Topic: Introducing myself (Read 324 times)

Do you want to say goodbye completely to this area at the very moment when, practically, bitcoin is on the verge of ascending to a new stage of acceptance by humanity? Given this, it would be reckless to get rid of all bitcoin and, in my opinion, one should leave some of the wealth in this type of asset. As a diversification and alternative financial instrument. Also, for me, after immersing myself in bitcoin technology, would look like a kind of betrayal (total disposal of bitcoin) in relation to the ideals (financial freedom) that bitcoiners value.

Welcome lokstar. It seems like you have little knowledge about Bitcoin but do well to go round the forum and also feel among, ask your questions and also drop your comments on whatever interests you and the area you feel to be enlightened.

While in this forum your engagement matters a lot no body teaches you privately but your engagement does. Do well to tour the forum and you will be delighted at the end you found this community.

Since 2016? That’s a quite a long time and I believe you have already made many folds of your investment by now. Seriously, it takes patience to hold bitcoin for a period of eight years without any form of distraction. Although, it is surprising you’re just joining the forum despite hanging around for a while as you said in your post. By the way, you just joined and that’s what matters. Read the rules here on the pin posts and explore.


I picked interest in your last part because it is not ideal to get rid of your coins entirely especially when you have benefited from it holding. You can sell some portion to fulfill your plan and accumulate more when market declines.

If it means exit, then most likely he has no plans to get back into the market again. But I doubt if he will really stick to that knowing bitcoin becomes more interesting when its price increases even more. Maybe OP is just planning to take a break for a while and just enjoy his profits, but if he will see great opportunities to buy back again and continue holding, surely he will never miss that chance and get back into crypto again.

This is not only for OP but I am saying in general. While bitcoin still makes a good and high demand, then it's wise to strike while the iron is hot, so as not to end up regretting in the later part.

I guess everyone should set an exit goal and sell our bitcoin hodlings, not because it's the right thing to do, but mainly because we don't just buy to hold forever but we should also find the right time to sell and enjoy the fruit of our hardwork and patience while investing with bitcoin. So good luck to you OP and may you reap exceptional profits when that time comes. Hodling bitcoin for quite long years has never been easy, kudos to you for you haven't sell your bitcoin when others have resorted into panic selling.

It's just a matter of time before we finally set things straight, understanding the complex details to acknowledge and evolving round the system. We should be able to understand what we seek and how bitcoin operates in the current system. Understanding the principles of the system is quite complex but we have no choice than stick to new development.

Hello @Lokstar, welcome to the forum.

Yes, if you want to start a discussion here you must have an account, you can ask anything here as long as it concerns Bitcoin and other Alt.
Storing bitcoin since 2016 is not something that is easy for an investor to do, you also missed the ATH that occurred some time ago. How can you just miss ATH when you can get a lot of profit from that moment, then you can slowly accumulate your assets again when trading at a cheap price.

If the ATH we just passed doesn't interest you, it means you need to increase the amount of assets to welcome the next ATH. Bitcoin has a bright future, you can keep it as long as you want, but one thing you should not ignore, always keep Bitcoin in a wallet that you can manage with the private key. Then store the private key in a safe place that is not easily damaged, does not fade easily when exposed to water and does not burn easily.

I have read the same thoughts about taking an exit for this upcoming bull run and then will never get back to the market. But you can't just be sure with that because you'll not know if that interest remains when you're able to profit. And having the background in the market, you just want to take those opportunities so that you won't be missing those opportunities when the times are gonna be realistically low for the market and you might see it as that time you can use as buying time. You'll never know but we do like to see how this bull run would be greater than the last one.

You are officially welcome to the forum newbie. One interesting thing that caught my attention about this your post is your decision to only invest for a short term. I am glad you already have a plan for your investment, many are here without a clue of how they want to invest.  All they know is that they want to invest and start making money immediately.   Definitely, anyone can make money from investing in bitcoin but your expectations can be cut short if you put up the wrong strategies simply because you do not have a clue of what you really want.

A bitcoin investor who wishes to invest for a very long time should be willing to be patient too for a very long time. This cannot be compared to an investor who is only there for a short period of time.

