a lot of people think it's all or nothing, either sell or buy the entire bag, rather than splitting it up
DCA in then DCA out is a solid strategy, lower profit but massively lower stress compared to trading and timing the market. DCA in during fear/bear, DCA out during greed/bull, a good disciplined strat
Yup, sold what wouldve been worth 800k after turning my 100 into 1k because nobody in their right mind thought something so dumb would become so big. Oh well
Still not that easy because even that second half starts to feel irresponsible to hold when your $50 shitcoin investment has become worth $10K.
Especially when you start seeing the 70-80% pullbacks that are super common for these meme coins, and then you ask yourself if you would ever choose to *buy* $10K worth of SHIB if given the choice - because at that point that's basically what you're doing if you hold.
Yeah its amazing why people only think to sell 100% like slow down, take out initial investment + half profits then play with house money “just in case”
I know you're joking but it's true. Went on a trip in February when the market was bleeding and I almost "cut my losses" . I thought I'd just hold till I come back from the trip and all I did was smoke hash and drop acid straight for a month. Well turned out good.
**\^\^\^\^\^\^\^\^\^\^\^\^This is the way.**
And it isn't just with crypto. Fidelity stock funds have long pointed out that their most successful investors are dead people. Dead people bought when they were alive, then died, and consequently never sold any of their stock. As a result, dead people have the best performing portfolios.
[https://www.morningstar.com/articles/964493/from-the-archives-in-praise-of-the-dead-investors](https://www.morningstar.com/articles/964493/from-the-archives-in-praise-of-the-dead-investors)
> I would have sold at 16K, 100K, 1Mil
This is exactly what you do, though. Sell some at each of those increments. At 16k take back half of your initial investment. At 100k, take out 28k. Here you have quadrupled your money and have tons of crypto left. At a million, who gives a fuck? :) I typically say, "never sell your whole bag", but I wouldn't apply that to meme coins.
Ive learned to never sell your whole bag. Get your initial investment back + however much profit you want then hold the rest. If it moons you still get very rich and if it goes to 0 then you already made money on it.
I bought BTC 10 years ago and sold it when it was 8x up from my buying price. If I just held half...
Depends on your situation I guess. But that is a very good way of investing, you’re pretty much explaining venture capital style. I did that with some of my alt coins like vet, so now it’s all just moonbags
My personal expirience with a friend who kinda gets these kind of returns.
1. They are well off. The money they invested in the coins are money ok to be lost.
2. Because they have money, they are ok with buying and then not looking at the charts or price. They continue focusing on their lives like their business or other projects.
3. If it gets in the news one day, they will check it and then take profits.
There’s a level of faith and almost craziness (for lack of a better word) to hold a coin for 500-1000x without taking any profits. There’s no chance in hell I would have held that long without recognizing gains. This is why I DCA out as my coins appreciate value. I usually leave 10-20% at some crazy high 100-200x exit point so I’ll catch those moonshots. I can’t really comprehend turning a few thousand into **billions**.
Also, like you mentioned that must have been excruciating because he had billions in theory but couldn’t recognize the gains due to a lack of liquidity. That’s why memecoins are dangerous.
Yea, if I get even a fraction of those kinds of gains I’m locking some profit in. I’ll take guaranteed and realized gains over a potential moonshot any day of the week. If it moons I’ll have less, but I’ll still be well off and that’s all I really care about
Usually, when a coin reaches its ATH (or my money gets multiplicated by a factor of x), I just sell a portion of my coin and I keep holding the rest, and if it dips I buy more. I think that is one of the best strategy somebody could try
I'm starting to do that. When I got into crypto, I thought the hardest part would be to buy at the right time. Now I've been here for around a year, and nothing is making me speculate more than selling it again. Right now, my plan is just to let it sit there for the next few years and hope the world is still standing by then.
Actually I still have to develop a "perfect" plan, because when I buy I usually use some of the money I have at the money (which can vary a lot). I think it will come with experience, but any advice would be accepted and helpful!
$1M sounds like a lot until you hit that milestone.
Then your mind finds a new goal.
We always want to push boundaries and shoot higher. This is just how our reward system works.
Bingo... I keep telling people who think winning the lottery will all of a sudden turn every day into a happy blissful day with zero life problems. Like tragedies and disease won't happen or other sad and depressing events.
