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bitcoins

It was stated earlier in this thread. If you keep your crypto on exchanges it is vulnerable. The whole thing behind bitcoins creation was to custody it yourself and be your own bank. If it is on your own hardware device, the funds cannot be taken. Even if your device is taken. Take your security seriously and this is an impossibility. Hardware device or paper wallet with the seed in another secure area. Mine is buried somewhere in North America in a fire proof water proof container and my so knows where it is and how to get to the coins.
You have hackers, the government and all kinds of others trying to steal from you. FUCK. THEM. ALL. Take your security seriously if you are in this space.
 
Kind of hard to transact with it, if it it's burried somewhat like a treasure hunt thing.
 
Not really. 90% is there in cold storage. The rest is on a device to transact. Plus I can access my cold storage pretty quickly and move the coins. I can do this faster than I can take out 10k from the bank.
 
Imagine a world entirely inhabited by tech bros with a burgeoning environment fostering ideas upon idea and project upon project. Then imagine maybe 5%of those people have the real crypto world experience to successfully design a relatively safe product. Lessons are being taught, and it's not a surprise to people who know what is happening.
 
CABilly said:
I've never factored an inheritance into any of my planning. Honestly I'd rather my parents spend what they have to be happy and healthy than try to save anything for me or my siblings.

But as an investment, it make sense to diversify, especially in something that is on the cusp of major adoption. We see lots of empty offices and other commercial buildings all over the place. And who knows, BTC could be replaced or made obsolete or regulated into irrelevance (at least in the US, where it feels like our leadership is perfectly OK with us falling behind in every sector outside the military-industrial complex). But it could also continue its upward trajectory and change the world. I'd like a piece of that action.
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If parents stick to the 4% rule for retirement, then when they pass, that may mean instant retirement for yourself.

Depending on your expenses, siblings, avoiding probate, ect.
 
Killroy1999 said:
If parents stick to the 4% rule for retirement, then when they pass, that may mean instant retirement for yourself.

Depending on your expenses, siblings, avoiding probate, ect.
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What is the 4% rule? I'm definitely saving more than that and don't feel like I'll be happy enough at this point...
 
kingmoochr said:
What is the 4% rule? I'm definitely saving more than that and don't feel like I'll be happy enough at this point...
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It's probably to live to only draw about 4% from your holdings per year, assuming the average interest would be about 4% across good and bad cycles.
 
CABilly said:
It's probably to live to only draw about 4% from your holdings per year, assuming the average interest would be about 4% across good and bad cycles.
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Yes, the 4% rule is the safe amount a year you can draw from your invested nest egg without reducing that next egg, so you can live to very old age.
 
CABilly said:
It's probably to live to only draw about 4% from your holdings per year, assuming the average interest would be about 4% across good and bad cycles.
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"SWR"- "Safe Withdrawal Rate"- the rate at which you can draw on your investments without causing depletion of the principal. Generally estimated between 3-4% for most folks.

Example: If you want to retire on a net income of $100k a year, you'd need about $2.6mm in investments returning 4% a year to not be drawing down on the principal.

The below calculator can help understanding.

https://www.bankrate.com/calculators/savings/savings-withdrawal-calculator-tool.aspx
 
It doesn't hurt that with his announcement, it got a good bump up to 48k (saw it went over $50k earlier).

A few more strategic announcements by a few other plutocrats and the profits will be pretty tidy.
 
You seem to keep hearing the noise. Focus on the signal. You can now buy some kind of fund or bitcoin directly from almost all banks now. If not, they are working on it.
At what point will you conceded that you were wrong. Bitcoin is here to stay. Hopefully those reading and sitting on the sidelines will do their own research and not listen to those on barf. This thread has been going on since btc was under 2k over 4 years ago. We are at almost 50k and will certainly see 100k in the next year or two. Good luck to you and your families hard earned value. You will need it.
 
panthera said:
You seem to keep hearing the noise. Focus on the signal. This thread has been going on since btc was under 2k over 4 years ago. We are at almost 50k and will certainly see 100k in the next year or two. Good luck to you and your families hard earned value. You will need it.
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That’s some perspective right there. I’ve been beating the drum with friends that hobby and serious invest. Now our ETH and BTC is really showing gains (small initial investment) and my only regret is not cracking off more years ago.

Decentralized banking is happening. On or off the boat, your choice.
 
Just pulling it out my ass but my bet is that Etherium be the one to back with being more environmentally friendly and all that.
 
panthera said:
You seem to keep hearing the noise. Focus on the signal. You can now buy some kind of fund or bitcoin directly from almost all banks now. If not, they are working on it.
At what point will you conceded that you were wrong. Bitcoin is here to stay. Hopefully those reading and sitting on the sidelines will do their own research and not listen to those on barf. This thread has been going on since btc was under 2k over 4 years ago. We are at almost 50k and will certainly see 100k in the next year or two. Good luck to you and your families hard earned value. You will need it.
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Bitcoin is driven by perception, thus my post.

Earlier this year when it went up above $60k, it was because Musk had made a lot of noise about buying it.

I will continue to rise and fall on headlines and plutocrat interest. They ahve the power to make it more to a considerable degree, moreso that just about any stock, so they will. It's what ultra wealthy people do.

But, just as they can make it go up rapidly, they can also make it drop rapidly. I would not be surprised to find out, at some point, that there was a group of them coordinating their moves and knowledge to profit from it.

P.S. We won't know who's wrong or right for years, so there is no reason for either of us to claim victory or admit defeat.
 
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