The Dangers of 'Taking Profits' On Your Bitcoin

Learn to buy anonymous Bitcoin:

In this video, I discuss the dangers of "taking profits" on your Bitcoin.

Converting a really strong asset into a weaker asset is never a good idea-- and it's an especially bad idea against the backdrop of high inflation.

If you put your investment profits into a bank, your money can be frozen or hair-cut as part of a bank bail-in.

If you invest your profits in any asset that doesn't keep up with the high inflation, you risk once again losing some or all of your purchasing power.

Even buying hard assets like a house can be a mistake, due to the high maintenance and replacement costs that come with high inflation.

The whole idea of even wanting to "take profits" demonstrates that someone is still trapped in a fiat mindset.

Learn to value your wealth in Bitcoin.

Not investment advice! Consult a financial advisor.

What Is Bitcoin's Ultimate Price Target?

Capital Gains Tax Calculator:

Lebanese banks to shut indefinitely after flurry of holdups:

Cyprus central bank announces 47.5 percent haircut on large Bank of Cyprus deposits:

Gold price in Weimar Marks:

USD to Turkish Lira chart:

USD to Argentine Peso chart:

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
#inflation
#banks

Disclaimer

[Bitcoin_University]

WARNING: There are a number of scammers who are using my image and
channel name to try to connect with my viewers on WhatsApp and other
platforms to scam them. Just so you know, I will never refer you to
"my personal trader" or try to connect with you personally to sell you
something. I am trying to ban these scammers as quickly as they pop up. You can
always recognize a scammer by clicking on the image and seeing how
many videos he has. All of these guys have zero videos, while I have
hundreds. I also now have a checkmark next to my name, so that you can distinguish the real Bitcoin University from the imposters. Follow me on Twitter @mattkratter

[sumtingwong]

Fortunately I'm in a position where I don't need to tale profits. Hopefully I don't need it in the future. I'm going to download this video and put it on a drive taped to my ledger. When I eventually give my 12 year old daughter my bitcoin, there will be a note to watch this video. Hope she makes good choices. Thanks Mathew.

[robbendays]

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

[krob]

Whatever you want to save, put it in BTC and use cold storage. Use that instead of a savings acct at a fiat bank. Use only for emergencies.

[becoming_joel]

I love your presentations, atticulations, and perspectives. Earned a sub. 👍

[kevinjackson]

This topic has been weighing pretty heavily on me lately in preparation for the next bull run. Glad you posted this, Matt!

[rsheridan]

Hi Matthew - well I’ve done it!! I’ve sold my residence (which was getting far too big for me anyway) I’ve invested all the proceeds into BTC and I have found a stunning apartment overlooking the ocean which I will now rent for the rest of my life No maintenance no worries and my savings will never be subject to theft (inflation) or confiscation by any government. I can’t tell you how grateful I am for your words of wisdom and introducing me to the Bitcoin rabbit hole- thank you 🙏

[nobody-xg]

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

[yankeesuperstar]

I traded some profits and exchanged to Bitcoin about 6 months ago- gonna get crushed- truly amazing. I’m very greatful for your content brother from SoCal 🙏🏼

[Johntron]

I’d rather borrower against my bitcoin at a very conservative loan to value ratio and use the monopoly proceeds to cover my fiat life expenses. Will likely take years before we have sufficiently trustworthy lenders to custody the pledged collateral, but I’d rather take that risk than the risk of selling the best collateral in the world.

[roaryscott]

What about selling a small amount to put a roof over your head? Off-grid, solar, regional etc

[berniebilicki]

Thanks, Matt....sobering and practical....hoping i don't have to leave the

[modollaz]

This assumes the internet will continue which is required for the nodes to communicate. Converting a portion to physical gold is not a bad idea. Ideally direct from BTC to Gold bypassing Fiat altogether.

[jonyclapes]

Love the concept, but what would be the best way to leverage the value of your bitcoin to improve your quality of life without converting into fiat?

[kimgaugemusic]

The other problem with buying and selling your house is that you have to go through the bank (at least here in Greece) and if you don't the tax authorities take it upon themselves to tax you HALF of the purchase or sale price.

[nitemare]

Thank you for video been telling people stop taking profits from your bitcoin 🎉

[dg]

The OTC market.
Can you explain what’s going on with this please ?

[Larry-wf]

The subj that needs to be tackled is...if you are a small middle class worker/ owner of, lets say, 2 bitcoin. What about selling at the peak or close to the peak (if you have a plan and know enough about btc movements) to buy back during the bear market ? How solid of a strategy is that ?...vs. never selling for these people ? Many people have a lot of btc and can maybe do this with a bitcoin or two, but if your the middle class guy do you sell for fiat, pay your taxes, and buy back your bitcoin in a bear mkt and hopefully add another btc at no extra cost worth it ? or just buy and hold when you have only two btc, and add to that as best you can ?

[adoptedbybitcoin]

I agree with most. But its smart to keep an eye on the 4 year cycle and at least double your sats every cycle. Its there..

[leighholdren]

If you measure your value in sats, why wouldn't you switch at least a portion to tether or circle during their predictable rise against bitcoin, then switch back before the predictable fall?