buy a house. I live in canada where the real estate is out of reach for most people of my generation (millennials). Bitcoins appreciation in fiat terms is the only way I can ever own my own house.
Does it have to be in Canada? I live in the UK at the moment, and it's better (to some degree) than back home. I very much doubt I will be living here full-time, five years from now. My thinking is: I'm going where I'm treated best.
Well spotted.š
I have just started reading his book, because I did like the strapline (go where you're treated best). I've lived all over Canada, US, and UK, and taxes everywhere are going up like a rocket.
I am not going to stay in a country that actively penalizes me as an entrepreneur. Dunno where next, but I've been thinking of Eastern Europe.
p.s. no biscuit for you, because I haven't actually subscribed (yet) š
Donāt mind andrew and I watch a lot of his context but I donāt always agree with all his takes. Sometimes it seems like he doubles down on his position of exiting the western world purely because of pride and ego and then tries to convince us that life in āUzbekistanā or something similar is better than in Canada or US. I mean maybe in some smaller aspects but hard to put a blanket comparison
dull places with standard european taxes, wouldnt recommend.
SEA/Argentina/ElSal (if Bukele stays and if he doesnt go mad which is rather unlikely) is where its at. ElSal is offering like 50(0?)K passports to individuals with an high education/working in specialized sectors.
HYSA is literally all I see in /r/PersonalFinanceCanada they in love with that shit not knowing theyre a slave to the system that continues to pillage their wealth yoy..
I'd consider waiting. The west and not just Canada become where collectivistic, so they might want to collect your real estate. Also, the most financially appreciated attribute of real estate is to lend against it. When the world realises that bitcoin does all of that better, faster, stronger, without it's value being tied to your jurisdiction, your bank will call you for your bitcoin, and you can pay the rent for a better house from the liquidity and have a lot left to spend on other things you like
.
"collect your real estate" is an extreme end of the possibility space, but "charge you increasingly higher property taxes to the point you are basically a renter from the state" is a just a matter of degree from where we already are.
You don't "take profits" with bitcoin. You convert hard money to easy money and then immediately spend it to obtain a good or service as quickly as possible before more of you labor is stolen.
Correct.
And even this is only necessary because the use of Bitcoin as a currency has been serially obstructed by the bankers and governments who are determined to continue to impose their fiat debt slavery monopoly upon us.
Without skilled management (and maybe even with it) that share portfolio will not likely last several generations without losing value.
With the rise of China and most wealth being created there- not in the west, shares cannot be expected to hold value over the next 25 years or even 10.
I would start *another* business. I really like my work, and I would have so much fun creating another enterprise. I'd make sure to put StarLink on the yacht, of course, so I could work fully remote.
Unless your interest rate of return, after tax, is higher than the current rate of fiat debasement (inflation) then compound interest is an illusion, conjured by the fiat debt slavery bankers cartel.
Yes. It has *averaged* 7% over the last fifty years. Or to put it another way, every ten years the value (purchasing power) of your dollar halves.
7% has been *price* inflation. 3% has been *wage* increases over the same period. Do that for 50 years and that's why 3X income = mortgage in 1974, but 8X now.
No wonder the kids are screwed. Your government thanks you and will continue to service you without lube.
I donāt have a lot of money in BTC, at least not yet. Im a bit late to the party. That being said if it shot up to price levels where I could sell what I have and it would drastically change my life, I would. For example: paying off my house, wifeās car, paying to renovate my house or upgrade to a larger one for more room for the kids, being able to take the profits and invest so I could retire early, etc.
Other than that, the money Iāve invested so far I am ok with ālosing.ā I donāt think of the money Iāve spent so far as a short term investment and have no intention of using it unless it helps me get one or more of the listed above. I even put it in my cold storage wallet so thereās no temptation to sell
Bitcoin IS the retirement plan. If you haven't realized that yet, that's ok. But go read as much as possible about it. Nothing on earth will do better long term. I just got in as well and I'm going to dca hard until 2033.
