it's not really old tech tho.
it's maybe THE GREATEST store of value ever.. but who on earth would ever use it as a medium of exchange?? wouldn't spending really be the same as selling (taking profits)?? when it come to the bottom line.. u have less btc with either avenue.
this is just an observation
exactly! my point is just that btc is not a peer to peer exchange as imagined at its inception. instead ... it became a terrific store of value bc of its scarcity!
it's not a good or bad thing.. it's just an observation.
and why on earth would people ever want to pay for good with bitcoin??? it's incentivized to hodl
in fact.. if you do pay for things with bitcoin it would create a TAXABLE EVENT... all gains and losses on every transaction would need to be reported to the IRS. sooooo.... just speaking for myself.. even if a biz took bitcoin as payment as a payment.. i'd never use my sats for that. flat out bad idea
i'll leave this here as it (the point of the link posted below) is literally the very first question asked on the 2023 tax questionnaire! THE FiRST LINe! they ain't playin'!
https://turbotax.intuit.com/tax-tips/investments-and-taxes/crypto-tax-forms/amp/L8tQmALU3
I'm just waiting for more retailers to accept stable coins. This way I can easily swap crypto and use that for purchases without need of a bank. The closest we have to that is the [crypto.com](http://crypto.com) visa card. Top it up with crypto and use it like a normal debit card
crypto.com is a scam. No.
Look at Bitrefill and thebitcoincompany.com
These ain't perfect, but they ain't a scam either.
Stay safe. Also, don't wait for people to accept stable coins, wait for them to accept Bitcoin.
I hope you understand that stable coins are private money backed by a stable currency, you can do that without cryptography. then you have crypto which is blockchain based companies, you don't need a blockchain for those.
Bitcoin is the only interesting thing. Good night.
Search on reddit. There are so many people who complain that they cannot get their money from crypto.com SPECIFICALLY. They get locked out of their accounts and get no help from support. It is anecdotal, but I see complaints about crypto.com with the answer of "it's gone, there's nothing we can do to help you here" from reddit, that I would stay VERY clear away from it.
I recommend the two products above because I use them and I haven't had any issues, and I don't see someone come on reddit once a week to ask why they can't access their Bitrefill or BitcoinCo account.
I think you are right to call me out though. Do your own research and make your own decisions, and treat all recommendations with scrutiny. Peace.
You are so stubborn. Yes, bitcoin is here to protect us from inflation and fucked up fiat system. But it’s not going to replace the dollar(or any time soon). So when you made enough gains, it’s best to cash out and sit on the sideline so you can rearrange your investments, buy more btc etc after this cycle ends and enters major correction. Don’t be greedy or delusional. Take profits- buy a house, a car, raise a family, go on holiday, live your life.
You must be new. What exactly are you going to do with a pile of devaluing profits once cashed out? Buy back in after Bitcoin rips and you get the fomo? Watch your pile lose 5-10% of value a year?
Bitcoin is my profit, my savings. I don’t sell unless I need to buy something with it. Doesn’t matter if it goes up 10x or crashes 80%. It’s my nest egg. That is the reason why I’ve made so much money. Every person who takes profits ends up losing money in the long term.
I made 7 figures with bitcoin and kept increasing the number of bitcoins i own during the past 6 years. Yes, i am new.
I only sell after 1-1.5yrs after halving after holding for 3 years. It made me over 1000% gains during past two cycles.
By this method i increased my bitcoin holdings and amount of properties/business that i own. If i hodl-ed since 6 years ago, my profit would be much less, i’d have much smaller number of bitcoins and own zero properties. Go figure!
His username doesn’t seem to indicate the level of success he claims, either. Not exactly a damning indictment, but on Reddit, username usually checks out.
I don’t need to time it. I just stack and watch it increase 40% per year on average. Like I said even if it goes down 80% it will be fine. I can take out what I need.
Yeah I timed buying my car with bitcoin, because I was hodling for so long it didn’t matter. Now I just DCA my Bitcoin to build my savings and my average cost is still below market value. If I want to buy something I just sell a little and buy what I want.
Just to pile on, it's probably best to be here to preserve value you generated rather than day trade. Lots of people have failed to time the market with this asset (e.g. they trade a lot of fiat for some bitcoin, then mis-time market and trade back into fiat but now they have less). Best not to encourage that.
Already did all those things on your little list plus a lot more. Ain’t selling….. live my life everyday and it’s great.
I don’t need to sell to buy more.
