should i buy more, what do you guys think ?
Just stay in cash. You'll be fine.
proudhon you forgot to switch accounts for this post
hahahaahahahaha
#nohomoSeems to be the going feeling of many right now.
Looking at ur lil selfie in the mirror...
Do you guys remember when we were the newbies, panicking and falling apart everytime there was a huge dip and now its funny to watch the others while hodling calmly?
That's what I was trying to suggest too...
Sure, I cannot say that I am completely unaffected because I am in the same boat as many in terms of quantity of loss of wealth "on paper" so in that regard, so far, the loss of wealth on paper is like more than the whole quantity of my achieved wealth in the peak of 2017, but at the same time, it surely helps to have gone through a couple of cycles already, so in that regard, there is a base investment that is likely in the three digits (if not lower in some cases for some guys who have cashed out much more than they put in)..
There is also the case of having had cashed out small amounts all the way up.. that is called insurance, and sure some guys have either not engaged in such insurance practices or have way under insured their lil selfies for these kinds of scenarios (both financially and psychologically). Any of us might feel as if we should have gotten more insurance for the downside - and so no matter what there is a kind of balancing in regards to how much insurance to take out.. and also concerns about overinsuring too.. which harder to feel overinsured in these kinds of situations either.. I would not claim that I am anywhere close to overinsured even though I did have buy orders going down to $9k but they now only go down to around $15k.. but based on my own particular details, I still would not proclaim that I overinsured.. even though I believe that the odds of going below $20k would be quite low.
One of the main ways to be able to build up both surplus profits and surplus downside insurance is to be in the game for a few cycles and not be fucking around by taking too many risks in terms of building principle.. and yeah there are even degrees to that because in bitcoin there has been a very large amount of potentiality to build a lot of profit and thereby add into what you might financially and psychologically convert into your principle (parts that you are not going to fuck around with), so sometimes even those who have barely made any profits, might still have ended up getting saved to be in the green because it should be a whole hell of a lot more difficult to fuck up with an asset that went up 5-6x in 8 months, 12x in one year (turmoil in the middle, but in the ballpark of 17x in 4 years).
So there have been periods to lose for guys who were either fucking around with margin, leverage or failing/refusing to emphasize more conservative HODL/accumulate practices. Yes, there are guys who believe that they are engaging in accumulation practices, but they sell on the way up for the purpose of buying back lower.. which may or may not work out, and my personal way of selling on the way up is almost exclusively selling profits.. so if the price happens to go back down those profits can be used to repurchase BTC, but there is hardly any concern if the price does not go back down because the amount sold is ONLY profits.
I used to have a formula that would be, for example, if I hold 10 BTC, then if the BTC price goes up $1, then my profits are $10, so i am authorizing myself to sell up to $5, but no more than that 50% of the profits, but through the years, the amount that I sold would continue to gravitate further and further down to maybe be selling 10% to 20% of the profits, so the amounts of profits were building and building up and even compounding upon themselves, so in some sense, as the profits went way up, there became less and less rationale to calculate the specifics because so much of the profits had not been harvested along the way, even close to the initial authorizations that allowed up to 50% of the profits to be potentially harvested.
Surely, guys should be attempting to outline their own formulations, and I suppose that part of my point is that a lot of advantages and flexibilities should come the longer that guys are in bitcoin and building their portfolio and surely I feel for some guys that are on the cusp of feeling that they are able to cash out some additional profits because their threshold might be in the $50k to $150k range, and we are so close but yet so far at the same time. We are not there until we are there, and sure some of those guys might get frustrated or impatient, and even depressed in thinking that they may have to wait one more cycle.. sure the odds are that this cycle is not over, but we also know that extremes can end up playing out in bitcoin, so we cannot put anything past extreme scenarios that could end up playing out and maybe even on purpose targeting guys who are on the cusp to get them to prematurely part with more of their coins than their initial threshold would have dictated.. so they end up lowering their threshold to between $30k and $60k rather than $50k to $150k.. what's the BIG diff anyhow?
Yes, sometimes there is a BIG diff with a mere 2x to 3x more profit building.. yet everyone has timelines too.. and we are NOT going to live forever, neither.
By the way, I can relate more to guys in their 50s, 60s and 70s or who might have some real health issues at a younger age feeling some anxiety over their abilities to enjoy their wealth and lowering their sell thresholds based on such considerations (reconsiderations), and so guys in their 30s and 40s might not have so much of that excuse, even though they might feel some desires to pull the fuck you lever, and feel that they can manage fuck you status on lower levels of capital.. and so each of us has to consider those kinds of weighings, so there surely can develop some unnecessary problems and stresses for guys pulling their fuck you level too early because they want to prove a point or show status or blah blah blah.. do not want to work until they are 50 blah blah blah.. so fucking what... make sure you got your shit together before pulling that lever too soon and BTC going to do what it is going to do.
You cannot rush king daddy.. if there is a need for another 4 years or whatever, so be it.. .. even though several of the more convincing price prediction models are likely going to need to shift down a wee bit, but I doubt that they would be broken merely on a current top of $64,895... just a need for a wee bit of a tweakening to fit newly developed facts. There remain all kinds of scenarios that could play out that might not exactly follow previous patterns but still be reasonable and within within kinds of parameters of expectations even though not exactly seeming to follow any kind of model until we look back at it a few years later and might be able to plug such resulting pattern within some variation of already existing models - while some folks get reckt along the way because they are expecting king daddy to conform too much to some previous way of doing things.. and king daddy gives no shits...including whether corrections should be limited during a bull run to 30%, 40% 50% or even greater amounts, and some folks might also be prematurely calling a bear market and it ends up that bitcoin is merely ending a severe and/or prolonged correction that might have been very helpful in purgening associated froth.. guess who has no fucking value but has been sucking off of bitcoin's teets?
too many to name, no?
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