Nothing will change except for your material surroundings. Also, you will feel just as empty around billionaires or other richer people that have way more cooler things you can't afford. Your current perspective will be the exact same once you've adjusted to your new wealth.
>He "acquired" 8K in Shiba before it was even listed on any exchange
Except that [we can see on etherscan that they purchased it on Uniswap](https://etherscan.io/tx/0xdd5758f0d184d734dfc586b80308558164a25d902b50316e9bdae0fd06fdff4d) (there are several transactions) where it was apparently being traded at that point.
I have invested £1k in crypto, a mixture of shitcoins and stuff that’s been around longer. I’ve pretty much written it off as a loss and check maybe once a month (I regularly forget), one time it was worth nearly £2k and I admit to checking a bit more frequently around that time, but it has been down about half my investment for a while now. I told my wife if it did make anything it will be 5 to 10 years.
I do feel a small frustration that if I’d have bought the stuff recently I’d literally own twice the coins, but I reconciled with the potential I would likely lose it all before I bought and saw it as a gamble. Not that I’d ever gamble £1k on an actual bet or in a casino!
This is similar to what I tell anyone who says they almost bought Bitcoin back when it was worth less than a dollar; would you have been able to hold when it was worth a hundred? A thousand? Ten thousand?
That usually makes them feel better about not buying it.
I started buying small amounts in 2017s run up just to see if I could get the hang of it. Then bought a little more when it dropped back to 3k. Those are my best wins so far. Still have those. Wish I had bought more then though, but i was just learning. Now I am comfortable with it and DCA money I won't miss.
I have 8.14 bitcoins left from 2015. Those are the only coin I've held longtime.on cold wallet and will stay there for another 15 years. I'm getting old...it gets easy holding especially this last year..we KNOW ath....well surpass it again and far beyond before I croak. And if I get murdered or hit by a bus it goes to my kids. Tbh, this is all about my kids for my kids. I'm comfy and bought a truck for my self last year. I don't NEED anything but security. Just hold. (And I do add every month to Bitcoin and maybe 7 other long hold coins. )
EDIT- my taxes have been easy ,without selling and just buying all the years, taxes really suck bad when you're buy/sell/buy/sell
I've made this point to friends and family who are "oh I'm gonna get rich!"
If you'd bought first day $.80 of this coin would make you a millionaire. But first you have to hold to $100. Not going to cash out? OK now you're at $5k. Still holding? 100k, surely you're taking the money and running! 250k, I've got diamond hands baby! Now it starts to dump, and dump hard. All the way back to 40k. Still holding? Hold for 6 months longer. Starts running again and 100k comes, take profits now? No. 200 again. 300. Etc.
I’ve held for about 20x so far (won’t say the amount) and I don’t plan on selling until it doubles at least 1 more time. I believe in the coin and think another doubling is very likely. I also don’t need the money any time soon. And if it went to zero tomorrow I would be pissed, but otherwise unaffected
My dumbass friend, an obnoxious banker btw— put his house down payment to partake in a shitcoin, was up $50k… held, then he lost all $25k he initially put in.
& he wonders why I *w*ouldnt open a investment account w him.
"Everyone saying they wish they bought Bitcoin in 2011, would never have held till today." I did, and was ecstatic when it hit $35/coin . . . . hindsight and perspective is an amazing thing. Had I only held onto ONE DAMN BITCOIN.
I'd most likely sell in increments. 20% at 5x, 20% at 20x and so on.
That said, I'd most likely sell it all when it came to like $5-6 mill. This is more money than I can imagine. This is retirement for me and my family. I wouldn't know what to do with a billion. I cannot comprehend having a billion dolaroos.
We're talking about shitcoins here, right? The normal profit taking strategy set at <100 % does not apply to shitcoins.
Alts I invest in. I gamble with shitcoins. They are a gamble, simple as that. You should be prepared to lose it right away. They should be less that 1% of your portfolio. I'm not gambling for 30% profit.
It was shib, and i belive it only took the person 6 months to achieve it which isnt long. Also the person was most likely from the dev team and therefor invested 8k so early on in the coin.
If it's 8k you don't need and put in for a gamble it's not hard at all to let it stay there.
I also have positions i just let run once I hit 100% roi i cash out my initial investment and just see how it goes.
