Topic: Long Term BTC Holders Who Still Haven't Cashed Out Any Big Profits? - page 3. (Read 368 times)

Okay so you have coins from a while back.  You spend it but wouldn't need to if you didn't right?  Could you go into your bank savings for that or you don't want to do that?  You want to use some profits right?  The way you are talking, I assume you spent at least 1/3rd of your profits at least?



But do you think there are people that might have a lot of btc but live real poor and just dip into their bank savings only when they have to?  I mean imagine someone with 5k in bank savings and low paying job where they make just enough to make their bills.  They also live in a cheap apartment and cheap with everything else.  But someone they might have say 10 btc or more saved up?  That would be a very extreme case right?  However, I think some people like this probably do exist?  I recall there was a show on tv named real cheapskates and you had millionaires who live like they are poor.  However, are there long term btc holders that have a good amount of btc now but still decide to live in a cheap apartment and have a low paying job where iot basically covers their life expenses?  Or that has to be very rare?  Imagine someone with 10 btc for many years but only cashed out maybe 1000 dollars profit total or less so basically almost nothing. 



Would it be stupid for not cashing out anything because besides being able to say rent a better apartment, they could use a good portion and just put it in the bank to earn interest?  Then again you have people that say don't sell btc and selling it for fiat is bad since fiat is losing value? 

i think it depends on the age group

if one is a bit on the older side, they might see bitcoin as a retirement plan these people mostly lived their life working and the money they earned from that were used to pay living expenses and maybe half of it went to bitcoin they now see bitcoin as the money they’re gonna use to live life after they stopped working however there are a wide range of investors even young adults are starting to invest early maybe they haven’t started working yet but investing in bitcoin is making them hope that they would not have to or maybe they would use the profit to pay for their education

That's really great and I think you've made the right prediction about the growth of the bitcoin and other altcoins in a better way. Most of us used to be wrong and the same had made us not to hoard. Myself bought Ethereum when it was around $100, but I hadn't predicted well about the future. Sold it when it was around $220 and now how it had grown.

i have coins from 1-11years ago
i dont starve,.. instead i travel, i enjoy, i spend, i entertain,

i dont need to spend huge amounts of coin, so why sell whole hoard early
i have many stashes over time i keep separate and just use/spend/play with small amounts of a small stash for my lifestyle

im comfy.. i dont struggle, worry or stress over finances

I could imagine there are people that are like this but almost all the majority of these are those who have a good or very well or high paying job and can pay their living expenses just fine?  Thus the same people that can put a lot of money in the stock market so these 3 or 5 or 10 or more btc isn't that big of a deal for them and it's basically a long term investment?



But there has to be very little people that hasn't cashed out any decent profits if they have low income right and small amount of money in the bank?  Like are there people that have a low paying job and barely can pay their life expenses and what they make cover their expenses only and say they have $5,000 in the bank but this person might have something ridiculous like 10 btc or so?  Such that this person have 400k plus worth of btc but only 5k in the bank and their job only covers their life expenses and they might dip into their bank account savings a few hundred dollars a month maybe once or twice a year?  And say this person is still living in a cheap apartment and cheap with everything else.  Is someone like this rare?  However, I got to assume there are some long term btc holders that are like this?  Such that their goal might be okay they have 10 btc, they will cashout once btc is say 300k or so and cashout 1 or a few btc at once and then buy property and put some in banks for interest?  Thus they want to cashout only when they have enough to retire and don't even want to spend even 10% of their profits for a new car or to move to a nicer apartment for a year?  Do people like that exist?



Now to take it to an extreme case, I got to assume that are very few people that are like what I described above but have more btc than that?  Let say a person has 25 btc and they also have 5000 dollars in the bank and their low paying job covers their life expenses only so they can't save much at all, say $1000 max a year.  Also this person lives in a cheap apartment and lives cheaply.  I got to assume someone like that rarely if ever exist or there are some people like that?  The thing is I heard many millionaires out there are very cheap.  But are there people that might have bought a total of 25 btc at 2k each for 50k total back years ago and have over a million dollars worth of btc and never cashed out any profiut or at most 1000 dollars profit and just have 5k in the bank while barely getting by with their low paying job?  I got to assume almost no one or know if anyone that would be like this if they were a long term btc holder?  The only way this would make sense is if this person already has a lot of money in the bank and in stocks and real estate and/or high paying job.  But if low income and owning no stocks or rental property and barely getting by, there are very few people like this?  Like imagine someone who lives in a van but has a lot of btc and just living as cheap as they can until btc hits the amount where they would then buy a house and just put all their money into savings account and live off the interest?

So I'm curious.  Are there people here who bought btc or altcoins... but mainly the big altcoins like eth etc... that bought these coins years ago... let say at least 5 years ago or more and still haven't cashed any real profit at all?  Or is someone like that very rare?  Now let's say they might have cashed a few hundred dollars in profit at the most or 1000 dollars profit which isn't that much for at least 5 years.  Thus they haven't cashed out real big profit.  



Are there many people that have say at least 3 or 5 or 10 btc or even more where they haven't cashed out profit at all and been in this for at least 5 years?  So if you bought that much btc back at least 5 years ago, you are in profit with the current prices today pretty much no matter what unless you bought at the peak.  And if so, what is the reasoning for these people?  Is it because they want enough to retire?  Enough to buy a house? They don't want to dip into their btc unless they absolutely have to?



Now my other question is are there people that have say 10 btc or more even and are living paycheck to paycheck and have close to little in the bank but just pays their bills every month but just keep their btc as their life savings and rarely touch it unless you absolutely have to?  I got to assume very few people are like this right if they have say 10 btc or more?  Let's say whatever amount of money that person make a year and after taxes, they barely have enough to pay their living expenses and they are lucky to save even $1000 a year to put in the bank.  Let say this person has $5,000 in the bank only which isn't much for most Americans but then again, a good portion of Americans don't even have $1000 in the bank.