Squirt's Necklace confusion

I read in different maxroll and videos online that Squirts necklace, with the boon of the hoarder + Goldwrap means that as long as you are taking gold you will never take damage, so therefore the necklace will give 100% uptime.

However, it occurs to me that you are taking damage nearly all the time, just that defences are so high that it barely has any effect, but you still take damage, so the effect of Squirt’s is likely minimal.

So unless you equip skill with some disappearing act for a short duration, but highly regular number of times (such as Demon Hunter’s Shadow Power), then this effect is most likely negligible.

or have I got that wrong?

I guess in theory if you pick up enough gold with Goldwrap equipped, your damage mitigation goes so high that you effectively would take no damage. However if your health takes even one point of damage, your Squirt stacks will drop off no matter what.

The only 100% certain way to avoid losing the stacks is to use some of the various absorb shield options. When the shield takes the damage instead of your health, the stacks stay up.

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I just checked in game. When your armor damage reduction peaks at around 99,9% you don’t lose any Squirt’s stacks.

… you can also stand in molten explosions without losing the slightest amount of health. Maybe the 99,9 is rounded up to the nearest whole number?

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Not exactly sure about you, but when i’m speedrunning low tier content i have so much damage that i dont take damage, because enemies die off screen when im playing demon hunter, or i permamently freeze them on my necro so its not a problem to keep squirt nearly at 100% uptime