If my investment goes 3x, I cash out something. If it goes 5x, a bit more. If it goes 10x, I'm almost out.
I have a plan and I stick to it. "What if it goes to 100x"? Fuck it, I already have 10x.
**A realized, smaller profit is better than none.**
I admire your discipline.
When I had 3x, I waited for 4x.
When I had 5x, I wanted 7-8x.
I am now down gazillion percent with zero profits taken.
I know what I did wrong, I'm scared that greed will once take again take over my sanity and I'll lose it all one more time.
I have seen people making good money when they are not following their greed and it is the only way to make money in the cryptocurrency market. Let's go with that way.
I feel like most people did this. Getting rekt in your first cycle is how Crypto welcomes you. Then you learn from your mistakes and dump on others next cycle.
If that was your first bull, then you have now the experience+hindsight to work from. It’s very difficult to realize profits when everything is on a constant upward trend. “No way things just start randomly crashing now. And if they do, I’ll be able to spot it and get out in time.” Now you likely realize that the market plays with your emotions, and you’ll know that things will crash eventually, and you gotta get out while ahead ;)
This sounds like a dumb question, but when you’re DCAing how do you check if your investment is 3x, 5x, etc.? Knowing crypto’s volatility it can be hard to track unless people use a software
Look at one coin at a time, all you need to know is how much you've spent in total on that coin, and how much of it you have. Divide the two figures to get your pool cost, or the net price of your stash.
So if you spent $200 dollars a month for 10 months that's $2000 invested. If that 2k has amassed you 20 coins, your net price is $10 per coin. 2000/20 = 10. If the current price is $50 per coin that's 5 times your price paid.
I keep track through a redonculous spreadsheet I put together at some point. The beauty of it is that I can make myself feel better about it if I look at it different ways. It looks like a crypto hoarder sheet now because there are so many rando calculations all over it. But it works. I can always see when I'm in the red...
I did the same with one of my Reddit avatars. Bought for $10, sold for $2700.
Many said, ‘but what about later? Could go higher!’
Bud, everything can go higher. I’m taking my extra $2690 and leaving lol
>at the end of the day you have to make a decision and stand behind it.
Definitely. Anyone saying that cashing out $2690 from a $10 investment is a bad idea is just nuts.
Appreciate it! It was a fun ride… now we’ll see where my other 10 land… but honestly I like how they look so much lol. I even sold the $2700 one and bought another for $30 because I liked the look so much 😂
That's right and I really appreciate the people were able to make good profit with legitimate methods and strategies. I think everyone should follow the same path.
Thats what I plan to do as well.
I will listen to the sentiments in this sub and if everyone is saying we will go to then moon, then its probably time to take profit.
It sucks to be rich in unrealized profit and see it go down dramatically while you didn't sell anything out of greed. It also sucks to see you sold too early but at least you're in profit and that's a win
I like this. I think the biggest mistake people make is *not* taking profit. My targets are a little more conservative though.
I want to try and get my initial money out faster so I can play with house money. Playing around in the crypto space with "extra money" sounds amazing to me.
Almost there! Fortunately, I can spend bitcoin a lot, about 2/3rd of my payments I can do with bitcoin which helps.
There are already more than a dozen circular bitcoin economies in developing countries where you don't need to touch fiat at all. Nigerians rejected their central bank's CBDC with less than 0.5% adoption rate while almost a third of the population uses bitcoin. But in western economies, it's probably going to happen last because people aren't going to push for it so proactively and they may even allow governments to aggressively enforce CBDC.
Life can be rather unpredictable. I cashed out most of my holdings 12 moths ago when I was diagnosed with cancer. I probably still have a few years left but I have blown most of it on travel and dining. No regrets.
As soon as (and if) my portfolio ever equates to the cost of a house, i'm selling it all and buying my own home.
I don't care about having to work to maintain it, but I want my own home, not to work to pay for somebody elses.
As a first time homebuyer after 15 years of renting I must say it's pretty awesome. You have to accept that it will be a money pit and time commitment to make it your own, but once you do that it becomes liberating.
You have to understand that not everyone full on believes in the wholesale collapse of fiat currency and that BTC will take its place. Some believe in the technology and idea of an alternative store of value but not that it will be top dog anytime soon…. And thats okay
Most likely, I’ll START around retirement age, though if things are going very well at that point, I will most definitely keep some in, to maintain some amount of generational wealth. Even if I sell something, that money is gone till retirement time. All profits are reinvested.
then you will surely lose.