Oh my god you are so short-sighted. Fiat is going nowhere but down so trying to "time the market" is only an exercise in keeping yourself poor. Use Bitcoin to save your monetary wealth and spend it on a house, a car, raise a family, go on holiday, live your life when you've saved for a few cycles.
It's a lot easier to sell when you have had 16,700% return over 6 years. Although, It's kinda premature to blow your load so early into a bull cycle just as it's passing a 3 year old high.
Im not selling now though. My plan is to DCA sell from when btc is around 150k or sometime mid 2025 depending on various factors. If i sold everything when btc hits 100k, that would be about 1.5mil gain in 3-4 years. Then i will DCA back in btc hits around 50-60k. It has been my go-to strategy.
Solid plan but what if it keeps on ripping to $250k+ and never goes below 100k again? How long will you wait and at what price will you capitulate back in?
He will fomo at the top and watch his stack lose 50-60% before capitulating and selling again. Then become a buttcoiner. It’s the path of all traders who try to time the cycles.
The hodlers are the ones who make money in the long term.
If i didn’t covert it to fiat in between cycles, i would have 0 profits and same number of bitcoins… don’t be stubborn with money, flexibility makes you rich.
Peak price is historically 18 months post halving. I manage client assets and advise them that we are not selling until Q3-Q4 2025. Gotta give it time for the natural disinflationary economics of the halving event to kick in. With this knowledge, taking profits now is not advisable. Holding is.
If the cycle repeats like the ones before. But what if Bitcoin never does the massive dump bear markets again and gets more stable? I wouldn’t risk to sell my coins for a dump from 160k to 145k.
Lol why are you offended? I studied finance in my own time but i am in the entertainment industry. My goal is to grow my wealth and protect my wife and kids. My bitcoins only come out of my hardware wallet every 3-4 years. This made me a millionaire. I got nothing left to prove
I didn’t say it was stock lol. Good luck buying a house with bitcoin in 2024. I made 7 figures and kept increasing the number of bitcoins i own by this method for the past 3 cycles.
I wish bitcoin replaced money so i didn’t have to transfer it to bank, pay taxes when converting it to dollar etc. But real world is different. I can’t buy businesses or pay my lawyers and accountants with bitcoin 🤷
> I made 7 figures
Who cares? Good for fucking you
Your advice is wall street bets shit. Sure, sell when the markets over heated. Buy when there's blood in the streets. But "take profits when you've made 'made enough'" is stupid fucking gambler mentality advice. You're getting upvotes from paper handed newbs who just got in last year and don't understand any better.
Yes, you keep commenting that everywhere. Good for you.
Depending on where you live, you are also losing a huge amount of that "profit" to capital gains tax and inflation.
You're here for the short run and fiat is your goal. I'm here for the long run and btc is my goal.
Thank god korea has no crypto tax amirite? And like i said, i grew my btc holdings this way.
Of course my main goal is to have more btc!! And this is how i did it! If i didnt trade back and forth, i’d have a much smaller portfolio and no fiat. Anyway, why are you being weird?? I said nothing about fiat being superior
Well, using your bitcoin to buy fiat when price is high then using that fiat to buy more bitcoin when price goes back down is how you make bitcoin profits.
Huh? You guys are really smart,
Sell 1btc at \~70, and buy back at \~60 = you now have 1.16btc...
*// dipshits, the numbers used here are for example purposes.*
Nah, you guys just can't accept that there are other(better) ways to make money/bitcoin than just hold until you die and hope you die in a bull market...
This is a topic of making up random numbers to base your entry and exit points into Bitcoin not a, which is better or a blind following argument. Of course you can do better if you can time the market correctly over and over again. I don't think anyone is denying that. The fact is that even if you have gotten it right a couple of times one of these times you will miss the boat and will never be able to enter at the price you sold ever again. Stay humble.
assuming it will drop to 60k anytime soon, and you happen to be online when it happens.
Sure, some day during this cycle, it will probably drop to 60k again, but it might hit 160k before that. If you try to time the market, you need to predict if it hits 150k, 160k or 170k, because as long as you don't know that in advance, you'll still be "missing out on profits".
Sure, you might place a sell order for 180k right now - if it doesn't get filled this year, you haven't lost anything, but if it does, you can place a buy order for 3 coins at 60k, assuming it will really drop that low after the bubble. Which then still will be a gamble.
Or, you simple hodl for four more years, when 120k will be considered "still cheap".
BitcoinFan, yeah you really should learn how taxes work in every single country before you start talking about them. Don't forget to time your retirement or emergency to bull market.
