The Bubbly Bitcoin Thread -- Merged Threads

[markyh]

2 hours ago, jiltedjen said:

I will be early 30’s mortgage free, and able to get married. from that point on I will be living life on ‘easy mode’

i could cut down hours at work (but I won’t) 

I’m in a 5 year fix mortgage with three years left, I will probably leave a tiny bit on the mortgage for the sake of cheap borrowing, if I ever feel the need, or need a new roof etc. 

mom a simple man really.

the key is to get out before it blows off, which I think it will any day now. 

 

Good luck, before you sell all, true fact, from Birth to 21, each kid will cost you £200k. Still think you have life changing amounts? Family holidays for 4 abroad once 2 kids are above 3 years old are £3k+ a pop for a reasonable holiday.
 

If you partners parents are not wealthy, expect to pay for tour own wedding, mine cost me £20k. And that was in South Africa before the GFC. 

full time nursery costs are about £800 pcm+ for 4 years until school starts, per kid. 

Just my two pennies worth. It’s easy to feel well off when it’s just two of you un married. 
 

my wife spunked £10k twice on credit cards  within 3 years after our first kid due to post natal depression. 
 

Marraige and 2 kids could easily cost you £500k over the next 25 years if you want to lead a middle class life. 
 

Trust me, I have all the bills to show for it! And we are only 14 years in out of 25. 

[Huggy]

7 minutes ago, longgone said:

Regardless of price, i`m glad that you have spotted eventually they are going to try and tax it into the ground like everything else.  

i see 3 points negative for it CGT and its priced in dollars and the third it makes you a target if they know you have it.   

The little guy is only allowed so much after all. 

They might tax it, they might not. They might tax everything, or they might not. Bitcoin might go to £100k by the end of March, or £10k. This isn't the Brexit thread remember, future fantasy possibilities still don't equal valid reasons for doing something. Paying off a mortgage is most definitely a non-fantasy and most definitely will happen (if JJ can sort out the sales that is!), but the government taxing crypto holders until they scream might happen or not. You sell because of the former not because of the latter.

Happy to hodl until it becomes life changing, then happy to sell. I think most will be in the same mindset. If I get on the wrong side of some tax legislation, bad luck for me.

[longgone]

7 minutes ago, markyh said:

Good luck, before you sell all, true fact, from Birth to 21, each kid will cost you £200k. Still think you have life changing amounts? Family holidays for 4 abroad once 2 kids are above 3 years old are £3k+ a pop for a reasonable holiday.
 

If you partners parents are not wealthy, expect to pay for tour own wedding, mine cost me £20k. And that was in South Africa before the GFC. 

full time nursery costs are about £800 pcm+ for 4 years until school starts, per kid. 

Just my two pennies worth. It’s easy to feel well off when it’s just two of you un married. 
 

my wife spunked £10k twice on credit cards  within 3 years after our first kid due to post natal depression. 
 

Marraige and 2 kids could easily cost you £500k over the next 25 years if you want to lead a middle class life. 
 

Trust me, I have all the bills to show for it! And we are only 14 years in out of 25. 

i can see why you HODL now 😂

[longgone]

3 minutes ago, Huggy said:

They might tax it, they might not. They might tax everything, or they might not. Bitcoin might go to £100k by the end of March, or £10k. This isn't the Brexit thread remember, future fantasy possibilities still don't equal valid reasons for doing something. Paying off a mortgage is most definitely a non-fantasy and most definitely will happen (if JJ can sort out the sales that is!), but the government taxing crypto holders until they scream might happen or not. You sell because of the former not because of the latter.

Happy to hodl until it becomes life changing, then happy to sell. I think most will be in the same mindset. If I get on the wrong side of some tax legislation, bad luck for me.

What possible reason would they not tax it. ? none of their voters use it.  

if i was them i would tax it. it does not benefit our debt based system after all. 

 

[Huggy]

4 minutes ago, longgone said:

What possible reason would they not tax it. ? none of their voters use it.  

if i was them i would tax it. it does not benefit our debt based system after all. 

 

I'm not saying they won't, I'm saying that making decisions based on nothing but a bad feeling isn't too good an idea. Selling because you can pay off your mortgae, buy a house, retire etc is a great idea.

This tax things is simply trying to time the politicians. It'll work out as well as trying to time the markets, and you might miss out on paying off your mortgage, buying a house, or retiring if you do!

[BufferBear Bitcoin Bull]

26 minutes ago, warpig said:

I'm sure it's being discussed by the BTC architects... they're not doing their job if they're not considering it. If I was a BTC developer I'd start considering a true P2P VPN network, specifically for BTC, much like the TOR network, but the development time isn't insignificant.

