Sorry, I removed part of the thread for easier quotation.
Selling 20mil (in the example) would result in an enormous tax bill, which essentially defeats the purpose, IMHO.
I am waiting for a situation where you can reliably get either interest on btc instead or get cash loans in lieu of btc.
Once the field moves to include large institutional players for custody and loans (like Fidelity, etc)-that's a better idea...plus maybe selling all forks this Fall-Winter.
Basically...you don't have to sell. I keep saying this, but nobody seems to listen.
EDIT: I wonder when we will have 8% (on the way to above 15%) interest rates on 30-year again. Maybe in 5-10 years, unless CPI will start going up truly crazily.
Just the bit in bold .. depends totally on your personal situation, you cannot generalise like that.
How long are you prepared to wait for that situation to come to pass? Til you are 60 ... ? ... what if you are 60 today ... 65 ... 70?
There are any number of situations where it might be appropriate to cash in some and use it for, well whatever ...
the point is not that you have to wait to sell until certain age...the point is that there are other methods (used by wealthy), apart from selling to get needed cash.
You don't f-ing sell the best asset of the millenium...or at least, you shouldn't. This was not my original position, but I learned along the way.
You misunderstand what I am saying I think .. you said
“I am waiting for a situation where you can reliably get either interest on btc instead or get cash loans in lieu of btc.” ... so something that you cannot do today. So you (and everyone else) has to wait for that to happen ... my point is how long are you going to wait? Each person is different and their willingness or ability to wait is also different.
A person who is already later in life will have a different perspective from a younger person ...
the best asset of the millenium is no good to me dead!
I continue to have some difficulties understanding some of the thinking about don't sell no matter what and you can never have enough BTC.. and in some sense, these kinds of ideas seem to be coming from people who either do not have hardly any wealth or they retain a kind of scarcity mindset in terms that they are kinds of hoarders in terms of worrying that they never have enough.
Seems to me that there should be various points that guys (and gal) realize that they have enough, more than enough or way more than enough.
Of course, each person should be attempting to figure out these balancing matters for their lil selfies... and even if bitcoin has gone way up or might have less upside potential than it did when it was in the three digits (sub-$1k), bitcoin seems to have considerable fundamentals to remain serving as a big ass asymmetric bet... so in that sense, you really do not need to invest high amounts of value in order to have bitcoin serve as a great investment... 1% to 10% remains decent amounts.. and of course DCAing remains prudent and likely to be ongoingly profitable too.. so long as you have a decently long investment time horizon of more than 4 years but longer is even better.
At the same time, if some folks may have over invested in bitcoin (beyond the 1-10%) then it may well not be bad ideas to shave off some profits as the BTC price increases.. and especially if you are decently in profits or if BTC starts to become very high percentages of your total investment portfolio.. mostly due to BTC price appreciation.