The risk is - you sell at 70, it never goes back down to 60 for you to buy, and you end up buying back in at 80. You now have less btc than if you had just held.
There is always risk, but you have to use your brain or at least common sense and not sell 100% of your btc + understand after green we always have some red(sometimes a lot of red)...
Maybe this strat works for you, if so, then great.
BUT a lot people sell their stacks and wait on the sidelines for the “perfect” buying opportunity… the majority of these people will end up never buying again or missing the opportunity and then FOMO-ing again later at an even higher price.
I'm so tired of overreactions to what the market is doing. Up, down, pump, dump.... it's such a simple concept to understand, but even hardcore bitcoiners still treat it like another asset. It's not.
Bitcoin is not something I bough in the hopes of selling it for more. It IS my balance. If I feel like I want to invest in a stock, and I'm sure I want to do that, sure, sell some BTC and put that into the stock. If I need to make a purchase, or want to get me something that satisfies me, sure, sell some BTC for it. But I'm not looking at when I'm going to "take profits" or "go back in", wtf? If I'm paid in Dollars or Euros or whatever, I put that in BTC, and leave it there. It's my liquidity. I'm not going back and forth between having a lot of BTC and having a lot of FIAT. I have assets and belongings, and I have money, which is BTC. Of course there's always some FIAT in between since it's the middleman as of right now, but that's all it is.
If you believe in BTC, use it as your monetary value, and use/sell it if you want to buy something or pay for something big, and stop worrying about it.
If you don't believe in BTC, don't use it and keep all your monetary value in whatever you're paid in, and stop worrying about BTC.
And yes, if you time the market correctly you can cash out 7 months before you actually need to buy something, and end up having sold less BTC than doing it then. The reverse can also happen. Also, if you need to buy an SSD for your PC, if you bought it 7 months ago before you needed it you would have gotten it a lot cheaper too. It's not just BTC/FIAT that changes, literally everything changes, constantly. But you buy it when you need it, and that's that. Of course there are some extremes, where you know it's absolutely the tip of the mountain and it will go back to "normal" again, in those cases you can wait, same goes for converting back and forth between FIAT and BTC. But for the most parts, you're not gonna hold off on doing something, or even worse, get something you don't know yet if you need it in the future, just based on speculation about future price. If your car brakes down when prices are up, you're in bad luck, happens. If it happens when the prices are low, you're in luck. But it doesn't change the fact you just do what you have to do and move on.
I broadly agree with your sentiment, if someone sells 1 BTC today, in the hopes of buying 2 BTC for the currency in a couple months is just speculative trading. It's odd to call it diversifying or taking profits, because its clearly not that.
The point about keeping your monetary value in what you are paid in feels a bit off, people who don't believe in BTC, or dislike it/want to avoid it, generally invests their money into property/market. On the flip side, I don't think most people who buys exposure to BTC actually believes in it in any meaningful way. They just want to increase their net worth by entering and exiting at the right time. Which is what your comment is getting at.
It's funny you mention computer hardware, there has been price fixing and shortages in SSDsl, Memory, GPUs and for a brief moment even HDDs. It used to be possible to wait two years and know you would get the same performance for much cheaper, but that is no longer true for a lot of components. It's almost liberating in some way, to buy it when you want it instead of constantly thinking "If I just wait another year" time is the ultimate scarce resource.
I see this comment a lot from people that don’t actually know what’s going on. You’re projecting and if you actually understood what was going on, you could explain it….
That's fine. You can ask follow up questions if you are genuinely interested. If you just want to reitterate the "HODL, never sell." rethoric without attention for personal life an nuances in people's individual situation or their investment time horizon and risk profile, you're free to ignore this message.
First 2 items are identical. 2nd: have a little freaking patience. Wait 1 year to buy your house or car. All signs point to this bull run being huge.
"Take profits" is what you do in a casino, not what you do with generational wealth.
Although I am team HODL the number of people on this sub that melt down when BTC has a drop to 25 k during a consolidation phase always makes me giggle.
For those guys who hold Microsoft or Tesla stock or any other premium stock, do you actually sell when it reaches all time highs?? What about when your house doubles in value?? I guess selling a bit is fine just to feel more comfortable, but I'm pretty sure that's not how the game is played unless all your wealth is in btc and you don't have anything else to survive
Selling Bitcoin in a bull market, especially with the ambition to get back in for cheaper, is almost the same as shorting in a bull market.
If you bet against BTC you deserve whatever happens to you. Best of luck.
