Sold my first Bitcoin and am happy - page 11.

Smartvirus

legendary

Activity: 1554

Merit: 1139

Quote from: tinopener on March 15, 2021, 04:48:27 PM

Just sold 5% of my Bitcoin that I've been holding for 3 years and I feel satisfied doing so.

I didn't need to sell, and it was mainly for the satisfaction of getting back some of my original investment.

That's one way to go about it and I'm impressed. I was beginning to wonder if you made a mistake by barely trying to test what it felt like to make a sale but far from it. Its simply getting the satisfaction of having your capital withdrawn and working only with the interest which is good.

I'm sure you got the satisfaction you deserve and thats really good. 3 years is a long time and 5% doesn't seem like a lot compared to what you've got stalked.
Its really awesome to know how much profit you must have made following the way bitcoin has been doing from the bullrun and of late. Kudos on investment, rely encouraging on your part.

Ozero

full member

Activity: 2142

Merit: 183

Quote from: Upgrade00 on March 15, 2021, 08:39:42 PM

"You just sold your precious bitcoins cheap to institutional investors, Shame" Grin

In truth, taking profits after a while (to at least recover your capital invested is a healthy move and puts you more at ease with the remainder of your stash. I sell bitcoins from time to time as the need arises an maybe sometimes for personal gratification as well.

About the "Hodl at all cost" mindset; no technology or venture should be trusted without reservations, always consider the pros and cons of holding and act accordingly. The important point is your still invested in it and plan on buying more if a lower price presents itself.

If bitcoins were bought three years ago, now is the time to partially sell them and fix your profit. We see that the price of bitcoin is moving cyclically and so far, in general, in the direction of increasing. In any case, it is still profitable to partially sell them at such a high price and wait for the next fall in prices in order to buy at a low price.
If you just hold on to bitcoins, you can remain a witness to the rise and fall of its price, which ultimately does not guarantee a profit.

tinopener

member

Activity: 224

Merit: 36

Quote from: TedMosby on March 16, 2021, 12:04:49 PM

do you have any calculation on that 5%? why did you sell 5% from your holding?
if I am not mistaken there's a "4% rule", I wonder if you did something like that.

I just rounded up to the nearest thousand pound sterling. It might not be too accurate, so take with a pinch of salt.

I think that 4% rule is generally about the natural dividend yield of stocks, which I have chosen to disregard.

My overall plan for retirement is to keep 2-3 years worth of cash, and skim profit off shares and cryptocurrency.

But that plan might only work in a high money printing, low interest rate, equity growth environment.

If I think the 4% rule works in the future, then yes, I will also move towards that.

Swopon

copper member

Activity: 700

Merit: 120

Gamdom

I haven't any BTC so can't say this expression. But I feel that it is a feeling that depends on your returns which you get from the investment. Maximum of bitcoiners get a good profit from their first trading. Sometimes there occurred unexpected situations. The cryptocurrency world is highly volatile so there is no guarantee to get the same results for everyone.

pawanjain

hero member

Activity: 2702

Merit: 716

Nothing lasts forever

Quote from: tinopener on March 15, 2021, 04:48:27 PM

Just sold 5% of my Bitcoin that I've been holding for 3 years and I feel satisfied doing so.

I didn't need to sell, and it was mainly for the satisfaction of getting back some of my original investment.

However, I also feel like its broken the "HODL AT ALL COSTS" mindset which I felt was getting a bit unhealthy.

I do feel there are risks with Bitcoin, and I won't drag people down with that here, but I will be diversifying that money into gold and shares, mainly tech shares.

If Bitcoin dips a lot, I will also buy some more Bitcoin though.

Basically, I'm glad I sold some if only to stop feeling like a slave to it (and to test the Coinbase selling functionality which only took seconds for the transaction).

