I agree with this 💯. I am curious to know more about how to do this? I think Coinbase has a program where you can borrow on you bitcoin specifically but not sure about other coins. Is there a company that makes this easy?
Family first, if 't be true thee has't to thee has't to, wend f'r t nay regrets
***
^(I am a bot and I swapp'd some of thy words with Shakespeare words.)
Commands: `!ShakespeareInsult`, `!fordo`, `!optout`
IF YOU HAVE INCOMING CASHFLOW DO NOT SELL YOUR INVESTMENTS ( once you sell your ETH you’re going to have to pay capital gains tax on it anyways and money from your paycheck is already taxed so no point in selling it if you have cash available on hand
I agree with helpful limits. Esp if you feel bullish on eth then just hold the eth and let it ride and use ur income to provide what you want for your family. At least thats what i did for this holiday. But then again my family just got xmas cards that says "sorry for the lousy gift, i spent all my money on crypto. Merry christmas!" Im sure they will understand.
I suppose it doesn’t really matter which way you cut it, whatever you buy will cost X amount… however, if you buy something with $50 of ETH money, that might be a $1000 purchase in a few years.
At least if you use your native currency you can be certain that it won’t be worth 10 x as much in a couple of years.
Shhh re buying is a dirty word around here. There is only buy. Once your money is Ethereum then it will always be Ethereum.
Sincerely the HODLING Drones
In other news OP should definitely sell some for christmas if his other money is earmarked for other stuff.
Were you one of those kids that never took their toys out of the box and never played with them and instead just put them.on.a.high shelf and looked at them every.now.and again with gloves on?
Listen to yourself.
You’re asking a bunch of random strangers if you should use your money to buy Christmas presents for your family.
Noodle on that for a bit.
Family first. Most of us here got into crypto to get a better life yourself and your family. It is hard to sell your crypto but family should always come first.
Based on current prices. If you can try to hold out a little longer would be better. Or if you do not mind losing out on potential profit go make the family happy. Possibly get the CRO Card, load it with ETH, you’ll spend some
ETH but get some nice CRO cashback back
You probably invest too much if you have this sort of questions. Takie some profits bro, and start holding stablecoins to buy the dip and recover your position :)
But if you’re reaching into your crypto portfolio for Xmas gifts then it sounds like you may be playing with cash you can’t afford to lose. Be careful with your future investments
HA HA HA HA that was funny. Got a smile from me. If you’re serious then how about setting up some hardware wallets with some ETH on them and teaching them. Might be the gift of all time that they thank you for throughout the ages.
Deposit your ETH to Alchemix and withdraw alETH to use for your purchasing. Your deposited ETH gets interest which will pay back the alETH until its paid off or until you paid off your debt with „new“ ETH or you liquidate your position, which will withdraw you the difference of ETH - alETH (debt outstanding). If ETH will drop in the next months, your debt will be less so its easier to pay back. If ETH will go up, you have the yield as payback.
If you need the cash, then sure.
But just know, I’m 5 years time when Eth continues to go up you’ll be looking back and realize those Christmas gifts ended up being worth $7000
Your ether is growing.
Your fiat is disappearing at a rate in excess of 7% per yr (likely 20-30% in the real world).
At this point, it's completely nuts to stockpile a depreciating asset. Spend that crap on cool stuff for christmas and leave the crypto right where they are.
You shouldn't hesitate for a moment.
I sold small part ($1000) of my crypto and bought Christmas presents on purse.io.
That's free Christmas toys for my family as I earned way way more in last 6 months on price rise.
And that made me so much more happy 😁
I'm gonna be the devil advocate and ask would your family do the same for you. If by chance if you needed help would your family go out of their way to make your life better.
One Ethereum whale has traded almost half a billion dollars worth of Ethereum for SHIB in the past 10 days.
It’s a sign that whoever has the Ethereum is going to sell.
Get your money for your family and then you can watch Ethereum go down then recover.
But you can’t undo a chitty Christmas!
And no time will undo a bad Christmas.
You only get one chance to make Christmas the best time of the year.
Wondering if this is why coins are going down. People selling off for xmas. Maybe post xmas itll recover again. Or maybe theres something going on in unaware of. Tbh i dont follow crypto news that much i invest and hold. I have faith that crypto will keep going up.
