Guys a little update (and as I said, I would post here, and say when I sold, whether it was at a profit or loss).
I am now almost entirely out of BTC, having sold off over the last few days at between 13500-16500. I now have 384K USD in the account I use for my BTC.
Its a pretty awesome feeling when you start, over a day to see the account balance grow as you see - $18,000, $24,000, $38,000 etc ending up to $384000 which is what I now have. (Also sold the BCC I had which was very nice considering I got it for "free").
I am holding now a single BTC on my Trezor and a bit of shrapnel on some other wallets (and also very nominal amounts of ETH and BCC).
So, pre-empting the questions, "why did you sell GIB"? You told us it will keep going up. (Or as Mr A likes to misquote, "you told us it would hit 100K then 1 million)".
Well, first, as I have always said, I don't think BTC can be valued. So it its indeed possible it could hit 40K end of year, and 100K in 3 years. (It could also drop significantly). Just today 2 "leading Wall St analysis" came out with BTC outlooks for year end 2018, one at 1.8K and the other at 20K. Personally, I am very very happy with the gains I have made.
When considering my buying price, these are the biggest % gains I have ever made on an investment (gambling and poker etc aside). Mind-blowing really. Part of what changed my thinking was that I was looking at a car I like which is selling for around USD 80K (a top of the range hotted up 2018 Ford Mustang) I sold off 80K to put aside, basically "securing the car", and then when I saw the reality of the cash and what it could buy I kind of thought of the remaining amount as being another 3 cars - a dose of reality perhaps. I "invested" on the feeling that a trend would take place, and I was right. Not perfect of course - I didn't sell a month back at 19K+ (and indeed if prices hit 40K, then in hindsight my decision to cash out will be far from perfect).
Prompting another expected comment - "but you already (supposedly) have so much money, why not just hold BTC then" its also about not losing money. I like making money, and I don't like losing money. (Buffet rule #1 - dont lose money). (Also noteworthy, I was one of the few who got out of the NASDAQ before it crashed (actually way too early).
Almost all of my crypto friends are holding or buying right now. Both more BTC, and then alt coins. Some have over USD 2m in crypto (including one who has most of his entire net worth now in crypto as basically has decided its all or nothing for him) - I have had discussions with them about converting into "real money" but all are very much of the view that there is much much more upside - lets see.
Will I rebuy? Well as I have said, everyone should hold at least 1 BTC, (for many reasons). Its also quite possible, that after the current trend to alt from BTC, we will eventually see a massive swing back to BTC. I will elaborate in future posts. Will I rebuy BTC -yes for sure, if it has a substantial correction.
I'll reply to some of the other comments a little later - busy now. Just wanted to share the update.
