Post
Topic
Board Bitcoin Discussion
Merits 1 from 1 user
Re: Bitcoin overshadowed by economic lie
by
tabas
on 29/04/2023, 13:16:24 UTC
⭐ Merited by JayJuanGee (1)
Well, be careful tabas.

I know that a lot of people get tempted to trade and they also get tempted to try to accelerate their returns based on volatility, including that many of us likely realize that volatility in bitcoin is inevitable, but we still cannot really have any level of confidence in short term volatility, even though we likely can have a decent amount of confidence that if we continue to accumulate bitcoin and not get too risky with our approach and do not fuck around with trying to gamble with our bitcoin, then likely we can continue to build our bitcoin holdings over time, and maybe it could still take 15 to 30 years before we really get to a financially comfortable position (and that is not even guaranteed), and our odds of getting to such financially comfortable position is better if we continue to build our stacks of satoshis.. and then maybe at some point into the future, we will be able to recognize that we have a decent amount of financial cushion and we have largely reached the goals that we have set for ourselves, whether we want to reach a kind of fuck you status or if we merely want to just be better off than we would have had been if we had not invested into bitcoin.

Accordingly, if you measure getting to fuck you status by the amount of annual income that you have built up, then you may well need to get between 20 to 30x the size of how much that you need per year in order to be able to feel comfortable in terms of living off of that amount, and frequently people will get greedy before reaching those levels or maybe not be able to manage their wealth once they have reached a full years of income within their investment portfolio.. so it can take a lot of discipline to continue to pursue and persist and to not lose your principle when you have reached 1x your annual income and in the process of trying to get to a decently high level such as 20x to 30x.. and yeah, I understand that a lot of people do not make it, and yeah, I understand that some people believe that they do not need 20x to 30x, so those kinds of opinions can vary in terms of how much is needed and how to valuate the value of your assets (which ones that you hold - hopefully including but not necessarily limited to bitcoin... and I am not referring to any need to hold shitcoins, even though some folks might choose to hold some shitcoins).
Thanks for your great reminder and concern, don't worry. I've been into the bottom rock situation of my life and that's why I'm just trying to be the better me with the hopes of having a greater future with these assets, mainly with bitcoin. But at the same time, I don't want to compromise my future and still making myself aware that unexpected things might come in terms of these decisions that I've been holding not limiting only to bitcoin but also to the performance of the other assets that I am holding and soon, may be added to my portfolio. I'm still not firm with my plans beyond 10 years but, hopefully that this bitcoin ride and journey that we all are having will set us for life and that's what I'm leaning and moving forward to everyone's success and not to panic when bad times comes again after such bull runs.