Sold my first Bitcoin and am happy - page 2.

Wong Gendheng

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Quote from: swiftbits on August 24, 2021, 10:45:04 AM

That's exciting, collecting the fruit of your investments. It's probably felt good not worrying about keeping funds for 3-year long. In other cases, selling bitcoin could provide relief as it releases the anxiety from the unknown price movement. Not everyone can afford to hold and buy coins without feeling doubtful about what might happen in the future.

If I hold bitcoin for 3 years then I will sell at least 40%, it's fun if we hold 3 years and we get big profit, if he buys bitcoin at a price of $8000 then he has earned 600% profit, this is a big profit so it will not be obtained if we invest elsewhere.

Sithara007

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Quote from: ChiBitCTy on August 24, 2021, 04:05:06 PM

In my opinion this is a pretty stupid "mindset". Bitcoin was created by Satoshi to be used as a CURRENCY. Sure people stack currencies in order to appreciate/stack wealth, but people also use currency as a means of payment. In my personal opinion it is important to use bitcoin as a currency to help it's adoption in to mainstream, world wide success. Anywho..I don't know about you, but for me, life isn't free and bills have to be paid..so selling some at times isn't that big of a deal.

Wrong.

Have you read the original whitepaper? No where in the document, Satoshi says that Bitcoin should be exclusively used as a currency or as a mode of payment. Satoshi designed Bitcoin to fight the current economic system, which is dominated by the central banks. If you want to change the system, then you need to consider all the sectors. Focusing only on the payment method is not going to resolve the issue. I could understand your concern, if the usage of Bitcoin for payments is getting affected. But that is not the case and therefore I don't think that there is any significance in what you have said.

ChiBitCTy

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

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

In my opinion this is a pretty stupid "mindset". Bitcoin was created by Satoshi to be used as a CURRENCY. Sure people stack currencies in order to appreciate/stack wealth, but people also use currency as a means of payment. In my personal opinion it is important to use bitcoin as a currency to help it's adoption in to mainstream, world wide success. Anywho..I don't know about you, but for me, life isn't free and bills have to be paid..so selling some at times isn't that big of a deal.

swiftbits

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Activity: 938

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That's exciting, collecting the fruit of your investments. It's probably felt good not worrying about keeping funds for 3-year long. In other cases, selling bitcoin could provide relief as it releases the anxiety from the unknown price movement. Not everyone can afford to hold and buy coins without feeling doubtful about what might happen in the future.

marilynmanson21

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Activity: 1260

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Self-satisfaction is needed in every life. Having sold your assets with satisfaction is a natural thing in my opinion and can be considered a relaxation on the mindset of all of us,
salute to you 3 years holding until you reach new aTH at 60k$ and you sell only 5% amazing
and maybe you are a person who doesn't need money, personally, when BTC was priced at 60k$, I sold my btc and I bought the btc again yesterday when the btc price was 35k$

bryant.coleman

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5% is not a huge amount, and I hope you got something in your pocket after the tax cut. I am someone who purchased BTC for the first time when the prices were really low (back in 2012). The current exchange rates represent 5,000 times increase from my original price of purchase. I have around 30% of my original stash remaining. The rest, I sold during 2013-2021. And I don't regret about selling them. In times of need, I thought that it was better to sell the coins, rather than taking a loan.

gwdf1

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It is good when you can sell your assets for good prices, moreover Bitcoin is just a speculative asset. It means that we can earn only on the change of value, as there are no dividends, so it is ok to sell it, but it is better not to sell off all of your Bitcoin, as you can regret, when you notice that the price is higher than your selling price. Personally I am going to hold Bitcoin for at least 5 or 10 years until a new big bull run.

dimonstration

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Dimon69

Quote from: sirminesalot on August 23, 2021, 11:17:45 AM

That's crazy investors mentality you have there, most of the new bitcoin investors are always happy with their first 10% growth in a day or so and directly sell it and show it to their friends.
3 years holding and first time selling means you already have that base mentality for an crypto investors and it's you're really have the potential to become a crypto millionaire in the future if you choose a right coin to invest.

Those who are able to hold too long is a pro. Its quite hard to hold on into coins that we see orogress or see that were already in winning. If we are to discipline in every incestment we have and stick to our plan of selling and buying at a certain amount it will be a smooth trading experiences. The thing we need in crypto is the discipline whenever the prices changes way too different from where we started.

7788bitcoin

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Quote from: Pamadar on July 29, 2021, 12:00:32 PM

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If you do trust the system and you believe that this venue of investment will continue to progress, placing your target after buying your coin will let you to relax and not to panic if you see some major downfall, it will save you not to rush things out and made a regretful decision. Remember that bounce always comes up after any massive dumped that take place.

Even if i come up with a business i would start accepting Bitcoin when the market is down but i would stay away from accepting them when the market starts to rally. It is just my thought process because i would like to accumulate the coin when the market is down and this is just an hypothetical situation Grin

. If you are a serious merchant that accepts Bitcoin you can always convert the coins to fiat instantly and there are many services that provides those solution.

sirminesalot

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That's crazy investors mentality you have there, most of the new bitcoin investors are always happy with their first 10% growth in a day or so and directly sell it and show it to their friends.
3 years holding and first time selling means you already have that base mentality for an crypto investors and it's you're really have the potential to become a crypto millionaire in the future if you choose a right coin to invest.

Ali771samir

newbie

Activity: 14

Merit: 0

Congratulations on your first sale with Bitcoin. I hope you have more sales with Bitcoin and your business expands with Bitcoin.
As for HODL, I have to tell you that they make the main profit in the HODLER market, but if you are also interested in trade or short-term trading, you can enter this field with low capital.

