Quote from: MusaPk on May 11, 2025, 11:50:06 AM

Quote from: JayJuanGee on May 06, 2025, 02:26:30 AM

Quote from: MusaPk on May 05, 2025, 09:27:53 AM

How many Bitcoins are enough for a person is a subjective thing. For a person like me who hails from South Asia, 5 Bitcoins will be sufficient but a person living in USA or EU has different criteria of enough Bitcoin.

Once you figure out how much you need, then it is no longer subjective. If you say that you want an income of $20k per year right now, then that would be right around 4-5 bitcoin, like you mentioned, and if you need $80k per year of income starting now, then you need 17.166 BTC and if you have 1 or 2 more BTC, then you have enough of a cushion to feel confident that you are always withdrawing from the overaccumulated amount rather than at any point selling too much BTC too soon.

So the first thing we need to do is to figure out how much bitcoins are sufficient for us? I have done that work, 4 to 5 Bitcoins are good enough for me based on my geography where I live. Likewise everyone of us must figure out how much Bitcoins will be good enough for everyone of us.

I think that part of my earlier attempted point is that the amount that you need likely remains a moving target. If you feel that you need 4-5 bitcoin today, then that likely would not be a very accurate calculation if you might have ONLY accumulated 1.5 Bitcoin, and so you are quite a ways from the goal, and so if you are thinking that you will be able to accumulate 4-5 bitcoin in the future - like maybe 10-15 years from now, and so far in your bitcoin journey (let's say nearly 3 years), you have ONLY accumulated 1.5 BTC, then it could be quite difficult to reach 4-5 bitcoin in the next 10-ish years.

On the other hand, if you are close to reaching your goal (such as you have already gotten to 3 BTC in the past nearly 3 years), then sure, it may well well be possible to reach 4-5 bitcoin in the next 4-ish years. Perhaps? perhaps?

I am a little unclear about your proclaiming that you need 4-5 bitcoin, unless you are already close to reaching such staus, yet if you have gotten close to 4 bitcoin and you are not sure whether 4 or 5 bitcoin is enough, then there is quite a bit of difference between 4 bitcoin and 5 bitcoin, unless you are trying to suggest that you need 4.5 Bitcoin, and if you are close to reaching 4 bitcoin, then it could still take you another year or more to accumulate another 0.5 BTC.

In the meantime the quantity of bitcoin needed is going down for certain salary levels. I would suspect that a quantity of 4.5 bitcoin in 3 years would be able to support an annual salary of right around $40k per year (even accounting for the ongoing expected debasement of the dollar).

Quote from: MusaPk on May 11, 2025, 11:50:06 AM

Quote from: JayJuanGee on May 06, 2025, 02:26:30 AM

Quote from: MusaPk on May 05, 2025, 09:27:53 AM

But that's correct that once you are having enough Bitcoins then don't go for aggressive accumulation of Bitcoin because all of us are gathering Bitcoins to achieve a specific target and if you already have achieved that target then just relax. It might be a good point for you to start selling some portion of your Bitcoins to enjoy the result of their hard work .

That sounds correct. Once you reached overaccumulation status, you no longer need to accumulate bitcoin, yet you still might have to figure out how you are going to manage your bitcoin so that you don't sell too much too soon.

That's very important stage i.e. once you have that over accumulation status or you have your specific number of Bitcoins, you have to figure out the strategy of how to maintain balance between the number of Bitcoins you hold vs the one you sell. If one can't maintain that balance then very soon he will run out of Bitcoins he accumulated over years.

Part of the reason I suggest to figure out what your income would be in terms of the dollar amounts that you want to withdraw on an annual basis, then you likely could figure out if it is sustainable for you to withdraw that amount and if you don't have enough bitcoin to cause your targeted amount to be sustainable, then you have to either accumulate more BTC until it is enough, or reduce your withdrawal amount until the BTC value grows to an amount thata allows you to withdraw a higher dollar amount... which is another reason that I suggest using the 200-WMA to calculate the maximum amounts of BTC that you are able to withdraw without causing your bitcoin total to be depleted below overaccumulation status.

So even right now, if you had exactly 4.5 BTC, then you should not be withdrawing any more than $21,100 per year in order to make sure that the amount is sustainable and that you are ONLY withdrawing from your overaccumulated BTC stash amount. Of course, if you withdraw less than $20k per year, then it is likely that your eligible withdrawal amount would grow faster than the debasement of the dollar. ... so for example, if you were to only have 4.5BTC right now and you were withdrawing at $15k per year, then you likely would have enough of a cushion that you could increase your withdrawal amount by 10% every year for several years into the future and then to reassess how well your BTC stash has been holding up with that level of income from it. In the end, you have to figure out the extent to which your withdrawal rate is sustainable or if you are overly depleting your bitcoin stash beyond sustainable amounts.

Quote from: harapan on May 11, 2025, 03:00:41 PM

Quote from: DeathAngel on April 17, 2019, 04:05:56 PM

I’m constantly buying when I’m able to. In a few years the current price will seem like a joke. Anybody who isn’t buying now will majorly regret it.

I believe a lot of procrastinators are now regretting the fact that they couldn't buy as at when Bitcoin price was lower and now it's heading towards $190k,how is it possible for them to buy at this rate though,well it depends if they are financially buoyant. But for me I don't have any regrets cause I've been able to make use of the opportunity of buying and holding.

Well. If you had been accumulating bitcoin since your forum registration date in mid-2017, then surely, you may well could have had put yourself into a pretty decent position by now with the size of your bitcoin stash, yet if you had not gotten enough bitcoin during the last nearly 8 years, then you have to keep accumulating bitcoin through buying. Sometimes it does take longer than 8 years to build up a guy's bitcoin stash to a sufficiently high enough size.