03-01-2021, 06:13 PM
I just read a 6 year old post in this sub that really makes you think....
<!-- SC_OFF --><div class="md"><p>I was just reading a six year old post on this sub. Basically, a user was lamenting that he bought 50 BTC (could have bought 200), friend told him to sell at $200 and didn't, sold out at $108, ended up several thousand in credit card debt afterwards day trading.</p> <p>Obviously, knowing what we know now, the guy with his 50 BTC would be sitting on $2,300,000+ instead of a few thousand in credit card debt today.</p> <p>Obviously, hindsight is everything, but really makes you think about your decisions going forward.... I know after reading it, I will be much more aware of letting go of coins before they become "life changing".... Basically, I think that will be my policy going forward. Unless selling the coins is profoundly "life changing" ($2.3 million certainly falls in that category), I won't sell ever.</p> <p><strong>EDIT: JUST TO CLARIFY -</strong></p> <p>I guess the point I am taking from this is not that looking back "we know now" (duh). That is an old story.</p> <p>What I am trying to say is, why are we doing this if not for "life changing" results?</p> <p>Unless our coins are life changing, should we be selling them ever? I am starting to think not.</p> <p>I just came across ANOTHER post 3 years ago where a guy jokes that he bought "millions of DOGE". Dude probably dropped like $100 on that. Again, life changing money today. Probably would have walked away with a cool $1 million easy.</p> <p>If I drop $100 on a coin that is going for $.0001 today, unless that is $1 million, I'm not selling after reading this stuff.</p> <p>THAT is my take away from all this. If you put money in, unless it is life changing, you should not ever take it out even if it could go to $0.</p> <p>What is "life changing?". For me, the answer to this question has to be YES - "Will this amount of money profoundly impact my life for AT LEAST the next 10-20 years?". For me, that is probably $1 million+. Maybe for someone else that is $50,000. Maybe for another it is $10 million.</p> <p>​</p> <p><strong><em>In the post, the user said the following:</em></strong></p> <p><em>"Started with 50 bitcoins last year in April before the crash. Started buying at $10. Could have bought over 200 bitcoins but stopped at 50.</em></p> <p><em>Friend told me to sell above $200 but I didn't. Ended up selling at $108 or so.</em></p> <p><em>...</em></p> <p><em>.... Day traded from there and lost all $33,000 and went a few thousand into credit card debt trying to make money. "</em></p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/FunctionVoidSmall"> /u/FunctionVoidSmall </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/luw8m4/i_just_read_a_6_year_old_post_in_this_sub_that/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/luw8m4/i_just_read_a_6_year_old_post_in_this_sub_that/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>I was just reading a six year old post on this sub. Basically, a user was lamenting that he bought 50 BTC (could have bought 200), friend told him to sell at $200 and didn't, sold out at $108, ended up several thousand in credit card debt afterwards day trading.</p> <p>Obviously, knowing what we know now, the guy with his 50 BTC would be sitting on $2,300,000+ instead of a few thousand in credit card debt today.</p> <p>Obviously, hindsight is everything, but really makes you think about your decisions going forward.... I know after reading it, I will be much more aware of letting go of coins before they become "life changing".... Basically, I think that will be my policy going forward. Unless selling the coins is profoundly "life changing" ($2.3 million certainly falls in that category), I won't sell ever.</p> <p><strong>EDIT: JUST TO CLARIFY -</strong></p> <p>I guess the point I am taking from this is not that looking back "we know now" (duh). That is an old story.</p> <p>What I am trying to say is, why are we doing this if not for "life changing" results?</p> <p>Unless our coins are life changing, should we be selling them ever? I am starting to think not.</p> <p>I just came across ANOTHER post 3 years ago where a guy jokes that he bought "millions of DOGE". Dude probably dropped like $100 on that. Again, life changing money today. Probably would have walked away with a cool $1 million easy.</p> <p>If I drop $100 on a coin that is going for $.0001 today, unless that is $1 million, I'm not selling after reading this stuff.</p> <p>THAT is my take away from all this. If you put money in, unless it is life changing, you should not ever take it out even if it could go to $0.</p> <p>What is "life changing?". For me, the answer to this question has to be YES - "Will this amount of money profoundly impact my life for AT LEAST the next 10-20 years?". For me, that is probably $1 million+. Maybe for someone else that is $50,000. Maybe for another it is $10 million.</p> <p>​</p> <p><strong><em>In the post, the user said the following:</em></strong></p> <p><em>"Started with 50 bitcoins last year in April before the crash. Started buying at $10. Could have bought over 200 bitcoins but stopped at 50.</em></p> <p><em>Friend told me to sell above $200 but I didn't. Ended up selling at $108 or so.</em></p> <p><em>...</em></p> <p><em>.... Day traded from there and lost all $33,000 and went a few thousand into credit card debt trying to make money. "</em></p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/FunctionVoidSmall"> /u/FunctionVoidSmall </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/luw8m4/i_just_read_a_6_year_old_post_in_this_sub_that/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/luw8m4/i_just_read_a_6_year_old_post_in_this_sub_that/">[comments]</a></span>Kind Regards R