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Okay your long term hodl/short term thing I talked about many pages back. But for the bolded, so people should let their portfolios just drop by 40%+ instead of tethering up before a bear market? That's how you don't make money.
Are you able to predict when the bear market begins and ends? I am not so experience with crypto but when it comes to the stock market; more money is lost sitting on the sidelines expecting a bear market than is lost in the actual bear market. Can you please explain to me how this plays out differently when it comes to crypto?
Are you able to predict when the bear market begins and ends? I am not so experience with crypto but when it comes to the stock market; more money is lost sitting on the sidelines expecting a bear market than is lost in the actual bear market. Can you please explain to me how this plays out differently when it comes to crypto?
Crypto cycles are strongly correlated with bitcoin halving events. Usually about 15-18 months after a BTC halving the token reaches unprecedented ATHs before tanking in price leading up to the next halving event. Here's an article that can help you understand more: https://www.investopedia.com/bitcoin-halving-4843769
Lol thanks but dont get me wrong the end game is clear to me. After a lot of people make money off memes and crypto as a whole rises the elites will crash it with no survivors. This will upset people who will demand more crypto regulation as the great reset is ushered in. More widespread UBI will also be introduced. Then thpse fundamental coins will rise up again as the new way of doing things requires them.
This is why I can't get behind meme coins, I'm in this to change the world. Making money is a byproduct.
This is why I can't get behind meme coins, I'm in this to change the world. Making money is a byproduct.
It is nice to be able to do both. I view crytpocurrency as a way to detach currency from government control and ultimately end national governments. That probably wont happen so the number one priority is me making money.
It is nice to be able to do both. I view crytpocurrency as a way to detach currency from government control and ultimately end national governments. That probably wont happen so the number one priority is me making money.
I understand.
But for me it is the same reason I never get involved in MLMs, even if I know I'm early. I just don't like knowing that the only way I win is if others are dumped on.
But for me it is the same reason I never get involved in MLMs, even if I know I'm early. I just don't like knowing that the only way I win is if others are dumped on.
So you're basically saying don't ever sell and live off staking, if you even have enough coins to do this?
Look people want financial independency and if that involves selling large percentages of their portfolio then so be it. Happens in markets everyday across the world but especially here in America. People did this with Shib in May and are living large, and Shib has doubled in price since then (just one example I can use here). Point is that it's all relative.
It is nice to be able to do both. I view crytpocurrency as a way to detach currency from government control and ultimately end national governments. That probably wont happen so the number one priority is me making money.
It can happen with Bitcoin but we need to build some privacy methods into it or it won't work. Pseudonymous is not private enough for private wallets. Public wallets should be open though.
effectively your cost basis is the same on your early purchases . when you add you really are adding additional at a higher cost .
in fact with stocks you can choose the cost basis you want to use if you sell ,.
if you choose average cost then yeah your cost basis will be higher but on more shares and the current buy will have a lower average then you actually paid
Crypto tax reporting software can't do average cost yet.
I suppose this will help clarify things:
I put $10k into VET once in 2020 and have not bought anymore. Since I am not continuously buying my cost basis is still $0.01
Okay your long term hodl/short term thing I talked about many pages back. But for the bolded, so people should let their portfolios just drop by 40%+ instead of tethering up before a bear market? That's how you don't make money.
Yes, just like they HODL stocks or real estate.
Let's say you didn't take my approach and you DCAed in with average cost basis of $0.05 cumulative for a $10k VET investment. If you sell all and the bear bottom is $0.10 you are still losing potential future earnings unnecessarily because you paid cap gains and now your cost basis is 2x higher.
And what happens if _____ project gets a major endorsement and the price floor unexpectedly moves to $0.50 even in a bear market? That's the upside risk you run with utility projects which aren't dependent upon Bitcoin runoff funds for their value.
Ask yourself do you believe in this industry or do you believe in F500s. I work in F500s and my POV is I put my money in hyper-technologization over dysfunctional F500s any day.
I sold my company stock for Bitcoin in 2019 and guess even at $30k BTC what's worth more
With the Fed tightening - the stock market needs to correct by 50% to achieve fair value. So why are people panicking about a 50% correction in a Crypto Bear Market? Double standards....
I've been weekly trading Shib making about $1-2k in just 2 days with just $700-1500. It's too easy to buy on the dip watching the candles then wait for some momentum to begin. The other day, had I held out another day my profit would be $3.5k. This is too easy but I know one day any day trader will get over leveraged so I'm doing this each month just to pay for the mortgage.
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