As you have joined the bitcointalk family, do well to obey all the rules here. There's alot to learn here if you are really serious about learning and by the time we get to the next ATH, you'll be glad you joined the forum.

Welcome to the forum and you don't need to regret not having registered earlier. Nothing wrong with lurking and reading from the sideline and definitely better than those who register and immediately post basically some bs or meaningless things or worse cry like babies for spoon feeding. 

I also like your exit strategy and hope it goes well for you for what it's aimed for. Even if you sell all your bitcoin, so what. It's not that Bitcoin will vanish from our world and if you feel the need to buy in at some later time, why not. It's all good when your profit is brought to some good for you whatever you have in mind with it (I assume the asset you're talking about isn't something that won't last long).

May your dreams come true, you've done a fine hodl so far.

Welcome to the forum sir.

yes we have a pretty big opportunity for BTC in the future where indeed Bitcoin has entered into a much larger market at this time and it is an opportunity to continue to experience price increases from time to time its development, now BTC is getting bigger and more recognized by many people.

To avoid cases like Mt.gox we just shouldn't store our assets on exchanges, keep your bitcoin in a wallet with full control by yourself to avoid such events, maybe when talking about the impact on the market "decline" it is a very feared thing but we need to know that it is natural selection and to fix every flaw is to have destruction to fix.

Welcome to the forum.

Keep holding your bitcoin and do some DCA before a new ATH is hit.
2024 will not be the same as 2020 or any year below that. I mean, people's knowledge of Bitcoin in general is different or has advanced a lot compared to people's knowledge in the year above.
What we need now are people with knowledge who don't panic easily over issues like the Mt Gox incident and others.

That’s the most important thing here, you know when to sell and enjoy those profits, but nevertheless still aim to keep some for bigger, future profits. Bitcoin might probably stay for good, so hodling even a small amount of bitcoin will still result into creating a big income in the future. Don’t hesitate to sell your coins, as much as never used up everything you have in your wallet. That way, you can enjoy the profits at the present, as well as you also have upcoming future profits that will probably give you a blast once its price turn 5x or 10x from its original price.

One of the keys to see this come through is by holding on our investments, there is likely expectations that the market rises to more than hundred thousand dollars before or by the end of the year, we should just be hopeful and expectant on our investments.
 

Don't just invest in bitcoin, but instead, understand the way to make the investment and do the right thing, it begins with the knowledge we are having concerning bitcoin, don't leave your coins on a centralized exchange and so on.

Welcome to the community! I hope you like it here with us!

I, too, used to be a long time lurker before I made an account on Bitcointalk. I wonder if there is a larger demographic for similar people...

That's what I mean when I say that building a true empire requires time. The aim is to sell at the top.. That's wise beyond intellect, but it's intelligent anyway. acknowledging life's cycles and ups and downs. Life is like bitcoin: it's a gamble. Although we make plans, things don't always go as planned. It's charmingly unpredictable. It must be admitted. Selling your bitcoin could not be the end. It could be a chance for a fresh start, an investment, and an experiment. Bitcoin gets stronger as more people use it. Like a family or community, each of us has contributed to the creation of this cosmos. The time for the future is now. Believing, holding, buying, selling, and repeating all go on.

You bought bitcoin in 2016 which at all point you are at a roll with your profits and am am sure that you are taking advantage of the volitility to cash out some of your profits, to enjoy you investment at least at this point in time, because from your comments it shows that you have a long term picture in mind and at such you should be equipped with all the necessary tools that will aid your success as an investor which includes making and taking profits along the way and not allowing greed for future more gains to take away the pleasure of investing in asset like bitcoin.

This has been what many people don't know, every one is talking about the future but haven't thought about now, like we don't even know what the future holds because we can even spend the whole of our lives investing in the future but all of a sudden everything might be gone and we look so confused and begin to regret that if we had known we would have enjoyed part of it in the past when we were young instead of spending so many years making investments and even if we are successful investors it makes no sense enjoying wealth at old age when we are almost getting close to the grave and this is why we ought to also enjoy ourselves while making investments and not only focus on making investments and depriving ourselves so many fantasy of life just because we want to have a good future. We can still enjoy our money while we are young and still make investments that will help us in the future. The younger is the better because you are still energetic and vibrant at that young stage of life.

