Happy Children’s Day, dear readers! As we grow older, we have celebrated countless festivals and gatherings. But in the end, we realize that the happiest festival is the one when we were carefree children. Thousands of years ago, Laozi asked, “Can one become like a baby?”
Unconsciously, we have moved from one Children’s Day to another. The “Ten-Year Covenant” real trading public witnessing plan [link], which was launched on Children’s Day in 2023, has also reached its first year’s conclusion.
BTC continued to fall above 67k overnight. Despite this, May still ended with gains: opening at 60.8k, reaching a high of 72k, a low of 56.5k, and closing at 67.2k. According to the plan, we should not add to the position during a month with gains. However, in order to mark the end of the year with a comma, we made an exception and added to the position.
Here are all 24 real trading records from the past year:
Portfolio A:
Portfolio B:
Post-investment:
Over the past year, we have accumulated over 8 million satoshis, with an average holding cost of 41k and a return rate of 64%. The high return rate has brought an obvious drawback, which is that the actual accumulation of BTC is far less than the estimated value in the initial plan.
According to the original plan, we should withdraw from the platform to the on-chain address 1PXD6FjKCJyyFAvNzWW6sS3VQa9sWLKytu (this address has been publicly disclosed in the first article of the plan) after accumulating for one year. There are two advantages to this: first, independent private key storage, not afraid of platform bankruptcy; second, public witnessing.
As you can see, because the platform charges a withdrawal fee of 0.00015 BTC (about $10!), in order to ensure that the amount received is exactly 0.08036796 BTC, the withdrawal amount needs to include the fee, which is 0.08051796 BTC. Of course, this means that we need to incur some additional costs, buying more BTC to pay for this withdrawal fee.
Once BTC is withdrawn to the blockchain, it becomes transparent to everyone. Everyone can view and supervise it. Anyone can use a BTC block explorer, such as mempool.space, paste the chain address above, and view the current balance of that address, as well as the complete history of incoming and outgoing transactions! Just like the screenshot below:
Jiaolian wrote a short article “How to Store Bitcoin with Private Keys” on October 20, 2020. However, it didn’t elaborate on how often it is appropriate to withdraw coins.
First of all, it is not suitable to withdraw coins every time you buy, unless you buy a significant amount each time, such as over 1 BTC. Otherwise, frequent withdrawals have at least two disadvantages: first, you have to pay withdrawal fees many times, which is not cost-effective (of course, platforms use this trick to occupy your BTC for as long as possible); second, each withdrawal will generate a new “coin” UTXO on the blockchain, and having too many of them will result in fragmentation, which means paying more on-chain fees when spending them.
Therefore, the Ten-Year Covenant stipulates withdrawing coins once a year. Of course, if there is any security alert during the process, we need to be flexible and withdraw as soon as possible to avoid risks.
Ten years seems long, but it’s actually not. Time flies, and a year passes quickly. One-tenth of the time has already passed forever. 10, 9, 8, 7, 6, 5, 4, 3, 2, 1, ten tenths, time flies like an arrow, and we have reached the end.
If heaven has feelings, so does time. The path of the world is full of vicissitudes!
(WeChat Official Account: Liu Jiaolian; Knowledge Planet: Reply “Planet”)
(Disclaimer: The content of this article does not constitute any investment advice. Cryptocurrencies are highly risky, and there is a risk of going to zero at any time. Please participate with caution and take responsibility for yourself.)
Tags:
2023 Market Trend
Liu Jiaolian
Investment Insights
Bitcoin
Essays
Source link:
https://mp.weixin.qq.com/s/jPM6Miwwjyhuug-dzm3MZA
Note: The opinions expressed in all Bitpush articles represent the views of the authors and do not constitute investment advice.
Original article link: https://www.bitpush.news/articles/6834368
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