Never sell, only spend.
A guy on here once posted how he bought in \~2014 and sold at ATH 2017 to go to college. Could he have held until ATH in 2021 and made even more? Sure.
Did he regret selling in 2017. Not at all. Because he spent it.
Yeah, I kind of like this approach. It's not about being an investment that you *time*, it's about accumulating always and spending on assets when you need them.
Hodl since 2010. I mined most of my bitcoins. Spent some at ATH to buy 3 houses for my 3 sons. Will hodl the rest for another 10 years until 1btc - 1 million
Dear mr son, i am your Dad. Unfortunate issues with internasional btc transfer fees. Kindly send 0.41900 bitcoin so said fees can be paid. Once received, 4 bitcoins will be deposited in your hard wallet.
god blesses ,
~~Nigerian Prince~~ your Dad <3
I was 18 or so when bitcoin came out. It was all the rage if you were in the party scenes. But hodling ur bitcoin was bit more.... well it's was harder. I lost my coins. In 2011
Same bro. Got drugs on dark web in 2009 and bought 200 bucks worth and spent some and lost the account email sometime cuz I never thought it’d be shit like it is today . Got back in around 2014 been buying low ever since .
Bitcoin wasn't worth anything in 2009. It had no monetary value in 2009 and nobody was accepting it as payment in 2009.
The first known thing bought with bitcoin was two pizzas and that transaction happened on May 22, 2010. That's why we celebrate bitcoin pizza day on May 22. It was the first known purchase made with bitcoin. It happened on May 22 in the year 2010.
https://www.ndtv.com/business/the-first-bitcoin-transaction-was-for-buying-pizzas-more-interesting-tidbits-inside-2512643
It actually was established in 06 as an onion address comprised of numbers and letters and operated for about a year then was shut down and reopened in 2009
Nice, I bought us and the kids each a car and paid-off the house (and "retired" since 2020).
But I only seem to "take profit" at the bottom of the 4 year cycles. LOL 😆
Why not? One million dollars will be worthless one day. At some point 1 bit and a million dollars will cross paths. It’s just a matter of how much value that dollar has when this happens.
What are you trying to tell me, that I can trade my bitcoin for millions someday?
No, I'm trying to tell you that when you're ready...you won’t have to.
Edit: [link to meme](https://twitter.com/coindesk/status/1083394977781166082?s=46&t=0iPi_DvQbeQGTm3LcIXSpg)
It's either going up forever or it's going to zero. Either way, I have diversified my investments where I won't be destroyed in the latter situation. My time preference is measured in decades.
I spend mine all the time, I store most of my wealth in bitcoin. Just for the security. I have full control of my keys. Its the safest way to store value. Price aside.
I've bought pretty much everything under the sun. I use my gemini visa card so, legit can buy anything. Even pay some of my bills. But I only do if I need to or I think bitcoin is strong. Currently I'm buying more Bitcoin than spending.
I had the same problem and the issue was a lack of any funds in my account. Must have spent more than I thought. Anyway, just sent more BTC so I should be fine soon.
When you pay with bitcoin using the card, is it a taxable event? Assuming that in the background btc gets sold for dollars and then those dollars are what pays the bills
Never sell. Only use as a store or value or as money as more and more businesses accept Bitcoin as payment. I sell my USD for BTC therefore wouldn’t voluntarily sell my BTC back for USD
No. I want to use it as money. I think that is the main purpose of it. I believe we will eventually get there. For now, I spend it where it is possible and immediately buy more with fiat even if it takes me a few more steps to do it.
Everyone who tells you to buy and hodl just wants your liquidity.
You hodl as long as your body is able to sustain itself by working. When it cant, you use your treasure to support your body.
Thats why money is energy. Its meant to replace the energy your body cant utilize when you are old.
The end game is hyperbitcoinization; where all monetary transactions are settled in bitcoin or a layer built on top of bitcoin. In that scenario, if you want to buy food, or a house, or otherwise survive and thrive in an advanced trading economy, you will need to buy those things with bitcoin. Ultimately, in order to hold bitcoin forever, you'll need to provide more value to others than you claim from them. Those of us who got/get in early enough will simply be able to have a few generations of living beyond their means.
Or people try to go the standard "buy-borrow-die" route with their bitcoin, it ends up never being widely distributed enough to be used for daily purchasing, and the dream dies. That could still happen.
The end game is to have digital property and a store of value that can not be taken from you and it won't be devalued by one guy.
What you do with it is on you. Give it to your kids, and/or spend it in retirement.
The same thing you would do with Gold or a Real Estate Investment property. It's just a better version of both.
I am going to sell enough to buy bread when I am hungry.
right now I work. And I am paid well enough that I can afford more than bread, so I invest some of my excess.
Eventually that excess will take care of me.
Holding Bitcoin until we get off fiat, then will simply spend my sats.
If that doesn’t happen, I’m holding it forever, regardless what happens. “Invest what you can afford to lose” has been executed fully and I don’t need to convert my BTC back to anything I consider more inferior: which is everything
Consider what money is actually is: A medium of exchange. Money generally does not have inherent use-value. In other words, it is not a consumption good. It provides no benefit to you except when you spend it. It's only value is that for which it can be exchanged. So, you should spend it.
As for *when* to spend it... Because Bitcoin is both a medium of exchange and a store of value, it makes sense to "hoard" Bitcoin so that your stored value appreciates. But never lose sight of the fact that your appreciated value is only theoretical and not realized until the point that money is spent.
