Somewhere, jonoiv is smoking a crack pipe, still waiting for $2,000 so he can buy back in.
We’ve had many pairs of resident weak hands lose it all with a moment of indecision/panic. mindrust was the latest, use them as motivation to not follow their cowardly ways.
HODL = WINNING
Ok. now you are causing me to become too emotional, LFC!!!!!!!!!!!!
CCCCCCCIIIIIITTTTTTTTEEEEEEEE!!!!!!!!!I love it how there are several of us who love to beat up on those who sell too much too early... and of course, I feel a bit more sorry about mindrust as compared to some of the others because he was kind of trying to be a bit less arrogant about his having had sold too much too early, but even more recently he has been bashing on bitcoin in a kind of talking his book way.. with a kind of seemingly uncontrollable desire that BTC prices go down to prove his previous self to have been right in having had sold.. .and I kind of feel that attempting to justify oneself (even if subconscious) is an emotion that people are going to not be able to control when they end up selling too much too soon and then not figuring out a reasonable loss mitigation plan that puts them back into the BTC game in a material and substantial way that causes them to stop wishing their little hearts out for down...
If some of these kinds of people used to have some solid feelings about bitcoin fundamentals (or at least had seemed to have been informed feelings about bitcoin), somehow they lose those ideas about BTC fundamentals when they sell too much too soon...
That might be part of the reason why I suggest that no one, even us "bulltards," sell all of our BTC... We should always keep some bitcoin in order that we do not lose our perspectives on fundamentals and our desire for UP and thereafter begin to bet upon down too muchie.
Sure, there might be a point that you know almost certainly that the BTC prices are going to drop, but I am still thinking that even under those kinds of blow off top scenarios, each of us should still attempt to keep a certain quantity of BTC... even maybe 10% or 20%, even though any of us could have strong feelings that those BTC are going to lose value, in the short term because of the likely blow off top situation.. and sometimes we kind of know it when we see it.
Of course, none of us can tell others how to think, give them financial advice nor lecture about how committed that other people should be in regards to BTC fundamentals, and I do agree that end of life or even really BIG-ass unexpected emergencies can justify selling some BTC that might even fall into a too much too soon scenario because sometimes some of us might have to sell some BTC at a time that is NOT of our choosing.
I would suggest anyone, kind of looking at a certain other member, if you end up DCAing back into bitcoin, to make sure that you are either NOT investing too much into bitcoin, but that maybe if your cashflow and your emergency funds are not adequately buttressed, that you can still withdraw portions of your BTC value on the way up in order that you can feel that you have a decent amount of emergency funds so that you try to avoid, as much as you can, from selling BTC at a time that is NOT at your own choosing.
Surely, I do not know the specifics of any particular member except for what they disclose and what can be reasonably inferred (and probably that is a good thing), but there may have been circumstances that really caused no ability to hang onto some BTC... and so in that regard, I am trying to suggest that each of us should remain cognizant of the realities of life, our cashflow projected out several months and emergencies and to really strive to prepare ourselves with a sufficient and adequate emergency cushion so that if we have to dip into BTC as an emergency fund (after we exhausted all other quasi-liquid sources), we are then only dipping into a portion of our BTC fund rather than having to sell the whole thing at a time that is not of our choosing.
So, yeah, part of the preparation for those ensuring those emergency funds does mean either skimming off a bit of profits when the BTC price goes up, or alternatively, lessen your DCA amount when the BTC price goes shooting up (within reason) in order to preserve some of those funds for your emergency fund or to buy BTC on dips rather than buying too much on the way up without making sure that you have both an emergency fund and you are also cognizant of your regular cashflow projected out several months and frequently it is good to project out even longer such as 18 months or longer and how that can dry up or shrink completely under weird-ass circumstances (such as a world wide pandemic that happens to be far from over yet.. in spite of the little island of new zealand.. and maybe even some other countries, celebrating no new cases.. while many other parts of the world have far from gotten the thingie-ma-jiggie into any kind of semblance of under control).
O.k. I am settling down, now...
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