What would make you sell your BTC? \ stacker news ~bitcoin

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1020 sats \ 42 comments \ @0xBTC 21 Jun 2023 bitcoin

Title; but what would make you sell your bags? Personally, if BTC goes parabolic and it was a life changing amount of money I think I would have to sell.

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153 sats \ 0 replies \ @TomK 21 Jun 2023

Selling Your bags? This would imply that better money would have entered a better and stable world with free market capitalism and absence of commie politics to guarantee our private property. I do not see this scenario coming in my lifetime.

71 sats \ 0 replies \ @grayruby 21 Jun 2023

My position on this has changed over the years.

Firstly, to completely sell, my thesis would have to be invalidated and bitcoin proven insecure or capturable by a nation state. So if there is a catastrophic hack or a nation state manages a 51% attack or multiple G7 nation states work together to make bitcoin illegal in their countries I would have to rethink my thesis and decide if I want to continue holding.

Secondly, I used to have a plan to sell half my position in tiers as the price rose. For example sell 10% of position at 100k and another 10% at 200k and so on. This doesn't make sense anymore. There are ways to use bitcoin as collateral to access fiat loans so why would I sell 10% off my position that is going up forever against fiat for fiat when I can just use it as collateral to borrow fiat to achieve liquidity and then have the fiat ice cube melt away the interest it will cost me. Doesn't make sense to sell and pay capital gains tax when you can simply borrow fiat. That being said Bitcoin is volatile, you can't wreck yourself borrowing up to 70% of your position size but you can easily borrow 10-20% and be comfortable.

Finally, there is a scenario where I would sell some (not all) of my bitcoin where my thesis has not been invalidated and that would be if bitcoin's price got extremely removed from where I think current value should be to the upside. Say Balaji's scenario played out and Bitcoin shot up to 1M in the span of 90 days, I definitely would have to consider selling part of my holdings unless I really believed this was the moment fiat was dead and hyperbitcoinization was taking hold. When you look at the gold/weimar marks chart there is extreme volatility for years before marks hyperinflate and gold price goes to the moon. Personally, I think fiat has too entrenched network effect to just go away that quickly so I would have to look at the available facts in a scenario like that and make a decision if I should sell some. (This doesn't imply I would always sell some at 1M, I would much rather have it get there slowly with growing adoption and usage, stabilizing price so I can use as collateral and borrow against it)

121 sats \ 5 replies \ @nerd2ninja 21 Jun 2023

What about "Fiat is a rigged system designed to enrich insiders so I'm opting out with Bitcoin" do people not understand?

0 sats \ 4 replies \ @0xBTC OP 21 Jun 2023

I understand but it clearly operates in cycles. It would be foolish to not take advantage of that.

1302 sats \ 2 replies \ @nerd2ninja 21 Jun 2023

"Do not try and time the market. That's impossible. Instead only try to realize the truth." What truth? "1 sat = 1 sat" 1 sat = 1 sat? "Then you'll see that it is not the price that changes, it is only yourself." There is no green, there is no red, there is only orange

https://matrix4humans.com/wp-content/uploads/2020/01/spoonboy.jpg

No but seriously, just like everybody else, you don't realize its the top at the time you're supposed to be selling.

https://bitcointalk.org/index.php?topic=375643.0

"I type d that tyitle twice because I knew it was wrong the first time. Still wrong. w/e. GF's out at a lesbian bar, BTC crashing WHY AM I HOLDING? I'LL TELL YOU WHY. It's because I'm a bad trader and I KNOW I'M A BAD TRADER. Yeah you good traders can spot the highs and the lows pit pat piffy wing wong wang just like that and make a millino bucks sure no problem bro. Likewise the weak hands are like OH NO IT'S GOING DOWN I'M GONNA SELL he he he and then they're like OH GOD MY ASSHOLE when the SMART traders who KNOW WHAT THE FUCK THEY'RE DOING buy back in but you know what? I'm not part of that group. When the traders buy back in I'm already part of the market capital so GUESS WHO YOU'RE CHEATING day traders NOT ME~! Those taunt threads saying "OHH YOU SHOULD HAVE SOLD" YEAH NO SHIT. NO SHIT I SHOULD HAVE SOLD. I SHOULD HAVE SOLD MOMENTS BEFORE EVERY SELL AND BOUGHT MOMENTS BEFORE EVERY BUY BUT YOU KNOW WHAT NOT EVERYBODY IS AS COOL AS YOU. You only sell in a bear market if you are a good day trader or an illusioned noob. The people inbetween hold. In a zero-sum game such as this, traders can only take your money if you sell.

so i've had some whiskey actually on the bottle it's spelled whisky w/e sue me (but only if it's payable in BTC)"

53 sats \ 0 replies \ @DarthCoin 21 Jun 2023

🔥🔥🔥 One of the most compelling statements in Bitcoin. History of Bitcoin.

