# When is it time to leave crypto?



## Begemot (Sep 24, 2019)

Just a question for the whales and day traders here:
I'm wondering whether I should just cash out. I've never had a big spread and only used pleasure money but I've seen a lot of 2017 coins just fall by the wayside and wonder if I'm not too emotional and HODLing out of delusion.

About  20 percent of my portfolio dropped last night and part of me wonders whether I shouldn't just take the money out and spend it on beer. I've got a mix of coins like Fantom, VSYS, kucoin shares, telcoin, Toko...

But the coin I've been obsessed about is powerledger (POWR). Even after its ATH after its ICO I still believe in it for ideological reasons and part of me thinks I'm just holding it out of spite.

Should I just use a trading bot and give up my pride?


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## NOT Sword Fighter Super (Sep 24, 2019)

Please explain the holding on to a crypto for ideological reasons to me.


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## Nobunaga (Sep 24, 2019)

NOT Sword Fighter Super said:


> Please explain the holding on to a crypto for ideological reasons to me.


Funds
Are
Safu


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## Creep3r (Sep 24, 2019)

>implying you can leave crypto
You're here forever.







Also go all in on chainlink.


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## Begemot (Sep 24, 2019)

GeneralFriendliness said:


> >implying you can leave crypto
> You're here forever.
> View attachment 947908
> View attachment 947906
> Also go all in on chainlink.


If it was on my exchange I would, partly for meme reasons and partly because I kind of believe in its applications as a service.



NOT Sword Fighter Super said:


> Please explain the holding on to a crypto for ideological reasons to me.


Powerledger POWR is a cryptocurrency that is trying to make electricity units from solar power a fungible unit. It's based in Australia and solar panels on rooftops are a standard thing here. It allows you to trade units of electricity with whomever instead of just a random price one received from their service provider.


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## Recoil (Sep 24, 2019)

Learn to flip real estate, get a license and never sully your hands with this bullshit again


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## NOT Sword Fighter Super (Sep 24, 2019)

Begemot said:


> If it was on my exchange I would, partly for meme reasons and partly because I kind of believe in its applications as a service.
> 
> 
> Powerledger POWR is a cryptocurrency that is trying to make electricity units from solar power a fungible unit. It's based in Australia and solar panels on rooftops are a standard thing here. It allows you to trade units of electricity with whomever instead of just a random price one received from their service provider.


This is weird and cool.


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## Begemot (Sep 24, 2019)

NOT Sword Fighter Super said:


> This is weird and cool.


It is. I believe in the theory of it. Some part of me just wants to class this as dead money but I'm getting around 11 percent on my superannuation fund (pension fund) and a part of me kind of thinks I could put money into it.

It just feels like I suck at picking winners in crypto. I like stuff like Fantom but don't know if I should just HODL long term.


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## NOT Sword Fighter Super (Sep 24, 2019)

Begemot said:


> It is. I believe in the theory of it. Some part of me just wants to class this as dead money but I'm getting around 11 percent on my superannuation fund (pension fu d) and a part of me kind of thinks I could put money into it.
> 
> It just feels like I suck at picking winners in crypto. I like stuff like Fantom but don't know if I should just HODL long term.


That's what seems to be the problem with crypto and why government-backed money is so attractive.


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## Foxxo (Sep 25, 2019)

Just buy gold lol


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## DumbDude42 (Sep 25, 2019)

you dont get to "leave" crypto
once you're in, you hodl forever


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## Skeletor (Sep 26, 2019)

Pressing F to pay respect to Bitcoin.


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## Arm Pit Cream (Sep 26, 2019)

YAMERO


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## Samoyed (Sep 26, 2019)

Arm Pit Cream said:


> YAMERO
> View attachment 949731


This reminds me of one dude I knew who invested a lot of his money into crypto. Sucks to be him now I guess


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## Begemot (Sep 27, 2019)

Samoyed said:


> This reminds me of one dude I knew who invested a lot of his money into crypto. Sucks to be him now I guess


I'm pretty sure the golden rule is don't put in money you can't afford to lose.


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## Takodachi (Sep 27, 2019)

2 years ago.
That was the best moment to leave crypto.


