Yo Bob! Maybe you'll be able to solve your cashing out dilemma soon? JJG's advice seems pretty spot on to me: little anxiety, no pain.
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I have JJG on ignore for reasons mostly dealing with maintaining my sanity. Did not read his opinion..... [partially edited out]
........Ok, went back and read JJG's post, looking through his post history... blah blah blah... Anyway, yes, he does make a solid case for cashing out in chunks over a period of time, but, I think the recent decision to not do anything next time we cross $10k, already having access to any liquidity I need for day-to-day living, and wait for mid-late 2020 closer to Ricks retirement will pay-off, should we decide we need a cash injection at that point. YOLO... and shit. Would rather HOLD longar, if I have a choice.
EDIT2: We had a recent hot-water heater issue/replacement/repair that ended up costing less than 1 BTC to resolve (and sheetrock repair after a slower water-leak was discovered two days later) that left me asking Jah and The FSM (RAmen. May his noodly appendage touch you all) if I was alright to handle any emergency expenditures. I hate doubting myself and the plans I've executed. Need to learn how to remain more calm. Damnit.
Pretty much I respond to substantive points, if they interest me, and/or if I believe that they might be decent talking points, including that some of the talking points are ones that a lot of readers of this thread (even active participants) might be going through, but they might not have presented some of their own personal details.
So, yeah, even if I might find some of your (Bob's) emotional swings to be a bit annoying, and surely I acknowledge that you do not necessarily read my posts (which is only quasi-relevant in my thinking), but the specificity that is presented through your own turmoils can often be quite helpful as a talking point for others because, even if you might conclude that some of the perceived tragedies are only happening to you, they are also happening with several other people, even if the amounts might differ or the causal factors likely vary, too.
So, whether you (Bob) read my responses or not, guys (and maybe gal) can also sometimes get confirmation that the practice that they follow is comparable to mine or differs from mine for reasons x, y or z, but it still possibly allows for a brainstorming over how to deal with what many of us have already determined to be nearly inevitable BTC volatility that sometimes goes in anticipated directions (over the long term), but over the shorter term can really cause considerable stress. Nonetheless, if we attempt to employ mechanisms to lessen our own psychological and/or financial stresses, then we can sometimes also both benefit from the volatility, and perhaps spend more time on some of the other areas of life that either bring us pleasure or that we have to deal with (which also can be taxing on both our psychology and our finances).
For sure, when guys (and gal) implement their own strategy(ies) to have both cash-on-hand and bitcoin that is staked in the game, they want to figure out what is comfortable for them in terms of their preparations for possible emergencies. And, yeah, of course, sometimes we know that some emergencies, such as your hot water heater issue, is almost inevitable to happen, even if we don't really know the specifics, so we either have to have cash on hand that can deal with those kinds of issues or be ready, willing and able to cash out whatever portion of our BTC stash in the event that we had chosen to keep our value in BTC rather than in dollars.
Several times, I had mentioned my own situation in November 2018. From about February/March 2018, I knew that sometime in late 2018, I was going to have some pretty BIG bills in dollars coming in to me, and I had thought that I had adequately prepared for such situation by holding a decent amount of fiat in reserve out of anticipation of my quasi-known expenses. However, when the actual bills came in, they sort of all came in at once in a way that was outside of my anticipation in that there were both cost overruns as well as some likely lack of preparation from myself in terms of how much fiat that I had kept on-hand to deal with such quasi-known expenses.
So, in some sense, I kind of failed (at least way the fuck underperformed in my own assessment) in following my own btc/dollar practices, and yeah, what timing that came with an additional 50% BTC price fall from supra $6ks to nearly $3k (that happened pretty quickly but started on about November 15), and I ended up having to cash out about 4-5% more of my BTC stash at an inopportune time in a BTC price range that was in the $3,800 to $4,200 arena. Over the next 4 months - between December and March, I was able to buy back some of those sold BTC (perhaps about 30-35%), but I have been still kind of kicking myself mentally regarding how I can learn from my own underperformance in terms of my already existing BTC strategies and the situation that was in front of me and how my kind of over-exposure and unrealized expectations (a kind of gamble that I did not sufficiently calculate that I was engaging in) that BTC prices would stay above $6k during the expected time in which I might have needed some additional cash.
By the way, when I cashed out my about 4-5% more BTC than I had wanted to, part of that cashing out was to prepare for the possibility that BTC prices might dip even lower, even considering extreme possibilities of as low as sub-$2k, so even though in mid-to-late November, I likely had enough cash on-hand to cover my then quasi-expected and overblown expenses, if I had spent all of my cash on those particular expenses, I would have been totally fucked if BTC prices had gone below $3k and even worse fucked if they had gone below $2k.. so I felt that I had to cash out the amount that I did for those eventualities (that as we know did not end up going below $3,122).
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