Convert or HODL? - page 2. | Bitcointalksearch.org

Bezobraznike

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Quote from: pixie85 on March 23, 2020, 02:19:51 PM

Quote from: Wysi on March 09, 2020, 05:12:56 PM

After recent dump is it still safe to hodl on to our existing bitcoin or convert it to USDT? I have just converted my bitcoin into USDT and I will be monitoring the market closely with multiple reminders to buy back when the value starts increasing so that I don't use my existing balance and eventually buyback more than I have right now? How many of you agree with my idea? Kindly share your suggestions.

Great idea, you made the right choice. Wink

You've converted independent money that nobody can take from you (Bitcoin) into worthless fake USDt that isn't even backed 1:1 by USD but is trying to make people think that it is. You have effectively changed digital gold to an IOU and on top of that you did it after a major dump orchestrated by Bitmex and some other leveraged trading exchanges.

Pixie85 you made a clear point here. Many people don't understand the true power of Bitcoin, and I must add some other
alt-coins. There is more behind crypto-currencies than just a dollar value, but many don't see that. They just think how much
dollars they can make.
I didn't sell anything! My portfolio is down a lot, but I don't care, I think Bitcoin is the future. Some people make a difference
between centralized and decentralized systems, and with time there will be more of us who understand it!

pixie85

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Quote from: Wysi on March 09, 2020, 05:12:56 PM

After recent dump is it still safe to hodl on to our existing bitcoin or convert it to USDT? I have just converted my bitcoin into USDT and I will be monitoring the market closely with multiple reminders to buy back when the value starts increasing so that I don't use my existing balance and eventually buyback more than I have right now? How many of you agree with my idea? Kindly share your suggestions.

Great idea, you made the right choice. Wink

You've converted independent money that nobody can take from you (Bitcoin) into worthless fake USDt that isn't even backed 1:1 by USD but is trying to make people think that it is. You have effectively changed digital gold to an IOU and on top of that you did it after a major dump orchestrated by Bitmex and some other leveraged trading exchanges.

goinmerry

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Quote from: Salamstar on March 23, 2020, 01:37:27 PM

I fear that if I transfer my balance from bitcoin to digital dollar (USDT), I will not have a new opportunity to buy bitcoin from lower prices because I see that bitcoin is currently fluctuating in a narrow field and then either up or (by a small percentage) to the bottom. I currently prefer to HOLD bitcoin and I'm waiting for a good buy or sell signal.

You can have some tests if you have guts to put some percentage on it on buying USDT. In that way, you will have a view on what will happen if you do that in the current situation. The always and the most recommendation you will see is to just hold bitcoin no matter what but you are free to test strategies if you think what's the best thing to do.

Converting or holding is really a tough question that everyone is facing whatever the trend is. But if you are not sure about what to do, then better hold to death and learn to accept anything that will happen.

Salamstar

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I fear that if I transfer my balance from bitcoin to digital dollar (USDT), I will not have a new opportunity to buy bitcoin from lower prices because I see that bitcoin is currently fluctuating in a narrow field and then either up or (by a small percentage) to the bottom. I currently prefer to HOLD bitcoin and I'm waiting for a good buy or sell signal.

bearexin

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Usdt has been a thing of beauty lately even tho I hate both bitfinex and tether company, I tried to change it to regular fiat meanwhile as well and got some of it, I rather be in fiat right now then crypto honestly and just watch. I wasn't thinking like this just a week ago, things have escalated like crazy and now it is looking very very dangerous so I am definitely not doing anything at all with crypto.

I will get back in, and I am just waiting but for now it is looking not so well so I am just going to convert and wait, and I know I have said the opposite for a long time and I know I have been a great bull all the time but today is a different day, today is a global epidemic (or pandemic or whatever) day and I doubt I can really keep this up honestly.

Farma

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just a price increase, but again a decline. although it doesn't reach the price below $ 6k anymore, but the increase in price from $ 5800 to $ 6200 is a very good thing for now. I honestly think that this increase will not stop before reaching $ 7k, but it seems that the decline also occurred to cause the price of bitcoin to stabilize in the range of $ 6.2k. however, I prioritize holding back now, rather than selling the assets I have.

Savemore

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Quote from: samcrypto on March 22, 2020, 08:32:16 AM

Quote from: Wilhelm on March 17, 2020, 07:56:49 AM

HODL. I'm down too and I know it will rebound. Not my first dip...
This full collapse of the stock market has only brought bitcoin down to $5k...
Think about how much bitcoin has withstood. This is yet another test that proves how good bitcoin is.

This is also not my first time to experience a big dump and I have to stat and trust the system in order for me not to loss big. Yes, bitcoin will recover and I know bitcoin will prove again to become the best online currency and that is a best reason to hold on it. Every market are collapsing and dumping, but in time it will recover and I’m sure bitcoin will become more big in the future.

But sometimes letting go is a good strategy in order to protect our capital. Before the price breakdown in its major resistance, I managed to let go it because I know that I will suffer more if I will continue to hold it. But it is just my pure opinion, we should know how to cut loss because it is part of risk management where it can develop discipline.

samcrypto

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Quote from: Wilhelm on March 17, 2020, 07:56:49 AM

HODL. I'm down too and I know it will rebound. Not my first dip...
This full collapse of the stock market has only brought bitcoin down to $5k...
Think about how much bitcoin has withstood. This is yet another test that proves how good bitcoin is.

