Quote from: kingcolex on February 14, 2019, 01:12:33 AM

Quote from: JayJuanGee on February 14, 2019, 12:56:14 AM

Quote from: Biodom on February 13, 2019, 08:26:11 PM

Quote from: Globb0 on February 13, 2019, 08:18:33 PM

Quote from: Biodom on February 13, 2019, 08:13:50 PM

[edited out]

Funny I was thinking this earlier in terms of fungibility.

The interest you get from the bank is so they can use your money while you aren't right?

If a service was made to centrally hold bitcoin securely so you don't have to worry, it wouldn't risk the fund at all just cold storage as a promise.

But then, what? no interest?? in fact the opposite, how much will you pay per year for bitcoin fort knox. With guaranteed 1 for 1 you own it coins?

Some percent a year?

Yes, good one, but imagine a situation where you are a middle class guy/gal with a bitcoin stash from 2012 (not me, I bought much later Grin

).
You suddenly got 5, 10, 20 mil $$ in 2021-2025 from your 20 btc that you bought for a couple of hundred $$.
You still got no cash...
The size of your stash would probably cause you to sell a large %%, then try to explain where the immense hoard of $$ come from.
Retain good records, lol.

I don't see how that is a problem. You can easily sell a little bit. You don't have to sell the whole stash. You sell enough to cover your expenses for the next few years... or you sell a little bit at various stages on the way up... Where is the problem, exactly?

I think the fallacy is that you're supposed to sell everything at the top or you lose out.

Fair enough.

Seems like a gamblers mentality to me to be thinking that a BTC HODLer has to sell large increments of the BTC stash in order to profit from a BTC price run up, and sure I have no damned idea where this particular BTC price correction is going to stop (how low will we go), but when I sold incrementally all the way up to $20k, I had so much damned fiat that I did not know what to do with it. And, I was only selling small amounts. About 1% of my stash for every 10% the price went up (approximately).

However, now after the BTC price came back down, a lot of that fiat that I had generated on the way up had gone towards repurchases of bitcoin.. ... problem solved about knowing what to do with all the extra money.... but even so, I did not have to buy back BTC with those funds, and I would have been fine with that, too.

The main reasons that I bought back BTC back all the way down is that I already have a decent fiat cashflow, so the repurchase of BTC with sales proceeds from all that fiat that had been generated had seemed as a decently logical application.

Of course, in hindsight, anyone could argue that I should have waited to buy BTC back at $3,500 rather than buying at $15k and $12k and $9k and $7k and $5k..... and the various increments in between... but I kind of see the whole buying back of BTC on the way down situation as a BIG FUCKING SO WHAT? It is part of a system that I already created for myself.. and there was no clear picture that the BTC price was going to continue to go down or to come down to the current price with decent odds of going lower, and that money that had been generated was partly intended for buying back of BTC.

So, if the BTC price goes up to $20k or $100k or whatever, I don't see what kind of problem that there is that BTC is not generating a separate cash flow, because anyone who is holding BTC can shave off any amount of BTC all the way up to those various price points at any amount s/he has and at any price point that s/he wants. Not a bad problem to have been HODLing BTC if the price happens to go up, and the potential sales price is larger than the already known purchase price.