I know exactly how you feel because I sold some in December as well. The price at that time was around $28000.
Today it's $56000 and I am not sad at all. It's double the amount but I still feel happy because I'm in here for the long term.
Holding is good but not selling when you are in need of it is definitely not a good thing.
We bought bitcoin so that we can reap it's benefits but if we don't utilize it in need then what's the point of holding it ?

TedMosby

sr. member

Activity: 1120

Merit: 438

https://bitcointalk.org/index.php?topic=5274318.0

Quote from: tinopener on March 15, 2021, 04:59:04 PM

-snip-

I bought around $8k in 2018 on average I think.

If I'm honest, I also have shares that have gone up almost much as Bitcoin, mainly in technology and biotechnology.

I am pretty well diversified anyway.

good for you, it's more than +600% of the profit.
it must be tough to hold it for 3 years during the bearish.
do you have any calculation on that 5%? why did you sell 5% from your holding?
if I am not mistaken there's a "4% rule", I wonder if you did something like that.
https://www.schwab.com/resource-center/insights/content/beyond-4-rule-how-much-can-you-safely-spend-retirement

Yatsan

legendary

Activity: 2576

Merit: 1252

Leading Crypto Sports Betting & Casino Platform

The same feeling is what I have been through the first time I have sold my Bitcoin way back the first years of my engagement here in crypto industry. The feeling of happiness brought by satisfaction is really priceless to think that after holding for a long time is thar you can already be able to sell some and keep on holding the remaining portion just to provide for your needs. Although it is not that necessary to sell for me, but still I have decided to do it just to feel how does it take to make those earnings in real cash because I cannot directly do transaction with Bitcoin for purchasing here in my country. Just maintain the balance on holding and selling your Bitcoin and other crypto for you will be the one who will benefit on it at the end.

tinopener

member

Activity: 224

Merit: 36

Quote from: Trinx01 on March 16, 2021, 09:55:42 AM

Congratulations on that, I feel glad to hear things about this. Those people who chose to hold for a long time and now they are having good profit, that is what we can have if we trust and believe in bitcoin, as of now the value of bitcoin is high and that would be too risky if we buy bitcoin these days, the prices of bitcoin can still go down and that would be the best time to buy bitcoin.

You said it. I think we have to stop pretending that Bitcoin is a tree that grows up to the sky.

In my very humble opinion, I think there will be two central things governing the price from now on:

Bitcoin Market Cap vs Gold Market Cap

I think gold has a market cap of about $10tn, and gold has many upcoming electronics uses. I think the Wall Streets Bets crowd are now switched on to commodities and stocks as much as they are to crypto too.

Bitcoin Carbon Footprint

For Bitcoin to get close to a million dollar valuation, it will take an unpractical amount of electricity https://www.bbc.co.uk/news/science-environment-56215787

OK. I've said two things (amongst many, obviously), and most optimists will think of them in isolation, but the effects of both will add up into downward Bitcoin price pressure in the medium term.

Trinx01

member

Activity: 297

Merit: 40

Congratulations on that, I feel glad to hear things about this. Those people who chose to hold for a long time and now they are having good profit, that is what we can have if we trust and believe in bitcoin, as of now the value of bitcoin is high and that would be too risky if we buy bitcoin these days, the prices of bitcoin can still go down and that would be the best time to buy bitcoin.

Noctis Connor

hero member

Activity: 1008

Merit: 540

Quote from: tinopener on March 15, 2021, 04:48:27 PM

Just sold 5% of my Bitcoin that I've been holding for 3 years and I feel satisfied doing so.

I didn't need to sell, and it was mainly for the satisfaction of getting back some of my original investment.

However, I also feel like its broken the "HODL AT ALL COSTS" mindset which I felt was getting a bit unhealthy.

I do feel there are risks with Bitcoin, and I won't drag people down with that here, but I will be diversifying that money into gold and shares, mainly tech shares.

If Bitcoin dips a lot, I will also buy some more Bitcoin though.

Basically, I'm glad I sold some if only to stop feeling like a slave to it (and to test the Coinbase selling functionality which only took seconds for the transaction).

