After my very early morning delivery for China, I rushed off to blood tests to prep for my treatment tomorrow and then back home for 4 hours more of back to back training sessions. Soon, it will be to go and get the lights that will go into our entry so that the electrician can put them in tomorrow and then back home to have a look at what we can do about the strip lighting upstairs, which looks great from a distance, but highlights how uneven the walls are. I will probably have to skim them fully and sand them back, which means repainting the top coat of paint in those rooms. Doh! It looks like I know what will be happening this weekend.
Since I have been training all day, I haven't really had a look at the markets, other than seeing the massive dip in BTC which drove all the alts down also. I am sure there are a lot of people giving reasons for this, but most likely - it is just a little more manipulation to shake weak hands.
This is how I see it, though I am one of the late breakers and will hodl all the way down if I must. One of the reason for this approach is that I just don't have the time in my life at the moment to keep an eye on everything, so I just let it ride. Another reason is that I am a little trigger shy in some respects, as I know what I bought some of these things for and, it was a lot further up the ladder than it is now.
I sometimes wonder what it would take to live off what I have and would I be able to survive day trading - I don't think so from an emotional perspective - but how much would I need to cover my monthly costs? I would suspect, a fair bit more than I have now, considering that I would have to return something like 4-5K euros in gains each and every month. I am a fair way off being able to do that, unless I am very good at picking winners, which I am not.
In regards to Hive earning, that is a different story, but I wouldn't be able to rely on content earnings pretty much at all, as while they are somewhat reliable now, that can change at any time and I am not entitled to any of it. Curation return is different however, as while not quite entitled, having stake means I the curation return is more stable, even though the price is volatile. In order to cover monthly costs from curation, I think the prices would have to be around a steady 4 to 5 dollars. I think we are a fair way off that price being steady.
It is definitely not impossible however, and a 5 dollar price would put the Hive cap around 2 billion dollars worth, which is actually not that much if you consider how many people are potentially involved at that price. I was trying to give some perspective to a colleague the other day about how small the crypto market currently is, as even with the latest run on bitcoin, the entire crypto holdings are worth 500 billion, which makes it 1/12th the size of the largest managed fund in the world. That is just one fund.
When people talk about how Bitcoin can't possibly go "that high", they really don't seem to have an understanding of the value that is floating around. This also means that when they say "it is too late to get in", they also don't realize how far it could go if there was a run from the investment institutions. 20K bitcoin seems high, but it isn't compared to 40K Bitcoin, which isn't compared to 200K Bitcoin. Remember that if the total market is 500B and it went 10x in total, it would still be a trillion dollars shy of the largest investment fund in the world. That is, the shortfall of a trillion after going 10x, is 2x up from where it is now. Meaning, the difference is 34K dollar bitcoin and a doubling of all the rest too.
Pretty incredible, right?
It really is hard to imagine what all of what this means if it was to get pushed, which I think it is going to be in the coming year or two. This also means that a dip like today can shake a few additional BTC out of the hands of the fearful and into the hands of those who are saying - yeah - 34K, 100K, 1M is in the cards - it is just a matter of time.
"Excuse me - Do you have the time?"
Taraz
[ Gen1: Hive ]
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I don't have the time to game the guessing game. It is lot easier to buy and forget. And, that's what I am doing after the 19K brea. Collecting my portion and locking it away. No more shaking and no more losing :)
I think that is the safest way to go.
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It's still ticking I see. The watch.
Yep. Thanks :)
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Time is very important, but I don't know where my time was spant. 🙃
You should get an app to help you keep track - watch it 6 hours a day and then at least, you will know where 6 hours went ;D
Hope your treatment went well :) (I'm assuming it will have been done by the time you read this)
It went well enough. Getting it is the easy part though :)
It is not easy getting those non-wavy walls, and paint will show where all the flaws are. I don't know much about the BTC price spike, but close to or around the time a lot of pay-pal speculation buying BTC, so that may have caused some of the FOMO and FUD around the price pump.
I am not yet sure what to do about the walls (well they are half roofs as they are the attic walls), but I don't want panelling on them. Will have to find a solution.
With BTC, I hear about the PaypPal and Square conenctions etc, but I think that there is more to the pump than that, and less :) I think we are just gearing up and these kinds of dips are part of the ladder.
You raised an interesting question in your message. Exactly what income should I have in order to be able to free myself from the need to go to work?
Such a simple question, and I can't find the answer to it in any way :)
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I am guessing the answer is different for each of us depending on circumstances, but it is worth working it out and creating a plan toword it. There is a big difference in working and needing to work.
It really seems like a big place when I'm wandering around the 'cryptosphere' but it isn't. It's pretty teeny compared to the fiat world.
It's hard for me to envision 100k for a BTC, but in reality, it breaks down real well that can be readily traded. Can you imagine a $1 Satoshi? That makes a BTC worth a really big number. 100 million. That would ring the market cap bell, I'm thinking. A one cent satoshi makes BTC one million and I CAN imagine that.
Unfortunately, I don't wear a watch and am perilously near 70 years old. I probably don't have the time.
People should remember that once upon a time, we would flip around gold and silver coins to each other when shopping. There isn't that much gold in the world either. I am guessing it doesn't happen often now.
Will women start expecting a Bitcoin engagement ring?
"Wow, it is gorgeous. He must be really well off, that is a half Bitcoin ring!"
"Poor Mary. Her fiancé proposed with a 100K HIVE ring. The nerve of some men!"
:D
I think the time to 100M might have to wait, but the 1M?
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Like I said, it's pretty easy to imagine an $0.01 sat.
At $1 per sat BTC would feel like a battleship in a small harbor. Not going anyplace. Doesn't have to, it'd trade mostly in pieces. Unless Elon took a serious interest...
Most definitely a case of "There is a hole in my bucket...", greed sentiment digs in, big players waiting in the wings to cash in. Not this first time, most definitely not the last.
No I don't have the time to sit and watch, when things do move, our side of the world is so slow.... most miss the boat in anyways if or when they have a good internet connection.
Enjoy the painting not, keep up the training sessions!
Those who normally take the most advantage have deep pockets, no holes.
I think that someone who might have come in late to the run without crypto experience, might have got scared and dumped, to have their losses scooped up by those with experience.
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This smacks of greed with big investors rocking the boat, taking profits, waiting for trade to dip then buying back in again. No this was a plummet in a 24 hour cycle now slowly moving up again.
So much engineering involved and the weaker hands will loosen under pressure.
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Sad but true, people not familiar with previous years normally do break under sudden movement in trade like this. Have a wonderful weekend with 'small feet'.
Have a good weekend yourself. It is a long weekend right?
I decided long ago I would not consider the time when dealing with crypto. To me, this is not only about profits but also about entering this new industry in all its senses. Investing is only one of the reasons and I firmly believe prices will grow much much higher in the long run, but I value all the learning I am getting and the experience which comes with it as it is the foundation for the new coming era.
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I was talking with a colleague and asked if since he started buying crypto six months ago, had his outlook changed. He was already investing, but he has become far more aware and conscious of the economy of money and currency and has started to understand how little control people have over "their" wealth.
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Yes, that is one of the greatest consequences. Once you enter this world you pay much more attention to monetary policies and macroeconomy and governance concepts you never paid too much attention to.
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Most people in the world complain about money - most are also not interested in learning about it, just having it.
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Time to get a watch.
I am worried a watch will make my wrists look fat.
You don't need a watch for that, my friend.
I'm just big-boned.
Milk drinker.
Hey! What did you call me!
Nothing you big-bone head!