50 sats \ 0 replies \ @Atreus 21 Jun 2023

"In vino veritas" right here

100 sats \ 0 replies \ @falsefaucet 21 Jun 2023

what is foolish , is thinking the average joe can trade a bottom and top succesfully.

yeah maybe YOU can. but most of us cant/ choose not to try.

this isnt about getting rich, this is about not supporting unjust systems.

everytime you sell your bitcoin for fiat, you are opting back into this fucked up system

most of us wont take that chane.

56 sats \ 0 replies \ @mudbloodvonfrei 21 Jun 2023

Bitcoin is money. I would use it to buy something I needed. I don't do this now because bitcoin is highly undervalued and I expect the price of goods to drop in bitcoin terms. The one time I've actually purchased something with bitcoin I went to an exchange, bought the precise amount I needed, and used that. At some point, the value will go up and then I will have no problem exchanging it for whatever I need to live, be happy, etc.

If the price goes parabolic and you exchange it for a life changing amount of fiat money, then I'd say it's a bad trade unless it's simply an intermediary step to buy something else. Anything else is market timing and good luck with that.

50 sats \ 2 replies \ @0000 21 Jun 2023

Create a financial plan. Accumulate enough so you don't have to sell all of it. What that amount should be I could not tell you. Anyone who tells you to hoard at the cost of something that can improve your life is a fucking moron. If we are not doing this to improve our situation then we should just accumulate and delete the private keys for good.

Recognize the cyclical nature of Bitcoin. What do whales do in the cycles? They sell during those "life changing" moments to fund their life style. When Bitcoin cycles low during the 1-2 years leading up to the next halving they are accumulating off the funds they sold to sustain their lifestyle. On chain analytics is powerful. We can know the exact behavior of the entire network at any time of day. You can see fund flows and everything. You can know in real time what everyone is doing. This isn't some magic "technical analysis". This is real data analytics of a system and its network.

Do as whales do. If all you do is hold you do yourself a disservice but a service to other people. If anyone is telling you that you should only hold they are telling you this out of their own self interest. Do not listen. Whales are not doing this. Do with Bitcoin what you will. It is absurd people try to dictate to you how you should use it.

0 sats \ 1 reply \ @Bell_curve 21 Jun 2023

Good advice

0 sats \ 0 replies \ @0000 21 Jun 2023

I enjoy a compliment from an account that comments sparsely. I see you.

50 sats \ 1 reply \ @OneOneSeven 21 Jun 2023

BTC is the money

10 sats \ 0 replies \ @0xBTC OP 21 Jun 2023

my mortgage lender doesn't accept BTC lol

50 sats \ 2 replies \ @DarthCoin 21 Jun 2023

LOL shitcoiner...

0 sats \ 1 reply \ @0xBTC OP 21 Jun 2023

so you're taking your BTC to your grave?

50 sats \ 0 replies \ @DarthCoin 21 Jun 2023

You should remove "BTC" from your avatar name, it's a shame. You are just a shitcoiner pretending to be a bitcoiner.

https://i.postimg.cc/C1ZQHfMG/matrix-neo-2.jpg

100 sats \ 0 replies \ @sime 22 Jun 2023

The whole "never sell" mantra is unfortunately misleading.

The message is to never sell because of the price. Which means at do not see because Bitcoin price is super high, super low or somewhere inbetween.

But if you need to use your Bitcoin, be that to buy a house/car/pay off debts, then do it. Using Bitcoin is the goal, not selling it.

If using it requires swapping it for fiat first, that is just a detail.

15 sats \ 6 replies \ @Bitcoiner1 21 Jun 2023

My goal is to get a house, so yes I will have to sell some Sats for dirty Fiat... Sorry maxi Bitcoiners but I need a place to live.

The rest of sats, will be to hodl for a decade or two.

500 sats \ 4 replies \ @DarthCoin 21 Jun 2023

you can buy a house with sats.

0 sats \ 3 replies \ @Bitcoiner1 21 Jun 2023

If I want to pay with BTC, the markets narrow down a lot... Now days, all the houses selling for sats are huge ones and I'll be looking for something smaller.

50 sats \ 0 replies \ @DarthCoin 21 Jun 2023

Nowadays, I will not buy any house in a city. Are total garbage for a lot of money. If you really have to stay in a city, just rent, pay in sats, cheap, clean, simple., stack sats as much as you can.

If you move out of a city, you better buy land and start homesteading.

Real estate is a shitcoin.

