Of course, you can do what you like, and you might even win on a few occasions, yet I doubt that trading it s good strategy when it comes to bitcoin.  You are rolling the dice each time you make your various bets.  Of course, there can be ways that you bet in both directions.


There are probably better threads that deal with trading/gambling, but yeah, it is not off topic hear for you to talk about your supposed smart strategies in playing the waves, and i have a hard time believing that you are fucking around with trading and then when you get a certain level of profits (like $100), then you will fold that into bitcoin and then continue gambling/trading with your other capital.. So for example you start out with $25 and you trade it until it reaches $100 and then put it into bitcoin... That might not be a bad system if that was what you were really doing, but I doubt that.


Yes.. it can be fun to gamble, and even to play around with a certain percent of your BTC holdings.. hopefully no more than 10% of your bitcoin holdings, without cheating.. yet of course, you are playing around with much larger amounts, as you mentioned.  And, you also mentioned that you were not very rich.. so presumptively you are trying to accumulate more bitcoin, yet you may also be trying to accumulate more dollars..   You might not even know the difference since you are caught up upon short term value... but yeah if you have been into bitcoin since September 2018, you surely have had some opportunities to really build up your holdings, but instead you are more likely spinning your wheels and not even outperforming a more strict accumulation through buying and hold strategy, that does not involve trading and/or selling.

Of course, if you would have had an ability to front load your bitcoin investment you could have had done even better, yet if we might imagine that you might have only been able to get something like $50 per week into bitcoin and you had focused exclusively on buying bitcoin from September 2018 to present, then you would have invested right around $18k and you would have still accumulated close to 1.2 bitcoin... so I have my doubts that your fucking around with trading has done better than that.

Maybe part of your problem is that you are not able to find employment to give you an income so that you have discretionary income and that you can actually invest into bitcoin.. yet it takes a long time to build up a bitcoin holdings, and it likely takes longer if you are gambling with high quantities of what you had already accumulated.., you are likely not to make progress with your spending a bunch of time trying to figure out squigglie lines... but yeah, of course, do as you wish.


You are giving even mor reason to justify not fucking around with selling - except maybe to test your liquidity from time to time, yet, you likely would be better off to just keep accumulating and putting your bitcoin on the side, and maybe at some point in the future, you will haver more options to use your bitcoin without fears of reprisals.  For sure, we know that some jurisdictions are hostile to bitcoin, and so one of your calculations regards how to deal with such current hostilities, and maybe considering the extent to which you have to keep your bitcoin in a more private way and to assure that you are not drawing attention to yourself.

Sure another option is that government hostilities are too overwhelming and you are having difficulties figuring out ways to secure your bitcoin.  People are frequently left with difficult choices, and probably even harder choices if your local government is outwardly hostile to bitcoin.


Your choice.. but you are not getting the benefits of bitcoin's compounding value over a couple of cycles if you are extracting profits (milk) from it on too regular of a basis.  Yeah, sure maybe you are doing better because you get extra income from it, but you are surely not getting the full value and power of bitcoin.

Like I mention in my investment ideas thread and my post about compounding value, bitcoin prices have largely doubled close to 9 times since 2015 when bitcoin prices were at $250.. so that compounding value has brought close to 256x in appreciation.. which is way more than what you are getting when you are ongoingly shaving off profits and not allowing your coins to double in value a few times before you start to shave off profits.


One man's fun is another man's financial freedom, and so sure, you can have fun if you like, yet you might never be able to achieve power from bitcoin if your bitcoin is not building up over time, even if it might take you 20 years or more to build up a stash.  Sure some guys do not have 20 years and you do not need to have 20 years in order to be empowered by the building up of a bitcoin stash, which I usually suggest an investment timeline of 4-10 years or longer and not to be fucking around with short term moves.. .but yeah, you are going to continue to advocate for your way of doing it, when it comes off as a very much inferior practice and perspective about bitcoin.

ONLY you are able to figure out if your are ready, willing and/or able to pursue superior practices and to improve your perspective in the direction of investing rather than trading.


You seem to be arguing against yourself and the disadvantages of trading.

To the investor, it might not matter if the coins were bought at $55k, $60k or $70k.  Sure, it is better to get them cheaper, yet it is even more  better to continue to accumulate through buying on a regular, consistent, persistent ongoing and even aggressive way (as long as your cashflow management is in good order).  I tend to like weekly buys for those who are in their earliest years of BTC accumulation, but surely there can be ways to tailor that too.. .so for example you might have a shitty paying job, but you figure out how much you can invest each week, and then maybe from time to time you get some kind of bonus or are able to do some other kind of work and so maybe from time to time you might have an additional lump sum amount (besides your regular weekly buys) that you can consider the extent to which you will 1) buy right away, 2) defer by time (DCA) and/or 3) defer by price (buy on dips that may or may not end up happening).