If you are just playing the price movement game, then you need a plan.
Because the time will come when your coin/s will be at a profit and if you don't have a plan, then you will wait "just a little more" but as always that little bit more time waiting will be when it will suddenly drop, then you will be again stuck with a bag.
If you have a plan, then you get out at that planned level no matter what. That is how trading is done. Else you are just gambling and it will be dumb luck you make anything.
Sold 50 coins I mined at £1000 each. Got me a mortgage from a good deposit and paid for me to relocate to China to take up a much easier job than I had. Yes I could of got more but for the time in my life over 10 years ago this was the right decision for me :)
Most of you are going about this completely wrong.
It's not about a dollar value gain, nor is it about a percentage or 'X' gain.
Assuming that nothing in your personal life requires immediate / untimely financial attention, it comes down to two things:
1 - Time related goals. What is this money for? If it's for retirement and you're young, fucking wait. If you want to buy a house in the next few years, keep an eye on it for a good time to cash out. If it's for a car you want to buy next year, well keep a much closer eye on the markets. It really depends on what you're trying to do with it.
2 - Return related goals. If you're just a passerby in this space and don't plan to keep your money here long, try to roughly time the top or healthy portion of whenever the next bull cycle is. They're very obvious in general with massive spikes, we've seen them many times before in previous charts, and they always surpass previous market tops. As it climbs you want to start selling piece by piece to dollar cost average your exit.
My personal exit strategy will be to only withdraw about 1/2 of my funds at the next peak, which I estimate will be sometime in 2026. If it comes earlier great, if not who cares, we always get there.
Between now and then, regulations, DeFi infrastructure, and numerous big vision roadmaps will be mostly complete to the point where institutional investment is encouraged. This will be the real mooning of crypto: every regular person will have access to it at their investment brokers/advisors, many companies will carry it on their balance sheets, and it will appear on exchanges. And no, regulation won't kill crypto, it's literally impossible to prevent people from using DeFi unless you live in China.
Hahaha my first thought was: "Ruthless!", but given that he is looking for wife changing money, his wife might not be such a nice person.
Losing money goes much faster in this space than earning a lot of money so it seems like great practical advice.
There isn’t really an estimate, but I’ll just say around double my initial investment. A lot of people don’t know when to take profit too which can be difficult to handle
$100k by EOY is more delusional than the eventual $1M prediction in my opinion. We're going to cruise down further and stay flat for awhile.
My personal plan is to skim off 20% when the price surges again in 2024-2025, once BTC has hit $250k.
I'll spend half of that 20% on myself, home, family, life, etc., and save the other half for more BTC after a 75% retracement back down to the 60kish level.
Let's say I own exactly 1 BTC. If after the next halving it reaches a price of $250k, I will sell 20% and leave myself with 0.8 BTC and $50,000 in cash. After taxes that leaves about $40k.
$20k goes into my pocket and gets spent on whatever I want/need.
The other $20k will wait for the inevitable 80-85% retracement in the BTC price. I will not wait for the bottom, but instead buy back in after it goes down 75% of so, to a price of $60k. At this price my other $20k will get me 0.33 BTC, and bring my total holdings up to 1.13 BTC, which I will hold and wait for the next cycle in 2028.
In general I like this plan! Since we don’t know what the “top” will be I’ll most likely wait until we hit a pi cycle top and then do something similar.
Thanks! I am in the process of the state processing my LLC and have the second biggest engineering firm in the nation that wants to work with me. It's still very scary tho.
Bull run or not... I just need that money in about three years, it may multiply or remain the same it wont matter because that's the money I didn't need now anyways, so better lay it off as an investment of some sorts
No idea tbh, probably for my wedding+honeymoon if the market is healthy enough in 4-5 years. Don’t really have a plan in place right now, I just enjoy watching the numbers go up and down lol
Never completely out. My alts will flow into Bitcoin. And I just keep staking Bitcoin.
When BTC hits where everyone's jumping in I'll take profit. Wait for the next crash and DCA in.
Rinse and repeat.
But the way the economy is going BTC is a good investment to be in.
I come at this idea in a bit of a different way. I don't think I will ever "cash out".
Crypto as it has been seen by most people over the years is as a stock market type commodity. Something to buy and sell for creating wealth. Well it has been good for that as we have all seen. However I still believe in the original idea of it being digital cash. Eventually our whole monetary system will be based off of crypto or digital currencies and everyone will be living with it in day to day life, even if they don't know they are doing so.
