Monday 25 June 2018

Down 70% and still HODLING: Here's Why


I know a lot of people are panicking in this market and want to get out, but I'm not one of them, since i'd only be losing money over the long term if:I sell. Right now despite the huge crash in my portfolio since my fomo buy, I only have unrealized losses, which would only materialize if I convert into fiat. The same would be true if i was up 1000%. The gain would only mean anything if i actually cashed it out.The market stays bearish for a long time. It's not that big a deal if we crash to zero and back again in a time frame similar to 2014. Even in the most bullish environment I'm not expecting to become rich overnight. The crypto millionaires are rich because they either believed in the underlying tech or simply forgot about their investment for extended periods of time (5+ years). There's many idiots who got in at sub 1$ and have nothing to show for it.That being said, if the crypto market takes 20-30 years to recover, I'd be pretty pissed, since that would become dead money that could have been put to better use elsewhere (getting a down payment so I can try my hand on the real estate casino, getting in on the Nasdaq, etc).The market goes to 0. Pretty self-explanatory. Satoshi turns out to be Rothchild in disguise of something and Bitcoin crashes to nothing and I lose all my money. Definitely possible, but highly unlikely. At the very least, even if bitcoin has no other use case, it's still a good hedge against traditional assets.In addition, I expect big corporations to start printing their own money (AMZN coin anyone?). There's no good reason they shouldn't. They can raise money from across the world with no accountability. Once that happens the whole market will boom again.My advice to to everyone on this sub and to myself: stop looking at the charts and come back in 2 years. via /r/Bitcoin http://bit.ly/2Mo2hlb

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