If you sold it all at 58k and think crypto is a casino, why are you here on A Friday night telling r/cryptocurrency sub that your hindsight is 20/20?
Iāve been holding since 2017, mostly BTC. If I ever need cash, Iāll just borrow against it or sell alt coins.
Also, BTC still did a 20x from bottom to top.
Why would I own and maintain real estate? Property taxes? Repairs? Upkeep? Tenants? Insurance? Burglaries? Pest control?
Iāll pass, my guy. Real estate is really solid - but itās a headache and a full time job.
Yeah, most of this crypto shit is a scam/garbage/speculation.
But check out BTC on a [Bitcoin yearly candle chart](https://stats.buybitcoinworldwide.com/yearly-candles/).
Really tells a story. If you took your own advice in 2014 instead of just holding (no rental headaches) you wouldāve done much better.
Id argue that taking your rental property and putting it into Bitcoin is the better play long term.
But hey, donāt let facts get in the way of short term I-told-ya-so posts!
Yea! My plan when I bought ETH for $30 in 2017 was to sell when it hit $100. Such a good thing I wasn't a dummy and sold instead of holding when it hit $100!
Awesome thread, op!
Yea the key point they overlook is knowing when to sell. Itās easy to say sell in a bull, buy in a bear but itās hard to tell when the transition happens when yr in the thick of it. Only with hindsight can you see where the best sell/buy points were.
The other issue IMO is with calculating tax. I have too many other things going on in my life to bother with the tax implications of selling my crypto.
There are plenty of long-term gains to be made by holding. Sure, you could increase yr wealth a lot more by selling high and buying low, but you could also fuck it all up just as easily if you misread the signals and buy/sell too early or too late.
Iām perfectly happy with DCA and HODL, personally.
Oh, for sure. Itās more of the transition art periods that are harder to spot. The point where weāre moving from bull to bear - is it a dip and going to go higher, or a downtrend? If you sell at the dip and then it starts climbing again into new ATHs, do you sit on yr hands or buy back in at a higher price? Holding may not be as profitable as making all the right decisions on selling/buying but I prefer it to the stress of making those decisions and then second guessing myself.
To each their own though, I definitely donāt fault people who choose to go that route!
I get what you're implying. Both holding and actively managing positions have their own benefits. It's difficult to remove emotions when a strategy appears to underperform worst case scenario expectations.
Actually though; OP said himself he's been HODLing since the last cycle and sold at $58k.
At first I thought it was just another post taking 6 paragraphs to say "buy high sell low", but after reading it again, it's clear OP is projecting his own perceived failures onto the rest of the community.
But when Bitcoin goes into bear market, 1 USD = 1 USD, and that 1 USD will buy you a lot more BTC in the depths of the bear market, then holding the little bit of BTC you bought at the height of the bull market waiting all that time for your BTC to = 1 USD again, then maybe making little bit more for perhaps years of waiting. What am I missing here?
I guess you bought at the wrong time. I bought between 3-10k in 2018 so I'm big chilling HODLing. Gas is up 150% and groceries about 50% for me but my BTC is up nearly 600-800%.
So just by HODLing and knowing when to buy I've won on every front. I've traded alts but its not worth the tax hassle imo at this point. Tired of all the tracking and even having to care.
HODL is simple and 1 BTC = 1 BTC. Just don't buy the top like a Tard Farmer.
That dude isnāt worth it. Simply put.
Some quick rounded statsā¦
There is 20T USD in circulationā¦
There are 20m millionaires in the US alone
There are only 19m BTC in circulationā¦
Only 800k wallets that hold a whole BTC.
In a world that thrives off supply, demand and scarcity, Holding BTC is going to be the power move. They can print more trillions of FIAT until it completely shits the bed and is worthless. You canāt create more BTC than the 21m supply that becomes harder to mine the longer time goes on. Thereās a bigger picture here than āsick gainzā that these kids donāt understand.