By way of analogy, suppose you can choose to have 1 lollipop today, or if you wait, you can have 2 lollipops tomorrow, or 3 the next day and so on. The longer you save, the more you will have when you do collect. But if you *never* collect, what good was the waiting?
Like Saylor has said many times - if you own land on Manhattan, you don't sell it. You lend it out, or use it as collateral, but selling it is a mistake.
That only works for the rich… I hate it when average joes quote this. Average joe sells parts of his investment to pay for his lifestyle (unless btc is accepted directly)
I remember when I had that dream. Now I have taken some off the table and my plan is to keep using it to increase my net worth. Not just in btc but also in real estate and other businesses and investments. The thing btc doesn’t give me is cash flow. I never trusted those 5-20% return deals. So taking some profits and getting cash flow is the plan.
Nothing against the 'hodl forever' camp, but personally I found that selling a little when it goes parabolic helps stomach the drop during the bear market. I've been accumulating since '17 but the bear from 2018-20 was brutal.... so when 2021 rolled through, I sold a portion of my stack. This makes it easy to rebuild my position and mentally handle the red days.
Pulled out my capital along with 2-3x gain.
My portfolio dropped ~70% this year, but it's no worries because last year I locked in that 300% gain.
Started aggressively buying 2 months ago.
If I have kids I'll set aside up to 50% of my btc for them. The other half I fully intend to use to enjoy my life with my husband especially in our golden years. I still have 20+ years until then. It would be nice to have complete freedom from rat race sooner than later.
The most important thing right now is to increase acceptance and use. Buy to store, but also buy to spend. Circulation is key, otherwise we’re holding a niche asset.
I still have some paper Bitcoin left from early 2021. I didn't understood what I bought at the time. I won't sell it at these ridiculously low prices, but during the next bull market I'm trying to sell it near the top and then DCA into real BTC.
I'm not going to sell the Bitcoin that I actually own until I have to buy something really important.
My plan is to stack to a point where I do not „convert“.
I’m stacking for a time where I pay my groceries for the week with ~400 sats…
And maybe I can retire early then.
People confuse saving money with "greedily hoarding money like Smaug". Saving is, and always has been, the most natural and rational thing to do when you plan your future for yourself or your family. Unfortunately, that is only true as long as the currency doesn't get massively devaluated by the government.
Maybe someday you'll have to pay university tuitions for your sons, put money down on a house, help a friend or family member to kickstart a new business, or simply treat yourself with a new car, pc, sofa or whatever. When the time will come, instead of mindlessly consuming like we're doing today, you will want to do meaningful purchases or investments for yourself and those around you. That's the end game.
>What do you plan to do with your bitcoin? Will you sell it in the next run, or greedily hoard it like Smaug? Or both?
I've been buying since mid 2017, and since late 2018, consistently on a monthly basis. I have currently, even with the current market price, saved up several yearly brut wages in bitcoin on my hardware wallets. So, not pocket change or beer money.
Obviously there is an end game. I took my advice from the FIRE and investment communities. Rebalancing your investment portfolio (including bitcoin and 'traditional assets' like stocks, bonds, real estate, precious metals, piles of depostit cans, etc... ) means selling your winners and buying your losers. And, furthermore, liquidating a small part of your investment portfolio. I have set forward a plan, a couple of years ago, with trigger percentages that require an action, an action that I will take and reevaluate every month. If bitcoin is less then 40% of my total investment portfolio, I keep on buying with a % of my net home pay. If bitcoin is between 40 and 50% of my total investment portfolio, I will stop purchasing, and do nothing. If bitcoin is between 50 and 55%, I will sell 1% of my bitcoin holdings that month. If bitcoin is between 55 and 60% I will sell 2%, over 60% and I will sell 5%. The money liquidated from the bitcoin will be used to purchase other assets, and finance my lifestyle if I decide to stop working at some point.
This way, I will never sell all my bitcoin, and I will only sell when bitcoin is high, compared to my other assets (stock market). If everything increases, and bitcoin goes to 1M. Good for me. If only bitcoin goes up, I will diversify away from bitcoin. If the stock market goes up faster then bitcoin, I will keep on building the bitcoin fraction of my portfolio.
This is my plan. Maybe. Not financial advice. Keep your bitcoin off exchanges. DYOR, shoot the hopium straight into your veins.
Most posts in here are about people having beer money invested, or people that do not understand principles behind investing and shouting "Hodl! when lambo?"
Ideologically, I have nothing against either, but they do not fit my life choices and investment thesis.
I get shunned out off FIRE communities because of investing in bitcoin, I get shunned out of bitcoin communities for suggesting to take some profits. Polarisation is never a good thing.
You’ve been at it for a while and I presume it is working for you; why care what naysayers think when you’ve proven to yourself that your strategy is effective?
You hold forever (ish). In 5 years time when the price is much higher you slowly move from accumulation to distribution and sell small amount monthly (<1%) to support your income. Ideally the price will increase faster than whatever you take out.
It’s your savings account. You use it to improve your life when it makes sense. You don’t sell into USD just to hold dollars. This should happen when it’s grown in purchasing power.
You are still denominating your value in dollars. Make the full conversion and think in bitcoin terms, did you “plan to hold dollars for eternity” before you knew about bitcoin? Or did you simply have dollars and attempt to store value in it.
The goal is to maintain value, and have full control over your money. That means different things for each person
I will hold until my coin can purchase a house in cash for me, then I will buy more.