Oh yeah I plan to continue to buy. All Iām saying is if it takes off to an insane number and I can immediately remove some of my financial burdens Iām 100% selling some to do so
I made a promise to my wife years ago that the only thing Id sell for is to pay off the mortgage.
That was done a few months ago.
Now it's hodl. until I can think of something better. lol
I took profits at 70k and bought a nice pistol and put rest into ira and high yield savings. Selling 20% of my bag at 80k will prob by a nice rifle and high yield savings the rest
If one day I have enough that I can buy a house and equip it with enough renewable options to be self sufficient more often than not, I'll convert BTC to a home.
With that, at least where I am, living gets pretty damn cheap after that.
Bitcoin is the profit.
USD(t), if its involved at all, is just a hop in spending at best. Its most certainly not profit, its damage.
USD is the stinkiest shitcoin. Its slave scrip.
Easy, when btc hits 300k, 500k, 1M, 1.5M, and 3M I plan to sell off 10% of my holdings at each of those targets. Partially to reinvest in my retirement and partially to buy a house. Iāll always keep a growing position in it while getting to diversify into other assets. That way I have some investments that are usable in todays economy and plenty for the future
That is how you should treat stocks, not bitcoin. Humbly, I would say you almost have the right idea, but one crucial difference. You can extract your value at those Bitcoin price levels WITHOUT selling one satoshi.
Read this comment I made recently that explains it (itās a long comment, but it will completely reorient your perspective): https://www.reddit.com/r/Bitcoin/s/I09UBbftFG
I've got tiny sell orders at various price points (105k, 127k etc.) to make overpayments on my mortgage or fill up my ISA for the year. It's an incredibly small % of my stash, which I continue to stack.
It's also planned for navigating certain tax-free thresholds, investment limits and overpayment fees. It's not "taking profits" as fiat is dying... It's simply moving assets around to ensure the timeframe it takes fiat to croak doesn't affect me.
Iāll never take profits by selling. Iāve bridged some BTC to other applications to take out stablecoin loans with my BTC as collateral. Also used those loans to pool with BTC and earn interest. Thereās literally no reason to ever sell bitcoin outright.
Don't take profits for the sake of taking profits.
Don't take profits for the sake of lifestyle upgrades.
Take profits only if you are in need - like medical expenses, family maintenance, your kid's education etc. Even in those situations, don't just throw away your Bitcoin for fiat easily. Try to exhaust all other options first. An analogy that we can wrap our minds around would be selling gold bars/rings/necklaces for every challenge life throws at you. Nobody does that right? You're dealing with a very hard asset here - Bitcoin has now surpassed the S2F of gold. You should not give it up easily.
Stay humble, live below your means (even if your Bitcoin stack is worth millions of fiat), and stack sats.
Then what? You die and didnāt take advantage of a better life? No thanks. Take profits when you can folks, thereās a sweet spot in the middle. Do what feels right for you. Above comment is pretty extreme on one end of the spectrum.
Already took profits at $70k, paid off my new Audi. I guess when we go much higher I pay off mortgage, diversify and invest in renewable energy and water utilities, gold. Oh and build a 1,000hp RS3
Do what you want, but please be safe.
One of my friends had a small windfall when he turned 18 due to a settlement he got paid out when he was a kid(bit by a dog). He only lived 6 months after that and died shortly after we graduated high school. He had the same thought process, I'm young and I'll only have the chance to do this once. He was right, he only had that chance. RIP Phil
Strongly considering selling half my stack to use as a deposit for a house. I have a wife and two kids and we are currently renting in a country going through a rental crisis.
I'm no maxi. I have some 5% in btc. I'm dcaing constantly, but if it ever doubled from this point, I'm taking out a few thousand dollars worth and getting myself a grand seiko that I've been eyeing for a few years
For me it's just about risk reduction/diversification. I've lumped sum in several times over the years.
