Bitcoin Forum

Have you ever considered getting out of bitcoin in case of, for whatever reason, flactuate or plummet?

Yes, sometimes, it is better to be sure than sorry though. Although I don't think that Bitcoin may come to that part.

It is always better to book your profits whatever you
are comfortable with. Don't let greed in the way.

or you can take out your initial seed money and then
let it ride for more profits.

Although I regret it, I am still grateful that I did save some money.
So there is like a half-half regret and thankful.
I already bought items that I could not afford before with the use of cashing out a part of my bitcoin savings.
I think that is already an escape route. Complete the items in your house or get something else where there will be profit for sure.
You cannot rely all with just profits from this investment.

of course. worst case. I have withdrawn an amount equal to the capital I have invested in bitcoin. if bitcoin dies. I will not lose anything

When I decided to choose bitcoin. I do not think bitcoin can be knocked down, so I have absolutely no escape plan. That was my thought

Already am selling all Bitcoin I have for fiat. I have 5 Bitcoin in storage right now, 1 on an exchange and 4 on my Ledger wallet. This is more than enough, in my opinion, to keep in a volatile currentcy like Bitcoin. The rest, I'm just sitting on and hoping to keep safe from the volatility.

I mean, sadly enough I have already made my exit plans and I really missed the big opportunity to make money. But what can you do, that's what's expected to happen when it comes to Bitcoin. Though I do help that the people that are heavily invested into Bitcoin have thought about the amount of risk that they're exposing themselves to right now. They should make some ample plans to sell if Bitcoin sells a certain percentage.

It will crash, soon enough.

Every thing in life need it escape plain. And is also known as plan B.  Like wise to in the business plan, and for it not to fall. and Secondly in cryptocurrencies wallet, has a private key and it need to save a copy kay someone as your escape plan, even your device get missing,  and with your back up, wallet we restore back, and never loss the wallet, and you have escape it at the moment. Finally, Escape plan help mostly foreign exchange, when you plan with analysis and know when to buy or sell, with your good plan it work successful.   

My tiny portfolio is diversified into alts as it is. In any event, no exit plans from crypto as a whole.

I'd certainly diversify outside crypto if I had more assets.

Ever since I knew bitcoin, I had never thought of getting out of bitcoin, because I was already convinced that bitcoin is a bright future where I have understood every risk and gain from bitcoin so I must always be prepared for the risks I am going to

No, I don't. Most of my money is in cryptocurrencies with like 80% of in BTC alone. Looks bad, like an all-in? It is not. I have made all of this money by investing in cryptocurrencies 3 years ago and since then I've withdrawn the initial investment and then some. I don't believe cryptos can all turn into nothing just like that. If they start to fail it will be a long and slow process and I'm not greedy. I could get out now with only 20% of today's value and still be happy with the results. It's free money to me.

So far I feel pretty comfortable with running the activities in bitcoin, the advantages I've gotten from bitcoin and I will not get out of activity that has helped me a lot to generate better income and economic change.

No escape plan, not yet, even though I read that some sites are starting to give up the possibility to be paid in bitcoins because of high transaction fees and instability, Anyway, at the moment the bitcoin is a sort of collectible, makes more sense to keep it.

The fluctuatility of Bitcoin is a big warning and a sign of a drop.
So everyone need to have an escape plan of a plan B ... Maybe if you have some dollars it is not important for you but if you have a big amount of Bitcoin or any other cryptocurrency you better have a backup so you can limit your loss.
I think that the best strategy is to devide your money on different crypto so you can benefit from any rise.

No. There are portions of my bitcoins that will used in various purposes e.g spending purposes, diversifying into alts purposes and for holding purposes.

Bitcoin is not like other alts wherein more proned to manipulation so getting out is not a wise thing to do even it will experienced a crash especially that the expected trend as bitcoin is progressing is really going upwards. We have lots of reasons to believe why we shouldn't get out unless you are taking profits. Although past performance can't guarantee future results, just look at how bitcoin able to passed all FUDS including the big one and now currently sitting at the surprising price level. It's really up to person if getting out is part of their strategy.

