A bonus protip.. you do not become richie by selling your BTC.
Without selling any BTC how you will be rich then? Of course selling all will be stupid.. but you have to sell sometime... world still runs on fiat...
(and Merc, GMC, Toyota, Honda etc)Surely the implication of my above snipe is in regards to selling all or selling too much too soon.
Of course, also, there is a need to figure out a kind of balance, but in these times, there should be goals of figuring out accumulation goals and attempting to manage such accumulation goals. Once you have achieved your BTC accumulation goals (and perhaps even over-accumulating) then you have a lot more flexibility in terms of selling portions or reallocating or whatever.
Bonus protip 2: attempting to accumulate BTC by selling BTC is quite likely a very much inferior strategy to DCA buy, buy on dip and HODL -
Bonus protip 3: Like any rule there are exceptions, don't automatically believe that you are going to be able to fit within the exceptions - until you have mastered and understood the basics first - which in BTC are DCA buy, buy on dip and HODL.
if all you do is buy to acquire BTC
DCA & buy dip HODL are best.
Of course, there are some other ways to acquire BTC, such as getting paid for providing goods or services or mining.. but I am largely trying to focus in on the implicit suggestions of some of the various earlier posts that seem to be battling with where exactly selling fits into any bitcoin strategy, and surely I am trying to emphasize that if you have not yet reached your accumulation goals then selling with a hope of buying back lower remains a kind of gambling approach rather than a prudent approach...
Sure, on this particular point, philip, you and I seem to NOT be very far apart, and in the end, guys can do whatever they want, even though maybe both you and I will be suggesting them to be fools if they are regularly and ongoingly fucking around with selling some or any large portion of their BTC in order to attempt to buy back lower.
To think you can buy the Dip sell the peak Wait for the crash and buy in real low is a pipe dream.
Sure it can work for some people, but it does not tend to be a very good practice - unless done very limited in scope, and many of us recommend staying completely away from such an approach, like you are saying because with a long enough time-frame (historically at least 4 years), BTC has historically tended to go up in price - and there are no real signs that such ongoing UPpity trends are NOT going to continue, even if there are no guarantees with any investment, including bitcoin - even when the odds of going UP and continuing to go up and to pay off with ongoing investing into it, seems to be quite decently well in the whole scheme of things
Even though I mine for most of my BTC
I buy dips on PayPal for PAYPAL btc
I DCA on coinbase.
It does seem a bit strange that you have likely been into bitcoin since 2012 - presumably by your forum registration and you are still in BTC accumulation mode - and even more surprising given your age, too..
You likely have a decent amount of mistakes were made considerations in terms of some selling too much bitcoin in early days. I mean I can imagine sub $10 bitcoin and just being able to have a decently sized stash from those kinds of prices..
sure, I personally got into bitcoin at around $1,200 and was able to buy quite a few coins in the 3 digits including getting a coin or so at $180 in the January 2015 dip, but still I probably only shortly brought down my average BTC price to around $400 before it ended up shooting up to about $750 based on one of my mistakes were made situations... that involved hackings and some failures to adequately security my sim porting situation.. and I had not realized it as such a powerful attack vector prior to suffering from it...
right now coinbase has a nice setup a $50 usd weekly buy and they give you $10 on 4th and 8th buys.
so 420 worth of btc for 400 via a weekly DCA of eight weeks.
And those are not bad incentives (bonuses) for folks trying to reach their BTC accumulation goals.
