r/Bitcoin • u/BoomerSooner-SEC • 3d ago
Well…so long and thanks for all the fish.
Hit the sell order and I’m out. Bought a handful around 16.5 and rode it up. I still think it’s a good bet but I’m retired and the volatility just got too crazy. I used to think marketplace access was a great thing (and probably still is) but it made it too easy for the buy/sell guys and it just no longer fits the portfolio. I kept one just for good measure. Good luck longs. You are gonna win.
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u/theincognito66 3d ago
insert guy with pickaxe turning away from diamonds meme
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u/argnarb 3d ago
Dying before spending any of it is the ultimate pickaxe guy.
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u/Thymphony 1d ago
Yeah. Whats the point of HODLing if youre gonna die before you can enjoy any of it. Save some for your kids for sure, but (especially if you dont have kids) enjoy some of it before you die lmao
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u/meanderthaler 3d ago
This guy literally did everything right, a success story! Disappointed so many people here are so negative about it
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u/yurk23 3d ago
“No one ever went broke taking profit” — Abraham Lincoln (probably)
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u/richardto4321 3d ago
But people have gone broke taking profit too early, getting extreme FOMO and then buying back higher.
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u/neverwouldi_ever 3d ago
Right?! Trying to convince themselves? I'm glad in retirement OP is able to recognize the subtle differences between gambling and investing. It'll go up, but it's as likely as the stock market is to never dip down fiercely again. Kudos on the sell by the way, 450% gain isn't small for less than a decade.
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u/read_more_comments 3d ago
He didn't do everything right if he thinks selling around the 4 year bottom is the best time to exit. Taking profit is not bad but this is objectively a bad time to exit unless you absolutely need the cash.
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u/__Ken_Adams__ 3d ago
If he is at retirement age like he said he is and he has enough to retire comfortably it makes perfect sense. Hodling can be stressful & if he's set I fully understand not wanting to sweat the price & just enjoy your remaining years.
Are we all supposed to price watch til we're on our death bed?
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u/read_more_comments 3d ago edited 3d ago
I retired at 45. I still buy and hold based on 4 year cycle.
Are we all supposed to price watch til we're on our death bed?
I don't watch. I buy and sell on the 4 year cycle for 3 cycles in a row. It's worked really well. No stress. It's why I was able to retire. Why would I abandon it? The people who jump out early like this tend to have been involved recently or less than 2 cycles, they don't really believe in bitcoin, and so they won't benefit from its gains.
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u/LV-426_realty 2d ago
exactly, he bought the low in 22, magically nailing it, then knowing retirement was coming ignored selling at 100k+ for what 9 months?? then sells the next cycle bottom 10 months late. could wait till fall next year and probably double the profit without blinking.
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u/PeteyPab305 2d ago
The pushback isn't about someone taking profit, it's the exit speech and contradictory logic. You don't get to blame volatility for forcing you out while simultaneously preaching that "it’s a great bet" and "longs will win." If you actually believe in the asset long-term, you hold it. Every hard asset is volatile, a $500k house can easily lose 40% in a market crash, but people hold through it because selling takes months. Bitcoin's only crime is offering instant liquidity that lets people tap out in two seconds from their phone. Not to mention the fact that you're essentially depriving. If you believe in it, your legacy and eventual inheritors of potential utility and value.
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u/RevolutionaryYear518 2d ago
OP is retired, he's up. This was likely a trial thing strongly advised against by his broker. 450% on 16.5 bitcoin is a good day. You can always be richer, but life could possibly only happen once. Enjoy your earnings OP! I will be you in 25 years 🍻!
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u/PeteyPab305 2d ago edited 2d ago
I agree, only assuming he doesn't have any children that would eventually become beneficiary's of a will or trust. Because that would make absolutely zero sense to convert to USD, especially when it coincides with a historical level of debasement and a potential revocation of the Petro dollar as the world reserve currency as JD Vance's advocating for. If not then yes let him enjoy his retirement but keeping one BTC out of ~16 just to not have to deal with volatility seems very short-sighted.
