I'm pretty much like OP. I still have coins that I got in 2015 and sold maybe 20% of my holdings between 2017 and 2021. I haven't sold anything for almost a year and if bitcoin never goes above 30k again, I don't think that I'll sell anything. I'm not saying that I won't do it for sure because if I find myself dying and in need of expensive medicine or procedure, I'll sell some. You can't make any money if you're dead.

My plan that I've followed for the last 8 years remains the same. When bitcoin is above the ath from last cycle I start spending my coins buying the things that I need and building up my cash reserve. Each time bitcoin breaks a significant round level above the last ATH I repeat the process, but that's never more than 10% of my coins each cycle, which is why I still have most of what I got in 2015 and 16.

I'm not a trader. Holding coins on exchanges always felt risky to me which is why I only send the money I'm willing to convert and do it right away.

People have different goals in life. Some want to make the most fiat money out of their bitcoin in the shortest amount of time but others want to hold bitcoin as a safe alternative that also appreciates in value. I could sell a few coins and buy a lambo, but I don't need it. I live in an area where you need a good pickup truck with 4x4 and not a sports car. I don't need designer clothes or my own swimming pool. I feel better and more confident holding bitcoin than spending it.

I don't agree here and you've actually contradicted the first part of your post with the second one. If according to you less liquidity means more volatility and more volatility means lower price then the amount of coins on exchanges does matter.

I'll add that less coins on exchanges is always good. Think of it like this:
More coins available for sale > bigger sell walls > more fiat needed to break into higher prices
Less coins > much easier and more frequent short squeezes > higher possibility of price manipulation but also higher and more frequent pumps, wider price ranges.

IMO more coins outside exchanges is good because it suggest more people self custody and as a result less coins being possibly lost or stolen. It's also better for traders because they're the ones that love volatility. I'm not a trader and I don't care if the price range is wider and btc goes up and down by 100% in a year. I've seen it in 2017, 18 and 19 and was fine with it. I kind of miss it now.

What is cheating? Many casinos think counting cards is cheating, but to me that's employing your superhuman abilities. If you can do it then why not try it out? It's like woman's charm. They use it to get what they want, so if you can count cards you're better than 99% of players - use it.

I don't cheat which doesn't mean I don't want to. There's literally no good and safe way to do it, eventually you'll get caught or lose a game despite cheating.
It can also be really dangerous if you do that at a wrong place. They may not want to call the cops and beat you up instead.


Did you get triggered by OP?

So much hate, so much name calling, even some transgender implications towards a person without any transgender characteristics.
I'm sorry that your special operation isn't going according to plan and you have to resort to this in a forum where most people laugh at Russian war efforts.

Ok, I admit it, I was joking, I'm not sorry.

https://www.youtube.com/watch?v=tFlqI3KYiIU

Because he's doing charity, like SBF 


Jokes aside, if OP takes even 15% from his planned 30, nobody is going to send money to him. You can test that out if you want OP. go to children at the playground, pick 3 kids and tell them that if each of them gives you $1 you'll pick a winner and give him $2 and they'll see right through you. They'll ask what will happen to that $1 that they give you.

It's funny but this is how most charity funds operate. They sometimes take more than 50% of all raised funds for themselves as "operational costs".

You can't destroy decentralized crypto space via a centralized exchange!
You only can "destroy" cryptocurrency holders who are dumb enough to trust you, but isn't this how everything in this world works?

Imagine that you have a house and you rent it out and the person who you trust with the keys is a thief who rips the cables and pipes from the walls to sell them later as scrap? You may get the police to catch the thief but when they do you find that he has nothing. He bought drugs with the money and got wasted and there's no way to get any money from him. Sam is a thief who wasted all the money and this doesn't change anything for millions of bitcoin users who had their coins elsewhere. The crypto space is not going to be destroyed because some retirement fund manager was dumb enough to hold coins on FTX or because Kevin O'leary shilled for them.

