Topic: What's your exit/take profit plan with Bitcoin? (Read 669 times)

here I completely can agree with you, because I myself am a great example of the implementation of my plans with the help of crypto currency. With credits it is necessary to forget finally. Of course, the banking system is very strongly linked to the humanity of its structures, But we need to leave it in the past.

I think that to date Bitcoin shows very good results, but that the nemesis can get to wait for even the highest level of the goal and then you can afford much more than planned. I was always advised not to rush with the sale of Bitcoin and pay no attention to the loans, because with the help of the crypto currency you will get rid of the problems of debts and everything else.

At what point do you feel it's risen enough for you to start spending in a more wanton manner without being haunted by it? There'll come a price level where it all becomes somewhat academic, maybe it already is for certain people. It's free money now, it'll be even more free money in the future.

I spent a bit around the $1000 level. It would've been lovely to pay 6 times less for the same filth but I don't regret it as Bitcoin had been making me wait long enough so it was time for it to repay my patience.

I've made a tools that help me to find the best answer for myself, check it out at https://bitcointalksearch.org/topic/snip-removed-2281136

where are the services that enable bit coiners to get hold on some cash (lambo, etc. without giving up magical internet tokens that will rise 4ever?

I own a €46 000,- bike now. is great but sucks. I should have gotten a €5k loan for the bike and could pay it back now with ONE bitcoin. instead of selling 10 btc for it two years ago.   

Well for a start, you are obviously in a nice situation and it is a problem that I am sure many people would like to have!

I too have been thinking about this, though the number of Bitcoins I hold and the initial investment I made were probably much lower than yours.
I go onto Bitcoinity and set the chart to 6 months.  6 months ago the price was $1150 or so, and we were all fairly happy with that at the time.  I assume that $1150 isn't a high enough price for you to retire though.

There is no real reason why the price couldn't fall back to $1150, hopefully it won't, but really it could. So you have to ask yourself how you will feel/cope if that does happen.  I guess for you it wouldn't be a tragedy, but it would mean that you would have to work/save for a longer time before retiring.  If your goal is to retire with the amount you have now, I don't really see much downside to doing that.  Or you could sell some of your Bitcoin, and leave some for speculation based on how much you can save in the time you have until retirement (I wouldn't want a large amount in shares now with the ATHs there)

My plan was and remains to sell when I feel that the price is high. I won't get rich from Bitcoin, but I have gone from having not much saings, to having a fairly good amount of savings.  I want to keep some skin in the Bitcoin game though, incase the price really does end up being $100k or whatever people like to predict. So I sell on occasion, and I do not buy at these prices. I am in profit and the only way that I can end up not in profit is by buying high.  If in 6 months the price is back where it was 6 months ago, and I bought at $5700, I could find myself having hardly any savings again, which would have negated the whole Bitcoin rise we are enjoying now.

Sorry for the long, rambling answer!

That's the exact reason why I don't put my Bitcoin in exchanges for long-term, only when I'm going to trade them.

I prefer holding my bag for a long term. Well there's a big chance I can make earn huge profit then, yes never sell your btc when you're not earning yet. Sell it when you think you earn enough take profit rather then buy when price drops. Because eventually btc price will continue to rise.

my plan so far has been to buy bitcoin and then use that bitcoin to make profit, usually by trading the pump and dump altcoins and enjoy the rides. then buy some more bitcoin as time goes on and i get some money at hand. and then buy even more bitcoin whenever there is a big FUD and a big dump because newbies are panicking.

exit/take profit? i rarely sell a small amount to get my initial investment back but still have a good sum of bitcoin left

Sell little pieces and buy back when a good deal comes around. Never ever sell for less than the bought price.

It has a long term future so its all about catching the waves if and when you can and enjoying the ride up.

You loan what? You mean in Poloniex? I was considering getting on the loan game to get some BTC going with my stack, but honestly at the end of the day it's an huge gamble. At any given time, Poloniex can get "hacked" and then your coins are lost. We all know that keeping big amounts of BTC on exchange is a mistake, and to make gains in the loan game we all know you must be holding a big amount... and it ends up feeling a ponzi.

It's very tempting to have money parked there and make more money doing nothing tho.

Probably going to sell some of my stash around 7500 and more in the high 9k's if we make it there. I can see this topping out between 10-15k.

Currently all the Bitcoin I have will probably be a long term investment. I have my funds divided between Bitcoin and a few altcoins. I may shift money around and buy more Bitcoins at some point, but I don't think I'm going to sell any until retirement.

