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I was blown away by a couple of bitcoin ideas (in addition to no third party control, etc.):
1. Emission curve
2. The fact that you can convert electricity into something that is essentially, money (or at least immediately convertible good), and it appeared to be legal.
Hodling idea came at least a year or two later.
I noticed that you are still NOT completely convinced about the bitcoin HODL theory, Biodom, especially when you share some angles of your correlation speculations, from time to time...
By the way, I am not even close to suggesting that you are anywhere near the level of a mindrust... unless you would like to disclose some of your previously undisclosed emotions about panic on or around our March 12 drop to $3,850? Were you tempted to sell some BTC around that time or not? Tell us. Spill your guts... do it ... do it...
Huh? No, not really tempted. I did sell some a couple of weeks later or so, nothing major-that was my small sacrifice to ya'll (hodlers of perpetuity).
Common Biodom.
Your detailed answer makes me feel a little badly about trolling you.
I will admit that I sold a bit more BTC than I probably should have subsequent to the price drop to $3,850, partly because I had bought all the way down to $4k, and then I felt that my fiat supply was running low, in the event that BTC prices were to test lower $3ks or lower, again. So I felt that I needed to prepare myself for that possibility (that has not materialized, so far), and even though I cannot recall the exact details off the top of my head, I outlined a plan in which I would sell a bit extra BTC when the BTC prices were going back up, which largely ended up filling those higher BTC sell orders between about $6k and $8k-ish... which were my insurance for possibly going back down to $3k or lower (which we can see has not yet happened, and my not happen, either).
I did sell some mid 2017, though, Vinny Lingham "influenced" me...I guess my hodl was not too strong back then.
Yeah. I recall that one. Vinny was making his rounds in the $1k arena, and saying that the BTC price was for sure going to drop below $500 (yeah, I said it), and he was saying that the BIG money had already sold.. and blah blah blah..
The price never went below $850, and only briefly. Lot's of people got screwed there. that was a round March 2017.
Used a half of proceeds to buy something that is not to be named, but it outperformed btc during 2017-2020, albeit I sold that "thing" as well a few weeks ago.
Well, at least that part worked out for you. There are not very many assets that would have outperformed BTC for that whole period.. even though there would have been several to outperform BTC on the way up, maybe until early 2018, but then they dropped harder, and many of them did not get BTC's 3.5x bump in April-June 2019.
Taking huge risks becomes more difficult with each passing year, so i don't take large % portfolio risks on anything anymore.
That has been my approach through my whole BTC investment, even though probably many people would have sold more BTC along the way than I did, too. Or reallocated their investment portfolio at some point, and I had just decided to continue to let my BTC largely ride.. even though I am not really too adverse if I need to sell a few extra BTC here or there because I am feeling a bit overallocated in BTC.
I had been hearing some pretty shitty forecast news in terms of some of my equities, and maybe if I was not already feeling somewhat over-allocated in my BTC, I would panic sell some of my equities, right now, rather than risk their losing a decent amount of their value, but who knows? I am thinking just to let my allocations ride as they are, and maybe it will take more than our projected expectations of 18 months for all of this to play out, including BTC, yet I kind of believe that if I am suffering in significant ways in the way that I am allocated, then other people are likely going to be suffering just as bad, if not worse.. and maybe we will have an actual revolutionary war that we have to contend with? aka the feared (but low probability event) Armageddon?
DCAing is definitely NOT my style, though. That said, taking profits never ruined anybody, AFAIK.
Some people engage in a variation of DCA, even though they refuse to call it DCA.. because they are buying on BIGGER swings and more spread apart rather than regularly.. and, maybe you are not doing DCA... and taking profits here or there can sometimes cause too much underperformance, so sure, investors are going to balance the extent to which they might take profits or allow some of their winners to continue to ride. Surely a discretionary approach, and maybe difficult to know scientifically if one approach might be better than another and maybe it takes 10 years or more for a plan to play out (or even a lifetime of building of a portfolio that might be sufficiently personally tailored and time based so difficult to replicate, even though sometimes we can concede that there might be places in our own plan that we could have performed better, when we attempt to look back at what choices we had in front of us and how we chose to allocate or reallocate).
Additionally, in prior years people were less ambivalent about spending btc on regular life items (as Jimbo and lightfoot show)
There seem to have been some changes in the thoughts about spending in recent times, and many jurisdictions are not really very friendly to small spending, either.
P.S. I lost almost all btc in 2017 hurricane Harvey flood. That was such a bummer.
I have some similar situation regarding heavy losses, but mine was not a hurricane, and I still am not sure how much tragedy has come to the life of my lil selfie or how to calculate it, exactly. bitcoin sucks.. one day hookers, lambos and blow, and the next day, pondering over an excel spreadsheet regarding how the life of my lil selfie could have been and other related accounting matters.
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