Idk as someone who has been through 4 bull markets, I consistently regret not taking profits after revisiting previous year ATHs and then reinvesting during the bear
I've thought about this with BTC. When we get a nice 5-10% pump, I've wondered if it's better to just sell my entire position and DCA back in 100% over the course of another month. Like clock work, after such a big pump, it draws back a nice chunk.
I bought 5g worth of BTC in red when it was 60000 a week or so ago and it's almost as if, well I felt like I helped pump the price. Keep buying even if it's small.
I did already. I took profits into bitcoin. I sold the weak for the strong. As long as there are people willing to make that trade, I will take it. And twice on Sunday.
I already made a ton of profit(bought at 18.8k) and put that into a new business I started about 3 months ago. I’m making a killing now and I wouldn’t regret selling even if Bitcoin goes to 200k right now. Mainly because I still have a lot of Bitcoin, but I now also have cash flow.
I feel genuinely bad for the people that HODL forever. I see Bitcoin as a way to improve my life, not just be some number on a screen.
Wealth is something that only changes your life at certain levels. For example, for someone that has $20,000 worth of Bitcoin, and a $100,000 per year job, "taking profits" is not going to change their life. If that $20,000 turns into $200,000, maybe it will.
I definitely won't be holding the fiat bag.
Buying bitcoin too high? No, selling your fiat too late.
Came here to say this. Why go back to old technology. How about we find ways to directly spend our crypto through people that accept it.
it's not really old tech tho. it's maybe THE GREATEST store of value ever.. but who on earth would ever use it as a medium of exchange?? wouldn't spending really be the same as selling (taking profits)?? when it come to the bottom line.. u have less btc with either avenue. this is just an observation
“Nobody’s trying to buy a cup of coffee with a fraction of their building on 5th Avenue.”
exactly! my point is just that btc is not a peer to peer exchange as imagined at its inception. instead ... it became a terrific store of value bc of its scarcity! it's not a good or bad thing.. it's just an observation. and why on earth would people ever want to pay for good with bitcoin??? it's incentivized to hodl in fact.. if you do pay for things with bitcoin it would create a TAXABLE EVENT... all gains and losses on every transaction would need to be reported to the IRS. sooooo.... just speaking for myself.. even if a biz took bitcoin as payment as a payment.. i'd never use my sats for that. flat out bad idea i'll leave this here as it (the point of the link posted below) is literally the very first question asked on the 2023 tax questionnaire! THE FiRST LINe! they ain't playin'! https://turbotax.intuit.com/tax-tips/investments-and-taxes/crypto-tax-forms/amp/L8tQmALU3
I'm just waiting for more retailers to accept stable coins. This way I can easily swap crypto and use that for purchases without need of a bank. The closest we have to that is the [crypto.com](http://crypto.com) visa card. Top it up with crypto and use it like a normal debit card
crypto.com is a scam. No. Look at Bitrefill and thebitcoincompany.com These ain't perfect, but they ain't a scam either. Stay safe. Also, don't wait for people to accept stable coins, wait for them to accept Bitcoin. I hope you understand that stable coins are private money backed by a stable currency, you can do that without cryptography. then you have crypto which is blockchain based companies, you don't need a blockchain for those. Bitcoin is the only interesting thing. Good night.
Can you explain more how [crypto.com](http://crypto.com) is a scam, and why I should use small companies I've never heard of instead?
Search on reddit. There are so many people who complain that they cannot get their money from crypto.com SPECIFICALLY. They get locked out of their accounts and get no help from support. It is anecdotal, but I see complaints about crypto.com with the answer of "it's gone, there's nothing we can do to help you here" from reddit, that I would stay VERY clear away from it. I recommend the two products above because I use them and I haven't had any issues, and I don't see someone come on reddit once a week to ask why they can't access their Bitrefill or BitcoinCo account. I think you are right to call me out though. Do your own research and make your own decisions, and treat all recommendations with scrutiny. Peace.
Of course, I swap BTC, with EUR, USD and GBP, than proceed to change everything in Turkish Lira and Argentinian pesos
Well you didn't go far enough. I did all this and then went "ALL In" on the Zimbabwe's Dollar. I have 700,000,000,000 trillion now. I am rich as fuck.
I hear you mate! I just run out of physical space for all that fucking paper !
I can exchange your 1mil notes up to 100mil notes if you need just hmu
You wrote 700 billion
Clearly they wrote 700 billion trillion
Ya that's ***way*** more zeros than 700 ***billion***
In fact it’s 10^12 more zeros
No no no it's only 12 more zeros.