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## Angry Shoes (Sep 27, 2019)

Very few people seem like they actually believe in it currently. They're just trying to make a buck and leave some other unlucky bastard holding the bag when they sell.



Promestein said:


> 2 years ago.
> That was the best moment to leave crypto.



Hard pill to swallow, but 100% true.


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## Least Concern (Sep 27, 2019)

I feel like "investing for profit" and "buying/hodling a coin for ideological reasons" are different goals which will typically require different decisions.


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## Lvl.420 Space_Weed (Sep 27, 2019)

When you don't have to use it to get the good blotters from an old commune in Oregon.

Let's be real it has been and always will be a narco currency.


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## Duke Nukem (Sep 28, 2019)

Crypto just sounds like another "get rich quick without having to do any work" scheme. I've seen Bitcoin being bought/sold on a certain trading program, and it rises and falls spectacularly.


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## Sir Wesley Tailpipe (Sep 28, 2019)

The time to get out of crypto was before you got in.


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## BillionBisonBucks (Sep 28, 2019)

The best time to get out is immediately before the cabal managing the price starts another dump cycle.


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## Path Started (Sep 29, 2019)

What would someone with a load of bitcoin do though, if you are a holder who has held since the start and had a considerable amount.

To me it seems pretty difficult to just jump out of bitcoin when you have a load of it, given trading on platforms have limits, and you have to worry about tax in your own counties.  Like capital gains tax.

I find it hard to understand how it is capital gains tax because basically its just a currency and if you swap it for whatever it's worth now, that just happens to be the price it is, why is it a profit?

I've been wanting to get out for ages, but I've only done little bits over the years.

Most trades I've done have been profitable but I just know the second I sell it would jump in price, I think I have about 6/10 success rate in my trades, but I've not done many, and the exchange I'm on has fees now which is shitty. I want to find a exchange with no fees but it seems like they don't exist anymore.

I just wish I followed the news more because I seem to always miss the signs, I'm not a day trader but happen to have some bitcoin.... and I guess bitcoin cash and the others but I never got round to splitting it up.. Suppose I should.


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## twozero (Sep 30, 2019)

Path Started said:


> I've been wanting to get out for ages, but I've only done little bits over the years.


Could always try and exchange some for cash via LocalBitcoins (or w.e. the cash equivalent is). Would suggest doing it somewhere very public though so you don't get ganked.


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## Begemot (Sep 30, 2019)

twozero said:


> Could always try and exchange some for cash via LocalBitcoins (or w.e. the cash equivalent is). Would suggest doing it somewhere very public though so you don't get ganked.


I've been considering it but I might leave it there as a bet upon coins I still have plaintive hope in like Fantom & Powerledger.


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## Terrorist (Oct 3, 2019)

If you haven't, right fucking now!


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## Defunct Mecha (Oct 3, 2019)

Get a gun and start robbing.


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## Begemot (Oct 3, 2019)

Defunct Mecha said:


> Get a gun and start robbing.


I think Sergey Nazarov is doing that with every 700 thousand dump in his exit scam, kid.


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## ⠠⠠⠅⠑⠋⠋⠁⠇⠎ ⠠⠠⠊⠎ ⠠⠠⠁ ⠠⠠⠋⠁⠛ (Oct 4, 2019)

twozero said:


> Could always try and exchange some for cash via LocalBitcoins (or w.e. the cash equivalent is). Would suggest doing it somewhere very public though so you don't get ganked.


Part of the problem for guys in the States, if they have that BTC on a US exchange account or a foreign one that reports trades to the FTC/IRS, even if they just pull it out into a proper wallet that is likely going to be picked up on by the federal scum in the reporting that they get. They might flag that as an event that needs explaining on your tax return, or alternatively just use some software to see if there is a transfer out of that wallet and hassle you when that happens. Gay



Lvl.420 Space_Weed said:


> When you don't have to use it to get the good blotters from an old commune in Oregon.
> 
> Let's be real it has been and always will be a narco currency.


Thanks, drug addicts, for propping up the crypto market for people who need to use it for other sorts of transactions.


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## Henry Wyatt (Oct 4, 2019)

when ever /biz/ says its a good idea you invest, you should sell asap


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## Lvl.420 Space_Weed (Oct 6, 2019)

3119967d0c said:


> Thanks, drug addicts, for propping up the crypto market for people who need to use it for other sorts of transactions.



