Quote from: Dictator69 on August 26, 2023, 08:01:32 AM

Quote from: JayJuanGee on August 24, 2023, 10:54:19 PM

Edited out

after reading your reply I began to think You must be one of the top 1 richest people in the world as you have such an entrepreneur mindset, and you must have gained a lot from BTC and other diversified portfolios.

I have made mistakes along the way, too, and there are surely folks who have had way better price performance than me.

I have approximated that my more than 20 years of investing prior to bitcoin (prior to late 2013) on average was only earning about 5.5% per year (there were up years and down years but the average was around 5.5%), so those were pretty standard kinds of investments and standard kinds of returns.. maybe even mediocre.. but accounting for various mistakes contained therein.

When I added bitcoin to the mix of the investments, the performance went way up, but it did not go up until right around 3 to 3.5 years later, if we account for either late 2016 or maybe into 2017... and so part of the resulting positive is that even once my BTC price performance got to a pretty decent size to outpace all of my other investments, it really did not drop below $3,124 in late 2018.. so even the lowest of corrections kept the BTC holdings in great profits.

So even if you were to attempt to plug numbers in here, you do not necessarily get to stellar performance, and of course, BTC prices went up 20x from the 2018 lows but also corrected back down to right around 5x.. and perhaps now we are around 8x to 9x from the 2018 low.. but I like to characterize my own overall BTC holdings in terms of having a cost per BTC right around $1k per BTC, and therefore it is easier to estimate the BTC part to be around 26x up, overall.

Quote from: Odohu on August 26, 2023, 04:50:32 PM

Quote from: JayJuanGee on August 26, 2023, 05:34:07 AM

[edited out]

This is well understood and appreciated. You are so detailed about this. One thing I have also learnt from your explanation is the need to appreciate the power of little beginning. I know I had fallen into the challange of wanting to start very big before. I'm glad those days are gone. Actually, I never thought about my finances in this direction... assuming I know what I knew now, my finances would have been better managed.

I think that I have told a variation of the story that when I first left home and I was 17/18 years old, and I had a pretty limited cashflow, but I learned right from the start to always attempt to put away at least 10%, and I was not always very good in terms of where I put the 10% (or the amount as it added up) but over the years, it did continue to build and build and build, even though I made several mistakes along the way, and there were times when my income increased quite a bit, so I was already used to living on a tight budget, and so when my income went up, I was frequently putting aside much higher levels, like 25% to 40%.. but I had many many years of ONLY doing 10% and it still added up... just did not have any bitcoin like investments.. .and maybe I was too dumb to identify the bitcoin-like investments and I tried to stick with safer investments, and maybe I would not have had been ready for bitcoin until after more than 20 years of already investing and having had built up my investments based on mediocre performance.

Quote from: Odohu on August 26, 2023, 04:50:32 PM

There were times I had good some of monies and it never occurred to me I could actually plan and make financial projections with them as I was so focused on graduating and getting a job. Well it is not later because we have an adage that says " anytime a man wakes up is his morning".

Yep. That is a good point. We can ONLY start from where we are at, and frequently, I will say to people to get the fuck started, but frequently, people have troubles just organizing their finances enough and in such a way that they know how much they are able to invest, whether that might be 10% of their income or some other amount that better suits their situation... but hopefully they can get it to some level of minimum aggressiveness, such as 10%.. otherwise it becomes harder to make progress since we already know that investing 10% takes around 10 years just to get to 1 year's income invested. and hopefully that amount (and its interest/yield) is at least keeping up with cost of living increases (inflation of prices - deflation of the currency.. hard to get ahead, for sure).