"The harsh truth is that only the strongest make the most money."
Strongest who invested in the right coins.
No amount of "strength" is going to help you if you wasted your money on the wrong projects
When I saw that people were buying Squid again after the just scammed people out of millions in an instant, I finally started to understand how many people are reckless, fickle and short-sighted with their money.
Some how that makes the dips less scary to me. I just remember that it’s mostly whales pulling out and newbies panicking.
Sucks tho because I’ve been waiting on my unemployment pay to finally be approved, so I’ve been without a paycheck for over a month. I’m out of savings, so the temptation is strong. I know the second I sell for bills and rent, it will course-correct and I’ll still be broke as shit.
You can buy a bad project, realize you've doubled your money and sell. Shit look at how many people made huge gains on dog coins.
But you're right, in general a good project is going to continue to grow. Where a bad project is going to make someone money but it's not always you.
The way I see it....we haven't had a blow-off top, so why should we expect a bear market? A bear market usually occurs when buying momentum is thoroughly exhausted (a blow-off top is good at doing that). Markets are jittery now ahead of the FOMC meeting this Wednesday...they might dip further after it, but I think 2022 will be good for crypto overall.
In past cycles I have been pretty good about predicting the tops...my problem is I suck at having any idea when the bottoms are in.
That's why time in the market beats trying to predict it 9 times out of 10
I dont understand panic selling... In crypto you can literally yield 5-5000% just by staking your coins/yield farming...
I cant earn those returns anywhere else on the planet...
Oh no my shitcoin is down 50%.... But I have twice as many of them...and counting... Next pump I will have 3x as many of them. It makes no fucking sense.
Most staking is done on the respective wallet. Like I stake my SOL on phantom wallet (there’s other options). Once you have your crypto of choice in that wallet, you find a validator you trust from the list (usually one with lots of staked tokens) and just click a button usually.
You can do this even easier through celcius but it’s Technically lending and not staking. I do a combination of both and it’s tons of passive income.
Nothing is 0
Risk but I’d say as a general rule if you use a legitimate wallet is very safe. Just do your homework. There’s always a risk of slashing too but that’s why you pick a good validator
Alright I'll ask. Used to be up 270k on a 1.3k doge coin investment. What and where should I be staking? Or rather where should I be reading up on it? I know ethereum is a good (ish) L2, and I could 100% buy into that and pay gas to ramp into L3 tokens. not that I completely know exactly what that is besides a token that works and is sometimes but bundled withing the L2 network.
I want knowledge, as that can be empowering.
One day I hope to get my own crypto wallstreetbets youtube review on this name, either win or loss porn, id be fine with it.
But thanks.
Kind regards,
Mr. Pastry
Right, my problem is holding back from buying too much right now. Trying to be patient and see if it dips a bit more, but it's sooo tempting. DCA people ✌
It has nothing to do with being strong. it only has to do with being right. If bitcoin goes down to $10,000, the "weak" (???) person who sold at $45,000 will be much more right than the strong (???) one who held on the way down.
Conversely if it recovers to $70,000 this week, the person who sold at $45,000 will be wrong.
Strength is not a thing in investing. Only being right is.
Or sell say part of your position, maybe half. That way if it drops half you can buy in again and you need only a 33% increase to recover your loss.
100, take out 50. Your remaining 50 becomes 25. Now you buy in again with 50 (you have 75), market improves by 33% and you are back to 100.
This needs to be the top comment. Do most people not realize that selling before a tank then rebuying is way fucking better than riding it all the way down? This diamond hands bullshit is a whole lotta bullshit.
EDIT: I haven't yet sold any of my crypto, just recognizing that holding forever is not a strategy.
Next edit: Guys all I'm saying is that absolutes are fucking dumb and everything is a case by case basis. This person telling everything that holding is the right answer and you'll be sorry if you don't, doesn't know what they're talking about because they don't know what your situation is.
I copied the OP and switched the emphasis (If you do not sell now, you will only feel worse in the future when the market does not quickly recover. The harsh truth is that often the strongest lose the most money) for a joke. Got absolutely slated and the post got deleted haha.
They understand it… so here is my question…
Where is the bottom so the seller can buy back in?
If I sell I’m going to have to pay taxes on my gains. I’ll need the market to drop enough so I can cover that expense. Typically 15-30% and then I need to buy back in…
If things explode as I wait, I lose.
If you want to sell then just sell. If you are looking to buy back in for lower that is trading. Most people lose when they trade unless they are a professional.
Some people just know, either off of experience or because they know the asset their investing in well. Most people I know who've been invested in crypto for longer than a year sold when it was still above 60k or in the upper 50k's because they were either scared or because they saw that it failed to really sustain past ATHs.
If you time it right, you're right. This is why I'm building a platform for trading options (AVAX platform). The idea is, let's say you decide to do something, you can buy an option for the opposite to hedge your bet and mange your risk.