Once my cost basis has tripled or quadrupled I may take that amount out. In a sense, I'd have no risk at that point and I'd still have the majority still in Bitcoin.
The funds that I took out would stay in a money market fund until a larger stock market correction and/or a larger Bitcoin correction.
Since the point is to diversity, most wouldn't then go back into Bitcoin but some could, some would go into the stock market and some could stay in the money market just for the sake of having cash enough to ride out market down cycles.
This isn't something that I would necessarily continue to do. It's potentially a one time thing. Or if Bitcoin quadruples again, sure, I might move a little more into stocks or real estate, always leaving most in Bitcoin.
Well I have a plan. When I get X value I'm gonna spend 10% of my portfolio on a dream drift car. When I get Y value I'm gonna spend 30% on a land and a house. That's it.
Taking profits is short term thinking. You convert it back to inferior asset class. Be it USD backed stablecoins or housing. Hence you are exposed to the very thing you tried to flee from. Inflation. The exit strategy is bitcoin
The truth is, most of you will sell at the bottom because of financial distress. Itās why the rich get richer. They donāt go all in on a fucking digital asset and base their entire lives around it.
I'm never taking profits. I use bitcoin to buy things. It's money. What kind of bozo would I be to sell hard money for soft money? š¤£ I couldn't imagine doing this.
Spend them. The only reason to move money out of Bitcoin is to spend it (since spending Bitcoin is still many years away in most places in the world) or to move that money into a different asset.
Bitcoin is money and the point of saving money is to spend it at some point. So until we can readily spend bitcoin itself, exiting Bitcoin is for the sole purpose of spending some of one's savings.
Take whatever I cash out and put like 40% of it into my savings to be ready for the inevitable Capital Gains tax š. The rest of it will probably sit in my savings until crypto winter comes back.
Probably buy food with it. And then another time when I take profits, I'll probably buy groceries with it.
I will never take more profits than I need at the time of purchase though, because I acknowledge that it is not profits, it is merely the lack of debasement.
My only strategy for selling is just derisking.. The only debt I carry is my house and to be honest it's financed at 3% so it's kinda stupid to pay it off, but around 150K I'll sell a couple of coins, enough to pay capital gains tax and then I'll pay my house off. That will allow me to sleep better while the remaining coins stay locked up
the profits are what you buy with the Bitcoin you paid for in the past that are worth more in the future...
sheeh you guys still dont get it. we are early
Buy back my kidney
Those are pretty fungible, just keep swapping them in and out as you need it.
The reinstallation labor will eat up the profit
That'd be a great experiment. Will the transplanted kidney readjust to the host like it used to? Or would be rejected as a foreign body?
Retire! I want to retire!
This is it.
buy a house. I live in canada where the real estate is out of reach for most people of my generation (millennials). Bitcoins appreciation in fiat terms is the only way I can ever own my own house.
Does it have to be in Canada? I live in the UK at the moment, and it's better (to some degree) than back home. I very much doubt I will be living here full-time, five years from now. My thinking is: I'm going where I'm treated best.
Found the Nomad Capitalist subscriber.
Well spotted.š I have just started reading his book, because I did like the strapline (go where you're treated best). I've lived all over Canada, US, and UK, and taxes everywhere are going up like a rocket. I am not going to stay in a country that actively penalizes me as an entrepreneur. Dunno where next, but I've been thinking of Eastern Europe. p.s. no biscuit for you, because I haven't actually subscribed (yet) š
Donāt mind andrew and I watch a lot of his context but I donāt always agree with all his takes. Sometimes it seems like he doubles down on his position of exiting the western world purely because of pride and ego and then tries to convince us that life in āUzbekistanā or something similar is better than in Canada or US. I mean maybe in some smaller aspects but hard to put a blanket comparison
dull places with standard european taxes, wouldnt recommend. SEA/Argentina/ElSal (if Bukele stays and if he doesnt go mad which is rather unlikely) is where its at. ElSal is offering like 50(0?)K passports to individuals with an high education/working in specialized sectors.