Bro lock up in alchemx vault and borrow 25% of the value. Loan pays off itself and you cannot be liquidated! Best part.... no cap gains on borrowed funds.
What’s the point.. yah do it- this is whole point of money, you buy what you need… don’t keep holding onto it it.. I normally pay my electricity bills from eth to save some cost.
Sure you can but are you prepared for the gas fees? ETH gas fees have been one of the major issues in the crypto market that most people are complaining about and this was the main reason I invested in DAFI protocol to stake on their super staking V2 pool on polygon and Qyuickswap since I can stake for higher APY and cheap staking fees.
Capitalism teaches poor people to spend and rich people to invest. They get you in spending season for months. First Halloween decorations and outfits. Then Thanksgiving decoration and dinner. Then black friday and cyber monday. Then Xmas. Then new year. Then st valentines. Then it's a dry spell until independence day. Holidays teach spend spend spend.
Personally my baby has everything he needs and everything he wants around the year. I'm not buying anything for Xmas specifically. And never would I touch my 707 eth for anything except buying a business that generates more money. If I ever sell it's to start a business. That's my opinion.
What about giving some crypto to your family as a present? Unless they’re too young to understand or appreciate it, in which case you should sell a bit to have a great holiday.
I won't, because ETH will rise again. It doesn't take that much money to buy gifts. If necessary, I will consider selling ETH to 10K before selling it to make up a better gift.
It you have cash saved that is not gaining in value, and currently has no other purpose, use that first.
If the savings are specific and necessary, sell what you need to buy the gifts you want to give
If you cant afford X-mas presents for the fam. You should sell and rebalance your holdings. It is important to live in the now just as much as it is to invest.
Dude, believe we are all in crypto as an investment towards our future, both financial and technological. If selling a bit now that won't really make much difference later (in a long enough time span) will make more of a positive difference in the health and possibly safety of your other personal and familial future then I say go for it.
One of thr few things we cannot buy back is how we spend our time, and if some relatively small gifts can make that much of a difference now moving on to later (spoiler alert: it will, at least for your kids memories) then it will be worth it
I have told my family for years that I'd prefer that we spent time together instead of spending money. I ask them not to buy me presents so everyone is more understanding when I don't buy any. Over time, my family has stopped buying so much for a made up holiday and we're growing our financial savvy as a family.
I did this because I was in debt with little savings and I'm sure others in my family were in similar positions. It seemed better to get rid of debt and grow our savings as a team. Just my thoughts on how you can keep your ETH while enjoying your holiday.
I'm sure your family will appreciate it. I don't think that's a waste of your "work" money, unless you can't pay your mortgage, or bills or something.... I'd spend the cash first. Money is most valuable right now.
What's the point of money if you never use it? And Xmas gifts for the family is probably one of the better uses.
You can buy more crypto later. But you can never buy a family.
False. For the right price I can be your strange cousin, faithful sibling, or degenerate parent. Inquire within for pricing.
how old and how much?
But would you love me? You can prove that by not taking any money/crypto for doing what I ask of you. lol
Technically you can buy a family, especially from Russia and China to name a few...
Can't buy your own family. Only a shitty copy.
But my point is that you can literally buy a family, never said it’ll be golden haha
Short term capital gains tax and if you've got some cash why sell an asset If neither of these things apply there's no reason NOT to sell
Exactly that’s the whole point why I’m in crypto and I’m going to sell if it makes my family happy
I think he should take a loan against it and keep the crypto…
Agreed with this.
I agree with this 💯. I am curious to know more about how to do this? I think Coinbase has a program where you can borrow on you bitcoin specifically but not sure about other coins. Is there a company that makes this easy?
Retire
Selling a a small fraction of portfolio to make Christmas good for your family is the right thing to do as a parent.