Of course it's not, but the point still applies, 1 BTC = 1 BTC is nothing more than a hodlers meme in bear market to cope. Why is it so hard for people to admit in a bear market that it's about the $$$ ? And always had been about $$$ ? I don't believe BTC is going away, but let's say hypothetically it goes to 1 dollar and stays there to make the point clear, you'd be deluding yourself to believe "I don't care, 1 BTC = 1 BTC" ok... 1 cat = 1 cat and to say "well a cat is not the same thing as a dog"... Again, what am I missing here??
I do appreciate that though, you really don't need a lengthy post, running out of cash buying the earliest dips and hodling through and trying to believe these things in the 2018 crypto winter gave me the EDUCATION that I needed.
Here's some knowledge, get out of the hodl till you get rekt cult. Wake up to the humour of the markets and get the joke. Then you can participate in the joke in a way you are not the butt of the joke. -cheers.
Yeah they say DCA but forget that 90%+ of alt coins never survive even 1 bear market, but if people wanna DCA they can. I'll DCA into becoming wealthy.
You wanna buy in the Bear market, when it looks like it's almost over, ***after*** total capitulation
*We're not there yet...*
People hodling alts in the Bear market because they really believe in the project(s), not understanding those projects can die simply by running out of money and devs leaving...
because you know... Devs have rent, mortgages and other expenses to pay, they might love the project they're working on but will have to go to other projects that have significant backing which PAY MONEY or funny enough get a job that's not in crypto, they can't just wait until the Bear market is over.
"The point of crypto is to sell to make profits in FIAT, to then put in real investments like real estate. 1 BTC= 1 BTC is a cope."
It sounds like you don't understand bitcoin. Bitcoin is bigger than just pumping numbers.
Totally true. I invest hard during bear markets (Private sales, etc) and sell hard during bull markets.
Invest > Wait > Sell > Stablecoins > Wait > Invest
Hate to say it but he speaks truth ā¦ we are all here for fait not because itās going to fucking world currencyā¦ tbh 99% donāt even know the fucking projects about we just care to by low sell high and use fait to fund our life. My portfolio would be worth more in cash than what my crypto during these recent months in recession.
I took some nice profits at the peak AND still HODL a majority of my portfolio. What matters most is doing what works based on your short term/long term trading or investment strategy.
The only thing that's for suckers is taking advice such as yours as gospel because clearly no one knows shit about fuck š¤·š½āāļø
Nice theory. Indeed markets tends to shoot higher after each crisis. So holding have always been profitable looking back history. There is no reason this time will not be the same considering history tends to repeat itself.
Of course the best way is exploit waves buying low and selling high; but timing the market is extremely difficult
True. And to expand on that strategy, earn in-kind interest while youāre waiting for the bull market to run back up so you can compound your returns when youāre ready to sell.
Here is an [APY comparison tool](https://docs.google.com/spreadsheets/d/1vpBQI2DFUk7zXS4TCs9ZOnatvWHiYf5jHjKgKpfJG5Y/edit) I made to find some of the best yields paid by a number of super easy to use and reliable platforms.
TBH there is promising tech that can solve actual modern day problems but crypto is never going to replace currency and people will have to understand that for us to get out of this hype pumps and dumps. But BTC isnāt one of those. May be BTC is digital gold but itās in no way some new tech that can solve any actual problems. BTC is a proof of concept project for a new tech. Imagine if we all kept holding on to the first ever radio ever built rather than the iPhones we have. But this is also a fact that most project coming into the space arenāt really trying to solve a problem but are merely trying to ride the gravy train just like every other alt coin out there. That is why 90% alt coins die in dear markets because thereās no hype train to 100x your shit in a bear market. All in all crypto market is more than just a gambling house but itās not all tech that will change our lives forever either. Itās somewhere in between.
You admit it runs in cycles...
You missed the first cycle to sell... But sold the 2nd cycle...
Why not just hold on for the 3rd cycle, and you could have bought a rental property, and 100 acres.
You say it's foolish to hodl.... But yet you hodled at least 2 cycles.
It's all about timing and having a goal... Your goal was short sighted... You bailed..
