Thoughts from an old school cypherpunk…

Cryptocurrency News and Public Mining Pools

Thoughts from an old school cypherpunk…

So I'm a long time crypto hodlr. Old school cypherpunk that's been acquiring crypto since 2011. Faucets originally, Mining something since 2012, spent, given away, bought and sold a lot along the way. I almost logged in to my old reddit account just so I didn't get called full of shit, but I don't remember the password and I'm lazy as fuck. Plus I have a shitton of personal information posted from before I was actually worried about it. I see a lot of different opinions on bull/bear- it's over! It's just starting! We've got months left!! All kinds of shit…truth is we won't know until it's over. There's also a bunch of people who are feeling the FUD and depression that comes with red days. I understand. I've been there. I've rode this rollercoaster for 11+ years. So I'm gonna drop some hard earned knowledge on y'all. Most you've heard before. But sometimes it's good to be reminded? Take it or leave it- obligatory this isn't financial advice.

It's only a loss when you sell. Solid coins/tokens are solid no matter what the price. If you did at least some research and the fundamentals are solid? Hodl. Btc, ETH even litecoin will be around next cycle. Solid projects stand a good chance of sticking around for the long term. If you believed in your coin what changed? If the answer is nothing? Hodl. You'll be back in the green eventually. If you put in $100 into some random shitcoins? Get out now. Even at a loss. Or wait a minute for the dead cat bounce. Just have a plan to exit or be prepared to lose all your investment. Most likely that shits going to zero in the bear. It's meme coins this time, last time it was ICO's (and shitcoins lol)…history has a way of repeating.

Never buy at the ATH. I love DCA. Do it religiously. Every week my DCA (amount in fiat) goes into something. But! I never buy coins at the ATH. The price is more likely to go down than up. I know this is contrary to DCA strategy, but if your coins hitting ATH after ATH? You don't want to be buying. Slow and steady upwards? It's safe to DCA. Crazy bull? Hodl what you've got, or take profits if you want, park your fiat in something safe and just watch. Cash or stable coins on the exchanges is where I park my fiat, but a savings account is ok. So is something like a mutual fund or ETF if you can move the fiat easily without a bunch of fees. The bear runs are where you accumulate- bulls are for realizing the profits. You're not going to realize your in the bull run as soon as it starts. It's going to seem like it's just going up organically. That's ok! My last BTC buy was at 48k. I started Dca'ing into stable coins right after that. I was starting to get nervous at a lower price but I ignored it. Am I down a little right now? No actually. I'm not. I'm still up and I haven't lost a single dollar of my original investments if you average my buy price.

It's ok to take profits. Your not paper handed. Cash some out to cover your initial investment. Or to take a trip, or buy something nice. As long as your up? It's a win. It's a Plus if you can pay for it in crypto! Huge gainz on paper mean Jack shit in the real world. Just never sell at a loss!! Except shitcoins- sell those mofos.

You'll see people talking about 80-90% losses. Some of those are losses from unrealized gains. Maybe not all. But a bunch. If you put $1,000 into a coin and it jumped to $10,000 then fell back to $1,000? That's not a 90% loss. That's break even. But we tend to talk about it like we put in $1,000 and it fell 90% to $100. That's a 90% loss. Separate them in your mind. It helps.

I have what I call my "retirement" bags. This is the amount of each coin I hold until retirement, or 1 million dollars, whichever comes first LMAO. This is a completely personal decision. I can't say exactly how much of each is right for anyone but me. But it's something for you to think hard about and decide. Those bags I won't sell. Or even stake. They live on the blockchain protected by my hardware wallet. I don't even take profits from them. But each is a solid coin in a different category. De-fi, privacy, currency you get the point…BTC and ETH are my main 2 but there's a couple others in there. Pick your retirement coins. Stick with them!

I don't know how to end this long-ass post except to say, it gets easier. And it'll get better. I'm kind of numb at this point to the big ass swings. I know crypto is around to stay in some capacity. Even if it's not exactly as it is today, it'll be here. I believe in the tech, I saw Satoshi and Hal's vision. There's a bunch of new and innovative individuals who picked up the torch that those guys lit. We jumped into this to change the Fucking world! Making money was a Plus. That vision and idea still exists. It gets lost among all the gains and losses but it's still there. Some of us still believe in the original vision. Go spend some time checking out the old posts. Or read an article or 2 on the original intention and vision. Might just convert you to a cyperpunk like me…

submitted by /u/HeyCc1
[link] [comments]