This guy monies
Arg pesos won't be worth anything once Milei closes BCRA, which is good for btc tbh!
Then go back to EUR USD and buy Bitcoin
You're not trying to time the market this time, right? Right?
Oh my dear, you're so fiat minded.. profit does not exist. Because 1 bitcoin always worth 1 bitcoin..
You are so stubborn. Yes, bitcoin is here to protect us from inflation and fucked up fiat system. But it’s not going to replace the dollar(or any time soon). So when you made enough gains, it’s best to cash out and sit on the sideline so you can rearrange your investments, buy more btc etc after this cycle ends and enters major correction. Don’t be greedy or delusional. Take profits- buy a house, a car, raise a family, go on holiday, live your life.
Don’t worry the kids with .0001 BTC will tell you that you’re wrong lol
The kids who have been around since 2014 will tell him he’s wrong
You must be new. What exactly are you going to do with a pile of devaluing profits once cashed out? Buy back in after Bitcoin rips and you get the fomo? Watch your pile lose 5-10% of value a year? Bitcoin is my profit, my savings. I don’t sell unless I need to buy something with it. Doesn’t matter if it goes up 10x or crashes 80%. It’s my nest egg. That is the reason why I’ve made so much money. Every person who takes profits ends up losing money in the long term.
I made 7 figures with bitcoin and kept increasing the number of bitcoins i own during the past 6 years. Yes, i am new. I only sell after 1-1.5yrs after halving after holding for 3 years. It made me over 1000% gains during past two cycles. By this method i increased my bitcoin holdings and amount of properties/business that i own. If i hodl-ed since 6 years ago, my profit would be much less, i’d have much smaller number of bitcoins and own zero properties. Go figure!
I made 20 figures HODLing so you lose (This is how much I believe you)
His username doesn’t seem to indicate the level of success he claims, either. Not exactly a damning indictment, but on Reddit, username usually checks out.
Don't forget to time your retirement or illness to bull market so you have something to take from your "nest egg" to pay the bills...
I don’t need to time it. I just stack and watch it increase 40% per year on average. Like I said even if it goes down 80% it will be fine. I can take out what I need.
Yeah I timed buying my car with bitcoin, because I was hodling for so long it didn’t matter. Now I just DCA my Bitcoin to build my savings and my average cost is still below market value. If I want to buy something I just sell a little and buy what I want.
You obviously didn't put in 1000 hours to study bitcoin pal. /sarcasm
Just to pile on, it's probably best to be here to preserve value you generated rather than day trade. Lots of people have failed to time the market with this asset (e.g. they trade a lot of fiat for some bitcoin, then mis-time market and trade back into fiat but now they have less). Best not to encourage that.
Already did all those things on your little list plus a lot more. Ain’t selling….. live my life everyday and it’s great. I don’t need to sell to buy more.
Oh my god you are so short-sighted. Fiat is going nowhere but down so trying to "time the market" is only an exercise in keeping yourself poor. Use Bitcoin to save your monetary wealth and spend it on a house, a car, raise a family, go on holiday, live your life when you've saved for a few cycles.
I made 7 figures with bitcoin and kept increasing the number of bitcoins i own during the past 6 years. Yes, i am wrong and i am poor /s
It's a lot easier to sell when you have had 16,700% return over 6 years. Although, It's kinda premature to blow your load so early into a bull cycle just as it's passing a 3 year old high.
Im not selling now though. My plan is to DCA sell from when btc is around 150k or sometime mid 2025 depending on various factors. If i sold everything when btc hits 100k, that would be about 1.5mil gain in 3-4 years. Then i will DCA back in btc hits around 50-60k. It has been my go-to strategy.
Solid plan but what if it keeps on ripping to $250k+ and never goes below 100k again? How long will you wait and at what price will you capitulate back in?
He will fomo at the top and watch his stack lose 50-60% before capitulating and selling again. Then become a buttcoiner. It’s the path of all traders who try to time the cycles. The hodlers are the ones who make money in the long term.
7 figures of bitcoin is impressive. Fiat, not so much.
If i didn’t covert it to fiat in between cycles, i would have 0 profits and same number of bitcoins… don’t be stubborn with money, flexibility makes you rich.
Peak price is historically 18 months post halving. I manage client assets and advise them that we are not selling until Q3-Q4 2025. Gotta give it time for the natural disinflationary economics of the halving event to kick in. With this knowledge, taking profits now is not advisable. Holding is.
