Quote from: Dictator69 on August 28, 2023, 04:18:37 PM

Quote from: JayJuanGee on August 27, 2023, 05:20:41 AM

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

You are saying you made 26x and still saying I have made mistakes along the way. I mean are you even expecting more? Or what I just missed here.

I am not complaining, and I am saying that the Bitcoin portion of my investments are up right around 26x based on my use of $1k as my ballpark way of estimating my cost basis per BTC.

So yeah, the BTC portion of the investment ends up bringing up everything, everything is not up 26x, and I am not even complaining about any of this - but I am suggesting that there are likely quite a few folks who have done better in life than me in terms of their investments.

Remember, I said that on average I got around 5.5% for all of the prior more than 20 years of investing prior to getting into bitcoin investment did not really even get to that 5.5% level of returns until right around 2.5 and maybe even close to 3 years after I started in bitcoin, so let me give you some kinds of examples of mistakes, so if you consider that I brought my average cost per BTC down from $1,200 when I first started, and then it got down to about $570 per BTC in late 2014 or early 2015, and since the BTC price stayed pretty low through the whole of 2015, I am pretty sure that my average costs per BTC had gotten down to below $500 per BTC..

So, you can see that if I would have kept doing good and not making mistakes, then my average cost per BTC should have had gone down instead of up, and I am a bit reluctant to get into too many details in regards to how it went up so much besides some hacking SIMs swapping incident and then some having money on some exchanges that got shut down. such as BTC-e.. and there were a few other mistakes like that contributing to my cost per BTC going up, and yeah, I did not have any money in FTX, or any of those other ones Voyager, Celsius, Blockfi, 3AC, Tera Luna, GBTC, or Gemini's yield branch. So, yeah it could have been worse, and some lessons are learned along the way, and some of the lessons are petty kinds of lessons.

Probably some of the reasons for my somewhat mediocre returns in my more than 20 years investing prior to bitcoin had to do with my choices of safety in several of my investments and my unwillingness to take too many risks, so even when i got into bitcoin, I still thought that I was taking reasonable risks, even though so many folks told me that they thought that I was crazy (some of that was contemporaneously in 2014, 2015, 2016 and some of that was after the fact (several years later)

Quote from: Dictator69 on August 28, 2023, 04:18:37 PM

I mean even if the buying of 1 BTC cost you around $1k at an average rate then I think that's a good buying. But still, it really matters how much BTC you have. Not asking just saying.

In recent times, I have been admitting to having at least 0.63 BTC, but in the future, I might have to change the amount of my admission.

So, yes, you are correct that the actual amount makes a difference in terms of some of the ambitions that someone has, but other things also make a difference in terms of considering how large of a BTC stash that we consider that we are going to need in order to support ourselves in terms of our expected standard of living and how we might start to draw upon our BTC stash in full or to supplement other cashflows that we might have.

So if we might feel that we need $3,333 per month in passive income, then we might need to have $1 million of net worth, and sure that networth could be in a variety of different asset classes, and I was considering creating a thread about those kinds of cashing out concerns, but I was thinking about using 21 BTC as the starting amount, and so there might be questions about how much you might be able to spend if you have 21 BTC, and there are various formulas that you could have that would potentially include spending the budgeted amount that might ONLY be between around $1k and $1,500 per month based on current formula considerations, but if the BTC price goes up then the amount that could be spent would likely go up, and there could be some replenishing of the supply or there could be some months in which you might choose to not draw a passive income from those BTC funds.

Quote from: Dictator69 on August 28, 2023, 04:18:37 PM

PS: and did you remember the graph which wind-fury shared, the link of which I gave you, by searching it on the google lens. I found the source to that topic, and it was not intentionally found instead I was reading some topics and one of the OP made a topic by the name of Here is a tight slap to bitcoin haters

Well, that chart was about, all the times in past when many big authorities talked bad about BTC and then BTC turn out to be a charm instead of failure. The thing is BTC really disappoints many people who believed in its failure. The real link to that source is here https://buybitcoinworldwide.com/bitcoin-is-dead/

I will put that BTC talk thread that you linked on my list of threads to look at... sometimes I have too many "threads to look at," and I end up changing priorities or sometimes removing some of them from my list... it depends on where I am at.

