Topic: Sold my first Bitcoin and am happy - page 9. (Read 2546 times)

All decisions are indeed everyone's choice, no one can prohibit it. Including about a speculation price of $ 500k. people can disagree because it is a free world.

Why do I say logically it is still far (not impossible). Because the price is too high and some groups and banks will not stand idle when the price of bitcoin is out of control and too over.

2 years or even 10 years in the future we still don't know how the development of bitcoin is.

Everyone has their own goals, indeed no one can prohibit when targeting a very high price on bitcoin, the most important thing is that the money used is not money and is required to be withdrawn at any time.

Well, count the profit for that reason because the price is good when he had sold. Unlike the others who did it and was caused of panic, they're regretting it now.

For the record, he had said it that he's going to buy again if it dips.

I don't get where you got the idea that it's only the bounty hunters who do that.

If 5% selling could make you this happy, it means you're holding a lot of bitcoin in your bag. It feels good you are gradually paying yourself for been patient over the years to have earned massive through the Bull season. Diversifying your portfolio into other shares is quite awesome.

At some point you have yo take your porift, there is no point on hodling for too long. Give yourself a break and enjoy the fruits of being patient. It isn't easy to hold your self from selling especially if you see that you are already at profit. Some early adaptors who bought BTC in less than a dollar wpuld've been tempted to sell when BTC went to 100$, patience gets rewarded in crypto.

Holding bitcoin for three years means you must have bought at a very low price and selling now means you've made a lot of profits, even if it's only 5%.
Personally, I do think that it's great how that you sold some of your coins. The satisfaction that comes with having some profits over your investments is underrated.
Many people hodl for very long time with the hope that the price of bitcoin will always go higher. They may be right, however, looking at it practically, that would mean there will never be a time for them to sell since bitcoin always has the tendency to rise in price.
You should know that you don't really have money until you can use it.

First you need to ask yourself whether you can hold the coins for up to 4 years. If you can't hold for that long, then you need to come up with a plan to do profit booking. I am saying this because during the last 9 years I have seen a lot of noobs making the mistake of doing panic selling. They are not ready for extended bearish phases, which can last for 1-2 years. So always consider this possibility while you plan for long term hold.

Profit is profit, congrats your patience really paid off. Its not bad if you take and enjoy some profits since not all holders reached your stage. Proven that Bitcoin is worth hodling and anybody has their different strategy on until when to hold and exit. But just like you most of us are very optimistic about Bitcoin’s future.

Ahem, just to clarify that I didn't hold on for so long just because of willpower.

Another reason is that I am self-employed and work through my own Limited Company, and so am constantly under threat of investigation from the tax authorities.

I was essentially lazy in leaving it so long to check with my accountant about Capital Gains Tax and I have now even purchased special insurance to protect against tax investigations.

Basically, I was worried that selling Bitcoin might alert the tax authorities and initiate a wider investigation into all my financial affairs.

And in fact, I turned out to be correct about this, as Coinbase now has to inform the tax authority of large transactions in the UK.

That's really a tough job to do, holding when you see that your investment already been fold many times. It's really insipirational
knowing that there are people who really believe to this industry.

Holding 1BTC way back where the price is much lesser, and with so many falls that happened before hand, that's a good decision
making to keep it and now sell with a huge profits.

Time will tell, but people said the same thing in 2010, 2011, 2012, etc.  Those people sold at $5.  Or $30.  Or $500.  Or $1000.  Or $5000.  Maybe they needed the money and are happy about doing so, maybe not.  It was their choice in a free (at least in some places) world.

If you *need* the money for something, certainly sell, but blanket statements like that have been proven wrong many times.  If it makes you happy, sell.  If you are stressed about the ups and downs, sell.  But don't do it just because someone says "logically that is still not possible and still very far away." It may be a long time, it may be short.  It really depends on you and your goals and what you consider "long" and "short." 

I don't think anyone ever thought it means "never ever sell your BTC".  What it means - at least to me - is that you don't sell until bitcoin has reached fiat equilibrium and then you don't need to sell because you'll be able to transact in bitcoin without needing to convert.  If usage continues to increase, whatever the use, whether fiat inflationprotection, buying stuff, speculation, an ETF, smart contracts etc, equilibrium will be another order or two of magnitude from here.  So another 10 or 100 times in fiat terms from here, or potentially 500k to 5000k in USD terms.  In early 2011 people were saying "dollar parity won't hold" and thought $30, $100, $800, $2000, $10000 etc. was a pipe dream, let alone $50-60k.  Another 1-2 orders of magnitude is certainly possible, who knows when.

