OK, I'm out. Sold everything @ 6120 euro. Only have some Dash and Byteball left. Gonna watch this whole Segwit2X-thing from the sidelines, I'll buy back cheaper or more expensive depending on the outcome.
Hope this selling everything pans out as well as the last time I did.
Last time you sold was at 600 euro to buy a Ducati. You should be proud now riding the most expensive Ducati ever?
Yeah... hahhahahahaha
#r3kt
Funny how folks try to come into this thread and talk their bullshit, either FUD or consumerism with an asset such as bitcoin, in which we already should recognize as one of the best appreciating of assets. Furthermore, lessons should have been learnt, but these guys never learn and they sell and then buy higher and then sell and then buy higher... . which should indicate that you should not be going full fiat - unless you just happen to be randomly lucky and like to play against the odds.
Maybe it should be described as fear induction based upon: "being over invested"?
Well, of course selling out, so far has not been the most productive way of handling BTC. Of course there also is the fact that on a long enough timeline the... . (You know the rest), also is true. So my plan is to hold and grow, but split off gradually more to increase quality of life, which is not translating into lambinos and duckatis in my case. Lol.
Well, I guess that the julian071 post was getting to my level of contention and resentment of the posters who seem to be advocating a kind of irresponsibility that includes gambling and seemingly whimsical cashing out of BTC on consumer items.
Don't get me wrong, there is nothing wrong with taking profits or even engaging in consumerism to enjoy some of your BTC profits, but there is, also, a kind of seeming irresponsibility included in such attempts to get others to cash out of their BTC when the odds are not exactly in favor of an additional crash of BTC prices, and in fact there is considerable ongoing ambiguity about BTC's price direction (both short term and long term)...
So, of course there is more responsibility involved in cashing out incrementally and cashing out while BTC prices are going UP or even taking some incremental precautions in order to have some fiat available if BTC prices dip further, but frequently, we have ambiguous information, too including the existence of both upside and downside BTC price pressures.
By the way, there was someone who had posted recently about getting out all of his BTC investment plus a certain extra percentage, and therefore kind of feeling like he is playing with house money, and maybe I am in a similar situation.
In recent times, I certainly have cashed out more than the amount that I have invested into BTC - however, my fiat has been kind of hovering in an available to reinvest status. So, yeah based on BTC price appreciation, my BTC portfolio involves funds that are BTC and fiat, and the value of the fiat is more than my original investment, plus a bit extra for interest. At the same time, I have about 90% in BTC and 10% fiat.. so anyhow, the BTC part could be conceptualized as pure profits.
I mean, really, I have no compelling desire to run off with that particular fiat and to go have fun with it.
In my life, I have plenty of cash flow, and I have only invested extra fiat into BTC, so my monthly expenses are covered by other sources. I get plenty of entertainment, and I have nice things in my life and I feel comfortable.
I also have a business that kind of ties me down geographically; however, there is likely going to be a day in the fairly near future, where i just go nuclear on my business, because I really do not need the business to generate income for me and really my bitcoin savings and earnings from bitcoin can really serve me well in that income generating and reserves capacity, so in that regard, I have no real compelling need to sell my BTC at the moment, but I think that I have plenty of BTC in order to just begin to spend more and more of the BTC proceeds and not worrying about the value of my remaining BTC stash because it remains sufficient for me (the quantity of both BTC and fiat), and I have a system that pretty much allows me to cash out BTC incrementally (if I want) without folding the cashed out money back into the BTC system and having the money available to reinvest into BTC because there is plenty of equity that already is present in the whole fund... so yeah, if I want to buy a lambo, fine.. if I want to buy a duccati, fine, but I am not cashing out large amounts of BTC in order to accomplish any of my consumption goals, because the money is already there, if I want.
Of course, if BTC prices drop by 2/3 or more, then there is going to be a lot less equity in my BTC allocated fund (both the value of the BTC and the fiat that is there), and at that point, maybe there would be a question whether I continue to use fiat reserves to reinvest in bitcoin or just to hold the fiat reserves for personal spending? In the end, BTC remains really volatile, and sure there are likely ways to attempt to protect from volatility but also to cash out some of it, too and not to use that money towards reinvesting, but just to live off of that extra money that has been generating, while not sacrificing the continued holding of a certain reasonable quantity of BTC.
