When To Take Profits On Your Bitcoin
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- Опубліковано 26 лис 2024
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In this video, I discuss the best time to take profits on your Bitcoin-- which is never. As Michael Saylor has said: "Trading Bitcoin is a sign of lesser intellect."
Once you understand that Bitcoin is the hardest money that the world has ever known--
Once you understand that the fiat exits are being closed--
Once you understand that Bitcoin is the only life boat--
Once you understand that you cannot outperform Bitcoin over the long term by holding or trading other assets including other cryptocurrencies--
You will realize that only a fool would jump in and out of a life boat, after having once found the life boat.
The right time to "take profits" on your Bitcoin is never. In fact, the phrase doesn't even make sense:
Taking profits= converting the best money that the world has ever seen into a melting ice cube that you then need to immediately reinvest somewhere (and hope you don't make a mistake and lose it all or get rugged) in order to preserve its rapidly dissipating purchasing power.
In my opinion, the best time to sell your fiat currencies or other assets for Bitcoin was yesterday. The second best time is today.
If you wait too long, even your trading profits could end up trapped on an exchange or in a fiat bank. In that case, you won't have access to your weak money or to Bitcoin either.
The investment choices that you make today are going to have a huge impact on your family's finances, freedom, and security in the coming years. Choose Bitcoin.
Not investment advice! Consult a financial advisor.
Michael Saylor on trading Bitcoin:
/ 1667487250542649345
You're Running Out Of Time (Bitcoin):
• You're Running Out Of ...
I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos. My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.
#Bitcoin
#trading
#crypto
Disclaimer
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Thanks, Matthew. I’ve been a subscriber long enough to guess that the title would lead to the inevitable answer: Never. 😅
But I do have a request: BTC TX fees are through the roof, now. All I’ve been doing is buying for the past 18 months. Doing mostly DCA with a few lump sum buys.
I need education on strategies to reduce TX fees. I try to quickly remove purchases sats from my go-to exchange (Strike). Fees to send to my cold wallet is zero. But to preserve privacy I transfer from the first cold wallet address to a second cold wallet address. The fees on this second transfer are usurious! I paid $40 today to transfer $400 from a custodial address for a confirmation time of four hours. I don’t want to leave sats on strike’s addresses. But I don’t want to incur 10% fees. But I want to keep DCA-ing. How do I do this without such high fees?
My cold wallet (jade) allows me to customize sats per vB. But without knowing how the fee algorithms work, I’m concerned that my sats will end up in mempool purgatory for years. How do I avoid that by setting the right custom Sat per vB rate?
TIA
I am a dedicated Hodler, but there are times when I need to extract fiat to pay a bill. I also believe participating in the bitcoin circular economy is beneficial for adoption and network strength. Thanks Matthew for being honest and informed!
You probably shouldn’t be investing money you need for bills.
make sure to pay taxes, every liquidation is a tax event on most countries
@@Silver_Somethingisnt bitcoin just an enhanced savings account though?
@@Silver_Somethinglet him eat 😅
I appreciate this! I've debated taking profits after a huge bull run, but my instincts always lead back to 'no!' and this helps me see I should follow my instincts!
I really like your format of releasing shorter videos on an almost daily basis. I always have time for your content. Thanks you!
Thanks-- I appreciate your feedback
Hilariously sarcastic and informative as always Matthew, thank you.
Thank you Mathew a truly great teacher
I appreciate that!
Truly
"Why sell the winner to buy the loser?"
-Michael Saylor
Great quote
@@Bitcoin_University Thanks Matt!
But serious question how do we benefit from the price appreciation Of the bitcoin without selling. Leveraging it seems like a long time away
Can leverage it now but only by using non custodial options like wbtc so risky
Probably my most listened to UA-camr. Thank you
I appreciate your support-- what should I cover next?
@Bitcoin_University, Topic on why big assets management companies start to love BTC?