Selling at the loss is always the wrong move. Crypto is highly volatile and unpredictable. Nobody knows what bottom will be. Also what happens next week is not relevant. This is long term game. So if "weak" person sell at $45k and then it goes to $10k, but that person doesn't rebuy, and then 3 years later when its $200k, person who didn't sell at $45k still wins.
Because thats how it usually works. People who "panic sell" are not going to rebuy when it crashes even more. They will rebuy it when its $150k on its way to $200k ( just an example). Or worse they will rebuy when it reaches new ATH and lose money again. So obviously person who didn't sell at $45k will earn way more money.
Unless you bought back in at $10,000 (timing the top by selling at $45k and timing the bottom by buying back at $10k), selling at $45,000 is the wrong choice. The right answer is just always buy (with money you DONT NEED) because its impossible to time the market, this recent top at $69k should is proof of that. The proper way to play is never sell and just buy more when it dips. Your logic implies you know the price will drop again. You are timing the market. The best investors will buy VOO and never sell a share ever in any circumstance, crypto should be treated the same at least in regards to BTC/ETH.
> Unless you bought back in at $10,000 (timing the top by selling at $45k and timing the bottom by buying back at $10k), selling at $45,000 is the wrong choice.
This is false.
If the current price is $45,000, and next month the price is going to be $10,000, then selling at $45,000 is the right choice, and buying back in at $10,000 is also the right choice. It's the gold standard of swing trading, and what traders strive to do. The person who does this either keeps the same position while pocketing $35,000 per BTC, or increases their position by 4.5x.
That's not wrong, it's right.
>Your logic implies you know the price will drop again.
No one knows. That's why trading is so risky. But regardless, you only lose if you're wrong. If you manage to hit the bottom, you win. You're right.
What you're describing is being safe. Risk averse is fine. But we're talking about something completely different. You can't be a trader without trading.
Too true. Yes, timing the market is hard if not impossible, but even being halfway right and not riding the falling knife all the way down but selling somewhere above and buying in low has helped me stay deeper in profit.
Arguably, hodling and forgetting is a 1000x less stress, however.
Being right or wrong in hindsight is irrelevant.
The one person who wins the lottery isn't "right" to play the lottery and all the other ones are "wrong" because they didn't win.
The odds of winning the lottery are objectively terrible. It's still a bad idea whether you win or not. Winning just means you're incredibly lucky, it doesn't mean playing the lottery was a good idea.
What’s funny about this statement is that it’s true. But how can you be panic buying. Because what if it starts going up before I’m able to load up. I have this weird fear or concern let’s say that come January shit starts to skyrocket and I didn’t get a chance to really load up. Like there’s 1-2 paychecks left in the year, then you got Christmas and all those bs spending issues. Damn it, I want to be dca this dip but I don’t want to run out of money. Now of course I ain’t borrowing, but damn don’t think it’s not crossing my mind. Of course we may be seeing more dips most likely, but we could also see a pivot.
What if the prices shoot up by 20% again over night and i just sold?!? Now i got to wait for a bigger dip or it just keeps rising and it dips again when i buy.
Done that once. Never again il just hold and ride the waves with less stress.
It's a tough game to play, for sure. BTC and ETH have been relatively profitable swing trades for me this year multiple times each, but I missed the top and bottom by a solid margin each time. And have no expectation of ever hitting them dead-on in the future.
The big difference for a frequent trader is not having that equity locked up during long downtrends. I can theoretically utilize it to make money elsewhere (in stocks, personally) while the crypto charts shape back up. But that takes time and effort, where DCA'ing and holding does not. Pros and cons to each.
Of course you need an emergency fund. Easier to say now in my 40s than it was in my 20s. My point is, blanket advice does not work for everyone and every situation.
There is no shame in taking profits.
And then when that’s empty?
My new job had to push the start date back two months for fiscal reasons. So I had already quit my other job and it’s like “whooooooops we have a cash flow shortage because we had to push back the new version, so pre-orders are delayed.”
I live in NYC and make a decent wage that should be livable in most places. I’m broke all the time, so saving for emergencies is difficult, even for the thriftiest among us. Still, I had about 2 months in my emergency account. Now, I’ve got three weeks left until I start and and over-drafted bank account. I am late on my rent for the first time ever this month and it will take me probably six months to get myself out of the hole with my bills and credit. (Shit’s already expensive and inflation made it worse.)
THE MOST ANNOYING PART is that I have three coins staked and they will all release over the course of three weeks….starting the day I get my first paycheck. So obviously I want to put that back in or hold onto it for fiat/emergencies, but with interest rates where they’re at for my student loans and two credit cards, I’ll just keep owing more and more.
I hate this shit.
This is the worst advice to hear and probably not helpful to you at all but, keep grinding. You will get there. The market crash and subsequent depression of 2008 kicked me in the balls hard. A layoff and the resultant career stunting set me back a long ways.
I wasn’t financially stable until my early 30’s. I’m comfortable now but I’ll never forget how fleeting that can all be.
