You likely did not feel stress free with your bitcoin in your first whole cycle buying bitcoin, even though we came to find out that we could have invested a whole cycle in the past and then we could stop investing. Now days, there are likely needs for most folks to invest into bitcoin 2-3 cycles or even more to really get to a point in which their bitcoin investment might start to feel less stressful, and not even that is guaranteed.
thats true. my 1st crash (~70%) was like, holy shit wtf haha does it do this all the time?
answer: yes
i guess you literally just get used to it?
for a long time i was playing with "house money" i guess youd say (ie front loaded via mining) so by the time btc was getting more notice (like around 2013 maybe?) and i had seen the crazy volatility before my btc stacks fiat value was really noticeable.
If you go from being in profits or maybe around break even prices, and then at some later point, you only hold around 30% of the original value, then you might feel some stress about your then "in the negative" situation..
Yet, historically, if you just stuck it out for a few years (sometimes it had taken more than a couple of years to get out of the largely down period), then there ended up being decent odds that your holdings not only broke even, but went into multiples, if not magnitudes, of profits, so then if you had found yourself in multiples or even magnitudes of profits, then something like a 70% correction, would not take you out of profits. Instead if there were a 70% correction, maybe you would have had ONLY been in 2x, 3x or even 5x profits rather than having had been in 10x or even in the ballpark of 100x profits.
As you imply, there would still be some sense of loss, yet you would not feel as much like a failure when you had most of your networth in bitcoin.. and even when the price went shooting up 10x, 30x or even 100x, you might have decided to take 1x, 2x or 3x off of the table at some points that the BTC price was going up, so you end up feeling less loss aversion or even stress from the loss because you had largely taken most of your investment out of bitcoin.
Historically, I have liked to describe the situation of a friend of mine who got into bitcoin for less than $10k between late 2014 and 2016-ish... which resulted in right around 20 BTC... and then during the 2017 price run this friend cashed out around $35k worth. .. and then had a few more times cashing out $50k worth... and so maybe the person cashed out close to $200k, and then ended up with around 10 bitcoin before making some screw ups around the 2022 matters and some other screw ups that caused the stash to go from 10 BTC down to something like 1 BTC, which I think that the guy did not completely learn his lesson, but he had figured out some ways to continue to hang onto the 1 BTC, so right now he still has 1 BTC.. and did quite well even though he had also had some mismanagement issues (and too much risk-taking, and perhaps some dumbness?) in the mix. Part of the positive of that guy was that he decided to take some chances to put some money in bitcoin and to mostly emphasize bitcoin, even though the investment was pretty whimpy in comparison to what he could have had invested, but the investment into bitcoin still did quite well, in spite of some subsequent screw-ups..
As a longterm holder who has no idea how margins and leverages etc. work, this small correction felt like any other to me. But the more I check crypto related forums and groups the more I realize how big this seems to be. I’ve seen posts now about suicides and 100% liquidations etc. it’s crazy. To me this felt like a small hiccup in comparison to the Covid, mtgox or FTX crashes. In moments like this I’m happy that I just hold and have no understanding of leverage and all that stuff.
I’ve taken some profits at 125k but not as much as planned. The plan was to sell 10% of my Btc in this bull market and sell 1% at each 10k+ level eg. 120k = 1% - 130k = 1% etc. was only able to sell 0.6% at 120k levels.
Mainly because I’m worried about Binance freezing my account if I sent too much Bitcoin at once there. So I send always 10% of what I want to sell in total. How common is the account freezing and proof of funds? My Binance account is 4-5 years old and is kyced. My Bitcoins were bought in 2013 from Mtgox mostly. And some from Bitstamp. I’ve used that Binance account for a lot of sells and trades. I wish to sell large amounts at once instead of small fractions.
I don't know the answer, either, since exchanges can be finicky, and at least you sound prepared to give them an answer if they ask for source of funds - but at the same time, you cannot really know if your answer is going to be good enough for them.
Perhaps guys have to develop relations on various exchanges, and surely try to find ways to spend bitcoin (or exchange coins) in the real world person to person or person to merchant kinds of interactions. Even merchants might not want to get involved with bitcoin if they believe that they are going to be having troubles getting out of their coins, yet surely we likely realize that they might be better off if they are also able to interact with other merchants (or their suppliers and/or contractors) in bitcoin, too.
It sounds like what you are doing is good, and to potentially build up the quantity of BTC that you have going through them, and see if they say anything.. or ask any questions.
my copper sales and silver sales allow me to have powder for duy the dip and keep the mining going.
in fact i could say if we are going to dip lets see <100k
because of the copper and silver sales buying .1 or .2 btc is easy to do.
Why so greedy? You should be happy to get out of that crap, and get into something better, yet you are never guaranteed to be better off in the short term, which is frequently why any new BTC sales should expect to have at least a 4 year time horizon - otherwise you may well aiming towards trading rather than investing, even if you label what you are doing as investing.
But, yeah, maybe you have never been a BTC investor since you never seem to be committed to at least a 4 year time line. You have always been a bitcoin trader, even though since your 2018 or so supposed reform, you have started trying to consider yourself as a bitcoin investor, but you have never gotten to a timeline commitment in your head in regards to bitcoin that was at least 4 years or longer.
Even if you are not exclusively a trader in regards to bitcoin, you haver been and likely are continuing to be mostly a trader, since you cannot even commit to a 4 year or greater timeline in regards to any new bitcoin purchase that you make.
By the way, we know that when a person becomes more elderly, an emergency could happen at any time in which expenses have gone up and/or income has gone down, so even if you had mentally committed to investing more than 4 years, some unexpected health/age related thing ended up causing you to have to break your 4 year commitment. Surely, I am not saying that at least 4-year timeline commitments cannot be broken, yet there should still be some feasible chance that you believe that you would not need to break such at least 4-year timeline commitment.
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