I am like Hal Finney; I only take 'profits' for necessary things like medical emergencies, etc. To me, this defines the nature of finite Bitcoin as a safe harbor. (ps I am using term "safe harbor" as originally it comes from maritime law and refers to a designated area within a harbor where ships can anchor safely.)
this is how traditional "savers " treat their index fund. bitcoin should be thought of the way that financial youtube thinks of a vanguard index fund. you just keep adding to it, and you only draw down when you stop working in order to pay to live.
Got on the row machine for the morning workout and pushed play, knowing "you never sell Bitcoin."
Then, Kratter starts dropping candlestick formations, and I'm like, "Wow, okay. He's going to show us how to trade this in 10 minutes."
I think I visibly smiled for 3 minutes straight, being caught on the joke. You got me. Funny stuff.
Go get those quick gains!
Excellent video. I love the sarcasm.
I usually buy when it is $63k and sell when it is $20k to help family in need.
I’ve learned DCA is the best strategy and don’t ever convert back unless you need to.
Another gem of a video!!!😊
Bitcoin itself is the profit 😏.
100%
I like taking out a small bit of btc after a massive pump, wait for it to fall back down and then put it back in. It’s not a massive loss if the price never goes back below that level (which seems unlikely) but it gives me the opportunity to get more sats in the likely scenario that it goes lower.
If you would not mind sharing, about how much dollar wise do you consider a small bit?
This is the best strategy.. The sats you increase this way actually actually has dollar value of 10x in next one year... ❤
Thank God I traded all of my CAD for BTC yesterday.
BTC is not for sale, it’s for my retirement if I am in need and if I am not in need then it will be passed over for my kids to help them start on this difficult complicated life. As always Matt your content are great 👍🏼
BTW all my holding of ETH are converted to Bitcoin 🎉
I sold a few ETH to buy a salon last month. I'm doing everything possible to continue DCAing into BTC and hold onto every Sat.
Thanks for all of your great videos. I think I can sell it at $150k or $200k then buy back when it is down next cycle so that I can have more bitcoin 😊.
Lmao, I knew the answer is never, but as soon as you started talking about specific candle shapes, I knew what the tone of this video would be. I’m glad that was the tone.
Without naming anyone specifically, some folks are just obsessed with applying technical analysis to something like Bitcoin. It’s absurdity. Fundamentals are everything here. Buy it whenever you can, and never sell it.
Thanks Matt! Bitcoin is a vessel of digital scarcity, an ark of value. Much more than a mere number on a screen.
Great metaphors
That “wow” as you’re zooming out at 1:13 had me in tears 😂 you really have amazing comedic timing and delivery Matthew 👏
Always great information Matthew. How about selling a portion of your bitcoin to buy a house to live in? I really want to wait till you can safely borrow against Bitcoin, but my wife isn’t so patient especially with a child on the way and living in a one bedroom apartment. I convinced her to at least wait until 2025 because of this likely upcoming bull run. Not to mention the current housing prices and interest rates
Matt, while I agree with you 💯 just imagine selling at 69k and then entering back at 16k
That’s 4 BTCs more, a world of difference
That's true, but no one can do that. No one
I'm curious what your opinion is on the Bitcoin bonds in El Salvador? How does that affect the country's performance in terms of financial stability. And I also think Argentina is poised to do that in terms of using the US dollar as a support system as well as Bitcoin and Bitcoin bonds.
I respect your admirable attempt to inform others about how USD is inflating and not worth using for profit taking. It's never time, taking profits is a bad idea you say. I agree on that level, but it's not completely true. What about moving into something slightly more stable than BTC for the reason of hedging and for buying goods. Have me on for an interview and we can discuss it.
Hello Matthew as an Argentinian I like your mentions of the devaluation of the peso! Everything you say is spot on
Milei 2023
Tech question for you Matt: you mentioned that you don't keep hardware wallets at home, do you therefore trust the extended public key stored in watch-only wallets to generate new receiving addresses for your multi-sig? If so, do you verify across multiple watch-only wallets to ensure no compromising has occurred? Or something else?
Thanks in advance for your effort, advice and content sir.
I don't think most understand...i will only sell Bitcoin if i am starving, desparate, or otherwise severely uncomfortable. Btc'ers understand that BTC is irreplaceable. So you cannot release it until you absolutely have to. This is what makes it SO valuable!
