Would you Rather be Given $100k USD or 10 BTC Today?

in #trading6 years ago

The other day I was scrolling through crypto Twitter and came across the following question from CrytoCobain.

After 10 seconds of thought, I said 10 BTC of course. I made my selection and the results for the poll surprised me.

Why would 45% of roughly 25,000 people choose $100,000 USD. Surely not that many people would rather buy altcoins then Bitcoin with that amount of money?

The answer struck me like a bolt of lighting shortly after. Why would I choose 10 BTC when the current value of BTC is <$10,000. I can buy more BTC today with the $100,000, so if my goal is to accumulate as much Bitcoin as possible while it's cheap, the smart answer is the money.

Source

This highlighted 2 things for me:

  1. How often do we make bad choices in the hopes that one day Bitcoin will be worth $1,000,000. The amount of Bitcoin hopium I have is not be a good thing when it comes to making smart trades.

  2. Taking profits and having a trading plan is never a bad thing and can save from major losses in the future. When you have a chance and it fits into your plan never feel bad about taking profits, no matter how small.

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What was your answer when you first clicked on the article? Did you change your mind as well or did you stick to your original choice? Let me know in the comments down below.

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My first thing was clearly 10 btc but as a read your right 100k would buy me more then 10btc at this time but it is also way harder to get 100k in btc from fiat

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I'm glad I'm not the only one that made this mistake!

Also glad you responded using @partiko. Seems like a sweet app for steemit so far.

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