Bitcoins/Litecoins/Virtual Currencies

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Onoes

Onoes

Trakanon Raider
1,473
1,264
Quick question - my bitcoin journey is basically this.
1.) created an account on Coinbase, bought bitcoin.
2.) bought a self custody wallet and transferred it over.
3.) held for the last couple of years - haven't bought more or sold any

Lets say that I wanted to pull 50% out, would the best course of action just be the reverse? Transfer it back to my coin base account, and transfer the funds into my bank?
I'm assuming that's how it would work, but am I right on that?
 
Arden

Arden

Blackwing Lair Raider
2,776
2,080
Onoes said:
Quick question - my bitcoin journey is basically this.
1.) created an account on Coinbase, bought bitcoin.
2.) bought a self custody wallet and transferred it over.
3.) held for the last couple of years - haven't bought more or sold any

Lets say that I wanted to pull 50% out, would the best course of action just be the reverse? Transfer it back to my coin base account, and transfer the funds into my bank?
I'm assuming that's how it would work, but am I right on that?
Click to expand...

You want to sell right before Trump designates a national bitcoin reserve?

But to answer your question, yes, that's the easiest way to do it. There are other ways but they are complicated and not worth it unless you are moving a lot of stuff.
 
Onoes

Onoes

Trakanon Raider
1,473
1,264
No, I'm not selling - if anything I wish I had bought more. I bought when it was at 40k... a few weeks later it was 17k. A bunch of people advised that I sell before I lose everything. My frame of mind was "As soon as I bought I basically assumed I could lose that money. If I sell now I will just feel stupid. If I sell now and the price ever goes up - I will feel REALLY stupid. If it goes to zero I'll just see it as a gamble that didn't pay off. I'm holding."

So that's what I did.

Anyway, one of my friends who is FAR more into investing, trading, and crypto talked to me last week to tell me he had his Bitcoin set to sale at 100k (I didn't even know that was an option), and he had just cashed out. He asked if I was cashing out as well and I said "Honestly I don't even know how, but I don't need the money and only see it going up, so not sure why I would cash out." He started talking about cashing out now and buying back in when it dropped... which sure, could work out, or could absolutely fuck yourself?

But yeah, I feel like I'm getting into this whole "Planning for the future" thing about 25 years later than I should have. My plan right now is to just accumulate things and let them grow.
 
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Arden

Arden

Blackwing Lair Raider
2,776
2,080
Onoes said:
But yeah, I feel like I'm getting into this whole "Planning for the future" thing about 25 years later than I should have. My plan right now is to just accumulate things and let them grow.
Click to expand...

I'm with you there. I paid pretty much no attention to investing until late 2021 and now I'm playing catch up big time.

The good news is that the tradfi to crypto paradigm shift is granting those of us who are late to the party a once in a generation opportunity to turbo charge our progress.
 
Jysin

Jysin

Ahn'Qiraj Raider
6,490
4,502
Arden said:
I'm with you there. I paid pretty much no attention to investing until late 2021 and now I'm playing catch up big time.

The good news is that the tradfi to crypto paradigm shift is granting those of us who are late to the party a once in a generation opportunity to turbo charge our progress or losses.
Click to expand...
FTFY
 
Tuco

Tuco

I got Tuco'd!
<Gold Donor>
47,796
82,215
Onoes said:
No, I'm not selling - if anything I wish I had bought more. I bought when it was at 40k... a few weeks later it was 17k. A bunch of people advised that I sell before I lose everything. My frame of mind was "As soon as I bought I basically assumed I could lose that money. If I sell now I will just feel stupid. If I sell now and the price ever goes up - I will feel REALLY stupid. If it goes to zero I'll just see it as a gamble that didn't pay off. I'm holding."

So that's what I did.

Anyway, one of my friends who is FAR more into investing, trading, and crypto talked to me last week to tell me he had his Bitcoin set to sale at 100k (I didn't even know that was an option), and he had just cashed out. He asked if I was cashing out as well and I said "Honestly I don't even know how, but I don't need the money and only see it going up, so not sure why I would cash out." He started talking about cashing out now and buying back in when it dropped... which sure, could work out, or could absolutely fuck yourself?

But yeah, I feel like I'm getting into this whole "Planning for the future" thing about 25 years later than I should have. My plan right now is to just accumulate things and let them grow.
Click to expand...
I bought a bitcoin as mostly a joke for $500. I've always joked to people that I'd sell it when it hit $1 or $1 million.

With $100k crossed the latter is looking more possible and I'm not sure I'd do it!
 
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reavor

reavor

I'm With HER ♀
<Bronze Donator>
5,238
18,150
I love buying the dip!
1734708301240.png
 
  • 1Worf
Reactions: 1 user
Izo

Izo

Tranny Chaser
19,549
23,738
Novo dropped 23%. FML. Down almost 40% this year. Been one way up last 10 years. If this continues my retirement plan will be working at mcdonald's. Shold I buy btc now?
 
  • 1Diamond Hands
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