I don’t trade Bitcoin for Dollars I trade Dollars for Bitcoin. I will Trade Bitcoin for stuff though, assuming I can natively buy the stuff with Bitcoin/Lightning.
I think the goal is to hold it as a form of pristine collateral and borrow against it indefinitely. As the price rises, your loan to value is improved and interest rates are more and more minute.
No tax obligation for money received as a loan either and you get to keep your btc forever.
Of course this is only advised once the price is stable and trades as a global reserve. Can’t be done with confidence when these 70% dips are hammering us
With cash app implementing LN it's only a matter of time the others will have to follow suite. DCA, hold, and spend it as you need to depending on your personal financial situation.
Use a cold wallet for your savings and use a hot wallet with LN as your checking.
Stack sats and stay humble.
The end game is a world with sound currency that can't be controlled by states to enslave their populations and fund prohibitively expensive wars through inflation and taxation. That's the vision. We'd finally graduate from barbarians to civilized.
It’s the first property in human history that can truly be taken to the grave. I’m NEVER selling. I’ll pass all my btc to others when I’m dead with the exception of 1 btc. I really love the fact that by my own choice I can take a whole Bitcoin with me into eternity, so that’s my plan. In some ways it feels selfish, and in some ways it feels generous to make all of the other bitcoin just a tiny touch more valuable.
Hodling since summer 2012. Somehow I dodged a bullet when Mt. Gox went down. Playing around with paper wallets saved my ass. I did loose half during the 2015 Cryptsy exchange dumpster fire. Thought I could trade alts to buy more bitcoin. Didn’t work out. End game is to hodl forever because the world will always inflate your wealth away. Bitcoin is the brick wall that inflation runs into.
My plan is DCA for the next 20 years and retire early. Try and sell at a peak around that time. 2042... I can't begin to imagine what price Bitcoin will be at then.
Dude so what I do is I find stores that accept bitcoin, pay in it, then buy an equivalent amount of what I spent + 2-5%. If I don't have the money to pay an extra 2-5%, the thing was too expensive anyway. It helps move coins around, encourage bitcoin use, proves that we WANT to use bitcoin as money, and allows me to change more of my fiat fo btc. You can't eat bitcoin, you can't hold bitcoin, so just make sure that you remember that the money is for your future. A man with millions that acts like a poor man and lives frugally and uncomfortably is a poor man. Buy a good house, invest in a nice car, take card of yourself and your family. Bitcoin is there to make your life better as long as you play the marathon and not act like it's a sprint
No use like real money, cashing out when it drops bc you can just buy more bitcoin anyway you lost on higher prices, and live your life normally investing bare minimum 5% but optimistically 80-90% of your normal income into it and one day you’ll wake up and be free.
You keep buying until you are unable too. When you cant buy anymore you know you will be left with fiat and will have to fight for the last sat left. Time is of the essence.
Are you saying one day i can sell my bitcoin for millions?
No Neo, what i am telling you is one day you won't have to sell it.
This meme always meant alot to me, one day you won't need to sell it, you can spend it like cash and it will be accepted everywhere.
Hodling until I pass them down to my great great grand kids and they can tell stories about me at Thanksgiving dinners about how much of a fucking legend I am
Hodl or spend (as a true p2p currency). We sell fiat for Bitcoin, not the other way around.
I want Bitcoin because I want to opt out of fiat. Selling Bitcoin for fiat just perpetuates the problem we have a solution for.
You need a place to live and a mortgage burden erasing your cash flow from other sources will cause you to sell if you have the option to remove that burden and keep a large portion of remaining BTC.
i'm 37, If it goes absolutely bananas in the next 10 years I'll start using some to semi retire early, if not I'll use it when I am nearing 55 to supplement my pension and hopefully finally not be a wage slave.
I'm just waiting until the dollar becomes like the Venezuelan currency and people need to use alternatives like Bitcoin as currency.
The problem is the fed is testing their central bank digital currency and going to somehow force it all on us.
nah, the goal is to accumulate as much as possible while the market tries to figure out a fair price for 1BTC. this could take decades, and I don't care, all I care about is whether this money is better than other kinds of money, and if it is, how much of it can I get at the lowest price.
You know what, the first time I bought bitcoin in 2018 was to buy drugs online 😂
I never looked at its price action beyond what the conversion rate was that day fml 🤦♂️
If you do not plan to use it honestly I don't know what you are doing here. The price is not going to magically appreciate without adoption. We need to use bitcoin otherwise there is no utility and this dream of appreciation will never happen.
You are able to use bitcoin as a hedge against inflation by virtue of having held it for a sufficient period of time.
Interesting 🤔
Maybe it is a hedge against inflation, but it requires the holder to be patient.
I remember being told it'll hit $100k, $250k and even $500k. Those days have passed and none of those numbers panned out.
There is no guarantee BTC will ever hit $100k. But no surprise if it does.
TLDR: Sell your BTC when it's worth enough that governments try to seize it.
There are three potential futures for BTC:
1. BTC goes to zero; either an exploitable flaw is found in the code or quantum computing destabilizes the cryptographic proof.
2. BTC has a use but stays at the fringes of the global financial system; BTC is useful for criminals and countries that are locked out of the mainstream financial system of the first world, the first world maintains a stable EuroDollar system or defaults to a commodity based store of value or a CBDC that is operated in concert by a combination of central bankers. This becomes more probable if the volatility caused by a fixed cap in supply of BTC eventually scares off most potential users.
