Whats your exit strategy?

[Samarkand]

...Which exchange is considered most reliable? (I am in the UK).

Bitstamp and Gemini are the two most legit exchanges. Luckily for you both
of them also accept customers from the UK.

However, you have to be patient, because verification can take up to a few
weeks, because these exchanges are drowning in support requests and new
registrations. But if you are not in a hurry to sell your coins this shouldn´t really
be a problem.

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[Leahhhh]

Thanks for your reply. Think I'd go with Gemini, but I'm sure they're all vulnerable to hackers.

[rayk]

I have no exit strategy because I don't think bitcoin can fall to $3K or $5K. I think as most people say, it may fall to $8K, it doesn't make loss much for me.

[nydiacaskey01]

For Bitcoin, none, hodl. For Altcoins, I dump my coins slowly specially when I already gained profits but I still see a possibility of a continuous bull run, I sell a portion and I keep some so I can move to another coin to hold and wait till I earned my target price. 

[nc50lc]

TL;DR  What is your price? Have you picked a number to exit?

I have other sources of income, it's a waste of brain activity to make myself overthink just because of a failing crypto economy.
If someone can't take an uncertain world of "investments" into his gut, why do he even join in?
If it fails, there goes my digital assets (I'll save what I can when the time comes).
I'm taking in and out overtime anyways.

Seriously guys, did you spent most your wealth into your portfolio,
that these kind of situations make you think of an exit strategy?
It is unethical to put what you can't lose in investments. And hodling, is looking more like a gamble.

This will make your everyday works (whatever it is) inefficiently done.

[dinofelis]

I have included some figures from another thread for context.

Broad money = $80,000,000,000,000 give or take a few trillion.

Bitcoin supply =  16,782,692

So all we have to do is figure out some percentages.

Bitcoin takes over the world!  $80,000,000,000,000/BTC16,782,682

100%=$4,766,818.55736

You're a factor 20 off.  That is because bitcoin has nothing to do with money.  So the broad money supply M2, we don't care.  Bitcoin is a highly speculative asset, that has its place in the financial circus of the derivatives, where big players bet against one another in a zero-sum game.  It doesn't play in the money market, but the derivatives market.  Well, that game is about $1.6 quadrillion.  If bitcoin eats it all (it won't, because it wouldn't make sense: you need a market, so the whole crypto market), that would bring a single bitcoin to $80 million.  Not $4 million.

[anonbit992]

HOLD your bitcoin for the long term. You can invest half or quarter of your bitcoin holdings into altcoins that have a good team and community and also that have clear goals and objectives. And then let the profits run! Book partial profits when you find good projects to invest or when you need cash for emergencies.

[surfinonmyownwavebaby]

Honestly, I don't even have an exit strategy and that isn't because I haven't thought of it. It is because I literally don't plan to exit my holdings of BTC and this change only happened recently when I delved further into everything. Why would I want to get into fiat which is getting devalued everyday when I can stay in an asset that appreciates on a yoy basis? It makes perfect sense to me to stay, granted you can pay your bills and whatnot.

[taktik]

Honestly, I don't even have an exit strategy and that isn't because I haven't thought of it. It is because I literally don't plan to exit my holdings of BTC and this change only happened recently when I delved further into everything. Why would I want to get into fiat which is getting devalued everyday when I can stay in an asset that appreciates on a yoy basis? It makes perfect sense to me to stay, granted you can pay your bills and whatnot.

you are talking about the devaluation of Fiat every day, is it already possible to say about the fluctuation in the price of Bitcoin? I just imagine the disappointment of those users who bought Bitcoin at $ 15,000 after it dropped from $ 20,000.

[wuvdoll]

Honestly, I don't even have an exit strategy and that isn't because I haven't thought of it. It is because I literally don't plan to exit my holdings of BTC and this change only happened recently when I delved further into everything. Why would I want to get into fiat which is getting devalued everyday when I can stay in an asset that appreciates on a yoy basis? It makes perfect sense to me to stay, granted you can pay your bills and whatnot.

you are talking about the devaluation of Fiat every day, is it already possible to say about the fluctuation in the price of Bitcoin? I just imagine the disappointment of those users who bought Bitcoin at $ 15,000 after it dropped from $ 20,000.

A true bitcoin believer will not get appointments as bitcoin prices are known for quick bounce back and when bitcoin prices will be testing $20,000 price levels then we can see all the investors turning into profits regardless of their different buying price levels. This is how, so far bitcoin prices are doing and we can expect these to be continued in this year also.

When we are expecting bitcoin prices to continue its rally then there will be no meaning of having any exit strategy. Just holding and spending some portions of bitcoins for life's need alone more than enough for all the true bitcoin believers. 

