Of course, there are some other ways to acquire BTC, such as getting paid for providing goods or services or mining.. but I am largely trying to focus in on the implicit suggestions of some of the various earlier posts that seem to be battling with where exactly selling fits into any bitcoin strategy, and surely I am trying to emphasize that if you have not yet reached your accumulation goals then selling with a hope of buying back lower remains a kind of gambling approach rather than a prudent approach...
Sure, on this particular point, philip, you and I seem to NOT be very far apart, and in the end, guys can do whatever they want, even though maybe both you and I will be suggesting them to be fools if they are regularly and ongoingly fucking around with selling some or any large portion of their BTC in order to attempt to buy back lower.
That's the dilemma even if you commit not to sell any large amount but a small to sell at "high" and buy back "low"... you don't know when this will happen....
No doubt that each of us has to find our own balance in this regard, and none of us are likely to come to exactly the same conclusion, even though there might be some closenesses when weighing all of the factors that each of us should be taking into account when both establishing our bitcoin strategy and then trying to follow something that achieves our balances in regards to each of the individual factors.. which again for reminder sake are: cashflow, other investments, view of bitcoin as compared with other investments, timeline, risk tolerance, and skills, time and abilities to plan, learn along the way and tweak in accordance with learning which may end up involving reallocating from time to time and even trading.
So yeah if you are fairly young, then the timeline aspect can screw you up in terms of establishing an accumulation goal but then having to figure out how much that you would actually need to pull the fuck you lever in order to sustain yourself which could be a quite daunting projection in terms of the number of years or even your earning power if you are ONLY late 20s or early 30s as compared to someone who already entered into their 60s and likely has a much shorter time horizon and might not feel so compelled to conquer the world in terms of ongoing earning power.
I am still kind of assuming that you, shahzadafzal, are contemplating the top or possible tops in terms of your desire to accumulate more BTC, and you have not even come close to reaching your BTC accumulation goal, and that is part of the reason that you are expressing some anxiety in terms of what can be done (on a personal action level from yourself) in regards to BTC price swings that we largely know to be inevitable, but we really have few clues as to exactly when they might come - even if there are all kinds of trading theories including waves and some of that other bullshit that we could try to plug into bitcoin as a less mature asset class but has its own price performance models that help us to figure out how bitcoin's likely price performance fits into the other trading models.
So, yeah, I am largely suggesting NOT to be selling any BTC when you are in early accumulation phase, even if we might end up getting a 80% or some other extreme correction from here.. but once you have a decent hand on your accumulation goal, you might well be able to shave some off along the way (so long as you are ready to suck that conversion to dollars up in the event that the BTC price keeps going up in spite your anticipation that there was going to be a correction.. so in that regards, your sales are at such a level that you do not give any shits if the price goes up or the price goes down.. not easy to get to such an emotionally detached status both financially and psychologically).. but formulas for actually figuring out what you should do or could do can be worked out.. and if you have not yet reached your BTC accumulation goal likely should involve aspects of ongoing DCA, buying on dips and HODL... .. and yeah, you want to incorporate selling into the formula.. I know I know.. and I do not recommend, unless it is very small amounts and a kind of profit taking kind of formula.. consider the
(SSS) - A Sane and Simple bitcoin Savings plan raking solution (even though rpietila.. rest in peace, was far from sane, there are some good ideas contained in that thread).
I have to confess here that when this year BTC hit $40k i did thought of selling "some" ... but I did not (thanks God) and however later sold "some" at $54k and $53k... just to buy back later.. i never cashed it out... but now I have been waiting since then to buy it back
Well, some people consider various kinds of formulas in which they can start selling some BTC once they reach 2x on their holdings, so then maybe shaving off 10% for every time that it doubles again.. or there can be variations of such formulas including when to start (beginning at 5x or whatever), what increments to sell.. every 10%, 50% or some other rise and how much to shave off. 1%, 5% or whatever.. you can make a lot of different variations of the selling formula and many variations of how much of a drop that you would need before buying back, if at all... you can consider the matter as cash off the table or cash to reinvest into bitcoin and/or even apportion.. half is for rebuying and the other half is off the table.. blah blah blah..
So what are other ways to acquire BTC? mining atm is not an option for obvious reasons... providing goods and services.. there aren't many..
Well, if you work your fucking ass off in various ways, you can use money from what you have earned to buy bitcoin, including figuring out ways to cut your living expenses, such as vapourminer's favorite ramen noodles.. and you can use some or all of the saved money to buy bitcoin. You can also forestall on making expensive purchases, including depreciating assets, and consider whether it is practical to own such an asset or decide to rent a $2k per month property that you can rent out 2/3 of it for $1,500 and only pay $500 per month in rent rather than getting a place for $1k per month in which you would have to pay all the expenses, which could give you $500 or more in money to invest into bitcoin. Of course, your age, your skills and your ingenuity could make differences, and sometimes, luck can help too.. but maybe you prepare for being able to get x, y or z lucrative job, but you end up with luck and you get the xyz job that ends up being a better one than you had even contemplated but your preparations had help to put you in such a position.
here on bitciontalk i never got convinced enough from signature campaigns which force you to post 15-20 posts per week and pays you what $20??
If you are going to post anyhow, it might be just bonus money, but sure, I agree that the signature campaigns are seeming to pay a lot less than what they used to pay.. but changing times do affect options, too.
how about the time you spent writing those post does it worth. I can't do that most of the time i will be in reading mode here on bitciontalk...
You have to decide for yourself what is your status in terms of accumulation and if you need to be spending time in more lucrative activities. On a personal level, I have largely been on the forum for a bit over 7 years, but largely I had already reached a quasi-retirement status when I came to the forum.... and in my case, I had some business that I was involved in (in 2014, 2015 and 2016.. that I was trying to figure out ways to wrap up and get out of .. which also took several years to sort out.... but did not exactly require me to have to earn money from it.. even while I was trying to wrap it up. .. which probably ended up taking way more time than it should have.. but again personal choices regarding how to spend time and how much money is needed to be earned from some of the chosen activities.. or maybe what other benefits are derived from certain hobbies - such as maintaining health through exercise, even though it does not make any money).. so each of us is in a different position.
now please don't hate me and let me ask what "other ways to acquire BTC"??... So sh*tting around with shitcoins, is this an option?
Of course, you are going to get hate for your wanting to talk about shitcoins in this here thread... not that it might not be a potentially valid way of gaining more bitcoin
(and maybe scamming others out of their bitcoin?), but it is NOT on topic in this here thread.... because, in part, such shitcoin topics have tendencies to devolve into shitcoin pumpenings, bitcoin naysaying and a lot of distracting off-topic devolutions, distractions and nonsense..
and ain't nobody got time for dat!!!! at least not in these here parts.. so take your shitcoin contemplations and brainstormenings to udder parts of the forum.. there are udder parts of the forum for those kinds of contemplations and brainstormenings
(that are potentially valid, but off topic in these here parts).
Poll
