Quote from: Falconer on Today at 06:12:05 PM

Quote from: JayJuanGee on Today at 04:48:56 PM

Quote from: Falconer on Today at 08:20:51 AM

I have no way of agreeing with your plan because humans are basically never satisfied with what they have. Bitcoin is money, you can never give up on the amount you have without trying to accumulate it again as long as you are confident and have the budget to do so. 0.5 btc is not much, but it might be a lot for your current financial capabilities.

The time will come for you to have a bigger investment portfolio if you can do it consistently. Investments don't need to be forced and you have to be wise enough to set the direction of your income and expenses, so save as much as you can. Also some plans have gone haywire for some reason even unexpectedly. Do you remember when covid happened, many of us or investors had to sell a certain amount of bitcoins because they lost their source of income because of the lockdown.

Yep.. we have to be careful NOT to have to be forced to sell any (or all) of our bitcoin at a time that is not completely of our own choosing, and for sure the March 2020 scenario did force a lot of weak hands into selling BTC and perhaps even selling more than they would have had preferred to have sold - because it is may well be possible that they well never get those BTC back. That is one of the examples to have reserves and maybe even excessive reserves.. and if bitcoin is serving as your reserve, then you may well be over-allocated to bitcoin.. in a kind of way that does not make a lot of sense... but you do not know until the situation comes and then you end up panicking... and those kinds of situations are not easy, even for highly convicted bitcoiners to either HODL or to buy more or if they have to sell.. to sell as little as possible... and each person will have to be responsible for the level of extreme dire that s/he had put himself into by those kinds of outrageous and extreme scenarios that sometimes end up playing out in the real world rather than the world that had been imagined the the delusional investor who invested too much.

There are precarious situations that always need to be considered even though we have developed the best plan for long term investment. I'm sure anyone would consider selling their bitcoin as long as they believe it's the best option for survival or the only option that will help them out of a disaster. Drying up sources of income will force a lot of people to sell their properties including digital assets like this, and actually that's not a problem at all because we don't have to hold bitcoins forever.

No one, except for you, can determine if you made mistakes in your selling of bitcoin during the March 2020 dip down to $3,850-ish.. .or if you might have over invested in terms of feeling a need to sell on the way down. .in which thereafter, the BTC price has not returned even close to those levels.. especially after September 2020, we have not returned below $10k or even really come close to $10k (the lowest so far was right around $15,479 in November 2022).

Quote from: Falconer on Today at 06:12:05 PM

The Covid disaster has taught us something, especially about how we have to manage investment plans and adjust things well. I believe bitcoin is a reserve for some people instead of gold or other investment assets, but I think they also need to diversify their assets to other assets instead of just bitcoin.

I already talked about this diversification question. The solution to not having your financial and psychological matters together is not necessarily diversification.. but maybe you are using the term differently since there can be some need to have both cash and bitcoin and then running out of cash as the BTC price is falling may well be considered a lack of diversification. So in that regard, surely it might have had been helpful to have some spare cash during such a March 2020 liquidity event in which even if you might not have had to use the cash to buy BTC (whether referring to you specifically or anyone who is reading this thread and went through difficulties of perhaps selling BTC during that March 2020 period), you might not have had to feel some kind of necessity to sell BTC at the wrong time (or at a time that did not end up being a good time to execute such)

Quote from: Falconer on Today at 06:12:05 PM

No one knows when we will have financial problems that will force us to sell,

Of course, no one knows, and that is part of the reason to prepare for BTC prices to go in either direction .. and even extremes, so in that regard, even if you might not be completely prepared, you are not acting like a deer in the headlights and completely panicking based on lack of preparations...

Sure, it is not likely even comfortable for anyone who is even prepared for extreme events, but it is likely a heck of a lot better for those who have done a decent amount of preparations, even if they might end up panicking a little bit, they might save themselves from panicking a lot... because sometimes those kinds of situations could cause very irreversible abilities to recover and perhaps even ending up with only 1/3 of the coins that you could have had if you had merely just held through the whole thing.. .. and some people never recover.. they turn bitter and they fail to act or they come up with very deficient strategies to deal with those kinds of situations.

Quote from: Falconer on Today at 06:12:05 PM

it could be when the price drops a lot or it may be lower than what we expected. Having other assets as options is good, so I think it can never go wrong.

Even if any of us might be prepared for extreme situations, then we still might not be completely ready for how extreme it ends up getting.. so it could be the case that we don't disagree on this point... and sometimes diversification is merely having both cash and bitcoin rather than just bitcoin, but still if the cash runs out because you keep buying and the BTC price keeps dipping, then maybe the only thing that is left is just to wait every two weeks to figure out whether to buy and then in those situations, there might still not be comfort buying, but instead just letting the cash reserves to build up.. Everyone is going to have some slightly different ways to attempt to prepare for these kinds of matters, and some will make greater mistakes than others, and not everyone will learn from their mistakes, so it surely can be difficult to describe any kinds of exact blanket solutions, except for people to attempt ot make sure that they study their own finances and their own psychology in order to best coordinate what they are doing with those financial and psychological factors which include at least attempting to consider your cashflow, how much bitcoin you have already accumulated, your other investments (including cash reserves), your view of bitcoin as compared with other investments, timeline, risk tolerance, and your time, skills, goals (investment/lifestyle targets) and your abilities to strategize, plan, research and learn along the way including tweaking strategies from time to time to consider trading, reallocating, use of leverage and/or financial instruments.