When I first started my Crypto Journey as a small (and stupid) private Investor I first bought ETH. After that I bought the "old & slow" BTC.
When I gained 100%+ after around 1 year, I sold half of my BTCÐ to own "free crypto".
It felt like I was Warren Buffet on Crack and it also definitely helped me to get through the bear market after 2017.
In this time I became a hardcore "BTC or die"-Guy. I still own some stupid altcoins, but really small amounts.
Its gambling and testing around for me. I don't want to outperform BTC with it, just try staking or the network itself.
Right now I feel like (besides all the risks), that I don't want to trade my BTC back to weird fiat digits on my bank account
- Even at times it maybe would be the more financally smart thing to do. Maximizing profits aside: How do you guys feel about selling
BTC for fiat gains (or even at a loss [maybe for tax reasons or because your insane
]?
Do you guys life by the "No Neo, I'm trying to tell you that when you're ready... you won't have to (sell your btc)"-Meme or
are you mere mortals that sell before they lose their fiat profits?
When I gained 100%+ after around 1 year, I sold half of my BTCÐ to own "free crypto".
It felt like I was Warren Buffet on Crack and it also definitely helped me to get through the bear market after 2017.
In this time I became a hardcore "BTC or die"-Guy. I still own some stupid altcoins, but really small amounts.
Its gambling and testing around for me. I don't want to outperform BTC with it, just try staking or the network itself.
Right now I feel like (besides all the risks), that I don't want to trade my BTC back to weird fiat digits on my bank account
- Even at times it maybe would be the more financally smart thing to do. Maximizing profits aside: How do you guys feel about selling
BTC for fiat gains (or even at a loss [maybe for tax reasons or because your insane
]?Do you guys life by the "No Neo, I'm trying to tell you that when you're ready... you won't have to (sell your btc)"-Meme or
are you mere mortals that sell before they lose their fiat profits?
We know very well that Fiat is an inflationary currency and it will continue losing its purchasing power with the passage of time but we need it to buy goods and services until Bitcoin is fully adopted. I don't think I am a Maxist but I understand Bull and bear cycles and would sell part of my Bitcoin in Bull market and buy it again in the bear market to increase my Bitcoin though sometimes this kind of decision is risky as nobody can correctly predict the Top and bottom of market despite good knowledge and skill of Technical Indicators.