IF YOU OWN CRYPTO YOU WILL HAVE TO FACE THIS
In the UK we have a television game show called ‘deal or no deal’. For those of you that are unaware, the object of the game is to select boxes to be opened at random. The boxes contain a cash amount, with half being high figures and the rest being small change. The amount that is in the final box is won by the player.
As more and more boxes are opened it becomes clear how likely the player is to win larger amounts. The constant will at some point be given an opportunity to accept an arbitrary settlement to forfeit the game. This is the ‘deal or no deal’ moment.
Moving the conversation back to crypto. Imagine the scenario from a few years ago. Bitcoin was worth $160, and many had bought it for virtually nothing. At some point it would have gone up-to $2000. Some would have said ‘deal’ and sold their steak for enormous gains. The alternative was to watch it bleed slowly down to $100.
Imagine that you had held onto it, and then 2 years later it hits $2K again. The question again would be ‘ deal or do deal’. I can see the temptation being strongly to sell. If you had done you’d missed out on $20k.. or maybe even $50k on day.
If you own crypto, this dilemma will be one each of us will have to face.
Crypto assets live in a uniquely volatile market environment. Quite simply put, no one knows how to value them. Demand for particular assets are driven by speculation. That does not mean there is no intrinsic value to them, but their true price point will only become obvious in the future.
Until then, it will be interesting to see with the Benefit of hindsight who played the best game. For now I’m holding on.
Probably at the early stage (about 3 to 5 months) in crypto space you always have this FUD. But later on when you realized you are actually investing into a good technology and your convinced that this technology become useful in the future -- whatever is happening at the moment is not a big deal. Its no deal i HODL it.
Thanks for the reply, I agree that good tech is good to hodl.
But I do think that’s gonna be a challenge for these techs reaching higher highs.. when it does reach its resistance lines it’s problably the same valuation as lots of peoples break even point. So mass sell off are likely to happen proving the resistance to be a self forfilling.
It sounds like me and you are in the ‘no deal’ catogry. My ethos is that my money is on a journey. The fact the most crypto is not inflationary means that good projects automaticity gain value against fiat.
Happy hodling,
Nick
Yes. That is why i really not recommend to the people around me, especially to the newbies -- DO NOT go into crypto JUST for financial gain (specially this time) unless you understood the risks.
I pass through sleepless nights, I pass through months of worrying, I pass through even the curse of my wife because of it.
Till then i realized that crypto is not just ONLY financial gain BUT THE BELIEF on the technology that would help us live better lives in the future.
What do i say to them? Invest on their self first - study and do their personal research.