Quote from: The Pharmacist on July 16, 2019, 07:58:01 PM

Quote from: exstasie on July 16, 2019, 07:38:18 PM

Quote from: RodeoX on July 16, 2019, 07:10:05 PM

Remember, you have not lost any money until you sell at a loss. So don't do that.

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I'm not a fan of that mentality.
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Nor am I, and I don't even believe it's a true statement. ...

I doubt we disagree much. I don't think it's a "golden rule" to not sell at a loss. But in his situation as a new user, buying actual bitcoin with it's history and growth potential, selling would be a bad call statistically.

For the reasons both of you stated in your posts, I agree that loss cutting is part of the game in investing. If you need the money for a better opportunity, or the return on investment time is to long, or if you just don't see more growth. However, bitcoin compares very favorably to most investments on these fronts. I have seen a lot of new users buy into a silly rally only to then panic sell into a crash. Six months later their capitol is gone and the valuation of bitcoin has doubled.

So my advice to the OP is start by taking a breath and ridding your mind of emotion. Our emotional side works well for some things, but is a shitty mathematician. If the price is falling you may "feel" that something must be done. Selling may give a sense of control by stopping the bleeding, but try stepping back and looking at fundamental facts.

1. Why am i doing this bitcoin thing, what is my goal?
2. What are the chances of meeting the goal by doing nothing at this moment vs. selling?