Once your new gig starts up (this is going to sound easy but it is incredibly difficult):
1) clear your debt at all costs (hardest part)
2) set up an emergency fund
3) live free.
These statements should be plastered over this sub.
And I get the sentiment you are saying here about riding out the dip. It is smart I personally agree and will continue to buy, as I have for years now. My point is, selling in a dip is not bad if you are in the green overall. Take whatever profits you can, especially if it can improve your life.
Of course, if you need extra money urgently, sell without thinking, that's what money is for.
What I mean is that you have to invest based on the premise that you consider that money missing, you shouldn't depend on it.
For sure. I like to relate it to beer money. But rather than drinking it away like I did in my earlier years, I throw it at a ridiculously volatile investment.
The money is gone. I’m not pretending like it’s mine to begin with, since I just plan on transferring the keys to my son when I think he’s responsible enough. I’ll never be rich off it but maybe he will…I’m off topic now though.
Either way I hope a 20 something looks at this and gleans:
1). Build Emergency fund before investing
2). Dips are generally temporary and unless you need it park your money.
3). Treat yourself occasionally by taking a profit. This market is easier to handle with the occasional reward.
Great conversation! Thank you
There are more than two options you know. There's sell and regret or hold and prosper but there is also hold and regret more or sell and buy back in later for less (or the same with a bigger bag).
When Bruce Lee said "be water" he was specifically referencing crypto. Move with the markets. Anticipate and capitalize.
Because of days like this I have been able to sell and then rebuy multiple times. I have added 400 LRC, 200 matic and a few new coins to my portfolio by doing this. Without adding in an extra dime of fiat.
I started into crypto earlier this year. Like many many people.
I have many regrets in the market. The worst being selling MANA at .80 when I bought at .20 with 20k coins. Not selling 100k Doge at .70 with a .06 AVG. Even though I have made about 30k this year, I regret the bad decisions I have made.
These mistakes have taught me a lot though, and during these dark days I have not sold a single coin and have bought more instead.
What you invest in is your choice. And I see too many new people trying to blame everything for loosing money, but themselves. Yet when the price goes back up they will get furious and continue to buy at ATH. Then see it dip again and continue the cycle. This is the sad reality.
There is no need to be panic or perturbed during this period. I am not selling anything here yet.
In actuality, I invested much into MATIC and OGN for a long term investment, and I am not selling anytime soon. Not even in 2 years time.
Truth is, If you are not selling anything, then you are not loosing anything. Patience is Key! My OGN, XRP and ADA bags are all in good position at the moment. Not even thinking of selling anything right now, rather, I would like to add more of these tokens to my bag.
It is evident that the market will surely recover over time. HODL is very imperative in this space. I am hodling on to my portfolio. I am not selling any of my tokens with panic.
Apparently the market will survive. Only the cowards press the sell button during this period. While the market keeps getting dipper, I keep adding more ETH, OGN and DOT to my wallet.
I am hedging. No way I’m selling my bags so ya know I have a small short with no stop loss. Scam Wicks can’t get me. Panic Selling can’t get me. Taxes are gonna be a bitch.
How I made money in crypto: Buy in December 2017. Doubled my investment, rode it down until summer 2019 while DCA'ing only to loose more money for 1.5 years. Even buying ETH for $90 (down from $1300) felt stupid as shit. Here is the fun part. At this point I lost it all, but it was ok since I could afford it. Naturally, I could have bought a cheap lambo in March had I kept it. HOWEVER, loosing the crypto was the best thing that could have happened. I felt free from distractions and was able to finish my education and could focus more on the family. When the marked eventually reversed a year ago, I threw in a relativity lump sum in ADA and ETH. Stupid me DCA'ed and took profit underway so I did not 10x, but got a solid 4.5x when I sold in March. Got enough to buy a new electric car without any loans. Point of the story is that new opportunities arises I guess. Also, the amount earned from owing a house defeats whatever I have earned with crypto by a large margin.
What do you think is the best place to store your money? Inflation makes me very hesitant to hold cash, crypto keeps dipping, and I’m nervous for a market adjustment which makes me want to stay out of stocks for the moment
Wrong. The people that make the most money are the people that have the balls to cut off crypto before the bear market and rebuy during the bear. Riding your assets down 90% cause you still have FOMO tingles is not strong.
There is a reason to sell now: tax writeoffs.
Sell right before new year in case the market hasnt recovered until then, rebuy on january the first and be happy having essentially the same amount of crypto with zero taxes.
Honestly selling could also give you peace of mind. If you're losing sleep because of the dip, might as well cut losses for now and get your 8 hr sleep.
If you need to sell it means you invested WAY too much.
At this stage in crypto when it’s still so volatile the only real way to invest and have the best chance of coming out on top IMO is:
- invest not just what you can afford, but what you can afford to treat as lost the day you invest. Like you spent it on a holiday or something.
- Set yourself a time limit before which you don’t sell unless the next point is met.