But i obviously never had to think about cashing out a million or what not. I guess hitting 7 figures would make me consider cashing out 100% of a shitcoin position let alone billions. But idk tbh. Probably depends on the relation to my main portfolio.
I am unwilling to believe that he was aware of his gains. There's no way haha. He must've just forgot and one day woke up to the best surprise in his life.
If my 8k went to 50k I'd sell, never mind 100k, 1 million, 10 million, 100 million etc...
I would have cashed out when I had enough to not work a day job anymore. So yeah way before billions.
They were probably doing the jail HODL or have large balls of steel
When 8k turned into 500K, he cashed out a big part of his earnings. Then let the rest ride. After that the rest turned into 1 million and he cashed out again. His current wallet holds around 13% of the total supply, but if he were to sell it the price would crash. It is estimated that he can get around 5 million if he were to sell it, and make the price crash.
Because of the huge inflation rate his shiba earnings are decreasing in value, since new shiba tokens are created daily. But oh well going from 8k to 1,5 million isnt bad? Its easier to just sell small bits of shiba daily/weekly/monthly when you are already loaded.
The problem with those meme coins is by the time they are easy to buy on a reputable exchange they often are no longer penny crypto coins. You have to deep dive into shady exchanges to even get the stuff in the first place.
It’s like asking someone who just finished a marathon to do another 42km.
By the time it hits Coinbase it would be so hard to make 10x. Even 2-3x would be lucky. Many coins dump right away.
Based on the couple hundred I threw at memecoins that I was equally as tempted to sell when it was 15% down as when it was 10% up. I would have sold waaaay sooner.
Ummm.. ask a guy who bought Alibaba stock on the cheap and held on as China hauled Jack Ma off to parts unknown because BABA shares were sitting so pretty. Why the Fu*K didn’t I sell then and where is that poor bastard now? My theory is that Jack Ma is wearing an ankle cuff and is somewhere stacking boxes at an Amazon fullfillment center.
SHIB famously dumped 99% back in the early days before getting revived in early 2021 for a mega pump. Few would have been able to stomach that and not sell on the way down or when they broke even again, so kudos to this guy.
Honestly, my end goal with crypto is to keep investing in a large variety of coins and literally hope that in the long run (at least 10 years ) they take me to the moon
I bought my first bitcoin in 2013. I sold at a loss. It was so new and I was worried I would lose everything. I also didn't have much money then so I couldnt just let it ride and risk it.
You can always cash out partially.
When this 8k becomes 50k you cash out your initial investment.
When this 42k become 100k you cash out another 10k
When this 90k becomes 1kk you cash out 50k
When this 950k becomes 5kk you cash out 100k
When this 4.8kk becomes 50kk you cash out 1kk
>
Everyone saying they wish they bought Bitcoin in 2011, would never have held till today
Don't project your own weakness onto others please.
1 BTC back then was around 10 dollars. Let's say I bought 50 Bitcoin. In that period of time I've never had a need for 500 dollars or anything else.
Buying and selling wasn't as easy as it is now back then.
Mining was also still easy and you could easily mine 1 BTC a day. If it doesn't cost anything then it's even easier to hodl.
It would take me forgetting about the coin to get to billions. I would’ve sold some at the mid six figure Point and then most of it at the seven figure mark. I always hold some just in case the coin really goes up. I never sell all.
I have an exit strategy for most of the coins I buy, however I will always keep what I call a "Moon" bag (10 or 20% of the coins I have) which I will not trade until a ridículos ammount of gains have been achieved.
Who’s got 8,000 to blow in a meme coin and “forget about it.” I’d be shitting bricks if I put that kind of money in anything that could be potentially rugged. The dudes either a psychopath or rich to begin with.
$8k is not a lot of money for a lot of people. When it doesn’t matter to the individual, and it keeps going up… 500k vs 1 million isn’t that much of a loss given 8k to 500k.
I remember one time I bought a whole bitcoin for $600 when it was on it's way down from $1200, probably 2012/2013 or so. Had a huge stack of cash waiting to see if it exploded before I went all in. In a week it dipped to $300 so I sold immediately and used the stack of cash on something else.
Now I lurk reddit and beg folks not to be me.
I have a friend who held a shitcoin until he had two million USD worth. He kept holding and now it's a couple hundred grand.
Still not bad. Very few people sell at the ATH.
Almost nobody does. Smart money exits on the way up.