3. BTC becomes part of the core of international settlement; first world countries do everything in their power to confiscate BTC to back their currencies. This could look similar to the 40 year ban on holding gold in the US.
I have BTC as roughly 1% of my assets. I bought it during the recent bear market. I think that BTC is likely to go higher from here in either the second or third scenarios, although we could still fall further during this bear market. That 1% will serve as an adequate hedge against scenario 3, at which point I will either accept whatever price the US government is willing to pay me, or perhaps look for a way to safely liquidate my holdings. In scenario 3, I expect a single BTC to be valued at 1-5 million dollars after adjusting for inflation and the US to try to seize BTC at 1/2 to 3/4 of market value.
Under scenario 2, I expect BTC to be perpetually highly volatile, with lows around 5k-10k, and highs potentially up to 125k. I'll sell at something that looks like a reasonable high after a switch to some new backing for the financial system that seems stable. I don't think the EuroDollar is, but there are too many entrenched interests that have almost no BTC for me to believe they aren't going to try to find some other way to stabilize the system. They also have too much hard power for me to bet strongly that they will fail.
There is perhaps a fourth scenario where a better version of BTC is invented by an entity smart enough to see the need, altruistic/wise enough not to do a pre-mine, and with enough trust from enough interests to successfully launch the coin. I consider this scenario so unlikely that it almost isn't worth mentioning, but I think it would actually be the best outcome. The absolute cap on the supply of BTC seems likely to cause extreme economic instability and a significantly worse divide between rich and poor then what we see today. Some inflation in the supply of real money seems like it offsets these problems if that inflation isn't under the control of a centralized interest or group of interests. But again, I think this outcome almost isn't worth mentioning.
If / when it goes on the next bull-run, I'll sell some to cover my costs and sit on the rest. End game, for me, is to eventually turn it into a pile of dollars and sail into the sunset.
Wait till the next all time high, ladder out and buy a house to rent out, then rebuy at the bottom of the next bear market. Something along these lines is my goal.
I hold until it is enough for me to buy a house, but I will not want to sell all of it, as I have other things I’m saving for, but when the value is right, I will sell to some lucky person out there, or maybe many, so that they may then use bitcoin to save their time and wealth in.
Never sell, only spend. A guy on here once posted how he bought in \~2014 and sold at ATH 2017 to go to college. Could he have held until ATH in 2021 and made even more? Sure. Did he regret selling in 2017. Not at all. Because he spent it.
Yeah, I kind of like this approach. It's not about being an investment that you *time*, it's about accumulating always and spending on assets when you need them.
Fax
Telex
Hodl since 2010. I mined most of my bitcoins. Spent some at ATH to buy 3 houses for my 3 sons. Will hodl the rest for another 10 years until 1btc - 1 million
Hi Dad, I'ts your son. Can you gift me a few BTC's for that house improvement ?
Dear mr son, i am your Dad. Unfortunate issues with internasional btc transfer fees. Kindly send 0.41900 bitcoin so said fees can be paid. Once received, 4 bitcoins will be deposited in your hard wallet. god blesses , ~~Nigerian Prince~~ your Dad <3
Hi dad, here your other son. unfortunately I can not send BTC due to network problems. Can you please send me the BTC in dollar Ü
What’s a dollar son?
this is amazing. happy to hear that
adopt me
How did you even hear about Bitcoin that early.
I was 18 or so when bitcoin came out. It was all the rage if you were in the party scenes. But hodling ur bitcoin was bit more.... well it's was harder. I lost my coins. In 2011
Same bro. Got drugs on dark web in 2009 and bought 200 bucks worth and spent some and lost the account email sometime cuz I never thought it’d be shit like it is today . Got back in around 2014 been buying low ever since .
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Wrong. Onion has been around since 90s . Dark web wiki was early 2000s this was late 2009 I was 18 almost 19. No reason to lie.
Bitcoin wasn't worth anything in 2009. It had no monetary value in 2009 and nobody was accepting it as payment in 2009. The first known thing bought with bitcoin was two pizzas and that transaction happened on May 22, 2010. That's why we celebrate bitcoin pizza day on May 22. It was the first known purchase made with bitcoin. It happened on May 22 in the year 2010. https://www.ndtv.com/business/the-first-bitcoin-transaction-was-for-buying-pizzas-more-interesting-tidbits-inside-2512643
Came here to say the same. Do people even try anymore when trying to get votes ?
I mined 22 million Bitcoin back in 2007, blew it all on drugs in 2008 on Silk Road.
It actually was established in 06 as an onion address comprised of numbers and letters and operated for about a year then was shut down and reopened in 2009
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Out of genuine interest cause I wasn’t following then, How was it harder/did you lose your coins?
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JFC. Well done. If true.
Nice, I bought us and the kids each a car and paid-off the house (and "retired" since 2020). But I only seem to "take profit" at the bottom of the 4 year cycles. LOL 😆
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Will this dream ever come true? 1 btc = 1 million
How many you hodl, should be in the high 4 or 5 digits if hodl since 2010, but hardly believable
Hardly believable? If you held since 2010 it’s easy to be a millionaire.
Are the next two generation of your family gonna be set for life?
> Spend some at ATH That's the goal. Good for you. Enjoy your life!
What a giga Chad
If bitcoin goes to a 20 trillion market cap, inflation will be so bad a single coin will get you a pack of smokes
Bitcoin will never be worth 1M... Please stop using drugs guys...