I'm sure they've thought of what is required to secure the blockchain.

 

[MonsieurCopperCrutch]

2 hours ago, jiltedjen said:

Also I have head exposure to other bitcoin chat forums, the majority of new investors know nothing of the basics and are piling in morons. 
 

these are the flighty types than panic buy and panic sell.

the fundamentals of bitcoin are strong, but a culling of the newer investors is now due, in fact I’m panicking that the price has reached blow off stage already, and I left it too late to realise my gains by the time the exchanges let me in 

Personally I think that you are looking too much into it and panicking a bit if this was not part of your original exit strategy, but I respect your decision. You have to do want will make you happy at the end of the day. How many are you looking to sell? Whatever you do do keep some aside. Going full Traktion you could live with much regret. 😀

[BufferBear Bitcoin Bull]

25 minutes ago, markyh said:

Good luck, before you sell all, true fact, from Birth to 21, each kid will cost you £200k. Still think you have life changing amounts? Family holidays for 4 abroad once 2 kids are above 3 years old are £3k+ a pop for a reasonable holiday.
 

If you partners parents are not wealthy, expect to pay for tour own wedding, mine cost me £20k. And that was in South Africa before the GFC. 

full time nursery costs are about £800 pcm+ for 4 years until school starts, per kid. 

Just my two pennies worth. It’s easy to feel well off when it’s just two of you un married. 
 

my wife spunked £10k twice on credit cards  within 3 years after our first kid due to post natal depression. 
 

Marraige and 2 kids could easily cost you £500k over the next 25 years if you want to lead a middle class life. 
 

Trust me, I have all the bills to show for it! And we are only 14 years in out of 25. 

Ain't that the truth! 

[MonsieurCopperCrutch]

50 minutes ago, Frugal Git said:

Cup and handle, death cross, fib levels, retracements. It’s just so ridiculous. 
 

I think gold will go up in the near term, because everyone is so bearish, so I agree on the move.

It's all tea-leaf BS if you ask me.

[MonsieurCopperCrutch]

2 minutes ago, Buffer Bear said:

I'm sure they've thought of what is required to secure the blockchain.

 

Satellites have already been launched and transactions can be broadcast through radio transmissions. Still a lot of work to go but decoupling Bitcoin from the internet has been active development for a few years now.

[BufferBear Bitcoin Bull]

 

Saylor's view is that halving events are no longer relevant for institutional investors. If time is tight, watch from 110:00.

Saylor says, there are probably 10k people in the world who can put 10bn on the network. Every model and all the history is now irrelevant if any of these people (PayPal - Schulman, Ray Dalio, Coinbase).  They overwhelm any statistical models.  Nor does he believe there will be falls anywhere near 80%.  Thinks we will be lucky if it ever falls under 40k. He also has an interesting perspective on mining.

https://www.bridgewater.com/research-and-insights/ray-dalio-what-i-think-of-bitcoin (Dalio's current view)

Edited February 21, 2021 by Buffer Bear

[markyh]

8 minutes ago, Buffer Bear said:

Ain't that the truth! 

Listen to the wise lady, we are most likely in similar stages in life, and a nice comfortable  family life in the top 20% of the Uk is not a cheap business. 

[BufferBear Bitcoin Bull]

21 minutes ago, MonsieurCopperCrutch said:

It's all tea-leaf BS if you ask me.

@MonsieurCopperCrutchtake a look at the Safedean and Saylor interview.  Not much of an interview as Saylor hogged the show. 😏😀

Go to 1:25.  If correct, he just schooled Saifedean Ammous 😮

Edited February 21, 2021 by Buffer Bear

[MonsieurCopperCrutch]

7 minutes ago, Buffer Bear said:

@MonsieurCopperCrutchtake a look at the Safedean and Saylor interview.  Not much of an interview as Saylor hogged the show. 😏😀

Thanks I'll watch the first half tonight. I already have Safedean's book The Bitcoin Standard. Not sure if I recommended it yet to you. 

[BufferBear Bitcoin Bull]

Yes, it arrived last week. No read even a page. 🤨

@jiltedjenI just heard Michael Saylor say emphatically at 1:27: "don't sell your Bitcoin!"  Listen the video as part of your knowledge base for making your decision. 

Edited February 21, 2021 by Buffer Bear

[BufferBear Bitcoin Bull]

16 minutes ago, markyh said:

Listen to the wise lady, we are most likely in similar stages in life, and a nice comfortable  family life in the top 20% of the Uk is not a cheap business. 

That's me.  

[Frugal Git]

19 minutes ago, markyh said:

Listen to the wise lady, we are most likely in similar stages in life, and a nice comfortable  family life in the top 20% of the Uk is not a cheap business. 