[jamids]

Honestly, I don't even have an exit strategy and that isn't because I haven't thought of it. It is because I literally don't plan to exit my holdings of BTC and this change only happened recently when I delved further into everything. Why would I want to get into fiat which is getting devalued everyday when I can stay in an asset that appreciates on a yoy basis? It makes perfect sense to me to stay, granted you can pay your bills and whatnot.

Same here! I really don't have an exit strategy as I believe that bitcoin would be here for a long time and even if I am not here anymore bitcoin would still be here so no use of having an exit strategy. I am just cashing out from time to time though with some of my profits because I need to pay some bills in addition to my fiat earnings cause I am short with it. For as long as cryptocurrency would be allowed in our country then I would not stop earning and trading it.

[mrbnson]

I was sitting here...and you know..speculating. Because really thats what I like to do.

Anyway..I was just sitting here watching the price and all of a sudden I wondered what the "price" would have to be for me to part with my coins. This is a deeply personal number for most of us...merely a business decision for others. But all of a sudden a number popped into my head. It would not go away. I tried to banish this foul thing..but alas..I could not. This number would mean substantial fiat wealth for my entire family..I am talking generational wealth. I used to think 8 digits for a family to be considered rich but today I think more like middle 8 digits..  

Now I have mined and hedl coin for what seems like ages now..almost 6 years soon..so the value I have to the current market price is..well..extraordinary to say the least. I am not saying this to boast or brag or any number of things, I say it to tell you that there is no "bottom" to the current market..even pre- December that would cause me to panic sell.

I have watched bitcoin grow from a small community of several thousands thru the MtGox debacle (yes..I was goxd..I opened an account in May of '13), thru the massive price spike that Fall where many bailed but I did not. Thru the lean bear years where there was plenty of opportunity to say fuck it..but I did not..I slowly bought more. Thru this time the community had grown to several hundred thousands of  people.

Now..thru the last year and last month..several hundreds of millions of people have heard and are talking about bitcoin. Two orders of magnitude over the previous metric no?

I say all this because yes..I am extremely bullish..I think use and adoption is going to grow and grow big over the next year. Once a LN becomes reality look out. Solutions are and will be build for bitcoin. I think crypto currencies in general are going to have a profound impact upon global markets over the next decade and I think capturing 5% of those markets(ie broad money) is feasible within the next year or two.

TL;DR  What is your price? Have you picked a number to exit?

I have. I will never sell all my bitcoins..some will be passed on to family. Some will be donated to worthy causes..but when..not if..that day comes..I will happily part with my coin and have zero regrets.


I have included some figures from another thread for context.

Broad money = $80,000,000,000,000 give or take a few trillion.

Bitcoin supply =  16,782,692

So all we have to do is figure out some percentages.

Bitcoin takes over the world!  $80,000,000,000,000/BTC16,782,682

100%=$4,766,818.55736

50%=$2383409.27868

25%=$1191704.63934    < Mcaffee expects 25% market penetration within a year...ummm...ya.

12.5%=$595852.31967

6.25%-$297926.159835

3.125%=$148963.0799175

1.5625%=$74481.53995875

0.78125%=$37240.769979375

0.390625%=$18620.3849896875      <  We are around here. Not even .4%

0.1953125%=$9310.19249484375

0.09765625%=$4655.096247421875

0.048828125%=$2327.548123710938

0.0244140625%=$1163.774061855469

0.01220703125%=$581.8870309277344

0.006103515625%=$290.9435154638672

0.0030517578125%=$145.4717577319336

0.00152587890625%=$72.7358788659668

0.000762939453125%=$36.3679394329834

0.0003814697265625%=$18.1839697164917

1.9073486328125e-4%=$9.09198485824585

9.5367431640625e-5%=$4.545992429122925

4.76837158203125e-5%=$2.272996214561462

What I find of interest is how some of these percentage points closely match some of out ATH's.  Food for thought.

I have some figured in mind, they are not however figures for bitcoin price but figures for my worth in usd. I will cash out a portion on reaching 150k and then if one day I can ever reach $1m+ I will cash out probably 70-80% of it and almost start again with the rest. That money at that point can set me up for life. This is all subject to change depending on how long it takes and how bullish I am about the markets however.

[The_Dark_Knight]

I said I would sell one coin at $10,000 (which I didn't do), keep one forever & sell the rest at $100,000. However, my greatest worry is getting my money out safely. My coins are in paper wallets & as someone with no experience of using exchanges & transferring coins around, I find it all very complicated. I've been told to move my BTC out first then BCH & then the others BTG......all have the same key, but I'm worried about them getting stolen. Then I'm worried about actually getting my money out of an exchange safely when I do actually get them sold....I've heard too many stories of money going missing & people not being able to withdraw. Which exchange is considered most reliable? (I am in the UK).

Like always the best strategy is to diversify, do not send all your coins to a single exchange, send your coins to several exchanges, that way if one of those decides to do something fishy you only lose a small part of your bitcoins and not everything, however I think that in the future that is not going to be a problem since we will be able to use bitcoin directly without having to sell for fiat first.

