[edited out]
Sure, the current situation and last weeks events is really bad. But in the bigger picture I still do believe that this will pass. Might set us back and take longer now.
I am now pro by any means. I went in to bitcoins quite big (for my age/economics at the time) close to the top 2013 (avg 650 USD). Was down on my investments for the coming years and told to sell from those close to me. I have made a lot of mistakes along the way, selling a lot in 2017, which I regret a lot. Been dabbling with altcoins. Have not increased my stack that much under the years either. Have moved around, started a family which has been prioritized.
What I have been doing more and more each cycle is to hold on harder and harder on what I have. Most of my coins has probably not moved in many years. I regret not buying more/DCAing. But in the end, I think I have it quite well and a lot better than all nocoiners..
Great. Thanks for your elaboration.
Even when I suggest that we are going through a lot of pain, currently, I am not considering that it would be a good idea to either bail ship or to sell on the way down. My ideas about selling bitcoin is to sell on the way up and buy on the way down... and if you don't want to do either of those, then just HODL your way through those periods - and surely the odds are quite great that the BTC price is going to be greater 4-10 years down the road than they are today.. but how much greater is not easy to determine in advance.. just that the odds are good and the price is not guaranteed.
Regarding your various mistakes along the way, those seem in the ballpark of similar to various kinds of mistakes that a lot of us make... and sometimes if we realize that we sold too much too soon, then we might end up back in BTC accumulation mode - even though we might have thought that we were starting to get close to graduating out of BTC accumulation mode... and so in that regard, even if we might consider ourselves to be a somewhat mature bitcoiner, we should not forget that accumulation strategies involve DCA, buying on dip and lump sum investment.. and even if we might have stocked up on bitcoin quite decently at BTC prices way lower than today's prices, at the same time, we might also have to remain aware that we might not get the same prices in the future.. so in that regard, we have decisions ot make regarding making sure that we are sufficiently comfortable that we are sufficiently and adequately prepared for UP.... just in case down does not happen before UP.
I know a person (maybe many of us know a person?) who largely accumulated most BTC around an average price of $500... so largely based on age and other factors, even though the stash was not very large, it was pretty much enough to live the remaining years 20-30 perhaps? without ever really needing to accumulate any more BTC.. .. just cash out $50k to $75k per year on average, and use that to supplement various other income sources - however, such plan did not go so well when mistakes were made and coins were not sufficiently and adequately preserved.. and so such person is back into accumulation mode.. even though such person thought that more than 3x the amount of desired BTC stash had been achieved... but now... not looking so great.. back to accumulating.. so what can be done... sometimes we are not serious enough about making sure that we are not separated from our coins (some relatively basic mistakes that are too embarrassing to describe)... and that our coins are sufficiently preserved.. and we are not being too greedy.. .. such as earning yield.
Also, what I am suggesting is that maybe you be careful not to make the same mistake of failing/refusing to adequately DCA right now.. .. and if you are not clearly and ambiguously in fuck you status or close to fuck you status, it might not hurt to figure out some kind of DCA level that is comfortable... since DCA'ing does not need to be an all-or nothing kind of situation.. and we can do it at any time, whether it is just $10 per week, $100 per week or some other comfortable amount.. that allows us to make sure that we are ongoingly clear that we are sufficiently and/adequately prepared for UPpity. .. and even if we believe that we might have graduated to BTC maintenance stage or to BTC liquidation stage - we also may well need to recognize that honest and realistic reassessment may well justify that we put ourselves back into BTC accumulation stage... even though we had presumed that we had graduated from that stage of our BTC journey... sometimes even if we are better off than a no coiner, we still may well be a low coiner, relatively speaking.. so we do need to figure out if we are being sufficiently and adequately aggressive enough in our ongoing BTC accumulations... even if sometimes it may well be uncomfortable.
On a personal level, for sure, I am also feeling like I am somewhat putting myself into a bit of an uncomfortable position to continue to buy and also to use money that I thought had been removed from my bitcoin investment... so it seems to me that if we know about bitcoin, we are almost obligated to continue to buy my lil precious and to continue to overinvest.. even if we have pretty strong conviction that we have enough.. that is a kind of ongoing uncomfortableness that I continue to feel in these price arenas, too.
Bitcoin
Crypto
Two different things
The bitcoin industry
The crypto industry
Two different things
The bitcoin space
The crypto space
Two different things
This is important for people to understand
@hodlonaut
I think you're preaching to the choir in these here parts.
Speaking in platitudes.
Crazy people deposited so much into FTX and bought their shittiest of shitcoin and had so much faith in them.
They've only existed 3 years.
A $32 billion dollar company supposedly with only 300 staff. What a f*cking scam.
What was BTC's market cap after 3 years? About $10 million? I only heard about BTC in 2013 and I always think I was early.
I admit I have used Binance but never left any BTC on there for more than an hour tops.
FTFY