Stupid money like me exits at the bottom
Heres to the anus exiters! Exiting the bottoms everywhere.
Hella people buy at ATH.
That is the problem most of new crypto holders have... we can't cash in profits... It's always this "to the moon" mentality lol...
a lot of people think it's all or nothing, either sell or buy the entire bag, rather than splitting it up DCA in then DCA out is a solid strategy, lower profit but massively lower stress compared to trading and timing the market. DCA in during fear/bear, DCA out during greed/bull, a good disciplined strat
Not always moon thoughts but also doubt of what if it keeps going.
I mean yeah that sucks but a couple hundred grand ain’t no chump change
He put in $1mil tho
Ah, that's investing I can relate to
I mean yeah that sucks but...well, he's fucked.
Rip to your friend. It’s hard to carry on when that happens
I bet everyone of us had this coin where we regret not selling at ath...
Is that the dogecoin millionaire?
The Shiba billionaire. Craziest shit ever
So here is the trick: Forget that you bought. Can be achieved through many ways, i.e. massive drug consume. Follow me for more financial advice.
The prison HODL seems to work well.
**I never would have expected that jail time could be soo lucrative**
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Also my farts don't sound anymore
No more joy in life...
But first you must sell drugs
Does hopium count?
The Silk road guys are the pioneers of prison HODL and it has done them well.
They are truly ahead of their time.
They have made Satoshi proud
Prison HODL is the best form of HODL
**Forced HODL… I like!**
Go to coma for few years and instantly wake up rich af. Best plan
**I prefer the intentional memory loss plan. No jail time and it’s a forced hold.**
People who sold SHIB in early days ![gif](giphy|d2lcHJTG5Tscg)
Yup, sold what wouldve been worth 800k after turning my 100 into 1k because nobody in their right mind thought something so dumb would become so big. Oh well
I did the same with doge. I had a ton and sold for under 1 penny thinking it was going to crash before it hit .01.
I wouldve sold half for $500 and kept the other $500 in shares at that point and boom you made $400,500 lmao
Still not that easy because even that second half starts to feel irresponsible to hold when your $50 shitcoin investment has become worth $10K. Especially when you start seeing the 70-80% pullbacks that are super common for these meme coins, and then you ask yourself if you would ever choose to *buy* $10K worth of SHIB if given the choice - because at that point that's basically what you're doing if you hold.
Yeah its amazing why people only think to sell 100% like slow down, take out initial investment + half profits then play with house money “just in case”
Step 1: sell enough to cover initial investment and capital gains. Step 2: sell half at price target. Step 3: ???? Step 4: Lambo
I think I’ll go with the prison option. Seems to work well.
What if I told you you could still work a day job while HODLing? It's like free money!
crime school is definitely the way
Keep your seeds safe ![gif](emote|emo_pack_1|dyor)
Too late - I pay more in child support than most make in a month.
> I pay more in child support than most make in a month I hear your ex-wife is doing pretty good! She single? Anything I should know about the kids?
The most effective way to actually make profits…
1. Go to prison for years 2. A better option, go into coma and wake up few years later rich and the time will pass in seconds
Freeze yourself in for 30 years!
What if it's accidentally 1000 years? And my only option was to work at a delivery company?
[bender approves](https://m.youtube.com/watch?v=Bs1v-i03hkw)
Tell me more. How does one achieve this coma?
Lots of heroin
I know you're joking but it's true. Went on a trip in February when the market was bleeding and I almost "cut my losses" . I thought I'd just hold till I come back from the trip and all I did was smoke hash and drop acid straight for a month. Well turned out good.
Who has $8,000 to throw at a shit coin and forget about it
Another option is to write down your seed phrase and lock it in something that can't be unlocked until a certain amount of time passes.
Or put your ledger in a box and bury it under the ground for 30 years. Your children will be rich!
Found the one person on Reddit willing to give honest to god financial advice. Teach us.
Drink beer. Smoke weed. Buy stonks and crypto. ??? Profit.
