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Author Topic: Question to hodlers:How will you spend the money?  (Read 702 times)
Stalker22
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May 05, 2024, 08:07:17 PM
 #41

OP, you asked me in PM for my opinion, so I will just answer here.  I dont have a ton invested in Bitcoin or anything, so realistically it probably wont be making me rich anytime soon.  But if the price did shoot up enough where cashing out a bit could give my small business a helpful boost, I would likely sell off some of what Im holding.  Not looking to fully retire off Bitcoin gains or anything crazy, but some extra capital at the right time could help me take things to the next level with my company and  i still gotta keep my day job and all that but growing the business is important to me too.  It is always a tricky balance figuring out when to hold and when to sell with this stuff.  But if I had a chance to fund an expansion or some upgrades that could pay off long-term, I would seriously consider making a move.  This game isnt just about holding out for early retirement - sometimes you gotta know when to take some profits off the table strategically.  I dont have all the answers, but thats my general take on it all.

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May 06, 2024, 03:35:37 AM
 #42

If you check those charts which shows old coins moving for the first time, it shows you that long term holders sell in one or two scenarios.

First one is when there is a huge crash. Usually some exchange hack or that Covid dump. If you look at those charts you can see some old holders got scared and took some profits.

Second time is when we make fresh new ATH. Whenever a new ATH is made there is always some old coins being sent on the blockchain for the first time. Usually they sell very early, such as in 2017, many sold at $3000 but we peaked at $20000.
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May 06, 2024, 05:03:55 AM
 #43

Hello,friends
The question is addressed to hodlers who have been hodling bitcoin for years
Sooner or later there will come a moment when we will sell the bitcoins we hodl and have to invest this money in something else to create passive income
It can be real estate,any business,buying land and renting it out or something else
Very few people will sell bitcoins just to spend this money in a few months,at least i don't know such people
Everyone here is a smart person and everyone here has thought about where to spend this money
That's my question

P.s. I'm a holder myself,i'm thinking about strategies and i'm interested in the opinion of other hodlers to put these ideas in my head and think about them

-Regards
This is very important question but there will hardly be an answer that is ideal for everyone because people hold for different reasons. The only thing I know is that majority of people holders seems to be saving towards retirement so they can rest and enjoy their wealth when their strength is weak and they are no more in active service. A good number of people are also saving for their children and loved ones.

I am personally saving for retirement, so I can have something to fall back to them. This does not mean I will not also enjoy the wealth when I see the need to because sometime one have to enjoy the wealth to have a feeling of it at a younger age. Part of my bitcoin will also go to my children too because I intend to also make them be involved in bitcoin when they get to a certain age. Giving them bitcoin will be a very good motivation because they will be able to see that it is actually money.

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Z390
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May 06, 2024, 06:31:58 AM
 #44

Hello,friends
The question is addressed to hodlers who have been hodling bitcoin for years
Sooner or later there will come a moment when we will sell the bitcoins we hodl and have to invest this money in something else to create passive income
It can be real estate,any business,buying land and renting it out or something else
Very few people will sell bitcoins just to spend this money in a few months,at least i don't know such people
Everyone here is a smart person and everyone here has thought about where to spend this money
That's my question

P.s. I'm a holder myself,i'm thinking about strategies and i'm interested in the opinion of other hodlers to put these ideas in my head and think about them

-Regards

Let's say I am able to make six figures when Bitcoin reach a new all time high, I plan to set up a bigger business, not for myself but for my partner, I plan to improve her in business, and I also plan to get some properties back, years ago I sold few lands to buy Bitcoin and today I am very up in my investment but now is not the time to take profit, I will surely do so when Bitcoin does something new, price wise I meant.

I don't plan on exchanging all my Bitcoin for anything, even if I end up having everything I want Bitcoin will still always be something that I can't stop having, it's my Gold, and also my bank, till my last day on earth, I have always wanted to get away from banks and centralization, Bitcoin made it possible.

Many holders will take profits when the time is right for them but you should know that many Bitcoin holder tend to retire holding Bitcoin, they will have time to sell but not all the amount they have, and mind you, those who sold are simply waiting to buy back in, this will net them even more Bitcoin.
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May 06, 2024, 07:21:37 AM
 #45

We can actually say that bitcoin is a passive source of income and is recommendable for retirement program. Some says it's the end of the way to success due to its flexibility to generate wealth.
So possibly While we may sell off our bitcoin for other purposes in life, such as investmenting on other sectors, we can as well keep it up reinvesting in bitcoin even after harvesting what it has produced for us.

