Long Term Holders - When Do You Plan To Cash Out? - page 5.

Ultegra134

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Quote from: qwertyup23 on March 27, 2022, 03:57:55 PM

Quote from: Ultegra134 on March 27, 2022, 03:30:51 PM

One of the things I regret the most was not holding the Bitcoin I had acquired a few years ago, I didn't really need those funds but had cashed out a large chunk of them. Luckily, some of which was saved till now and was invested in DeFi projects and managed to earn a decent sum of money.

After this experience, I'm trying to save as much Bitcoin as possible. I'm not sure when I'll withdraw again, certainly not before surpassing the last all-time high. Currently, I'm not need of funds, thus, I'll keep on holding.

I feel you and this experience also costed me an opportunity of not taking advantage of BTC's volatility and inflation.

Back in 2017, I was privileged enough to participate into various campaign signatures where I earned a handful amounts of BTC during my stay. Since the price of BTC was relatively low (around $5,000-$6,000), the denomination and pay of each campaign signatures where high. Due to financial difficulties, I had to cash out my BTCs weekly in order to provide for my education and materials since I was a college student at that time.

Fast forward to today's year, if I did not cash out my BTCs from all the campaign signatures I have participated, I would have saved at least $30,000+ which could have granted me an opportunity to purchase a car for my dad. That is why, this expensive lesson taught me something- to at least cash out my BTCs if I direly need them. I could have worked my ass-off by doing part-time jobs but I chose the easy way out.

Wasn't paying attention to the thread and hadn't seen the latest replies.

Trust me, I know exactly how you feel. A few months ago, I stumbled upon some signature campaign spreadsheets, back from 2016-2017. The payment amount in BTC was huge, compared to now, even the lowest paying ones could eventually, if you were persistent enough, set you back with a decent sum of Bitcoin.

Unfortunately, most of these earnings are now sold, at a way lower price, compared to what we have now.

Quote from: Vaculin on March 28, 2022, 06:52:45 PM

Quote from: Ultegra134 on March 27, 2022, 03:30:51 PM

~Snip~

If you have no important stuffs to buy, then just hold it as much as you can. After all, bitcoin will always grow in value despite of its unpredictable price volatility. However, if you want to have consistency in making profits, then sell some of your bitcoin when a new all time high is reached. That will motivate you more to buy and accumulate more bitcoins when their price is low so you can start selling them at a reasonable high price. You may sell some, but leave some of them for long term hodling and for future profits.

I'm not currently in a huge need of money, thus, I'm not planning to sell anytime soon, unless I really need to. So far, I'm managing fine, Bitcoin has proven its worth throughout the years, the greatest things are yet to happen.

AicecreaME

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Quote from: DeathAngel on March 27, 2022, 04:06:57 PM

Everybody is in a different situation. Anybody who bought pre 2017 should probably have taken some pressure off their lives by buying a house or something. Never sell all your bitcoin, hell don’t sell over 50% but it’s a good idea to sell some to make significant positive changes to make your life better.

Can't agree more. We have different status and priorities in life. Hence, the time we plan to cash out varies from one person to another. Depending on the situation you are in, you can either hodl until you can and/or cash out from time to time whenever you feel like it or need it. After all, we should still enjoy the fruit of our patience even just for the little things.

Personally, I prefer to practice delayed gratification so that the reward will be bigger and more satisfying the moment it's already the right and perfect timing. It could be different to you and to others because some might have cash out now because they need to in order to survive or get by.

Pejoh Asu

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Quote from: Etranger on March 30, 2022, 08:05:08 AM

Quote from: bakasabo on March 29, 2022, 03:54:59 AM

I guess the right answer will be - when long term holder needs fiat, he will cash out. For me, there is no specific date. For me, cryptocurrency is not my primary source of income. I usually set some goals, like when Bitcoin hit ATH, cash out a little part to celebrate. Or right now I want to replace current laptop with a new one. As replacement is not urgent, I am planning to hold signature rewards until I get about $2k and cash out, while keep on holding crypto from trades.

I definetely agree that it depends on goals and circumstances. However, I set myself the goal of going into cache with a profit of at least 40%. If this percentage is not reached, I try to postpone the moment of caching out and look for other ways to meet the needs. And of course, I try never to sell everything I have.

Determining the goals to be achieved is very important to be able to profit, if the target has been met then you should immediately sell or create a new target again, and I prefer to sell when the profit has been achieved and see market conditions if the market drops again then buy immediately.

Etranger

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Quote from: bakasabo on March 29, 2022, 03:54:59 AM

I guess the right answer will be - when long term holder needs fiat, he will cash out. For me, there is no specific date. For me, cryptocurrency is not my primary source of income. I usually set some goals, like when Bitcoin hit ATH, cash out a little part to celebrate. Or right now I want to replace current laptop with a new one. As replacement is not urgent, I am planning to hold signature rewards until I get about $2k and cash out, while keep on holding crypto from trades.