0 sats \ 1 reply \ @sime 22 Jun 2023

On my brief interaction with an agent about Bitcoin, they mentioned they would accept it for a fee. Like a processing fee to flip it to fiat.

At first I was horried at the non-sense, but later I warmed to the idea. My hands were clean, wouldn't have to deal with fiat, and would happily pay for the convenience.

0 sats \ 0 replies \ @DarthCoin 22 Jun 2023

When you buy a house, it's a private contract. The seller and buyer cn agree whatever value of the house and payment method. The agent or gov have nothing to do with the terms. You guys, stop involving other parties to your private contracts.

0 sats \ 0 replies \ @0xBTC OP 21 Jun 2023

same thought process here, but they freaked out on me lol

0 sats \ 0 replies \ @ssaurel 22 Jun 2023

Selling your Bitcoin for weak money like the US dollar doesn't make sense.

Rather than selling your Bitcoin, a better option is to spend it within a circular economy centered on the Bitcoin system.

For me, Spend and Replace your Bitcoin is the New Bitcoin HODLing.

That's what we should be aiming for.

0 sats \ 0 replies \ @f6287b82CC84bcbd 22 Jun 2023

You won't have to sell when it goes parabolic...

0 sats \ 0 replies \ @2bithits 22 Jun 2023

Sell money?

I don't understand...

Spend money?

I understand this

0 sats \ 0 replies \ @faithandcredit 22 Jun 2023

It's possible when bitcoin hits $100k ppl will have a forest gump moment and be like "I'm tired, I think I will go home now" and find other interests

0 sats \ 0 replies \ @jgbtc 22 Jun 2023

I will never sell for the purpose of accumulating a different store of value, such as gold or (lol) USD. However if I want something bad enough, and the only way I can get it is by parting with some of my stack, I certainly would consider it. The annoying extra step of converting to the local currency first is irrelevant if it's necessary to get what I want. But as long as I have value that needs storing, Bitcoin is the only option.

0 sats \ 0 replies \ @Hypnagog 22 Jun 2023

Real estate in el salvador

0 sats \ 6 replies \ @sudonaka 22 Jun 2023

But when it goes parabolic it will be life changing money.... why would you get rid of it?

0 sats \ 5 replies \ @0xBTC OP 22 Jun 2023

We can't act like BTC is the reserve currency right now. I get that being able to hodl it for the long run would be ideal, but my idea is this:

If BTC were to go to like $500,000 (USD) then I would sell and pay off my mortgage. In that scenario, if anything catastrophic were to happen to the economy, I would have no debt to worry about.

In this case, BTC would have set me financially free for life, just have to pay utilities. I could also take like 75% of my paycheck and put it back into BTC over time due to the lack of debts to pay. I may never accumulate the same amount of BTC again, but I also may not have to work nearly as hard or much at my current job.

0 sats \ 4 replies \ @sudonaka 22 Jun 2023

Btc is my reserve currency. In a fundamental collapse- there would most likely be a debt jubilee and a collapse of housing prices your paid off mortgage would be completely wasted chips and there would not be a significant amount of available equity in your home.

As long as your interest rate on the debt is below inflation- it’s free money.

Unless you want to stop working or can’t work. But even in that scenario, I’d be much more confident having Bitcoin vs having a paid off loan which you can’t buy anything with.

0 sats \ 3 replies \ @0xBTC OP 22 Jun 2023

Collapse doesn't equal insane inflation. I mean if the job market collapsed, then I would have a home with no debt. I would also save hundreds of thousands of dollars in interest.

0 sats \ 2 replies \ @sudonaka 22 Jun 2023

Collapse would mean severe deflation. Your house would be worth 10-25mil sats while a few months before you sold 1 Bitcoin to pay it off.

This isn’t financial advice but I would never sell Bitcoin if I was expecting any kind of financial collapse. That’s kind of the whole point bro

0 sats \ 1 reply \ @0xBTC OP 22 Jun 2023

The last time the US has had deflation was 70 years ago. The last time we have had severe inflation was 1932 and we even had inflation in 2010 during the great recession. Not sure where you're getting that idea, but I'll take my chances that doesn't happen again in the near future.

0 sats \ 0 replies \ @sudonaka 22 Jun 2023

Your name is “0 x btc” and that’s where you are gonna be unless you change your mindset

0 sats \ 0 replies \ @ek 21 Jun 2023

One of my dreams is to get a private pilot license for fixed wings (PPL-A)

I plan to sell a small chunk of my bitcoins to fulfill this dream one day. (Or pay with bitcoin if that's possible at that point.)

After that, I want to try to get a CPL (commercial pilot license) so I can teach other people how to fly or do other stuff while flying and getting paid.