This is really tough decision to hold that bitcoins with your eagerness to sold them already when the price is quite really high in the first place if im this i can't hold that much longer when i see the price is decrease i will panic on selling them and wait for the price decrease into the maximum and when the graph shows that bitcoin is increasing again that's the time im going to buy just to make a good profit while the market is really unstable well it's really unpredicted however i just follow what my guts say's.

Tap_Global

copper member

Activity: 104

Merit: 0

Quote from: tinopener on March 16, 2021, 09:10:26 AM

Quote from: Tap_Global on March 16, 2021, 07:34:19 AM

Well done! Sometimes its good to take some profits. Are you involved in any altcoin projects?

I've got Ethereum and Litecoin, plus lot's of little bits of the new defi stuff like Uniswap, Aave, Balancer etc. If I read a couple of positive things about them in the media, I just buy a couple of hundred dollars worth of them for the speculation. I'm starting to understand them a bit better now, but nothing like a bit of skin in the game to keep you interested.

I'm thinking about buying more Ethereum though, as I think Bitcoin will take a big hit this year with the climate change conference. Ethereum is moving to the less energy intensive Proof of Stake system, so I predict inflows.

Although I think Bitcoin will take a hit because of electricity and carbon footprint, I am convinced that Elon Musk and other Bitcoin proponents will find a way to make Bitcoin carbon neutral, and not only that, make Bitcoin positive for the environment within the next 10 years.

That's great bud, always good to keep your eyes open for new projects.

Very interesting what you said about Bitcoin - this might actually happen but like you said Im sure Elon Musk etc. will find a way to resolve it.

Quick question - what are your thoughts on our $XTP token?

Ewox

sr. member

Activity: 812

Merit: 253

Same here, I sold mine yesterday too. But I promised myself to sell them when I need them, and I need then currently for venturing my business to a much wider range and also for new opportunities. And also bought some alternate coins out of what’s left of the Bitcoin I sold. The feeling of not being withheld just because you said so yourself you will be hodling for life, made me feel free too.

tinopener

member

Activity: 224

Merit: 36

Quote from: wxxyrqa on March 16, 2021, 09:20:29 AM

This is very good advice, because the cryptocurrency market is in a bullish trend and thanks to constant corrections, it is possible to replenish your budget due to the price difference. Of course, you need to spend some time on this, but I believe that it is enough to monitor the bitcoin rate in order to sell and buy at a cheaper price on time.

Yes, I plan on using 50% of profit to buy dips from now on.

How many buy/sells do you do per year, if you don't mind me asking?

wxxyrqa

full member

Activity: 1372

Merit: 133

Quote from: ethereumhunter on March 16, 2021, 06:53:53 AM

You made a good decision to sell your bitcoin at the price you want, so enjoy your money.

While the price will fluctuate, you can try to place an order buy at a low price because bitcoin price will be down and sometimes, the downtrend can make us happy because we can buy bitcoin at the lowest price than before. Right now, you need to watch and analyze the market so you can find that time to buy bitcoin so that you can get more bitcoin later.

This is very good advice, because the cryptocurrency market is in a bullish trend and thanks to constant corrections, it is possible to replenish your budget due to the price difference. Of course, you need to spend some time on this, but I believe that it is enough to monitor the bitcoin rate in order to sell and buy at a cheaper price on time.

Casdinyard

hero member

Activity: 2184

Merit: 891

Leading Crypto Sports Betting and Casino Platform

Just seeing how huge the difference is, in its market value way back 3 years ago, will surely satisfy any investor with regards to the profit. It is surely hard to hold for that long given how many downfalls we have seen over the past years and it is only this year wherein the market value doubled and even tripple its ATH before. It is not as easy as it may sound to just hold and I do think those people who managed to do so are really something.

