Quote from: Tungbulu on Today at 04:02:16 AM

Quote from: JayJuanGee on November 18, 2024, 07:24:35 PM

[edited out

But just like you pointed, if one must trade, it’s very important to play safe by limiting one’s exposure to at least 10% (or even less) of one’s total holdings, and very important, even if it’s not certain that one can absolutely and accurately predict the market at all time, at least make sure that you’re able to generate consistent profits before even relying on it as a primary source of income because not everyone are able to generate consistent returns and income from trading due to the complexity of the market and the volatility of the asset.

Of course, each person can do what they want, and I suggest no more than 10%, and even 10% may well be too much, yet one of the problems of trading/gambling is that there is a cascading effect that keeps luring them towards wanting to use more and more and more in order that their profits can be "meaningful" and they are not satisfied with $100 in profits, they want $1k... etc etc etc.. and they keep pushing it.. more and more so there is almost no way that they won't end up losing at some point.

One thing is having a solid outside income source, then that can help to provide an income to live off of, and then to continue to build the bitcoin investment portion and/or trading portion... in that way they are not having to take money out of their bitcoin holdings in order to support themselves... whither it is taking from their investment part or from their trading portion.... The larger they build their BTC portfolio, then the more options that they have, even if they might keep one portion as a kind of passive income portion, another portion as long term growth (just keep adding BTC to it) and then another portion to trade.. .. and so a tricky part can be to keep their trading portion growing and then maybe even to take from their trading portion from time to time to add to the investment part of their BTC holdings.

Many problems can be resolved once the living income can be set to the side.. or kept separate from the trading portion... and there surely can be guys who are able to make these sustainable, and even to deviate from capital size techniques that I suggest, and surely if they are actually skillful versus just lucky might end up being a question that is difficult to answer without a long passage of time, yet I would imagine if a guy has separate funds for trading, for investing and living off of, then it is more likely that he is able to demonstrate that he is successful if he has those funds set up in sustainable kinds of ways and they are of sufficient size to provide for all of his needs.

Quote from: batang_bitcoin on Today at 11:37:45 AM

Quote from: SuperBitMan on Today at 08:22:58 AM

If someone has been consistent in his or her accumulation and holding for 4 years and above there's nothing wrong in taking some profit from from his Bitcoin investment, the only wrong thing is selling everything and start all over again.
Some people are always tempted to dip hands into there Bitcoin investment and the reason for that is because they are facing some financial challenges if someone has money to settle his financial issues when ever they come up they won't dip hands into there Bitcoin investment so having a good source of income and also backup funds helps one prevent dipping hands into his Bitcoin investment.

This is what hit me before. To be honest, I have accumulated quite a lot in the past and then sold almost everything but then, I was able to recover it and started to realize that I shouldn't be doing that whenever I sell because BTC is a life changing asset and anyone who holds it gets the freedom that they want, financially and emotionally.

It is difficult to get out of the mindset of wanting to sell large amounts of BTC, so frequently a guy will see something like 5x or greater profits in dollars and then want to lock them in, but then later realize that he sold too many BTC too soon since he was not able to buy back lower and then he might even end up spending the BTC on inferior assets or consumption items.

Sometimes we can still end up making mistakes of selling too much too soon, but we might still be better off because we end up in a bit more or a diversified situation, as long as we ended up hanging onto a large majority of our bitcoin, yet even that can be quite difficult to figure out how to do it, and not end up selling too much too soon in the context of still building towards our entry-level fuck you status.. or even getting to multiples of our fuck you status.