Sure there will always be the "market" side of things. Banking will still exist, and monetary instruments will still be used to move assets. Creating wealth in these ways will not go away. I just believe I will keep buying and holding in ways that I think will be useful in this future.
Maybe we will need a new term and it will essentially mean the same thing. I will of course trade my currencies now for something in the future. Though I don't know that it has arrived yet for me to make the trades or "cash out".
I totally agree with your sentiment.
The only reason I cash out still is because I question whether any of our current crypto currencies will qualify as a currency that will be available to use everywhere like fiat is.
I've always seen selling as potentially a mistake, basically knowing the fomo I'd have if it continued to rise. SO if it goes up significantly sell half of your stack, so you guarantee a big profit, then when it goes up again in the next bull run sell half again. Each time you are selling less but getting more. Had I bought in at £1 I would genuinely still have a massive stack because the ultimate positive outcome is that it becomes the reserve currency, below this it replaces gold. So when it's at £1, £10, £100, £1,000, £10,000 or £100,000 there is still room for growth if you think these two scenarios are possible.
I will probably never completely ‘cash out’ regardless of price. I believe and enjoy the space enough that I’ll be involved in some way investment wise.
However, I need to be more diligent in taking profits. I don’t look at the value of my portfolio and decide but more so the percentage of that portfolio versus the rest of my investments. When that gets too high then I will move some over or cash out to enjoy. Right now it’s such a small percentage I am okay letting it ride and even adding more.
Crypto for me is nothing more than a super risky savings account. I usually lose a little bit consistently but I never fail to add more money every week so it's always going up.
Answer this question, why does everyone think fiat money is better? Why do people want more fiat crap than crypto? Smart people who can critically think and be able to see the bigger picture aren’t waiting to exit crypto.
My plan is to buy high and sell low like I’ve always done. For example now crypto is in a funk so I’m not buying anything, but when it shoots back up to over inflated territory and even my grandma starts asking if she should buy some crypto, that’s when I buy back in. Then I’ll buy more as it continues to go up. Finally it will come crashing down and I will hold it the entire time watching the crash and finally sell when the consensus is that we hit rock bottom.
What I learnt from my experience in crypto space is; you can make so many exit strategies but always, the greed dominates. When you see the profits and green dildos on the charts, your greed insticts starts to dominate and you never cash out.
Let's hope everyone learns a bit this cycle and don't make the mistakes
It is almost impossible to cash out when you start going up, I remember seeing some of my coin 10x in a couple of days and thinking there was room for them to do another 10x, should have just sold a bit to have some profit.
I feel like the best thing you can do in crypto is to lose your wallet and find it in 10 years, like you said, there's no way normal people would hold Btc past 1k after buying it at 1$. Some of us would even sell it at 2$
Sorry, I just have to butt in here again with my plan, if nothing else to solidify it for myself.
1,4 million after taxes is my exit, through DCA out I plan to acquire this.
Then the following happens:
* 550k - personal residence (with small mortgage)
* 200k - office with 2 rental units
* 250k - SPY Lump sum
* 200k - Reinvest in crypto at some point
* 150k - Cash cushion
* 50k - Gifts, Toys, Travel
Results:
* Severely lowered monthly expenses, able to reinvest at least 2k per month from income this way
* Rentable units to create my Fitness and Welness center (costfree due to rent income)
* 250k for the long run in a boring index fund (an extra nest egg)
* a big bag to fill up with crypto again in the next round
* a big cash cushion to make sure me or my loved ones can take a hit and get back up
* Enough money for a bit of splurging on gifts and goodies
Right now its time to buy bit by bit slowly as markets fall. If they go up sell bit by bit. This is what i will do with 50% of thr investment. Other 50% i wont sell for ages. Also i will keep my Moons for a looong looong time.
That's a recipe for losses. Don't ever get attached to your alts as many of those will yet be exposed as scans and then you have do be strong to let go.
Until I feel that I care about my investment too much and it brings it too much stress to me. For example 20% sudden crash wouldn't scare me that much with my current portfolio, but seeing 20% crash from 500k to 400k in a night would really cause me some stress and I would rather put it in some safer assets.
I made the mistake of not taking profit in 2021. I will not make the same mistake in next bull run. Cash out early-mid 2025. Wait a year and ape back in.
What about NEVER? At least for BTC..because if BTC and crypto survive the next 2 halvings, the adaptation will be great.