The more of your videos I watch the funnier they get. Great sense of humor I don’t know you don’t laugh a bit while recording. Can you do a video on how Bitcoin might be affected by a global war such as a ww3?
Thank you Matthew. During last bull and bear market I held on to my BTC. I’m now considering selling a part of my bag around the top and buy more back around the bottom. Roughly the idea PlanB floated. There appear to be some good top and bottom indicators. I could have quadrupled my bag had I done so the past two years. What’s your idea on this, please? The only risk I see is institutional fomo wrecking the four year cycle and thus selling at a perceived top while it only slightly dips thereafter and not being able to get in at lower prices than the prior top.
I’ve been polling some of the more “reputable “crypto UA-camrs (if there is such a thing😄) and the most common answer I’ve got was they’re “never “ selling but I agree with your view and some of the folks in the comments… do you hold until death? You have to have some fiat to make purchases and yes, enjoy life unless bitcoin does become a global currency which it’s not At the moment. You don’t have to sell all (as you’ve alluded to) but I think selling some amount at the top or relative top and Then jumping back in the bear market, (which I’m guessing might be somewheres around $40-$50,000 this time around) does not sound like a bad idea and one that I’m considering strongly. But I’m also concerned about this time around where banks, investment firms and whole countries have jumped into the fray so I haven’t made a definite decision yet but at the very least, I’m likely to sell some fraction at the top and buy back in in the next, hopefully bear market bottom.
One of my favorite videos from you. Absolutely crushed it.
I think the best plan is to buy bitcoin 18 months before the halving, sell 18 months after the halving then repeat every 4 years. I dont have a choice but will need to take profits in 2025 to cover my living expenses. for the next 4 years.
There is another benefit of BTC, since there is no control over its supply, the nation states can't play with it, like decreasing its value to increase their exports, BTC enables fair and free market.
As soon as you mentioned life boat example I started smiling hahaha!!
#BTC is the Apex baby!
Matthew, knowing the fundamentals of bitcoin has given me the confidence to say “number go up forever” … that said, I’ve considered saving a small portion of bitcoin to eventually sell to purchase a home while keeping the bulk of my btc untouched. While I hate the idea of trading BTC for real estate, the only vehicle I truly trust for making relatively quick profits is bitcoin. Thoughts on this idea?
I very much appreciate your channel and all of the information that you have provided. It has been instrumental in my journey. I watched the previous video that you had discussed this however, I still get confused at times. Isn’t the function of money at some point an exchange for us to Gain something else. It seems that if we always hold bitcoin it is almost as if we own a $1 million yacht but it sits in the harbor and never gets used. Could you maybe elaborate on this point more?
Hi Matt. Great video.
My wife and I were talking about national debt just recently and my wife asked:
" Isn't the national debt just a number and doesn't really matter, we owe money to china?"
I'm not smart enough to answer but I replied along the lines:
.. yes china has purchased some debt (t bills I think they are, and it's less every year). And the way gov buerocrats handle national debt is them kicking the can down the road. They'll have to massively dilute the currency to repay previous debt and as you've said before they'll never do a hard default but a soft one. I also said even if they keep going as they are we'll just see a larger gap between wages and home prices for example and the lender of last resort will almost certainly be the Fed. I've regurgitated things from your videos. Hope this makes sense
So i guess my question is.. why is the national debt not just a number and does it really matter? So I can have my wife watch.
Cheers!🧡🙏🏼🍊🥩
The results of “kicking the can down the road”, as they have been doing for the past few decades, are only beginning to manifest now. I am 40… my parents and grandparents reaped the benefits of “kicking the can down the road”. Maybe my generation is screwed… maybe not. I will survive because I have acquired bitcoin. But the generation beneath me are totally screwed. They are the first generation that doesn’t have it better than their parents. They are the generation that finally has to pay the bills. Majority of them will never be afford to own their own home. It is sad.
