Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
I can't believe I sold all just under 500! I was so happy to have over a half million $ that I couldn't wait. Oh well, I guess all I can do is sit in my new completely paid off house and cry. lol
You sold all? Really?
IMO at current BTC valutation selling "for good" (to cash in fiat profits) more than 35% of ones BTC stash is completely crazy, regardless of when you bought in.
If you bought in low double digits/single digits, then your profits are SO HUGE that selling only 20% will grant you a massive gain, while you still keep bullets for the "next round".
If you bought just a few weeks/months ago, then selling 20% is probably enough to recover your full investment, while you keep riding the BTC trading.
In any case, selling all seems like something you will bitterly regret in the near future. I guess you dig in the forums and read the stories of those who sold tens of k's of coins in 2011 (if not hundreds of thousands of coins), bought a nice house and a nice car and retired from the BTC scene for good. Just 2 years after those guys would be so wealthy that their kids and the kids of their kids would be all set for life.
Yep - it might not happen. But its the kind of opportunity you just cannot afford to lose
I already kind of regret it but I mined for most of my coin so long ago and this is such a giant windfall that it's hard to not be happy.
Well, I kinda admire you. I've learnt so much from the stories of Sirius and other early adopters who said "OK" and "resigned" themselves by cashing out $500k - $1.5M in 2011 and lost the opportunity to have now x40 of that amount just two years later, that I could NEVER think of going full fiat unless I'd be in a super serious need. (Sirius is not the only example, the other guy from the "hackers club" who was believed to be Satoshi cashed out +77k coins too in 2011)
In fact, I think that I will probably end up holding BTC when it finally implodes... "Never go full fiat" really sticked into my head.
Let me add that I'm not against taking profits: I've already cashed in for good aprox. ten-fold of what I originally invested in BTC, and I have an "exit plan" that comprends different sells at different price levels (first big step was a few days ago at $675 - but I still hold the vast majority of my BTC). Its just that my plan does not contemplate "full fiat" unless I reach the point in which money will never be an issue anymore for me or my kids.