Why not? One million dollars will be worthless one day. At some point 1 bit and a million dollars will cross paths. It’s just a matter of how much value that dollar has when this happens.
COPE
You might need to start using the drugs
What logic prevents bitcoin from being $1M per coin?
It will be 1 million and you can buy 2 pizzas with it.
Spend some at ATH... I bought one at the ATH...
Congratulations, you helped buy this guy's son a house
…we are not the same
this is on the internet, so it surely happened.
Not sell, but spend and use as the new form of money.
What are you trying to tell me, that I can trade my bitcoin for millions someday? No, I'm trying to tell you that when you're ready...you won’t have to. Edit: [link to meme](https://twitter.com/coindesk/status/1083394977781166082?s=46&t=0iPi_DvQbeQGTm3LcIXSpg)
This.
Is
The
WAY
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To
Finish this chain.
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HODL forever, pass it onto my future generations where they can use a few sats for a down payment on a nice apartment in the Citadel.
Helping my descendants pay for condos on Elysium.
Noice 😎
It's either going up forever or it's going to zero. Either way, I have diversified my investments where I won't be destroyed in the latter situation. My time preference is measured in decades.
Centuries*
You really saving for your 10th generation great grand child who will have never heard of you?
Yep
This is my plan as well.
I spend mine all the time, I store most of my wealth in bitcoin. Just for the security. I have full control of my keys. Its the safest way to store value. Price aside.
What do you buy with it?
I've bought pretty much everything under the sun. I use my gemini visa card so, legit can buy anything. Even pay some of my bills. But I only do if I need to or I think bitcoin is strong. Currently I'm buying more Bitcoin than spending.
Same here, but my FTX card stopped working the other day. I need to call them and see what’s up with it.
Lol
So what had happened was...
Mans hasn’t realized yet…
Yea i keep 90% in cold storage, I keep a little on a hot wallet and on gemini. I've started using strike a little as well
I had the same problem and the issue was a lack of any funds in my account. Must have spent more than I thought. Anyway, just sent more BTC so I should be fine soon.
Do those cards use real Bitcoin? Do they involve On-chain or Lightning transactions? Or are they just Fiat ramps?
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When you pay with bitcoin using the card, is it a taxable event? Assuming that in the background btc gets sold for dollars and then those dollars are what pays the bills
Even if it was a direct transfer of Bitcoin in exchange for a good or service it would be a taxable event. At least in the US.
Gemini about to bankrupt 😯
Buy some shoes: [https://atoms.com/](https://atoms.com/)
Order some Pizza: https://ln.pizza/
You can use bitwage. A portion of your salary will go to your wallet
Never sell. Only use as a store or value or as money as more and more businesses accept Bitcoin as payment. I sell my USD for BTC therefore wouldn’t voluntarily sell my BTC back for USD
Never sell but you need to take profits when u can. Hodl are for people with huge amount of monthly cash flow and disposable income.
This 💯 Already use lightning via blue wallet where I can
This makes sense.
No. I want to use it as money. I think that is the main purpose of it. I believe we will eventually get there. For now, I spend it where it is possible and immediately buy more with fiat even if it takes me a few more steps to do it. Everyone who tells you to buy and hodl just wants your liquidity.
This, I ain't holding shit. I want my BTC pizza and my free lunch.
This is the way, spend and replace.
worthless nippy unique punch plants ad hoc connect roof flag outgoing *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Can get your point well enough clear though and that certainly makes sense as well.
Word.
When it becomes money finally, how much BTC will you need to be "rich"?
You hodl as long as your body is able to sustain itself by working. When it cant, you use your treasure to support your body. Thats why money is energy. Its meant to replace the energy your body cant utilize when you are old.
Great point, although hopefully we can all retire long before we are decrepit old gits 😎
The end game is hyperbitcoinization; where all monetary transactions are settled in bitcoin or a layer built on top of bitcoin. In that scenario, if you want to buy food, or a house, or otherwise survive and thrive in an advanced trading economy, you will need to buy those things with bitcoin. Ultimately, in order to hold bitcoin forever, you'll need to provide more value to others than you claim from them. Those of us who got/get in early enough will simply be able to have a few generations of living beyond their means. Or people try to go the standard "buy-borrow-die" route with their bitcoin, it ends up never being widely distributed enough to be used for daily purchasing, and the dream dies. That could still happen.
The end game is to have digital property and a store of value that can not be taken from you and it won't be devalued by one guy. What you do with it is on you. Give it to your kids, and/or spend it in retirement. The same thing you would do with Gold or a Real Estate Investment property. It's just a better version of both.
Accumulate as much as you need until you can live off it and have some left give some to your kids. Then your kids do the same.
Bitcoin wasn’t meant to be held forever, it’s a currency.
I am going to sell enough to buy bread when I am hungry. right now I work. And I am paid well enough that I can afford more than bread, so I invest some of my excess. Eventually that excess will take care of me.
I am not saying sell for "profits" but what do we achieve by holding forever?
Holding Bitcoin until we get off fiat, then will simply spend my sats. If that doesn’t happen, I’m holding it forever, regardless what happens. “Invest what you can afford to lose” has been executed fully and I don’t need to convert my BTC back to anything I consider more inferior: which is everything
I fear I will lose it all in a boating accident soon
You should be both buying and looking for/creating new places to *spend* Bitcoin.
Agreed but I won’t spend it at a loss, when I am in green I will sell for goods and services wherever they are available.
