When will you sell your Bitcoin?

H

hawkeye1

Active Member
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.
 
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?
 
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.
 
66rounds said:
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?
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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.
 
That honestly makes me sick to the stomach. I didn't know the casino economy was that perverse.
 
hawkeye1 said:
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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Sold yesterday. All in silver now
 
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!!!
 
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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.
 
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.
 
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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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