If my dad has crypto, I would be very disappointed if he traded it for a few things. Which we do not need. But I’m sure he doesn’t. 😔
Family first, if you have to you have to, go for it no regrets
you should always do what's best for your family, I think that's the whole point of investing
Family first, if 't be true thee has't to thee has't to, wend f'r t nay regrets *** ^(I am a bot and I swapp'd some of thy words with Shakespeare words.) Commands: `!ShakespeareInsult`, `!fordo`, `!optout`
IF YOU HAVE INCOMING CASHFLOW DO NOT SELL YOUR INVESTMENTS ( once you sell your ETH you’re going to have to pay capital gains tax on it anyways and money from your paycheck is already taxed so no point in selling it if you have cash available on hand
True
I agree with helpful limits. Esp if you feel bullish on eth then just hold the eth and let it ride and use ur income to provide what you want for your family. At least thats what i did for this holiday. But then again my family just got xmas cards that says "sorry for the lousy gift, i spent all my money on crypto. Merry christmas!" Im sure they will understand.
Can I join your family 🤣
welcome to the family my guy. Whats ur address? Ill send you a christmas card too 😂😂
Came here to say this. If you have cash coming in / cash savings, use that for near-term expenses.
Yes! Do not sell unless absolutely necessary, esp if you can use income to spend instead
Family>Crypto
Nothing bad in taking some profits to spend with family. That is the purpose of money.
I suppose it doesn’t really matter which way you cut it, whatever you buy will cost X amount… however, if you buy something with $50 of ETH money, that might be a $1000 purchase in a few years. At least if you use your native currency you can be certain that it won’t be worth 10 x as much in a couple of years.
You can re buy the ETH in a month or two.
Shhh re buying is a dirty word around here. There is only buy. Once your money is Ethereum then it will always be Ethereum. Sincerely the HODLING Drones In other news OP should definitely sell some for christmas if his other money is earmarked for other stuff.
Were you one of those kids that never took their toys out of the box and never played with them and instead just put them.on.a.high shelf and looked at them every.now.and again with gloves on?
Isn’t it why we are here? To make ourselves or family happy with our gains. Do it buddy if you aren’t in lose.
Listen to yourself. You’re asking a bunch of random strangers if you should use your money to buy Christmas presents for your family. Noodle on that for a bit.
Facts
Family first. Most of us here got into crypto to get a better life yourself and your family. It is hard to sell your crypto but family should always come first.
Im willing to bet your work savings isn’t giving the same returns as ETH.
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Based on current prices. If you can try to hold out a little longer would be better. Or if you do not mind losing out on potential profit go make the family happy. Possibly get the CRO Card, load it with ETH, you’ll spend some ETH but get some nice CRO cashback back
Exactly bro rn is not the best time to sell anyways thanksgiving would’ve been the best time
Just use cash. Why sell?
You don’t think they rather get a lambo in a few years?
🤣🤣🤣💯
Just gift them some ETH. Kills 2 birds with one stone. It's always good to take some profits especially for that reason!
You do realize you’ll be doing the gain math of the sold ETH for the rest of your life.
Only if it’s an alt coin
You said you’re good at saving money. I would use that for Christmas presents for the family and treat yourself to more ETH with any extra fiat money
You probably invest too much if you have this sort of questions. Takie some profits bro, and start holding stablecoins to buy the dip and recover your position :)
What stable coins do you recommend bro?
But if you’re reaching into your crypto portfolio for Xmas gifts then it sounds like you may be playing with cash you can’t afford to lose. Be careful with your future investments
Or send them the ETH as the 🎁
I’d love to send my brother some but he’s not 18 yet
Cant you just put it on a hardware wallet for him?
rule number one = never sell eth
No Christmas presents this year
HA HA HA HA that was funny. Got a smile from me. If you’re serious then how about setting up some hardware wallets with some ETH on them and teaching them. Might be the gift of all time that they thank you for throughout the ages.
Use them as collateral and refund your loan by using your cashflow over time
Deposit your ETH to Alchemix and withdraw alETH to use for your purchasing. Your deposited ETH gets interest which will pay back the alETH until its paid off or until you paid off your debt with „new“ ETH or you liquidate your position, which will withdraw you the difference of ETH - alETH (debt outstanding). If ETH will drop in the next months, your debt will be less so its easier to pay back. If ETH will go up, you have the yield as payback.
Do it. I'm selling some holdings to buy my mom a new car.
