Sold my first Bitcoin and am happy - page 12.

tinopener

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Quote from: bakasabo on March 16, 2021, 07:39:43 AM

Have you bought yourself a present for being holders club for 3 years?

Yes indeed. I've just treated myself to some more shares in Scottish Mortgage Investment Trust (SMT).

Yep, I can seem like a bit of a crazy guy sometimes, but I sure know how to have fun Grin

ethereumhunter

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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.

kotajikikox

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Quote from: tinopener on March 15, 2021, 05:48:27 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 can relate to this feeling back in 2018 mate when i first sold all of my coins Gathered from my Signature campaigns and some Bounties.

And it feels Good even though i am disappointed that time because the market starts to bleed from the Hype of December 2017.

Quote from: bakasabo on March 16, 2021, 07:39:43 AM

Have you bought yourself a present for being holders club for 3 years? If you havent dont it yet, I suggest to do it to strengthen the joy of receiving first benefits and to kill FOMO hunger. Or, since you have successfully tested in-and-out scenario, you could deposit these 5% back and continue holding. Buy I really suggest or even insist on buying something that will be memorable to you.

Sure he will Buy Himself something that will remind Him of this experience , treat Himself for future remembering .

bakasabo

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Have you bought yourself a present for being holders club for 3 years? If you havent dont it yet, I suggest to do it to strengthen the joy of receiving first benefits and to kill FOMO hunger. Or, since you have successfully tested in-and-out scenario, you could deposit these 5% back and continue holding. Buy I really suggest or even insist on buying something that will be memorable to you.

jjdub7

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Quote from: tinopener on March 15, 2021, 05:48:27 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 think you have a very good investment strategy. And yes, when we have invested in such assets that require a long period of time, years and not months, this wait can drive us crazy. That's why it's best to just "forget" about the coins in our wallets and not look at the market every day and wait something to happen.

rodskee

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So you only did this for experience and for satisfaction ? while many are selling because they are in panicking or they are greed enough not to let scape the chance of small profits,
I salute people like you who already Know how to value the coins even if they are not.

You know the chances of continues increase while others don't believe.

But the main thing here is you have the capacity of letting it stay on your holdings when many of us use the funds to have foods on their table and it is sad but reality.

Expecto

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Quote from: tinopener on March 15, 2021, 05:48:27 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

tinopener

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Quote from: davis196 on March 16, 2021, 02:09:33 AM

There are risks involved in investing in general.Tech stocks aren't a safe heaven.
Gold prices might go down,after the pandemic/recession ends.
Anyway,good for you.I won't be selling my BTC,even if the price crashes back to 20K USD.
I sold plenty of BTC last year,when the price was 7K-13K USD,so I regret selling BTC. Angry

I never believed that Bitcoin will reach 60K USD,so I guess I'll stay poor forever. Grin

Bear in mind that the reason I sold is to rebalance my portfolio.

I'm selling some bitcoin because it's high, and buying some gold because it's low and tech stocks because there has been a correction recently so they are off their peak.

This is all about hedging for the long term, 10+ years.

LogitechMouse

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Quote from: tinopener on March 15, 2021, 05:48:27 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.

Whether you are a trader or an investor, there is a time that you will take some of your profits for some reason and in your case you took profit because of satisfaction and its a good thing.
On my part, I will sell all of my holdings when either it reached the target I previously set or I'm seeing that the market is slowly going down already (this needs a bit of TA though).

Quote from: tinopener on March 15, 2021, 05:48:27 PM

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.

I know that Hodling is a good thing in order for you to maximize your profit but on the other side, there are some cons into it.
Remember those people who bought Bitcoin at the peak of 2017. It took them 3 years just to be breakeven. If they just cut their losses instead of just hodling it, they might made more money that they did right now. For me, hodling is good but as an investors always put a selling price and not hodl ALL of your holdings. Take some profit at least but don't sell it all. Save some and that is the one that you need to Hodl.

Quote from: tinopener on March 15, 2021, 05:48:27 PM

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

We are waiting for that moment too, the time where Bitcoin will dip so that more people can buy it lower.

bitcoin-shark

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I, on the other hand, did not sell my bitcoin reserves but i put them at interest, in staking but not because i want to do a long term hold strategy but i like to have as much as possible, then in the end at least for me the price is relative will be there always ups and downs on the market

Lorence.xD

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Quote from: bitcoin-shark on March 16, 2021, 04:48:37 AM

I, on the other hand, did not sell my bitcoin reserves but i put them at interest, in staking but not because i want to do a long term hold strategy but i like to have as much as possible, then in the end at least for me the price is relative will be there always ups and downs on the market

It is a much better way of earning more bitcoin instead of just letting it stay there and get stagnant. I plan to do some staking but I don't have the enough bitcoin to do it to make as much interest as possible. I did plan to trade but I don't think my lazy ass is going to want to watch the market all the time so passive investing is going to be my pick. Congratulations to OP for hodling that long, I don't think that I can do it myself but hey you did it and you got your initial capital by just selling 5% of what you have.

