05-16-2021, 02:57 AM
Piece of advice: invest in cryptocurrencies that you could at least potentially see
<!-- SC_OFF --><div class="md"><p>So, so, SO many people are completely missing the point of cryptocurrencies. Even the ones screaming "HODL!!!" and "TO THE MOOOOOOOOOON ???" are still just trying to convince others not to sell so that they can continue to make a profit until they feel the bull run is ending or just can't resist cashing their profits any longer.</p> <p>I believe this is largely due to the fact that this is exactly what the actual stock market has become. Originally, stock markets were truly about investing in companies you believe have a great product and will eventually be profitable and pay dividends. That's changed over the last few decades though, and it's now little more than speculation about how the public will perceive the value of the stock itself in the future. As if the stock unit itself has utility with intrinsic value. It does not.</p> <p>This, however, is not the intention with crypto. All of the legitimate cryptos are attempting to build a network in which the trading units themselves actually have true utility and intrinsic value.</p> <p>So my advice: stop trying to figure out how long you should hodl, and when you should finally sell back for fiat. If you truly believe in the crypto you're investing in has real utility, then you should just be waiting until you can actually USE/SPEND it, maybe selling small amounts of your profit for fiat along the way to cover life expenses. Otherwise, you're probably investing in crypto for the wrong reasons.</p> <p>PS - I hold nothing against people who have made a huge profit buying and selling crypto in short periods, I just want people to realize that using it in such a way is little more than gambling. True "investors" should be looking for crypto that they have long term faith in.</p> <p>edit: No. I am not saying to never USE/SPEND any profits. I'm saying to invest in cryptos that you could see never selling back for FIAT, other than small amounts for life expenses. I'm also not telling you what to do with your money. If you want to gamble on crypto that you think could make you a quick buck despite lacking long term reliability, by all means go for it. But I'd encourage you to take a different perspective on crypto technologies. Just some friendly advice.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/EnigmaticMJ"> /u/EnigmaticMJ </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/nd00tk/piece_of_advice_invest_in_cryptocurrencies_that/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/nd00tk/piece_of_advice_invest_in_cryptocurrencies_that/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>So, so, SO many people are completely missing the point of cryptocurrencies. Even the ones screaming "HODL!!!" and "TO THE MOOOOOOOOOON ???" are still just trying to convince others not to sell so that they can continue to make a profit until they feel the bull run is ending or just can't resist cashing their profits any longer.</p> <p>I believe this is largely due to the fact that this is exactly what the actual stock market has become. Originally, stock markets were truly about investing in companies you believe have a great product and will eventually be profitable and pay dividends. That's changed over the last few decades though, and it's now little more than speculation about how the public will perceive the value of the stock itself in the future. As if the stock unit itself has utility with intrinsic value. It does not.</p> <p>This, however, is not the intention with crypto. All of the legitimate cryptos are attempting to build a network in which the trading units themselves actually have true utility and intrinsic value.</p> <p>So my advice: stop trying to figure out how long you should hodl, and when you should finally sell back for fiat. If you truly believe in the crypto you're investing in has real utility, then you should just be waiting until you can actually USE/SPEND it, maybe selling small amounts of your profit for fiat along the way to cover life expenses. Otherwise, you're probably investing in crypto for the wrong reasons.</p> <p>PS - I hold nothing against people who have made a huge profit buying and selling crypto in short periods, I just want people to realize that using it in such a way is little more than gambling. True "investors" should be looking for crypto that they have long term faith in.</p> <p>edit: No. I am not saying to never USE/SPEND any profits. I'm saying to invest in cryptos that you could see never selling back for FIAT, other than small amounts for life expenses. I'm also not telling you what to do with your money. If you want to gamble on crypto that you think could make you a quick buck despite lacking long term reliability, by all means go for it. But I'd encourage you to take a different perspective on crypto technologies. Just some friendly advice.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/EnigmaticMJ"> /u/EnigmaticMJ </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/nd00tk/piece_of_advice_invest_in_cryptocurrencies_that/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/nd00tk/piece_of_advice_invest_in_cryptocurrencies_that/">[comments]</a></span>Kind Regards R