Hey WOers. Real life has taken me away from here for the last >month so unfortunately I haven't been able to read or write much.
However, for the first time in ages I sold a little bit of btc and spent the proceeds on a few new toys - I don't want to disclose exact details. But what I do want to stress is that IT'S OK TO SELL A BIT NOW AND THEN!
friends1980's earlier post caused me to check to see that I've been knocking around here for 8 years now, which is insane (in a good way). But I've hodled (mostly) and have not really enjoyed many benefits of seeing my net worth multiply, especially since I think I had become preoccupied with not wanting to see my stash reduce, in terms of numbers of btc. But this small sale of btc has allowed me to extract some real enjoyment, experiences and value that I wouldn't have had if I had kept on hodling all of my stash.
Sure, I only sold a tiny, tiny bit - but it was enough to treat myself to sufficient material gains and experiences to be deemed justifiable. I now kind of wish I hadn't been so inflexible in the past.
So, if you've made some gains over the last few years, don't feel too bad about cashing out a bit (but only a little bit!) and enjoying it now, in the moment - after all, none of us know how long we're going to be around and there's no point taking your private keys to your grave.
Of course, keep on hodling, but treat yourself a bit too if you're lucky enough to be in a position to do so. We deserve it, after all the shit we've been through!!
Sure, if you have BTC and you are greatly in profits, then it is good to shave some BTC off along the way, and so I have no problem with that.
I do have a bit of a problem to provide some kind of global assertion that this is the time to be selling, after we had a 56% price correction and we happen to be currently bouncing around in about a 40% price correction zone and likely in a bull market.
So, sure each of us might have our own conclusions, and some of us might believe that the bullrun for this cycle is over.. so there might be some erroneous and some good reasons to sell, and some folks might have come to a realization that they have not sold any BTC for 6-8 years or whatever, so those folks would likely come to differing conclusions regarding whether there is any need to time the market in terms of their shaving off some profits here and there.. and so there is likely no real blanket answer regarding what to do exactly.. .
For example guys like me, have been selling small amounts all the way up from $250 to $64,895, so in the last couple of months I have been buying way the fuck more than selling, merely based on BTC's recent price price direction, so of course, if I bought all the way down to $28,600, then my system already allows me to have been selling on the way up.. but my amounts are only meant as kinds of systematic maintenance rather than feeling any kind of emotional or financial need to take some value off the table due to overly deferring gratification... so yeah, if someone (such as yourself, perhaps? strawbs) has failed/refused to take profits all along, then you may well not be in a very good position in terms of suggesting that now is a better time to do it rather than some guys who might not be in the same place as you.
By the way, personally, in about late April, I did enter into some various kinds of contracts that do cause me to have to have more cash available than what I would usually have needed to have, and largely I had been considering to NOT change any aspects of BTC management systems that I already have in place, but the BTC's price performance ended up largely moving against me by the time I made some tweaks to my system in terms of moving funds around - so sure, with me, there has also been some juggling, but I deny cashing out any extra BTC (at least not so far), and so far, I have just been moving funds around.. but NOT really in preferable conditions when we had the BTC price correct by 56% during that time.
At some point, I will probably provide some additional details regarding what I did (or what I am in the midst of doing), but surely I do not want to say too much while the process is still playing out...
Yup, just to clarify I also agree that it's not a good time to sell, since I firmly believe that we're still in a bull market and that this bull could well have a significant way to run, way beyond the $60k-ish we saw back in April. I expect (hope?) for $200k by the end of this year, but that is based on nothing noteworthy (and certainly no sorcery on my part!). But a serendipitous opportunity arose (unrelated to btc) which I couldn't resist and which comes along very rarely, and which needed fiat. So it's likely I would have sold some btc no matter what the price. But as you say, I admit that I have an advantage of having made early gains, whereas if I'd only recently become a bitcoiner then I surely would have acted differently. "Horses for courses" as they say in these parts.
I wish I could share more details and even photos of my reasons for selling a little bit of corn, but you never know who's lurking here.
So while it does hurt a little to see the price having increased a few percentage points since I sold some, I have a new uplifting toy to play with which I see as a present to myself as reward for hodling through those viscous and depressing bear markets of the past.
In other words, it's nice to use a bit of our gains to have some fun now and then
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