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RE: What I wish I knew when starting out in cryptocurrencies

in #cryptocurrency7 years ago

I would say: make a plan. There is nothing wrong with making a quick move, as long as yo know where you're going. The risk is that you might need to rethink your plan if the market is against you. Case in point: about a month ago I was looking at the eth/bts pair on openledger. It was at 4000 bts. I was millimeters away from sacrificing the eth I had. The crash happened, my plan is still to get as much bts as possible. I recently sold steem to make it happen. Not much, but at a decent price. But to sell off eth to get there at a 1000 is not good enough trade. There are endless possibilities.

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Well, it depends on how you see a quick move. If your quick move is to make a move when the time is right, it might be a good idea. But if your quick move is to make a decision based on a whim, then it might not be that good of an idea. At least that is how I see it, but I might be wrong.

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