I really hope the major didn't really sell all of his stash at $4K-
The other day I stumbled upon one of the last posts of bones261 in another thread. It seems that he sold too. Not that he had a huge stash, but still.
I wonder how many other good people we will be losing along this bumpy journey. Will never understand why people go ALL-OUT. Why not hodl even a little stash just in case... even if you lost faith?
I think that it boils down to over-investing on hype, and not having a plan to either continue to buy all the way down or merely approach from a more reasonable dollar cost averaging approach - and none of them can be get rich quick schemes, because even the best case scenarios, it will usually take a decently long time to get rich (doesn't come quick).
When I see the first pages of this very same thread I see a lot of nicks that are no longer here. It is easy to notice because there are almost no hats. IIRC jojo is the first one that appears. I have always though that most of them already reached their targets and are now too busy spending their fortune while still hodling a good chunk of BTC... Maybe reality is much uglier than that.
HODL.
How the hell are you going to get rich, if you cannot defer gratification? There were guys showing off what they bought because they got a 3x return on a few thousand dollar investment... So, yeah, they get a nice toy for $10k when they cashed out at $700 or maybe they sold at $3k on the way up the first time around... Either way, there is NOT an attempt to employ a long enough time horizon...
And, seems to me that guys who are cashing out some value in the 4-6 year range, but only cashing out those older coins, are going to do much better.
I do understand that sometimes there can be some luck too... I mean, buying in the $250s to $600s and ending up with an average of $400 coins, and then cashing out a portion of them at $13k feels pretty damned good, in the event that you still have some coins, so you are prepared for more up, even if you are not sure about whether MOAR up is going to come.
In the end, NOT easy to HODL through so much of these difficult times and even long periods of consolidation... remember ONLY a few days of the year are UP days, and sometimes it is difficult to be in those UP days unless you are just IN all of the time..
I really hope the major didn't really sell all of his stash at $4K-
The other day I stumbled upon one of the last posts of bones261 in another thread. It seems that he sold. Not that he had a huge stash, but still.
I wonder how many other good people we will be losing along this bumpy journey. Will never understand why people go ALL-OUT. Why not hodl even a little stash just in case... even if you lost faith?
When I see the first pages of this very same thread I see a lot of nicks that are no longer here. It is easy to notice because there are almost no hats. IIRC jojo is the first one that appears. I have always though that most of them already reached their targets and are now too busy spending their fortune while still hodling a good chunk of BTC... Maybe reality is much uglier than that.
HODL.
Thinking about going all out is so 2015. (especially when it is down 50%+ from its ATH) That was the year I was afraid of bitcoin crashing to zero and I had no coins at that time. I was all out.
After I witnessed the pump in 2017, I realized that bitcoin cannot go to zero even if it wanted to. (What...You thought bitcoin wasn't a living organism?)
People just won't let it happen. (It is certainly not dying.)
I totally agree. I went almost all out in 2015 when I bought my Ducati for 30 BTC.
Now, not so much. on thursday I actually have an appointment with the bank to discuss "selling my house for bitcoin". That is, taking out a second mortgage on the huge surplus value of my house, reorganising my debts and then hopefully ending up with a sizeable amount to increase my stash. I mean, the money is free man, 1.55% is less then inflation....
hahahahahaha
You, julian071, are exactly one of the examples that I thought of when I was writing my above response.. a kind of bragging when the price went up and taking some profits... way too much and too early.
Regarding leveraging your house, that is very risky, and yeah, it worked out for Elwar, but he completely sold his house, instead of mortgaging it... so a very risky proposition, that is for sure.. and definitely a need to make sure that your cashflow is covered in the even that BTC prices do not go shooting up.
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