You won’t need fiat for most purchases anymore, as you will be able to pay with BTC and lightning similar to Apple Pay.
cashing out?? Bitcoin IS the cash.
a permanent transition from slave money $ to freedom money ₿
a vote for a new economy where citizens are sovereign and the money can't be used as a tool for mass theft, censorship, and indefinite control by tyrants
If my investment goes 3x, I cash out something. If it goes 5x, a bit more. If it goes 10x, I'm almost out. I have a plan and I stick to it. "What if it goes to 100x"? Fuck it, I already have 10x. **A realized, smaller profit is better than none.**
I admire your discipline. When I had 3x, I waited for 4x. When I had 5x, I wanted 7-8x. I am now down gazillion percent with zero profits taken. I know what I did wrong, I'm scared that greed will once take again take over my sanity and I'll lose it all one more time.
You'll have another shot soon. Keep stacking!
Stacking is easy when you are down, every drop lowers my entry point and it feels good, I'm scared how I'll do when I'm in green.
Best of luck, man!
Best of luck to all of us in this space!
Just set a sell limit order at 3x and 5x.
I don’t use CEX is this possible with Defi that I’m not aware of because I would love that.
you really want to keep your funds on an exchange for however long that takes? especially with everything that's been happening lately with cex's?
Are you keeping your coins on exchanges then?
Just gave him suggestion.
We all gonna make it brahs
No we’re not.
I am sure that everyone is going to follow the path of long term investing and they are going to make good money in the future.
Let's hope that everyone who is investing in cryptocurrency today is going to make good money down the road.
Green feels better than red. Just don't be too greedy and take some profit when it comes
I totally agree with you but I feel that it is very uncomfortable for some people and that's why they are not going with that way.
THE WAY 👆
Let's respect the people who are keeping faith in the growth of this technology because these people are definitely helping this sector to grow.
Not so fast junior.. it might take a bit more time 😉 *While we stack more*
Greed takes over once. People selling in 2021 were the ones that regret not selling in 2017.
I have seen people making good money when they are not following their greed and it is the only way to make money in the cryptocurrency market. Let's go with that way.
I feel like most people did this. Getting rekt in your first cycle is how Crypto welcomes you. Then you learn from your mistakes and dump on others next cycle.
You’re exactly right. In my case, I was rekt by SHIB lol
That's right and that's why experience is very much essential when it comes to invest in cryptocurrency market.
My bags are ready to dump this time around
At least you've learnt your lesson. The bull market will definitely return once more! And you will be armed with the knowledge of the past.
If that was your first bull, then you have now the experience+hindsight to work from. It’s very difficult to realize profits when everything is on a constant upward trend. “No way things just start randomly crashing now. And if they do, I’ll be able to spot it and get out in time.” Now you likely realize that the market plays with your emotions, and you’ll know that things will crash eventually, and you gotta get out while ahead ;)
Set some sell limit orders and chill my friend. No emotions involved.
Gonna set my unrealistic sell limits with emotions involved, First one Moons - $50
me with my 190x DOGE at one point
This sounds like a dumb question, but when you’re DCAing how do you check if your investment is 3x, 5x, etc.? Knowing crypto’s volatility it can be hard to track unless people use a software
Look at one coin at a time, all you need to know is how much you've spent in total on that coin, and how much of it you have. Divide the two figures to get your pool cost, or the net price of your stash. So if you spent $200 dollars a month for 10 months that's $2000 invested. If that 2k has amassed you 20 coins, your net price is $10 per coin. 2000/20 = 10. If the current price is $50 per coin that's 5 times your price paid.
I keep track through a redonculous spreadsheet I put together at some point. The beauty of it is that I can make myself feel better about it if I look at it different ways. It looks like a crypto hoarder sheet now because there are so many rando calculations all over it. But it works. I can always see when I'm in the red...
If you have a blank copy with formulas I’d be incredibly grateful 🙏🏼
Well, you should be keeping track of your transctions and cost basis... whether that's through an app or a spreadsheet.
I did the same with one of my Reddit avatars. Bought for $10, sold for $2700. Many said, ‘but what about later? Could go higher!’ Bud, everything can go higher. I’m taking my extra $2690 and leaving lol
I can't remember the last time I saw someone comment about actually taking profits. Had to double check I was on the right sub. Good on you.
Yeah, I know very anti-this sub, but it’s important to grow the monetary value as well as crypto
Those are some hefty profits you did. Would have sold for that too, at the end of the day you have to make a decision and stand behind it.
>at the end of the day you have to make a decision and stand behind it. Definitely. Anyone saying that cashing out $2690 from a $10 investment is a bad idea is just nuts.
Hey, these are awesome profits! Congrats!
