up accounts and setting up various wallets and then making sure that we are sufficiently secure and then also making sure that we do not end up rug-pulling ourselves in the event that we do not spend enough time to set something up properly.

By the way, I have some funds that recently I had transferred to a new wallet, and my back up system for that is incomplete and far from secure because the back up is stored in the same place as the primary.. so it makes me worried to have such a system, and it is something that I keep telling myself that I am going to finish the set-up and then I am going to move the back ups to more than one location.. similar to my other set ups, so sometimes we know that we have some security holes or even some we are fucked if our house burns down holes because we have failed to geographically separate our primary and our back up... and yeah if it is valued at $100 or $200 then it might not be a BIG deal if we ended up losing it, but if starts to become potentially life-changing amounts, such as 0.21 BTC or even 3x that amount, then we might start to think.. "holy fuck, that's a lot of money/value in one spot that is not sufficiently backed up."

Quote from: El duderino_ on January 23, 2023, 10:48:48 PM

10 merit for ivomm

But should also DE-merit for bear prices in the good content.

What you talkin bout Willis?

Quote from: d_eddie on January 23, 2023, 11:44:58 PM

Quote from: JayJuanGee on January 23, 2023, 04:28:08 AM

Your choice of course, and surely it is likely that some guys and gal will likely get worried about receiving a mindrust treatment when they share too much that is contrary to what many of us consider to be best practices. As you likely realize, I prefer to speak in terms of hypotheticals, yet of course, some of my assertions describe how great life is going and blah blah blah, so maybe a little more complaining might be in order? even for yours truly?

No mindrusting here
But the powder was too damp
I made no killing
#haiku

We already know a famous saying from a famous person, I cannot remember who "slow and steady wins the race.".... so in that regard, there is no needs to make no killins... so in that regard.. golly gee whiz Wally**, we had nearly 7 months of bargain prices.. and I am not even saying that the bargain prices are over, yet....

**now I know from where comes the name - Eddie. Shocked