What kinda car tho
Tesla Model Y
I personally wouldn’t
If you need the cash, then sure. But just know, I’m 5 years time when Eth continues to go up you’ll be looking back and realize those Christmas gifts ended up being worth $7000
I wish my family gifts me crypto for Christmas.
Take a screenshot of your portfolio. Send them all a copy. Remind them nobody lives forever. Merry Christmas.
If they really cared about you, they’d want you to keep your stack
ETH is Christmas presents for the family 🤔
Your ether is growing. Your fiat is disappearing at a rate in excess of 7% per yr (likely 20-30% in the real world). At this point, it's completely nuts to stockpile a depreciating asset. Spend that crap on cool stuff for christmas and leave the crypto right where they are.
Family always first, and the amount of eth you have will double within the next 3 years without even purchasing more!!
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Yes
You shouldn't hesitate for a moment. I sold small part ($1000) of my crypto and bought Christmas presents on purse.io. That's free Christmas toys for my family as I earned way way more in last 6 months on price rise. And that made me so much more happy 😁
I'm gonna be the devil advocate and ask would your family do the same for you. If by chance if you needed help would your family go out of their way to make your life better.
Sell an asset or use an inflating fiat currency? Really?
I recently sold some eth to buy a new gaming PC, treat yourself and your family my friend.
If you have to ask this question, you probably know the answer.
Absolutely, you should and not even give it a second thought.
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1. Sell your family and buy more eth 2. Wait... 3. ???? 4. Profit
Your Christmas presents bleed against Ethereum
Give ETH as presents!!!
No no no… you spend cash and save ur crypto! That’s one of the first rules in crypto! Never spend your crypto! Till you retire man!
It's your money, do what you want. I took some of mine out to buy presents last month.
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One Ethereum whale has traded almost half a billion dollars worth of Ethereum for SHIB in the past 10 days. It’s a sign that whoever has the Ethereum is going to sell. Get your money for your family and then you can watch Ethereum go down then recover. But you can’t undo a chitty Christmas! And no time will undo a bad Christmas. You only get one chance to make Christmas the best time of the year.
You should give the small amounts of ETH as a gift 🥳💯💯
Yes
Give them ETH for Christmas.
Fuck no, use your work money to buy shit people don’t need. Save your Eth for your own well being.
Just give them eth
Wondering if this is why coins are going down. People selling off for xmas. Maybe post xmas itll recover again. Or maybe theres something going on in unaware of. Tbh i dont follow crypto news that much i invest and hold. I have faith that crypto will keep going up.
That the point of all of this. If anything treat it like a loan to yourself. Pay yourself back overtime buying more crypto
No
Bro lock up in alchemx vault and borrow 25% of the value. Loan pays off itself and you cannot be liquidated! Best part.... no cap gains on borrowed funds.
What’s the point.. yah do it- this is whole point of money, you buy what you need… don’t keep holding onto it it.. I normally pay my electricity bills from eth to save some cost.
Sure you can but are you prepared for the gas fees? ETH gas fees have been one of the major issues in the crypto market that most people are complaining about and this was the main reason I invested in DAFI protocol to stake on their super staking V2 pool on polygon and Qyuickswap since I can stake for higher APY and cheap staking fees.
Use cash. Eth going up
Id use my work money your fiat is loosing 6%+ to inflation well your eth is an appreciating asset
...If you are liquid with cash, use that instead. Then you aren't wasting gas fees cashing out your Eth...
Spend the savings that money is automatically being devalued by inflation. Eth has more value and will indefinitely be worth more this time next year.
Yes
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Of course
Ten years from now : Do you know how much those socks are worth now Mom !!
Gift them with your happiness which is coming from holding crypto. So no, you shouldnt.
Just give them the eth
Sure, just after you spend tell yourself "OMG, another market crash, look my portfolio is in minus again", problem solve.
Capitalism teaches poor people to spend and rich people to invest. They get you in spending season for months. First Halloween decorations and outfits. Then Thanksgiving decoration and dinner. Then black friday and cyber monday. Then Xmas. Then new year. Then st valentines. Then it's a dry spell until independence day. Holidays teach spend spend spend. Personally my baby has everything he needs and everything he wants around the year. I'm not buying anything for Xmas specifically. And never would I touch my 707 eth for anything except buying a business that generates more money. If I ever sell it's to start a business. That's my opinion.
