i simply cannot wrap my brain around this action among the seeming chaos of the scaling issue. to judge by the talk, we should, at best, be stable, not climbing. Yet here we are, record highs.
i really am kicking myself over those 10 coins i sold to my brother for $1000. total. :| at the time, that was the price... heck, i think i actually did it in my favor by a percent or two. argh.
and then there's the 15 or so coins i spent on games and other crap... ugh.
Nothing wrong with spending or selling..
But you are probably indicating that you spent or sold and then you did not replace --- gotta replace when spending.
Now, at these prices, hm? I might spend and replace just 2/3 of them.. but no matter what gotta consider what portion to replace... even if it is only 20%
You are probably overthinking here... My guesstimate is that Elwar only spent/sold around 1-3% of his holdings, maybe even less than that.
Are you referring to Arkian, rather than Elwar?
I am not referring to anyone in specific, instead I am referring to a practice of considering your replacement of coins that you spend. Of course if the price is high, and you spend, your replacement considerations are going to be different as compared to when the price is low.... but we do not always know if the price is high or if the price is low, so our replacement plan might be more aggressive or less aggressive depending on our own perception and views.
For example, I recall a couple of things that occurred with a person who I had been introducing to bitcoin from about upper $300s. If you recall the price was in the upper $300s in late 2014, and I was thinking that was pretty much the bottom, and I introduced several people to bitcoin, and a couple of people took me up on my suggestion, but got a bit frustrated when the price went down during 2015, and I recall that one person had paid me in bitcoin when the price was $228, and I told that person that she better replace her bitcoins, and even though she was disheartened about bitcoin, luckily she took my suggestion and replaced because the price never returned to that level.
Similar things can be true at any price, whether spending at $228 or $1000 or $1842 or any other price - when you spend your bitcoin, you should be considering your replacement plan.
For some reason I thought you were replying to the Elwar message, now I see I got confussed. Probably due to the emotion of watching the little pump
Anyway... What I meant is that if someone has already finished their accumulation process there is probably no reason to keep putting more eggs into the Bitcoin basket and, some spending is reasonable even if not "refilled".
I mean, lets say someone who has 500BTC, at current rate almost 1 million dollar, but doesn't have any other significant liquid holdings (fiat, stocks, etc). Well, diversification tells he shouldn't put more eggs into the Bitcoin basket. If it rises up, great, it's not that important that he spend some on the road, if it crashes... better he did spent some.
Also, as a person without much other significant holdings or excess income he wouldn't be able to increase significantly his current holding anyways (at current rates).
If someone is yet in the accumulation phase, then yes, he should probably replace if it is feasible for him, but that doesn't need to be done inmediately. Maybe in the next correction (even if it is higher than actual price).
Yes we can remember how things evolved in the past, what we did and what we could have done.... My first two BTC I bought them for 100Euro in total using paypal. I wish I had bought much more at that price but... that's nonsense, it's the same is if we wish to have bought a lottery ticket after knowing which number was the winner.
For me, I will probably stop completely my accumulation phase when Bitcoin grows to the point that it has the same total value as my liquid FIAT. Then I will probably also stop spending from my FIAT and start spending from my BTC. If that ever happens (maybe before 2020 if everything goes according to the plan). Also, if that happens, I expect my BTC to keep growing above my FIAT holding from that point on, even if spending from it (and not replacing anymore).
For that reasons, I can perfectly understand if someone in particular has already reached a point in which he is now better spending from BTC and not replacing it.
Notice how I say (moderately) spending from instead of selling/going all out.
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