[CoinCollector006]

I have mentioned this in other threads Crypto is like venture capital, very volatile snd some of the coin can be expected to produce geometric returns and others can be expected to fall to zero. In between there will be massive volatility.

Given the high volatility and possibility of unforeseen events like exchange hacks or exchange bankruptcies, it feel its important to diversify across the number of coins (>30 if possible), number of exchanges, number of wallets (some at exchanges, some hardware wallets) and allocation to different consensus methodologies (e.g. not invest all the capital in PoW coins). This is particularly important if the investor has a large portfolio either in absolute dollar terms or as a percentage of his or her net worth.    

In terms of when to exit, i think the time frame should be dictated by required spending. If you need the capital to purchase a house or pay for retirement expenses then so be it. But other words I feel buy and hold is a good strategy and this will tend to be tax efficient.  

[newwest]

HOLD your bitcoin for the long term. You can invest half or quarter of your bitcoin holdings into altcoins that have a good team and community and also that have clear goals and objectives. And then let the profits run! Book partial profits when you find good projects to invest or when you need cash for emergencies.

If you are a long term investor than holding do make lot of sense because this market being very volatile so we cannot predict easily the small ups and down and thus selling could be a loss making event.  If you are a small term investor or day trader than definitely you need to have a stop loss in place and make the decision accordingly.

[Toxic2040]

Thank you all for the thoughtful replies. I had not expected so many to respond to my musings of that afternoon. I wish I had the merits to give you all but did my best to sprinkle some over the last page.

After reading thru your replies and reflecting for awhile upon this strange and disturbing notion. I can say it had the desired effect...solidifying my thought process and validating my need to have a more detailed plan. What I hope also happened, is that some of you were also able to formulate a strategy that is suitable to your and your aspirations.

[eddie13]

Lets see..

I HODL my BTC as a wildcard..
The way I look at it, what it's value is worth to me right now is not worth taking the chance of missing something huge..

I want to retire and travel low budget style via RV and/or possibly sail.. Boondock, island hop..

Right now I figure my crypto would fund me for 1 year.. Not enough..
If it got to 5-10 years I might consider leaving..
If it got to 10-20 years I'd probably be gone and see what I can't do to make ends meet for longer along the way..

If it goes to 50 years I'm set by by thank you satoshi!

So BTC 10-50 X from here I might start living off of it a little on my way traveling but I don't think I would just cash it all out to $ and go on that.. I would probably just cash out what I needed for expenses every month or so..

So $100,000 to $500,000 I would probably start using it for my life..

If I don't really need it by then or convince myself I need it by then.. Who knows how much will make it that far..

[The_Dark_Knight]

Lets see..

I HODL my BTC as a wildcard..
The way I look at it, what it's value is worth to me right now is not worth taking the chance of missing something huge..

I want to retire and travel low budget style via RV and/or possibly sail.. Boondock, island hop..

Right now I figure my crypto would fund me for 1 year.. Not enough..
If it got to 5-10 years I might consider leaving..
If it got to 10-20 years I'd probably be gone and see what I can't do to make ends meet for longer along the way..

If it goes to 50 years I'm set by by thank you satoshi!

So BTC 10-50 X from here I might start living off of it a little on my way traveling but I don't think I would just cash it all out to $ and go on that.. I would probably just cash out what I needed for expenses every month or so..

So $100,000 to $500,000 I would probably start using it for my life..

If I don't really need it by then or convince myself I need it by then.. Who knows how much will make it that far..

100k can be reachable in the next 5 to 10 years but 500k are very far away, the most important thing is to get more bitcoin, so the price bitcoin needs to reach so it changes our life is lower, with the current price of bitcoin I will get some benefits out of my holdings with 20k the benefits will increase greatly but if bitcoin reached something like 75k then my life will improve tremendously.

[JimboToronto]

My exit strategy is to only sell Bitcoin when I absolutely must, such as in the case of an emergency or for an important purchase (i.e. my new dental implants).

Maybe some day after Bitcoin has finished the vertical phase of the adoption curve and has leveled off, I'll find something that would be a better place to keep my wealth, but that's still years away.

For now, I'll continue to hold and spend only as required... and watch my wealth grow.

[Aleister Crowley]

I don't see my self a day without thinking of Bitcoin. I may lay low a bit when I hit my target but definitely I will not stop in collecting Bitcoins and holding them. Slowly I will convert to fiat, since we need fiat to live in this world but I'll keep an amount of Bitcoin to hold and convert in the future.

currently the world is still arguing related to bitcoin .. there is a legal or otherwise, I know that fiat is still dominant, but to get around this we still need to hold both the fiat currency and crypto currency ,, because most likely we can have all we want through bitcoin