So if I look at your forum registration date, and I see early 2016, so you could have had some good BTC accumulation possibilities in 2016, but still it can be scary to really accumulate bitcoin during those times and then also you might not have had gotten even lose to your entry-level fuck you status in 2017, even though the BTC price went up close to 50x during that time from $420 to $19,666.. .. .. yet it still can be difficult to get in at the bottom, and even if you ended up with an average cost of $1k per coin, you might have had been tempted to sell way too much too soon.. so then if you get back on track and you accumulate from 2018 through 2020, then you could have had been in a good spot for the 2021 price run.... but then there can be a lot of tinkering around, if you are not concentrating on accumulating bitcoin and making sure that you get enough or more than enough prior to starting to sell any... since the top of the 2021 run was right around $69k, it was not quite as high (in terms of percentage moves) as compared with 2017, yet the 2022 dip was quite disheartening in terms of how much time we ended up spending below the 200-WMA... yet through all of this time, there could have had been opportunities for you to have had gotten enlightened based on your past experiences, and perhaps you learned to accumulate bitcoin rather than to be trying to trade it or trying to get short-term profits.

I am not going to proclaim any of these kinds of matters are easy, which is frequently that I try to suggest to both newbies and to experienced bitcoiners to continue to concentrate on accumulating bitcoin until you are quite sure that you have enough and better yet if you can clearly figure out a way to assess that you have more than enough (and better if you use the 200-WMA as your BTC portfolio valuation method rather than spot price), then if you can figure out that you have more than enough, then you are in a better position to start to sell, and still depending where you are at, you want to make sure that you don't oversell, since you should ONLY be selling from your "overaccumulation" amount and not from your base BTC stash.

And once you really get to a place where you are only selling from your overaccumulation amount of your BTC stash, then it seems quite likely that you can be sustained from your overaccumulation stash, you can increase your standard of living and you can continue to reassess from time to time regarding how much you are able to authorize to withdraw, which likely would mean that as bitcoin continues to grow, you are able to draw more and more from your BTC (in terms of dollar value) but the dollar value of your BTC stash is ongoingly and continuing to go up in value way more than the amount that you are regularly withdrawing/spending from it. .. but you gotta build up your BTC stash first and have patience for it to grow and to continue to build it until it gets to a large enough size that you are able to separate out spending portions of it while continuing to keep most of your value in the main portions of your BTC stash.

Quote from: Miles2006 on Today at 04:04:31 PM

In summary it’s absolutely wrong putting bitcoin investment in place of a job.

You gotta get your investment to a high enough level before you can put it in place of a job, and that is called entry-level fuck you status.

Some folks might be concerned about whether they have accurately calculated their getting to entry-level fuck you status, so they may well want to have a cushion prior to pulling the fuck you lever (meaning quitting their job).

I personally believe that a lot of folks make mistakes in calculating their entry-level fuck yo status because they calculate based on BTC spot prices rather than 200-WMA prices, but yeah there can be a variety of ways to actually figure out if you have achieved entry-level fuck you status, make sure that you have enough of a cushion and if you only have bitcoin and cash, then your calculations would likely be different from someone who has other investments and/or other sources of income, so each of them might be added up and figured out how reliable it is in terms of amounts, figured out how much is needed to live (plus realistic calculations of increases in cost of living and increases in standard of living), and so there likely are needs to both try to calculate accurately and realistically, and most likely to have some kinds of cushions in the amount of wealth and/or various kinds of extra income (or investments) that goes beyond what is calculated to be needed.

It is not necessarily an easy task to figure out, and surely the amounts vary, so it can be challenging also in ways that these matters are valuated even if a person might believe that he is adequately accounting for the likely inevitable debasement of the dollar (and other fiats).

Even a trader who might quit any kinds of employment and conclude that he is able to sustain himself with his trading, these kinds of guys may well fail to adequately account for needs to continue to invest, even if he is trading and keeping some funds separate from the funds that he is trading, even though so frequently traders seem to get lured into traps of seeming to always want their money to be working for them, yet there still are some who are able to keep meaningful investment funds (or separate funds on the side) that they either consider as their income funds or their separate old age investment funds, so they have put systems in place that largely make their trading to be sustainable in terms of being able to quit their jobs.. yet so many guys seem to want to quit their jobs way before they have even established separate accounts sufficient to support their cost of living and their future source of retirement funds.

