The Dangers of "Taking Profits" On Your Bitcoin

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At what price do you think that fiat will no longer be used because it will go to zero against BTC? What will happen then? Societies switching to BTC standard?

I'm in the camp of shaving of Bitcoin to buy things. In the end of your can buy freedom with bottom i think that's great. But only if you skim a bit of the top. If Bitcoin is 1 million dollars and you need a good car for getting around and it costs let's just say 0.01 BTC then that's great. But never ever would i give up all Bitcoin for a car or a house. Hope that makes sense. Like your said, just shave some off the top perhaps. 🧡🧠

So I'm curious, do you think BTC will be used in the black market? I called Unchained and they told me that before anyone sells BTC with them, they have to PROVE it was bought legally... is it going to be a bigger problem in the future?

What if after I take a loan and buy bitcoin, I sell just enough to pay the loan back?

Coming back to watch again... And again... And again...🧡🧡🧡👍🏼🫡

Love your content! You are one of the very few channels that I keep rewatching videos on multiple times.

Should I sell bitcoin at bull run to buy more at bear/down time?

hoping your pacific bitcoin talk gets posted, everyone was wondering where's Kratter? during the livestreams

👍👍

Great work as always but Then?Spend?borrow against Btc?Thank you!

End Goal is Bitcoin as a store of value and will be a retirement asset class aka you earn dividends from your spot Bitcoin etf

Apparently a nonbeliever in deflation. Herpty derp!

Never sell. Take out loans against your BTC.

My mistake was to not take profit in 2021

Heading to a safer Bitcoin country like El Salvador?
Do you know how safe El Salvador is? SMH. I’m from Latin America and I can tell you right now, El Salvador is not safe and it will never be safe. If you go there, you better carry a gun.

The year is 3028 and the only thing you CAN do with your BTC is to hold it, safely in self-custody and feel good about it :-)

It's possible that something may happen in the future but you wouldn't know. Not sure what the interest is in just saying stuff and rationalize it when possible sir. Good luck!

Yeah, I definately should not have sold my btc at 65k and bought back in at 20k. How terrible of me!
Who wants triple their bitcoin anyway!

Step 1 Take profits, step 2: start business fulfilling gov. contracts, step 3: profit

What would we do without you and the few other intelligent, kind and forward looking people like you available to us. Thanks Matthew.

Bitcoin will go to zero in the end. It's just a legalized ponzi scheme, nothing more.

This goes to all of you that jumped on me when I clearly said at some point one has to take profits when the opportunity is in front of your nose.
BTC never broke the 32 k n went down to 25k
Fortunately I did take profits, and bought back at cheaper price that I sold
Swing trading baby!!!!

Good advice, you could diversify and purchase other commodities such as cattle, gold, fuel, etc.. while keeping the bulk of your bitcoin. its no different than converting your money into the currency of a country you are visiting just enough to spend to enjoy life while you are visiting, and you can convert any left over fiat back into bitcoin assuming you dont wait too long to convert it and loose more to inflation.

Comedy gold in here - "Bitcoin will continue to go up forever" "Bitcoin is the apex predator" "Bitcoin is the best savings technology ever invented"

If you sell your Bitcoin now the chance that you'll be able to buy back and have the same amount it now in the future is slim. I don't play that game

Lol Dude it's all about MONERO!

Besides using it to pay the bills and buy things, the only time it makes any sense to sell bitcoin is around the start of the 12-month bear market that happens once every four-year cycle, with the goal of buying more bitcoin at the end of the 12-month bear market. So for example, selling around Oct 2025 and buying 12 months after that cycle peak. But like you said, there is a risk that whatever you convert your bitcoin into for the duration can be stolen.

Taking profits is dangerous? You should change the name of your channel to "Bagholder University" lmfao

what i love about these delusions is that after it crashes, bitcoin will be exactly as terrible but with a worse reputation so the chances of it ever being used are even lower

Cringe

This man is dumb❤

oh my god it will crash so hard

Great vid with very good and informative material.
Quick question Matt
Which bitcoin wallet would you recommend?
Thank you.

Well said!

One of the right answers is to buy your freedom from servicing a mortgage till you die or pay rent till you die.

Get an asset secured loan. Never sell your bitcoin.

Which profits?

While I don't think taking profits in fiat is smart, I believe one should spend Bitcoin whenever they have the chance on goods and services. This is the only way to create a circular economy, because only being able to "buy" Bitcoin is just as bad as only being able to sell it.

I appreciate this insight!

One more thing I believe not mentioned was the upcoming BRICS + SCO meeting. Eventually BRICS will create a gold-backed settlement currency, and will drop the Dollar. In addition, Saudi Arabia is dropping the Dollar, meaning the PetroDollar system is basically DEAD. De-dollarization is coming! That was an excellent point about having to make real estate repairs during times of high or hyper inflation.

Take a loan out against your Bitcoin and use the Bitcoin to pay off the loan. Voila no income! You just use Bitcoin to pay off a loan and get to write off the interest!

I called my mortgage company and they would not take bitcoin…

I'm getting loans off of my BTC at that price and never selling.

At some point we want to build a home with Bitcoin here in El Salvador and be mortgage free. Currently we are renting.

The timing is difficult for us because we know the value of the Bitcoin we spend will increase faster than the value of the real estate, and that this will always be true.

So building a home means sacrificing a lot of future wealth. For example, if we build for $150,000 worth of Bitcoin, the time will come where that Bitcoin would have been worth $1,500,000 to us. In terms of opportunity cost, that's an expensive house indeed.

That said, we need a home. We are in our late 30s early 40s and don't want to rent for much longer. It's a tough one.

Have you read the book Die with Zero? I think you do sell bitcoin at 1M and use the stored energy to enjoy what life you have left. We dont live forever.............

So if I never take profits then how would I ever benefit from bitcoin?

I'm dying with laughter 😂 - "you CAN convert your BTC into dogcrap, but..."

Thanks for talking about value vs price here. It's a recurring question in my mind.

Metthew, u never talked about bequeathing bitcoin. I solved the challenge by service of posthumous (postmorten) passing of the password. In Ukraine notaries dont want to deal with it, some passwords and so on. Not connected with the war.