I grew up hearing the expression “We are passing the bill onto our grandchildren”. I was young when I hear that and didn’t care or understand. I understand it fully now. They printed money and printed money. Provided entitlements to the current generation which was paid for by debt. This was/is how you get elected. But now… that “number”, the national debt, is out of control.
And here is the kicker… maybe that system could have been sustained for another 100 years… another 100 years of gradually decreasing standard of living and ever increasing inflation supplemented by increasing wages.
The problem is this… bitcoin. The system only survived this long because there was really no alternative. There was no “currency” or store of value outside government control. Now there is. So… if you are a young person, or even a middle aged person, like me… are you going to keep holding your dollars which keep getting printed to infinity, or are you going to switch to bitcoin which cannot be devalued?
Gradually and ever rapidly, people are waking up and realizing they can sell their paper Monopoly money for something better… be it bitcoin or gold. But in this day and age, bitcoin is clearly the superior currency to gold, for many reasons.
Because of bitcoins discovery/invention… this is going to accelerate the death of the dollar. So… people who are depending on their social security/government pension… they are screwed. Totally screwed.
And that is my generation. By the time I reach retirement age, there will be nothing left. They won’t be able to print enough money to pay for peoples monthly retirement check to account for inflation. Thank god I am smart and have bitcoin.
I try to tell all my friends that their pensions won’t exist… but they don’t listen/understand. They have blind faith in the US government and the dollar. It it isn’t faith. They just don’t understand money.
exchanged some USDC for BTC today (!) and yesterday and tomorrow
I see BTC being the savings vehicle while we spend and pay taxes in USD. Do you still recommend the borrowing-against your BTC stack. If so, at what time dictates a safe time to do that? Is determined by the USD price, the maturity of the asset, or by the loan to value?
I'm sure when big tradfi players like blackrock and banks later get involved, there will be offerings for BTC loans. We shall see.
Personally speaking, I would only ever consider borrowing against my BTC if or when I can hold the keys to my BTC during the loan repayment period. I don’t think we’ve gotten to that point yet. I agree with gzl2008, the huge players will have to get involved with that before it’s a feasible (and safe) option.
I think you framed things in a powerful way. Another great video
You do not get to laud “Bitcoin’s four year cycle” over and over and then act like it does not present obvious opportunities. You are directly guilty of causing this trading mindset.
A few weeks ago I had to sell some BTC to pay a doctor's bill for cataract surgery. I offered her BTC or gold, but she wanted fiat. BTC had been flat for ages so I thought I was safe to sell 0.5 BTC till I could sell some gold to buy it back. Practically the next day, BTC started shooting up in price against GBP. By the time I bought back my 0.5 BTC yesterday, it had cost me almost as much again in the exchange rate loss as the doctor's bill! I'm sure there's a lesson there somewhere!
To it should be possible to somehow use the four year pattern with somehow selling at the parabolic move up. But then, agree kind of impossible to time the market. I would use gold btw, not USD.
If at some point you are sitting on a nice gain, take your profits and enjoy your life
Why does the SEC avoid taking action and stay silent against Ethereum when other several tokens being labeled securities? Thanks
When will it be easier to take your btc and buy substantial items with it directly? For instance, a house, car, travel, food, bills? This way, there wont be a need to ever convert back to USD.
I’m guessing in about a decade.
u can do it now with other bitcoiners - at the notary office you do a donation contract or a purchase contract with the minimum fiat price. thus we defund the state. the state will be last to accept a bitcoin standard for official affairs.
As I said, my question is regarding when will it be easily used to purchase substantial and important things. Not find another anon on twitter to barter with.@@cesuntbanii
Saylor mentions never selling Bitcoin and instead borrowing against it, but is the "Buy, borrow, die" model even feasible if you don't have at least high-8 or 9 figures worth of assets to borrow against?
If you understand the cycles and on chain analysis its better to take profits? Tks from Brazil
Past cycles are not a guide to future cycles. What if you sell and Bitcoin never comes back but keeps going up for years?
@@Bitcoin_University good point of view....tks a lot ...brazil is adopting a lot bitcoin
What about the 80% draw down in bitcoin price that seems to come with every four year having cycle? Should we at least try to time taking a partial profit during that drawdown ?