So to answer the question, my exit point is not really a price but rather hold as long as I can before I need the money. I think the price could just keep rising indefinitely because of the deflationary design of it.

Honestly i still don't have plan to exit with bitcoin but i am planning to start business buying more miner with my profit and save more amount of bitcoin that i think could be passive income since i am not alone living i have family and child so i think my exit plan here if all of my profit invest into hardware to mine more bitcoin that can i inherited to my child or any in my family members this is what my inheritance to my family for future life..
Your good plan are also good but actually it is good only or one person..

That is why i teaching my young brother about bitcoin since my child still young i teach my young brother to learn in bitcoin and planning to have my own business with bitcoin so that they can also help spreading bitcoin here in my area or country..  and my exit plan i will be just watching them how they can scaling up all profits in bitcoin.. 

I wouldn't say the death of fiat is what I'm looking at.

Once a few assets are in the bag and assuming BTC is still sound in technical terms, my preference would be to keep the majority of my net worth in BTC and only pull bits out if it becomes absolutely necessary. It doesn't need to have taken over the world for that to be a viable option.

If I did have a vast pile to extract now, which I don't, I still wouldn't do it beyond immediate purchases. I'm so hopelessly perverted by it by now that I don't think any other option gets my old boner rising any more.

Thanks, that's exactly something I'm looking for! 

I loan now.
No need to buy when things are so expensive ... and Bitcoin value evolve more quickly than ... leasing cost.

From your saying, if we have to live without fiat, Bitcoin has to reach a certain level of adoption around the world, making able to just live with Bitcoin, and the market cap has to grow at least few times larger to be able to stable the price, of course, I want that to happen, we'll all popping champagne on private cruise, but it's not going to happen that fast, and many things could happen before it

Im not selling a single BTC unless I had so many millions of fiat that I could take the big chunk of BTC, sell it, and still have a big amount of BTC in cold storage. I have become used to having sovereign money that I can't live safe anymore without none of it. I will always need to hold some, you never know when things can go really wrong in the legacy banking system and then you will miss holding BTC.

My advice is whatever you do, always have a minimum of 21 BTC in cold storage, so you are always part of a small elite of less than 1 million people.

The longer it sticks around and the higher it gets the sillier an exit plan looks. When half the world's millionaire's won't be able to obtain one coin they'll look on old school holders as mentalists as they swap their precious coin for a load of inflating crap which they'll have to spend the rest of their days trying to protect from becoming worthless.

By all means mitigate some risk, but abandoning the thing that made you rich and having those proceeds slowly eaten alive looks like the reverse of what's sensible.

Exit plan is a must for all the bitcoin community. (The same for altcoins as well.)

It may undergo serious dumps and pumps but having a certain exit point is a must to realize the money you generated from it. For me, in 2025, I want it to be 50.000 dollars so that I can be rich.

I don't really have one. I'd vastly prefer to spend it directly on the stuff that I need rather than have to sell it.

If I were being sensible then once it had reached enough to buy a house and a modest amount to live on for the rest of my days by selling half then I suppose I'd have to do it. I certainly would not step out of it completely.

The idea of having to beat inflation to keep my living fund alive would make me feel like a right tosser.

There is promise in Bitcoin right now. Prices will be rising to continually set new ATHs for the next week or so in my opinion. In terms of saving, I'd say that since you've reached your target (or have come close), you've profited a fair amount. You should leave your investment in Bitcoin as is for the next few days and see how that may reflect the price fluctuations in the coming weeks. Make your judgement based on those numbers that you crank out.

Like SSS, I started with this spreadsheet and made some tweaks.

(SSS) - A Sane and Simple bitcoin Savings plan
https://bitcointalksearch.org/topic/sss-a-sane-and-simple-bitcoin-savings-plan-345065

http://bitcoinsavingsplan.com/

etc.

My investment in Bitcoin has almost reached my target retirement fund amount, which I can put the money in some boring index fund to generate enough passive income for the rest of my life.
However, I don't want to sell all my Bitcoin at once, I'm a strong believer in Bitcoin, and think the future is bright, however, I must secure my profit as well, btw, I'm invested about 99% of my wealth in Bitcoin.

One exit plan that I came up was:
Sell 10% of my BTC once it hit my target amount, sell 20% on next year, 30%... and so on.

Illustrate: If I have 100BTC, sell 10BTC first year, sell 18BTC (20% of the 90BTC) next year...etc.

This exit plan still gives a lot of weight in Bitcoin, which means I'm still going to have a high-risk portfolio for next few years, the pros are, I believe Bitcoin value can multiply.


So what'll be your exit plan if you've had enough Bitcoin to live the rest of your life?