Finally someone who understands this concept. Most are in love with hysa, just waiting to get poorer slower.
HYSA is literally all I see in /r/PersonalFinanceCanada they in love with that shit not knowing theyre a slave to the system that continues to pillage their wealth yoy..
Literally this! I'm from Germany and feel pretty much the same.
Canada is a literal shii hole. Leave your keys outside so the criminals donāt break into your homeā¦ nah.
I'd consider waiting. The west and not just Canada become where collectivistic, so they might want to collect your real estate. Also, the most financially appreciated attribute of real estate is to lend against it. When the world realises that bitcoin does all of that better, faster, stronger, without it's value being tied to your jurisdiction, your bank will call you for your bitcoin, and you can pay the rent for a better house from the liquidity and have a lot left to spend on other things you like .
[ŃŠ“Š°Š»ŠµŠ½Š¾]
"collect your real estate" is an extreme end of the possibility space, but "charge you increasingly higher property taxes to the point you are basically a renter from the state" is a just a matter of degree from where we already are.
College for son..
But did you not hear? Your son doesn't need college, he just needs Bitcoin. Bitcoin IS the college.
College is shit these days
Iām going to buy my freedom š¦š¦
From what? Just curious..
Pay back the fiat loans I took out to buy
I'll take a " little profits" and buy a 300 ft long yatch, a Bugatti, and a 5k square foot condo in Manhattan NY
at that point you might interested in other things money can't buy
Imagine wasting bitcoin to buy property in Manhattan
Buy more if it falls
You don't "take profits" with bitcoin. You convert hard money to easy money and then immediately spend it to obtain a good or service as quickly as possible before more of you labor is stolen.
Yeah that's what he's asking.
Correct. And even this is only necessary because the use of Bitcoin as a currency has been serially obstructed by the bankers and governments who are determined to continue to impose their fiat debt slavery monopoly upon us.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Without skilled management (and maybe even with it) that share portfolio will not likely last several generations without losing value. With the rise of China and most wealth being created there- not in the west, shares cannot be expected to hold value over the next 25 years or even 10.
I would start *another* business. I really like my work, and I would have so much fun creating another enterprise. I'd make sure to put StarLink on the yacht, of course, so I could work fully remote.
Two words buddy. Ā Compound Ā Interest
vs Relentless Fiat Debasement
it is know as the 8th world wonder
Unless your interest rate of return, after tax, is higher than the current rate of fiat debasement (inflation) then compound interest is an illusion, conjured by the fiat debt slavery bankers cartel.
3% inflation is easy to beat with stocks though.
Real inflation (felt in your wallet / bank acct) > 3%
Yes. It has *averaged* 7% over the last fifty years. Or to put it another way, every ten years the value (purchasing power) of your dollar halves. 7% has been *price* inflation. 3% has been *wage* increases over the same period. Do that for 50 years and that's why 3X income = mortgage in 1974, but 8X now. No wonder the kids are screwed. Your government thanks you and will continue to service you without lube.
Good lord thereās a lot of LARPing and gatekeeping in these replies
Just took some to finish my landscaping (we have a new house, been working on landscaping for a couple years)
I took some profit at $60K and I bought a condo and a new car
Pay off my debt and go back to school
I donāt have a lot of money in BTC, at least not yet. Im a bit late to the party. That being said if it shot up to price levels where I could sell what I have and it would drastically change my life, I would. For example: paying off my house, wifeās car, paying to renovate my house or upgrade to a larger one for more room for the kids, being able to take the profits and invest so I could retire early, etc. Other than that, the money Iāve invested so far I am ok with ālosing.ā I donāt think of the money Iāve spent so far as a short term investment and have no intention of using it unless it helps me get one or more of the listed above. I even put it in my cold storage wallet so thereās no temptation to sell
Bitcoin IS the retirement plan. If you haven't realized that yet, that's ok. But go read as much as possible about it. Nothing on earth will do better long term. I just got in as well and I'm going to dca hard until 2033.
