Is there anyone here holding XMR that wants to follow the plan?
I skipped a few doublings and have been holding everything until very recently, but I was forced to sell a small percentage.
The way I want to approach it is to keep an eye on the development of the tech, the price and the overall market sentiment.
Monero has some cool development coming up and the possibility of being added to Ledger and Coinbase. Once we have those I don't think there's much to stop it from taking over a significant part of the ecommerce market.
I didn't think the whole crypto market would go up so quickly though and it's making me nervous that a crash will come that will drag Monero down for a while as well.
Is taking out a % at each doubling the optimal thing to do? Would a diminishing percentage increase be better considering the price may follow an adoption curve?
So as a rough example.
1. Take out 10% when it's increased 100%
2. Take out 10% when it's increased 75% again
3. Take out 10% when it's increased 50% again
etc.
Also, do you think it would be better to cash out large sums in a short period of time (market value allowing) or to take out a little bit over a period of time, so Dollar Cost Averaging out.
I'm interested to see what people think.
I think that you have the right ideas; however, I also think that you are sounding like you are a bit over invested in Monero because you have not taken out any. I think that these SSS principles can apply to any Crypto that you believe long term has exponential upside value, and you seem to feel that way about Monero. So fine.
You seem to certainly be on the right track in your thinking to customize your SSS to your own situation; however, your problem seems to be that you have not implemented your plan (or some variation of it).
Personally, I have found, with bitcoin, that it has been very good for me to cash out a bit more than 1% of my bitcoin for every 10% that bitcoin prices rise, and then I use some of those cashed out proceeds to buy bitcoin back on dips.
Surely, the exact terms of my plan is NOT exactly how the SSS plan suggests; however, it does kind of have a similar formula that could achieve nearly a 10% cashing out of my BTC if the BTC price were to go straight up by 100%.
Also, I feel good about my own variation of the plan, and I feel that it is achieving, for me, some of the same objectives of the SSS plan in terms of my ability to rake out some of my money, to spend some of that money on my own personal matters, use some of that money to buy back BTC (even though the SSS plan does not seem to recommend that), and not to feel like I am way too overinvested in bitcoin as the price goes up.
It seems to me that cashing out some value can be like an insurance policy in terms of partially protecting myself from some of the downside volatility - not complete protection from downside volatily, but decent protection, depending upon how you tailor your plan in terms of your own finances, risk profile, timeline and views of whichever asset you are using it on.
By the way, I also did a decent amount of tweaking of my own cashing out system because I started selling small amounts of my bitcoin at around $250 in conformity with the terms of my own variation of an SSS plan that I had created. However, as BTC prices went up, and really we ended up getting about a 78x price appreciation at $19,666 (so far), yet even though I have been selling BTC all along and buying back for all of this time, I still have about 91% of my value in BTC and 9% in fiat that is available and in my BTC investment fund.
Even though some folks might consider that I am way too overly invested in BTC, the 9% in fiat feels sufficiently fine for me and my views of the situation in terms of my ability to spend that money if I want, and for me, it remains a sufficiently high quantity of money, and part of that considerable value does have to do with such exorbitant (and a bit beyond expectations) price performance of BTC.
Funny enough, with the 9% of fiat that I have, I do have BTC buy orders that are already set for a possible BTC crash down to $3k (that would be about a 85% crash down from $19,666), and currently it is set up that my buyback orders would only be using about 2/3 of my 9% funds, so I still have nearly 1/3 of the total current funds as discretionary money that I can from time to time use at my own discretion, such as buying a phone, a computer or a car, for example... hahahahaha Of course, cashing out more could be beneficial too, but I feel that what I have tailored is good for me - and might not work as well for some other folks and their situations.