Mehedi72

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Its pleasure for me to seeing you happy. Even i appreciate the idea what you have done. There are some people who always talk again selling bitcoin! but i think btc is nothing but a currency! So you should sell btc whenever you feel to sell. Taking original capital is good idea. Even this is also opportunity for you to btc when it go dip cause you've cash for that. Congratulations mate

skybot13x

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Activity: 616

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Quote from: wence1975 on July 29, 2021, 12:06:57 PM

Quote from: skybot13x on July 28, 2021, 03:41:20 PM

Quote from: wence1975 on July 28, 2021, 10:53:52 AM

I was mining bitcoin for 3 years invested around 4500 usd for mining equipment
Sold 2.7 btc bought land and paid construction company to build my house.
Am I rich? No but helped me a lot without btc i would never have that i have now plus i have 2 btc for saving
Btc alone gave me a 30-40 years of working and saving
Btc is my god not bank

When you started mining, did your mining device mine at profitable prices or did you have to wait for the price to increase in order to make your investment ultimately pay off? Because often times people are better off if they just buy Bitcoin instead of investing in mining equipment. When did you start mining and which devices did you use? Damn those times when you could mine Bitcoin just with your laptop, that must have been fun! Wink

No I was mining for 3 years and holding almost 8 years i started mining with those usb miners 332mh/s each i could afford buy 15 of them later i get avalon bitfury and s1 in 2 pcs still have all this garbage now in basement lol

That is impressive, I mean holding for 8 years straight really requires balls of steel. Cheesy

Every time Bitcoin goes up you must have thought what if holding is the wrong decision, can I ever be happy again if I don't sell and goes towards zero again? Wink

I can imagine that was sometimes rough to decide that you are not going to take action but just hold and wait until it really goes through the roof, hats off!

DarkDays

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Quote from: Twinkledoe on March 15, 2021, 04:54:59 PM

I am happy for you for what you did. Sometimes, it is self satisfaction that you need to address and not what other people are suggesting. After all, it is your money and they don't care whatever you want to do with it. By the way, can you disclose how much in USD you bought your bitcoin before?

As said above, if you feel happier with this choice good for you, don't let others decide your happiness and sanity for you.

Though now to you got some profit perhaps still worth keeping an eye out for the price as you might want to go back in (maybe not fully, if that's not you want) as based on your saying you're still in extracting value from your money and with the belief that in the future BTC will be worth a small fortune in my view is worth not ignoring the market entirely.

tabas

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Quote from: ?? on ??

Its always great to hear such things and i must say wow! 3 years of holding is really great and the number of bitcoiners that have such patient are really rare...anyway lets see how much time you wil hold the other 95%

That's a good pinch sell for him and someone who's been holding for a long time, there is always the game plan on how long you're going to hold. If you want to hold for so long, still do not forget to sell some for yourself so that you can have that profit that you can do whatever you want with it.

Smartvirus

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Nice one mate. 'Hodl at all cost'. That's something you don't see everyday or gear from people more often but to have been able to hodl for 3years and is just selling now, you did good. Plus, it's just a fragment, a little fragment just to get back at your capital and besides, the bitcoin or cryptoatket has experienced a major bullrun which created what stands now as the ATM. It corrected a lot buy then, its up for a rise now and from where it is, its healthy enough for a sale, at least better than the past 1month. Do your best to always have major bitcoin investment and always hodl if you can afford to.

capcaypro

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Quote from: Ngewex Yuk on July 28, 2021, 10:31:45 AM

Several times I experienced panic when the price of bitcoin drops, but after 2018 I can think calmly to decide to sell or hold, as long as I don't really need money then hold is the main choice.

this is the importance of friend experience. because I also feel the same way and indeed 2018 is a turning point to solidify my thinking, as long as we are still able to hold on and as long as we don't lack anything in our daily lives then I suggest to hold on even longer until your target can be achieved.
but if your target has been achieved why are you still holding on because you have won in the hodling unless you change your target by adding more loads and becoming hodlers again

wence1975

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Activity: 94

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Quote from: skybot13x on July 28, 2021, 03:41:20 PM

Quote from: wence1975 on July 28, 2021, 10:53:52 AM

I was mining bitcoin for 3 years invested around 4500 usd for mining equipment
Sold 2.7 btc bought land and paid construction company to build my house.
Am I rich? No but helped me a lot without btc i would never have that i have now plus i have 2 btc for saving
Btc alone gave me a 30-40 years of working and saving
Btc is my god not bank

When you started mining, did your mining device mine at profitable prices or did you have to wait for the price to increase in order to make your investment ultimately pay off? Because often times people are better off if they just buy Bitcoin instead of investing in mining equipment. When did you start mining and which devices did you use? Damn those times when you could mine Bitcoin just with your laptop, that must have been fun! Wink

No I was mining for 3 years and holding almost 8 years i started mining with those usb miners 332mh/s each i could afford buy 15 of them later i get avalon bitfury and s1 in 2 pcs still have all this garbage now in basement lol

Pamadar

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Quote from: maisao1991 on July 29, 2021, 11:45:54 AM

congrats you made a profit after many years of holding and it looks like you are a long term holder and i think you have hit the mark. I am also holding BTC and will be like you for a long time and will sell it for a fair price.

That's the importance of setting your target, as once you able to hit it the sweet success of your patience is really huge.

If you do trust the system and you believe that this venue of investment will continue to progress, placing your target after buying your coin will let you to relax and not to panic if you see some major downfall, it will save you not to rush things out and made a regretful decision. Remember that bounce always comes up after any massive dumped that take place.

maisao1991

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congrats you made a profit after many years of holding and it looks like you are a long term holder and i think you have hit the mark. I am also holding BTC and will be like you for a long time and will sell it for a fair price.

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