I definetely agree that it depends on goals and circumstances. However, I set myself the goal of going into cache with a profit of at least 40%. If this percentage is not reached, I try to postpone the moment of caching out and look for other ways to meet the needs. And of course, I try never to sell everything I have.

Argoo

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Quote from: riso2015 on March 27, 2022, 10:20:07 PM

Maybe the right time to cash out the bitcoins we have is when the price is higher than the price we bought before, but for now I don't need funds, so I will keep the bitcoins I have, I will withdraw when I need them, and for sure when prices are high, so that I don't suffer losses like what happened in the previous year. But unfortunately now I only keep a little bitcoin, now I will learn from past experience, do not want to rush in cashing out the bitcoins that I have, I will hold it as much as possible.

Each long-term holder of a cryptocurrency has its own plan regarding the timing of its retention. In addition, life itself will always make adjustments in this matter, since from time to time we are faced with problems of necessary expenses. But anyway, it’s better not just to hold a potential cryptocurrency, but to use its peak price ups and downs to extract additional profit, which should be periodically withdrawn to fiat. It must be remembered that our capital in cryptocurrency is also subject to various risks, so everything must be done in moderation.

Finestream

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Quote from: DeathAngel on March 27, 2022, 04:06:57 PM

Everybody is in a different situation. Anybody who bought pre 2017 should probably have taken some pressure off their lives by buying a house or something. Never sell all your bitcoin, hell don’t sell over 50% but it’s a good idea to sell some to make significant positive changes to make your life better.

If anyone can keep bitcoin for the longest time, that's really good but most of the time, people do buy and sell to make consistent profits and create significant positive changes in their lives. I always want to be a long term hodler, but most of the time i end up being tempted to sell particularly when the prices reaches its peak. But of course, i never do all in selling because i'm still looking forward for a bigger value in the future. Well, its not bad to sell some of your coins as long as you are making profits from it and use it to create great changes in your lives.

OgNasty

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Personally, I'd like to see obvious signs of a top. A huge price increase with a massive volume spike while everyone is saying Bitcoin is the world's savior and we should all sell all our possessions to buy it. That's what the cash out period looks like to me. So long as there are still lots of people saying Bitcoin is a scam and won't be adopted, there is still room to run up. It's important to remember that the top will be when Bitcoin's future looks the brightest. Just like a few months ago when Michael Saylor was saying that Bitcoin would go up forever right before it lost more than half of it's market cap, it's the "irrational exuberance" that will signal the top. Shout out Greenspan for those of you old enough to remember that quote.

Mpamaegbu

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Quote from: Marykeller on March 27, 2022, 04:28:05 PM

I love the fact that the altcoin I held in my portfolio is having the potential to do wonders this season. Am positive that it's going to give me thousands of dollars in profits in no short time. Am not in a hurry to withdraw, am just being calm trusting their price movement.

Would you mind telling us about the altcoins? Perhaps they might be of interest for someone here to pick up. We all like what makes us profit.

I've read many early adopters insisting they wouldn't sell off for any reason. I continue to ask if everyone decides to hodl perpetually how would Bitcoin have its value? I know that the value of anything is in its (trade) buying and selling or am I wrong on this?

bitzizzix

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I just treat it as a reserve fund sometimes I sell it when I really need it, and even then very rarely because as long as I can get past it with fiat I don't.
I also don't know when to sell everything because I believe the price will continue to rise, and maybe I will when I want something big and backed up with a big upgrade.

dezoel

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When I have enough money to retire? I mean not even then, because what would I do with all that money all at once? I like my job, I have been quite happy here, and that means I would be able to work until I can't anymore, and that means I would be able to save every month until I stop working from old age or from something else.

This is why I believe that we should not really be considering cashing out. I would prefer if I would just keep going until I die, then my child would inherit the money that I saved up in crypto. I can't say if I will ever have a child, but if I don't then the inheritance would go to a charity that I really trust, and really sure that the money would go to the right place.

acener

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Whenever I invested on a certain crypto for a long term investment I would set up a price when to sell it or a certain date.
I think it is what most of the long term holders are also doing whenever they invest for a long term,
But I would also depend on the situation when the price that I am aiming has been reached if I would sell it or wait a little longer.

Joshapat

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As long as I don't really need money then I will continue to hold, on the other hand if I need cash and there is no other alternative then I will sell even though the market is red, I think long term hold is an easy but very effective strategy to get big profits, and as long as I hold bitcoin, the results are very satisfying because I always profit, maybe the first hold term and make me lose is 2018

virtualdn

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I will never sell all my BTC, some will remain to my kids and grandsons. I've never sold a Satoshi since 2013 so I have no idea when I will cash out, but if I will do it it won't be more than 10-15% then hoping to buy it back, time will tell. BTC is safer than stupid FIAT and banks anyway. Why sell? Sell to buy a house or two, but don't keep it in the banks, that's stupid. Inflation will kill your FIAT.

