but I venture to say if someone went from 10,000 to 1,900,000 they may sell 50 coins or half.
950,000 and 600,000 after taxes works for many
That is why buying Bitcoin should be given the highest priority in the beginning, if you do not have coins, how will you sell them? So it would be most appropriate to invest in Bitcoin and collect only digits. If you give the highest priority to collecting Bitcoin, you will be able to sell it later as you wish, there will be no problem, after holding it for a long time, you can sell it in several steps. It is also very reasonable to sell it little by little several times according to the DCA method.
Everyone will not have enough energy in his body to earn income at the age of 60 to 70, that is why Bitcoin is most suitable for saving in the future. If he invests in it, he can definitely get rid of financial deficiency later.
my biggest gripe is I am 68.
my wife and i retired for the most part in 2012.
So saving and hodling btc skipping profit taking is less attractive.
but i still add to the pile via mining ⛏️ I have a good host and run gear with him.
I am almost half your age, I am surprised by the glimpse of your knowledge. Because you are almost at the end of your age and you have modern thoughts for Bitcoin investment. I can undoubtedly say that you are a wise person and you are full of modern knowledge about the future, although I have chosen this Bitcoin as an investment for my next life when I am old or equal to your age to eliminate my financial deficiency.
Philip has not been 68 years old for the whole time he has been in bitcoin. Phil got into bitcoin in 2011/2012 - so he was around 55-ish at the time that he got started in bitcoin... so stop trying to act as if he came to bitcoin at 68 years old, even though, sure even at the time that he got into bitcoin, he was still relatively old, but he was not 68 years old.. and so now after around 13 years in bitcoin, he might have gotten some shit figured out (perhaps?), and I don't necessarily want to rag on Phil since sometimes it can take a bit of time to figure out bitcoin, and even he says that he did not figure out bitcoin until 2017 (I suppose he would have been 60 at that time),
but still I believe that he still has not figured out bitcoin, since whenever you figure out bitcoin, it seems that you should focus on accumulating through buying only. Selling bitcoin in order to try to accumulate it, is not a good way to accumulate bitcoin, and Phil seems to not have had seen a bitcoin that he does not want to sell as soon as possible. He has a bit of a problem in that he still cannot defer gratification.
I do not know how long I will be able to live happily among you, but Bitcoin investment is the best, that is why Bitcoin investment should be given the most importance.
None of us know how long that we are going to live, yet it seems that if we are continuing to buy bitcoin on an ongoing basis, then any time that we buy new bitcoin, then we should consider that our investment timeline should be at least 4 years from the time that we make any new purchase, otherwise we are intent on trading rather than investing.
You can also get started without understanding it all
I disagree with you that anyone can invest into bitcoin without have any knowledge of bitcoin at all. You must have the basic knowledge of bitcoin before you can start your bitcoin investment or someone is there to guide you. If you don't know anything about bitcoin, how will you know that you are invest in a long-term and that the price is volatile and you shouldn't sell in panic whenever there's a dip.
This is the reason why a lot of people jump into bitcoin investment and think that it's a get rich quick scheme and run at loss because they fail to learn the basic knowledge of bitcoin and understand how they can plan on investing and hodli for a long-term.
I can take myself as an example, in the beginning when I heard about bitcoin due to lack of the basic knowledge of bitcoin, I thought that it's only for trading and never knew that investing in it for a long term plan is the best. I also invested in shitcoin because I don't know the difference between bitcoin and shitcoin because I didn't make any research. Anyone who wants to start his bitcoin investment must have the basic knowledge of bitcoin and increase his knowledge as he is building his bitcoin portfolio.
I have trouble understanding what basic knowledge you are proclaiming to be needed before getting started investing into bitcoin.
Your examples are 1) knowing the difference between trading and investing, and so how much of that do you need to know before getting started? Can't you figure it out as you go? 2) knowing the difference between bitcoin and shitcoin. How much do you have to know? Sure I agree that you have to likely focus on learning bitcoin first, and so yeah, you should start investing in bitcoin first before getting involved in shitcoins, and how much more do you need to know?
Why not get started and it is a bit unclear from your perspective what it is that a guy needs to know about bitcoin to get started. I am not going to proclaim that absolutely no knowledge is needed, so there might be some need to at least have some basic ideas about bitcoin being a growing phenomena that is ongoingly volatile in the short term yet has a long term trajectory that seems to be going up.. . yet the details can be figured out as you go, no?
It seems to me that the most basic things to know is whether or not you have discretionary income so that you are investing from within your discretionary income, and perhaps recognizing whether or not you are retarded in terms of your abilities to learn math as you go and/or recognizing abilities for you to be able to control your emotions, to the extent that might need some basic abilities to add and subtract and to think through basic problems to be able to learn and in order to make sure that you have a discretionary income and that you are investing within your discretionary income and not using money that you need for your expenses, since that would be trading/gambling rather than investing.
You can also get started without understanding it all
Dude let's say you're a teacher for instance, can you tell your students to write exams without preparing to an extent for the exams, I guess the answer is no, let's then relate this to bitcoin investment, if I understand you very well, were you trying to say newbies or intending investors should start up their investment without preliminary knowledge which is the basic knowledge we talk about here now and then, do you feel that there no reason for the basic knowledge, man if you think so then you don't understand the reason for the basic knowledge, you don't just jump into what you don't espacially when it has to do with investment such as bitcoin, there are little things you need to know not too hyper but basics to enable you start first and other extensive or further knowledge can come later and I believe that's how things are suppose to be done.
What is this basic knowledge that you proclaim is needed? I doubt that your exam analogy is very fitting.
Why cannot a beginner to bitcoin just adjust his position size to be smaller while he is getting started and getting more familiar with bitcoin and perhaps to increase his position size as he becomes more familiar and more knowledgable about bitcoin, to the extent that he believes that his greater familiarity justifies increasing his bitcoin position size?