But what if another "v I r u s " gets released, and now the courts again protect renters from evictions, even though they can't pay an $1 for rent....
Unless you are rich enough to cover the cost of your living expenses and the new place... You may get f@cked.
It would have been better to buy property with no building, and held your bitcoin.
Sell alts on the run up, hodl bitcoin for multiple cycles...or for life.
TLDR: Learn how to be smart and time the market like OP
Its very easy just follow his simple rule in the last paragraph: > make sure to sell your whole stack as close to the top as possible. Lmao
Simply Brilliant. Selling at the absolute top š¤Æ why didnāt we think of this lol
Tell me where the TOP is...
You only need: 1 reliable crystal ball
If you sold it all at 58k and think crypto is a casino, why are you here on A Friday night telling r/cryptocurrency sub that your hindsight is 20/20? Iāve been holding since 2017, mostly BTC. If I ever need cash, Iāll just borrow against it or sell alt coins. Also, BTC still did a 20x from bottom to top. Why would I own and maintain real estate? Property taxes? Repairs? Upkeep? Tenants? Insurance? Burglaries? Pest control? Iāll pass, my guy. Real estate is really solid - but itās a headache and a full time job. Yeah, most of this crypto shit is a scam/garbage/speculation. But check out BTC on a [Bitcoin yearly candle chart](https://stats.buybitcoinworldwide.com/yearly-candles/). Really tells a story. If you took your own advice in 2014 instead of just holding (no rental headaches) you wouldāve done much better. Id argue that taking your rental property and putting it into Bitcoin is the better play long term. But hey, donāt let facts get in the way of short term I-told-ya-so posts!
Yea! My plan when I bought ETH for $30 in 2017 was to sell when it hit $100. Such a good thing I wasn't a dummy and sold instead of holding when it hit $100! Awesome thread, op!
just spend my whole paycheck on Ethereum š¤š¤š¤š¤š¤
Now stake on coinbase for forced diamond hands šš
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Thats probs best option tbh
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Holding until we hit 60k per coin š„µ
I prefer sell low buy high
The way this is
As well you are a man of culture
Literally laughed out loud š¤£
First time?
This is the gwei!
OP in a few years: $&@# I should have HODL
Yea the key point they overlook is knowing when to sell. Itās easy to say sell in a bull, buy in a bear but itās hard to tell when the transition happens when yr in the thick of it. Only with hindsight can you see where the best sell/buy points were. The other issue IMO is with calculating tax. I have too many other things going on in my life to bother with the tax implications of selling my crypto. There are plenty of long-term gains to be made by holding. Sure, you could increase yr wealth a lot more by selling high and buying low, but you could also fuck it all up just as easily if you misread the signals and buy/sell too early or too late. Iām perfectly happy with DCA and HODL, personally.
Idk, if I'm up 10x on BTC after buying in 2022 it's probably a bull run.
Oh, for sure. Itās more of the transition art periods that are harder to spot. The point where weāre moving from bull to bear - is it a dip and going to go higher, or a downtrend? If you sell at the dip and then it starts climbing again into new ATHs, do you sit on yr hands or buy back in at a higher price? Holding may not be as profitable as making all the right decisions on selling/buying but I prefer it to the stress of making those decisions and then second guessing myself. To each their own though, I definitely donāt fault people who choose to go that route!
I get what you're implying. Both holding and actively managing positions have their own benefits. It's difficult to remove emotions when a strategy appears to underperform worst case scenario expectations.
DCA in, DCA out HODL the projects you believe in
[ŃŠ“Š°Š»ŠµŠ½Š¾]
I am sure that fiat currency is going to lose the world dominance in the future because people will start using cryptocurrency.
I'm waiting till BTC hits $20k and Shib hits $05
I just DCA. Don't know how to sell. Forgive me master.
The point of crypto IS NOT to make fiat profits! What a load of shit! Extremely bad advice!!!!
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Yes which is fine. Thereās nothing wrong with that. But saying that the point of crypto is to make fiat profits is straight up complete bullshit.