You never know if it's your lucky day until after you make the decision, so I wouldn't call the bet going wrong in this case. A win is a win, no matter if you win 100 or 1000 and taking 100 home is better than losing it, hoping that it could be more.

It's always a matter of perspective whether this is already big money for you. Like if you bet $5 and win $5, but if you get the last game it gets to $20, you can as well keep playing. If it's a big win like $1k but could be $3k if you get lucky, I'd withdraw 1k and call myself lucky.

First of all we should put a line between bitcoin and crypto. Some altcoins are on the way to destruction as are some centralized businesses but the example of FTX is only another proof that putting everything in the hands of one person works until it doesn't. How many more exchanges have to fail with ceos being greedy and running away with the money before people learn to self custody? How many altcoins have to fail before we learn that bitcoin is the king?

Almost impossible in a normal casino because in this scene a number of factors came into play. All the little things that never go as planned went like that. For instance, the casino employees not saying anything about the funds being moved when the one that placed the bet did not watch. Usually when you bet they confirm it by saying something like all bets are closed now and you know if you're participating. From that point you cannot move the chips and if they see you messing around they'll tell say it loud.
What I'd do? Probably tell my friends that they owe me now and moved on. They messed with my win they have to pay me back somehow. I wouldn't want the money but they'd be paying for alcohol that night, or would have to drive me home, something like that. I wouldn't let it slide, that's for sure

You don't make mistakes like that with such amounts of money. This gets checked 10 times before the button is pressed.
I feel like all these exchanges play around with customers' money and if asked to deliver 100% of it they'd repeat SBF's statement "sorry, we fucked up". What's keeping them alive is the fact that there's rarely a real bank run in crypto. FTX would've been with us if not for CZ and his token selloff that spooked other token holders, created a bank run and exposed FTX.

Whatever happens, bitcoin will not be affected much. If idiots get scared and panic sell many people will be there to buy what they're throwing away for free. After all 90% of stock investors lose money and usually it's not because the companies go bankrupt but because they can't handle the pressure.

It's often the stores that take advantage of you by increasing the prices a month or two before Black Friday and then lowering it on the last day calling it a great deal and a 20% discount or something like that when in reality it's maybe 2% discount.

I'd like if the casino where I play offered me a bonus but I won't stop playing there if the don't and I won't spend too much time looking for such deals. I value my time too much.

I don't see a problem with dividing a million dollars into 10x 100k and doing DCA with these small parts like putting in 100k now and if it goes down another 100k and so on. Given that it explodes in January and you find yourself with only 100k in, just stay out with the rest and wait it out. Worst case scenario in OP's case. bitcoin either goes to a new high and he'll have only 6 bitcoins and best case scenario it keeps going down for another 6-12 months and ends up with over 100 bitcoins and then the bull market begins.

I've been ready for a situation like that since Gox and I wouldn't even flinch. I have 0 coins on exchanges and when I want to make a trade it's almost instant deposit > trade > withdrawal. I rarely keep my coins on exchange for more than 6 hours and I recommend you learn to do the same. Sure I pay some fees moving money around but I haven't sold anything for months because I only accumulate in bear market so next time I deposit anything bitcoin will be above $30k. I can afford some fees by then.

I'll give you something to think about OP.

You buy a car for 100k USD and a year later it's still in perfect condition. Someone offers you 60k for it, you decline. They say you shouldn't because he saw a few of those used cars listed for 60k, but you know the value of your car and won't sell it for cheap. Some years later someone else sees that car in great condition and offers you 120k saying they don't make them anymore and he was looking for that exact model because he used to drive it but crashed and the market price now is above 100k for a used one.

That's what it means to own bitcoin. Nobody forces you to panic sell because some other people are now selling. Nobody forces you to buy when others are buying. Eventually bitcoin will trade for more than it's trading today. IMO it may not be the future of money but it's the future store of value, digital gold.