Hehe - indeed.

I just put our household into the IFS ‘where do you fit in’ site.

net household income of 5k a month after tax/ni/pension, and a larger than average brood of kids ....we are bang on the median - 50% richer, 50% poorer than us. Interesting it doesn’t ask ‘what do you put in your pension?’, but still - an eye opener.

Ouch. Remove the kids and we go to top 9%. Remove the girlfriend, and I’m up to top 2%. Tempting 😂 

Edited February 21, 2021 by Frugal Git

[BufferBear Bitcoin Bull]

 

With a household after tax income of £-x08 per week, you are among the poorest 1% in the population. 

Ahh, so that's why I feel poor! 😂

[jiltedjen]

My biggest concern is that I feel like I would be abandoning the revolution, until I realised I have myself added several to the ranks, I have educated plenty of people. I have done my part. I have been ridiculed, and ignored etc. I have caused people to sell their alt-bags and they have been thankful. it’s going to just fine without me holding as much! 

and actually cashing in, and being one of the success stories actually will probably do more good than trying to keep explaining and defending bitcoin. 

‘did you here jiltedjen paid their mortgage off? with bitcoin?!?’

the success stories is what will drive bitcoin adoption as a value store far more than any preaching I do, it appears to more to the human elements than the logic elements. 

I think we are just about past the stage when the only thing holding bitcoin together in the lows was the steel-balled holders. 

it’s time to sell down. I will always own bitcoin and continue to sing it’s praises, but from a point where I’m free of the shackles of the worst of the fiat debt system.

plus if bitcoin eventually goes where I think it’s going, then have a much smaller allocation will still pay off handsomely in 10 years anyway. 

I agree the fundamentals are sound, they are, but the price is now detached, it’s the WSB type morons piling in, flighty no-nothings, the price will correct sharply at some point. 

at some point you have to realise your own moon. ultimately life is too sort to hold forever, be that due to greed, or due to wanting to rebel against a broken system. 

house-prices have dictated my life toxically for 10+ years, and those should of been my best years. it’s time to live a bit.

and I’m actually a fairly humble bloke. Time is worth more to me than things,  I was close to reaching the point that like a wild horse being broken in by work and the fiat system, but being free of the worst of it is brilliant. 

the rich are often rich as they move through life feeling confident and entitled to what life has to offer, a confidence knowing that whatever risks you take you will be fine anyway.

knowing that I’m not weighed down my crushing debt will mean I will feel more confident to take risks in life, to stop putting off kids, to get married as I won’t need such a big emergency fund without having to worry about mortgage payments. 

to be fair it’s just feels really nice feeling proven right. 

[BufferBear Bitcoin Bull]

6 minutes ago, jiltedjen said:

 

At some point you have to realise your own moon. ultimately life is too short.

house-prices have dictated my life toxically for 10+ years, and those should of been my best years. it’s time to live a bit.

and I’m actually a fairly humble bloke. Time is worth more to me than things.

knowing that I’m not weighed down my crushing debt will mean I will feel more confident to take risks in life, to stop putting off kids, to get married as I won’t need such a big emergency fund.

 

These are the four points that struck me.  This is clearly a massive decision for you.  Good luck. 👍😁

Edited February 21, 2021 by Buffer Bear

[GreenDevil]

1 hour ago, longgone said:

What possible reason would they not tax it. ? none of their voters use it.  

if i was them i would tax it. it does not benefit our debt based system after all. 

 

 

1 hour ago, Huggy said:

I'm not saying they won't, I'm saying that making decisions based on nothing but a bad feeling isn't too good an idea. Selling because you can pay off your mortgae, buy a house, retire etc is a great idea.

This tax things is simply trying to time the politicians. It'll work out as well as trying to time the markets, and you might miss out on paying off your mortgage, buying a house, or retiring if you do!

There are places where you can take your crypto and pay no taxes at all.

And have better weather😂

[MonsieurCopperCrutch]

4 minutes ago, jiltedjen said:

My biggest concern is that I feel like I would be abandoning the revolution, until I realised I have myself added several to the ranks, I have educated plenty of people. I have done my part. I have been ridiculed, and ignored etc. I have caused people to sell their alt-bags and they have been thankful. it’s going to just fine without me holding as much! 

and actually cashing in, and being one of the success stories actually will probably do more good than trying to keep explaining and defending bitcoin. 

‘did you here jiltedjen paid their mortgage off? with bitcoin?!?’

the success stories is what will drive bitcoin adoption as a value store far more than any preaching I do, it appears to more to the human elements than the logic elements. 