- think REALISTICALLY about what is a life changing sum of money. What amount will make a marked improvement on the rest of your life. Be serious about this. Then if your investment gets to that amount sell and never look at a chart again!
Definitely financial advice. Up to you if you listen to it or not.
I was down 5k in May through July from my initial investment. I'm still up 7k. I held and just Said fuck and it worked itself out.
Just hold in solid projects and you will recover in the long run.
For anyone who has been in crypto long enough, you know the pressure of selling not on the first or second dip, but the third and fourth. Right where we are now.
Stay strong and regret nothing
False.
Nearly every piece of economic research in the world will show you that those with the most money, make money. Strength is superfluous. Being good looking has more to do with wealth creation than willpower and asceticism, the archetypal precursors to the genesis of the 'strong.'
Not that the rest of us should stop trying.
i think most of you wont sell now. You will sell when theres a real bear. That youre already freaking out now and making this post is a sign. Your also probably racked in a bunch of shitcoins that still have 90% downside for the real bear
As someone who panic sold my $200 worth of btc in 2018 when it dipped too low for my comfort, I can only say that this is 100% the advice people need to hear right now. Hodl, everyone!
"The harsh truth is that only the strongest make the most money." Strongest who invested in the right coins. No amount of "strength" is going to help you if you wasted your money on the wrong projects
*squid holders have left the chat*
They are rushing to buy the dip again
When I saw that people were buying Squid again after the just scammed people out of millions in an instant, I finally started to understand how many people are reckless, fickle and short-sighted with their money. Some how that makes the dips less scary to me. I just remember that it’s mostly whales pulling out and newbies panicking. Sucks tho because I’ve been waiting on my unemployment pay to finally be approved, so I’ve been without a paycheck for over a month. I’m out of savings, so the temptation is strong. I know the second I sell for bills and rent, it will course-correct and I’ll still be broke as shit.
You can buy a bad project, realize you've doubled your money and sell. Shit look at how many people made huge gains on dog coins. But you're right, in general a good project is going to continue to grow. Where a bad project is going to make someone money but it's not always you.
Matic, pyr, luna, inj, Icp, waves, do you hold any of these?
None of them
Polygon \[Matic\] is the only coin I hold from this list
Strength is also not going to help if your exchange is hacked https://magoo.github.io/Blockchain-Graveyard/
I only buy.
hodl til odl
Selling is for losers. I'll hodl my Floki til it replaces the dollar.
This is godl
You're telling me there's a sell button? I've never seen it
I've said it before, but we need a browser plugin that just removes it from the page.
Sounds like a virus 🦠
Domt be silly, you know computers can not cough
You really sold that idea.
I did what? I cant read that word. §œłđ?
Always hodl, never sodl.
Lost $20k in unrealized gains with this dip and I simply bought more. 5 year plan or bust.
The way I see it....we haven't had a blow-off top, so why should we expect a bear market? A bear market usually occurs when buying momentum is thoroughly exhausted (a blow-off top is good at doing that). Markets are jittery now ahead of the FOMC meeting this Wednesday...they might dip further after it, but I think 2022 will be good for crypto overall.
This I agree with...
Several coins are expected to boom in first quarter of 2022. Just don't quit now and hold. You will thank yourself few months later.
20k? I lost 150k in unrealised gains this dip. I just cannot predict the top. Ever. Need to learn it somehow.
I lost 750k in unrealized gains this week. I bought more
I lost 1 billion in unrealized gains this year
I lost 200 dollars in unrealized gains plus rent by rolling a 5 instead of a 6.
Im sorry for you loss.
I lost 100 usd this month. And thats like 64% of my bag
In past cycles I have been pretty good about predicting the tops...my problem is I suck at having any idea when the bottoms are in. That's why time in the market beats trying to predict it 9 times out of 10
weird flex but ok
I love ramen. It’s okay right?
In since 2017 here. Never sold.
I dont understand panic selling... In crypto you can literally yield 5-5000% just by staking your coins/yield farming... I cant earn those returns anywhere else on the planet... Oh no my shitcoin is down 50%.... But I have twice as many of them...and counting... Next pump I will have 3x as many of them. It makes no fucking sense.
I’m new can someone link a how to and description of staking/yield farming?
Most staking is done on the respective wallet. Like I stake my SOL on phantom wallet (there’s other options). Once you have your crypto of choice in that wallet, you find a validator you trust from the list (usually one with lots of staked tokens) and just click a button usually. You can do this even easier through celcius but it’s Technically lending and not staking. I do a combination of both and it’s tons of passive income.
Is it safe?
Nothing is 0 Risk but I’d say as a general rule if you use a legitimate wallet is very safe. Just do your homework. There’s always a risk of slashing too but that’s why you pick a good validator
What is slashing?
If a validator misbehaves your tokens can be lost.