No, because you never know exactly when the drawdown is coming-- and one of these days the price may just shoot $100k higher without a drawdown, and then you'll be really unhappy and not know how to get back in
Assuming the ETFs will be approved, do you think there will be any upcoming pullback, or is it only up from here? Heard some info yesterday that suggested it may be possible. Preparing a decent purchase, so wondering your opinion on waiting for a dip or purchasing asap. (I think I know the answer, been watching you for quite a bit, but still, and for the algo, haha)
There will always be pullbacks. Nothing goes straight up.
I think you missed one of the points of the video if youre asking about pullbacks. You are not wise enough or a good enough trader and you havent watched enough yt vids to be able to sell the top and buy the bottom, so dont think about pullbacks, and just buy now and hold for decades
Bitcoin clearly has major tops and bottoms that offer the best opportunity to increase your stack. But traders and whales do thank hodlers for supporting the scarcity of bitcoin to make the harvest season more lucrative.
So I buy BTC and the just HODL it forever? Does I have any use?
We have a little way to go before bitcoin has accomplished its mission and if you have already accumulated a substantial amount at a low base price it makes sense to shave off a little of the hefty profits to spend in the short term. Let's say a percentage point here or there. However your general point stands.
BTC has already accomplished its mission, and will continue to do so for your lifetime.
@@edfox2725 i don't have much longer to live
I feel like your channel's videos can be broken down into three catagories:
-BTC=King; everything else=scams
-Diamond Hands/HODL, always and forever
-Trolling; either BTC FUD or Altcoin news
Don't get me wrong there's good info here, but using the three categories I can usually guess what a video's content will be based off the title 😂
Another great vid as always! I have a question that i'd love to have your wisdom on Matthew? Sometimes there are discussions about possible meteorological events that could take place in the very near future, one of which recently mentioned across a wide variety of channels was about a powerful solar flare that could most likely impact the internet worldwide for a period of time (days or weeks or months) ..in any case my question for you is would that impact ppl's holdings of BTC such that their wealth could be lost? If the internet went down, i imagine that would impact buying and selling certainly, but are you at all knowledgeable enough to theorize an answer here; would the record of blockchains be disturbed, damaged or destroyed possibly? Would your holdings be more or less at risk if the BTC you just purchased was on a cold wallet, a hot wallet, or still on the exchange where purchased? Any thoughts or insights would be fantastic! :)
I appreciate your work
Matthew this is another great vid.
Thank you for what you do for us your listeners.
I knew what was coming immediately after 0:50 :) Brilliant as always.
The question is when do we get to spend and enjoy our bitcoin? How much do you let it grow before spending it? Surely you're not going to hold it forever. What would be the point of Bitcoin if we never spend it?
Do you know how I can lend BTC for interest in a decentralized way?
Thanks Prof ❤
I will never invest in any other liquid asset, but I do have a time to sell, and a time to reinvest
When you are a loyal subscriber and you can't stop smiling as the video progresses cause you know what answer he's building up to :D
Thank you
Yes, sometimes in the past I thought to myself - shouldn't I sell some btc now when it's "up". But to sell means exchange bitcoin for... what? What store of value do I prefer to Bitcoin? The answer is none, so I never sold. I also had to find the humility to admin that I did not know what "up" or "down" is and thus trading doesn't make sense either. Besides, trading is rather time-consuming.
Hi Matthew if the off ramps get closed on the exchanges and one wants to sell a portion of their BTC to pay off debts (such as the mortgage on one’s house) how do you think that one would be successful in that scenario?
we will start using bitcoin as money among ourselves: hold or spend. you'll sell items for fiat to pay debt
Question: When to buy property with Bitcoin? Like a house.
While holding BTC is of utmost importance, people should not be afraid to purchase things with Bitcoin either. Spend and replace. If everyone with Bitcoin was only of the hodler mindset Bitcoin would be worth nothing.
Thanks for the video.
The thing I never understood is how to live off of bitcoin. Like say we reach 1m per coin and I have coin and want to retire. Everyone says "don't take profits," but f I don't then I'm stuck working.
