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So i see we still have few masochists supporting coinbase
Is that a clip of Bob? Or some cheap imitator?
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Yes, agreed on all points! I had bought BTC since about 2014 - 2015 (will have to check and remember this once and for all, LOL), and HEDL until I started trimming as BTC spiked in 2017. Sold some here, some there. As low as $9000, highest sales were at $15,000 (all numbers approximate). One sale around $15,000 was after the tippy-top (which I missed), but that's OK. Nice profit, properly declared to the IRS and CapGains tax paid. I still have "enough" BTC to be over 1% of my net.
Holy whoaza!!!!!
That surely does not seem to be a very profitable approach.
It seems to be NOT very aggressive in terms of "investing in" BTC, and it seems way too eager to take profits in dollars. Maybe there are ways to make it work, but surely it seems to be a conservative approach, and one that I largely rejected to employ - because it plays too much into the idea of reallocating on a regular basis and failing/refusing the concept of letting your winners ride.
After some internal hemming and hawing about what I was going to do exactly, and even trying to figure out my goals in respect to BTC, I ended up settling on an initial allocation target into BTC that was aimed at 10%, and maybe I have some lack of discipline because I did not stick specifically with keeping my allocation into BTC at 10%. I largely reached such target in late 2014 - and at that point, my average buy in price into BTC was a bit over $550 per BTC - but the then BTC price continued to drop throughout the end of 2014 and into 2015 and largely stayed in the mid $200s for the vast majority of 2015.
Admittedly, I had some cashflow issues in early 2015 until about May 2015, yet I did continue to buy BTC during 2015, and before the BTC price got out of the $200s, my portfolio allocation in BTC had largely reached around 13% or 14%, so I had exceeded my own original authorization and target of 10%.
As BTC prices largely gravitated UPpity in 2016 and into 2017, somewhere along the line, I reconsidered the amount of BTC that I would sell on the way UP. Originally, I had projected BTC selling plans that skimmed off pretty large chunks of BTC that would have caused me to sell 20% to 30% of my stash if the BTC price went up to something like $20k or greater (which were like longer term projections that were not really anticipated to happen in the shorter term), but as the BTC price continued to go up, I rejiggered my plans in such a way that caused me to sell way less of my BTC, so by the time we got up to $19,666-ish, I had ended up selling around 12% - or at least that is what my cash to BTC ratio had shown... but anyhow, my networth became quite lopsided in terms of BTC in the supra 90% levels - yet I decided to just let the matter ride - and I don't have any regrets about that.
But, hey each of us is going to come to differing assessments regarding these kinds of matters, and currently as I type, my BTC proportion is around 75% - and for some strange reason, I feel little to no inclination to bring it down to 10%-ish in terms of where I had originally authorized myself to allocate and to invest in that proportion.
Furthermore, I still recommend newbies to target anywhere between 1% to 10% of their investment portfolio to be allocated to BTC.. and I don't find any conflict or contradiction in that kind of a starting off recommendation - either, and of course, individuals may well come to their own conclusions regarding how they would adapt such recommendation to their own situation, including considering whether they would go outside of such range - either lower or higher or some amount that is based upon their own assessment of their own personal situation.
And I too have heard about how "lucky" I have been. And part of that is likely true! But your main point is that we who believed that BTC had a great future. The 2018 - 2020 bear market was brutal, and tested our patience and resolve.
Personally, I feel kind of lucky to have both recognized BTC as a decent investment and also to have acted upon my assessment of the situation.. and also lucky that the BTC price has largely cooperated - even if there had been a few seemingly long slumps along the way.
Edit: Looks like Jimbo said it first. Go figure.
Someone (Mark Twain?) once said "Sure I'm lucky and the harder I work the luckier I get".
Hodling sure is hard work.
Also, I will likely trim a bit of my HODLings if we go up more, say, to $15,000 again. Probably some more at +/-$25k. More at $40k. What would I do with the proceeds? Au & Pt
But I will NEVER sell all my Bitcoin, even if over a $150,000 price...
Finally, fuck yeah!
Your allocation to bitcoin seems a bit whimpy for someone who has studied the space, and sure could be a bit of a problem to be so distracted by shiny metals, even if you are not so negative on bitcoin as peter schiff...
Poll