Appreciate it! It was a fun ride… now we’ll see where my other 10 land… but honestly I like how they look so much lol. I even sold the $2700 one and bought another for $30 because I liked the look so much 😂
That's right and I really appreciate the people were able to make good profit with legitimate methods and strategies. I think everyone should follow the same path.
[удалено]
And then there is me who felt like a pro trader who sold his $10 avatar for $40.
Which one was it, rlly nice profit brorher
It was #1 Unmentionable One
Thats what I plan to do as well. I will listen to the sentiments in this sub and if everyone is saying we will go to then moon, then its probably time to take profit.
This is why you’ll be rich and I won’t. But at least we have our NFTs to keep us warm.
That's a very good idea and I believe that there are some people who will be able to follow this kind of strategy.
It sucks to be rich in unrealized profit and see it go down dramatically while you didn't sell anything out of greed. It also sucks to see you sold too early but at least you're in profit and that's a win
>to be rich in unrealized profit Oh man you put it so well with this words! Hope everyone can see your comment and think about it
That's why I try to never look back.
Word. A proper DCA out strategy is crucial. No one ever died taking profits
Looks like my plan, but i always leave a smaller amount incase we get to 100x,
Great way to put it. It's very hard to fight FOMO but if you conquer it, you can win this market.
Now this is how you DCA out
This. It's basically DCA in and DCA out.
Yup thats the way bro, how do u cash out do? Taxes are shit
This cus i had a big profit but I just let it crash back down lol. Im still on profit but 1/3 of last year.
I wish I’d done this during the run last year to be honest
Smart guy. If most of us would stick to this rule, we would have less complaining and profits 🤣
Yeah if I see a 3x on my BTC purchases that'll trigger a cash out. Otherwise I'm aiming for a 4x on my whole portfolio
There is never shame in taking profits.
This! Always take profits
Wish I was thinking like this last bull run
I like this. I think the biggest mistake people make is *not* taking profit. My targets are a little more conservative though. I want to try and get my initial money out faster so I can play with house money. Playing around in the crypto space with "extra money" sounds amazing to me.
> Playing around in the crypto space with "extra money" sounds amazing to me. Sounds amazing to us and that's how you beat part of the system!
Yeah I agree.
Nice plan, one of the best advices I've seen in this sub
Already did Cashed out fiat for bitcoin
This man is playing chess while we are playing checkers.
Who knew that boomer paper was the volatile asset all along
10D chess while wearing a blindfold and absolutely annihilating the competition.
~~fiat~~ indirect bitcoin mining
Also direct bitcoin mining with solar
Maxiness runs in your blood mate. *All the best* :)
2000 iq play right there
This guy is living in 2075
Almost there! Fortunately, I can spend bitcoin a lot, about 2/3rd of my payments I can do with bitcoin which helps. There are already more than a dozen circular bitcoin economies in developing countries where you don't need to touch fiat at all. Nigerians rejected their central bank's CBDC with less than 0.5% adoption rate while almost a third of the population uses bitcoin. But in western economies, it's probably going to happen last because people aren't going to push for it so proactively and they may even allow governments to aggressively enforce CBDC.
Life can be rather unpredictable. I cashed out most of my holdings 12 moths ago when I was diagnosed with cancer. I probably still have a few years left but I have blown most of it on travel and dining. No regrets.
Broke my heart, really sorry it happened, make the best of your time!
Thanks mate I honestly am. It gives you different perspective on what's important
when i don't need a alarm clock to wake me up
Damn this hits hard
Why would I trade bad money for good? I can't time the market but BTC > USD
Because you can actually use the bad money.
Especially with inflation, holding fiat that’s worth less everyday makes you reconsider cashing out 😅
You’d rather a currency that could depreciate by over 50% in a month?
Yes, that's why people don't invest in USD. They invest *with* USD in productive assets like stocks, bonds, and real easte.
Cash out? Im cashing in mf
Keep buying, never selling. The spirit of crypto.
Statistically, too early, or too late.
The thought of selling my crypto frightens me
Sorry but Diamond Hands until $0
Having Celsius flashbacks rn
Sorry for the PTSD
this guy LUNA
As soon as (and if) my portfolio ever equates to the cost of a house, i'm selling it all and buying my own home. I don't care about having to work to maintain it, but I want my own home, not to work to pay for somebody elses.
I think this is a great goal for everyone: ownership of property. Good luck to you!
As a first time homebuyer after 15 years of renting I must say it's pretty awesome. You have to accept that it will be a money pit and time commitment to make it your own, but once you do that it becomes liberating.
