09-30-2021, 10:35 AM
HODL is a strategy only works if your coins will suceed in the future
<!-- SC_OFF --><div class="md"><p>Okay I have a confession to make. I used to invest on shitcoins, scamcoins, lottery and charity coins, etc. This is during May. One of my biggest success was Bonfire, I invested ~$100 when the market cap was $20mil and watch it grow to $500mil in a matter of a week. </p> <p>My $100 became close to $3,000 but ofcourse I didn't sell a dime because the roadmap is crazy good (duh) and the AMA was reassuring. Then the May crash happened. I watch my investment shrunk to $2,000 then to $1,000 and then back to my original investment. I felt terrible but who will sell just to breakeven right? Even more so their telegram group scream "HODL" in solidarity which encourages me to wait it out.</p> <p>Fast forward in Sept, just 2 weeks ago the devs announced that they will abandon the project and create a new token instead. This is because they can not change the transaction tax and creating NFT marketplace inside the ecosystem would not be feasible by it. In the light of such news the price dumps even more. What worse is that the devs did not promise to issue 1:1 migration which should at least help ease the current holders pain, they just say "fuck it, you are on your own. We sold our bags and move on."</p> <p>Safe to say I won't be selling my now $20 worth of coins but you should not feel discouraged to take profit here and there especially if what you're investing is a shitcoins or really small cap coins no matter how bullish or how much faith you have in the project. I lost money but that doesn't mean you have to as well. sometimes HODLING will leave you to become eternal HODLER.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/LebornVsMikeShinoda"> /u/LebornVsMikeShinoda </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/py9uzb/hodl_is_a_strategy_only_works_if_your_coins_will/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/py9uzb/hodl_is_a_strategy_only_works_if_your_coins_will/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>Okay I have a confession to make. I used to invest on shitcoins, scamcoins, lottery and charity coins, etc. This is during May. One of my biggest success was Bonfire, I invested ~$100 when the market cap was $20mil and watch it grow to $500mil in a matter of a week. </p> <p>My $100 became close to $3,000 but ofcourse I didn't sell a dime because the roadmap is crazy good (duh) and the AMA was reassuring. Then the May crash happened. I watch my investment shrunk to $2,000 then to $1,000 and then back to my original investment. I felt terrible but who will sell just to breakeven right? Even more so their telegram group scream "HODL" in solidarity which encourages me to wait it out.</p> <p>Fast forward in Sept, just 2 weeks ago the devs announced that they will abandon the project and create a new token instead. This is because they can not change the transaction tax and creating NFT marketplace inside the ecosystem would not be feasible by it. In the light of such news the price dumps even more. What worse is that the devs did not promise to issue 1:1 migration which should at least help ease the current holders pain, they just say "fuck it, you are on your own. We sold our bags and move on."</p> <p>Safe to say I won't be selling my now $20 worth of coins but you should not feel discouraged to take profit here and there especially if what you're investing is a shitcoins or really small cap coins no matter how bullish or how much faith you have in the project. I lost money but that doesn't mean you have to as well. sometimes HODLING will leave you to become eternal HODLER.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/LebornVsMikeShinoda"> /u/LebornVsMikeShinoda </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/py9uzb/hodl_is_a_strategy_only_works_if_your_coins_will/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/py9uzb/hodl_is_a_strategy_only_works_if_your_coins_will/">[comments]</a></span>Kind Regards R