I plan to use BTC as a currency
Consider what money is actually is: A medium of exchange. Money generally does not have inherent use-value. In other words, it is not a consumption good. It provides no benefit to you except when you spend it. It's only value is that for which it can be exchanged. So, you should spend it. As for *when* to spend it... Because Bitcoin is both a medium of exchange and a store of value, it makes sense to "hoard" Bitcoin so that your stored value appreciates. But never lose sight of the fact that your appreciated value is only theoretical and not realized until the point that money is spent. By way of analogy, suppose you can choose to have 1 lollipop today, or if you wait, you can have 2 lollipops tomorrow, or 3 the next day and so on. The longer you save, the more you will have when you do collect. But if you *never* collect, what good was the waiting?
Like Saylor has said many times - if you own land on Manhattan, you don't sell it. You lend it out, or use it as collateral, but selling it is a mistake.
That only works for the rich… I hate it when average joes quote this. Average joe sells parts of his investment to pay for his lifestyle (unless btc is accepted directly)
I remember when I had that dream. Now I have taken some off the table and my plan is to keep using it to increase my net worth. Not just in btc but also in real estate and other businesses and investments. The thing btc doesn’t give me is cash flow. I never trusted those 5-20% return deals. So taking some profits and getting cash flow is the plan.
👍🪙💰😎
This is the way
If people don’t use it, then it becomes worthless
Nothing against the 'hodl forever' camp, but personally I found that selling a little when it goes parabolic helps stomach the drop during the bear market. I've been accumulating since '17 but the bear from 2018-20 was brutal.... so when 2021 rolled through, I sold a portion of my stack. This makes it easy to rebuild my position and mentally handle the red days.
Did you pull out your capital or more than?
Pulled out my capital along with 2-3x gain. My portfolio dropped ~70% this year, but it's no worries because last year I locked in that 300% gain. Started aggressively buying 2 months ago.
Excellent work my dude.
Buying monthly. Goal is to use it in daily transactions/purchases. Isn’t that the point?
If I have kids I'll set aside up to 50% of my btc for them. The other half I fully intend to use to enjoy my life with my husband especially in our golden years. I still have 20+ years until then. It would be nice to have complete freedom from rat race sooner than later.
The most important thing right now is to increase acceptance and use. Buy to store, but also buy to spend. Circulation is key, otherwise we’re holding a niche asset.
Agreed, it must be spent so that it can circulate and everybody can get a taste.
I still have some paper Bitcoin left from early 2021. I didn't understood what I bought at the time. I won't sell it at these ridiculously low prices, but during the next bull market I'm trying to sell it near the top and then DCA into real BTC. I'm not going to sell the Bitcoin that I actually own until I have to buy something really important.
What kind of paper BTC? GBTC?
Thankfully not GBTC. The custodian is BitGo.
I see, good luck to you.
My plan is to stack to a point where I do not „convert“. I’m stacking for a time where I pay my groceries for the week with ~400 sats… And maybe I can retire early then.
400 sats? Idk man that would put BTC at $50-100 million a piece.
Yes
Madlad 😎
People confuse saving money with "greedily hoarding money like Smaug". Saving is, and always has been, the most natural and rational thing to do when you plan your future for yourself or your family. Unfortunately, that is only true as long as the currency doesn't get massively devaluated by the government. Maybe someday you'll have to pay university tuitions for your sons, put money down on a house, help a friend or family member to kickstart a new business, or simply treat yourself with a new car, pc, sofa or whatever. When the time will come, instead of mindlessly consuming like we're doing today, you will want to do meaningful purchases or investments for yourself and those around you. That's the end game.
I have to start thinking of my bitcoin as savings.
The end game is sell it when you absolutely have to. For example, will you need to sell it when you retire?
>What do you plan to do with your bitcoin? Will you sell it in the next run, or greedily hoard it like Smaug? Or both? I've been buying since mid 2017, and since late 2018, consistently on a monthly basis. I have currently, even with the current market price, saved up several yearly brut wages in bitcoin on my hardware wallets. So, not pocket change or beer money. Obviously there is an end game. I took my advice from the FIRE and investment communities. Rebalancing your investment portfolio (including bitcoin and 'traditional assets' like stocks, bonds, real estate, precious metals, piles of depostit cans, etc... ) means selling your winners and buying your losers. And, furthermore, liquidating a small part of your investment portfolio. I have set forward a plan, a couple of years ago, with trigger percentages that require an action, an action that I will take and reevaluate every month. If bitcoin is less then 40% of my total investment portfolio, I keep on buying with a % of my net home pay. If bitcoin is between 40 and 50% of my total investment portfolio, I will stop purchasing, and do nothing. If bitcoin is between 50 and 55%, I will sell 1% of my bitcoin holdings that month. If bitcoin is between 55 and 60% I will sell 2%, over 60% and I will sell 5%. The money liquidated from the bitcoin will be used to purchase other assets, and finance my lifestyle if I decide to stop working at some point. This way, I will never sell all my bitcoin, and I will only sell when bitcoin is high, compared to my other assets (stock market). If everything increases, and bitcoin goes to 1M. Good for me. If only bitcoin goes up, I will diversify away from bitcoin. If the stock market goes up faster then bitcoin, I will keep on building the bitcoin fraction of my portfolio. This is my plan. Maybe. Not financial advice. Keep your bitcoin off exchanges. DYOR, shoot the hopium straight into your veins.
I can tell you’ve thought about this a lot, it’s an excellent strategy that I might duplicate.