So how do I live off it BTC and not sell? This, BTW, is why dividend stocks seem a better asset. I can spend the dividend and keep the stock. But IDk how to do this with BTC.
Matthew, why do you inject that pause in your name every time? Are you unsure of your last name?
Matthew : your comment about taking a loan in order not to sale …?
It's definitely a possible solution if the interest rate makes sense, but there are real risks including margin calls and liquidation if the price of BTC falls too far. There is also the risk that you won't be able to roll your loan after the term is up. I'll make a video discussing these thoughts in more detail soon
@@Bitcoin_University thank you . I would appreciate it. All while keeping in mind that some of us did sacrifice much for obtaining those sats. I do understand that they must be used :but we have the taxation issues… hence my question.
Thank you for all.
I’m a never sell one’s BTC enthusiast. But learning how to use that “thing of value” to increase one’s net worth without selling it is a level of financial literacy that is a learning process. Think like the rich and be rich is a motto I like. It doesn’t imply that I worship money, but it certainly acknowledges that it’s something to value. You can’t own enough BTC. But you shouldn’t buy BTC with $ you need to meet you obligations with.
Not sure if you’ll read this comment Matt but I’m curious what method you use to make your videos. I like the format & have thought of something similar for my channel but I’m not very tech savvy and because I have a day job, I don’t have a lot of time to research such things. I’d like to contribute to the cryptocurrency community from sharing with others the mistakes I’ve made. There are so many to make in this economic ecosystem it needs all the help it can get from honest, ethical people like yourself. I often say I’ve made every mistake you can make in cryptocurrency & still be around to talk about it.
Appreciate any info you care to share.
Warm regards,
Yes, happy to help you in any way that I can. I use a Mac desktop with a Blue Yeti microphone plugged into the USB port. Then I record my screen and voice using ScreenFlow (only available for Mac, I believe). You should definitely make some videos
@@Bitcoin_University thanks Matt, I’ll check it out. My wife & I are watching an HBO series called The Gilded Age. Written by Julian Fellows (Downton Abby). My wife’s eyes cross whenever I talk Crypto but I’m using the show as an example of the relationship between “old money” and “new money”. It’s starting to make sense to her & I’m finding the show a useful tool in helping her understand the importance of what is happening, how it’s relevant to our lives now, not a decade from now. I’d like to hear interpretation comparisons you may have filtered through your brilliant paradigm.
Thanks again, I’ll see if I can navigate the hardware/software to make a contribution. Appreciate the assist.
Best regards,
I’m just sayin..
How will we keep up with BTC transaction fees in the future? I just wanted to transact and it would have costed me 13 Dollars. One low transaction out of paranoia followed by the big sum makes it 26 Dollar for a single (two) transactions. I know there is the lightning network but I am talking about the bigger savings. Considering Mining rewards get lower, blockspace more limited and in demand, how can the average Joe still fit on the base layer?
We’re now entering the phase of this cycle where everyone on UA-cam starts giving their click bait price targets
This video is different, if you watch it to the end
I guess the anwer is simple; take profits on the top. Q4, 2025
@@Bitcoin_University I wasn’t talking about you haha. You’re one of two UA-camrs I actually listen to
@@drewkrassny7498 Take profits on June 3, 2025 at 5 pm MST. That will be the exact top according to my voodoo and crystal ball
Every time I sell fiat for Bitcoin feels like taking profits
Great video. Will the volatility of bitcoin stabilize and make the famous market cycle ups and downs in bitcoin a thing of the past? In that case HODL forever. We are getting it now...finally.
I’d love to hear your thoughts on borrowing against your BTC, opposed to selling it.
HE HAS A VIDEO ON IT ALREADY
Hey Matthew,
Do you think eventually, banks will allow you to deposit your bitcoin (keeping custody of your keys somehow), and they can lend it out to people for loans, while you reap some sort of percentage? I'm talking in 10-15 years time, when its worth millions. This way, you keep your bitcoin and never sell it, and make some passive money from it? If so, do you have any ideas of how this would be possible to keep custody while lending it out to banks?
