As you know now with cryptos becoming a trend a lot of my friends have asked me a ton of things and some of them joined the game as well. My family, watching me sitting all day long on pc is wondering what the hell i am up to.
It's not something new that i am into cryptos and my father knows that better than everyone. He knows it because he still remembers when i told him to invest in btc when it was 50$, 1000$ and $20k and each time he said no.
I also told him that we should invest in ava when it was 70 cents and now it's x6 times that. Each and every time i heard the same negative reply. I don't blame him though, it's the fear of the unknown.
Also, my mom plays a big role in that as she doesn't believe in cryptos at all so when i urge my father to invest, she is the one working behind the scenes for that final negative reply. That's my drama :P
So we had a conversation today because today i was informed that in May i join the mandatory army in Greece which will be for a 12month period. This is something every man has to do in Greece except if you decide to leave the country :P
They listened to me talking with a friend and telling him that in the next weeks i need to make a "plan" of how i will use my stake and what my next moves will be in order for me to earn something when i am away.
I will make a detailed post about that tomorrow i think because i want your opinions as well and because i wanna inform you of the situation in more detail as during May you won't see that many comments from me.
Anyway listening to that conversation they asked me what it was about and one thing led to another, saying to them that i right now i got more than $5k in cryptos alone. It's actually more than that, close to 8000$ with the current prices but i expect a drop, so let's be safe and say 5k :P.
If you got $5000 in Cryptos Why you Don't Cash out?
That was the question that my mother asked immediately and a question i keep on hearing from my friends. The answer to that question is because i actually don't want to.
It's a form of investment and knowing the crypto world and all that's happening in the communities i am in i know that the potentials are huge. I feel that if i cash out even 1k i will regret it, as that 1k maybe be worth more than 2 in a couple of months.
I didn't get to details like that or saying about staking, curating, delegating and such, which i think would be pointless but i realized the difference in our thinking.
A lot of people including my family and some friends think that if you have that amount of money, you should have it in a bank or in cash, otherwise it's "fake". They also don't think that far ahead and they want the profit right away.
I don't blame them, because they don't know how the market is and what are the potentials so in their minds they believe that someone should take the profits right away, otherwise you may lose everything or it may be proven as a scam or sorts.
I don't follow that logic though and i am in for the longterm. I hope now with the army that i will make a good plan of how to maximize my earnings even during that situation. All in all, i would cash out a tiny portion of my money if that money reached over 20k :P. That means that i got a long road ahead of me!
Did you listened to any similar questions from your close people?
What is your thinking?
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I hear the same thing day in, day out ... Crypto is fake money, it's not even money! And I'm like ... yeah right, what is the difference between crypto and the euro's on your bank account? That's virtual money too right? The difference is that I don't need a bank to get my crypto ... and no one can take my crypto as long as I have my keys safe. There is no bank that automatically debits my crypto, no bank that charges me that I have an account with them. Crypto wallets are free!
And many more ... but I don't have to tell you. Well, the thing is ... there are still so many people who don't believe in crypto, or are afraid of it in general. The unknown makes unloved.
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and from my "experience" the only way these people get it is if they see the moneyyy
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They do that thing here in Nigeria as well, we call it Nysc, national youth service corps, our drills in military camp only lasts for 3weeks, the rest of the 12 months, people are assigned to different states within the country to take up jobs.
For me, cashing out $5k cannot change my life, at most I'll spend it finish within a year or two of prudent spending, then what? I'll rather take my chances with it and invest where I can put it to work for me with a potential of it rising over time...
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ExActly if I can earn that amount why do I need to cash it out? Let that sucker run
i am on the same page. 5k in here is something that you can earn in less than year, depending on your job maybe half a year! so i am holdingggg
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don't cash out ... yet ...
wait till august and take profits 1% per week for example .
Profits are for peasants! HODL till we die!
i'll wait till next year :P
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LOL crypto is now 54% of my total net worth abs I’m still not cashing out! When you realize all you are doing is adding to your tax liability and selling into a sinking ship it’s dumb
The fiat mindset is hard to break though but when I hear sell my Bitcoin I hear do you want to buy dollars abs I don’t lol
Spend your bad money and keep your good money as long as the fiat keeps rolling into my bank account I’m not too concerned with selling! I’m only 5 years in abs so far I’ve had an average of 100% gain every year so why the fuck would I sell?
hehe i remember cashing out 500-600 euro of btc to go for vacation. That 500-600 euro of btc now would worth close to 4k. Yeah i am holding from now on :P
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LOL I sold Bitcoin once back in 2017 and I thought I was a genius look at me I made $1000 lol that was the first and last sale I ever made into fiat, since then I've just been buying
Cause I want them to be 10k
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haha fair answer :P
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I-5
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