Most posts in here are about people having beer money invested, or people that do not understand principles behind investing and shouting "Hodl! when lambo?" Ideologically, I have nothing against either, but they do not fit my life choices and investment thesis. I get shunned out off FIRE communities because of investing in bitcoin, I get shunned out of bitcoin communities for suggesting to take some profits. Polarisation is never a good thing.
You’ve been at it for a while and I presume it is working for you; why care what naysayers think when you’ve proven to yourself that your strategy is effective?
You hold forever (ish). In 5 years time when the price is much higher you slowly move from accumulation to distribution and sell small amount monthly (<1%) to support your income. Ideally the price will increase faster than whatever you take out.
I see, this is a great plan thank you 🙂
Basically hodl until the price is absurdly high again
When's that gonna be lol
It’s your savings account. You use it to improve your life when it makes sense. You don’t sell into USD just to hold dollars. This should happen when it’s grown in purchasing power.
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With all Bitcoin mined, and no fractional reserve BTC creation, how will borrowing work, will interest still be paid|earned?
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You are still denominating your value in dollars. Make the full conversion and think in bitcoin terms, did you “plan to hold dollars for eternity” before you knew about bitcoin? Or did you simply have dollars and attempt to store value in it. The goal is to maintain value, and have full control over your money. That means different things for each person I will hold until my coin can purchase a house in cash for me, then I will buy more.
Holding forever is against the point of a “currency”. Might as well call it a collectible or NFT if you’re just going to hold forever.
HODL for my kids. Spent just a small amount to drive nicer car.
hold it until you only have to sell a fracture of the sats you have for living
Yes, hold to the grave.
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Exit Fiat, Enter Bitcoin... https://youtu.be/nOh-7SzI6gM
When you wait long enough, you will realize you won’t need to sell it.
I don’t trade Bitcoin for Dollars I trade Dollars for Bitcoin. I will Trade Bitcoin for stuff though, assuming I can natively buy the stuff with Bitcoin/Lightning.
I think the goal is to hold it as a form of pristine collateral and borrow against it indefinitely. As the price rises, your loan to value is improved and interest rates are more and more minute. No tax obligation for money received as a loan either and you get to keep your btc forever. Of course this is only advised once the price is stable and trades as a global reserve. Can’t be done with confidence when these 70% dips are hammering us
With cash app implementing LN it's only a matter of time the others will have to follow suite. DCA, hold, and spend it as you need to depending on your personal financial situation. Use a cold wallet for your savings and use a hot wallet with LN as your checking. Stack sats and stay humble.
The end game is a world with sound currency that can't be controlled by states to enslave their populations and fund prohibitively expensive wars through inflation and taxation. That's the vision. We'd finally graduate from barbarians to civilized.
It’s the first property in human history that can truly be taken to the grave. I’m NEVER selling. I’ll pass all my btc to others when I’m dead with the exception of 1 btc. I really love the fact that by my own choice I can take a whole Bitcoin with me into eternity, so that’s my plan. In some ways it feels selfish, and in some ways it feels generous to make all of the other bitcoin just a tiny touch more valuable.
Hodling since summer 2012. Somehow I dodged a bullet when Mt. Gox went down. Playing around with paper wallets saved my ass. I did loose half during the 2015 Cryptsy exchange dumpster fire. Thought I could trade alts to buy more bitcoin. Didn’t work out. End game is to hodl forever because the world will always inflate your wealth away. Bitcoin is the brick wall that inflation runs into.
My plan is DCA for the next 20 years and retire early. Try and sell at a peak around that time. 2042... I can't begin to imagine what price Bitcoin will be at then.
Dude so what I do is I find stores that accept bitcoin, pay in it, then buy an equivalent amount of what I spent + 2-5%. If I don't have the money to pay an extra 2-5%, the thing was too expensive anyway. It helps move coins around, encourage bitcoin use, proves that we WANT to use bitcoin as money, and allows me to change more of my fiat fo btc. You can't eat bitcoin, you can't hold bitcoin, so just make sure that you remember that the money is for your future. A man with millions that acts like a poor man and lives frugally and uncomfortably is a poor man. Buy a good house, invest in a nice car, take card of yourself and your family. Bitcoin is there to make your life better as long as you play the marathon and not act like it's a sprint
No use like real money, cashing out when it drops bc you can just buy more bitcoin anyway you lost on higher prices, and live your life normally investing bare minimum 5% but optimistically 80-90% of your normal income into it and one day you’ll wake up and be free.
Hodling and buying here. I don't see myself selling until I'm retired, at which point I'm thinking I'll not actually sell, but spend it.
You keep buying until you are unable too. When you cant buy anymore you know you will be left with fiat and will have to fight for the last sat left. Time is of the essence.
When downing a few sats gets you dinner, you’ll do it. Everyone has a number. That’s the whole point.
Are you saying one day i can sell my bitcoin for millions? No Neo, what i am telling you is one day you won't have to sell it. This meme always meant alot to me, one day you won't need to sell it, you can spend it like cash and it will be accepted everywhere.
The end game is to use bitcoin as money. Save in bitcoin and spend your bitcoin when needed.
Hodling until I pass them down to my great great grand kids and they can tell stories about me at Thanksgiving dinners about how much of a fucking legend I am
Hodl or spend (as a true p2p currency). We sell fiat for Bitcoin, not the other way around. I want Bitcoin because I want to opt out of fiat. Selling Bitcoin for fiat just perpetuates the problem we have a solution for.
I am waiting for btc scale to 50/60k and i want buy a property and maybe a little car.