Quote from: Odohu on August 28, 2023, 05:47:26 PM

Quote from: JayJuanGee on August 27, 2023, 05:20:41 AM

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, .

At 17/18 years old I was not really privileged to certain information especially those that makes one self reliant. I think it is a thing of our culture;parents will hardly allow their children around that age to leave the home to pursue their dreams. Instead, at that age range, we were occupied with how to enter the university, still under the funding of parents/guardians. So at that age, things like investing was alien to us. However, things have changed now as awareness is fast spreading globally, thanks to deeper internet penetration.

I would not exactly consider myself as being privileged because there also was not very much emphasis on the needs to go to college, so I did not end up going to college until I was already in my early 20s.. so without getting into too many details, I was largely referring to an employer that provided a basic kind of personal finances class for all employees, and I doubt that it was even very advanced but part of the way that the employer was able to provide such a class was because the company teaching the course.. maybe it was half a day or maybe it was a couple of half days spread over two weeks - was because they were trying to sell financial products and financial advising, but part of their lure into the company to get to teach the course to employees was they would teach several topics of general financial applicability and responsibility.

I remember the course because it motivated me to keep track of my cashflow and my expenses and also to put aside right around 10% of all incoming cashflow (prior to expenses).

By the way, my getting into bitcoin ended up putting quite a few different perspective on my own personal financial management but also in terms of attempting to compare various asset classes and even the role of money in society and bitcoin's relationship to some of the history of money and the history of how assets are used to store value and in areas that I had not previously considered.

Quote from: Odohu on August 28, 2023, 05:47:26 PM

Deep down there is this joy I have been experience and that is partly because I feel I am doing the right thing especially with making sure the future is secured; I have never had the fear of the future that was once a nightmare to me. Now I am more hopeful of a future that I don't have to engage in arduous work at old age.

It's not guaranteed, but there is a kind of hope and a seemingly pretty solid hedge against other kinds of problems with asset classes and the manipulation of money and including that there could be some desperate battles coming from the status quo elite (and rich.. and using/abusing their powers through the arms of governments).

Quote from: Odohu on August 28, 2023, 05:47:26 PM

Quote from: JayJuanGee on August 27, 2023, 05:20:41 AM

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

I have learnt a lot from you and I happy I found a forum like this. A lot of things are already changing with me and very fast at that. I am taking my financial planning and investing seriously, cutting many frivolities and focusing only on needs and necessities. The transfer of knowledge and experience happening in this forum is what I will cherish as long as I live

Ultimately, you probably are able to learn because you are both in a place for learning and you are attempting to put your learnings into practice, and surely you realize that you are going to make some mistakes along the way, but there are likely ways to both hedge the mistakes and to lessen the likely impacts of mistakes once they happen.

Another thing that you may well likely find is that you may well to share some of your learnings with people you know in the real world, and some of them will seem to be receptive to what you are saying, but it may well be a lot harder to actually convince them to take action because each of us likely has to come to bitcoin at our own pace, and surely I have never really shied away from trying to help people in their bitcoin journey.. including in the real world, but sometimes it can become very frustrating including being careful NOT to get sucked into situations in which you are taking responsibility over BTC's price movements that may or may not go as expected.. either in the short term or the longer term, even though it seems to be a great place to have some kind of investment and to make sure not to be on zero, which currently is the case for the vast majority of the world's population.

Quote from: Aanuoluwatofunmi on August 28, 2023, 09:52:10 PM

Quote from: Samlucky O on August 28, 2023, 02:42:14 PM

[edited out]

Do we really need the use of ChatGPT in telling bus the possible experience we are likely to have from the bitcoin market price to either go dip or more bull, some have seen the recent $25,800 it tasted as a mean to go more dip while some are closely observing the chart and weekly candles for more possibilities that may come forth from this same recent experience, knowing well that we are aiming at seing the market pumping but not going the way we expected is not a yardstick to doubt about what can come up anytime from now, this is ~~cryptocurrency~~ bitcoin and we cannot fully predict the outcome of what comes in next on a volatile currency like bitcoin, this call for more expectations for bull as we are fast approaching the Halving.

FTFY

Fuck shitcoins.