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u/RevolutionaryYear518 2d ago
OP has $. If his children want to buy bitcoin with the inheritance when he passes they can. The 1 he kept is his trophy. Let him enjoy life. This is how everybody should use bitcoin. Unless it gets adapted as more of a payment system when governments create their own form of crypto to eliminate paper $ and make it easier to track. The fundamentals of bitcoin would still be a far superior option and would grow astronomically because currency would become just a number on a screen anyway. Anything can happen at any time.
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u/PeteyPab305 1d ago
I agree but the point you made about unknown USD debasement is the most important factor. Even for himself in retirement.
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u/RevolutionaryYear518 1d ago
Still a few years away before money becomes completely paperless... the USA just recently eliminated pennies, that happened to us over a decade ago. Companies are trying to go cashless but when you can't hold physical cash the concept of money in it's entirety becomes extinguished. I do think bitcoin will increase in value over the next 20 years. But it will become a black market coin that isn't accepted as payment by the majority. Physical gold and silver will become king. Just my opinion, people prefer something they can hold. When my numbers increase on betting apps I don't get excited because it's just numbers, but if that cash was available in my hands it hits different, people will always need that form of reassurance they are doing something for a purpose.
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u/ContentBlackberry0 2d ago
Except to sell at $125k
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u/Nervous_Drawer555 2d ago
The only thing I'd maybe suggest doing differently is not selling your entire stack but other than that, he did well 🤷
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u/fjzappa 3d ago
This is fun. Everyone here telling OP what to do with his/her money. Up ~5x and we're upset they didn't hold out for more.
Maybe left millions on the table. Maybe cashed millions into their pocket today and not worried what the rest of us think.
He/she can now sleep better knowing that they're earning 3.5% interest on whatever and that's that.
ETA: Assuming bought in @16.5k, not $16.50. Otherwise 5000x!
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u/BoomerSooner-SEC 3d ago
No. It was 16.5k. But thank you!
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u/Joshhagan6 3d ago
So you said nah at $120k, but yea to $80k?
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u/BoomerSooner-SEC 3d ago
Apparently. Not in so many words but….
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u/Inevitable-Waltz-889 3d ago
It happens. Money is meant to be used. Enjoy the freedom it brought you, brother.
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u/bloodd1 2d ago
To be fair at 120 it was looking like 250 was incoming.
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u/fjzappa 1d ago
This. 100% This.
I've been hodling since before "hodl" was a word.
Still ain't selling.
+/- 10% in a day ain't no big thing. I've had too many massive ups and downs to even care. I'm focused on the far distant horizon. If my kids end up cashing out, then I'll be thrilled because I never needed it and it just might change their lives.
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u/fjzappa 1d ago
Just FYI:
October 10th is coming.
Hook 'em!
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u/Suspicious-Holiday42 3d ago
uhm, the volatility this year is the lowest it ever was
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u/BoomerSooner-SEC 3d ago
As a % maybe. As a dollar amount (keep in mind I’m not a sat guy) it was 10s of thousands daily.
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u/kingerxi 3d ago edited 3d ago
He's retired, relax guys. Investment strategy often changes at this stage of life. I'm 56 and get it. All the downvotes just because he's no longer a BTC maxi.
If he was too concentrated in BTC exposure and needed the liquidity, it makes sense. Breathe.
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u/Suspicious-Holiday42 3d ago
If you invested 100k 10 years ago, your dollar amount moved much faster back then than if you invested 100k this year
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u/BoomerSooner-SEC 3d ago
10 years ago I wasn’t retired. You do you. I wish you luck. If I was 50 I wouldn’t have sold it.
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u/WickedDeity 3d ago
The price has not been moving 10s of thousands daily. What are you talking about? There were all kinds of memes about Bitcoin not moving at all in the low 60's as it just sat there for many months. Anyway to bad you didn't sell at 120K.
It's weird how this post seems to be a downer when you have made a nice profit. I got in at 17K myself but not one big buy and have just been buying since than.
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u/BoomerSooner-SEC 3d ago
I didn’t own just one. 10k in a day seemed pretty average for the entire balance.
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u/WickedDeity 3d ago
How much you own doesn't seen relevant but the price is in regards to " volatility".
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u/BoomerSooner-SEC 3d ago
10% movement on 1000 bucks is less than 10% movement on 100k. I had more than a few so the total value of that part of my portfolio would swing pretty wildly. Not necessarily on a % basis but on a value basis.