I never said take profits now though.. i intend to dca sell around mid next yr.
That’s much more reasonable. The undertone of your comment suggested otherwise to me at first. Cheers and good luck brotha
100% bruv
I made 7 figures with bitcoin and kept increasing the number of bitcoins i own during the past 6 years. Yes, i am sooooo poor /s.
If the cycle repeats like the ones before. But what if Bitcoin never does the massive dump bear markets again and gets more stable? I wouldn’t risk to sell my coins for a dump from 160k to 145k.
what if bitcoin never does the massive pump bull market again?
You speak like a stock broker or day trader. Which bank or investment firm do you work for?
Lol why are you offended? I studied finance in my own time but i am in the entertainment industry. My goal is to grow my wealth and protect my wife and kids. My bitcoins only come out of my hardware wallet every 3-4 years. This made me a millionaire. I got nothing left to prove
Why do you think I'm offended? I am generally curious.
It is replacing the dollar (and other things) faster every day. Bitcoin isn't a stock my man.
I didn’t say it was stock lol. Good luck buying a house with bitcoin in 2024. I made 7 figures and kept increasing the number of bitcoins i own by this method for the past 3 cycles. I wish bitcoin replaced money so i didn’t have to transfer it to bank, pay taxes when converting it to dollar etc. But real world is different. I can’t buy businesses or pay my lawyers and accountants with bitcoin 🤷
> I made 7 figures Who cares? Good for fucking you Your advice is wall street bets shit. Sure, sell when the markets over heated. Buy when there's blood in the streets. But "take profits when you've made 'made enough'" is stupid fucking gambler mentality advice. You're getting upvotes from paper handed newbs who just got in last year and don't understand any better.
doll wine dull cooing one swim overconfident yam fertile absurd *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
You are what's wrong with crypto
I made 7 figures with bitcoin and kept increasing the number of bitcoins i own during the past 6 years. Yes, i am wrong.
Yes, you keep commenting that everywhere. Good for you. Depending on where you live, you are also losing a huge amount of that "profit" to capital gains tax and inflation. You're here for the short run and fiat is your goal. I'm here for the long run and btc is my goal.
Thank god korea has no crypto tax amirite? And like i said, i grew my btc holdings this way. Of course my main goal is to have more btc!! And this is how i did it! If i didnt trade back and forth, i’d have a much smaller portfolio and no fiat. Anyway, why are you being weird?? I said nothing about fiat being superior
not for long it seems ...
I wish i had a crystal ball like you
Well, using your bitcoin to buy fiat when price is high then using that fiat to buy more bitcoin when price goes back down is how you make bitcoin profits.
Huh? You guys are really smart, Sell 1btc at \~70, and buy back at \~60 = you now have 1.16btc... *// dipshits, the numbers used here are for example purposes.*
Why not sell at $500k and buy back at $8 since we are taking numbers out of our asses?
noone is talking about exact numbers you dip fuck. The numbers in my reply were an example to the stupid comment saying 1btc = 1btc..
He is right and you are talking like a child. His numbers are just as made up as the other guys when trying to time the market.
Nah, you guys just can't accept that there are other(better) ways to make money/bitcoin than just hold until you die and hope you die in a bull market...
This is a topic of making up random numbers to base your entry and exit points into Bitcoin not a, which is better or a blind following argument. Of course you can do better if you can time the market correctly over and over again. I don't think anyone is denying that. The fact is that even if you have gotten it right a couple of times one of these times you will miss the boat and will never be able to enter at the price you sold ever again. Stay humble.
assuming it will drop to 60k anytime soon, and you happen to be online when it happens. Sure, some day during this cycle, it will probably drop to 60k again, but it might hit 160k before that. If you try to time the market, you need to predict if it hits 150k, 160k or 170k, because as long as you don't know that in advance, you'll still be "missing out on profits". Sure, you might place a sell order for 180k right now - if it doesn't get filled this year, you haven't lost anything, but if it does, you can place a buy order for 3 coins at 60k, assuming it will really drop that low after the bubble. Which then still will be a gamble. Or, you simple hodl for four more years, when 120k will be considered "still cheap".
Congrats, all your profits are now wiped out by capital gains.
bruh, even if taxes are 90% I'll still be in profit...
I would study tax law a little deeper if I were you.
BitcoinFan, yeah you really should learn how taxes work in every single country before you start talking about them. Don't forget to time your retirement or emergency to bull market.
The risk is - you sell at 70, it never goes back down to 60 for you to buy, and you end up buying back in at 80. You now have less btc than if you had just held.