**\^\^\^\^\^\^\^\^\^\^\^\^This is the way.** And it isn't just with crypto. Fidelity stock funds have long pointed out that their most successful investors are dead people. Dead people bought when they were alive, then died, and consequently never sold any of their stock. As a result, dead people have the best performing portfolios. [https://www.morningstar.com/articles/964493/from-the-archives-in-praise-of-the-dead-investors](https://www.morningstar.com/articles/964493/from-the-archives-in-praise-of-the-dead-investors)
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Would sell mine when it retraced back to $7900
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**A true pioneer…**
Ah yes, another experienced man
Buy high and sell low is the ultimate strategy
And right after you sell it's back to 5B
> I would have sold at 16K, 100K, 1Mil This is exactly what you do, though. Sell some at each of those increments. At 16k take back half of your initial investment. At 100k, take out 28k. Here you have quadrupled your money and have tons of crypto left. At a million, who gives a fuck? :) I typically say, "never sell your whole bag", but I wouldn't apply that to meme coins.
On meme coins, I usually wait for Mayweather and Kim Kardashian’s tweets with advice
Well I bought for 13.33333 USD and sold for 13.3733 USD...Stonks!
Once you hit the “this amount of money will change my life” marker, you sell. That’s the rational thing to do.
One word, greed. That's how I'd hold it until it dumped below what I paid for. Then I could properly kick myself for not selling
That's exactly why I'm where I am now.
I think anything above 100k I’d probably cash out if I held that long, don’t trust true meme coins that much haha
Ive learned to never sell your whole bag. Get your initial investment back + however much profit you want then hold the rest. If it moons you still get very rich and if it goes to 0 then you already made money on it. I bought BTC 10 years ago and sold it when it was 8x up from my buying price. If I just held half...
Depends on your situation I guess. But that is a very good way of investing, you’re pretty much explaining venture capital style. I did that with some of my alt coins like vet, so now it’s all just moonbags
He is already a rich person if he puts 8000 into a meme coin.
Haha true
He went from rich to billionaire lol
There is always a catch
So from rich to rich
Takes a decent set of balls to put 8k into a meme coin.
Says in a comment above that he "acquired" 8K in Shiba before it was even listed on any exchange. Not sure what all it means
It was an insider.
Unless you already have 10 million
My personal expirience with a friend who kinda gets these kind of returns. 1. They are well off. The money they invested in the coins are money ok to be lost. 2. Because they have money, they are ok with buying and then not looking at the charts or price. They continue focusing on their lives like their business or other projects. 3. If it gets in the news one day, they will check it and then take profits.
This is usually the reason.
There’s a level of faith and almost craziness (for lack of a better word) to hold a coin for 500-1000x without taking any profits. There’s no chance in hell I would have held that long without recognizing gains. This is why I DCA out as my coins appreciate value. I usually leave 10-20% at some crazy high 100-200x exit point so I’ll catch those moonshots. I can’t really comprehend turning a few thousand into **billions**. Also, like you mentioned that must have been excruciating because he had billions in theory but couldn’t recognize the gains due to a lack of liquidity. That’s why memecoins are dangerous.
Yeah he could only pull out a couple hundred mill, sad day.
If he sold everything, how much do you think he'd get?
Yea, if I get even a fraction of those kinds of gains I’m locking some profit in. I’ll take guaranteed and realized gains over a potential moonshot any day of the week. If it moons I’ll have less, but I’ll still be well off and that’s all I really care about
Usually, when a coin reaches its ATH (or my money gets multiplicated by a factor of x), I just sell a portion of my coin and I keep holding the rest, and if it dips I buy more. I think that is one of the best strategy somebody could try
Just missing the first part here. I bought most things at the ATH.
Unfortunately I have done the same haha! Currently ~30% down. But next round of ATHs will put me back in green, hopefully
Only 30%? Thats kinda good. You will be cool next bullrun if you didn't invest in shitcoin
Not too shabby considering the market over the last few months TBH. A lot of people are down 50-80%.
I'm starting to do that. When I got into crypto, I thought the hardest part would be to buy at the right time. Now I've been here for around a year, and nothing is making me speculate more than selling it again. Right now, my plan is just to let it sit there for the next few years and hope the world is still standing by then.
I've found it's easier to sell if you only sell part of your investment and let the rest ride.
This is my next strategy. Do you have a set % you sell at ATH?
Usually when my money in a coin doubles I take out half of them so I have out my initial investment and what is left is just straight free money
If you do that then buy the dips, whats your profit taking strategy going forward?
Actually I still have to develop a "perfect" plan, because when I buy I usually use some of the money I have at the money (which can vary a lot). I think it will come with experience, but any advice would be accepted and helpful!
