Profit taking - crypto time

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Hi,

as I see that the crypto world is again going full speed ahead, and remembering the summer of 2018, when crypto went into hibernation caused by the bear market, I've been looking to take some profits and reinvest them into some other ventures and to build a safety net for the months to come.

My friend, @empoderat, laid out a plan for in this post for the bear market. 1 million is only an arbitrary value, and this plan can be scaled to any value of choice, being it lower or higher.

Well, the best advice might be HODL, as time in the market, beats timing the market. It is a fact that patterns might look similar, but we are never sure as it is going to be the same this time. Probably just accumulating and staking would benefit the most of us, as we have a lot of examples around us who did amazingly by only hodling. Will not tag them, as this is not for trying to get their votes.

In 2018, I've taken some profits, and I was glad I did, because they helped me a lot.

Now, as I embark on a new and bigger project, will take some fair amount of crypto profits and will invest them into a company I've started with some partners. I've started with partners, as there is a saying, if you want to go fast, go alone; if you want to go far, go together. It is a project for the long run, and I've seen that on bigger projects, partners are imported. The new company is working, and we had today our first delivery. It was not the most profitable, but it was the first, and showed that the concept is working and can bring more than a living for all involved.

How much will I invest in this venture? Somewhere at 5% of my crypto holdings and, maybe, a monthly share of 0.5%-1%, depending on needs and growth potential.

Crypto is for me a new way of achieving financial freedom. I'm not fighting windmills, but I try to look after my family and dear ones, and crypto can help a lot from this point of view.

6 months ago, I wanted to adopt the HODLing method till 2025, but I can't. I need to build something, and to develop. So, 3 months ago, at a drink, we got the idea to gather together and use the skill set we have. For me, probably will mean to leave Germany, but this is not an issue, and in theory can be beneficial to avoid paying so high taxes for people that won't work.

Life changes fast, maybe faster than crypto. I'm glad to be a crypto early adopter, as we all are early adopters, and glad that crypto has improved massively my life.

How about you?

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7 comments
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Good luck on you new venture!

Leaving a home country can be hard but those high taxes do make it easier :)

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Well it makes sense for those who aren't actively working to move away from the big cities and cut down costs. After all your relying on a limited budget for the most part and I don't think you will miss too much since everything is moving digital.

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definitely gonna take some profits :P

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