Oddbean new post about login | logout As much as they tell you the opposite, ever Bitcoin HODLer has a price at which they would sell
I'd never sell it all unless I'd also lost conviction in its future. There are price points where I'd trade some sats for the things I desire. There are prices where I think I'd rather have a little more fiat than I currently have (near zero right now). It was when I realised that I didn't want to sell it all that I actually went all in (except for the family home). I just prefer to hold Bitcoin than any other form of value.
I'll happily spend, but by choice will never sell unless family emergency and I can't buy what I need with Bitcoin.
I see no shame in selling Bitcoin. I've been selling it sat by sat for the last year after leaving the fiat mines. It's been emotional at times but it's also been interesting. It's also partly your fault. I ran the numbers & figured I could live forever by only selling 10% of my stack each year.
Ha ha...that is true. No shame in selling at all. It's your money, do whatever you want with it. If you can purchase what you need directly with your Bitcoin, I think that's the best way. But if you can't, you can't. The best thing about spending Bitcoin is that (at this stage) you're generally spending to someone that is trying to hodl just as hard as you are.
And if you have to sell for cash, it's less painful to sell your KYC stuff to an anon for a premium. At least you know they're going to value their KYC free sats.
Hodl Hodl?
Why sell if in a few years you can buy anything without exchanging bitcoin for fiat? Why sell if you can borrow against your savings and spend depreciating fiat? What to sell if bitcoin is money?
Bitcoin is money. Money is useful for what it buys you. At some stage it must be spent, otherwise this whole movement dies. (In my view)
Even the most loyal holders have life situations in which you are forced to hand over or spend what you have saved. People have always hated to part for example with gold, but they still spent/exchange it on what they needed. Speculation on bitcoin valuation in dollars - buy cheap, sell expensive - this is another area of asset use. If you save and in some way spend prior on your family needs and health, then this is exactly what bitcoin/money is needed for. But it's not about the selling price, feel me?
Which wallet do you recommend for long term holding?
Depends on what you are going to do with your bitcoin, will you use it as collateral, in DeFi products, or just hold it. In my opinion, in the case of #HODL, you need to focus on open source solutions, hardware wallets and use multi-signatures. The main thing is to securely store your keys offline and not tell anyone how much bitcoin you have.
But we’re talking about a lightning wallet, its use is not for any of that.
Who said we are talking about LN wallets? You asked about long-term storage, I answered. In case of lightning look towards self-custody wallets like @ZEUS and Phoenix
No, that was a response to another note.
What note?
I actually signed up for phoenix but don’t understand the app. It never gave the correct address format to recieve. Have you used phoenix?
Yes. Phoenix does not support LN Address like bitcoin@nip05.social, but LN invoices it generate works well. Phoenix wallet also supports Bolt12 payments - these are invoices that do not expire, i.e. something like a bitcoin address. If you want to receive satoshis from Nostr users via #zaps, you can't use Phoenix.
Update: BOLT12 lightning addresses are compatible with Nostr profiles https://bolt12.org/ux-design#social-integration