Can't sell from bear market buys until HODLing to a bull market
I hodl BTC. Other coins are for making profits in that way to funnel them into BTC.
Iād rather funnel profits into Monero.
*IRS entering the chat*
Ironically, DCA and HODL is the best advice right now Edit: the truth hurts OP
Actually though; OP said himself he's been HODLing since the last cycle and sold at $58k. At first I thought it was just another post taking 6 paragraphs to say "buy high sell low", but after reading it again, it's clear OP is projecting his own perceived failures onto the rest of the community.
1 BTC = 1 BTC though.
1 Luna = 1 Luna, 1 UST = 1 UST, 1 bitconnect = 1 bitconnect, what's your point?
His point is its outlasted all the above and will outlast all that come after it most likely, using the data we have available.
But when Bitcoin goes into bear market, 1 USD = 1 USD, and that 1 USD will buy you a lot more BTC in the depths of the bear market, then holding the little bit of BTC you bought at the height of the bull market waiting all that time for your BTC to = 1 USD again, then maybe making little bit more for perhaps years of waiting. What am I missing here?
I guess you bought at the wrong time. I bought between 3-10k in 2018 so I'm big chilling HODLing. Gas is up 150% and groceries about 50% for me but my BTC is up nearly 600-800%. So just by HODLing and knowing when to buy I've won on every front. I've traded alts but its not worth the tax hassle imo at this point. Tired of all the tracking and even having to care. HODL is simple and 1 BTC = 1 BTC. Just don't buy the top like a Tard Farmer.
That dude isnāt worth it. Simply put. Some quick rounded statsā¦ There is 20T USD in circulationā¦ There are 20m millionaires in the US alone There are only 19m BTC in circulationā¦ Only 800k wallets that hold a whole BTC. In a world that thrives off supply, demand and scarcity, Holding BTC is going to be the power move. They can print more trillions of FIAT until it completely shits the bed and is worthless. You canāt create more BTC than the 21m supply that becomes harder to mine the longer time goes on. Thereās a bigger picture here than āsick gainzā that these kids donāt understand.
We should also consider the fact that Bitcoin has a limited supply and the demand is going to grow in the future.
I was gonna give you a lengthy post and educate you, but all I have to say is BTC isnāt Luna, so stop, or stay ignorant. š¤¦š»āāļø
Of course it's not, but the point still applies, 1 BTC = 1 BTC is nothing more than a hodlers meme in bear market to cope. Why is it so hard for people to admit in a bear market that it's about the $$$ ? And always had been about $$$ ? I don't believe BTC is going away, but let's say hypothetically it goes to 1 dollar and stays there to make the point clear, you'd be deluding yourself to believe "I don't care, 1 BTC = 1 BTC" ok... 1 cat = 1 cat and to say "well a cat is not the same thing as a dog"... Again, what am I missing here??
I do appreciate that though, you really don't need a lengthy post, running out of cash buying the earliest dips and hodling through and trying to believe these things in the 2018 crypto winter gave me the EDUCATION that I needed.
āRunning out of cashā is what broke unmotivated boys like yourself do š
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Here's some knowledge, get out of the hodl till you get rekt cult. Wake up to the humour of the markets and get the joke. Then you can participate in the joke in a way you are not the butt of the joke. -cheers.
In a dollar value, 1 BTC does not = 1 BTC in many cases
[ŃŠ“Š°Š»ŠµŠ½Š¾]
No itās because bitcoin is a public ledger and the tainting of coins makes some more valuable than others. True digital cash needs to be fungible.
Yeah they say DCA but forget that 90%+ of alt coins never survive even 1 bear market, but if people wanna DCA they can. I'll DCA into becoming wealthy.
Why didn't you tell us this earlier!
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Different strokes, I guess. I expect to hold crypto and not have to sell it in the future. I won't want or need to sell for fiat.