Escape plan is definitely must for any type of risky investment buy in case of bit coins definitely lot of opportunities for taking out the principal amount were present and just investing with the profit made.

Hi there jumpercrypto! You got a nice question there, I just think of it the moment I saw your post. Currently I have no escape plan when things go to worst. I think it is because my faith in bitcoin is so concrete enough that failing is just like thinking an Armageddon will happen. But you are correct, due to several speculation, and even some expert says bitcoin is definitely in bubble, one should be aware to secure their investments. I think, the best way to do is to sell all your initial investments and retain the incomes.  ;)
 

Seems you believe bitcoin enough for not having an escape plan, and that's good but better to secure our future than felt sorry later on.
Well I'm sitting now for having bitcoin but as the recent pump I sold some of it and convert it to fiat then deposited in my bank account, this is to ensure I can still live decently when shit happens. Also I keep safe some alts in my portfolio to diversify my investments.

At present I have no escape arrange for when things go to most noticeably awful. I think it is on account of my confidence in bitcoin is so sufficiently solid that falling flat is much the same as speculation as dooms day will happen. Be that as it may, you are right, because of a few hypothesis, and even some experts says (JP Morgan hits again) bitcoin is certainly in bubble, one ought to know to secure their ventures. I think, the most ideal approach to do is to offer all your underlying ventures and hold on.

No,I don't have any because I invested the amount that can be affordable to lose for me.I invested on some altcoins too so it will give me good profits in the future if the bitcoin fails.But I have full trust on bitcoin and surely the price will get up soon.
For the people who think bitcoin will end up soon,get back to the history people talking like the same when the price was around $50 but now it climbed up to $15K.

It’s possible. Thats why Im not investing all my money in bitcoin alone, as much as possible in different currencies.

no, because before plunging into the world of crypto I have considered everything including loss and other risks
I am ready for everything that will happen, I just need to be careful to minimize all the risks that are not in want

Escape from Bitcoin means that escape from heaven. I don't know why people afraid about bitcoin after all that happen, people who takes hasty step to get out of bitcoin will regret it after bitcoin goes through all the obstacles. Bitcoin always passed all the obstacles. If people think that altcoin is better then why they are convert their profit from investing in altcoin into bitcoin?. We can't ignore that bitcoin is the king of cryptocurrency.

I have considered this matters. Well for me, since I only get bitcoin from my work here in this forum, I think the best escape for me is to find another kind of investment in real life. And I'm thinking about making a real life businesses from bitcoin profit, like making a net café, or a café, or a bakery.
But I doubt that bitcoin will crumble, as it is gain more stability right now, and more vendor or big company accept bitcoin (or cryptocurrency in general like Facebook's boss plan on joining Cryptocurrency world) although the price goes down a little recently.

My escape plan is to divest into other coins which I have done during the past 18 months already, I have also cashed some of those additional profits out into FIAT and have invested them into some property. I still have some left in Bitcoin and other coins but I can bow say I have the house that crypto built. Alround very happy with the past 2 years.

Damn! Superb stuff man! Bitcoin helped you build your own house which is one of my dreams and I am confident that I can achieve what you have achieved in the near future. You made a smart move saving some bitcoins and other altcoins since I am confident that bitcoin will continue rising in value over time and might reach $40k by the end of this year.

Coming to the question posted by op, I don't have any particular escape plan if bitcoin falls. I am in this for the long run which is why I will be HODLING my coins for a long time until I can earn considerable profits.

I did thought about it sometimes at my early stage in bitcoin career because I still don't fully trust cryptocurrencies back then and I really don't know much about it. So whenever I earned a decent amount of bitcoin, I always play it safe and withdraw some of it. But now, after some time in the forum, I've gained and learned a lot of knowledge about cryptos, so I'm pretty much confident in my bitcoin decision now.

Of course.  Simply cash in and keep on strolling... whistlin' a song about change...

I had time to think so, but after I think again I undo the intention
where else can we get the money so easily, if not in bitcoin world, whereas before I was just a tailor indeterminate wages

Yes,of course i do have escape plan.  But I've think not now because i'm still enjoying this moment with bitcoin.