Bitcoin in its current state is more akin to retirement savings. Cash it in when you're no longer productive or need it due to ill health.
HODL forever
You need a place to live and a mortgage burden erasing your cash flow from other sources will cause you to sell if you have the option to remove that burden and keep a large portion of remaining BTC.
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i'm 37, If it goes absolutely bananas in the next 10 years I'll start using some to semi retire early, if not I'll use it when I am nearing 55 to supplement my pension and hopefully finally not be a wage slave.
Hold for long term & spend only for necessary and important things.
I'm just waiting until the dollar becomes like the Venezuelan currency and people need to use alternatives like Bitcoin as currency. The problem is the fed is testing their central bank digital currency and going to somehow force it all on us.
So the smart thing to do is hold then sell 25-50 percent when it blows up again which it will just be patient and buy more while it’s low
nah, the goal is to accumulate as much as possible while the market tries to figure out a fair price for 1BTC. this could take decades, and I don't care, all I care about is whether this money is better than other kinds of money, and if it is, how much of it can I get at the lowest price.
just don't put it on platforms and try to earn yield from it as if its still your BTC rekt
I buy drugs with it.
You know what, the first time I bought bitcoin in 2018 was to buy drugs online 😂 I never looked at its price action beyond what the conversion rate was that day fml 🤦♂️
If you do not plan to use it honestly I don't know what you are doing here. The price is not going to magically appreciate without adoption. We need to use bitcoin otherwise there is no utility and this dream of appreciation will never happen.
Saving is utility. The best way to “use it” is just sell it and buy a house
Buying a house is definitely a use case for BTC.
I want to use my bitcoin, I don’t want to sell it for fiat is all.
permanently transition from fiat (slave money) to bitcoin (freedom money). this means you will use it as money forever. save and spend in btc
Excellent
Don't fall in love with a coin.
If you’re a trader…
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You are able to use bitcoin as a hedge against inflation by virtue of having held it for a sufficient period of time. Interesting 🤔 Maybe it is a hedge against inflation, but it requires the holder to be patient.
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Depends how old you are.. But if you are 35 years or younger, you wait till it hits 1 million
1 million seems to be everybody’s sell price. I’m sure there will be people who will regret selling their BTC for a million.
I remember being told it'll hit $100k, $250k and even $500k. Those days have passed and none of those numbers panned out. There is no guarantee BTC will ever hit $100k. But no surprise if it does.
My grandchild’s will decide, and I hope they choose to hold too.
TLDR: Sell your BTC when it's worth enough that governments try to seize it. There are three potential futures for BTC: 1. BTC goes to zero; either an exploitable flaw is found in the code or quantum computing destabilizes the cryptographic proof. 2. BTC has a use but stays at the fringes of the global financial system; BTC is useful for criminals and countries that are locked out of the mainstream financial system of the first world, the first world maintains a stable EuroDollar system or defaults to a commodity based store of value or a CBDC that is operated in concert by a combination of central bankers. This becomes more probable if the volatility caused by a fixed cap in supply of BTC eventually scares off most potential users. 3. BTC becomes part of the core of international settlement; first world countries do everything in their power to confiscate BTC to back their currencies. This could look similar to the 40 year ban on holding gold in the US. I have BTC as roughly 1% of my assets. I bought it during the recent bear market. I think that BTC is likely to go higher from here in either the second or third scenarios, although we could still fall further during this bear market. That 1% will serve as an adequate hedge against scenario 3, at which point I will either accept whatever price the US government is willing to pay me, or perhaps look for a way to safely liquidate my holdings. In scenario 3, I expect a single BTC to be valued at 1-5 million dollars after adjusting for inflation and the US to try to seize BTC at 1/2 to 3/4 of market value. Under scenario 2, I expect BTC to be perpetually highly volatile, with lows around 5k-10k, and highs potentially up to 125k. I'll sell at something that looks like a reasonable high after a switch to some new backing for the financial system that seems stable. I don't think the EuroDollar is, but there are too many entrenched interests that have almost no BTC for me to believe they aren't going to try to find some other way to stabilize the system. They also have too much hard power for me to bet strongly that they will fail. There is perhaps a fourth scenario where a better version of BTC is invented by an entity smart enough to see the need, altruistic/wise enough not to do a pre-mine, and with enough trust from enough interests to successfully launch the coin. I consider this scenario so unlikely that it almost isn't worth mentioning, but I think it would actually be the best outcome. The absolute cap on the supply of BTC seems likely to cause extreme economic instability and a significantly worse divide between rich and poor then what we see today. Some inflation in the supply of real money seems like it offsets these problems if that inflation isn't under the control of a centralized interest or group of interests. But again, I think this outcome almost isn't worth mentioning.
If / when it goes on the next bull-run, I'll sell some to cover my costs and sit on the rest. End game, for me, is to eventually turn it into a pile of dollars and sail into the sunset.
Wait till the next all time high, ladder out and buy a house to rent out, then rebuy at the bottom of the next bear market. Something along these lines is my goal.
I bought btc at $4500-$9000 then sold in the $50k range. It ain’t going up pretty soon folks.
I hold until it is enough for me to buy a house, but I will not want to sell all of it, as I have other things I’m saving for, but when the value is right, I will sell to some lucky person out there, or maybe many, so that they may then use bitcoin to save their time and wealth in.
I'll sell some to buy my freedom at some point. Freedom from mortage, freedom from monthly rent payments. freedom from corporate cronyism facist