I know the feeling bitcorn. I felt sick last week too. I had to stop looking at the price.
Even though my investment was fairly low, the profits are now high.
Maybe I should take out a large percentage of my profits? If I do that and it goes up 400% I am in the same boat. More sickness.
I think I'll do my original plan and hodl for more years. Hopefully this will pay off. I need to forget short term and think long term really.
I thought the same thing. But I chose to HoDL (and keep HoDLing for several more years). My thinking is that if it goes to zero, that's OK, my investment was not big (a few thousand EUR). I won't miss it. I can afford to lose it. My life won't change. On the other hand, what'll happen if I convert it to fiat and then it goes to the moon? I'm sure I'll feel really bad about it, much worse that if I lose my investment. And going to the moon
will certainly change my life for the better. It's a risk I'm willing to take.
My suggestion to all BTC owners:
HoDL! And if you have the skills & guts, trade a little (not too much). As for me, I don't want to trade because I know I'm not good at it.
I have a close mind set as yours but with a twist
, I always take % (the big part ) from the money I make and leave it as long term investment in BTC and never look at it no matter how low or high the price go I am in it for jackpot not just for some profit . The other % (the small part) of my money I use it to trade and sometime withdraw some if needed .
Ditto. Mined my way out of debt to 💯 BTC. The last 2 years mining profits
above that I live on speculate on new equip, punting down the road, hoping
this kicking can down the road, with that income and equip purchases to keep
IRS happy, and me legal, works out for the income hamster wheel, to keep moving
In other words, gambling on Alts or miners etc and keep hoard in BTC, the hoard in BTC and
alts is all. The rest will be luck and mostly miner rebirth 2018 onward. Or so the bet
And not give 1/2 income from miners to tax man
The income may pan out as a draw for equip with taxes. But I'm having a hell of a lot of fun with
No risk to the hoard. So wtf.
Find a hoard number, you can reach on BTC, then take speculative risks. If BTC works
Long term to say 10k BTC or more, even if speculating and taking income above your number
Will not matter much imho.