I was thinking, you hold a key to a wallet, the bank holds one and a third party holds the third. If you'd like to withdraw from the lending process, you'd have to formally request it. The bank would only be holding a key to protect themselves from you just withdrawing whenever. They wouldn't be able to move your bitcoin at all. It's a rough start, so I'd like your thoughts, if any.
If something like this is ever possible, you don’t need a bank as a 3rd party overseer. Never “loan” your bitcoin where a bank or any other entity beholden to a government has any control. NEVER!
If something like this is possible, it will be enabled through a bitcoin sidechain controlled by smart contracts. Ensure that the sidechain is fully decentralized and the smart contract is full proof.
However, it is far too early to think about things like that. Currently, the focus is to build yourself and your career so you can accumulate bitcoin. Don’t even think about earning yield. Bitcoin is the yield.
You are looking for a shortcut. There is no shortcut. It is a cut throat battle to acquire bitcoin. Not earn yield on the bitcoin.
If your focus is to acquire yield on your bitcoin instead of acquiring bitcoin, you are going to lose.
@@reapercussvery interesting question and one I have also been thinking about. But in the scenario you mention you need a third -party ( beside the bank) that you need to trust for a multi sig set up. So then you need to trust two third parties to trust (the bank and the other third party).
@@CryptoDC- yep, that’s the problem. That’s why I was wondering if Matthew had any ideas on it. Who knows, maybe there will be a better way in 10 years, it would be nice
Take profits into what?
The manipulable dollar?
What profit.
Bitcoin is the thing that backs everything.
Great content as always! I know in at least one prior video you had mentioned the idea of borrowing against your bitcoin stack in a manner similar to how the wealthy do against their stock portfolios. Any progress being made in that area by any companies or banks?
Don’t! At least not for quite a long time. This is a very new market with lots of volatility and regulatory surprises. Don’t do it.
That is kinda of what I thought. Figured we are at least a few years out for something like @@edfox2725
When btc going down, 75% btc & 25% in physical usd and rebalance monthly. When btc going up, 100% net worth btc + take out every fiat loan you can. Cut your personal budget down as far as you can. Most people adjust thier lifestyle up with btc price and consume btc when it bottoms. Do not trade or hand your btc to anyone.
Hello Comments! I am new to Crypto but I can see the cyclical nature in which it moves. I definitely want to hold my Bitcoin forever, but do not want to ride it back down in the next bear market... Does it make sense to move it to a stable coin or a commodity like gold, and then buy back BTC at a lower price in the next BIG dip?
I do understand that the examples of USDT and Gold are not as sound as BTC (nothing is), but how do we avoid the very large downturns of the cycle??
Thanks for all you do!
No. Did you watch the video? That’s the same thing as trading it.
🤔Thanks for your opinion g. In my opinion, trading is more buying and selling in and out of an asset multiple times trying to catch small swings... I am talking about rotating out of btc near the anticipated top of this cycle (24/25) in order to protect gains from the downturn, ie. next bear market... Does that make more sense?
@@seananagins948 I mean good luck lol 😂
this channel made change opinion on BTC thanks to the LN. Surely I will do a video in Italian on the topic quoting this channel
A concern of mine is the Bitcoins that can be lost. If a person who owns Bitcoin passes away, their Bitcoins are also lost. How can succession planning be done for potential heirs of our satoshis?
I won't sell mine unless I truly need to, especially since most of it is in a Roth IRA, but hey, truly needing money pronto is an ever-present threat case for all but the truly rich. The number one cause of bankruptcy in the U.S.. is medical expenses, and everyone gets sick sooner or later. Heck, something going wrong with a single tooth can cost thousands and we have 32 of them. Even if I had to sell some or all of it, though, I would stay on the DCA bandwagon and keep trying to HODL more till the end of my days.
So dying while hording wealth through BTC. What's the point if you can't reap the benefits?
