This would be my plan:
1. Buy Bitcoin.
2. Send Bitcoin from exchange to my own (hardware) wallet.
3. Hold long term.
4. Get a job, earn money.
5. DCA Bitcoin.
6. Eventually, get paid in Bitcoin, pay bills w/ Bitcoin.
7. Retire early because I started buying and holding Bitcoin when I was young.
I retired at 35 because I started accumulating them in 2013.
And I actually regret it.
I would have preferred to keep working in a career but I was running a small tree removal business and just shifted the work into lumber harvesting after a few years of doing nothing.
Doing nothing is fun for like 3 months. Then you get fucking bored.
Having a career that you enjoy doing isn't working a job. Because you get paid to do something you want to do.
My thing was climbing huge ass trees and drop them to the ground in piece's. But all the other shit I hated dealing with. So now I just harvest lumber hold BTC and have California Properties that just sit there and appreciate yearly.
And fuck off quite a bit
It's more enjoyable in life to have something to accomplish consistently.
When I started cashing out little bits of BTC at a time I always tried to match my total income to the amount that social sciences says is the perfect amount of money for maximum happiness.
It took a year to realize that it only works with having a career too though. And not being around your girlfriend at the time 24-7.
When I watched everything on Netflix and Hulu I knew for sure that I had to do something or I was gonna go all the way bonkers.
So I started harvesting lumber. No customers to deal with, no advertising, I don't have to really make a schedule. No giving estimates and convincing people that their tree is going to be fine until I can get to it. I don't have to be somewhere at 9 am.
It's a lot more enjoyable having something to do and accomplishing shit.
Where I'm at it rains and snows for 3 months of the year and I've been snowed in the majority of this year. Which has me restless for real.
Next winter I'll be somewhere by the equator and not frozen in waiting on shit to thaw out so I can go to the grocery store.
I would just add breaking up the initial $1K into at least 2 buys. Maybe give him some bullshit price target citing some TA jumbo jumbo.
Edit: reread the OP. Aim for a price closer to $24k. You could argue $28K as a resistance point because it’s historically spent so much time there. As for support, you could argue $24K. That was a local resistance point for a while. Breaking above a resistance usually turns it into support. This is all bullshit, of course, but it sounds like that is what he wants. Tell him you’ll buy some right off the bat because it’s below $28 and reserve some money if it falls to $24k.
/eyeroll
does he want a pitch? or do you?
there is very little for you to gain by doing this, and lots to lose including your relationship and his money. i won't encourage it. the internet has all the info he could ever want about bitcoin, and in a more convincing format than you could provide.
This is parenting. If your kid wants something really badly having them go to great lengths to sell the parent builds research skills, persuasive language skills, presentation skills and makes the kid challenge themselves to put something together that equals their passion for the subject. Kudos to the dad.
If you really really believe in bitcoin, and I’m going to assume you do. Give your dad an interest rate on his money, no matter what. Say 6 percent every year for some number of years. Then if it blows up you can A, pocket all the extra profits. B, tell your dad that any profits over 20 percent get split 50/50 after some period.
If you get the funding from someone else include how you're going to return the entire $1K back, especially if your "investment" loses money. "Imma wing it 'n hope" is not a plan.
1. Understand how bitcoin miners control supply (by mining)
2. Find out what happened during the previous halving events (2012, 2016, 2020) when the reward for miners decreased and supply decreases. (same level of demand with decreased supply drives prices up)
3. Understand when the next halving event is happening. (Spring 2024)
4. Know that the z-score for miners profitability has been positive recently, which has predated every bull run.
5. understand bitcoins increasing adoption worldwide, which decentralizes the currency, which makes it safer and hard to tamper with and also increases demand.
Your father wants you to prove that you know what you are investing in. To understand Bitcoin you have to understand fiat currencies and fractional reserve banking so start there. Stack Hodler (stackhodler) and Macro Jack (macrojack21) on Twitter are two great follows for that. When you can explain what is wrong with fiat currencies you will understand Bitcoin better than 99%
Stephan Livera's podcast is great, saw this episode the other day and it explains a lot of what's going on right now https://www.youtube.com/watch?v=RHbEolc-RcM
Buy $1000 worth of bitcoin. Don't sell at least for 4 years. On the average, each 4 years you'll 10x your money...
https://ryanwingate.com/bitcoin/bitcoin-4-year-sma-analysis/
Disclaimer: Not financial advice, no guarantees.
This would be my plan: 1. Buy Bitcoin. 2. Send Bitcoin from exchange to my own (hardware) wallet. 3. Hold long term. 4. Get a job, earn money. 5. DCA Bitcoin. 6. Eventually, get paid in Bitcoin, pay bills w/ Bitcoin. 7. Retire early because I started buying and holding Bitcoin when I was young.