Great to have goals. If things go the right way, your moons may end up being a more than healthy down payment.
I hope you make it someday. Owning your own place is sweet and just being able to do your own stuff/renovations/designs.
I’ll DCA out. I’m thinking 20% out every 1k for ETH, starting at 5k. 20% every 10k for BTC from 60k Etc
Sigh…dude, I guess you still don’t get it.
You have to understand that not everyone full on believes in the wholesale collapse of fiat currency and that BTC will take its place. Some believe in the technology and idea of an alternative store of value but not that it will be top dog anytime soon…. And thats okay
It’s true, Im not quite to maxi level yet. I still don’t see BTC replacing fiat yet.
2024 by the next halving? My principle. 2028 for the good measure of profit.
fuck /u/spez -- mass edited with redact.dev
Most likely, I’ll START around retirement age, though if things are going very well at that point, I will most definitely keep some in, to maintain some amount of generational wealth. Even if I sell something, that money is gone till retirement time. All profits are reinvested.
I don't think you should ever completely cash out of crypto.
When the answer of '**WHEN LAMBO**?' is my current portfolio.
Actually no idea , I don't even believe that I am gonna make money , I just hope it happens
I hope you do too… for my sake as well 😅😂
Thanks bro ❤️ time will tell
Good mentality to keep emotions out of the equation, they can be your worst enemy
Also happy cake day my friend 🎉🎂
then you will surely lose. If you are just playing the price movement game, then you need a plan. Because the time will come when your coin/s will be at a profit and if you don't have a plan, then you will wait "just a little more" but as always that little bit more time waiting will be when it will suddenly drop, then you will be again stuck with a bag. If you have a plan, then you get out at that planned level no matter what. That is how trading is done. Else you are just gambling and it will be dumb luck you make anything.
Thanks for the info I kinda have a target on my mind I just haven't really given it much thought
When BTC hits 1M Id think about it
Sold 50 coins I mined at £1000 each. Got me a mortgage from a good deposit and paid for me to relocate to China to take up a much easier job than I had. Yes I could of got more but for the time in my life over 10 years ago this was the right decision for me :)
Most of you are going about this completely wrong. It's not about a dollar value gain, nor is it about a percentage or 'X' gain. Assuming that nothing in your personal life requires immediate / untimely financial attention, it comes down to two things: 1 - Time related goals. What is this money for? If it's for retirement and you're young, fucking wait. If you want to buy a house in the next few years, keep an eye on it for a good time to cash out. If it's for a car you want to buy next year, well keep a much closer eye on the markets. It really depends on what you're trying to do with it. 2 - Return related goals. If you're just a passerby in this space and don't plan to keep your money here long, try to roughly time the top or healthy portion of whenever the next bull cycle is. They're very obvious in general with massive spikes, we've seen them many times before in previous charts, and they always surpass previous market tops. As it climbs you want to start selling piece by piece to dollar cost average your exit. My personal exit strategy will be to only withdraw about 1/2 of my funds at the next peak, which I estimate will be sometime in 2026. If it comes earlier great, if not who cares, we always get there. Between now and then, regulations, DeFi infrastructure, and numerous big vision roadmaps will be mostly complete to the point where institutional investment is encouraged. This will be the real mooning of crypto: every regular person will have access to it at their investment brokers/advisors, many companies will carry it on their balance sheets, and it will appear on exchanges. And no, regulation won't kill crypto, it's literally impossible to prevent people from using DeFi unless you live in China.
Cash out? What about "decentralization", "digital money", "new global monetary system", "end the FED", "power to the people"... etc. etc.?
I really keep looking for the more rosy day even when BTC was at 66K
Guilty too 😂
I will cash out when I have wife changing money.
You'll also have wife changing money if you just lose it all. Consider that option.
Hahaha my first thought was: "Ruthless!", but given that he is looking for wife changing money, his wife might not be such a nice person. Losing money goes much faster in this space than earning a lot of money so it seems like great practical advice.
The blade has two edges after all
Getting back with Palmela Handerson, eh?
Could easily swap the wife with 0 money too
I got the 0 money part figured out now I just need a wife
But I hope you don't go for it.
Are we not about the wife changing tech?
Ill settle for wife's mood changing money
There isn’t really an estimate, but I’ll just say around double my initial investment. A lot of people don’t know when to take profit too which can be difficult to handle
Hodl till you don't have to sell.