I know some people will say that the reason for investing so much in the future is to make a better life for their offspring, it isn't a bad idea but making so much investment for your loved ones is also a way to make them feel lazy without knowing the efforts put together before they got such privilege and in such situation they can live a larvish lifestyle because they don't know the pain and determination you took just to secure a better future for them.

Reading such stories, I always imagine a successful person who practically does not need money. After all, the long-term and inviolable storage of bitcoins for quite a long time speaks volumes about your financial situation, doesn’t it? If this is so, then no questions arise, but a lot of time has passed, and your savings could have brought you beautiful sums. Are there no desires or dreams to materialize them? Just a question: is there a purpose for saving? After all, we do not get younger year by year, and a person has only one life. I don’t want to enjoy in old age what I deprived myself of when I was young.

Hi all,

Thanks for the great replies. I've been made to feel very welcome here    I really should have signed up sooner.

There have been some great comments. I noticed a few comments about me exiting btc. To be honest it's been a rollercoaster, especially going through some significant dips. The phrase 'if in doubt, zoom out' definitely applies here. When I bought my btc would you believe I was kicking myself for missing the ATH of 19.2K in December 2017. From the dip that followed I decided to just throw all of my savings into btc as bank interest rates were so low, and leave my btc in cold storage.

Fast forward to today and I think I'm at the stage that I would like to take some profits. If I'm honest it's performed better than I could have expected and I believe it will continue to do so. Sure the cycles may smooth out a bit and be less volatile but I think bitcoin has a lot of head room left.

I do feel I could have been a lot smarter with my btc and made use of the dips etc but thats all hindsight. I'm by no means a trader and I don't have a whole lot of understanding of the markets. If I'm honest I'm sometimes surprised at the type of news that can make moves in btc markets.

When I purchased my bitcoin I remember it being mentioned in media because of the halving. I also remember making my first purchase at the time wasn't so simple. It's certainly got easier now.  Also at the time it was the fact that savings accounts interest rates were so low it made sense. I also don't mind risk. I don't mean risk of losing money but simply having to wait longer than expected for a market to reverse bearish momentum. I feel the worse thing people do is see a dip, panic and cash out only to find btc recovering and surpassing the previous price.

I'm actually exiting into an asset rather than converting to fiat. Although I will need it in fiat for a very short time. The thought of cashing out fully makes me sad as it's a very exciting space. I feel we have lots more to come. I think somewhere in some wallet I will still be holding some btc. Maybe my initial input. I'll just take out my profits.

Welcome to the forum OP. If you've bought Bitcoins since 2016, then this forum is the best place for you and I hope you will share valuable content with us.

But if I were you, I wouldn't sell all my bitcoins and keep at least part of it for more profits (for example until 2028). Although holding Bitcoin for 8 years requires patience and I congratulate you. You are a real BTC holder.

Thats what I call patience, the kind of patience you need to build a real empire. You want to sell at the next high. Thats smart, but its more than just smart, its wise. Understanding life's cycles and ups and downs.  Life, like Bitcoin, is a gamble. We create plans, but occasionally they fail. Its beautiful because its unpredictable. It must be accepted. Selling your Bitcoin may not be the end. It may be a fresh start, a chance to experiment and invest. Bitcoin grows stronger with increased adoption. Like a family or community - we're creating this world together. This is the future. Continue holding, buying, selling, believing and repeating.

Same here. I would like to take most of my profits just right before the bear market starts but it doesn’t mean I would totally abandon bitcoin. In fact the bear market might be the ideal time to buy some bitcoin as the price will drop and I can get it for cheaper price then wait until bull market starts again.
People are definitely going to build stronger and more resilient system to protect bitcoin but as this develops, there will also be stronger attacks trying to penetrate bitcoin.

The future is uncertain but my hope for bitcoin remains unwavering.

