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RE: The Big Question: Should You Sell or Hold During a Market Correction
This is either 7, or 6A
7 ) What if you get out of cryptocurrencies into cash, just as a black swan hits. And I don't mean cash in hand, I mean cash in a bank, where they will lock it up while you watch it disappear. Just like MFGlobal.
If you are good at trading, and can emotionally handle the rollercoaster, and you have money(s) you can lose, then go for it.
Else, it is often just better to put your time and effort into other opportunities. (like writing blog posts) This will inevitably gain your more than just a pile of coins.
I tell people now and again to google "bank bail-ins" and how their deposits don't actually belong to them. Most don't get it.
I'm certainly enjoying the writing blog posts part and the interactions with the community. :)
I try to talk about MFGlobal. I tell people how lots lost their money... and people say, well, that is what happens when you gamble on the stock market... and I tell them no, it was in segregated account, one that is supposed to be more sacred than even a savings account... and they just don't believe me.
Then I tell them that people who stored gold in the vault didn't get all their gold back.