At the time when the initial drunk HODLING post was posted, bitcoin was around $800.  All the people who were shouting "bitcoin is crashing" and other nonsense sold.  He held.  I don't know when or if he's sold yet, but if so, he has done well.   It has been the same story since summer 2010 when I first read about it.  Every time bitcoin goes up and then goes down some.  With trading, you may get lucky or unlucky, and lose it all.

The way to get "diamond hands" is to buy and wait.  (I used to say mine and wait, but that ship seems to have sailed for now for many people).





* And I saw his post just as he posted it and though, "this is the dumbest thing with HODL" and look at it now everyone is using it, although it is still idiotic, so what do I know.

LOL $ 500k is your target.
you will hold it for life, do you not want to profit from the Bitcoin you hold.
it is not wrong to target a price of $ 500k but, logically that is still not possible and still very far away.
Getting to $ 100k this year is still pretty tough. Bitcon will not continue to rise, there will be times when bitcoin is bearish and is at its lowest price.

but if you hold bitcoins without expecting a quick profit and can hold them for years, that's pretty awesome. But the big profit depends on how much BTC you can hold, buying it gradually at different prices would be very good.

I think it would be better to just make it private on how much did he disclose his bitcoin, maybe if he wants to share it then he probably do it already by doing this post. It is always you who will decide on what you will do on your money because of the end of the day, you will be still the one who will decide of it maybe you will get some opinions of other people but still the final decision is yours. The 3 years of waiting is all worth it because it was paid off already, good to you bro.

3 years in holding? That was a long sacrifice but it was paid off.
I'm for sure that only a few people who've been doing this coz it possible that they sell their Bitcoin at the first market rally at $20k, $30k...But you have that strong faith and the situation gives you a favor.

And you are holding 1BTC, it is already big money when converted to fiat. It is already a million to our currency. Pretty impressive, though.

Congrats bro! Your hand so strong because you can hold BTC for more than 2 years.

Hope your story can motivated me to hold my BTC for long too, i've been holding my btc for 6 months and my target is BTC can reach more than $500k.

you feel happy after selling for the first time and this can cause addiction  .
 you will look forward of selling your coins when you have a chance but the saying "hodl at all cost " dont mean that you must hodl forever but it excludes some reasons on why we must sell .  
btc is invented because satoshi wants freedom for us not remain as a slave because you keep your promise of hodling . you control your own coins why will you limit yourself .

Well knowing buying bitcoin wayback 2017-2018 was just only cost about $3000 more or less was too far different than buying at the present bitcoin market value which is $54,380. I could imagine how the OP did try to control himself not to sold his bitcoin wayback when the market was saturated. I am happy for him earning a profit that he deserve, because waiting for three years and having a patience to hodl it for a quite long time was not easy.

I am someone who made the mistake of selling BTC at extremely low rates (~$200 per coin in 2015). My advice to everyone here is to hold on to at least 70% or 80% of your coins for the long term (i.e at least until 2024). With all the stimulus measures and welfare splurge by the governments, it is just a matter of time before ordinary people use Bitcoin to protect their wealth. Once that happens, BTC can go to very high levels, even beyond the dreams of the majority of the users. We have seen the exchange rates increasing from $0.001 in 2009 to $61,000 in 2021. We can wait for a few more years, so that the exchange rates will touch 6-digit figure.

What exactly price did you sell? I think you mare already earned a profit with the 50k price of the bitcoin but did you already manage to not a having regrets about these decisions? I'm just asking because there are a lot of people who got profit and now having doubt about their selves because of the regrets there is a chance that the coin increase more but at the end of the day they already pulled out. It's just a normal thing I guess because earning is still an earning.

Congratulations on your decision hoping you enjoy those holds for a long time and make a good profit.

Did you sell it in the current price market alone or you put also an interest rate for it? I'm curious.

Anyways, I know how you exactly feel. Selling your Bitcoin successfully after such a long time of perseverance is like receiving your very first Bitcoin in a signature campaign salary. I remember my first time having my bitcoin salary in my first signature campaign. I was so happy and proud about myself and finally believe even more in Bitcoin's capability and existence.

Congrats OP and continue to do profitable things rather than making random decisions because of panicking.