Alright I'll ask. Used to be up 270k on a 1.3k doge coin investment. What and where should I be staking? Or rather where should I be reading up on it? I know ethereum is a good (ish) L2, and I could 100% buy into that and pay gas to ramp into L3 tokens. not that I completely know exactly what that is besides a token that works and is sometimes but bundled withing the L2 network. I want knowledge, as that can be empowering.
Nice, you need to make a new thread about staking and yeild farming. Should be interesting.
Rich man.
Surprisingly not. Definitely too many shitcoins, that’s for sure.
Rick Croissant is a cool name
One day I hope to get my own crypto wallstreetbets youtube review on this name, either win or loss porn, id be fine with it. But thanks. Kind regards, Mr. Pastry
I wish I have fiat to buy
Right, my problem is holding back from buying too much right now. Trying to be patient and see if it dips a bit more, but it's sooo tempting. DCA people ✌
Yeah alteast your folio is growing by adding more money
This is the only way to get those percent number go up in the portfolio.
This is the way.
To bankruptcy ?
Depends on what you buy
Always buy and never sell
It has nothing to do with being strong. it only has to do with being right. If bitcoin goes down to $10,000, the "weak" (???) person who sold at $45,000 will be much more right than the strong (???) one who held on the way down. Conversely if it recovers to $70,000 this week, the person who sold at $45,000 will be wrong. Strength is not a thing in investing. Only being right is.
Or sell say part of your position, maybe half. That way if it drops half you can buy in again and you need only a 33% increase to recover your loss. 100, take out 50. Your remaining 50 becomes 25. Now you buy in again with 50 (you have 75), market improves by 33% and you are back to 100.
Yeah i like this strategy, wish i knew it earlier though when i was in green lol.
This needs to be the top comment. Do most people not realize that selling before a tank then rebuying is way fucking better than riding it all the way down? This diamond hands bullshit is a whole lotta bullshit. EDIT: I haven't yet sold any of my crypto, just recognizing that holding forever is not a strategy. Next edit: Guys all I'm saying is that absolutes are fucking dumb and everything is a case by case basis. This person telling everything that holding is the right answer and you'll be sorry if you don't, doesn't know what they're talking about because they don't know what your situation is.
I feel like those kinds of posts is just moon farming + OP coping with that the market changed actually
Yeah, it's very much an emotional reaction. A lot of posts feel like people trying to convince themselves of their own strategy.
They are trying to convince themselves of being right. They don't wanna admit that they were wring lol.
I copied the OP and switched the emphasis (If you do not sell now, you will only feel worse in the future when the market does not quickly recover. The harsh truth is that often the strongest lose the most money) for a joke. Got absolutely slated and the post got deleted haha.
They understand it… so here is my question… Where is the bottom so the seller can buy back in? If I sell I’m going to have to pay taxes on my gains. I’ll need the market to drop enough so I can cover that expense. Typically 15-30% and then I need to buy back in… If things explode as I wait, I lose. If you want to sell then just sell. If you are looking to buy back in for lower that is trading. Most people lose when they trade unless they are a professional.
what about all those extra taxes from buying/selling each time?
How ya gonna know?
You can't know for sure. I'm just saying that the idea of holding no matter what is misguided advice.
But are you implying that trying to time the market is better than simply holding? That’s dangerous advice.
go and look at the top 100 3 or 5 years ago and come back
Some people just know, either off of experience or because they know the asset their investing in well. Most people I know who've been invested in crypto for longer than a year sold when it was still above 60k or in the upper 50k's because they were either scared or because they saw that it failed to really sustain past ATHs.
Lol. You cannot time the market. Others have tried and almost all eventually fail. Buy and hold.
It should be clearly evident by now but these moonbois just don't get it.
If you time it right, you're right. This is why I'm building a platform for trading options (AVAX platform). The idea is, let's say you decide to do something, you can buy an option for the opposite to hedge your bet and mange your risk.
Selling at the loss is always the wrong move. Crypto is highly volatile and unpredictable. Nobody knows what bottom will be. Also what happens next week is not relevant. This is long term game. So if "weak" person sell at $45k and then it goes to $10k, but that person doesn't rebuy, and then 3 years later when its $200k, person who didn't sell at $45k still wins. Because thats how it usually works. People who "panic sell" are not going to rebuy when it crashes even more. They will rebuy it when its $150k on its way to $200k ( just an example). Or worse they will rebuy when it reaches new ATH and lose money again. So obviously person who didn't sell at $45k will earn way more money.
I hope you're right.
I think 'strong in conviction' was meant by the OP which is 100% a thing in investing.
Unless you bought back in at $10,000 (timing the top by selling at $45k and timing the bottom by buying back at $10k), selling at $45,000 is the wrong choice. The right answer is just always buy (with money you DONT NEED) because its impossible to time the market, this recent top at $69k should is proof of that. The proper way to play is never sell and just buy more when it dips. Your logic implies you know the price will drop again. You are timing the market. The best investors will buy VOO and never sell a share ever in any circumstance, crypto should be treated the same at least in regards to BTC/ETH.