Hypnosis00

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I don't set any time frame until when I'm going to hold. Perhaps, selling could somewhat be going to commence at no specific time as it always depends on the needs and the market price. And besides, Long-term holding can be in years, several years of holding. There is no clear time when to sell but I think it was not important.

I hold and I keep holding until I have the reason to do the selling. But I'd never tried to think about it, I'd rather think about the future of my kids which these cryptos I hold can help them many years from now.

TheGreatPython

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Quote from: Jawhead999 on March 28, 2022, 05:50:03 AM

I don't understand why you can consider staking stablecoin is better than invest in Bitcoin. Those centralized platform only offer you 8% APY and you're risking your 1 million dollars to them! Don't cry if they turn as scam project. Bitcoin could offer you better than 8% APY and your coins are fully 100% safe if you hold on hardware wallet. Choosing stablecoin is like choosing bad investment and riskier than Bitcoin.

Regarding to your questions, why should I cash out my Bitcoin if I'm not needed yet?

He didn't say free but he said after taxes. Most stablecoins have a connection with fiats and banks therefore it's normal that they can be taxed but there are decentralized stable coins like DAI and they can be exempted from taxes. Stable coins' main use are only to prevent the unstable crypto from fluctuating but investing on them alone without investing first on volatile crypto can be useless.

Do not know if you can stake a stablecoin but if it's possible, the rewards that you will be getting are fixed but if you invest on bitcoin, you can earn unlimited rewards although the disadvantage is you can also lose huge once bitcoin price dumps.

rodskee

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Quote from: sumant on March 29, 2022, 03:46:15 AM

If we talk about long term their is not any date. For me a long term is a money that will cash out when I need that money. For other stocks or shares long term will may be 20 or 30 years but in cryptocurrency long term has been seen in very short time. Overall long term will get depending on investors choice when he going to cash out or pulling another cryptocurrency. Sometimes cash out can be done at 100 or 1000x so it is totally upon investors.

Long term Holding is something that you can keep and the amount that you can also allow to risk and lose, and not a fund that you will look at whenever you badly needed funds because remember that volatility of this market tells us that there is no consistent chances when we can take profit or we can take losses.

If i am to decide? i will never let my guard decide instead i will allot specific time when to withdraw so when that day come? i can easily and heartedly take my funds without hesitation and without any bad feeling .

Retainly_Collie

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The issue depends on each individual's decision, and whether to continue holding or profit is not important, I think. I remember I made a lot of profit after about a year of buying and holding ETH. Indeed, nothing is perfect for me because I also missed the opportunity to sell at the high price of ETH and buy it back. At a lower price, but I'm still satisfied with what I get. I can be satisfied with everything achieved and am looking for more opportunities in the market.

bakasabo

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I guess the right answer will be - when long term holder needs fiat, he will cash out. For me, there is no specific date. For me, cryptocurrency is not my primary source of income. I usually set some goals, like when Bitcoin hit ATH, cash out a little part to celebrate. Or right now I want to replace current laptop with a new one. As replacement is not urgent, I am planning to hold signature rewards until I get about $2k and cash out, while keep on holding crypto from trades.

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Quote from: Leviathan.007 on March 29, 2022, 01:40:27 AM

Usually, the answer is never for a long term investor because as a long term investor people do not trust the fiat currencies to sell all the bitcoins and exchange into fiat, if you look at the chart in long term you will understand by rising the inflation rate the bitcoin investors are safe from the inflation and it's not the end because they also take profit over they asset they invested by having these advantages I don't think if any long term investor is willing to cash out his bitcoin because they truly trust and belave in bitcoin, just in the case of emergency they will exchange some a few shares of it and then buy again.

Like when there is inflation and the price of bitcoin is even higher and there will be a lot of profit. Long-term investors take profits in the long run and sell some when prices start high or there is a price target to be reached.
Some long-term investors also have a target price they need to reach in order to exchange it for Fiat currency, but of course not all of them will be sold.
Being a long-term investor has some challenges, namely when the price keeps going up and up, this will determine how strong the psychology in investing is.

Sell some and take profit. Buy again when the price is very low, it will keep repeating.

sumant

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If we talk about long term their is not any date. For me a long term is a money that will cash out when I need that money. For other stocks or shares long term will may be 20 or 30 years but in cryptocurrency long term has been seen in very short time. Overall long term will get depending on investors choice when he going to cash out or pulling another cryptocurrency. Sometimes cash out can be done at 100 or 1000x so it is totally upon investors.

Topic: Long Term Holders - When Do You Plan To Cash Out? - page 5. (Read 1062 times)