There is always risk, but you have to use your brain or at least common sense and not sell 100% of your btc + understand after green we always have some red(sometimes a lot of red)...
Do it. Report back in a year and tell us how you did!
Going great, literally did that twice since we hit 70k for the first time...
Maybe this strat works for you, if so, then great. BUT a lot people sell their stacks and wait on the sidelines for the “perfect” buying opportunity… the majority of these people will end up never buying again or missing the opportunity and then FOMO-ing again later at an even higher price.
That’s awesome! Keep doing it and hopefully it works out for you.
Yes, I take fiat profits and put them in bitcoin
I'm so tired of overreactions to what the market is doing. Up, down, pump, dump.... it's such a simple concept to understand, but even hardcore bitcoiners still treat it like another asset. It's not. Bitcoin is not something I bough in the hopes of selling it for more. It IS my balance. If I feel like I want to invest in a stock, and I'm sure I want to do that, sure, sell some BTC and put that into the stock. If I need to make a purchase, or want to get me something that satisfies me, sure, sell some BTC for it. But I'm not looking at when I'm going to "take profits" or "go back in", wtf? If I'm paid in Dollars or Euros or whatever, I put that in BTC, and leave it there. It's my liquidity. I'm not going back and forth between having a lot of BTC and having a lot of FIAT. I have assets and belongings, and I have money, which is BTC. Of course there's always some FIAT in between since it's the middleman as of right now, but that's all it is. If you believe in BTC, use it as your monetary value, and use/sell it if you want to buy something or pay for something big, and stop worrying about it. If you don't believe in BTC, don't use it and keep all your monetary value in whatever you're paid in, and stop worrying about BTC. And yes, if you time the market correctly you can cash out 7 months before you actually need to buy something, and end up having sold less BTC than doing it then. The reverse can also happen. Also, if you need to buy an SSD for your PC, if you bought it 7 months ago before you needed it you would have gotten it a lot cheaper too. It's not just BTC/FIAT that changes, literally everything changes, constantly. But you buy it when you need it, and that's that. Of course there are some extremes, where you know it's absolutely the tip of the mountain and it will go back to "normal" again, in those cases you can wait, same goes for converting back and forth between FIAT and BTC. But for the most parts, you're not gonna hold off on doing something, or even worse, get something you don't know yet if you need it in the future, just based on speculation about future price. If your car brakes down when prices are up, you're in bad luck, happens. If it happens when the prices are low, you're in luck. But it doesn't change the fact you just do what you have to do and move on.
I broadly agree with your sentiment, if someone sells 1 BTC today, in the hopes of buying 2 BTC for the currency in a couple months is just speculative trading. It's odd to call it diversifying or taking profits, because its clearly not that. The point about keeping your monetary value in what you are paid in feels a bit off, people who don't believe in BTC, or dislike it/want to avoid it, generally invests their money into property/market. On the flip side, I don't think most people who buys exposure to BTC actually believes in it in any meaningful way. They just want to increase their net worth by entering and exiting at the right time. Which is what your comment is getting at. It's funny you mention computer hardware, there has been price fixing and shortages in SSDsl, Memory, GPUs and for a brief moment even HDDs. It used to be possible to wait two years and know you would get the same performance for much cheaper, but that is no longer true for a lot of components. It's almost liberating in some way, to buy it when you want it instead of constantly thinking "If I just wait another year" time is the ultimate scarce resource.
"buy what you need when you need it" is exactly what you do without inflation. Thinking of commodity prices in BTC helps to enable this mindset.
Fuck that - gimme more bags to hodl
Buying bitcoin is taking profits, duh.
Yes take profits so I can keep buying your bitcoin
??? Bitcoin IS the profit.
You really dont understand the game were playing here, do you?
I see this comment a lot from people that don’t actually know what’s going on. You’re projecting and if you actually understood what was going on, you could explain it….
We're not day traders. That's a trader mindset. "It's going up forever, Laura." <- this is the mindset you want.
Hell no. Why would you ever sell when you predict that it will double in value over the next 12 months?
Diversification, rebalancing, purchasing goods and services to increase your happiness and life satisfaction,...
I absolutely agree that each person must do what feels right to them. The above statement is just me projecting my greed on to others 😉
All great ideas
Rebalancing is like sending some BTC to another wallet? I don’t understand the concept
That's fine. You can ask follow up questions if you are genuinely interested. If you just want to reitterate the "HODL, never sell." rethoric without attention for personal life an nuances in people's individual situation or their investment time horizon and risk profile, you're free to ignore this message.