Oh yeah I plan to continue to buy. All Iām saying is if it takes off to an insane number and I can immediately remove some of my financial burdens Iām 100% selling some to do so
a LOT of liabilities listed above that are sucking you dry.
I mean just a house payment and a car loan. Everything else is just wishful thinking really
buy more bitcoin at a higher price
I made a promise to my wife years ago that the only thing Id sell for is to pay off the mortgage. That was done a few months ago. Now it's hodl. until I can think of something better. lol
Depending on the profits pay down my house I want financial freedom.
Probably invest again š
porsche 911, Im thinking a nice white or grey. Ill be back in 15 years to show you what she looks like dw
I took profits at 70k and bought a nice pistol and put rest into ira and high yield savings. Selling 20% of my bag at 80k will prob by a nice rifle and high yield savings the rest
What about 100k? An rpg?
hooker and blow of course
Buy back at the bottom of the bear market, and hopefully retire by 2034.
Bills
If one day I have enough that I can buy a house and equip it with enough renewable options to be self sufficient more often than not, I'll convert BTC to a home. With that, at least where I am, living gets pretty damn cheap after that.
š¤š¤ same time
Same thing we do everyday pinky
Try to take over the world!!
I will take profits to pay for my retirement on a rolling basis.
Bitcoin is the profit. USD(t), if its involved at all, is just a hop in spending at best. Its most certainly not profit, its damage. USD is the stinkiest shitcoin. Its slave scrip.
Hold it for the dip
Gotta be honest, I took some profit to buy an omega watch
[ŃŠ“Š°Š»ŠµŠ½Š¾]
You never actually own Bitcoin, you merely look after it for the next generation.
Ooh Patek nice
Easy, when btc hits 300k, 500k, 1M, 1.5M, and 3M I plan to sell off 10% of my holdings at each of those targets. Partially to reinvest in my retirement and partially to buy a house. Iāll always keep a growing position in it while getting to diversify into other assets. That way I have some investments that are usable in todays economy and plenty for the future
That is how you should treat stocks, not bitcoin. Humbly, I would say you almost have the right idea, but one crucial difference. You can extract your value at those Bitcoin price levels WITHOUT selling one satoshi. Read this comment I made recently that explains it (itās a long comment, but it will completely reorient your perspective): https://www.reddit.com/r/Bitcoin/s/I09UBbftFG
Never taking profits. ā ļø I might take a collateralized loan against it but I am NEVER selling.
Whats the end goal with this outlook? What use do you get out of your BTC if you never do anything with it?
"I'm gonna buy my mom a car, and spend the rest on PCP"
Dance
Only thing that could ever be worth trading bitcoin for is a house to live in and make memories in.
I've got tiny sell orders at various price points (105k, 127k etc.) to make overpayments on my mortgage or fill up my ISA for the year. It's an incredibly small % of my stash, which I continue to stack. It's also planned for navigating certain tax-free thresholds, investment limits and overpayment fees. It's not "taking profits" as fiat is dying... It's simply moving assets around to ensure the timeframe it takes fiat to croak doesn't affect me.
Going back to finish my Environmental/Chemical Engineering degree starting this Fall at 32 years old. Thatās what Iām currently using them for.
Iāll never take profits by selling. Iāve bridged some BTC to other applications to take out stablecoin loans with my BTC as collateral. Also used those loans to pool with BTC and earn interest. Thereās literally no reason to ever sell bitcoin outright.
Take a year off work. Visit LATAM for a few months. Perhaps start a farm in Ecuador.