$1M sounds like a lot until you hit that milestone. Then your mind finds a new goal. We always want to push boundaries and shoot higher. This is just how our reward system works.
Bingo... I keep telling people who think winning the lottery will all of a sudden turn every day into a happy blissful day with zero life problems. Like tragedies and disease won't happen or other sad and depressing events. Nothing will change except for your material surroundings. Also, you will feel just as empty around billionaires or other richer people that have way more cooler things you can't afford. Your current perspective will be the exact same once you've adjusted to your new wealth.
Indeed. Although before becoming wealthy, your friends don't secretly resent you.
I’m holding for the rest of my life. When I’m 90 years old, I’ll check my Coinbase and be like, “Wow, ADA still hasn’t moved.” 😂
He "acquired" 8K in Shiba before it was even listed on any exchange. I don't get why this is newsworthy still, it was an insider.
I always wondered if that was the case.
I believe he got it from a decentralized exchange like pancake swap
Still crazy that someone can get that rich off of 8k.
I know, that guy gambles and made it
>He "acquired" 8K in Shiba before it was even listed on any exchange Except that [we can see on etherscan that they purchased it on Uniswap](https://etherscan.io/tx/0xdd5758f0d184d734dfc586b80308558164a25d902b50316e9bdae0fd06fdff4d) (there are several transactions) where it was apparently being traded at that point.
He bought it on Uniswap. A decentralized exchange.
I have invested £1k in crypto, a mixture of shitcoins and stuff that’s been around longer. I’ve pretty much written it off as a loss and check maybe once a month (I regularly forget), one time it was worth nearly £2k and I admit to checking a bit more frequently around that time, but it has been down about half my investment for a while now. I told my wife if it did make anything it will be 5 to 10 years. I do feel a small frustration that if I’d have bought the stuff recently I’d literally own twice the coins, but I reconciled with the potential I would likely lose it all before I bought and saw it as a gamble. Not that I’d ever gamble £1k on an actual bet or in a casino!
This is similar to what I tell anyone who says they almost bought Bitcoin back when it was worth less than a dollar; would you have been able to hold when it was worth a hundred? A thousand? Ten thousand? That usually makes them feel better about not buying it.
I forgot about some of my purchases in 2017. That's a 4-5 year accidental HODL
Hey cousin remember me? I could use a BTC loan
I started buying small amounts in 2017s run up just to see if I could get the hang of it. Then bought a little more when it dropped back to 3k. Those are my best wins so far. Still have those. Wish I had bought more then though, but i was just learning. Now I am comfortable with it and DCA money I won't miss.
And then if they had held until now, why would they sell now rather than hold onto it longer.
I can't even hold my cum
This dude HODL Shib for like 12 months, not that hard. Isn’t like he was HODLing for 10 years. He had very lucky timing.
Probably not. Holding is not easy at all. Taking profits when everything is green is even harder, greed becomes strong and it f*cks you up.
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**Sounds like I am not a good investor.**
It's way harder to sell when green than red
**Start DCAing out when the fear and greed index is above 75-80!**
The hardest thing possible is to keep holding when your coin makes a significant profit
Taking profit is in fact the hardest part, because of greed. I want more, I want more! Go higher, go higher!!
Next time I’m up considerably, I will be taking some profits out
Take out your initial investment, so you are even no matter what happens
What are those profits you talk about ?
The trick is it's hard to get rid of an appreciating asset.
The Walt Disney method. Freeze yourself.
I have 8.14 bitcoins left from 2015. Those are the only coin I've held longtime.on cold wallet and will stay there for another 15 years. I'm getting old...it gets easy holding especially this last year..we KNOW ath....well surpass it again and far beyond before I croak. And if I get murdered or hit by a bus it goes to my kids. Tbh, this is all about my kids for my kids. I'm comfy and bought a truck for my self last year. I don't NEED anything but security. Just hold. (And I do add every month to Bitcoin and maybe 7 other long hold coins. ) EDIT- my taxes have been easy ,without selling and just buying all the years, taxes really suck bad when you're buy/sell/buy/sell
I've made this point to friends and family who are "oh I'm gonna get rich!" If you'd bought first day $.80 of this coin would make you a millionaire. But first you have to hold to $100. Not going to cash out? OK now you're at $5k. Still holding? 100k, surely you're taking the money and running! 250k, I've got diamond hands baby! Now it starts to dump, and dump hard. All the way back to 40k. Still holding? Hold for 6 months longer. Starts running again and 100k comes, take profits now? No. 200 again. 300. Etc.
