Whats your exit strategy? - page 2. | Bitcointalksearch.org

nc50lc

legendary

Activity: 2534

Merit: 6080

Self-proclaimed Genius

Quote from: Toxic2040 on January 11, 2018, 03:32:30 PM

TL;DR What is your price? Have you picked a number to exit?

I have other sources of income, it's a waste of brain activity to make myself overthink just because of a failing crypto economy.
If someone can't take an uncertain world of "investments" into his gut, why do he even join in?
If it fails, there goes my digital assets (I'll save what I can when the time comes).
I'm taking in and out overtime anyways.

Seriously guys, did you spent most your wealth into your portfolio,
that these kind of situations make you think of an exit strategy?
It is unethical to put what you can't lose in investments. And hodling, is looking more like a gamble.

This will make your everyday works (whatever it is) inefficiently done.

nydiacaskey01

legendary

Activity: 1834

Merit: 1036

For Bitcoin, none, hodl. For Altcoins, I dump my coins slowly specially when I already gained profits but I still see a possibility of a continuous bull run, I sell a portion and I keep some so I can move to another coin to hold and wait till I earned my target price.

rayk

full member

Activity: 448

Merit: 100

I have no exit strategy because I don't think bitcoin can fall to $3K or $5K. I think as most people say, it may fall to $8K, it doesn't make loss much for me.

Leahhhh

member

Activity: 139

Merit: 14

Thanks for your reply. Think I'd go with Gemini, but I'm sure they're all vulnerable to hackers.

Samarkand

sr. member

Activity: 658

Merit: 282

Quote from: Leahhhh on January 19, 2018, 07:57:08 AM

...Which exchange is considered most reliable? (I am in the UK).

Bitstamp and Gemini are the two most legit exchanges. Luckily for you both
of them also accept customers from the UK.

However, you have to be patient, because verification can take up to a few
weeks, because these exchanges are drowning in support requests and new
registrations. But if you are not in a hurry to sell your coins this shouldn´t really
be a problem.

Leahhhh

member

Activity: 139

Merit: 14

I said I would sell one coin at $10,000 (which I didn't do), keep one forever & sell the rest at $100,000. However, my greatest worry is getting my money out safely. My coins are in paper wallets & as someone with no experience of using exchanges & transferring coins around, I find it all very complicated. I've been told to move my BTC out first then BCH & then the others BTG......all have the same key, but I'm worried about them getting stolen. Then I'm worried about actually getting my money out of an exchange safely when I do actually get them sold....I've heard too many stories of money going missing & people not being able to withdraw. Which exchange is considered most reliable? (I am in the UK).

thecodebear

hero member

Activity: 2240

Merit: 848

exit strategy is sell a little bit around $40k to $60k (late part of this year or early next year), sell a bit more to fully fund a retirement account from scratch when it hits maybe $80k. And once it goes over $100k just start withdrawing a few thousand dollars a week over the course of a few years until I only have maybe one or two bitcoin left, just hold those long term in case it truly gains mass adoption and goes north of $500k. Probably sell a few ETH when it hits around $2500 or $3000, keep the rest to see if it can go over $5000 and sell north of that.

oriz345

newbie

Activity: 119

Merit: 0

I might exit when the total market cap reaches around 6 trillion. We have a long way(and probably 2-3 yearsish) to go

The_Dark_Knight

hero member

Activity: 840

Merit: 502

Quote from: BitHodler on January 14, 2018, 07:01:42 PM

Exit strategy? I am not going to convert my precious coins into something that only loses purchasing power. Seriously, at this point in time money on your bank account costs you money, so it's a pointless practice.

Money sits safe in Bitcoin, and definitely so with the added benefit of seeing the price go up continuously throughout the years. If we look at the past performance of the market, then it's safe to say that hodling is the only right option.

And the people having sold way back, have likely bought their coins back at higher levels. The money you got for selling your coins back then will buy you less coins at these premium levels, so just keep hodling.

Selling is only an option if you trade the volatility and have enough coins sitting in your cold wallets.

Nothing wrong with that, but at the same time you do not need to use your bitcoin to get fiat, you could use it to buy real estate or to create a business, now while that is not going to give you the profits of bitcoin, if you have a high amount of bitcoin you could diversify your investments, that way no mater what happens you will get great benefits.

MidKnight

full member

Activity: 476

Merit: 101

I will not exit this game as long as it gives me profit but my plan is when I achieved more than enough bitcoins is I will reduce the time that I give in trading and will just look at it a few hours a day because I'm giving 10 hours a day.

onrise

sr. member

Activity: 1512

Merit: 316

Quote from: UnDerDoG81 on January 14, 2018, 12:13:12 PM

@50k I would cash out 50% and invest it in other stuff. That way I would not jump out of the window, when the crypto market fails

Reaching 50k itself may take some time and waiting for that means losing out opportunity to make money from other altcoins which is the future in 2018 and coming years. So better to keep buying some altcoins and then when it rise convert to BTC or ETH and then sell out when you require money or your target has met it.