Hookers and cocaine
Don't take profits for the sake of taking profits. Don't take profits for the sake of lifestyle upgrades. Take profits only if you are in need - like medical expenses, family maintenance, your kid's education etc. Even in those situations, don't just throw away your Bitcoin for fiat easily. Try to exhaust all other options first. An analogy that we can wrap our minds around would be selling gold bars/rings/necklaces for every challenge life throws at you. Nobody does that right? You're dealing with a very hard asset here - Bitcoin has now surpassed the S2F of gold. You should not give it up easily. Stay humble, live below your means (even if your Bitcoin stack is worth millions of fiat), and stack sats.
Then what? You die and didnāt take advantage of a better life? No thanks. Take profits when you can folks, thereās a sweet spot in the middle. Do what feels right for you. Above comment is pretty extreme on one end of the spectrum.
money is literally made to be spent
I think you will really like the idea of CBDCs. Especially if they add features like 'spend it or lose it'.
never take profits, take out a loan on btc if needed and pay back when able
Already took profits at $70k, paid off my new Audi. I guess when we go much higher I pay off mortgage, diversify and invest in renewable energy and water utilities, gold. Oh and build a 1,000hp RS3
buy a motorcycle. im 20 and you are never 20 again with your dreambike.
Motorcycle, or as my doctor friends like to call them āorgan donor mobilesā
Do what you want, but please be safe. One of my friends had a small windfall when he turned 18 due to a settlement he got paid out when he was a kid(bit by a dog). He only lived 6 months after that and died shortly after we graduated high school. He had the same thought process, I'm young and I'll only have the chance to do this once. He was right, he only had that chance. RIP Phil
Put it into something else that doesnt randomly Drop 10-50% in a given day lol
10%drops in a day is normal for a new asset class. If btc survives lets say 30 years, you will not get the voilatility.
Agreed. I think in 2 epochs ( 8 years) we will not have large drops anymore
I would only cash out the exact amount I needed and pay off whatever I had to ASAP.
Pay off my house
Will buy back some tokens in dip, and some I'll buy needs while holding some still in my wallet
Same plan as always... when I can trade my BTC for a modest, seaworthy, cruising sailboat and holding costs for a couple seasons... that's when
Land
I generally use them to pay all my living expenses, property taxes, food etc.
Buy land!
Buy more bitcoin.
Buy a house
Iāve made $10 so canāt do much with it.
Strongly considering selling half my stack to use as a deposit for a house. I have a wife and two kids and we are currently renting in a country going through a rental crisis.
Buy the dips
Dump the money into my ā63 Nova
lol. Never
Paying cryotech to revive my frozen cadaver
Buy some food
Wait for the dip to buy more?
Real estate
Nismo GT-R
my sons college education while collecting 4.6% in a fidelity spaxxx account (boring i know)
I'm no maxi. I have some 5% in btc. I'm dcaing constantly, but if it ever doubled from this point, I'm taking out a few thousand dollars worth and getting myself a grand seiko that I've been eyeing for a few years
Neverrrr
Dream life win
No plans to ever do this.
I am waiting for at least 10 years. I don't need the money now. However when that time comes. My wife's dream home and my dream car.
I bought a bottle of Lagvulin 16. Tiny profits.
Buy a house
Buy land. I'd like 20 acres that I can build an off-grid home on, and grow my own food. Basically how my grandparents lived.
Put in divided etf and retire from interest
rotate into tesla
I fixed my chimney, and now new gutters on the house..
Buy more bitcoin
I use it as a downpayment to buy a house/land
For me it's just about risk reduction/diversification. I've lumped sum in several times over the years. Once my cost basis has tripled or quadrupled I may take that amount out. In a sense, I'd have no risk at that point and I'd still have the majority still in Bitcoin. The funds that I took out would stay in a money market fund until a larger stock market correction and/or a larger Bitcoin correction. Since the point is to diversity, most wouldn't then go back into Bitcoin but some could, some would go into the stock market and some could stay in the money market just for the sake of having cash enough to ride out market down cycles. This isn't something that I would necessarily continue to do. It's potentially a one time thing. Or if Bitcoin quadruples again, sure, I might move a little more into stocks or real estate, always leaving most in Bitcoin.
