I know previously (I am pretty sure it was before 2020) some of us had talked about filthy rich status, and I think that my own number had been $40 million, but then since 2020, I would probably feel that I would need to at least double that and perhaps even go a bit more in terms of labelling what might be filthy rich status, and so maybe I am considering filthy rich status and whale status to be similar kinds of things.. even though surely these definitions in terms of the wealth of a broad class of bitcoiners has considerably change through the years, too... meaning the amount of BTC it takes to reach some of these kinds of thresholds have dropped in exponential kinds of ways.
40 Million $ is a huge number and this must be because you are investing in Bitcoin for quite a while now. My numbers are very low compared to that or you can say negligible if compared to your numbers. But I am comfortable where I am standing right now and I am sure I will be in better position if I keep investing like that for coming years.
At least I don't have some of the bad habits of getting involved in shitcoins or trading, even though some people seem to think that what I do is a form of trading, which I deny it, but just the fact that any of us is keeping some of our coins on exchange can have some of its other problems.
There is discussions about Alts and there airdrops in my community. I am the only one who talked about Bitcoin. Though people who have good fortunes in Alts but they are not for me.
By the way the exchange matters reminds me to hate to even say how I was rescued from a few of my mistakes, but I had some quirks that were kinds of dumb luck in terms of how and/or where I held some coins, and I had also some mistakes in which I engaged in transactions to buy/sell BTC person to person, and so I sent the BTC after receiving the cash, or I would give the cash after getting at least 1 confirmation that the BTC transaction had gone through. And I had a couple of mistakes in regards to those kinds of transactions that show some people to be less honest than others, and I also had some honest folks come through too, when I accidentally sent my BTC transaction two times... but did not realize it until the next day. I guess I am lucky too that I had never (so far) gotten physically robbed when engaging in person to person transactions with strangers... which did happen to some folks even though maybe it was not always for significant amounts of money.
We all do mistakes and there is nothing to worry about. This is how you learn and get experience. I have few terrible experiences in Bitcoin which I even hate to recall but such mistakes give you life lessons and make you stronger in life. There are all kind of people in crypto with which we interact, I have few nice people in my circle while I have a folk who scammed me despite the fact we have a trusted relationship.
Oh and by the way, your own assertion that you are likely still in your earliest years of BTC accumulation likely signifies that you should not be considering selling on the way up, even though buying on the way down can be a good practice, buy still whether you even need to buy on the way down depends upon where you are at in your own bitcoin accumulation journey.. because sometimes just buying no matter what is the even better practice. I think selling on the way up would ONLY apply when you have started to reach a lot of BTC and it still might not make sense to sell on the way up if your idea is BTC accumulation, because selling to accumulate more is contradictory behavior and sometimes might put you in a bit of a pickle instead of just buy ongoingly in order to accumulate. Once you reach a bit of a later stage sell king might start to make sense.. but you would have to assess your own situation to figure when it might start to make sense to sell, even if you are still to consider yourself to be accumulating.
Can't agree more.
I am at very stage of accumulating Bitcoins and there is no point in selling them right now. I don't have huge money to invest in Bitcoin but whatever best is possible I am investing that in Bitcoin. I also think that its better to buy more when price goes down, just like we have few recent dips when price went below 40k$.