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Author Topic: You don't need A Bitcoin "Withdraw Strategy"...  (Read 693 times)
theonewhowaskazu (OP)
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November 16, 2013, 11:44:07 PM
 #1

You need a US Dollar "Withdraw Strategy."

I'm not joking. If you take too much USD off the table, you can be looking at huge slippage, your bank going nuts, and not having enough USD for day-to-day expenses. If you don't exchange enough USD to BTC, you'll lose most of its worth in BTC to BTC price increases.

Here's how my plan works:
Keep all of my paycheck in USD. The money I normally have allocated to long-term non-callable CDs & bonds, now is in Bitcoin. The money I normally use to get stock market exposure, is still sitting there. I've pooled all the rest of my US Dollars, including any excess from my paychecks, into my 'income fund', which is a group of dividend paying stocks & BBB bonds. All the dividends I receive from that pool are going straight into BTC. In an emergency, I can sell some of my stocks, or draw on my income fund, rather than having to dip into my BTC reserves.

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November 16, 2013, 11:53:06 PM
 #2

Mike Tyson — 'Everybody has a plan until they get punched in the face.'
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