RE: AskLEO: Power Down Leo, Hive or Both?
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Personally, I think you've got to at least wait for the LeoBridge to kick in and probably projectblank as well. LeoBridge could potentially burn a TON of Leo in the weeks ahead, drying up supply and fueling a run. And any Leo you power down now not only takes that potential away, but it also loses you free airdropped pointblank in the future. Seems like a double-whammy to me. That said, it's sometimes hard to remember that you don't actually make any money until you sell. It's all well and good to be a paper millionaire but, like you say, if you never sell and USE any of the money, what good is it?
For my money, I'm going to wait. I think things are finally starting to move in the right direction. I'd hate to sell at 50 cents only to watch Hive go over $1 in the next month and Leo gain mainstream attention and go to $5. But, that's MY money. You get to do whatever you want with yours.
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i try to hold as much as I can and sell when i need to, not to take profit but out of necessity. I do this full time so I have to pay myself. however, giving the prospect of these coins it seems under intuitive to sell most of what I have earned.
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Sometimes being "forced" to sell is not necessarily a bad thing. Like I said, it takes a buy AND a sell to make money. I used to work in the mortgage industry and got some stock options that went way up. I was a HODLer. I loved my company and thought it was going to continue to thrive. Unfortunately, my car died and I absolutely HAD to buy a new one. I literally had a great chance to get a year old Chevy Trailblazer fully loaded with only 13,000 miles on it for about $5,000 under book value. Just a steal. So I sold some options and bought it for cash. I then managed to find a girl to marry and had to buy a ring and pay for the majority of the wedding. I sold the rest of my stock options to pay for that. One year later my company went out of business in the housing bubble of 2006. Stock went to $0. I sold them at $44 and $56.
Moral of the story is that you can't make money if you don't sell. Always gotta remember that second part. :-)
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Lucky you! I am sure you were happy you sold. Well, I can say for myself that crypto has indeed helped me in so many ways and even if everything comes crashing down I will still be happy so way.
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That's a very good point and something I've been thinking about as well. Especially in the recent weeks as LeoFinance seems to have a couple of Aces up their sleeve, with more cool things coming up.
I understand what you mean by selling now for $0.5 just to see the price go up to $1 right after, but $0.5 is still more than $0.. That's basically why I want to figure out a good approach going forward. Powering down a certain percentage on a weekly basis, holding/cashing out a certain percentage of liquid tokens or whatever.
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Yes, having a plan and sticking to it is definitely the way to go. In the crypto world there will always be another opportunity. Read my reply to the post above (too long to write again lol ). I get the need to sell. Like I said, for MY money, I'm going to HODL for at least a few weeks. But we're talking about YOUR money. You gotta do what you gotta do.
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