⭐ Merited by Dictator69 (1)
[edited out]
Ok I got that, and I did not get into accumulation yet as I shared my situation before with you on this same thread. Well, but if I compare the mindset I had back when I was new here with the mindset I have now, I am more confident about BTC thanks to this thread and specifically to you. (not buttering as members started to criticize in humorous way in WO).Well, don't be blaming me either when you end up losing all of your money.
And I will start to accumulate BTC soon and I will share the stats with you. But to clarify, I got your point here and from maintenance, did you mean rebalancing?
I don't really believe in that rebalancing mumbo jumbo, but of course, there are going to be times in which you might have to figure out the extent to which you have investments in other things besides bitcoin and cash.
Sure you could start with bitcoin and cash, but if you get to 1, 2, 3, 5x your income, you might start to consider whether you might be overexposed to ONLY bitcoin, and that is your own judgement.
When I came into BTC, I already had a pretty decently well diversified portfolio that included at least property, stocks and bonds, and I did not have too many commodities, and I figured that my getting into bitcoin was going to serve some kind of variation of that part (I thought of bitcoin as a kind of gold at the time I got in and/or a substitute for gold, so I never did buy any gold or gold exposure).
So in some sense all of my investments, before I got into bitcoin were already enough to sustain me if BTC went to zero. so each person has to decide for himself/herself the extent to which s/he needs to own other things.
When I first started investing I did not diversify, so it can sometimes take 10 years or more before you are getting to a level in which you might feel that you need to diversify. Actually my last charts in this post shows how I have just tended to allow BTC to ride and I did not reallocate out of bitcoin... so as of mid 2022, according to that chart, I was 63% bitcoin.. so it shows going from 0% bitcoin to higher amounts and a lot of that is mostly just changes in the prices of the assets, and bitcoin has grown better than my other investments which have largely had very modest growths and I did not really change those other investments very much.
Like first you did aggressive accumulation and then you started to maintain your portfolio is that what you mean by maintenance.
Well the aggressiveness is to first try to establish a position in bitcoin, so for the first 6 months I gave myself a budget and tried to comply with the budget, and the after the first 6 months, I extended another 6 months, so by the end of the second six months, I had pretty much spent both of those budgets and then at that point I tried to reassess where I was, and that would have been around 10% of my quasi-liquid investment portfolio was in bitcoin, so I figured by that time I had met my target - even though when I started in late 2013, I was not aiming to get to 10%, but by the end of 2014, I figured out that I reached a point in which I thought that I largely had enough BTC, which was the 10% idea but it did not stop me from continuing to accumulate. even though I think that by late 2014 and even all the way to late 2016 I was in a kind of fuzzy transition between accumulation and maintenance.. which I largely consider myself to have had been in maintenance since - even though there is still some ambiguity because I still accumulate, but it is not really much of a overall mindset of mine and I tend to think of myself in various forms of maintenance since late 2014 being weaker maintenance and then by late 2016 a stronger kind of maintenance... I suppose that they are each categories of maintenance but some differing kinds of ways to deal with it in terms of how I was engaging in the maintenance.. which also has to do with living life.. and figuring out where to get money from.. and to largely let the bitcoin continue to mostly ride.
Another thing is that many normal people (normies) might not be able to go from BTC accumulation to maintenance as quickly unless they might already be starting with an investment portfolio, and I had already largely had been building my investment portfolio for more than 20 years prior to getting into bitcoin, so it was likely easier to reach accumulation targets based on those kinds of considerations.. and it is my sense that many normies still might need to take nearly 20 years to build their BTC holdings,
Well, if those normies are taught by a person who have the 20 years of experience then those normies also hold the 20 years of experience. Well, technically that's not possible and I know that but metaphorically a normie who taught or got lessoned from a person having 20 years of experience at least say that I have that much experience but still I am really impressed that you are into investment even before BTC and I think that's why you must came to know about BTC too. I came to BTC because I was already looking for something to supplement the stuff that I already had, and one of the things was that I had a 401k and I wanted to try to invest into something that within about 10 or 15 years might be able to be of equal size as the 401k that I already had..and at the same time a kind of hedge against the dollar a kind of gold.. and so that brought me to bitcoin and instead of taking 10-15 years to match my 401k, it took only a few years to do that.. probably by mid-2017-ish
I mean you are talking with many members on different topics and writing that long replies to everyone,
There might be some needs for me to read back through some of my most recent posts to fix some ambiguities.. but I don't tend to edit anything beyond a few hours out or maybe if someone merits a post and then I see the post and as I am reading through it, I see some things that are needing to be clarified... usually trying not to change anything I said but sometimes I find that what I wrote is not very clear when I read back through it.