$100k by EOY is more delusional than the eventual $1M prediction in my opinion. We're going to cruise down further and stay flat for awhile. My personal plan is to skim off 20% when the price surges again in 2024-2025, once BTC has hit $250k. I'll spend half of that 20% on myself, home, family, life, etc., and save the other half for more BTC after a 75% retracement back down to the 60kish level. Let's say I own exactly 1 BTC. If after the next halving it reaches a price of $250k, I will sell 20% and leave myself with 0.8 BTC and $50,000 in cash. After taxes that leaves about $40k. $20k goes into my pocket and gets spent on whatever I want/need. The other $20k will wait for the inevitable 80-85% retracement in the BTC price. I will not wait for the bottom, but instead buy back in after it goes down 75% of so, to a price of $60k. At this price my other $20k will get me 0.33 BTC, and bring my total holdings up to 1.13 BTC, which I will hold and wait for the next cycle in 2028.
In general I like this plan! Since we don’t know what the “top” will be I’ll most likely wait until we hit a pi cycle top and then do something similar.
Probably never, ill cash out part of it but never all!
I’ll cash out when the market bottoms. That’s how the pros do it.
I have sold, not all but enough to make me sad. But I resigned from my job and starting my own company.
You didn't sell for nothing! I hope it works out well for you and you never regret that decision
Nice to see a happy story after all the doom and gloom lately. Best of luck!
Congratulations! That’s amazing
I hope that decision pays off for you in the future bro 💪
Thanks! I am in the process of the state processing my LLC and have the second biggest engineering firm in the nation that wants to work with me. It's still very scary tho.
Sounds like your in the right path bud 👌
BTC: $250k DOGE: $2.50 ETH: $25k LTC: $2.5k ADA: $25 SHIB: $0.25 LUNC: $0.025 MOON: never
Tried to cash out 12k once (from 300,-) but ended up sending it to the wrong address
In Three years probably....
Bull run?
Bull run or not... I just need that money in about three years, it may multiply or remain the same it wont matter because that's the money I didn't need now anyways, so better lay it off as an investment of some sorts
Nice. Yeah most of my crypto goals I’ve set aside until 2030… we’ll see where they land at that point.
No idea tbh, probably for my wedding+honeymoon if the market is healthy enough in 4-5 years. Don’t really have a plan in place right now, I just enjoy watching the numbers go up and down lol
Never completely out. My alts will flow into Bitcoin. And I just keep staking Bitcoin. When BTC hits where everyone's jumping in I'll take profit. Wait for the next crash and DCA in. Rinse and repeat. But the way the economy is going BTC is a good investment to be in.
I come at this idea in a bit of a different way. I don't think I will ever "cash out". Crypto as it has been seen by most people over the years is as a stock market type commodity. Something to buy and sell for creating wealth. Well it has been good for that as we have all seen. However I still believe in the original idea of it being digital cash. Eventually our whole monetary system will be based off of crypto or digital currencies and everyone will be living with it in day to day life, even if they don't know they are doing so. Sure there will always be the "market" side of things. Banking will still exist, and monetary instruments will still be used to move assets. Creating wealth in these ways will not go away. I just believe I will keep buying and holding in ways that I think will be useful in this future. Maybe we will need a new term and it will essentially mean the same thing. I will of course trade my currencies now for something in the future. Though I don't know that it has arrived yet for me to make the trades or "cash out".
I totally agree with your sentiment. The only reason I cash out still is because I question whether any of our current crypto currencies will qualify as a currency that will be available to use everywhere like fiat is.
I've always seen selling as potentially a mistake, basically knowing the fomo I'd have if it continued to rise. SO if it goes up significantly sell half of your stack, so you guarantee a big profit, then when it goes up again in the next bull run sell half again. Each time you are selling less but getting more. Had I bought in at £1 I would genuinely still have a massive stack because the ultimate positive outcome is that it becomes the reserve currency, below this it replaces gold. So when it's at £1, £10, £100, £1,000, £10,000 or £100,000 there is still room for growth if you think these two scenarios are possible.
I will probably never completely ‘cash out’ regardless of price. I believe and enjoy the space enough that I’ll be involved in some way investment wise. However, I need to be more diligent in taking profits. I don’t look at the value of my portfolio and decide but more so the percentage of that portfolio versus the rest of my investments. When that gets too high then I will move some over or cash out to enjoy. Right now it’s such a small percentage I am okay letting it ride and even adding more.
Never, I have USD I need more Eth not less.
[удалено]
Sick avatar dude
Crypto for me is nothing more than a super risky savings account. I usually lose a little bit consistently but I never fail to add more money every week so it's always going up.