I'll thank you for making the spare coin I had from buying dimes in H.S pay my student debt. Best gamble is one you never knew you took.


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## Hollywood Hulk Hogan (Oct 6, 2019)

Investing in crypto for getting rich is a pyramid scheme. Ask yourself this: what value does this coin have over other coins? Will this coin ever be used for buying/selling over bitcoin?

The answer is 99.99999% of the time "this coin has no value over other coins other than people might start buying it for some reason. this coin has no advantage over bitcoin". So investing in it to gain money is fucking stupid. Put your money in a stock index fund instead.


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## AverageAnimeWatcher (Oct 7, 2019)

Honestly, with the rise of electronic wallets, bitcoin and the others failed to replace real money as currency or stopping banks. I mean people that want anonymity do use it, but let's be real, most people just want to buy low and to sell it at high prices. Sounds familiar?

In other words, what you really want is to invest in stocks, and that's where you should be spending your money.  There was a window of opportunity when the prices skyrocketed and a lot of people that sold high and got rich due to an e-gold rush, but now people know better so I doubt it will happen again at that rate.


In both, you can lose all your money and fall to a  scam. But, at least with stocks, you have the right to be informed about whatever a publicly-traded company traded company does before you buy and maybe even sue. With bitcoin, the system is designed for anonymity so you're alone if you get screwed.


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## Begemot (Oct 7, 2019)

Thanks for the advice guys. I might keep the money there just before getting it out is looking rather tiresome. There's only 1 Bitcoin ATM in the city that allows withdrawals and when I went there I wasn't sure it was still there.


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## Particle Bored (Oct 9, 2019)




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## Floop (Oct 21, 2019)

I don’t know much about bitcoin but all I know is that you fuckers raised the prices of GPUs


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## MrTickles (Oct 22, 2019)

Every time Bitcoin has 'crashed' it has crashed to a new 'high' as the video alludes to. 

10 year long pyramid scheme, and still going up.  Hmmmmmmm


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## HunterHearstHelmsley (Oct 23, 2019)

Hollywood Hulk Hogan said:


> The answer is 99.99999% of the time "this coin has no value over other coins other than people might start buying it for some reason. this coin has no advantage over bitcoin". So investing in it to gain money is fucking stupid. Put your money in a stock index fund instead.



It’s true that most coins are intrinsically worthless and just worth anything through hype but investing in a stock index fund to gain money is fucking stupid. It’s gonna take a decade to double your money at 7%. 

All of the other good investment opportunities are impossible for small amounts of capital or simply legislated away from poorfags in the west. Crypto is the only legal investment opportunities you have with the possibility to 10x your money in a year.


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## Hollywood Hulk Hogan (Oct 23, 2019)

Charls did nothing wrong said:


> It’s true that most coins are intrinsically worthless and just worth anything through hype but investing in a stock index fund to gain money is fucking stupid. It’s gonna take a decade to double your money at 7%.
> 
> All of the other good investment opportunities are impossible for small amounts of capital or simply legislated away from poorfags in the west. Crypto is the only legal investment opportunities you have with the possibility to 10x your money in a year.



Right but they also have a 95% chance of losing everything. Why the hell would you take that chance?



MrTickles said:


> Every time Bitcoin has 'crashed' it has crashed to a new 'high' as the video alludes to.
> 
> 10 year long pyramid scheme, and still going up.  Hmmmmmmm



Bitcoin hasn't gotten back to its $19k high from two years ago.


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## Skeletor (Oct 23, 2019)

F


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## MrTickles (Oct 23, 2019)

Hollywood Hulk Hogan said:


> Right but they also have a 95% chance of losing everything. Why the hell would you take that chance?
> 
> 
> 
> Bitcoin hasn't gotten back to its $19k high from two years ago.



It also hasn't crashed to its low of 3 years ago.


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## HunterHearstHelmsley (Oct 23, 2019)

Hollywood Hulk Hogan said:


> Right but they also have a 95% chance of losing everything. Why the hell would you take that chance?


if you do the bare minimum of research into what you’re buying instead of just buying because “it already 3x and for sure it’s going to pump more” you’re not losing out on 19/20 buys.


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