Income exposed and disposed

in #thoughts6 years ago

At some point, The crypto market is going to increase rapidly and a lot of people are going to be caught out in many ways. There are going to be the ones that never believed of course, those who sold and are waiting for a buy and also, the ones who held. I am in that last group - the holders, but eventually, I will have to take something from it, somehow. I say somehow because I don't really ever want to have to go from crypto to fiat but, I still have debts to pay. Perhaps I will just sell everything and take off into the sunset.

What would you do if your current crypto holdings skyrocketed? Would you have enough to retire on, live debt-free, do what you please? Now, I have no idea but lets assume for a bit of fun that everything ran in a straight line and Bitcoin did actually hit 1 million dollars so McAfee didn't have to munch on his own manhood - What do you think Steem would be at in that line?

Bitcoin is at 4000ish now meaning it would have to go up 250x from here. Steem is at 30 cents now so that would put Steem at 75 dollars. Silly to think isn't it, but who cares about reality, this is crypto. So, can you retire? If you have 1000 SP it would be the equivalent of 75,000 dollars in value and then 10,000 SP would be 750,000 worth - Would you sell?

It is an interesting question to consider because while that 1000 SP would get 75,000 straight up, it would also be worth about 50 dollars in voting a day which would be, 18000+ dollars in voting value a year or about 25% on the value per annum. Would you sell or hope that it would go up or remain constant?

As said, I held when prices were up and while a terrible financial decision for fiat, I have been able to collect more Steem. However, if I had sold at the top and then bought back at the bottom, I would have about 500,000 Steem instead.

Of course though, there are plenty of people who sold at the top yet, they never saw the need to buy in or more likely, they weren't able or in the position to actually hold any of the fiat they old into to buy back in with. This means that while they might have covered their bills at the time (which is great), they might not be able to cover the next round as they might have very little foundation. People may laugh at crypto holders like myself but, I still believe I have a chance to significantly change my life with what I hold.

It is all part of the game of economic life though and most people play poorly. I definitely have and often still do. We have essentially been told to use our disposable income (and then some) on consumables that have no value instead of assets that have the chance to appreciate. Then we wonder why we struggle financially in life. Well, we disposed of our ability to use that income for something valuable.

Yes, it is great that people spend their hard earned money on enjoying life and being entertained but, life is generally a lot longer than the memory of that entertainment is worth and, a life of struggle is not much fun at all, I know. Perhaps in that scenario of 75 dollar Steem I would sell a bit but, would I sell all? I don't believe so. For me, the prospect of being able to have the power over my own earning potential directly is highly valuable and that's what Steem provides access to, ownership of potential. The Steem market cap from this point would have to be around 22 billion dollars to have 75 dollar Steem. Does that seem far fetched?

What is interesting about Steem is that while many people see it like a business, it is actually a collection of many, many businesses and while none of them might be billion dollar companies themselves, there might be hundreds of companies turning over in the many millions and, with the way Steem works with Steem power and Resource Credits, that locked up Steem could make Steem very scarce on markets. Do I sell forever or do I have an Annual Recurring Revenue (ARR) of 25%? It makes it interesting doesn't it?

Recurring revenue or sell? Take the risk? If it isn't enough to significantly change life or give access to valuable opportunity, why bother selling? Of course, as I have said before, I could have paid off my mortgage in December 2017 instead, I struggle to pay the groceries now. Hindsight though is not a good indicator of what would have happened under different choices.

Games of life and possibilities through the decisions we make. It makes life interested doesn't it? It means that there is a massive range of experience among us and while there is a great deal of suffering, there can also be a lot of joy and happiness. What I am looking forward to when the crypto markets eventually break the banks and flood the markets are the stories of all the people who worked their ass off from poor positions all around the world, took risks, bought a little and held until eventually, their lives changed for the better.

There are going to be many such stories and there are going to be some unlikely crypto holders out there who have squirreled away a few diversified coins and perhaps, will use their earnings to make the world a little brighter in their local community. Or, it won't happen at all and there will be a few people around the world saying, I tried, it didn't work.

My wife doesn't really get why I do what I do, she is more worried about paying the immediate bills we have which is a good position to take as it needs to be done. However, is that all there is to this life, struggle to pay the bills and then die? It seems that there are more people living a life of constant economic pressure than enjoying their earnings so, how does that cycle end?