Real estate investments are good idea though because while we're expanciating with our investment, we should also consider management flexibility as we approaches to our retirements. So that reason why bitcoin can't go on extinction.
So I personally has taken shape and decision to a lifetime goal with my bitcoin investment.

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May 06, 2024, 09:13:53 AM
 #46

I keep my spendings limited to fiat currency and not bitcoin. While there are some giftcars purchases happening there are less bitcoin being spent. It is mostly for the long term price growth of Bitcoin along with the accumulation of Bitcoin over time that I am targeting. Both of these are achievable with long term holding.

Using the money to make more money is possible if you are willing to invest these Bitcoins. That is a topic for another discussion and many are already doing this too.

R


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May 06, 2024, 09:35:50 AM
 #47

"Question to hodlers:How will you spend the money?" - to buy an island, a lambo and a couple of mulattoes. Cheesy


Sooner or later there will come a moment when we will sell the bitcoins we hodl and have to invest this money in something else to create passive income
It can be real estate,any business,buying land and renting it out or something else
Why sell bitcoin in order to invest the money received in something else, for the sake of receiving passive income, if bitcoin already brings passive profit? Moreover, not every method of making a profit can boast quite significant returns.

Some, for example, buy a yellow legal pad. Although I could call this the most senseless and stupid way to spend bitcoin (or there is something I don’t know and don’t understand in this story).
I guess selling bitcoin in order to acquire other investment is quite unreasonable, but if you tend to sell a portion of your bitcoin investment in order to diversify your investments, that would make more sense, like buying properties or putting up a physical business that would attract a lot of customers, hence you are adding to your bitcoin investment that would also gain more passive income.

However, if you can also maximize your bitcoin investment, that would mean massive profits as well. But I always believe that it’s always better not to put all your eggs in a single basket, that way you will lessen the risk it involved and you will come to minimize the chances of getting lose all at once.

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May 06, 2024, 10:10:23 AM
 #48

Most holders of the bitcoin market should hold more holdings after the desired success of their investment because they have already received it or will receive more in the future (desired capital gains). I think it will be easy for them to pull back from BTC because of its underlying upward trend and even demand especially with world inflation and political instability putting huge pressure on the economy. As fiats continue to depreciate and historical assets are similarly under pressure, overall it may be recommended to stick with BTC and be more aggressive in investing. Stacked holdings are better than other investments to increase and accumulate BTC in DCA strategy.

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May 06, 2024, 10:13:55 AM
 #49

"Question to hodlers:How will you spend the money?" - to buy an island, a lambo and a couple of mulattoes. Cheesy


Sooner or later there will come a moment when we will sell the bitcoins we hodl and have to invest this money in something else to create passive income
It can be real estate,any business,buying land and renting it out or something else
Why sell bitcoin in order to invest the money received in something else, for the sake of receiving passive income, if bitcoin already brings passive profit? Moreover, not every method of making a profit can boast quite significant returns.

Some, for example, buy a yellow legal pad. Although I could call this the most senseless and stupid way to spend bitcoin (or there is something I don’t know and don’t understand in this story).
I guess selling bitcoin in order to acquire other investment is quite unreasonable, but if you tend to sell a portion of your bitcoin investment in order to diversify your investments, that would make more sense, like buying properties or putting up a physical business that would attract a lot of customers, hence you are adding to your bitcoin investment that would also gain more passive income.

However, if you can also maximize your bitcoin investment, that would mean massive profits as well. But I always believe that it’s always better not to put all your eggs in a single basket, that way you will lessen the risk it involved and you will come to minimize the chances of getting lose all at once.

I think the passive income the OP is talking about could be investing in real estate and then renting it out to earn income each month, and bitcoin cannot do this. Additionally, there is nothing wrong if our bitcoin investment is already profitable and we take profits to diversify our portfolio. We all know that bitcoin is very volatile and it would not be wise for us to place all our assets in bitcoin.

I also have that plan, I will take profits when the bull season comes and will only keep about 30% of my assets in bitcoin, the rest I will diversify with other assets and invest in the business sector. That will help me minimize risks as well as have a daily and monthly passive income source through business and real estate rental.

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May 06, 2024, 12:06:32 PM
 #50

Hello,friends
The question is addressed to hodlers who have been hodling bitcoin for years
Sooner or later there will come a moment when we will sell the bitcoins we hodl and have to invest this money in something else to create passive income
It can be real estate,any business,buying land and renting it out or something else
Very few people will sell bitcoins just to spend this money in a few months,at least i don't know such people
Everyone here is a smart person and everyone here has thought about where to spend this money
That's my question

P.s. I'm a holder myself,i'm thinking about strategies and i'm interested in the opinion of other hodlers to put these ideas in my head and think about them

-Regards
Those that you have mentioned, they're part of my plan if ever the time has come for me and I want to start selling some of my holdings.