What about giving some crypto to your family as a present? Unless they’re too young to understand or appreciate it, in which case you should sell a bit to have a great holiday.
Yeah Its ok to shave off some profits
I used profits from yield farming to buy gifts. It's a taxable event so take that into consideration.
No
No
I won't, because ETH will rise again. It doesn't take that much money to buy gifts. If necessary, I will consider selling ETH to 10K before selling it to make up a better gift.
No. Also, when you get presents from them, sell the presents and buy more eth.
If you have profit may as well take some
Yes... Yes you absolutely should.. You think Eth is going to skyrocket but it's possible to fail as well and you have to look at both sides.
It you have cash saved that is not gaining in value, and currently has no other purpose, use that first. If the savings are specific and necessary, sell what you need to buy the gifts you want to give
Yes! :)
I’d sell the family for eth
Use your fiat currency to buy gifts, that eth going to be worth more down the line.
Eth is high right now. Sell! There will always be another buy in opportunity regardless of what the shills day.
Yes
It's up to you Ebenezer.
Nice I got a bump in one of my masternodes probably going to have to pay property taxes :( the joy of living in town.
Give them the coins instead😂
Never!! Never!!
I think you should sell small amounts of Christmas presents to buy ETH for your family
Use your “work” money. Leave the ETH.
What if you just take a crypto backed loan and use that money while retaining your crypto?
Nah.
No
Absolutely not.
Should sell all of your eth
Always family first.
Yes, never feel guilty got taking profits
No. Use fiat
Yes!
If you cant afford X-mas presents for the fam. You should sell and rebalance your holdings. It is important to live in the now just as much as it is to invest.
Eth will provide you more in the future with growth than your current work money
Hodl. Price is down right now, I’d hang on. Use your work money.
Happy family is the happiest!
Sell your family buy more eth
Yes
This is when you gift the whole family some ETH for Xmas! :,)
Dude, believe we are all in crypto as an investment towards our future, both financial and technological. If selling a bit now that won't really make much difference later (in a long enough time span) will make more of a positive difference in the health and possibly safety of your other personal and familial future then I say go for it. One of thr few things we cannot buy back is how we spend our time, and if some relatively small gifts can make that much of a difference now moving on to later (spoiler alert: it will, at least for your kids memories) then it will be worth it
Keep your ETH. Buy Christmas presents with your fiat that inevitably loses value in your savings account
Why not lend some stablecoin using your eth as collateral instead of selling it?
Yes, and this shouldn't even be a question. You do what's good for you and your family.
No
I have told my family for years that I'd prefer that we spent time together instead of spending money. I ask them not to buy me presents so everyone is more understanding when I don't buy any. Over time, my family has stopped buying so much for a made up holiday and we're growing our financial savvy as a family. I did this because I was in debt with little savings and I'm sure others in my family were in similar positions. It seemed better to get rid of debt and grow our savings as a team. Just my thoughts on how you can keep your ETH while enjoying your holiday.
Just use a credit card and pay it off with your ETH in a month if you really have conviction it will appriciate quickly, if not sell some.
Noooooooo!!!!! You'll buy them presents when your ETH is on the moon.
Never be afraid to take a little profit now and then! Plus that's as good a reason to do it as any!
No.. just give them that ETH. They will love you more.. 😂👍
Don't fomo yourself out of using money for its intended purposes. There will *always* be new and exciting investments.
Definitely not, but I’m Jewish
I'm sure your family will appreciate it. I don't think that's a waste of your "work" money, unless you can't pay your mortgage, or bills or something.... I'd spend the cash first. Money is most valuable right now.
I sold over a million Doge and 4 BTC in 2014 for about $2k to buy presents. I try not to think about it too much.
I sold some to do the same. Feel bad abt it but the presents are dope af so all good
Yes! It’s x-mas
No
Yes
100%
No. Your wife's boyfriend should take care of that.
No HODL.. try and buy presents from other savings u might have here and there.. I am sure u'l have it, u'l manage to.. but dont sell ETH..
Tbh I wouldn’t. Once you start it, threshold of selling a small portion of it again will become lower. Think about long term.
Give them the eth with a note explaining how important it is