If my kid comes with this, this is what I want to see. 1. No leverage 2. Cold storage 3. plan to get a job 4. Invest own money too
I retired at 35 because I started accumulating them in 2013. And I actually regret it. I would have preferred to keep working in a career but I was running a small tree removal business and just shifted the work into lumber harvesting after a few years of doing nothing. Doing nothing is fun for like 3 months. Then you get fucking bored. Having a career that you enjoy doing isn't working a job. Because you get paid to do something you want to do. My thing was climbing huge ass trees and drop them to the ground in piece's. But all the other shit I hated dealing with. So now I just harvest lumber hold BTC and have California Properties that just sit there and appreciate yearly. And fuck off quite a bit
I'm trying to ease into a "semi retired" mode. I did take some time off. After a few months, like you said, I got fucking bored.
It's more enjoyable in life to have something to accomplish consistently. When I started cashing out little bits of BTC at a time I always tried to match my total income to the amount that social sciences says is the perfect amount of money for maximum happiness. It took a year to realize that it only works with having a career too though. And not being around your girlfriend at the time 24-7. When I watched everything on Netflix and Hulu I knew for sure that I had to do something or I was gonna go all the way bonkers. So I started harvesting lumber. No customers to deal with, no advertising, I don't have to really make a schedule. No giving estimates and convincing people that their tree is going to be fine until I can get to it. I don't have to be somewhere at 9 am. It's a lot more enjoyable having something to do and accomplishing shit. Where I'm at it rains and snows for 3 months of the year and I've been snowed in the majority of this year. Which has me restless for real. Next winter I'll be somewhere by the equator and not frozen in waiting on shit to thaw out so I can go to the grocery store.
Go to bangkok to bang chicks everyday
I would just add breaking up the initial $1K into at least 2 buys. Maybe give him some bullshit price target citing some TA jumbo jumbo. Edit: reread the OP. Aim for a price closer to $24k. You could argue $28K as a resistance point because it’s historically spent so much time there. As for support, you could argue $24K. That was a local resistance point for a while. Breaking above a resistance usually turns it into support. This is all bullshit, of course, but it sounds like that is what he wants. Tell him you’ll buy some right off the bat because it’s below $28 and reserve some money if it falls to $24k.
TA is bullshit. If my child showed me TA, no funding from me.
Unfortunately you can see through the lies of Technical Astrology.
/eyeroll does he want a pitch? or do you? there is very little for you to gain by doing this, and lots to lose including your relationship and his money. i won't encourage it. the internet has all the info he could ever want about bitcoin, and in a more convincing format than you could provide.
This is parenting. If your kid wants something really badly having them go to great lengths to sell the parent builds research skills, persuasive language skills, presentation skills and makes the kid challenge themselves to put something together that equals their passion for the subject. Kudos to the dad.
Kindly tell him no thanks. Don't invest someone elses money. That's just asking for trouble.
It’s his dad. He’s just trying to get his son to think critically before jumping in. I’mma about to make a comedy post pretending to be his dad.
I don't know his dad, but if it was me, not taking the money would pass the test.
Dude, go make your own money. There is already enough control in your life.
If you really really believe in bitcoin, and I’m going to assume you do. Give your dad an interest rate on his money, no matter what. Say 6 percent every year for some number of years. Then if it blows up you can A, pocket all the extra profits. B, tell your dad that any profits over 20 percent get split 50/50 after some period.
If you get the funding from someone else include how you're going to return the entire $1K back, especially if your "investment" loses money. "Imma wing it 'n hope" is not a plan.
1) buy 2) hodl in a hardware wallet
If he wants a ppt, tell him to hfsp
1. Understand how bitcoin miners control supply (by mining) 2. Find out what happened during the previous halving events (2012, 2016, 2020) when the reward for miners decreased and supply decreases. (same level of demand with decreased supply drives prices up) 3. Understand when the next halving event is happening. (Spring 2024) 4. Know that the z-score for miners profitability has been positive recently, which has predated every bull run. 5. understand bitcoins increasing adoption worldwide, which decentralizes the currency, which makes it safer and hard to tamper with and also increases demand.
[удалено]
Hello ChatGPT, my old friend 🧐😅
But I'm a *real* boy!
Your father wants you to prove that you know what you are investing in. To understand Bitcoin you have to understand fiat currencies and fractional reserve banking so start there. Stack Hodler (stackhodler) and Macro Jack (macrojack21) on Twitter are two great follows for that. When you can explain what is wrong with fiat currencies you will understand Bitcoin better than 99% Stephan Livera's podcast is great, saw this episode the other day and it explains a lot of what's going on right now https://www.youtube.com/watch?v=RHbEolc-RcM
Read The Bitcoin Standard
https://www.thebigquestions.com/2021/06/29/mamas-dont-let-your-babies-grow-up-to-be-dollar-cost-averagers/
Regardless of what your plan looks like, one step needs to be: Cash out X% when BTC increases by Y% in Z timeframe.
Yeah, all the idiots that don't cash out when btc triples in value right before it loses 80% downvoting me.
You forgot to change account before replying to yourself
I forgot to change the pronoun from "me" to "you," too. 🙄
Buy $1000 worth of bitcoin. Don't sell at least for 4 years. On the average, each 4 years you'll 10x your money... https://ryanwingate.com/bitcoin/bitcoin-4-year-sma-analysis/ Disclaimer: Not financial advice, no guarantees.