Quote from: somac. on Today at 01:20:27 AM

Quote from: JayJuanGee on Today at 12:26:14 AM

Quote from: somac. on February 20, 2021, 10:58:39 PM

Quote from: UnDerDoG81 on February 20, 2021, 10:53:25 PM

These people who sell are always a step ahead. After 8 years of hodling I was ready to sell my first small amount BTC (not the one I bought Oct 2020) at $59444. And they knew many people will sell at 59k ish so they started the sell off at 57k Roll Eyes

Now I will rethink if I sell below $99k Cool

How about don't sell at all. At these price levels, there are ways to make an income of 10s of thousands USD a month on your exsisting stash without selling. This applies to stashes under 10 BTC too. Life is good at these levels.

Fuck third-party custody, if you are considering or enticed by anything that involves that.

There are some concepts in bitcoin.. the real deal bitcoin, that incentives are built in, so bitcoin is already designed to increase in value.. .what the fuck more do you need, you greedy fucks (#nohomo) who may well be seriously considering placing your coins with some stupid-ass service trying to claim legitimacy and enticing you with supposed "passive income" .. blah blah blah..

Did I say, "fuck that?" Don't be fucking trying to short-cut your BTC accumulation goals by thinking that you can "make money" using convoluted (surprise terms) contracts when if you accumulate adequately, then you will have way more options just living off the likely ongoing BTC price appreciation that has no real signs of stopping, even though it it is likely to continue to have up and down cycles along the way.. and you can take advantage of that in your long term planning and your refusal to take stupid-ass shortcuts that may well end up screwing you out of your coins by hook or by crook or just by bad luck (such as great price moves that liquidate you out of your supposed collateral that you were not able to adequately cover because you were to fucking busy gambling out of greed).

You will thank me later, even if you might not be able to measure what you are thanking me for, exactly... Wink

The thing you fail to grasp is that by selling covered call options to fund my lifestyle and purchases I will not be reducing my stack, In fact it will even help me accumulate more then I could before. What's more, I don't have to risk keeping my BTC on the exchange to still have it fully cover my calls. I can use margin so that those coins are kept in my own wallet (not the exchange). A little diversification is not a bad thing, especially when you don't have to sell BTC from your stack to do it.

I think the trouble some of you have with this may be a lack of understanding/experience with derivatives in general. I can get almost 10% per month with covered calls, and my counter-party exchange risk is reduced by using margin. Yes its slightly risky, yes you might miss out on some capital gains, but in the long term it will do pretty fucking well. I’ve done covered calls among other options strategies for years in the legacy markets and I can tell you right now these premiums are amazing in comparision.

Thank you? your kidding right? If I had listened to you my stack would have been reduced substantially with your constant insistence of selling BTC on the way up. Now that's a stupid strategy. I can assure you my stack will be much larger at 200k then it is now. The only people to thank around here are the ones that tell you to never sell any of your BTC, unless there is an emergency.

I can assure you that if Bitcoin goes to $500k this year, your stack will be smaller than it is today. And you will be left trying to buy back $500k Bitcoins with $200k (or $203.5k if you count the premium).

Yes you can win 9/10 but when you lose, you lose big.