They're in position and in profit already but I don't think that I'd do it this time unless I see some skyrocket to Bitcoin before this year ends. Most plans are in 2025 and this bull run is still quite long.

We have to be patient but too much of it might lose you the opportunity at the right time. So, always weigh things when deciding.

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May 06, 2024, 12:48:15 PM
 #51

I know some people view their Bitcoin investment as a retirement fund. Another reasonable idea, especially for the younger generations, is a Bitcoin college fund for kids or something like that. As for me, I'm flexible with Bitcoin: I treat BTC as a savings account, from which I take money as needed, but which I want, ideally, to grow. There's no need to go all-in on just one idea or never sell BTC. Life is unpredictable, and none of us really know how much of it we have left, so I'm a proponent of regular spending on things that make us feel better.

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May 06, 2024, 12:55:46 PM
 #52

The thing is, I just don't want to cashout it at once rather I only get some bitcoins whenever there is a rush property for sale that I think I gonna get used of in the future and so far so good for me and when I made some money with those things, I put back some money to bitcoins the same price I took earlier or maybe more but I don't buy at a high price, I stacked my money and wait for the right time to buy bitcoins again, my funds are limited so I need to think twice before making any decisions in terms of investing it back to bitcoins.
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May 06, 2024, 03:14:02 PM
 #53

In my opinion, there is no point in selling your Bitcoins until Bitcoin finally becomes the world's reserve currency and an integral part of central banks' gold and foreign exchange reserves.  Moreover, when this event occurs, there will be no need to sell Bitcoin for fiat money.  Its cost will be so high that the hodlers will not sell it, but will only pawn it.  Bitcoin is the most valuable asset a person can own.  Real estate may seem like a very attractive investment, but in reality it has large associated costs and can easily be confiscated or destroyed as a result of military action.  Fiat money is currently undergoing a period of transformation.  There is a transition from traditional paper money to CBDC (new programmable digital concentration camp money).  Which is better: CBDC or Bitcoin?  The answer is obvious!

I can ask, How many years of life have you planned for yourself?? Judging by your post, it will take a lot of time for the events you write about to happen. But you are getting older; are there really no desires that you would like to fulfill while you are not old? My old parents no longer have good desires, although there are some means. Everything is spent on health and grandchildren. From seeing such a life, an understanding arises that the older we get, the less we want. Why save for the sake of saving? Build passive income by naturally understanding how to do it. What people write here about simple hoarding without a goal really upsets me. We must live now, travel now, and not save for old age, when nothing is needed. Roll Eyes

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May 06, 2024, 03:22:17 PM
 #54

I can ask, How many years of life have you planned for yourself??
Different people have different ages, social-economic status and more so they have different needs in their life and must have different plans for their future.

The young can think too far but the elderly can not because they know their time is ticking down.

Quote
What people write here about simple hoarding without a goal really upsets me. We must live now, travel now, and not save for old age, when nothing is needed.
It's classic but your post is excellent as a reminder. People can not live without spending and if they see some needs to buy anything, have a trip, whatever that can help them to enjoy their life, have better life quality, they should do it.

If to do this, they must sell their bitcoins, cash out some of their bitcoins, they can do it without fear. We will all die and become dust so let's enjoy our life in unique ways for each person, but just don't HODL.

Quote from: Investopedia
HODL: The Cryptocurrency Strategy of "Hold on for Dear Life" Explained
HODL is a crypto slang term meaning to buy-and-hold indefinitely.

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May 06, 2024, 04:27:41 PM
 #55

Hello,friends
The question is addressed to hodlers who have been hodling bitcoin for years
Sooner or later there will come a moment when we will sell the bitcoins we hodl and have to invest this money in something else to create passive income
It can be real estate,any business,buying land and renting it out or something else
Very few people will sell bitcoins just to spend this money in a few months,at least i don't know such people
Everyone here is a smart person and everyone here has thought about where to spend this money
That's my question

P.s. I'm a holder myself,i'm thinking about strategies and i'm interested in the opinion of other hodlers to put these ideas in my head and think about them

-Regards
The tip is to never take your feet out of the water. What I mean by this is to always keep your holdings in the crypto space no matter what happens, and even if you're planning to splurge on a large purchase.

When I was new and was not as confident as I was right now in this industry, The moment my money shot up from the 20k bitcoin ATH back in 2016 I pulled out all of my shit and made myself liquid, thinking i'm set for life with the millions that I have at that time.