Quote from: inearth on Today at 04:17:58 PM

Quote from: EclipseXcrypto on Today at 12:58:08 PM

Quote from: Justbillywitt on November 18, 2024, 05:56:58 PM

Quote from: Dip69 on November 17, 2024, 03:35:57 PM

I think forums are not the only place to learn about Bitcoin or Crypto. In the age of the internet, it is not difficult to learn anything. I think we all come together on forums to share our little knowledge with others and increase our knowledge. Isn't that right?

Yes agreed but this is the place where it all started and I think that there is a reason why this place existed. Even Satoshi Nakamoto has an account in this place because he knew that this is the place to get credible and reliable information and knowledge about bitcoin. You can learn about bitcoin in YouTube and wherever, but it can never be the same as the way it will be in this place. Here you have access to different people contributing their knowledge about bitcoin and most of these people don't have YouTube channels. So if you rely on YouTube alone, you will miss out on their wealth of knowledge.

Mind you most of the guys you see posting and talking about bitcoin in YouTube do come here copy contents to post and talk about in their channels. Like it or not, there will be a big difference between the person who dedicate his time to learn about bitcoin here in this forum, and someone who rely on YouTube and other means to learn about bitcoin. Here you can always ask question whenever you have any or confused about a particular subject and you will get answers from different people who are more knowledgeable about your questions. But in those other places like YouTube you don't have that opportunity to ask any questions. Here is more like an interactive session with others.

The interactive nature of this forum makes a huge difference. While YouTube has its benefits but it can't match the real time discussions and the ability to ask questions and get immediate feedback from knowledgeable members of the forum. It's like having a live classroom where everyone contributes their thoughts, which really enhances the learning experience. That depth of engagement in the forum, is what sets this forum apart. The knowledge from this forum can be incredibly reliable for succeeding as an investor, One can truly thrive with the knowledge gained from this forum. It's all about applying it effectively, the insights and strategies shared here can empower anyone to make good decisions and succeed as an investor in Bitcoin. When you combine the insights from various contributors with your own research and strategies, it really sets a solid foundation for making good decisions in your Bitcoin journey.

This forum is an educational environment, where all professional and experienced members help all the newbies, a newbie can gain much better knowledge about crypto from this forum which he can't get from other places like youtube videos. Through the advice of professional and experienced members in this forum we can understand crypto more deeply. However, you must try yourself. We can get the complete idea of investing in Bitcoin from a thread in this forum. I have been on this forum for a while, before coming on this forum I didn't know much about bitcoin investing, but after researching this forum for a few days I got a better understanding of bitcoin. So we can take this forum as a guideline to learn crypto well.

I doubt that we need to give any shits about crypto.. unless we figure out what bitcoin is first, and sure there are forum threads in which you can talk about shitcoins. Hopefully in the bitcoin threads you know what bitcoin is and you know that if you use the term crypto without clarifying what you are talking about, then you look like a dumbass or someone who is purposefully being vague and/or misleading people, so hopefully guys here know that there is a difference between bitcoin and shitcoins and it is better to clarify what you are talking about, even if you are wanting to refer to shitcoins.. but more likely if we are in a bitcoin thread, then there is no need to refer to various shitcoins unless there is some kind of a specific point that is being made about how those shitcoins might relate to bitcoin.

Learning can come in either direction, and even persons who are brand new to bitcoin might have other investment and/or life (cashflow) management experiences that they can bring into the mix of our discussions.. but yeah sometimes newer forum members might need to study various topics a bit more in order to make sure that they are figuring out ways to make points that are interesting to other members rather than making posts that are not really providing anything meaningful to the conversation, which also might mean to recognize what other forum members are saying, since sometimes there might be several of us who post on the same topic, which sometimes I feel bad if I end up repeating saying what another forum member had already said...so sometimes I might end up having to go back and edit my post if I see that another member said the same thing as I had said... so I might either acknowledge that the other member already said it, or maybe I will think about some new information to provide that will still try to allow my post to be useful, even if my post is saying similar things as some other member(s) had said.