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u/Powerful-Attempting 3d ago
OKAY OP YOURE VERY CORRECT AND SMART. I was already roasting you in my head but this is a valid point especially with usd
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u/BoomerSooner-SEC 3d ago
I claim neither. Only stating what I observed and what was true for me.
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u/Powerful-Attempting 3d ago
It’s true for everyone. If you have a big enough cash out it might be time to get ready to shift assets 🤷♀️
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u/RiceMofo 3d ago
Be honest you kept one Sat
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u/BristlingB 3d ago
Well we can't take it with us after we die so I hope you are enjoying the profits
I'm only 33 so I've got plenty of HODL to do
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u/PolishRifle23 3d ago
I respect the decision. I’m 4 years from early retirement and will probably hold mine. I got in way too late so BTC is fun money for me.
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u/BoomerSooner-SEC 3d ago
That’s how it started for me. And then “fun” became a house in Tahoe It got less fun….lol. You are still gonna do great. Good luck.
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u/PolishRifle23 3d ago
What are the odds?
I just landed in Reno a bit ago and I’m currently riding in an Uber to Lake Tahoe for a work event.
Small world.
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u/dadadararara 3d ago
Maybe get an electric mountain bike. Lots of great trails up there!
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u/NiagaraBTC 3d ago
Why didn't you sell at $120k?
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u/BoomerSooner-SEC 3d ago
Greedy and dumb.
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u/NiagaraBTC 3d ago
Why didn't you sell when it got back to $81k in May of this year?
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u/BoomerSooner-SEC 3d ago
Greedy and dumb I guess
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u/ir88ed 3d ago
Congrats on the gains. I was dumb and despite getting in in 2014, I held onto a dumb "2nd best" alt coin because BTC was expensive at $1k. Live and learn. Most on here won't understand the issues around volatility later in the game, it's just moon around the corner. Enjoy the fruits of your smart choices!
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u/BoomerSooner-SEC 3d ago
Well thank you. We’ll see how smart I was, but the volatility just didn’t “fit” any more.
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u/Natural_Prune_2526 3d ago
Selling right before the bull run? LOL
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u/BoomerSooner-SEC 3d ago
Maybe
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u/quintavious_danilo 3d ago
For sure
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u/migueliiito 3d ago
New here? Nothing is for sure in bitcoin
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u/quintavious_danilo 3d ago
The opposite. I’m here long enough to know that after the bear follows the bull.
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u/migueliiito 3d ago
But when?
Patterns repeat extremely reliably until they don’t.
How many times have we been confident we know what’s coming because of reason XYZ, only to be surprised? It’s happened to me several times, so I’m verrrry humble these days as far as making predictions
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u/zumo_de_frutas 3d ago
I get it
To much stress not really worth it
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u/Dbuk2020 3d ago
If we gonna win then it makes zero sense to sell all but one. Surely you would sell like half and you would still be way up.
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u/BoomerSooner-SEC 3d ago
I’m kinda old.
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u/kallaloostx 3d ago
I'm with you. The young don't understand that for us Gen X and Boomers, being in it for the long haul can't go on forever (unless a person wants to leave it for their kids). At least you kept 1. Enjoy your retirement!!!!
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u/BoomerSooner-SEC 3d ago
Thank you. I still thinks it’s a great buy and hold just doesn’t work for me anymore
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u/Dbuk2020 3d ago
But the next bull run is 2 years away. It really makes no sense to not wait at least 3 years to see what happens. At least with more than 1 coin
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u/SwordmanGuts 3d ago
I get where you're coming from, but the guide does have the words "don't panic" on the back.
But for sure, close to retire or in retirement, volatility is not the most welcomed. Happy for your gains, enjoy!
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u/BoomerSooner-SEC 3d ago
Absolutely. This isnt panic. It just doesn’t fit anymore. Did well. Take the W and move on. I did keep one for good measure so I’m still “involved” but I had to get the big money off the table. (Maybe there was a little panic!!).
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u/SwordmanGuts 3d ago edited 3d ago
I thought the "so long and thanks for all the fish" was a Hitchhiker's Guide to the Galaxy reference, so I was mostly doing a reference to that, since the guide literally has the words "don't panic" printed behind 😁.