If we are waiting for someone to end it for us, it isn't going to happen, the only way is to work into a position of living that there is a little disposable income and, take ownership of some part of our world, instead of consuming something that evaporates while passing ownership to a small minority. The distribution needs to shift but, there has to be buy-in to make it happen. A consumable life lived is demanding to continually be fed and ensures that those that create, always have demand and what is demanded might be nothing of value at all.

What you buy with your disposable income will shape your opportunities for the rest of your life. Do you know where it goes and is that where it grows larger or flows away?

Just some thoughts for myself to think on a little before bed.

Taraz
[ a Steem original ]

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It is a good position to be in if you have to make those decisions. I have always looked at Bitcoin as the one that will be top dog and all the others actually have more profit potential. For Bitcoin to grow by 250 x the other coins will or should grow a lot more in theory. Who knows and we must just be patient. I think the laddering in and out is the smart way to go and Steem actually forces you to do that with a power down over 13 weeks. I personally don't think I could just power everything out no matter what the prices are as this place has become part of me today.

I personally don't think I could just power everything out no matter what the prices are as this place has become part of me today.

Steem is very sticky when it comes to interaction for those who spend enough time here and still have some fun.

"However, is that all there is to this life, struggle to pay the bills and then die...how does that cycle end?"

This question is the ultimate question of life. The accepting and rejecting, hankering and lamenting, for money, happiness, possessions, are the secondary sideline activities to keep alive. Unfortunately we make them the primary focus, and forget the real goal. By asking these questions you show that you have realized something about life, that there must be something higher than just eating, sleeping, mating and defending, which are the animal propensities.

We already have the answers within, as well as all the happiness, wealth and power we can imagine. It is all already within us. It's only due to lack of education in a western capitalist world engineered by leaders with ulterior motives that we are still forgetful of the focus on consciousness and are bewildered by materialism. They don't want us to awaken and remember our true natures, but want us enslaved to the consumer wheel.
Still some of us break out of the matrix, the illusion, the bad programming, either driven by a desire to know more, or to escape the misery of material life. Those that question as you have are able to be led by their inner knowing to some answers and insights, or are led to those who can answer the ultimate questions and show you how to tap in to your inner abundance.
When we realize that we have it all already, then we no longer hanker. We have all the happiness we want, we simply have to shift our perspective or our perception of reality.
There you have it. Well done.

They don't want us to awaken and remember our true natures, but want us enslaved to the consumer wheel.

It is a cycle that has no end until ownership is held by many instead of many's debt held by a few.

I am not the kind of person that can live out in the woods unfortunately so the finding of balance is necessary. I am hoping that in time, the return of value to many hands through blockchains will balance the drive of consumerism as it can slowly return a 1:1 ratio of trade.

As a consultant I have to say this "You should probably diversify"...

I know I know crypto for life and to the moon and stuff...but at the end, it is all about reducing risks.

Most likely, I would have enough to take some chips from the table to

  • buy some apartments to rent out
  • stocks for safe dividends
  • cash as reserve
  • other assets
  • and still be 50% in crypto.

Steemit however is different, I might partially sell some from posts, but would always reinvest most of it!

We'll see, first we have to wait for the day to come and stay safe and healthy :)

This would also be the option to start a business as retiring is way too boring for me.

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Yes, diversification is important... you mean across alt accounts right? :D

I would love to be able to diversify more but my real life financial situation sucks at the moment but slowly, slowly.. I am getting there slowly.

This would also be the option to start a business as retiring is way too boring for me.

Retiring is for pussies.

Yes haha just alts and btc risk management nothing else ;)

Sincerely hope your situation will turn around and not just slowly my friend! Wish you the best!

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I would definitely invest in some real estate, a laundromat, and possibly a franchise.

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We have touched the same topic at the same time man! That's telepathy at least :-)
https://steemit.com/bitcoin/@toofasteddie/steemimagine-pdoryyv3mu

My wife is exactly the same in not quite getting why I do what I do here.

However, is that all there is to this life...

And I think exactly the same as that!

I bet she wastes quite a bit of time on Facebook like most people.

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Unfortunately yes, trapped in various groups!

Terrible. At least on Steem, she'd gain at least something. I haven't even told my wife I'm here rather than on Facebook because I want to accumulate in peace. This is a long game for me.

