Quote from: becoin on February 06, 2019, 11:24:50 PM

Quote from: Cryptotourist on February 06, 2019, 10:00:28 PM

You got to know when to take the profit/loss.

I keep my profit only in bitcoin. When I pay my loss I pay in bitcoin.

If I was a tourist like you I'd have sold my bitcoins at $500 like Mike Hearn did. Tourists come and go. We live here. For us bitcoin is something much more than just money! And bitcoin is rewarding us since 2009.

You'll take your profit at $5000 and when bitcoin gets beyond $50000 from cryptotourist you'll become cryptohater like so many people before you during the last 10 years! Just because they thought they knew when to take the profit/loss.

You speak a decent amount of truth here, becoin. Long term BTC hodlers are likely not going to need to worry about exactly when they take their profits or cash out a certain amount of BTC to pay some fiat expenses, because the reason has been that they mostly HODL through the UPs and the DOWNs, and when looking back at the long term, they have accumulated way more value by NOT attempting to time UPs and DOWNs, even while accumulating more and more BTC through the whole time.

Sure, could have had more BTC to sell more at higher prices, yet does not really matter too much because higher priority goes to buying on a regular basis and especially dips.

TLDR: No need to either be playing around with alts nor selling large amounts of bitcoin... and you as long as you are accumulating BTC, you are likely to do quite well, financially.