Quote from: JayJuanGee on February 25, 2024, 10:26:50 PM

Quote from: ginsan on February 25, 2024, 09:20:14 PM

Quote from: Dailyscript on February 25, 2024, 02:11:29 AM

Quote from: ginsan on February 24, 2024, 09:16:05 PM

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I partially disagree with you that most of the bitcoins that would be out of circulation would be as a result of the demise of some holders of bitcoin. There are thousands of people holding bitcoin, and no one is foolish enough to think that he would not have any preparation for securing his bitcoin for his heirs to inherit. At least not in this era, so many solutions have been brought to harness this situation of losing funds after the death of someone. Many bitcoin wallets have been dormant but were later considered to be lost. Yet after ten years, we would see a transaction taking place in that wallet. How come? Maybe someone found out the lost or hidden key phrase.

In the future one main thing that will reduce circulation is mass adoption and holding long encouragement. Imagine if 25% of the global circulation buys bitcoin; there will not be enough to circulate if this set of people and the previous investors hold their coins for 10 years or more. There will be a very high demand for bitcoin but no one will accept to selK. This will cause to the increase in value.

It's up to you how you react to it, but I think some people forget or delay telling their family that they invested in Bitcoin and suddenly they died. then his family certainly couldn't access his btc if he didn't tell them his private wallet key. In this case, I saw several articles which stated that several large BTC holders had died, but I didn't know in detail that the BTC holders did not leave their private keys to their families. So, for that reason, let's just take the point that BTC circulation will disappear because of those who die or those who can't access their wallet because the private key is lost.

So what is the advantage of all of this?

One of the advantages is that the coins of all of the remaining holders become more valuable when fewer coins are available / accessible (lost). Sure the disadvantage to the family or the potential heirs, but it is not necessarily obvious that the heirs deserved the BTC more than the overall bitcoin community. Some people could purposefully die with their coins because they would like to overall give to the whole bitcoin community rather than giving their coins to a presumptive heir. So there could be a question regarding whether the passing down of the coins to the whole bitcoin community was done on purpose or accidentally, but bitcoin does not care, because if those coins are not recoverable, then bitcoin has just become more scarce.

Quote from: ginsan on February 25, 2024, 09:20:14 PM

Of course, the smaller the circulation and the increased adoption or the more people who invest in Bitcoin, the more visible the opportunity is for a significant price jump. I hope you understand what I am clear about and that there are no stupid people in this developing era, but please know that sometimes it is their carelessness that loses their assets, such as storing the private key incorrectly.

Yep was it a mistake or on purpose, and since bitcoin cannot figure it out the difference, there is no recovery of the coins.

Quote from: ginsan on February 25, 2024, 09:20:14 PM

Quote from: JayJuanGee on February 25, 2024, 04:38:10 PM

Quote from: ginsan on February 24, 2024, 09:16:05 PM

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If you spend, 10 to 20 to 30 years investing into bitcoin, and if you start out with bitcoin as your only investment, surely in the first 5-10 years there may be periods in which you might feel that you are not making progress, but then at some point you might start to feel that you have enough BTC,. and even if you are not quite at the level in which you are going to want to start to cash out some of your BTC, you might at least start to choose to invest into other things so that you feel less overexposed to bitcoin.

And mostly HOLDing through a period in which BTC prices go way up and way down takes a bit of commitment to the idea that it is just better to mostly be HOLDing. You likely have to have systems in place that allow you to do such a thing, and there are quite a few bitcoiners who are similar to me, and some of them were on this forum complaining that they did not sell more during the peak.. so sometimes there can be some regrets about missing such BIG trade opportunities, but even if you sell, you could end up selling too soon and then also not really know how to play it.. when to buy back and how to buy back, so it surely can be difficult to get anywhere close to the top in terms of selling and to get anywhere near the bottom in terms of using those proceeds to buy back.... so sometimes there can be more comfort in terms of not even trying to play those kinds of games with your BTC, unless you are just using a small portion of your BTC to do that, but at the same time, if you have not reached your accumulation target, it makes even less sense to be selling if you feel that you don't yet have enough BTC.

Yes, as long as there is no urgent need, of course it is better to continue holding. Indeed, 30 years is a long time and perhaps no one knows our future fate.

If you get into bitcoin and you are in your early 20s, you may well already consider that your timeline might be able to be longer, but yeah if you come into bitcoin and you are already in your mid 40s you might consider that you might not want to have a timeline that is more than 20 years..

Of course there can be all kinds of variations, and even if you invest with a long timeline, you are not locked into the funds, so even if you might treat it as a retirement fund (or a fuck you status fund), but if you are able to achieve a level of financial wealth that allows you to start to withdraw from the funds and to have more options, then you will likely be grateful for that.. and if you are investing $10 per week and 1 year is $520 and 10 years is $5,200 and 30 years is $15,600, you may well not have a lot of funds? We cannot know for sure if BTC might go up in value a lot after you invested in it or maybe it goes up while you are investing so you don't have as much of your value that experiences the compounding effects because you are investing such small amounts.

Quote from: ginsan on February 25, 2024, 09:20:14 PM

It seems that if you have reached satisfaction, there will be an option to cash out and maybe it will only be a small amount without having to sell everything. Personally, the bitcoin investment journey is like drinking coffee every day where I keep doing it to keep buying and holding it.

Of course you have total optionality to cash out as soon as you want, to and there are a lot of people who end up cashing out way too many bitcoin too soon and then they regret it later, and maybe you will become one of them. It is your choice and you have to live with the consequences.. and sometimes BTC holder/accumulators cash out for some relatively small amount, and then the BTC shot up 20x and they could have cashed out 20x higher, but they did not have patience.. so that is their problem.. and sometimes it had even been like 200x or more higher that they could have had received, but they were happy with their profits and they cashed out.. yeah.. its their choice and they do not recognize and appreciate the mistake until later, but sometimes they recognize and appreciate the mistake, but they keep doing the same thing..

This should be an important thing for us and should also be our priority if the investment we make in Bitcoin is known to our family and one option is to trust them to access our wallet when we are dead. It's true that no one wants death, but it will happen and we don't know when it will happen. Of course, passing it on to the community is something only Satoshi can do and other people might find it difficult to do.

There is no recovery that can be done other than the coin disappearing from circulation. discussing this issue, of course Bitcoin could reach $500k if shortages continue to occur every year. it's not impossible but we need time to see it. My confidence is growing in all possible aspects that one day Bitcoin will become a very valuable asset compared to other investments.

Maybe you are right, I have to take advantage of the opportunity to enjoy the benefits that exist someday. Of course I need to give vent to my lust to buy an item that might be a dream for now. life is only a moment and yes I will definitely take advantage but maybe not for now. The way to implement long-term investments may vary, where some start with $10 or $30 from the start so that their target is quite far away, namely 30 years in the future.

That's a very good suggestion sir Grin

. Of course we want to have a Lambo that is synonymous with success if you look at the things published on social media lol

Apart from that, all the targets we want are success in the future and here we start and are ready to provide encouragement to beginners so that their enthusiasm grows to continue to Hold.