I quickly realized that money when not working is easy to fade, and in a few short years I lost it all, if I had kept some of it in the crypto scene, day trading and perhaps just holding some of my coins I wouldn't have to deal with that and even now that I was able to make more money than what I once lost I still feel a little regretful that I took out all of my money in the crypto scene back then.

So yeah, just take what you really need, and nothing more. Keep your investments here.

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May 06, 2024, 04:44:20 PM
 #56

There are different plans when it comes to spending your money. My main objective of investing and holding the investment for a long period of time is to earn profit and when I get the expected profit I will surely do the things as per my plan. For example, when I feel that I should sell my investment now, I will wait to sell my investment and invest again with some money, and with the remaining money, I try to fulfill my needs as well as my desires. Many do this by reinvesting the entire portion of the profits and safely storing the capital they used in the past. This means that they get back the capital they used in the past and with only a portion of the profit they are able to continue their investments later.

R


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May 06, 2024, 05:00:08 PM
 #57

Hello,friends
The question is addressed to hodlers who have been hodling bitcoin for years
Sooner or later there will come a moment when we will sell the bitcoins we hodl and have to invest this money in something else to create passive income
It can be real estate,any business,buying land and renting it out or something else
Very few people will sell bitcoins just to spend this money in a few months,at least i don't know such people
Everyone here is a smart person and everyone here has thought about where to spend this money
That's my question

P.s. I'm a holder myself,i'm thinking about strategies and i'm interested in the opinion of other hodlers to put these ideas in my head and think about them

-Regards

I mean there were surely a lot of people that are just holding Bitcoin and as far as I know, don't really have any plans on selling their Bitcoin any time soon, I kinda understand and I kinda don't at the same time but we all have different situations here, for some people, of course, they might not need to sell there Bitcoin at all because there already have the money to live on their a lifetime or even more, one thing that I've heard most of the time is they were just holding Bitcoin for inheritance and they just wanted to see how the Bitcoin is going to turn out in the end, is it going to skyrocket or might see if it is going to reach 1 million dollars something like that.

Personally, I am not really a fan of that since it wouldn't really matter at all if you are not going to sell it and make a profit on it, but still it would make sense if you don't need the money, but for normal citizens for sure the main goal is to make to a profit so you would need to make the best of the cycles in the market on bear market you for sure want to accumulate, and in the bull run surely would want to sell for profit and lower your risk.


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May 06, 2024, 06:15:45 PM
 #58

In my case, when I saw that the bitcoins I have have already reached the profit I want, then I would sell them to finance a business in the real world, because that way I would have made a profit from the investment in bitcoin and then I would continue making a profit from the investment what I would do in the real world, which in this case would be opening a large business that I have been researching for many years in my country. for me it would be something very good and when this business that I was doing in the real world started giving good profits, then I would take part of the profits and buy bitcoin whenever it fell a lot and hold it for years until I had a lot of profit again, I consider this a good strategy for my case

I would use the money to set up an AI to do all the answering in the Bitcointalk forum for me... so I had time to go fishing on the beach.

Cool

If AI could read your entire post history, then AI would charge you a very high price for the services it would perform in your place because it wouldn't be easy for it to replace you while you're at the beach  Grin

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May 06, 2024, 08:22:11 PM
 #59

For me I would sell my crypto to buy my own land or place, then start up a small business there.
It is more of a retirement plan for me, I want to buy a land on the country side rather than live on the city.
The cost of living would be cheaper and the scenery is much nicer.
Of course I would continue to earn on crypto, and when I start my small business there I would also accept Bitcoin or other crypto currency as a payment option to promote it.



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May 06, 2024, 08:26:58 PM
 #60

Hello,friends
The question is addressed to hodlers who have been hodling bitcoin for years
Sooner or later there will come a moment when we will sell the bitcoins we hodl and have to invest this money in something else to create passive income
It can be real estate,any business,buying land and renting it out or something else
Very few people will sell bitcoins just to spend this money in a few months,at least i don't know such people
Everyone here is a smart person and everyone here has thought about where to spend this money
That's my question

P.s. I'm a holder myself,i'm thinking about strategies and i'm interested in the opinion of other hodlers to put these ideas in my head and think about them

-Regards
I do not see the need to do this yet since bitcoin still holds massive potential to grow, and even if at some point bitcoin became so big that the profits you could get became similar to the performance you could get from other assets, I will still prefer to hold bitcoin, and this is because most other assets have massive disadvantages when compared to bitcoin, look at real estate, while owning a house in which to live is an attractive proposition, real estate cannot ever be really owned by you, while in the case of an emergency you cannot carry your property with you, and you cannot sell it in a hurry as real estate is expensive and it could take you months before you can get a person interested.
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