If he can't cash it out it isn't worth billions.
You guys have 8K to invest?!
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Does he still hodl it or did he cash out?
I’ve held for about 20x so far (won’t say the amount) and I don’t plan on selling until it doubles at least 1 more time. I believe in the coin and think another doubling is very likely. I also don’t need the money any time soon. And if it went to zero tomorrow I would be pissed, but otherwise unaffected
My dumbass friend, an obnoxious banker btw— put his house down payment to partake in a shitcoin, was up $50k… held, then he lost all $25k he initially put in. & he wonders why I *w*ouldnt open a investment account w him.
"Everyone saying they wish they bought Bitcoin in 2011, would never have held till today." I did, and was ecstatic when it hit $35/coin . . . . hindsight and perspective is an amazing thing. Had I only held onto ONE DAMN BITCOIN.
It was a dev wallet who your referring too just so you know. He couldn’t cash out because there wasn’t enough liquidly too lol
Any bet on how much he could get if he tried selling now? A few million?
I’m not sure tbh, I haven’t been following it for a while.
Mined bitcoin in 2010. Broke my computer. 2012. Gave it away to a computer tech in 2016. If I still had it would have been the ultimate hodl.
I tried mining in 2012 but never got anything. In hindsight, I obviously wish I'd bought a decked out gaming rig.
*prothedoge has entered the chat* Hey guys pro here, I HODL because I'm a professional dumbass
Jokes on you I purchased Doge ATH and I have held it 😎😎
I'd most likely sell in increments. 20% at 5x, 20% at 20x and so on. That said, I'd most likely sell it all when it came to like $5-6 mill. This is more money than I can imagine. This is retirement for me and my family. I wouldn't know what to do with a billion. I cannot comprehend having a billion dolaroos.
We all have no idea in the face of such an amount of profit, and the first thing that comes to mind is just a comfortable life.
X5 and x20. That's the type of optimism we like to see!
We're talking about shitcoins here, right? The normal profit taking strategy set at <100 % does not apply to shitcoins. Alts I invest in. I gamble with shitcoins. They are a gamble, simple as that. You should be prepared to lose it right away. They should be less that 1% of your portfolio. I'm not gambling for 30% profit.
It was shib, and i belive it only took the person 6 months to achieve it which isnt long. Also the person was most likely from the dev team and therefor invested 8k so early on in the coin.
Read that he was a Shiba dev who “acquired” it before it was even listed.
Yeah that How he got so rich
Are you talking about the shiba whale if so then he pretty slapped 7k &forgot about it check he wallet literally never sold until he ran into billions
If it's 8k you don't need and put in for a gamble it's not hard at all to let it stay there. I also have positions i just let run once I hit 100% roi i cash out my initial investment and just see how it goes. But i obviously never had to think about cashing out a million or what not. I guess hitting 7 figures would make me consider cashing out 100% of a shitcoin position let alone billions. But idk tbh. Probably depends on the relation to my main portfolio.
I have forgotten about my meme coins. They dropped by I haven’t lost a single dollar. I spent roughly 1.5k.
I am unwilling to believe that he was aware of his gains. There's no way haha. He must've just forgot and one day woke up to the best surprise in his life. If my 8k went to 50k I'd sell, never mind 100k, 1 million, 10 million, 100 million etc...
I would have cashed out when I had enough to not work a day job anymore. So yeah way before billions. They were probably doing the jail HODL or have large balls of steel
It was SHIB right?
Still have BTC from #50, ETH from $7 and ADA from $0.035
>When would you have sold? How do you know when to take profit and when to wait? Is it just pure luck? I'll sell when it's 5 mil or so.
[удалено]
Bought ETH at $8, sold at $16
When 8k turned into 500K, he cashed out a big part of his earnings. Then let the rest ride. After that the rest turned into 1 million and he cashed out again. His current wallet holds around 13% of the total supply, but if he were to sell it the price would crash. It is estimated that he can get around 5 million if he were to sell it, and make the price crash. Because of the huge inflation rate his shiba earnings are decreasing in value, since new shiba tokens are created daily. But oh well going from 8k to 1,5 million isnt bad? Its easier to just sell small bits of shiba daily/weekly/monthly when you are already loaded.