Ararbermas

sr. member

Activity: 2016

Merit: 283

Quote from: Paverspacers on January 14, 2018, 04:43:35 PM

I really like the exit strategy that gradually sells positions when prices are going up... Although gains aren't maximized, we can never tell the difference anyway, unless we can predict the future.

selling when the price is rising is not good strategy mate you need to change that strategy. Cause indeed we should exit when the price down then buy back when the price rising gradually . How can you gain profit on it.? Haha i suggest to do what others do. which is exit when the price decreasing instead of selling gradually while the price is rising cause its a big help to multiply your profits.

BitHodler

legendary

Activity: 1526

Merit: 1179

Exit strategy? I am not going to convert my precious coins into something that only loses purchasing power. Seriously, at this point in time money on your bank account costs you money, so it's a pointless practice.

Money sits safe in Bitcoin, and definitely so with the added benefit of seeing the price go up continuously throughout the years. If we look at the past performance of the market, then it's safe to say that hodling is the only right option.

And the people having sold way back, have likely bought their coins back at higher levels. The money you got for selling your coins back then will buy you less coins at these premium levels, so just keep hodling.

Selling is only an option if you trade the volatility and have enough coins sitting in your cold wallets.

richardsNY

legendary

Activity: 1232

Merit: 1091

I don't ever plan to exit. I just use the market's fluctuations to grow the number of my Bitcoins gradually, and that's really it. I am not a person thinking that Bitcoin will replace banks and payment services such as PayPal, MasterCard and Visa, but I do see a great future for Bitcoin where I at some point might get paid in Bitcoin, purchase my daily needs with Bitcoin, pay for gas with Bitcoin, etc. We might even reach a point where people aren't that willing to sell their Bitcoins anymore due to the economical difficulties in their country. If we look at various countries with actual economical difficulties, the Bitcoin markets there have insane premiums over the western market, and that just shows how desperate people are.

Paverspacers

newbie

Activity: 36

Merit: 0

I really like the exit strategy that gradually sells positions when prices are going up... Although gains aren't maximized, we can never tell the difference anyway, unless we can predict the future.

aardvark15

hero member

Activity: 1008

Merit: 510

I plan to sell gradually over a long period of time. This way, the bulk of my investment can keep growing while I cash out a little every year.

The point at which I begin to cash out is hard to determine for me, but I think it will be based on a price target of each coin I own. For example, I may not sell any Bitcoins until the price of a Bitcoin is $50,000.

Of course this could change if I need money or need to cash out some just to pay for capital gains taxes.

btc_angela

hero member

Activity: 2660

Merit: 551

Kinda dumb to have a exit strategy. But as long as you selling and having a margin of profit then it will be good. Nevertheless, I never had a fix price on when to exit. As long as I can hold long term, the better because bitcoin price really tends to increase overtime.

The more we stay longer, the better for us. How many times do we hear people that bitcoin is expensive and not buying? While we have bought/earn bitcoin when the price is low. So we are a advantage of not getting out.

UnDerDoG81

legendary

Activity: 2179

Merit: 1201

@50k I would cash out 50% and invest it in other stuff. That way I would not jump out of the window, when the crypto market fails

roxbit

member

Activity: 294

Merit: 10

Quote from: ChinkyEyes on January 13, 2018, 12:02:23 AM

I don't really have an exit strategy, but more of certain milestones in which I will sell portions of my portfolio.
To buy a house for example or to start my own company, only then I will exit a portion to fund that. The rest I will hodl forever, and use it as a rainy day fund. It's important to store some of your wealth outside fiat, so it's better to store it in real estate, crypto or stocks.

Maybe its too early for me tell about my exit strategy, I am not sure what amount would make me leave crypto. Why do I have do that when I can pass it to my next generation? For sure btc is going to be a real currency and will soon be accepted worldwide. That’s for sure the future of btc and the rest cryptocurrency and altcoins.

ChinkyEyes

sr. member

Activity: 687

Merit: 301

I don't really have an exit strategy, but more of certain milestones in which I will sell portions of my portfolio.
To buy a house for example or to start my own company, only then I will exit a portion to fund that. The rest I will hodl forever, and use it as a rainy day fund. It's important to store some of your wealth outside fiat, so it's better to store it in real estate, crypto or stocks.

Topic: Whats your exit strategy? - page 2. (Read 975 times)