Oddbean new post about login | logout I had to sell at the bottom to pay bills 🥺
Gots to live. You’re still EXTREMELY early to BTC. EXTREMELY. So much time to build back. If you’re here, you’ve won. 🏆
I'm doing plenty fine now, but 22 was a rough year. Hardest of my life
Then you need a budget...
I was unemployed at the time and had to pay bills Life happens
Did you not try to get unemployment benefits?
I did, temporarily
You can still start over. Money is a tool. If you need it, you need it. Life is not about tools but about living.
If the bills are not a significant amount of money compared to your savings, instead of selling, go to any exchange and use bitcoin as collateral to borrow a stablecoin. Then use the stablecoin to pay the bills. Next time you earn usd, instead of using it to buy more sats, repay your debt to the exchange. Saves you the necessity of selling at the bottom. Don't do this to borrow amounts that are significant for you. Like don't borrow more than 5% of your liquid savings.
I did this with Celsius We all know how that went
Can you share your worst advice please? Sure 👆👆👆👆👆👆👆👆👆
Well, no risk no champagne. That's why I am saying don't play this game with big money. The risk is really limited. You give the exchange to hold just a little bit more than you immediatelly take back from them, so c'mon. Roughly, you give them to hold btc worth 1200usd, and at once take 1000usd back from them and at once use it to pay the bills which you cannot avoid anyway. So you risk 200usd to avoid selling 1000usd worth of btc at the bottom. If you can't take such risks, I don't know how you go through life and even end up being a bitcoiner.
Let me be more clear. Fuck you. Beat it. Keep your dumb ideas to yourself. Clear? Fucking morons like you built FTX.
Good you mentioned FTX. It actually was a great thing. Absolutelly necessary in the journey of bitcoin. You probably suppose it was something organic that happened naturally. Well, it is not immoral to suppose for oneself. Unwise, but not immoral. FTX punished the ridiculous opportunists and gave an opportunity for normal people, other than wallstreet, to stack at prices below 30k. So I love FTX. Having said that, I don't know much about the exchanges in US nowadays, but just in case, I would rather use any non US exchange, and even not any branch of anything in US. Basically, US is a warzone. Why risk anything inside of it, when the world is wide beyond it.
That’s why I hate real life 😂