Buy freedom, stack sats, stay humble

I became interested in hard money and self sovereignty in 2013 and have been saving in silver coins since then. In retrospect I should have bought BTC.

I shifted my focus to BTC in 2019 and have made several mistakes, shaking me out two or three times, here is my strategy for buying BTC.

How to buy?
Think of this as a very long term savings account, try for 10% of you net salary split over weekly purchases
Set up an account with an exchange, I use Bitpanda
Create a weekly savings plan, the minimum is £25 per week, I buy 6am each Monday morning
Buy a hard wallet, I use Ledger Nano S
Transfer BTC off exchange into your wallet after each weekly purchase

When to buy?
You only buy during the accumulation phase
Start of the accumulation phase is defined as reversion to the five year moving average, together with a Mayer Multiple < 1
Stop buying as soon as the daily Mayer Multiple > 1
Hold and wait for the next accumulation phase

What not to do?
Put in a lump sum, if you do have savings, chop that up into weekly transactions to cost average
Take out a bank loan
Leave BTC on exchange
Get diverted into centralised crypto tokens, there is only one digital layer one commodity
Buy during cycle mania phases
Sell, ever

Current price 16937
Current EMA 60 22444

Current Mayer Multiple 0.86

Accumulation phase

I bought 20 litecoin in 2013 for about £178

It went to £5500 just before the pandemic. Went to cash out and could not find my password for my wallet.

My best investment ever 30X bagger.

Still cant find my password today.

Lost forever I think.

Still have my recipt paperwork for the purchase though.

I should frame it and stick it on the wall for the grandkids to see eh!

Crypto presents a conundrum for me. I understand that fiat currency is failing as it is not based on the gold standard, and only has value as we decree that it does. It’s the same for crypto. At the end of the day, it’s just 1’s and 0’s on a computer screen. It only has the value we give it and is not backed by anything tangible. As a means for transferring cash, it’s amazing. However as a store of wealth, the volatility in the crypto market means your nest egg could be worth nothing. And governments are itching to regulate it, so will it be “free” forever? Soon BTC transactions and purchases could be blocked or banned as CBDCs take over. I’d say a diverse portfolio is the best bet. Stocks, shares, gold, silver, cash, premium bonds, BTC, property, luxury items…hedge your bets and spread your wealth.

Current price 22680
Current EMA 60 22631

Current Mayer Multiple 1.08

Pause buying

Crypto can be a great way to make money, if you time the markets right. I am under no illusion that this is going to give us freedom in the long term. Anything where every single transaction is recorded, a public record and can be turn off at the flick of a switch; is a totalitarian governments wet dream.

I am currently in a long trade on BTC, all profits will be going into Gold and silver.

The only way I can envisage more can kicking is for the full financialisation of crypto, that would mean completely destroying the current scene, wiping out the shitcoins and setting up a derivatives market for the chosen ones that make the cut which could potentially could add over $100 Trillion. I would not put anything past the criminals trying to keep the current system alive because they are benefitting from it.

I watched Neil Oliver doing a Youtube segment and I thought he completely nailed it, he said whats going on today is an elites version of Supermarket Sweep, the gameshow where contestants have to bag as much goodies off the shelf as they can before the buzzer goes only it's the elites trying to milk as much as they can out of the old system before it goes down. The minute I heard him say this I thought that's exactly what it's like.

I wonder how CBDCs will affect crypto.

MisterNoName wrote:I wonder how CBDCs will affect crypto.

CBDCs terrify me. They are the end of freedom, and the population is sleepwalking into accepting them based on the lies of the political elite.

MisterNoName wrote:I wonder how CBDCs will affect crypto.

The banks don't usually like competition, I imagine the scenario will be engineered so they can be regulated to death. I envisage it being much like the Dot com bust where for every Amazon there are hundreds of Pets.com and most cryptos will be swept away and only a select few will go on to be mainstay. These however will be heavily regulated so as not to threaten the control structures product.
There could also be the temptation to hyper financialize these surviving cryptos as a derivatives market on them could add $100 Trillion to the pot for these criminals to play around with, you would not put it past them.

Current price 26535

Current Mayer Multiple 0.98

Time to start buying again...

Current price 31034

Current Mayer Multiple 1.07

Pause buying for now.

Current price 56746

Current Mayer Multiple 0.97

Time to start buying again...

Current price 62961

Current Mayer Multiple 1.03

Pause buying for now.

Current price 52938

Current Mayer Multiple 0.96

Time to start buying again...

I’ve been buying off and on for a while now, but due to the transfer fees, it’s only worth sending to a hard wallet once you have about £1000 built up.

Current price 64411

Current Mayer Multiple 1.02

Pause buying for now.

Current price 59,855

Current Mayer Multiple 0.93

Time to start buying again...

Am I dumb?

What is Mayer Multiple?

Kiwi13605 wrote:Am I dumb?

What is Mayer Multiple?

Probably not.
Mayer multiple is a formula to analyse the price of Bitcoin in a historical context (thus sayeth Bitbo on Google anyway). Other than that, I haven't the foggiest. It seems to work for m1isanthrope though.

“It is used in order to determine whether Bitcoin is overbought, fairly priced, or undervalued. The Mayer Multiple is calculated by taking the price of Bitcoin and dividing it by the 200 day moving average value.”

There is a huge amount of volatility at the moment and this is likely to persist until the US election has concluded. However it is relatively undervalued, dollar cost average using your excess earnings or chop up a lump sum into daily transactions otherwise you will get thrown off the horse.

Thanks for that @m1santhrope . Very helpful.