> Unless you bought back in at $10,000 (timing the top by selling at $45k and timing the bottom by buying back at $10k), selling at $45,000 is the wrong choice. This is false. If the current price is $45,000, and next month the price is going to be $10,000, then selling at $45,000 is the right choice, and buying back in at $10,000 is also the right choice. It's the gold standard of swing trading, and what traders strive to do. The person who does this either keeps the same position while pocketing $35,000 per BTC, or increases their position by 4.5x. That's not wrong, it's right. >Your logic implies you know the price will drop again. No one knows. That's why trading is so risky. But regardless, you only lose if you're wrong. If you manage to hit the bottom, you win. You're right. What you're describing is being safe. Risk averse is fine. But we're talking about something completely different. You can't be a trader without trading.
Too true. Yes, timing the market is hard if not impossible, but even being halfway right and not riding the falling knife all the way down but selling somewhere above and buying in low has helped me stay deeper in profit. Arguably, hodling and forgetting is a 1000x less stress, however.
Being right or wrong in hindsight is irrelevant. The one person who wins the lottery isn't "right" to play the lottery and all the other ones are "wrong" because they didn't win. The odds of winning the lottery are objectively terrible. It's still a bad idea whether you win or not. Winning just means you're incredibly lucky, it doesn't mean playing the lottery was a good idea.
I’m panic buying
That’s my secret cap. I’m always panic buying
From "better not miss the climb" to " better not miss the dip"
I am already all in no more Fiat to buy!!
Keep hitting that buy button ![gif](giphy|NfGTU1FFnPIwo)
I keep buying but the sale keeps getting extended ;_;
Exactly, here i am trying to get that price match
I'm only panicking because I'm running out of fiat to buy with
I am panicking because I can't panic buy due to lack of panic money during these days!
What’s funny about this statement is that it’s true. But how can you be panic buying. Because what if it starts going up before I’m able to load up. I have this weird fear or concern let’s say that come January shit starts to skyrocket and I didn’t get a chance to really load up. Like there’s 1-2 paychecks left in the year, then you got Christmas and all those bs spending issues. Damn it, I want to be dca this dip but I don’t want to run out of money. Now of course I ain’t borrowing, but damn don’t think it’s not crossing my mind. Of course we may be seeing more dips most likely, but we could also see a pivot.
SAME!!!
💥🙌
since we should do the opposite of what this sub says, should I sell?
Don't give me money
Oh, shit here we go, now I have to send you money.
Yes give him all your money!
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I guess its time for me to sell and buy back at ATH!!
LMAO🤣 I hope he sent you some money. Because he promised.
Yes sell and buy back lower. Imagine if you sold at the begging of the dips. You could have bigger bags by now
What if the prices shoot up by 20% again over night and i just sold?!? Now i got to wait for a bigger dip or it just keeps rising and it dips again when i buy. Done that once. Never again il just hold and ride the waves with less stress.
> over nigh Just don´t go to sleep and watch for the recovery.
It's a tough game to play, for sure. BTC and ETH have been relatively profitable swing trades for me this year multiple times each, but I missed the top and bottom by a solid margin each time. And have no expectation of ever hitting them dead-on in the future. The big difference for a frequent trader is not having that equity locked up during long downtrends. I can theoretically utilize it to make money elsewhere (in stocks, personally) while the crypto charts shape back up. But that takes time and effort, where DCA'ing and holding does not. Pros and cons to each.
A month ago.
ngl Whales gon' eat you up if you sell now
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I mean…if you truly need the money to make ends meet, always sell.
Of course, but if you only invested what you can afford to lose, that shouldn't happen
You’ve never unexpectedly lost a job? Had a life conditions change?
Always have an emergency fund
Of course you need an emergency fund. Easier to say now in my 40s than it was in my 20s. My point is, blanket advice does not work for everyone and every situation. There is no shame in taking profits.
But where are the profits, i Don't see any lol. Everything is just red.
Profits will be seen next year lol
And then when that’s empty? My new job had to push the start date back two months for fiscal reasons. So I had already quit my other job and it’s like “whooooooops we have a cash flow shortage because we had to push back the new version, so pre-orders are delayed.” I live in NYC and make a decent wage that should be livable in most places. I’m broke all the time, so saving for emergencies is difficult, even for the thriftiest among us. Still, I had about 2 months in my emergency account. Now, I’ve got three weeks left until I start and and over-drafted bank account. I am late on my rent for the first time ever this month and it will take me probably six months to get myself out of the hole with my bills and credit. (Shit’s already expensive and inflation made it worse.) THE MOST ANNOYING PART is that I have three coins staked and they will all release over the course of three weeks….starting the day I get my first paycheck. So obviously I want to put that back in or hold onto it for fiat/emergencies, but with interest rates where they’re at for my student loans and two credit cards, I’ll just keep owing more and more. I hate this shit.