Quote from: Expecto on March 16, 2021, 04:31:46 AM

Quote from: tinopener on March 15, 2021, 04:48:27 PM

Just sold 5% of my Bitcoin that I've been holding for 3 years and I feel satisfied doing so.

I didn't need to sell, and it was mainly for the satisfaction of getting back some of my original investment.

However, I also feel like its broken the "HODL AT ALL COSTS" mindset which I felt was getting a bit unhealthy.

I do feel there are risks with Bitcoin, and I won't drag people down with that here, but I will be diversifying that money into gold and shares, mainly tech shares.

If Bitcoin dips a lot, I will also buy some more Bitcoin though.

Basically, I'm glad I sold some if only to stop feeling like a slave to it (and to test the Coinbase selling functionality which only took seconds for the transaction).

It looks like you were really patient that you HODLed for 3 years. Grin

We don't see so many people have the courage not to do a panic-sell and wait patiently for making a profit that is worth selling. Of course you didn't sell all of it but it really feels good when you make a nice profit and want to celebrate it by selling a little amount of it. Grin

Holding all of it is like carrying a boulder over a mountain. And it I'll be awesome to know if he really managed to not sell even a small amount over the years. I myself failed to o so because of the pressure this market gave me when the market price fell for more than a year.

tinopener

member

Activity: 224

Merit: 36

Quote from: Tap_Global on March 16, 2021, 07:34:19 AM

Well done! Sometimes its good to take some profits. Are you involved in any altcoin projects?

I've got Ethereum and Litecoin, plus lot's of little bits of the new defi stuff like Uniswap, Aave, Balancer etc. If I read a couple of positive things about them in the media, I just buy a couple of hundred dollars worth of them for the speculation. I'm starting to understand them a bit better now, but nothing like a bit of skin in the game to keep you interested.

I'm thinking about buying more Ethereum though, as I think Bitcoin will take a big hit this year with the climate change conference. Ethereum is moving to the less energy intensive Proof of Stake system, so I predict inflows.

Although I think Bitcoin will take a hit because of electricity and carbon footprint, I am convinced that Elon Musk and other Bitcoin proponents will find a way to make Bitcoin carbon neutral, and not only that, make Bitcoin positive for the environment within the next 10 years.

bitzizzix

sr. member

Activity: 2366

Merit: 448

Enjoy 500% bonus + 70 FS

Everyone has the right to do anything with their bitcoins and sometimes we also have to do things outside our plan with our bitcoins for reasons of satisfaction, need, panic and so on.
I think holding bitcoin for a long time is not easy because it will get past the feeling of wanting to sell when the price goes up and up and there will be a fear of the price going down again and that is a very tough test.
The OP's decision was great and whatever the plan, I don't care because it's your right, and you were very good at holding bitcoins for 3 years and this is the perfect time if you want to sell everything and buy back when it goes down.

Tap_Global

copper member

Activity: 104

Merit: 0

Well done! Sometimes its good to take some profits. Are you involved in any altcoin projects?

Bilgent

member

Activity: 518

Merit: 13

It is nice to hear about some people that they choose to HODL and reap the benefit of it. I also do the same sometimes for rewarding myself. It is also very important to observe the price and be careful for not losing your investment by selling it at the right time.

galestorm

sr. member

Activity: 448

Merit: 251

Futurov

I would probably do the same If I had a lot of bitcoin holdings but I dont. I already sold mine 2 years ago, and I wish I didnt since the price of bitcoin back then was just 4k dollars. HODL has it's pros and cons and an investor should know his/her limits. Well all know that the price of bitcoin flactuates. Waiting for the price to spike and sell it is a good strategy to earn more than what you've invested, but let's be honest, it would take too long, even years if you want bitcoin to reach the price beyond your expectations and in those long years you'll witness bitcoin dips, which isnt a pretty sight. If you think that you have enough, and received more than you have bought, you can sell your bitcoins. You'll never know when you will need the money.

Topic: Sold my first Bitcoin and am happy - page 11. (Read 2546 times)