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That's exactly my attitude towards it too. But this has also given me a strong lesson for the future. If I get in on the ground floor of anything and decide to
by petercooper 6y ago
That's exactly my attitude towards it too. But this has also given me a strong lesson for the future. If I get in on the ground floor of anything and decide to sell out, always keep a little skin the game that you don't touch.. because you never know if it'll go big.
If the GP had sold 99% of his 3650 coins and kept 1% till now, that would still be $1.8m.
- SilverRed 6y agoWhen do you sell it though? If you had coins from 2011, is now the time to sell? What if it goes up 100x next year.
- dmwallin 6y agoSet yourself a threshold amount that you are okay with a 100% loss on, and a periodic schedule based on your risk-appetite. At each interval if you are above your threshold you sell your excess holdings and if you are below you sit tight. Alternatively you can set yourself a price threshold. For example, sell half your holdings every time the price doubles. Essentially this acts as a log function on your gains in exchange for lowering risk. There's a ton of room for fine tuning a set of rules to manage risk, as long as you are willing to stick to them.
- deleted 6y ago[deleted]
- petercooper 6y agoPersonally I would sell what I'd call the "FOMO holding" once it's worth a "life changing" amount of money. So if I held 100 Bitcoin as such a fund, that might well have been years ago, but then I'd also be retired and not care. The sister comment here is more nuanced and surely a better answer, though.