Shasha80

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You are a patient person who can hold for 3 years, that's something that must be appreciated. Moreover, 3 years ago the price of Bitcoin was
very low, meaning that now your profit is very large, I wonder how much Bitcoin you HODL. In my opinion if you already profit from Bitcoin that
you HODL, there's nothing wrong with selling your Bitcoin for take profit, there's no need to feel guilty or unhealthy. Even though you don't actually
need the money. But like you said, selling 5% of the amount of Bitcoin you HODL is to give yourself satisfaction, because it's been holding Bitcoin
for 3 years. Sometimes this has to be done to release the stress we have.

slaman29

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First of all, congratulations. 3 years may not be a lot but in the view of Bitcoin for whom most of us here have only been around it for 4/5 years, it's a long time. I assume you're also holding much more than me (since if I sell 5% it's nothing lol) but don't feel that selling what you need is unhealthy. Even Vitalik says he sold 50% to pay his bills!

mezzaluna

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Quote from: tinopener on March 15, 2021, 05:48:27 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).

That is a really brave move and I commend you for doing that. When it was 2018, people are already seeing a sharp peak on Bitcoin's chart and they are saying that it will not reach another greater value than that but the Cryptocurrency Industry proved that wrong. People were vigilant on getting into Cryptocurrencies at that time and now they want a piece of it because of its surging values and garnered attention. Its still a great move for you because waiting for a value to come up is one of the most nerve wracking situations a person can experience.

adzino

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Quote from: tinopener on March 15, 2021, 05:48:27 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).

Great! At least you are feeling good about this. All I have seen is that people saying that they "regret" selling their coins once they see the price skyrocketing again. Even they didn't make any loss selling, they say they feel bad because they could have it for more profit.
You did the right thing not following the chant "HODL at all costs". You are right. This is somewhat unhealthy and creates a lot of stress and makes people anxious. You don't have to keep holding. Sell if you have to. Sometimes it is better to let go than to keep holding.

Kong Hey Pakboy

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Quote from: anotherdayyyy on March 16, 2021, 02:40:40 AM

what you did is really inspring me to and I admire you for that!
I have some bitcoin and HODL is my way, it feels boring. for many times, I wana sell my coin but stopped coz people around me suggest that I keep it...

Chill down on your praises, OP didn't sell everything, OP just sold some bitcoin to breakeven which is not that inspiring as many can do that with what they are hodling. What I am amazed is that OP has been hodling bitcoin for 3 years without selling a portion of it, and that I commend. You might want to hodl that bitcoin even if it is boring, wait for the right time to sell and currently I think is not the right time because bitcoin can still go to a higher point and there is still a lot of months to go and many things can happen in that timespan.

isaac_clarke22

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Quote from: tinopener on March 15, 2021, 05:48:27 PM

~

Well it could have been a better reason, but I am glad you were still satisfied with what you have sold and earned.
"HODL at all costs" is a bit harder to do than said because anytime you might need some cash to use in your life and depending on how much you have right now, you might sell a lot or a bit.
You still mentioned that you sold 5% out of your all hodlings.
That's fine as long you don't go all out.

anotherdayyyy

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what you did is really inspring me to and I admire you for that!
I have some bitcoin and HODL is my way, it feels boring. for many times, I wana sell my coin but stopped coz people around me suggest that I keep it...
since we have got some profit, why can't we sell??? experience matters more significantly than making money, isn't it Grin

clippers

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Congratulations, I am very happy whenever I see someone making money from investing in Bitcoin. More and more people have invested in BTC and made money. This can strengthen the blockchain consensus around the world. I am happy from the bottom of my heart.

Murtaza345

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I have sold my 10% of Bitcoin which I have been holding for two years,more I will hold for long term like 2'3 year because I know the future value of Bitcoin and I m so happy after selling my Bitcoin 10% portfolio because I earned good profit.and now I suggest to all that you hold your Bitcoin and don't sale because after selling you will regret very much, because it's confirmed news that Bitcoin will be above $100000 very soon like at the end of 2021 and may be before.so its my suggestion if you have Bitcoin hold for long term ,and if you don't have Bitcoin ,so buy Bitcoin.

Topic: Sold my first Bitcoin and am happy - page 12. (Read 2537 times)