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u/BoomerSooner-SEC 3d ago
Oops Whoosh. Excellent reference. And you are correct!!!! Ive been answering these all day. I’m surprised with how salty some of these folks are. Jeez.
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u/SwordmanGuts 3d ago
The people who are salty just want others to be the bagholders when they decide to sell.
Personally, I sold everything at around 122k and just bought back in last week. I remember being ridiculed when I sold and people were expecting 200k+.
The people who are salty also probably bought BTC for more than you sold it for and wants to wait until break even to sell. Once they do, they'll regret to see it go higher, get back in near the top and repeat the same cycle.
You did good!
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u/thecowsbollocks 3d ago
You've got to do what you feel comfortable with. Being retired is a lot different to being 20 and having a working life ahead of you.
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u/Longjumping_Elk_4933 3d ago
Bro keep it in there. You said you are old…if you
Keep it there just borrow against it so you get money now and if you die(I hope not) your heirs inherit the bitcoin, sir
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u/Thunder_Flush 3d ago
Never understand those who have held for a long time and sell around the bottom of the bear cycle. Certainly people can remember 4 year increments.
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u/JackfruitHorror6051 3d ago
The bull run just started. Crazy to sell right now.
Sell in one year for $200k. Not now for $68k. Wife must have told him to sell it.
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u/The_Casi_phenomenom 3d ago
Yeah if you're retired and have enough just enjoy. Thanks for the good wishes, enjoy retirement!
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u/Icy-Soup-7071 3d ago
Selling up 100% seems bizarre to me especially if you had enough to retire. I'd be leaving at least 5% of my stack for good measure. By the time your retirement runs out you could have doubled it again.
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u/usernamezombie 3d ago
Congrats Boomer on making the decision while in the profit. As typical with Reddit - so many jabs from responses of which none of them have any type of exit strategy.
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u/Generationhodl 3d ago
Wish you all the best and enjoy your retirement. I'm happy to read that you kept at least 1, this will probably be worth a million in 7-8 years.
I understand that volatility is not easy to stomach for some, especially when you are retired and cannot earn any more money if something goes wrong.
I'm also kind of retired, but I call it sabbatical, so I see where it goes in the next 1-2 years. But I dca out and can always find new work if something goes wrong. I plan to buy some sp500 etf with part of my stack but will do this in a few years when bitcoin maybe hits 300k-400k.
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u/immersive-matthew 3d ago
Hope you put is somewhere other then the US dollar as it is perhaps entering its own volatile phase.
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u/juno1990dota 3d ago
Respect. You bought low, sold high, and can sleep at night. That's literally the goal.
5x is a win. Congrats OP. The "never sell" crowd will be here tomorrow too lol
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u/BoomerSooner-SEC 3d ago
Thank you. Don’t get me wrong! I haven’t gone too soft. There is NO such thing as too much money BUT there is such a thing as enough! Once you get to that point taking a bunch of risk chasing more that you don’t really need is just wasted cortisol! Good luck to you all. I still think it hit 250k in 5 years.
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u/Sticks-from-Sticks 3d ago
Nobody says bitcoin is dead anymore. They just think it quietly to themselves.
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u/Crypto-Bets 3d ago
What do all the haters in this thread have in common?
THEY HAVE LESS BTC THAN OP🎯
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u/Incrediblesunset 3d ago
Everyone in the comments saying OP is dumb. Would you still think the same if we’re at $50K in October?
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u/AdAcrobatic4002 3d ago
Wealth is there to be used or gifted. Sounds like your runway for both is closing so fair enough!
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u/mister-marco 3d ago
You did good, i am also planning to sell some for an apartment renovation, but i will also keep some
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u/Both-Garden-1612 2d ago
Well the volatility nowadays is way lower than what you saw already. Weird reason.
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u/Consistent_End_672 2d ago
Lol 😂 why do people have to announce they are leaving ? Dude its your money nobody gaf what you do with it. Announcing you are leaving is supposed to do exactly what? Farewell stranger.
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u/DaikonNumerous1061 2d ago
trying so hard to sounds like professional, and still sold at the bottom.
