Topic: Long Term Holders - When Do You Plan To Cash Out? - page 8. (Read 1062 times)

As a self-proclaimed "long-term holder", I don't plan to cash out in the accepted sense of the term. My vision is greater than that.

I demand to buy whatever I want, whenever I want in electronic cash. Whenever I use Bitcoin, I admire us; we've proved, once more, that we're more capable of making decisions for ourselves. We can work outside this broken system. We can redefine money and settle transactions without unquestionable authorities.

I don't like the idea of holding bitcoins for a decade, just to return back with more fiat. They say don't put money above principles, 'cause you're gonna lose both, and that's my life motto from now on.

I've come to stay. 

Never. I have some coins that I got for $500 in 2014 and I'm never going to sell, especially not in a situation when it goes to a million dollars. I'd rather use it as a collateral, use it to show my credibility, for proof of ownership. I'd be able to borrow fiat money and invest it knowing that if anything goes wrong I'll be able to cover losses with my BTC. Having a few million USD as backup can work wonders when you know what you're doing.


It's not a lot of money. Maybe if you're a child who dreams of having a car or going abroad to study... For normal investors who own businesses and real estate 200k USD is nothing. Just another piece of land in a portfolio or a speedboat to have some fun in Summer.

Invest in a stable coin when you have bitcoin, the most popular cryptocurrency that everything else in this space relies on? Buy a centralized coin that you have to keep on a centralized platform to make a few bucks when you're holding a deflationary coin that explodes with each halving? I hope you rethink it for your own good.


 

For those people who are long term holders of btc or any crypto, do you have a plan of when you would sell it?  I am talking about the coins you are holding long term and not trading or selling short term etc.  Such that if you have a set amount of btc or crypto where you are holding long term.



Imagine someone with 5 btc which is a lot of money.  That is a lot of money even in first world countries but that isn't even enough to buy a house in many cities in a first world country.  But do people here have plans like okay the moment my btc or crypto is worth x amount of money, then I will cash out some part of it or everything?  



Now if someone has say 1 btc, they surely need btc to be at least mid 6 figures to even think about cashing it out if they want to think about retiring in a first world country?  I know everyone wants more money but if you have a few million dollars, that is more than enough for anyone even in a first world country to retire.  Having a million dollars in the US however doesn't make you rich anymore though from what I read.  But with people talking about price targets, it depends on how many btc you own for btc.  So even if btc went to 500k, well if you only have 0.1 btc, well you are not rich.  But someone with 5 btc is going to be rich.



The other thing is if someone has that much money, wouldn't it make sense for them to sell all their btc and basically invest in stablecoin and just earn passive income from it?  Imagine someone with 5 btc and btc goes to 500k.  That is 2.5 million dollars.  After tax, let say they still have at least 1.5 million.  But assuming they were holding long term, this number probably would be a bit higher?  But let say use 1.5 million dollars after taxes.  If that person takes 1 million dollars and then go buy a stablecoin like usdt and stake it on nexo or blockfi or gemini and earn at least 8%... they would earn 80k-100k a year in passive income in that stablecoin which they could then immediately turn it to fiat and cash to their bank account.  That is more than enough to live on assuming you do not have crazy expenses.  



Now obviously someone could also do staking of stablecoins if they earn a lot of money from stocks or real estate or whatever it maybe.  But wouldn't that be the smart thing to do if someone has that much money?  Putting money in a regular bank account make zero sense since you don't even earn 1 percent from it... more like 0.01 percent.  Also from what I read, with real estate, sure you earn money buying a house and renting it out but you gotta handle repairs and so many other things.  So it seems like putting money into stablecoins is the way to go assuming one has a good amount of money no matter where they earned it from?