De-raking
If the goal is to maintain 80% of your portfolio in Bitcoin, what do you do when the price falls a lot (for a non-catastrophic reason)? If you had $80,000 in BTC and $20,000 in fiat, then the price halved, you'd now have $40,000 in BTC and it'd only be about 67% of your portfolio. Wouldn't you want to buy back enough BTC to bring the ratio back to 80/20?
Obviously there are limits to how low you'd go with this, but does this have any use or does even any rebalancing on price dips ruin the whole point of the rake/hedge?
Zang: I'm usually a big fan of your posts, but I think your de-racking idea is extremely dangerous. The whole idea of the rake is to allow you to enjoy the run-up, recover you initial investment, and emotionally detach from the bitcoins you are "letting ride."
I maintained a Zen-like calmness through this crash, I think in large part due to the SSS. By now I have raked* an amount roughly equal to my initial investment, and for some reason when the price rallies or crashes the dollars gained or lost seem ephemeral.
That being said, since I still earn a wage, I take 10% of the extra money I have from each pay cheque for "savings" and put this into bitcoins. This amount is now trivial compared to my long-term holdings, but I see it as a low-risk vote of confidence in the bitcoin economy.
*The best way to rake, if possible, is to purchase things directly with your bitcoins.