nice morning
buying a couple thou worth a la Boblawblaw style today....
replacementYes, I like to buy 'them ATHs, lol.
That's not a great strategy, Biodom..
especially for a longer term bitcoiner.. and likely demonstrates that you inadequately pee pared ur lil selfie (baby talk intended) for UPpity.
Actually, it works pretty well.
I suppose that I can leave the subjective portion regarding what "works well" to you and to your own devices, because of course any strategy should be tailored to individual circumstances including both finances and psychology, and so for sure, as a general approach, I recommend buying on the way down and selling on the way up rather than buying on the way up - except, as I mentioned the DCA matter that would be buying all the time no matter the price based on cashflow coming in.. however, to be holding back on investing and then injecting value when the BTC price goes up seems a bit off and even conflicting in terms of attempting to hold money to buy on dips.
When I need to spend btc, I buy to replace it, hence the word "replacement".
buying on the way up is NOT the same thing as buying to replace.. .but whatever.
I had some BTC sales in the mid $58ks that were based on purchasing some services, so I ended up plugging in that value to my system to buy back at $54k or so when my buy back orders were originally set in the $53ks. I also removed some BTC sell orders around those same prices (I believe in the mid $59ks). Anyhow, my BTC sales to purchase services caused my BTC buy back orders to have additional buy backs that were $1k higher but removed some of the BTC sales that were otherwise there. The buy backs have not executed since then because the BTC price went up, but I guess my point is that the sales were largely plugged into my system and actually to create more value in my accounts to be able to set those buy back orders, I removed some buy back orders in the $9ks.
Seems to me that I am implementing a kind of "replace" theory too, but admittedly it is quite a bit less strong than my "replace" practices in the 2014 to 2016 period. Back then, I would add additional value to my whole system because I was more concerned about accumulating BTC, so I would always error on the side of accumulating, so if I partook in any sales, then I would go overboard to make sure that I replaced any BTC that I sold.. or even double or triple the amount that I bought back in order to compensate for the amount sold.
Once I got into greater profits and started to psychologically feel that I had accumulated enough BTC or way more than enough BTC, then I became less obsessed about whether I was accumulating more BTC or even concerned about whether I was replacing those BTC exactly, and my above example does show that I am currently plugging in values of sales, but likely my practice is mostly aimed at maintaining the values within my system - and maybe removing some of my lower level buy orders rather than concerns about whether I have enough BTC or not. So there might even be inclinations of liquidation that are coming through with my actions as well, so practices are likely going to play out quite differently depending on what stage a guy perceives himself to be whether accumulation, maintenance or liquidation.. and those stages are likely NOT exactly absolutes, yet in that regard, even though we have been around BTC a similar amount or time, you seem to be way more in an accumulation framework - and I am in more of a maintenance and even gravitation towards liquidation framework.
I cannot completely judge you based on where you are at because I do not know enough of you personal financial situation to appreciate if you had refused to accumulate enough BTC at earlier stages or merely if you might have been unable to accumulate enough BTC at earlier stages based on cashflow or whatever, and surely I have already disclosed, several times, that I had a pretty damned decent investment portfolio in late 2013 when I got into BTC, so my ability to accumulate between 2013 and 2016 was greatly enhanced by being able to transfer a decent amount of value into BTC in 2014 - and even to largely over accumulate (in terms of my targets of value that I already had in my investment portfolio) in 2015 and 2016.
So, if you did not have as much value that you could directly inject into BTC in those earlier days that you were into BTC, then sure it makes sense that you would still be in a largely accumulation of BTC phase. Before 2013, I had spent about 25 years accumulating the investment portfolio that I had by the time late 2013 came about, and even if my accumulation of an investment portfolio was only lowly successful compared to subsequent BTC performance, I still would expect that even a brand new person to BTC in 2013/2014 would still take a decent number of years (likely way less than 25) in order to accumulate an investment portfolio - even if they have the advantages of BTC price appreciation to considerably short-cut some of the relatively long timeline of 25 years of prior non-btc accumulations.
As of now, I do not foresee selling btc (reducing it), with caveats, of course.
Yes.. of course, if you are in BTC accumulation stage (still) then you would not be ready, yet, to reduce your BTC stash.
Baby talk aside, don't be nosy..my preparedness is none of your biz wax.
Well if you are posting some of your ideas in a public thread, then anyone, including yours truly, can chime in and to make any previously discussed topic their bees wax... you fuck
(nohomo)By the way, in typing this post, I come to realize some likely reasons why you have been so obsessed about "never selling your BTC" blah blah blah, and even ineptly analyzing my situation based on your own situation is that since you are likely continuing to be so damned steeped in BTC accumulation, you are likely having trouble relating to some folks (including yours truly) who have long transitioned out of BTC accumulation mode, so you are seeming to have some difficulties relating to persons, such as yours truly, who may well not
have to worry about BTC accumulation and are even starting to gravitate towards liquidation rather than maintenance.. so someone who is in those later stages are starting to be a couple times removed from your own BTC accumulation focused situation.
Sure, no problema, not trying to get to judgie here, and hopefully you and a lot of other BTC accumulators are going to be able to relate to getting to either maintenance or liquidation, and surely, I am hardly even suggesting that any BTC accumulator should be attempting to rush the accumulation process because sometimes attempting to rush matters too much will cause delays or will cause the engagement of too risky of strategies, such as gambling, yet one great thing about bitcoin, even though the cost of purchase continues to go up, there has been some decent advantages for anyone who has been able to accumulate some decent stash at lower levels, even though the current ongoing purchases seem quite expensive, but those earlier purchases will continue to appreciate in value.. so long as you do not get too dumb and try to gamble by selling them, when you have not even yet reached your accumulation targets.
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