Quote from: bitmover on December 29, 2024, 10:29:05 PM

Quote from: JayJuanGee on December 29, 2024, 08:12:42 PM

Quote from: bitmover on December 29, 2024, 06:55:28 PM

Quote from: Poker Player on December 29, 2024, 03:43:39 PM

It happened to me the other way around when I was younger. I spent a lot of money on bullshit because I didn't know if I was going to die tomorrow and with hindsight that money spent didn't make me any happier.

No, this is not what the book is about.
People who waste money in bullshit aren't the target audience of the book.

This book is written for people who invested a lot of money over the life and should review their accumulation goals.
I believe especially people who focused since early professional life in the FIRE moviment , quite common in my generation, which many people live a very frugal life saving a lot

We still have to be careful not to overly read into a book that might not sufficiently account for needs to make sure that we stacked enough BTC first, and surely if you had been stacking BTC the whole 7 years of your time of being on the forum, then sure it could be true that you have gotten to a point in which you have accumulated enough BTC or more than enough BTC, so then you can start to cash out some of those BTC, yet I have my doubts that you have had been heads down stacking BTC for the past 7 years, yet maybe that is too presumptive of me.

Based on your location, I understand that you likely have not been able to stack $100 per week of bitcoin over the past 7 years, and even if you had been able to stack $100 per week you would have had invested $36,600 and you would have right around 2.715 BTC. Would that be enough BTC to start to live on it rather than to continue to stack for another cycle or more? I wonder. I am not trying to "I gotcha" on any of this because you are in a better position to know yourself, and surely it is possible that any of us might have been able to outperform a DCA strategy if we had been able to front load our BTC investment, and I can consider a variety of scenarios in which a decent amount of front loading could have had been done in order to result in about a $36,600 budget to have had resulted in more than 2.715 BTC, for example anyone who might have had been able to front-load their investment in a shorter timeline.

I think that this gets too personal, but, I was able to stack more than that per week just through signature campaigns... which used to pay much more than that less than 1-2y ago.

Anyway , I know that many people get troubled with the idea of spending money before they get old. It is worth reading, for sure.
Because hitting your ATH of saving at 75y is certainly a waste of life.

Surely, I am not trying to get into too many personal details, yet I am also attempting to describe some of the difficulties that anyone might have when they might be in a situation in which they might not have access to large amounts of discretionary income, so really the exact amounts that I was using are not really as relevant as might be trying to fit such amounts into a kind of realistic goal that a guy might have, and surely you continue to make straw man arguments to the extent that you continue to proclaim that any of us would be asserting that you need to wait until your elderly years before you might start to tap into your bitcoin.

There can really be an issue for any guys who might be in their 20s, 30s and/or 40s to pull the fuck you lever too soon and to conclude that they are able to spend whatever amount of savings that they had, and many times the mistake comes from failing/refusing to consider their withdrawal rate in sustainable ways so that they ar not tapping into their principle, and you seem to be down playing those concepts and even suggesting that there is no problem in terms of spending your principle - yet guys like that frequently will end up blowing their wadd way too soon, and I personally don't even disagree with the idea of dying on zero, yet would you really want to be living miserably for the final 10-20 years of your life without many options based on your own failure/refusal to defer some gratification along the way and to spend within a budget rather than going balls to the walls and overly spending because you wanted to make sure you got plenty of enjoyment during your younger years.

I have mentioned several times that traditional financial systems allow for a 4%-ish annual withdrawal rate, which means that you have to have 25 years worth of your income/expenses saved up before you are able to completely live off of those traditional investments in a kind of perpetual way... .and so these are ways not to deplete your principle until it comes to a time that you might see that you ONLY have a few years left (to the extent that you might foresee your demise and then start to deplete your principle at that time.

To me it seems that any of us could withdraw from bitcoin at 10% per year as along as we are valuating based on the 200-WMA, and [ur=https://bitcoindata.science/withdrawal-strategy?U2FsdGVkX19JF9hIp6c1wD2SFozpv16iaHWd+OrlZHPGhCa3EadaK6Dv6fuLRbLViAq1QfFtdajqnKifucShgA==l]so if our fuck you status is to have $6,666 per month of income, then we would need to have $800k in value, which is currently at 18.75 BTC to achieve such results[/url]... You could choose to have a different target such as half of that amount which would require half as many BTC and generate half as much monthly income.

So, there is nothing in the requirement of sustainable withdrawal that you have to get to an older age before you can start to draw upon you BTC. You should just be keeping your head to the grindstone and stop fucking around with cashing out your BTC too soon. Keep building it until it gets to the required amount, and the sooner you are able to do that then you can engage in sustainable withdrawal rather than prematurely depleting your principle.

To me, you (and your ideas) sound way too prone to wanting to prematurely deplete your principle and to conclude that to be a preferable way to live since you are so inclined to buy into the idea that you need to make sure that you enjoy your bitcoin prior to them getting to a sufficiently large enough level... which on the surface seems like inabilities to defer gratification to me.. rather than really making sure that you have enough BTC prior to starting to spend them. .which you may well be close to such a place with your 7-ish years of BTC accumulation, yet for some reason I have my doubts, since you keep implying want to start to deplete your principle rather than really wanting to think through how you can have your cake and eat it too, so long as you are able to get your BTC stash to an amount that the sustainable withdrawal amount can completely support your lifestyle...

and maybe we can just agree to disagree on some of this stuff in regards to how much is enough, since it becomes even more difficult when I am throwing out numbers to support my points but you are not throwing out numbers, and there is no reason to have to conclude that you are specifically referring to your own circumstances with whatever numbers you use.

To me, you seem to be wanting to engage in some kind of moderation of your income from your BTC, yet you seem to think that you have a formula that will accomplish such, but we still do not have any numbers with which to work, which causes me to both conclude that you are wanting to spend beyond sustainable levels, and that you also are considering that some extra that you might withdraw would be used to buy back BTC cheaper.. which surely those kinds of gambling techniques might end up working out, yet on a personal level I get somewhat concerned to have those kinds of risk taking in the way that I manage my own BTC holdings, so I consider that any BTC that I sell is not likely to be bought back at cheaper prices... even though for sure within the tool you can see actual on the ground numbers that give you the spread between BTC spot price and the 200-WMA in order to potentially help you for trying to figure out levels of overheatedness and also levels of underheatedness as a potential way to trade, which may or may not end up working out, especially since there is likely already a problem of insufficient accumulation for any guys who are selling BTC with expectations to buy back cheaper. .it both causes guys to sell too much too soon, but it also throws guys off of a needful focus to keep their heads to the grindstone of ongoing, consistent, persistent and perhaps even aggressive BTC accumulation until the reach a sufficient target to give them their desired abilities to sustainably live off of their BTC holdings.