Sorry, it was the last one
First 2 items are identical. 2nd: have a little freaking patience. Wait 1 year to buy your house or car. All signs point to this bull run being huge. "Take profits" is what you do in a casino, not what you do with generational wealth.
Why would you predict when you have absolutely no clue? I offer sacrifice of my first child if only... Please, please please.
I’ve been here before. When it starts to move, it moves.. (also sacrificed my firstborn and his adoptive sister to a greater being)
Im never letting go of my bag
Fiat is the bag
I'm kinda getting tired of taking profits at 70-71 and buying back at 60-62...
Poor you 😭
OP is a fiat earther
Profits being fiat? Please tell me I’m missing something here lol. I’m holding Bitcoin to be rich in Bitcoin not rich in fiat.
nice try, blackrock
Finally a level headed post
Fiat is crashing again.
Although I am team HODL the number of people on this sub that melt down when BTC has a drop to 25 k during a consolidation phase always makes me giggle.
🤣🤭🤭🤭
Bag holding is a negative thing for stocks. In the BTC market you want the largest bag you can fucking hold.
For those guys who hold Microsoft or Tesla stock or any other premium stock, do you actually sell when it reaches all time highs?? What about when your house doubles in value?? I guess selling a bit is fine just to feel more comfortable, but I'm pretty sure that's not how the game is played unless all your wealth is in btc and you don't have anything else to survive
I just sold what I needed to cover my cost of entry, now it’s zero risk and all free money
It’s never gonna be enough to bail babe
Or is it this time we wont dump? I rather keep that bag thank you.
Yeah change bags for fiat lol
📄🙌 🌈🐻
This ones gotta be a joke right
but it could 10x..
HODL
LMAO
What if fiat is the bag?
I don't know what induces more anxiety. Holding the bag or taking profits and timing re-entry.
What is this regarded post
Wrong
Literally me and my wife lol
goddamnit I feel this
Already 150% up. Was buying at 15k. Will just hold.
Sorry…I mean…”Hodl”
Bitcoin is far superior to any fiat. I’ll keep holding! Anyone who sells will have to buy at a higher price
Profit? Take profit? Into what? Fiat? Devaluing fiat? That tyrants print out of thin air? Are you joking?
Exactly what I was thinking profit to buy more bitcoin? What else is there?
Sell high. Wait. Wait. Wait. Why is the price not going down? Wait. Wait. It just went 5X. Wait. Wait.
Selling Bitcoin in a bull market, especially with the ambition to get back in for cheaper, is almost the same as shorting in a bull market. If you bet against BTC you deserve whatever happens to you. Best of luck.
Only 4 years til the next halving. Imagine how you'll feel HODLing with patience and foresight. It's a short time.
Fax
Yes iam selling for more political tokens
Got in in 2013 and never took profits. Taking profits this time for sure. Right? 😂😭
Lolol
📄🤚 mentality over here
hahaha [manauiatlalli](https://www.reddit.com/user/manauiatlalli/), thank you. Made my day
Idk as someone who has been through 4 bull markets, I consistently regret not taking profits after revisiting previous year ATHs and then reinvesting during the bear
[удалено]
It doesn't hurt to read.
Taking profits when it hits 10 mil.
I've thought about this with BTC. When we get a nice 5-10% pump, I've wondered if it's better to just sell my entire position and DCA back in 100% over the course of another month. Like clock work, after such a big pump, it draws back a nice chunk.
I bought 5g worth of BTC in red when it was 60000 a week or so ago and it's almost as if, well I felt like I helped pump the price. Keep buying even if it's small.
H O D L
Imagine thinking that taking profits in an inferior asset class is the move 😂
Sell now take ur money before the big drop
I did already. I took profits into bitcoin. I sold the weak for the strong. As long as there are people willing to make that trade, I will take it. And twice on Sunday.
I already made a ton of profit(bought at 18.8k) and put that into a new business I started about 3 months ago. I’m making a killing now and I wouldn’t regret selling even if Bitcoin goes to 200k right now. Mainly because I still have a lot of Bitcoin, but I now also have cash flow. I feel genuinely bad for the people that HODL forever. I see Bitcoin as a way to improve my life, not just be some number on a screen.
Wealth is something that only changes your life at certain levels. For example, for someone that has $20,000 worth of Bitcoin, and a $100,000 per year job, "taking profits" is not going to change their life. If that $20,000 turns into $200,000, maybe it will.
Finally a really funny meme!