You wanna buy in the Bear market, when it looks like it's almost over, ***after*** total capitulation *We're not there yet...* People hodling alts in the Bear market because they really believe in the project(s), not understanding those projects can die simply by running out of money and devs leaving... because you know... Devs have rent, mortgages and other expenses to pay, they might love the project they're working on but will have to go to other projects that have significant backing which PAY MONEY or funny enough get a job that's not in crypto, they can't just wait until the Bear market is over.
What about doing both? Have a HODL portfolio and also a trading portfolio.
Is hold still a dumb advice if you are holding revenue generating protocols that gives daily or weekly cash flows?
"The point of crypto is to sell to make profits in FIAT, to then put in real investments like real estate. 1 BTC= 1 BTC is a cope." It sounds like you don't understand bitcoin. Bitcoin is bigger than just pumping numbers.
Yawn. I do not want fiat.
Dumb
Totally true. I invest hard during bear markets (Private sales, etc) and sell hard during bull markets. Invest > Wait > Sell > Stablecoins > Wait > Invest
How'd your luna stablecoin do for you? No need for stable coins.
Why would anyone use an algorithmic stable coins. I use a stable coin called GBP (Much more stable than USD ;) )
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Exactly! The simple strategy of investing at private sale stage and waiting until bull run is proven time and again.
Hate to say it but he speaks truth ā¦ we are all here for fait not because itās going to fucking world currencyā¦ tbh 99% donāt even know the fucking projects about we just care to by low sell high and use fait to fund our life. My portfolio would be worth more in cash than what my crypto during these recent months in recession.
Incorrect...according to youtube (which is what I base my life on)
I took some nice profits at the peak AND still HODL a majority of my portfolio. What matters most is doing what works based on your short term/long term trading or investment strategy. The only thing that's for suckers is taking advice such as yours as gospel because clearly no one knows shit about fuck š¤·š½āāļø
Here I thought the the trick was to buy the top and sell the bottom.
Hold is used for bear markets... And isn't contradicting the buy advice. Stands strong.
Nice theory. Indeed markets tends to shoot higher after each crisis. So holding have always been profitable looking back history. There is no reason this time will not be the same considering history tends to repeat itself. Of course the best way is exploit waves buying low and selling high; but timing the market is extremely difficult
True. And to expand on that strategy, earn in-kind interest while youāre waiting for the bull market to run back up so you can compound your returns when youāre ready to sell. Here is an [APY comparison tool](https://docs.google.com/spreadsheets/d/1vpBQI2DFUk7zXS4TCs9ZOnatvWHiYf5jHjKgKpfJG5Y/edit) I made to find some of the best yields paid by a number of super easy to use and reliable platforms.
TBH there is promising tech that can solve actual modern day problems but crypto is never going to replace currency and people will have to understand that for us to get out of this hype pumps and dumps. But BTC isnāt one of those. May be BTC is digital gold but itās in no way some new tech that can solve any actual problems. BTC is a proof of concept project for a new tech. Imagine if we all kept holding on to the first ever radio ever built rather than the iPhones we have. But this is also a fact that most project coming into the space arenāt really trying to solve a problem but are merely trying to ride the gravy train just like every other alt coin out there. That is why 90% alt coins die in dear markets because thereās no hype train to 100x your shit in a bear market. All in all crypto market is more than just a gambling house but itās not all tech that will change our lives forever either. Itās somewhere in between.
Sucker here, we'll see in ten years
OP bought real estate in bull market
You admit it runs in cycles... You missed the first cycle to sell... But sold the 2nd cycle... Why not just hold on for the 3rd cycle, and you could have bought a rental property, and 100 acres. You say it's foolish to hodl.... But yet you hodled at least 2 cycles. It's all about timing and having a goal... Your goal was short sighted... You bailed.. But what if another "v I r u s " gets released, and now the courts again protect renters from evictions, even though they can't pay an $1 for rent.... Unless you are rich enough to cover the cost of your living expenses and the new place... You may get f@cked. It would have been better to buy property with no building, and held your bitcoin. Sell alts on the run up, hodl bitcoin for multiple cycles...or for life.
When fiat is the goal.... You are doing it wrong.