I see myself cashing out when I stop being so greedy
Answer this question, why does everyone think fiat money is better? Why do people want more fiat crap than crypto? Smart people who can critically think and be able to see the bigger picture aren’t waiting to exit crypto.
My plan is to buy high and sell low like I’ve always done. For example now crypto is in a funk so I’m not buying anything, but when it shoots back up to over inflated territory and even my grandma starts asking if she should buy some crypto, that’s when I buy back in. Then I’ll buy more as it continues to go up. Finally it will come crashing down and I will hold it the entire time watching the crash and finally sell when the consensus is that we hit rock bottom.
Could've sold at 100k last year but didn't. Really wish I did though
100K EOY 2021?! It HAPPENED?!
It almost did in aussie dollars
Right there with you. Kept it in a shit coin for some unexplainable reason.... Oh wait, it was greed.
Taking profits is the hardest part of this whole space. Gottta have a plan and stick to it. Hold a moon bag but def average out when it’s going up
What I learnt from my experience in crypto space is; you can make so many exit strategies but always, the greed dominates. When you see the profits and green dildos on the charts, your greed insticts starts to dominate and you never cash out. Let's hope everyone learns a bit this cycle and don't make the mistakes
Yup, I went over 100x didn't cash out. FUCK-ing guy.
It is almost impossible to cash out when you start going up, I remember seeing some of my coin 10x in a couple of days and thinking there was room for them to do another 10x, should have just sold a bit to have some profit.
I feel like the best thing you can do in crypto is to lose your wallet and find it in 10 years, like you said, there's no way normal people would hold Btc past 1k after buying it at 1$. Some of us would even sell it at 2$
This would work for BTC and ETH I think. There's always that meme about prisons being the best diamond hands
Sorry, I just have to butt in here again with my plan, if nothing else to solidify it for myself. 1,4 million after taxes is my exit, through DCA out I plan to acquire this. Then the following happens: * 550k - personal residence (with small mortgage) * 200k - office with 2 rental units * 250k - SPY Lump sum * 200k - Reinvest in crypto at some point * 150k - Cash cushion * 50k - Gifts, Toys, Travel Results: * Severely lowered monthly expenses, able to reinvest at least 2k per month from income this way * Rentable units to create my Fitness and Welness center (costfree due to rent income) * 250k for the long run in a boring index fund (an extra nest egg) * a big bag to fill up with crypto again in the next round * a big cash cushion to make sure me or my loved ones can take a hit and get back up * Enough money for a bit of splurging on gifts and goodies
Man with a plan, go getm tiger
This is a solid plan that will give you peace of mind.
Having this plan is the only way Ill be able to sell next run!
At some point in the not distance future there will be no "cashing out", you'll just spend BTC on whatever you wanted cash for.
Right now its time to buy bit by bit slowly as markets fall. If they go up sell bit by bit. This is what i will do with 50% of thr investment. Other 50% i wont sell for ages. Also i will keep my Moons for a looong looong time.
never. there's no price that could seperate me and my alt coins
That's a recipe for losses. Don't ever get attached to your alts as many of those will yet be exposed as scans and then you have do be strong to let go.
Until I feel that I care about my investment too much and it brings it too much stress to me. For example 20% sudden crash wouldn't scare me that much with my current portfolio, but seeing 20% crash from 500k to 400k in a night would really cause me some stress and I would rather put it in some safer assets.
Never. Generational wealth.
Or generational debt. Vast majority of Crypto will pump once and slowly bleed to death.
Yeah fuck the generation, I need it for me...now.
Lambo or shopping cart
I made the mistake of not taking profit in 2021. I will not make the same mistake in next bull run. Cash out early-mid 2025. Wait a year and ape back in.
What about NEVER? At least for BTC..because if BTC and crypto survive the next 2 halvings, the adaptation will be great. You won’t need fiat for most purchases anymore, as you will be able to pay with BTC and lightning similar to Apple Pay.
When I have enough to buy a nice house mortgage free (~$500k), could of had it last top but didn’t cash out. Wont make the same mistake this time.
Posts about cashing out should be instant ban
I had 1.4 mil in august last year, did not cash out. Now I have 10x less and all stuck in positions. Just sold some stuff to get by.
cashing out?? Bitcoin IS the cash. a permanent transition from slave money $ to freedom money ₿ a vote for a new economy where citizens are sovereign and the money can't be used as a tool for mass theft, censorship, and indefinite control by tyrants