When will you sell your Bitcoin?

Discussion in 'Digital Currencies' started by hawkeye1, Feb 18, 2021.

  1. hawkeye1

    hawkeye1 Member

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    More and more I am thinking that the answer to this question is going to be never.

    Apart from the fact that I obviously wouldn't have CGT to worry about, once the price gets to a certain level, I can just use it as collateral to finance me for the rest of my life. It's almost certainly going to keep accumulating, if slower eventually, due to government monetary operations.

    Got the idea from Saylor, but just thinking through the calculations makes me think it is worth it to get the steady income stream rather than the one big hit and then having to worry about getting a yield in Aussie dollars.

    I'm not giving up my percentage of that 21 million.
     
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  2. 66rounds

    66rounds Well-Known Member Silver Stacker

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    are there actually institutions that will accept your bitcoin as collateral for finance? how does that even work? do you send the coins to their wallet and hope when you pay off the loan that they will send it back?
     
  3. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

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    After 100K USD!
     
  4. 66rounds

    66rounds Well-Known Member Silver Stacker

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  5. heartastack

    heartastack Well-Known Member Silver Stacker

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    So the '21 million' thing... 100 million Satoshis per bitcoin so bitcoin when fully mined is actually 2 100 000 000 000 000 currency units.
     
  6. Brendio

    Brendio Active Member

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    Yes, I used NEXO a year ago to get a loan to convert some share options. In hindsight, I should have let my options lapse, because I lost money on that, but I would have lost more in opportunity cost if I had sold BTC to get the funds. Nexo is now also paying me interest on my excess collateral, and with the price increase, that interest is actually more than the interest on my loan.

    Loan is denominated in USD, but they wired it straight to my Westpac account.
     
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  7. dozerz

    dozerz Well-Known Member Silver Stacker

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    binance loan usdt on bitcoin deposits.
     
  8. 66rounds

    66rounds Well-Known Member Silver Stacker

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    That honestly makes me sick to the stomach. I didn't know the casino economy was that perverse.
     
  9. SilverHaas

    SilverHaas Member

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    Sold yesterday. All in silver now
     
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  10. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    DEFI, nothing perverse about it.

    And "casino economy"? You better get on board. Or that'll be two ships you'll have watched sailed. ;)
     
  11. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    B e your own Central Bank. :)
     
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  12. 66rounds

    66rounds Well-Known Member Silver Stacker

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    You can have your sinking ship, I'm already in the life raft heading back to shore.
     
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  13. dollars

    dollars Active Member Silver Stacker

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    I remember when GP CK and a few other stackers went to a coin show in Berlin, probably around the time of the dragon release and they were withdrawing cash out of a Bitcoin ATM and buying drinks at the bar, (GP put out some pictures or a small video )
    Just wondering what the drink bill was then relative to the Bitcoin prices we see today!!!
     
    Last edited: Feb 18, 2021
    wrcmad and mmm....shiney! like this.
  14. dozerz

    dozerz Well-Known Member Silver Stacker

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    binance turns over more than any of the top 4 here daily, you can withdraw under 2btc with no kyc. better performance, uptime and access to real assets than anything in this arse end backwater.
     
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  15. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    And the attraction is?

    Screen Shot 2021-02-18 at 10.20.03 pm.png
     
  16. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    Not sure. Finger always on the sell button.
    If it craters I will sell and buy back in later on most likely.
    I'd rather keep my gains and not watch them trickle away slowly. It's never wrong to pull some profit.
    I dont have btc right now, just litecoin and ethereum.
    Cryptos will most likely get dragged down in the next market drop so I'm keeping an eye on that.
     
    Last edited: Feb 18, 2021
  17. Goldmiester

    Goldmiester Active Member

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    I have learnt my lesson from 2018. Had just got in to Crypto and HODL'd all the way thinking it would keep going up. It didn't. So now I always take profits. everytime BTC has hit an ATH I've been taking profits and now have a healthy amount with a good amount of BTC still left over. My advice would be to always take profits when you can.
     
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  18. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    I've read stats that would suggest otherwise, that if you HODLed you'd be better off.
     
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  19. Goldmiester

    Goldmiester Active Member

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    Maybe, but at some point you need to convert those numbers on screen to cold hard cash!
     
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  20. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    If you stake you keep your asset base and spend (or add to your asset base) your earnings.
     
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