Pages:
Author

Topic: Sold my first Bitcoin and am happy - page 9. (Read 2537 times)

legendary
Activity: 2674
Merit: 1823
Rollbit.com | #1 Solana Casino
March 18, 2021, 08:07:35 AM

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." 
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a very high price on bitcoin, the most important thing is that the money used is not money and is required to be withdrawn at any time.
hero member
Activity: 3038
Merit: 634
March 18, 2021, 07:55:18 AM
That's what needed for one to feel, to be satisfied upon selling a portion of their holdings.
Specially for OP that he only wanted to feel the selling chance and nothing more , it wasn't about the profit or anything but the feeling.
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.

Quote
As long as you're happy and you know what you did at the current price which doesn't hit you mentally, that's what needed for you to look at. You're good and you can just buy it again which is part of what you've said and that's a good strategy.
He has not plan using the amount for even trading , that is solely selling chance is what he wanted.
For the record, he had said it that he's going to buy again if it dips.

Quote
There were many that sold theirs and don't plan to buy back those sold bitcoins that they've done. You sell some and hold more.
Lol that is only for Bounty hunters , in which selling their coins because that is all they wanted and not like OP in which Holder and the intention to sell is that the feeling only.
I don't get where you got the idea that it's only the bounty hunters who do that.
sr. member
Activity: 1288
Merit: 305
yes
March 18, 2021, 04:43:23 AM
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.
sr. member
Activity: 1596
Merit: 335
March 18, 2021, 04:39:45 AM
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.
full member
Activity: 896
Merit: 104
The Standard Protocol - Solving Inflation
March 18, 2021, 04:21:12 AM
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.
legendary
Activity: 3752
Merit: 1217
March 18, 2021, 04:10:29 AM
I agree that to hold Bitcoin is a good idea and very useful. There is a good predictions about future growth of Bitcoin. As for me I like to read different predictions.

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.
sr. member
Activity: 1540
Merit: 420
www.Artemis.co
March 17, 2021, 12:24:45 PM
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.
member
Activity: 224
Merit: 36
March 17, 2021, 12:05:13 PM
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.
sr. member
Activity: 1456
Merit: 267
Buy $BGL before it's too late!
March 17, 2021, 11:27:15 AM
Just sold 5% of my Bitcoin that I've been holding for 3 years and I feel satisfied doing so.

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.

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.
legendary
Activity: 4130
Merit: 1307
March 17, 2021, 11:01:08 AM
#99
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.
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.

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." 



legendary
Activity: 4130
Merit: 1307
March 17, 2021, 10:46:20 AM
#98
Taking a profit after such high returns is never really a bad move, especially on a such volatile market.

"HODL" initially meant avoiding daytrading and being a long-term investor, but somehow it started meaning "never ever sell your BTC", which isn't that great - there's actually no guarantees that Bitcoin will reach $1 million or whatever other price people hope for, and HODLing means denying opportunities to sell high and buy back low, which isn't actually that hard to do, considering that Bitcoin tends to crash very hard after the peak of the bubble.

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.
legendary
Activity: 2674
Merit: 1823
Rollbit.com | #1 Solana Casino
March 17, 2021, 10:44:59 AM
#97
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.
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.
sr. member
Activity: 1498
Merit: 416
March 17, 2021, 10:36:25 AM
#96
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?
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.
hero member
Activity: 2926
Merit: 657
No dream is too big and no dreamer is too small
March 17, 2021, 10:05:19 AM
#95
Just sold 5% of my Bitcoin that I've been holding for 3 years and I feel satisfied doing so.

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.
full member
Activity: 924
Merit: 100
March 17, 2021, 10:00:46 AM
#94
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.
full member
Activity: 1638
Merit: 122
March 17, 2021, 09:55:13 AM
#93
Quote
However, I also feel like its broken the "HODL AT ALL COSTS" mindset which I felt was getting a bit unhealthy.
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 .
hero member
Activity: 1498
Merit: 586
March 17, 2021, 09:49:13 AM
#92
I believe everyone feels satisfaction after successfully holding Bitcoin for 3 years and selling it at a high price. Maybe you invested in large
amounts of Bitcoin, because you only sold 5% of your Bitcoin and were satisfied. Then I can understand why you have an unhealthy feeling,
because deciding to sell your Bitcoin after a successful HODL for three years is sometimes not easy.

Because what you really want is HODL without selling it no matter what, but sometimes times change our plans. So in my opinion there is
no problem changing our original plan if it is still profitable. Sometimes we really need to sell the Bitcoin that we have when it is profitable
to buy Bitcoin again when the price drops.

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.
legendary
Activity: 3752
Merit: 1217
March 17, 2021, 09:17:59 AM
#91
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.
member
Activity: 512
Merit: 44
March 17, 2021, 09:13:55 AM
#90
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.
sr. member
Activity: 2436
Merit: 455
March 17, 2021, 08:59:20 AM
#89
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.
Pages:
Jump to: