Topic: Question About Early Adapters Who Hold Coins (Read 2506 times)

Bitter late adopters keep bringing up the same idea that early adopters were somehow rewarded disproportionately. Bitcoin is a critical idea and every early adopter that has lead it to being as widespread as it is today deserves every cent and every penny that he made. You may not believe this but there was a lot of doubt in whether Bitcoin would become successful or not, if you doubt me you are more than welcome to adopt one of the altcoins.

BTW even Satoshi said that ten years down the road, Bitcoin would either be dead or widely spread. So even the original writer never expected it to blow up like this.

Well yes, but probably only buying partial coins by that stage. I doubt I'd be queuing up to buy a full one!

I planned from the start to cash out about 1/2 of my holdings if we got to 100x my initial outlay.  We did and I am.  And slowly, but that's honestly not so much in an effort to be 'responsible', but more because I want to maximize my take in case the price goes up in the near future.

My calculus is that if things crash and burn I'll walk away with something in my pocket (and a fair bit.)  If the price continues to go up, I'll capitalize on that to.  I do like win/win situations, but as often as not one needs to engineer them rather than have them fall into one's lap.

Even though it is not the primary driver in my sales plans I will say that I see some pretty significant risks both to the value of Bitcoin, and to the way I value it as a positive tool for society (which are not necessarily the same thing.)  In a word, it is 'coin blacklisting'.  I think that it could be done effectively even in a completely external manner (which is what Mellon's company seems to be attempting) and all it would take to be successful would be for the dev team to stand by and do nothing to thwart it.  As it happens, it looks like the Bitcoin Foundation and several of the key developers are, if anything, more prone to actively work toward making coin blacklisting successful than to work against it.

Now the success of coin blacklisting (loss of fungibility) will not kill Bitcoin in terms of valuations and thus as a way for me to get rich...in part because my coins are clean and I don't care that much if I am identified since I intend to carefully pay my taxes.  At least it will not kill Bitcoin immediately.  It will, however, kill completely my interest in the solution as something positive and/or unique.

People like you make me very happy to be holding my 1 coin very tightly.  I'm glad you'll buy at any price so that I can sell and retire one day

Hopefully we'll be able to do that in the future.

Ever considered walking away from fiat money?  Why leave them on the table while they are also some kind of gambling?

Yeah, I bought some for $0.82 (not enough) and also some for $1020.

Even if the price gets to $1,000,000+ I'd still be a buyer of coins, if I have spare government money coming in.

This post has the correct viewpoint, IMHO. ^^^^

I just buy back some of the coins I sold earlier. I still think they're cheap, but I can't really increase the size of my stack much without winning the lottery or something. it's really weird to have a high(ish) net worth and a negative cash flow, but I'll get a second job before I burn through my stash.

i bought my first bitcoin @ 2.37 usd and the majority of my hoard @ 4.14 usd but i still buy btc pretty regularly from miners. sometimes i buy it bc i'm selling some to ppl locally and don't wanna dip into my own stash and sometimes i buy it to trade for alt currencies. 

The same thing most people do when their stocks sky rocket.

Yeah that's always going to be the case.  I call it the 'gamblers mentality' , that person who is up at the poker tables but can't walk away because "what if" he doubles or triples up.

Everyone has their own limits for walking away or staying invested and thats perfectly fine and reasonable.  Selling half and holding half is certainly a logical approach.

For me personally, my walking away point on most things in life (weither it be stocks,  bitcoin, work , etc etc)  is retirement. I don't need to be rich but if I could retire and live a normal life without needing a full time job to pay the bills,  I'd consider myself lucky and walk away.

I'd say what people do varies drastically from person to person. Some buy and hold, some buy and trade, some buy and spend - it really does vary quite a lot.

I'm not an early adopter altho I did acquire my biggest chunk significally lower than todays price, first @140 after Silk Road crash (damn you bitstamp verification), I've continued to buy at 250, 400, 750 and 850. I'll keep buying for 15-20% of monthly income while I can- I'm certain that I'll be glad I did once the block reward halves.

+1 on this. I would cash out half, and invest a portion into something more stable, and keep the rest in btc

I made my initial investment and have stuck to that. I try to increase my BTC stake by trading on BTC-E, and like most people I have missed out on some great wins. The sort where you are about to click buy, but instead end up navigating away from the page, or go to sleep only to come back to a much higher price.

Such is life, I'm still at some profit, but obviously I would be much happier if I could use some of my experience to avoid past mistakes.

I'd maybe cash out half and hodl the rest. I'd probably still be dissapoint if the value doubled or skyrocketed after I sold them.

i bought bitcoins during the crash in 2013. i bought em for 60-70 a piece, you can check my registration date that i became into bitcoin around march/april of that time.

to answer your question, yes i am still buying. I bought in december at 600-700 and again this month january for 800

This is really a question that can only be answered on an individual level since everyone is different and everyone does things differently.

Me personally, if I had enough btc right now to retire on it , i would cash out now even though I think the value will still go up.  I'd be thankful to the "luck" I had and enjoy the new amount of free time I have .   Out of respect for bitcoin and the community though I would try my best to cash out in a way that doesn't hurt the market, ie cash out in intervals.

Yeah, everyone is different. I bought my coins at £70, but don't really want to invest any more money in them, but I'm trying to earn them in other ways like selling stuff for Bitcoin and earning them for doing various other things.