It's a long game for me too. She did start an account and wrote some good stuff but I don't think her heart was in it. The whole difference between blogging and social media style posting I suppose. Also the parenting but due take up a bit of time, lol!!

It's perfectly fine to interact social media style here, IMO. The rewards would be smaller, though.

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Yeah, that's true. It's the group's she is in though that tie her, at least for the moment on Facebook. She does a lot of natural birthing stuff and the nearest to that you would see on here is the natural birthing of some new shitcoin or other :0D

Hah!
$rewarding 25% 15 min

It is an interesting question to consider because while that 1000 SP would get 75,000 straight up, it would also be worth about 50 dollars in voting a day which would be, 18000+ dollars in voting value a year or about 25% on the value per annum. Would you sell or hope that it would go up or remain constant?

That would depend very much on whether there were businesses generating that much value per year on Steem. If you can get 25% merely by self-voting, then a high value like that will not be sustainable. Then my guide as to how much I'd sell would be technical analysis. That the inflation rate is that high leads me to believe that we're still very much in an accumulation stage. Any spikes in price will be wiped out by people cashing out at the top. I think the goal should be to sell only in about 6-12 years from now.

At $75, I'd be looking at six figures in euros. If I had had several millions worth of crypto in January 2018, I'd probably had sold a very large share of it. I don't need to be a decamillionaire. I'd be content to live debt free and comfortably on passive income. In Finland, you need at least a million worth of capital to accomplish that if you require a middle class standard of living.

As said, I held when prices were up and while a terrible financial decision for fiat, I have been able to collect more Steem. However, if I had sold at the top and then bought back at the bottom, I would have about 500,000 Steem instead.

If you could forecast tops and bottoms with any reliability, you wouldn't need a job let alone two.

Of course though, there are plenty of people who sold at the top yet, they never saw the need to buy in or more likely, they weren't able or in the position to actually hold any of the fiat they old into to buy back in with. This means that while they might have covered their bills at the time (which is great), they might not be able to cover the next round as they might have very little foundation. People may laugh at crypto holders like myself but, I still believe I have a chance to significantly change my life with what I hold.

I just talked to a 2016'er who had sold at the top. He may have made some tends of thousands worth of STEEM. This guy was also buying back but his stake is really pitiful at this stage. I don't think STEEM has much lower to go, which leads me to suspect that this guys fiat is gone.

My wife doesn't really get why I do what I do, she is more worried about paying the immediate bills we have which is a good position to take as it needs to be done. However, is that all there is to this life, struggle to pay the bills and then die? It seems that there are more people living a life of constant economic pressure than enjoying their earnings so, how does that cycle end?

Is she opposed to you not taking anything off the table or actually investing anything?

I have no idea what I would do. Everything has changed since I started on steem. How high it goes will depend on whether I sell and how much. I was buying at $7 and all the way down this bear market. So I cannot say but I sure would like to do some traveling and make sure that my family has a security net better then they do now.

Making a $50 dollar a day vote is tempting.

I got into Steem for the long haul. That is still my position.

Me...??? I'm hodling, earning more, buying or re-cycling :~)

I'm 'old' now, and have lost out on a lot of past investment mistakes, along with financial downturns; my options (imo) may be few these many years later; cryptocurrency can be just the ticket to re-coop what was 'lost' in the past by 'staying in the game'...

I'm 'IN'

I like entertainment but making it more than consuming it XD

I'd love to be able to ditch the mortgage. That's the biggest killer. Even the word is killer XD It's just my partner that needs to retire though so he can do my current job coz he's better at it. I'll keep thinging because I will thingi no matter what (and have done for years) XD

Your wife not understanding is...understandable (pffft) my partner doesn't really get it either and he's better at this kind of thing than me (he plays with other stocks but in fairness he doesn't trade any kind of currencies crypto or fiat). Think our most amusing conversation was him saying a lot of the cryptos sound just like ponzi schemes and in his research pretty much everything is a ponzi scheme (because people who don't like it or got burnt or whatever say it is) and I was like "oh like fiat then?" No answer XD

I'm a hodler myself. If everything was to go the way we want o definitely wouldn't be able to retire from Steem. I have some other coins that I could definitely be able to live comfortable. I think I would hodl the steem I have because by then the platform will be a lot more profitable.

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