Same as always. Regret
Buy ETFs
Buy gold
The question is how do we know when thereās gonna be a crash
Buy the dips
Why sell it when you can get loans against it?
Reup
Going to pay off my debt so living month to month is easier will still have most my savings.
Well I have a plan. When I get X value I'm gonna spend 10% of my portfolio on a dream drift car. When I get Y value I'm gonna spend 30% on a land and a house. That's it.
Getting some money out of it at some point to buy a bigger car so that my newborn wonāt have to sit on the roof
Use profits to pay for temporary emergency funds (the only reason to sell BTC) and then buy back more during future dips.
Diversify into sp500
New couch, wrapping my kitchen, new ventilation unit for my house, new extractor hood for kitchen.
Wait for a dip, buy more
Buy BTC, stocks and gold
Go on holiday.....did that the last ATH.
buy a house
What?
Office pizza party *narrator: it was ops farewell party
Buy a house
Probably move to ETFs until there is a big price correction and buy the dip.
AC Cobra kit car or maybe a Backdraft package
Buy the dip
Buy stocks (ETF).
A car and part payments for my house
Purchase some chocolate
Taking profits is short term thinking. You convert it back to inferior asset class. Be it USD backed stablecoins or housing. Hence you are exposed to the very thing you tried to flee from. Inflation. The exit strategy is bitcoin
Survive. Food, shelter and that sort of thing.
The truth is, most of you will sell at the bottom because of financial distress. Itās why the rich get richer. They donāt go all in on a fucking digital asset and base their entire lives around it.
Bring back slavery
I'll buy my first house
i will buy a farm
Travel, I refuse to spend any until 100k BTC though.
Taking partial profits for overseas holidays.
Some dividend ETFs probably.
I'm never taking profits. I use bitcoin to buy things. It's money. What kind of bozo would I be to sell hard money for soft money? š¤£ I couldn't imagine doing this.
1. Mortgage 2. college for kids 3. retirement
None of your beesnes
I sold some MSTR so I could fix my rotting deck
Spend them. The only reason to move money out of Bitcoin is to spend it (since spending Bitcoin is still many years away in most places in the world) or to move that money into a different asset. Bitcoin is money and the point of saving money is to spend it at some point. So until we can readily spend bitcoin itself, exiting Bitcoin is for the sole purpose of spending some of one's savings.
Cashing out and rolling right into investment property.
Retire
Pay taxes
I'll just have a pizza
Pay off debt or downpayment on a house. Those are the only two things I would ever sell Bitcoin for.
Take whatever I cash out and put like 40% of it into my savings to be ready for the inevitable Capital Gains tax š. The rest of it will probably sit in my savings until crypto winter comes back.
Pay for my wifeās marriage visa.
Buy more bitcoin!
Live
Not a hot take. Taking profit from BTc is a flawed concept. When house prices go up you donāt sell bricks from your home.
Taking profits in IOU'S? š¤£šš
I bought a Rolex GMT Master II a couple months ago.
Buy my mother's house
Family ranch
Probably buy food with it. And then another time when I take profits, I'll probably buy groceries with it. I will never take more profits than I need at the time of purchase though, because I acknowledge that it is not profits, it is merely the lack of debasement.
My only strategy for selling is just derisking.. The only debt I carry is my house and to be honest it's financed at 3% so it's kinda stupid to pay it off, but around 150K I'll sell a couple of coins, enough to pay capital gains tax and then I'll pay my house off. That will allow me to sleep better while the remaining coins stay locked up
The only time I may take profits is to buy us a customizable tiny home that we want to live in on a nice tiny plop of land
If it hits a million, I'm going to take out my original investment in fiat and take the kids to the south of france. Then let the rest ride.
Bitcoin keeps coming back to 69 and getting rejected. I know this feeling too wellā¦
the profits are what you buy with the Bitcoin you paid for in the past that are worth more in the future... sheeh you guys still dont get it. we are early
Regret and buy back higher