I'm going to play with it a little. During the downturn after I've leveraged out. Instead of spending my stack or just waiting, I'd like to put it into other appreciating assets, like land and realestate. I'm a contractor so I know that I can take my capital buy houses and flip them. I could flip two or three small homes during the down turn. Take those profits and re allocate to btc at the low.
Word. This is just a new strategy I'm thinking about. How to capitalize the most on your oppertunity cost.
This guy gets it!
My whole strategy has changed. I'm still a maxi but now I also want to maximize my profits.
How and where to invest my time other than in bitcoin, 🤔
I want to know if in a downturn as retail bitcoin price falls has it ever fallen below the world average cost of production. Because if it hasn't then we can assume that it won't ever. That gives me a better idea of how to leverage in and out and make the most for my value in the downturn.
Yeah no I am not suggesting the shitcoin casino. You'll get wreaked because it's always a race to see who gets out first.
Basically I'm a contractor and if bitcoin is not performing how I want I can invest in flipping houses or maybe buying and selling land.
But will that land appreciate faster than bitcoin? Somtimes it does. Sometimes it doesn't.
The idea is you find the best preforming asset ( that you understand) and dump your money into it.
But when bitcoin is at 150 -200k it will likely have a down turn l, because the cost of production will be like 44k who in their right mind is buying bitcoin off the retail market when it's 5x the cost of production?
In my opinion people shouldn't be so attached to their capital that they are unwilling to put it in an appreciating asset class that isn't bitcoin.
I mean the hash rate is correlated to the world average cost of production. So I would say yes you can. Basically hash rate is how many people are on the network mining for btc as hash rate increases cost of production goes up.
Okay perfect example. Bitcoin goes to 250k we all know it's going to have a blow off top and start to regulate back towards the cost of production, which is directly correlated to the hash price, when retail bitcoin is the same or close to the cost of production you buy buy buy. As it goes up 3x 4x or 5x the cost of production you leverage out of the position so you can capitalize on that 4x 5x increase if you just hold btc all the way through you lose out on the oppertunity cost of 5x
I just feel that the idea of "never selling" is mis understood. You should never sell the best appreciating asset in your portfolio. 8 out of 10 times Bitcoin is the fastest appreciating asset. But what about the other 2 times? If you don't already have massive cash flow, if you don't have a business built, are you telling me your going to hold onto that loss for 18 months before it starts to appreciate again? Well your only going to get roughly 25% a year. Which is great if you got boatloads. But most of us don't have that. So be smart and put your value in the fastest horse always. And bitcoin will have down turns where it's not the fastest horse.
Capital is meant to be used for more capital. It can't do that in a down turn. I personally like the idea of 5x my capital in 4 years vs 2x my capital in the same time frame..
No you put your "stash" into an asset that cash flows. Bitcoin doesn't always go up. I mean yeah it's going up forever Laura, but realistically there are 18month 24 month down turns where your value could be better held or grown elsewhere. Don't use custodians.
Can anyone show me proof that Bitcoin has fallen below the world average cost of production?
Un popular opinion-
You should make your money work harder than you do. You can't do that if you only ever Hodl....
When concentrating on the elections this year I personally think "vote for better money" holds more weight.
Money is the one thing we all have a common issue with. Alot of people do not know how it is really affecting them. They may realize they need better money without being able to pinpoint exactly what that money is they won't go anywhere. Just keep running faster and faster to stay in one place.
The reason I ask is this, no one ever has all the nessesary skills required to build massive wealth and happiness or contentment. Everyday the system fights us. Steals from us and degrades our self worth.
If we as a network come together to build we can 5x 10x our production output and actually make strides instead of steps. For example
Your situation, you want to create videos teaching people how to do quality woodworking. In order to getbl the best return from your investment (your videos) you'll want to create high quality content that captures people's attention.
Maybe you don't quite have the skills to edit and film all your stuff, but yiu are the guy with the technical woodworking skills, if you aren't shy on camera and can explain why your doing things, why not hire someone to help you edit your videos and give you the best quality videos possible?
My idea is that we build a circular network where everyone adds value through their individual trades and knowledge. We help each other get where we want to go.
Goodmorning Brothers and sisters
I've got a question for you...
What steps are you taking to complete your goals?
Are there things that are holding you back, ideas thoughts or reservations about the project?
Have you identified the problem areas, and the things that need to be addressed?
I had an awesome experience in Milwaukee this last week. I made several new friends, no I made several new family members. We all got together to attend Scotts Build-a-mine bootcamp so we could learn how to effectively and efficiently mine as much BTC as possible.
This was a great experience, on the last day of the bootcamp Scott gave me an oppertunity to present to the class. I helped everyone lock down their S.M.A.R.T. goals so the students could have a better idea of how to tackle their individual goals and achieve them in the timeframe.
Grateful for this experience. Grateful to my friends for showing me that Bitcoiners do exist in the real world and we have a lot more in common than not. We all come from different places, lives and scenarios, but we came together for this event. I'm not sure about the rest of them but it has changed my life.
I'm ready to see where things go from here.
#Build-a-mine #scottscryptomining #bitcoin #miningindustry #fuckfiat
Last day of Bootcamp, part of me is sad to leave... I've met a bunch of amazing people for serveral walks of life, all different age groups and personality types.
Life is about to get crazy, you can't put it back in the box. I am excited and anxious to see what happens next.
My wife is pregnant with our first, I got the fever bad!