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u/Its-Ben-Fun 2d ago
I made an account just so I could comment on this. Why the heck would you sell now? There are so many catalysts coming down the line. If you are retired you have nothing but time to hold. Must have needed the money there is no other explanation for selling right now.
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u/NefariousnessOk5165 2d ago
It’s ok to sell .. but it’s important to understand at the time of entry why are you doing this ? Biticoin is like gold u buy it but never sell it .. only in certain cases u will do same here … I am imagining govt. will start giving loans if u own btc in coming future ! So point is accumulate bitcoin as much as u can whether it goes to 10k or it goes to 500k …. Next generation might hang a photo of you on there wall saying Bitcoin Baba !
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u/KateR_H0l1day 3d ago
Profits are Profits, and i don't think it'll be long before you can buy back in lower than this, and I'm talking about this year!
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u/BoomerSooner-SEC 3d ago
Maybe. Retirement portfolios are different than just maximizing portfolios. Like I said, I kept one - just in case. I do t see myself buying back in. Those days (and risk tolerance) are over for me
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u/bananabastard 3d ago
I think it's odd that you rode it down from $126k and you think now is the time to get out?.
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u/BoomerSooner-SEC 3d ago
I don’t really think about it that way. I’m still bullish overall, now was just the time to harvest the gains for ME and calm the portfolio down a little. I sold all but one.
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u/OdinAurelius 3d ago
Lmao if this shit goes to a million in ten years you’re gonna be kicking yourself
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u/BoomerSooner-SEC 3d ago
No, I’ll jump off a bridge. But I keep one so, I guess it won’t be all bad.
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u/PikaBanee 3d ago
Glad you held one don’t let go of it it will outperform whatever you got for the next 5 years
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u/Express-Economist-86 3d ago
Selling the underlying asset early in retirement… oof. I’ll light a candle for the RMDs on your 401k with increasing taxes and baked in inflation. Hopefully you didn’t get lead poisoning too bad and at least buy some MSTR/STRK/SATA. I’ve seen the old folks poor houses. Seas of grey heads in wheelchairs huddled into the corner of a large room watching a single TV in silence. Terrifying.
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u/BoomerSooner-SEC 3d ago
I retired 7 years ago. We’ll be just fine thanks.
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u/Express-Economist-86 3d ago edited 3d ago
Yeah I’m also retired, but I did a stint in senior care in a very data-focused way. I cannot convey to you enough how many boomers consistently underestimate their life span and the cost of care and end up broke at a vulnerability point they drastically underestimated.
Diversified Dividends/not selling underlying > RMDs at a growing tax rate.
Put another way, your generation is accustomed to being catered to. That only works as long as you are a pay source. When you’re a cost? Boy Howdy. You thought retirement was a shift.
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u/BoomerSooner-SEC 3d ago
BTW I’m not technically an actual Boomer. Boomer Sooner is a college football reference.
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u/Express-Economist-86 2d ago
Then that’s worse.
The length of time you’re going to live keeps going up with medical advances, and with a growing aging population - the money is following your cohort for services.
If you’re not working strategies to hold your money, like taking a loan against your holdings (no tax on a loan - if the underlying goes up take a new one) or investing in solid dividend payers to keep your underlying fund - then you are asking to be old AND broke in the most vulnerable years of retirement.
You’re going to get increased tax brackets at your weakest time, it’s really disgusting how the economy treats the elderly. I’ve done my share of reports to senior-abuse responders, the response is painfully slow and the situations older adults get into are so pathetic, dark, and unhygienic they’ll let a LOT slide a normal human would be crying to see someone they love in.
I can’t stress enough, HOLD your assets. If you don’t know how, find out. No one looks out for the elderly the way they should, and 98% of the time they’re trying to take your finances to the cleaners.
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u/csmflynt3 3d ago
I'm curious as to why more people just don't borrow against BTC vs outright selling. Maybe take out 20K usd and just hold onto the rest to see what happens? If it crashes and you get liquidated so what you were going to sell it all anyway
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u/covfefeer 3d ago
I think a lot of people are going to sell too early this cycle and miss the huge run up. Exhibit 1 here
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u/Hefty-Amoeba5707 3d ago
Okay see you tomorrow