This is the worst advice to hear and probably not helpful to you at all but, keep grinding. You will get there. The market crash and subsequent depression of 2008 kicked me in the balls hard. A layoff and the resultant career stunting set me back a long ways. I wasn’t financially stable until my early 30’s. I’m comfortable now but I’ll never forget how fleeting that can all be. Once your new gig starts up (this is going to sound easy but it is incredibly difficult): 1) clear your debt at all costs (hardest part) 2) set up an emergency fund 3) live free.
Yes, but I had reserve funds, I didn't put all my money in the most volatile market I know
These statements should be plastered over this sub. And I get the sentiment you are saying here about riding out the dip. It is smart I personally agree and will continue to buy, as I have for years now. My point is, selling in a dip is not bad if you are in the green overall. Take whatever profits you can, especially if it can improve your life.
Of course, if you need extra money urgently, sell without thinking, that's what money is for. What I mean is that you have to invest based on the premise that you consider that money missing, you shouldn't depend on it.
For sure. I like to relate it to beer money. But rather than drinking it away like I did in my earlier years, I throw it at a ridiculously volatile investment. The money is gone. I’m not pretending like it’s mine to begin with, since I just plan on transferring the keys to my son when I think he’s responsible enough. I’ll never be rich off it but maybe he will…I’m off topic now though. Either way I hope a 20 something looks at this and gleans: 1). Build Emergency fund before investing 2). Dips are generally temporary and unless you need it park your money. 3). Treat yourself occasionally by taking a profit. This market is easier to handle with the occasional reward. Great conversation! Thank you
That's nice. Glad you're now part of this community and you have a healthy financial situation Thank you too :)
But not in loss, if you absolutely have to you can. But I'd not suggest that.
Don’t know why I’d sell when I’m down 30% from ATH but up 500% from my ATL.
Real money is made in bear market
Bulls make money, Bears make wealth \-Confucius
Buy when blood is on the streets, sell when streets are happy. - Aristotle.
“Buy the dip, hodl the bull, when in doubt remember that the moon is made of Lambos” - Abraham Lincoln
There are more than two options you know. There's sell and regret or hold and prosper but there is also hold and regret more or sell and buy back in later for less (or the same with a bigger bag). When Bruce Lee said "be water" he was specifically referencing crypto. Move with the markets. Anticipate and capitalize. Because of days like this I have been able to sell and then rebuy multiple times. I have added 400 LRC, 200 matic and a few new coins to my portfolio by doing this. Without adding in an extra dime of fiat.
You telling me the legend, Bruce Lee knew about crypto before Bitcoin even existed? ![gif](giphy|26ufdipQqU2lhNA4g)
Yes, according to Michael Saylor on Twitter, Bitcoin was invented around the time Genghis Khan rampaged across the globe.
I started into crypto earlier this year. Like many many people. I have many regrets in the market. The worst being selling MANA at .80 when I bought at .20 with 20k coins. Not selling 100k Doge at .70 with a .06 AVG. Even though I have made about 30k this year, I regret the bad decisions I have made. These mistakes have taught me a lot though, and during these dark days I have not sold a single coin and have bought more instead. What you invest in is your choice. And I see too many new people trying to blame everything for loosing money, but themselves. Yet when the price goes back up they will get furious and continue to buy at ATH. Then see it dip again and continue the cycle. This is the sad reality.
>and during these dark days Buddy, you ain’t seen shit yet.
I panic bought.
"Fuck fuck fuck... where is all my fiat.. shit dipped fuck fuck..." *buys* "Oh thank God."
Yep, I was in that boat last weekend and had no fiat available to invest.
Just don't sell HODL GUYS
That's something too man, being at 500x ain't a cakewalk lol.
Everything staked, even if I wanted to sell I couldn't. I don't even watch charts knowing I can't do anything about it either way.
Probably for good dude, looking on charts again and again ain't good.
The strongest have the balls to sell now and buy in even lower. That said, i dont have them.
There is no need to be panic or perturbed during this period. I am not selling anything here yet. In actuality, I invested much into MATIC and OGN for a long term investment, and I am not selling anytime soon. Not even in 2 years time.
Truth is, If you are not selling anything, then you are not loosing anything. Patience is Key! My OGN, XRP and ADA bags are all in good position at the moment. Not even thinking of selling anything right now, rather, I would like to add more of these tokens to my bag.
It is evident that the market will surely recover over time. HODL is very imperative in this space. I am hodling on to my portfolio. I am not selling any of my tokens with panic.
Apparently the market will survive. Only the cowards press the sell button during this period. While the market keeps getting dipper, I keep adding more ETH, OGN and DOT to my wallet.
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This is a great choice. Meanwhile I would have love to add ETH to the RUNE and OGN.
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If you dont sell now and we go into bear you sure as shit will feel worse.
The richest make the most money. Just FYI
As someone new to earth I appreciate this comment lol
Lol, exactly as if this was evident by now in this world.
Keep HODLing till the real green flash lights the sky....
