Post
Topic
Board Speculation
Re: Buy Buy Buy or Sell Sell Sell?
by
Barikui1
on 20/11/2024, 07:12:20 UTC
However, if you are in your bitcoin accumulation process and have not reached your bitcoin target, it's impossible for you to say that you want to live on your bitcoin investment, because you need a job to continue accumulating more bitcoin and anyone without a job will not be able to invest in bitcoin and grow his portfolio, which will make you start selling too much of your bitcoin, too quick and you will regret your actions in the long run.
Even if you have reached your Bitcoin accumulation target never say fuck you to your main source of income. Whatever the level of knowledge we think we have acquire its a huge risk to quit our job. 90% of success in Bitcoin investment is long term, consistency and patience. Instead of quitting why not we continue a stable investment to live off or save for a business that you can rely on. The only time i can agree to someone quitting his job is if it is not a good paying job and when an individual has made enough to retire.

It seems to me that you are misunderstanding what it might mean to reach fuck you status, and surely you realize that you can quit your job if you have made enough to retire, so why is that different from quitting ones job when they have enough BTC?

For sure, the more BTC you have the more options you have in regards to income off of it, and there could be errors in calculating the value of your BTC, so surely there are a lot of examples of people who pull their fuck you levers way too early because they miscalculate how much BTC they actually need in order to live off of them and how to valuate them and to valuate their standard of living expenses (or increases in their standard of living due to debasement of the dollar/fiat or from chosen increases of lifestyle expenses).
Well even as a holder of Bitcoin, I haven't even thought of this, or contemplating of surviving on my Bitcoin holdings even when I have gotten the stash of Bitcoin I wanted, though at that point I might decide to be taking profit from it bit by bit after retirement, but not like depending on it fully for survival.
Because to me that's the easiest way to drain the asset you should be leaving for your offsprings.
So having another source of income or a business running for you is very much important, so that you wouldn't get to that point of draining your holdings after retirement.

Though I might be wrong, but having a good source of income as a man is something we shouldn't joke with regardless of your financial status or the stash of Bitcoin in our possession.
So in essence of what am trying to say is that regardless of anything, constant cash flow is very much important even when you have gotten to the top of your Bitcoin accumulation process.