@@fred6907 We're all dying. And we all need to hoard wealth if we're not going to be broke when we retire -- if we even can retire. But we should allow ourselves some diversity in our assets when possible. After all, buying a house is not just an investment, but something you can actually live in and enjoy. And some people get a lot of satisfaction out of helping their kids with a downpayment for a house, or with their college tuition, etc. And most of us will have outsized medical bills sooner or later that have to be paid somehow. That money has to come from somewhere, and if BTC is the only place we can get it from, oh well, such are the facts of life.
Can you make a video about how we can avoid issues when depositing large amounts of money from an exchange? I personally like to use shipcoins as a cash grab (I know you don't agree) However, Besides Bitcoin which is 95% of my portfolio. My goal is to extract as much money from the market as possible to then turn into more Bitcoin. I would like to avoid however possible my bank account from being frozen for "suspicious activity" or anything of that nature. Thanks Matt.
So what you’re saying is that one dollar is equal to one Satoshi?
MORNING 🌄 MR. KRATTER.
Could you please make a video about a government's inflating their debts? Like how does that work?
Your viewpoint is only valid in retrospect. Past performance does not guarantee future returns
this vid is everything
Bitcoin IS the profit!
Thank you!!!
Love your content!
I appreciate that!
What are your thoughts on borrowing against bitcoin in the future? How do I utilize my stack 30 years from now without setting myself up for failure?
But how are we to enjoy the price increase on bitcoin? If we never sell
same question i had. why do folks get so excited off price increase when they’re never going to sell
Can you please discuss how to retire with a decent bitcoin bag?
This is great advice Matthew. I was recently saving a chunk of monthly income in a money market account to pay annual property taxes when I realized why not put it into Bitcoin since it will be worth a lot more when taxes are due in the spring. I have other Bitcoin that has been held for over a year eligible for 0% capital gains up to $60,000 so why not?
What kind of vehicle are you using that allows 0% capital gains?
@@motopolakIf you hold any asset for over 1 year it's subject to capital gains tax instead of income tax in the United States. It provides a 0% taxation bracket, around $89,000 for a married couple, $44,000 for an individual, and head of household around $59,750. I still have to pay state tax, but as long as I stay below 59,750 between *both" my income and gains, I pay zero federal tax
@@SatWiseJanxthat sounds state-specific (due to you having to pay state tax). From what I understand in most US jurisdictions it’s just a flat 15% capital gains tax after 1 year, with no exemptions. That’s pretty cool you have that option in the state you live.
@@motopolak 2023 US Federal Long-term capital gains 0% tax rates: Single: Up to $44,625 . Head of Household: Up to $59,750. Married: Up to $89,250. Capital gains apply to any asset held over 1 year. These are going up in 2024 to $47,025 (single), $63,000 (HoH), & Married stays at $89,250.
@@SatWiseJanxi see what you’re referencing now. The long term capital gain tax rate is based on your marital status + income bracket. So if one is single and makes less than $44k per year they have a 0% rate. But if one makes just a bit more at $48k, you get the 15% rate.
I spend time and effort
I earn coins backed by my country's ability to rein in the government (i.e. backed by almost nothing)
I trade as many coins as possible out of that circus each month into Bitcoin
"Taking profits" would be like escaping a warzone only to parachute straight back in
has anyone ever asked how many bitcoin do you have? Can you say lets say less than x or more than y?
Love the insightful sarcasm Matthew. Love it😂
The implication of saying "Never trade your BTC because it's so scarce that you won't make more in any other asset", is that we shouldn't start a business or buy investment real estate. Why would you - just put those funds into BTC instead, right? But at some point (and we may not get there in our lifetimes), we must admit that productive assets (businesses, real estate) have to have their place in any economy. So, and again this may not be true in my lifetime, but at some point it won't be to the good to keep it in BTC, and we'll be better off with productive assets. Now, that would require a token of responsibility on the part of the government of course. Which is a HUGE "if".
Matt thank you
Your sarcasm just printed a cup and handle haha.
That said, I think even among your smart audience many are going to try to "sell the top" this cycle before the winter, and since they have held for a few years they don't consider themselves traders or that your advice here applies to them. It does! don't bank on this cycle being the same