Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
lightfoot
on 18/01/2018, 12:28:10 UTC
This. You're not really meant to have money that you need for bills in any class of assets in the first place. So having to withdraw is, in most cases, just a result of poor investment decisions. There are very few exceptions which are so extraordinarily rare that they won't even apply to the vast majority of people who "had to withdraw money" unless they fucked up and put in way too much to begin with. Like that guy on Twitter who took out a mortgage on his house during the Bitcoin peak and put it all in even though he has a family and kids.

In this case, Searing (and myself for different reasons) earns coins by doing work (mining for him, fixing for me). This incurs certain expenses (taxes, power, parts, shipping, etc) which must be paid for at regular intervals. So you sell coins you make at those intervals to pay the bills.

A portion of my earnings goes into a long term savings/investing account, but a portion always goes into op ex, some to cap ex, and some to taxes/fees.

Anything else is what we call "timing the market" or "gambling" which is not the primary purpose of the business.

C