Topic: Question to hodlers:How will you spend the money? - page 5. (Read 799 times)

 
Although you said that you are also a holder, I will like to ask you a question: as a holder, do you think it is a good strategy to sell all your bitcoin that you have been patiently holding for a long period of time to invest in a business that you are not 100% sure will succeed?

Take a deep look at it without working, Just being patient By holding bitcoin for a long time, you will make a profit. Didn't that look so easy to do? I know another source of income is good, but what is the essence of selling all your investments? Why not sell 1/4 or half of it to start up the business? If you keep getting higher profits, you will add more to your bitcoin investment, or do you think if you sell all your bitcoin investment, you will have interest in investing again? You might think it will be easy, but if the amount of bitcoin goes up, then you will feel discouraged because it will be like you have started your bitcoin investment from the beginning.
 
So if you truly want a good strategy, you should plan to start up a small business that will not consume more than 1/4 or half of all your investment, and even if the business fails, you will still have a backup.

Why do you think so?
First of all, you don't have to sell to get something else. You can exchange bitcoin directly. I don't have to go to an exchange to get fiat money to then buy a house. I can strike a deal with someone to get his house and transfer my bitcoin to his wallet in exchange for that. There won't be any selling of bitcoin, but a simple transaction.

Why do you assume that I have to sell my bitcoin to create passive income?

Why do you assume that I want passive income in the first place? My bitcoin offers me enough of that.


That's exactly how I feel.

If I had to sell all my Bitcoins just to create a business that generates passive income, I wouldn't do it. Because for me as long as Bitcoin continues to provide good returns for me, I will continue to keep it and also continue to buy it as long as I have the ability to continue buying Bitcoin. Because I think Bitcoin will continue to give me good profits in the long term which makes me have to think long and have to really plan very carefully if I want to create a business, because creating a profitable business takes a long time.
If I use my Bitcoin to create a new business, I have to sell my Bitcoin and have to wait a long time for my capital to return and even then it hasn't made a profit. And that time has squandered any profit I could have made from Bitcoin if I still had Bitcoin, and that profit would have been pure profit and probably a very large amount. So I have to really think about this so that I don't regret it and I also don't need passive income other than my salary from work. Because the income from my job is enough to meet all my needs and also to invest in Bitcoin periodically according to my ability after all my important needs are met, and I prioritize Bitcoin for my future or old age and also believe that in the future Bitcoin will be very expensive .

Why you want to do a business you should do no they cannot business that you want to venture into because sometimes business of real estate management does not favour everybody, because I know very well many people who is into salt business have not prosper very well so if you are doing real estate management you have to be watchful and also understand the business what I know very well that can give you people money is when you invest in cryptocurrency so I know very well that cryptocurrency is something that is more money

Good question. Basically we always plan how we will earn profit from our invested funds, I can guarantee that there are most of us who will get confused to answer what to do with the profit earned from the invested funds.  Because most of us don't plan what to do with the profits.
And to be honest with me it's pretty much the same, I've been confused about it all this time but I'm thinking that since I'm currently thinking of holding bitcoins until around two halvings following the DCA method.  Later, the thought of reinvesting may come to my mind. However, I don't have any thoughts of doing business or anything else with that profit. I don't know what will happen in the future.

I retired in 2019 off my Bitcoin. So how will I spend it...I'll spend it throughout my life on whatever I want. I'm just now, as of last month, gonna start using a tiny bit monthly (at least whenever my bank account is low) to pay for stuff for the rest of my life. And of course I have some of my bitcoin set aside for specific purposes like houses and a few other things. I may or may not use a bit at some point to get into stocks, specifically dividend focused stocks to add a third income source in retirement, though if I do that I'll wait a decade or so until Bitcoin is at least above half a million dollars.

But Bitcoin is humanity's hard money, so there doesn't have to be a time when you sell the bitcoin to put into something else. Certainly people can, especially if they don't have already have any investments that generate income. Any smart life-long financial plan should include both Bitcoin and various investments that generate income. But the endgame isn't to sell bitcoin to put into other stuff, the endgame is to keep saving in humanity's best money, while also having other sources of money, specifically income generators since that is the one thing Bitcoin doesn't give you.

To be honest I do not have accumulated a lot just yet or at least not enough for any of my plans to happen just yet.

There are two specific things I have in my mind: real estate and business. I want to build a house it has always been a dream of mine and if I earn enough profit it will surely be one of the first things I would be doing. With business, I actually just mean that I want to be able to make more of what I earned. I can not be satisfied with the money that I have I know I should think of more ways to double my profit.

In my opinion, there is no point in selling your Bitcoins until Bitcoin finally becomes the world's reserve currency and an integral part of central banks' gold and foreign exchange reserves.  Moreover, when this event occurs, there will be no need to sell Bitcoin for fiat money.  Its cost will be so high that the hodlers will not sell it, but will only pawn it.  Bitcoin is the most valuable asset a person can own.  Real estate may seem like a very attractive investment, but in reality it has large associated costs and can easily be confiscated or destroyed as a result of military action.  Fiat money is currently undergoing a period of transformation.  There is a transition from traditional paper money to CBDC (new programmable digital concentration camp money).  Which is better: CBDC or Bitcoin?  The answer is obvious!

It's a good idea to use your Bitcoin holdings' profit to diversify your investments even more among another niches of the market. You have mentioned some very good examples, like real estate, commercial businesses, purchasing pieces of land and renting it for passive income. There are many areas you can invest and make new sources of income from. You just have to be careful to invest in the kinds of areas which are more profitable inside the local reality you live, that is, areas which have high demand from the public around you.

For an example: you won't invest in commercial businesses where local residents don't have financial power to consume your services or products, however this concept of business is a very good idea where the population has better financial conditions to spend more often in a daily basis.

Therefore, someone's idea of investment might not be the most accurate one for you, because your realities can be immensely different between each other. For that reason, you are the one who has to develop the best ideas on how to spend your money for further gains.

You can take profit all your bitcoin or part of your bitcoin and continue to hold the rest.

It makes sense to take profit and get money to use, nothing wrong but if you take profit or sell all your bitcoin to invest in some other things like real estate, I don't support it.

It's not good idea for your portfolio because real estates can be built up more but there will be no more than 21 million bitcoins.

ROI chart of Bitcoin and other assets show Bitcoin has best ROI.
https://casebitcoin.com/charts#roi_chart

Withdrawal strategy https://bitcoindata.science/withdrawal-strategy

Bitcoin is actually the end game of my investment, I won't convert it to real estate, land or business.

Renting real estate or land? I can earn more just by investing in Bitcoin.
Business? I don't have time to manage it.

Not to mention I would face unnecessary dramas e.g. they claimed to own my land, I could be scammed, the lessee don't want to pay the rent, cost to maintenance the real estate etc.

I only sell my coins to accumulate more coins.

Hello,friends
The question is addressed to hodlers who have been hodling bitcoin for years
Sooner or later there will come a moment when we will sell the bitcoins we hodl and have to invest this money in something else to create passive income
It can be real estate,any business,buying land and renting it out or something else
Very few people will sell bitcoins just to spend this money in a few months,at least i don't know such people
Everyone here is a smart person and everyone here has thought about where to spend this money
That's my question

P.s. I'm a holder myself,i'm thinking about strategies and i'm interested in the opinion of other hodlers to put these ideas in my head and think about them

-Regards