I think we are just about past the stage when the only thing holding bitcoin together in the lows was the steel-balled holders. 

it’s time to sell down. I will always own bitcoin and continue to sing it’s praises, but from a point where I’m free of the shackles of the worst of the fiat debt system.

plus if bitcoin eventually goes where I think it’s going, then have a much smaller allocation will still pay off handsomely in 10 years anyway. 

I agree the fundamentals are sound, they are, but the price is now detached, it’s the WSB type morons piling in, flighty no-nothings, the price will correct sharply at some point. 

at some point you have to realise your own moon. ultimately life is too sort to hold forever, be that due to greed, or due to wanting to rebel against a broken system. 

house-prices have dictated my life toxically for 10+ years, and those should of been my best years. it’s time to live a bit.

and I’m actually a fairly humble bloke. Time is worth more to me than things,  I was close to reaching the point that like a wild horse being broken in by work and the fiat system, but being free of the worst of it is brilliant. 

the rich are often rich as they move through life feeling confident and entitled to what life has to offer, a confidence knowing that whatever risks you take you will be fine anyway.

knowing that I’m not weighed down my crushing debt will mean I will feel more confident to take risks in life, to stop putting off kids, to get married as I won’t need such a big emergency fund without having to worry about mortgage payments. 

to be fair it’s just feels really nice feeling proven right. 

Where are you seeing WSB type morons piling in? I'm just not seeing much retail at the moment. Even google trends are nowhere near 2017 peak:

 

 

[GreenDevil]

11 minutes ago, jiltedjen said:

My biggest concern is that I feel like I would be abandoning the revolution, until I realised I have myself added several to the ranks, I have educated plenty of people. I have done my part. I have been ridiculed, and ignored etc. I have caused people to sell their alt-bags and they have been thankful. it’s going to just fine without me holding as much! 

and actually cashing in, and being one of the success stories actually will probably do more good than trying to keep explaining and defending bitcoin. 

‘did you here jiltedjen paid their mortgage off? with bitcoin?!?’

the success stories is what will drive bitcoin adoption as a value store far more than any preaching I do, it appears to more to the human elements than the logic elements. 

I think we are just about past the stage when the only thing holding bitcoin together in the lows was the steel-balled holders. 

it’s time to sell down. I will always own bitcoin and continue to sing it’s praises, but from a point where I’m free of the shackles of the worst of the fiat debt system.

plus if bitcoin eventually goes where I think it’s going, then have a much smaller allocation will still pay off handsomely in 10 years anyway. 

I agree the fundamentals are sound, they are, but the price is now detached, it’s the WSB type morons piling in, flighty no-nothings, the price will correct sharply at some point. 

at some point you have to realise your own moon. ultimately life is too sort to hold forever, be that due to greed, or due to wanting to rebel against a broken system. 

house-prices have dictated my life toxically for 10+ years, and those should of been my best years. it’s time to live a bit.

and I’m actually a fairly humble bloke. Time is worth more to me than things,  I was close to reaching the point that like a wild horse being broken in by work and the fiat system, but being free of the worst of it is brilliant. 

the rich are often rich as they move through life feeling confident and entitled to what life has to offer, a confidence knowing that whatever risks you take you will be fine anyway.

knowing that I’m not weighed down my crushing debt will mean I will feel more confident to take risks in life, to stop putting off kids, to get married as I won’t need such a big emergency fund without having to worry about mortgage payments. 

to be fair it’s just feels really nice feeling proven right. 

Crypto has consistenly 10x every 4 years. Take your current valuation and x10. Are you sure you want cash out to pay off a debt that going to be inflated away anyway? 

[longgone]

6 minutes ago, GreenDevil said:

 

There are places where you can take your crypto and pay no taxes at all.

And have better weather😂

No need just tell HMRC to phuck off or investigate.

No dilly dally, worked for a family member 🤣

sadly another had to abscond

 

[goldbug9999]

20 minutes ago, jiltedjen said:

at some point you have to realise your own moon. ultimately life is too sort to hold forever, be that due to greed, or due to wanting to rebel against a broken system. 

house-prices have dictated my life toxically for 10+ years, and those should of been my best years. it’s time to live a bit.

Its all about opportunity cost, if cashing out some BTC enables you to do something today instead of tomorrow then keeping the BTC incurs an opportunity cost. For me I have enough money outside BTC, quite a lot of it sitting around doing nothing already, if I cash out now I'm just adding to the pile of money that isn't of any benefit to me.  That said I have some personal milestones like cashing in 1 bitcoin when it can pay off the mortgage, with IRs as they are though paying off a mortgage early is a very low yield investment that I would only do it I was literally rolling in money with nothing else to do with it.

Edited February 22, 2021 by goldbug9999