I also used to live with a girlfriend, now wife and we have a daughter. I can tell you how things are at my place and who we manage.
I go shopping once every 2 days because I drive next to a grocery store almost every day and there's also a parcel locker at the car park, so it's a convenient place to go.
Every time I go shopping I think of meals. Given that I want to make spaghetti, I buy noodles and sauce. I don't buy things I think I could eat without having a full dish in mind. The downside of this method is we don't have more than 3 days of food at the house, unless you count dry, frozen, or cans. When I know I can't eat something before it goes bad I freeze it. It's especially useful when you make soups.

It's a good answer. We have the right to privacy. Imagine a doctor asking if you need privacy because he could just tell everyone in the waiting room what you came for.
My friends and my wife know that I gamble from time to time and that's it. I don't want my neighbors to know, I don't want people on my social media to know, I don't want my parents to know. I'm not ashamed just don't want anybody preaching to me or looking at me like I'm an addict which I'm not.

By the number of companies connected with them you can easily see how much money they were wasting. You could come to them and say hey' I have a new defi project I want to sell you a stake in my business and you'd get it either in the form of their worthless token or a stable coin that they bought with clients money.
Poor people were depositing their bitcoin there and playing around with positive balance on exchange not knowing that their BTC is long gone because the company barely held anything. You gave them real money and you were getting an IOU and the money was gone into another branch, shell company, investment, sent to Alameda to be leveraged there.

I feel sad that this is impacting bitcoin and some idiot journalists will now say "a bitcoin company went bankrupt, people wanted bitcoin and they got scammed" while it had nothing to do with bitcoin. Bitcoin should be out of this shitstorm as Sam and his company never wanted anything good for BTC. All they wanted to do was pushing defi and their fractional reserve token into the mainstream.

This is going to come to light eventually but I can bet you they were spending some of those "lost" billions on lobbying and bribing in Washington and that's why they're insolvent now.

Makes me wonder how many suicides this will lead to, like when Koreans were killing themselves over LUNA.

Sam promised to keep their money safe and now it's all gone, not because someone hacked the exchange, not because of their mistakes, but due to deliberate actions sanctioned by the FTX board.
Let's be clear, this wasn't a mistake like in case of the Bitfinex hack. This was more similar to what Mark Karpeles was doing when he was spending company funds on hookers and his Tokyo apartment, while lying to people that the exchange was in good shape.

Ross got life for running a marketplace and Sam is going to get a fine for losing a few billion. Worst case scenario he'll get 12 months or a house arrest. "Law and order"

I bet that people won't learn anything from this. When I see someone claiming that it's better to hold coins on exchange because it allows for easy access I'm going to practice hate speech

Some regulation in the field of stable coins and exchange tokens wouldn't be a bad thing. At least it would make them disclose how much of it is backed because it's obvious that none of them are.

I've never considered buying exchange tokens because you're investing in a third layer of the system with the first being bitcoin, which leads the market, second being an exchange that issues the token, and the third being the token itself that may or may not be backed.
When you buy bitcoin, you take a risk that it could technically fail, because market manipulation isn't really a risk here unless when you're a trader.
When you hold that bitcoin on exchange, you take additional risk that the exchange could not return your coins for whatever reason, like insolvency, AML, local laws, hack, even technical problems.
In case of an exchange token, you take all the above risk plus the one that the token itself brings to the mix. For instance, the token itself could be banned in some countries, while the exchange is allowed to operate.

I consider 100k EUR a life changing amount. It's enough to start a business or buy your own apartment. It's enough to get any education you want including pilot courses and such. 100k allows you to do what you want, with some limits, but we all have our small goals like we want to own a car, or a motorcycle, or a motor boat, or our own place, maybe have our own gym or a fitness studio, a workshop, have enough money to raise a child or travel around the world. Just 100k EUR allows you to do it. 1m is even better if you have that much, I don't think I'll ever have a million EUR at hand, especially not with what's going on with cryptocurrencies today.