Leverage increases your costs, so of course, you have to figure out your ability to pay back if the price moves against you.  A common form of leverage is a loan, and so sometimes if a person can get favorable terms such as a long terms and low interest rates, then it might make sense to enter into such a load to front load your bitcoin investment, yet you also need to have an ability to service the loan and/or pay it off at the end of the term if the BTC price moves against you.  Leveraging does not tend to be necessary in bitcoin, even though from time to time, it could be strategically employed, and of course, MSTR/Saylor employs leveraging, yet he tends to be able to set good terms, which are frequently beyond the capability of many individuals to negotiate such favorable terms.


I suppose you are learning through it, yet hard to know if you are pursuing a profitable strategy, and of course, you have to figure out those matters for yourself.


Well yeah.. There are surely some hazards with some strategies, and you have had so many opportunties to accumulate bitcoin over the past 7 years, yet you still seem to believe that trading is your path forward.  The longer that it takes you to figure out that you need to build up your holdings through ongoing buying, then the longer that you are likely going to be spending spinning your wheels, and yeah, if you really do have a low income (with low discretionary income) then it could take a long time to build up a bitcoin portfolio, so for example, if you are ONLY able to invest 10% of your income into bitcoin, it is going to take you 10 years to invest 1 year's income into bitcoin, yet if you are able to figure out a way to invest 25% of your income into bitcoin, then it will only take you 4 years to invest a year's income into bitcoin.. .

So one of the questions might be how much discretionary income can you achieve in order to really build your bitcoin stash, and really to focus on building rather than fucking around and having fun.   Sure, there can be some fun in there, but likely it is better to limit your funzies to less than 10% the size of your bitcoin holdings, and focus on the building rather than the fun part.. so that maybe we don't need to hear about the ways that you are not treating bitcoin seriously....because if you are spending less than 10% on your trading, then that is a less important part of your bitcoin journey, and you might get that to  be included in the way you think about bitcoin too.. both good practices and good thoughts. 

You are surely not the ONLY one who gets sucked into trading and even sucked into trading way more of their portfolio than would be deemed reasonable and/or prudent... not that you want to be prudent, when you are having fun, right?


For sure one of the challenges of self-custody is to be able to pass on the information in a way that is sufficiently clear in order to put the pieces of the puzzle together.  It is o.k. to put together the pieces of the puzzle after the person has passed (or becomes incapacitated) in such a way that it may well be clear that the pieces of the puzzle should be put together in order to gain control over the assets, which truly should remind us that there may well be persons who either already lost control of keys or will end up losing control of keys due to the likely inabilities of heirs to be able to figure out how to gain custody over the keys.


Just so guys understand how the BIP-39 passphrase works, you need the passphrase for any hidden wallet that you are retrieving.

Trezor is not the ONLY company that uses BIP-39 and also passphrases.

Now if you find the seed which is usually either 12 words or 24 words (though there are some other possible quantities), then you enter that seed phrase into a some compatible hardware device, then the standard wallet will show (that is the wallet that does not need a passphrase).

The Trezor and many other wallets can create an infinite number of hidden wallets, and each of those wallets is created (and then subsequently accessed) by using a passphrase... so anyone who is recovering a wallet with a passphrase then if he gets the seedword, then he has access to the standard wallet, but if he wants to get into any of the hidden wallets he has to know the passphrase or to be able to guess it.

Let's say that I had a wallet and the passphrase was W@Observer.  Then I could have another one with W@Observer1, and then W@Observer2,
W@Observer3,
W@Observer4,
W@Observer5,
etc etc etc.

Each one creates a new wallet.. with 10 or more sub accounts within each wallet for each account type (and they have like 5 different account types that can be recognized within each wallet, such as legacy, segwit, legacy segwit, taproot, coinjoin).  So each wallet can have 50 bitcoin accounts, and it also can be shitcoin compatible and recognize a variety of shitcoins with the same seedphrase.  Trezor allows the firmware on the device to be bitcoin only or to be shitcoin compatible.

The passphrase is case sensitive, so w@observer would create a different wallet from W@Observer.  If I am recovering, I need to know that I have to get the exact case correct, including that I can also use symbols in the passphrase.