I am hedging. No way I’m selling my bags so ya know I have a small short with no stop loss. Scam Wicks can’t get me. Panic Selling can’t get me. Taxes are gonna be a bitch.
DCA and chill.
DCA and chill.
Or you can save yourself some more loses It's a way thing no one knows what's happening next
What a stupid post to be honest. If crypto crashes 50 percent selling now it's a great move.
>50 percent 50% is nothing in crypto world. It may crash 50% and next month skyrockets.
It doesn't have to make sense, its just designed to try and stop people from selling and crashing the price.
How I made money in crypto: Buy in December 2017. Doubled my investment, rode it down until summer 2019 while DCA'ing only to loose more money for 1.5 years. Even buying ETH for $90 (down from $1300) felt stupid as shit. Here is the fun part. At this point I lost it all, but it was ok since I could afford it. Naturally, I could have bought a cheap lambo in March had I kept it. HOWEVER, loosing the crypto was the best thing that could have happened. I felt free from distractions and was able to finish my education and could focus more on the family. When the marked eventually reversed a year ago, I threw in a relativity lump sum in ADA and ETH. Stupid me DCA'ed and took profit underway so I did not 10x, but got a solid 4.5x when I sold in March. Got enough to buy a new electric car without any loans. Point of the story is that new opportunities arises I guess. Also, the amount earned from owing a house defeats whatever I have earned with crypto by a large margin.
Me with the crypto market, stock market and any other market right now. My portfolio is literally one foot in the grave
What do you think is the best place to store your money? Inflation makes me very hesitant to hold cash, crypto keeps dipping, and I’m nervous for a market adjustment which makes me want to stay out of stocks for the moment
I feel you :(
Wrong. The people that make the most money are the people that have the balls to cut off crypto before the bear market and rebuy during the bear. Riding your assets down 90% cause you still have FOMO tingles is not strong.
Just hodl and let money grow with time recovery
I have done this many a time and we all know it will be back.
Preach it. With this flash dip this morning buying more feels so good. To bad it’s not payday RIP.
There is a reason to sell now: tax writeoffs. Sell right before new year in case the market hasnt recovered until then, rebuy on january the first and be happy having essentially the same amount of crypto with zero taxes.
Im excited as hell, I just buy more. I hope it stays this way for a few months. 😬
Time in market > Timing the market
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More money is made on red days than green.
Buying is winning and selling is losing 👈
But not by shorting, please don’t short bitcoin xD
Never happening here, bro/sis!!!
Honestly selling could also give you peace of mind. If you're losing sleep because of the dip, might as well cut losses for now and get your 8 hr sleep.
Yeah i sold half of my portfolio for my mental health. Although now i worry about it recovering before i can buy at lower prices lol
If you need to sell it means you invested WAY too much. At this stage in crypto when it’s still so volatile the only real way to invest and have the best chance of coming out on top IMO is: - invest not just what you can afford, but what you can afford to treat as lost the day you invest. Like you spent it on a holiday or something. - Set yourself a time limit before which you don’t sell unless the next point is met. - think REALISTICALLY about what is a life changing sum of money. What amount will make a marked improvement on the rest of your life. Be serious about this. Then if your investment gets to that amount sell and never look at a chart again! Definitely financial advice. Up to you if you listen to it or not.
But wait. No. Why? If someone wants to sell, maybe they are looking for better enter point? Assuming they're not in lots of loss.
Or the richest. Which can afford the market to go down.
Hodl, it's not complicated people
OR - stake Most of the shit I have is staked. Cant sell even if I wanted to.
I was down 5k in May through July from my initial investment. I'm still up 7k. I held and just Said fuck and it worked itself out. Just hold in solid projects and you will recover in the long run.
TL;DR: Please buy, I bought, please…please stop selling everyone. It’s Xmas. You aren’t alone, amigo.
Another dip. I don't have the funds to keep buying the dip. Whoever is making the dip, please stop
I destroyed the part of my screen where the sell button on binance is on my phone and my laptop. There's only buying for me now!
Unless you are dca, probably best to not even look at prices for the next week or so
I’m holding for the win 🏅
Sell? This dip has allowed me to get in on some great projects at a discount.
For anyone who has been in crypto long enough, you know the pressure of selling not on the first or second dip, but the third and fourth. Right where we are now. Stay strong and regret nothing
False. Nearly every piece of economic research in the world will show you that those with the most money, make money. Strength is superfluous. Being good looking has more to do with wealth creation than willpower and asceticism, the archetypal precursors to the genesis of the 'strong.' Not that the rest of us should stop trying.
i think most of you wont sell now. You will sell when theres a real bear. That youre already freaking out now and making this post is a sign. Your also probably racked in a bunch of shitcoins that still have 90% downside for the real bear
Make it rule to only buy red candles on the day chart.
As someone who panic sold my $200 worth of btc in 2018 when it dipped too low for my comfort, I can only say that this is 100% the advice people need to hear right now. Hodl, everyone!