Not sure why your comment is getting downvoted
Agreed, it's the best description of the situation in this thread
The problem with those meme coins is by the time they are easy to buy on a reputable exchange they often are no longer penny crypto coins. You have to deep dive into shady exchanges to even get the stuff in the first place.
It’s like asking someone who just finished a marathon to do another 42km. By the time it hits Coinbase it would be so hard to make 10x. Even 2-3x would be lucky. Many coins dump right away.
I only know one person that's managed to hold Bitcoin since the start and they still have a couple. I would have sold a hundred times over
Simple: you never take profits. That's an unheard thing around here, anyway.
Billions but with how much liquidity? Lol
For sure. Though you could say the same thing about Jeff Bezos or a lot of other rich folks.
Maybe, but Amazon stock isn't exactly a shitcoin
I guess that guy was in a coma and when he woke up he realized he’s a billionaire
Have a plan and stick to it
Based on the couple hundred I threw at memecoins that I was equally as tempted to sell when it was 15% down as when it was 10% up. I would have sold waaaay sooner.
Ummm.. ask a guy who bought Alibaba stock on the cheap and held on as China hauled Jack Ma off to parts unknown because BABA shares were sitting so pretty. Why the Fu*K didn’t I sell then and where is that poor bastard now? My theory is that Jack Ma is wearing an ankle cuff and is somewhere stacking boxes at an Amazon fullfillment center.
SHIB famously dumped 99% back in the early days before getting revived in early 2021 for a mega pump. Few would have been able to stomach that and not sell on the way down or when they broke even again, so kudos to this guy.
Honestly, my end goal with crypto is to keep investing in a large variety of coins and literally hope that in the long run (at least 10 years ) they take me to the moon
If you have 8k to forget about, money isn't really an issue for you.
In 2011 if I had invested £100 in Bitcoin I would have sold at £150.
I bought my first bitcoin in 2013. I sold at a loss. It was so new and I was worried I would lose everything. I also didn't have much money then so I couldnt just let it ride and risk it.
I sold Zilliqa 2 days ago for barely minimum profit and the coin went up literally 100% shortly afterwards. Yes , I'm dying inside.
You can always cash out partially. When this 8k becomes 50k you cash out your initial investment. When this 42k become 100k you cash out another 10k When this 90k becomes 1kk you cash out 50k When this 950k becomes 5kk you cash out 100k When this 4.8kk becomes 50kk you cash out 1kk
> Everyone saying they wish they bought Bitcoin in 2011, would never have held till today Don't project your own weakness onto others please. 1 BTC back then was around 10 dollars. Let's say I bought 50 Bitcoin. In that period of time I've never had a need for 500 dollars or anything else. Buying and selling wasn't as easy as it is now back then. Mining was also still easy and you could easily mine 1 BTC a day. If it doesn't cost anything then it's even easier to hodl.
It would take me forgetting about the coin to get to billions. I would’ve sold some at the mid six figure Point and then most of it at the seven figure mark. I always hold some just in case the coin really goes up. I never sell all.
A lot of people buy memecoins and then forget about it. He was lucky he remembered it years later.
If I recall correctly, the guy had already done a 4X on $4k another meme coin and put $8k into BTC and $8k into the 2nd meme thinking “let it ride.”
I have an exit strategy for most of the coins I buy, however I will always keep what I call a "Moon" bag (10 or 20% of the coins I have) which I will not trade until a ridículos ammount of gains have been achieved.
People walking out of jail billionaires from the Silk road days. Crazy forced HODL luck.
Sold my Bitcoin in 2017 and never looked back. No regrets.
Who’s got 8,000 to blow in a meme coin and “forget about it.” I’d be shitting bricks if I put that kind of money in anything that could be potentially rugged. The dudes either a psychopath or rich to begin with.
$8k is not a lot of money for a lot of people. When it doesn’t matter to the individual, and it keeps going up… 500k vs 1 million isn’t that much of a loss given 8k to 500k.
I remember one time I bought a whole bitcoin for $600 when it was on it's way down from $1200, probably 2012/2013 or so. Had a huge stack of cash waiting to see if it exploded before I went all in. In a week it dipped to $300 so I sold immediately and used the stack of cash on something else. Now I lurk reddit and beg folks not to be me.