Yeah the end of 2024 and the beginning of 2025 quarter 1 may be a lot of investors expect where bitcoin can bullrun again of course they are looking forward to profits.

So with the upcoming cycle you will get out of bitcoin and still keep a little bitcoin? Do you feel bitcoin is already high and difficult to accumulate, this is what I understand now.

In 2022 there are many problems with large companies that collapse, of course FTX and several other institutions, while Mtgox has long happened in 2014.
Rest assured that in the next 10 years bitcoin adoption will be more developed.

I do not like to talk about 'exit plan' with BTC, because why would one want to sell all of their BTC's to fiat, a currency that is affected greatly by inflation, especially when it is a fiat currency of a third world country. You can sell a portion of your BTC to buy things for your pleasure or to diversify into different assets, but selling all of it is a no for me.
Collapsed and failed centralized exchanges has nothing to do with BTC or its future, custodial services are vulnerable to things like that, because there is a central authority in control, and if you leave your funds in such service, your safety is in the hands of those who control it, and with people like sbf running an exchange, it is never a safe option. Your BTC should only be stored in your self custodial wallet.

congratulations as you set to meet up with your goal after holding and accumulating for such long  periods of time.
If I may ask, do you hope to meet a new ATH in a quite short run now or you would hold until the bull run while reaching its ATH? I asked this because the current ATH was not a lead of the bull run even but of a just normal market pump.
So what if we experience a new ATH while the bull run is still ahead, would you still opt of the industry? And again, it is unpredictable to believe the bull would take place this year and investors on a short term goals are the once craving for this bull run to be expected sudden while those on a longer goal or those who are not satisfied in their accumulate assets are craving for a delay of the bull run until the accumulates so much to their satisfaction just like you did hold up til date which is as a result of your goals.
So, we all live by the market sentiments with unproved predictions.
I am also interested to ask why you want to exit after making much profits even when the market has not lost it reputations of productiveness? Have you achieved a much money to serve with the rest of your life or you think bitcoin does not have that potentials to set up a retirement goal in the system?
I guess everyone has their personal goal in the industry though but for me, I am set to take profit as much as the market could provide and I am gonna rest assured of parting part in investing for my retirements as well.

That's important, IMO. If you think you can make a good profit after all these years of holding, then sell. But don't sell everything, because in this situation you can have your cake and eat it too. You can enjoy the profits and save some for the future when you can enjoy more profits.

More people are certainly going to adopt bitcoin. My observation from even my local community is that I am seeing a lot of people from different age groups ask curious questions about bitcoin, cryptocurrency, and blockchain technology. The effect of this is a gradual adoption of bitcoin due to increase in knowledge.

This is the best intro I have read on the forum.

You already know what you want and you are doing just that. Glad that you have registered on this forum to add your voice and opinion to ongoing discourse.

I want to believe that you already know the rules of the forum because the knowledge of bitcoin isn't enough to thrive here. They are simple rules to abide by. Well incase to missed it, I'll drop a link to them. Unofficial list of (official) Bitcointalk.org rules, guidelines, FAQ

Welcome to the forum @Lokstar!

Feel free to express your views here and do ask the community if you have any questions. I am uncertain what took you so long to be part of the biggest Bitcoin community. I hope your experience here with us will help you to understand the significance of Bitcoin.

By the way, it would be good if you move your topic to this board - https://bitcointalk.org/index.php?board=39.0

It is for those who are joining the community and need some help to understand the forum and Bitcon.

Hi,

I've been a long time lurker here but really thought I should setup a login. I've held bitcoin since 2016 just after the halving. I'm hoping we have some exciting times ahead. I managed to use the last halving to accumulate a bit and I've hodled ever since.

I think the end of 2024 will be interesting time, and will hopefully cement some good profits for us all.

I do have a plan for my bitcoin and it's looking like the next bull cycle ath may be my exit from the space. Although having said that I would like to keep a some btc.

For the future of bitcoin I hope the space becomes more resilient and we see less issues like Mt Gox etc. I also hope to see more people adopting bitcoin but for the moment a lot of people just don't understand it.