This is also not my first time to experience a big dump and I have to stat and trust the system in order for me not to loss big. Yes, bitcoin will recover and I know bitcoin will prove again to become the best online currency and that is a best reason to hold on it. Every market are collapsing and dumping, but in time it will recover and I’m sure bitcoin will become more big in the future.

Yamifoud

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Quote from: Smitty Werben Man Jensen on March 21, 2020, 05:56:49 PM

difficult choice if you do not give a stop lose to the coins you trade, if you have lost $ 3000 in a day because the price of bitcoin is down from $ 9000 to $ 6000 even to $ 3000 then it is better my advice is HOLD !, than you lose your money, wait until the price can return to a minimum of $ 8500 or $ 9,000 you can sell it and your capital is safe

Yeah, the hold could help to save some but somehow some people never patient enough to wait than to sell. They absolutely suffer the consequences and then put others to blame because someone says to buy. That is why we should have to be clear that investing Bitcoin can't guarantee to gain profit coz the market never works as what we want to be. Just like it happens by now, it seems so surprising and makes a lot of people struggle difficulties and fall into panic selling.

Smitty Werben Man Jensen

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difficult choice if you do not give a stop lose to the coins you trade, if you have lost $ 3000 in a day because the price of bitcoin is down from $ 9000 to $ 6000 even to $ 3000 then it is better my advice is HOLD !, than you lose your money, wait until the price can return to a minimum of $ 8500 or $ 9,000 you can sell it and your capital is safe

Wind_FURY

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Quote from: fabiorem on March 17, 2020, 04:27:20 PM

Quote from: Wind_FURY on March 17, 2020, 06:12:32 AM

OP, "just HODL", as adviced by many, is incomplete. You should "just HODL, AND BUY MORE". Research "dollar cost averaging" as part of your investment strategy. With Bitcoin, you will end a winner. With HyperBitcoinization,

Empty propaganda,

It's a meme.

Quote

Sell it, OP.

Sell it and what? Buy again when the bull start coming back? That's good advice if you want to buy high to sell low. Hahaha.

OP, listen to him, sell it, and come back to this post 5 years from now. Cool

fabiorem

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Quote from: Wind_FURY on March 17, 2020, 06:12:32 AM

OP, "just HODL", as adviced by many, is incomplete. You should "just HODL, AND BUY MORE". Research "dollar cost averaging" as part of your investment strategy. With Bitcoin, you will end a winner. With HyperBitcoinization,

Empty propaganda, devoid of meaning. This will never happen. Bitcoin is already 26 months in bear mode, with a 2000% leverage derivatives market gambling against its price. Hodler gonna hodl for 800 years with this promise of future gains which will never come. Its like those evangelical churches of the last days which preaches the coming of the messiah.

Bitcoin is not accepted by merchants, not even Steam and PayPal accepts it anymore, due to its 90% drops which happens in a matter of minutes. And cant shield the investor from financial crisis, as the current pandemic crisis showed. Useless as a currency, useless as a store of value, we will see 10k only in six years after its failure to deliver value to its holders. Its the time the hodler cult will need to convince people to buy again.

Sell it, OP.

Wysi

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Quote from: Wilhelm on March 17, 2020, 07:56:49 AM

HODL. I'm down too and I know it will rebound. Not my first dip...
This full collapse of the stock market has only brought bitcoin down to $5k...
Think about how much bitcoin has withstood. This is yet another test that proves how good bitcoin is.

True, Bitcoin will bounce back and as you have mentioned dit just shows how strong Bitcoin stands against a crisis which has brought world's economy to a standstill. It will hardly be matter of couple of months and Bitcoin will be back in track as usual. I tried my best not to covert it into stable coin but I have to do it with due to my needs.

bitbunnny

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No matter the price dump my suggestion is to hold. To my opinion this is a temporary situation caused by different factors and price will recover. It's hard to tell for how long it will last and what the final outcome will be but sooner or later price will recover.
So try not to sell unless you really need too and see that as an opportunity to buy more coins to be ready for the profit in the future.

hahay

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Will continue to hold it related to this problem, buy more when prices fall that depends on yourself because even if you choose to keep holding, but there is no guarantee that you will buy more because there will always be worries even though you are confident to keep holding.

Wilhelm

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HODL. I'm down too and I know it will rebound. Not my first dip...
This full collapse of the stock market has only brought bitcoin down to $5k...
Think about how much bitcoin has withstood. This is yet another test that proves how good bitcoin is.

Wind_FURY

legendary

Activity: 2898

Merit: 1823

OP, "just HODL", as adviced by many, is incomplete. You should "just HODL, AND BUY MORE". Research "dollar cost averaging" as part of your investment strategy. With Bitcoin, you will end a winner. With HyperBitcoinization,

Farma

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Quote from: Kasabus on March 12, 2020, 07:18:05 AM

There is a major dump on bitcoin, so I guess it's time to convert now so we will not face another possible loses.
With the way the price is going, this seems like the market could still go down, people panic about the corono virus and this is a serious problem that will take time to solve, so better make a wise decision, if it will dump even more, you'll be safe and you can start accumulating also.

I see that crypto that is safe today is USDT. some people turn their assets into USDT to wait for the moment to buyback. but, so far, I have not changed my assets because I think that recovery will also happen suddenly. however, many people recommend holding back. maybe changing this time will be our profit when prices fall back, but it can be a loss when prices go back up.
The price that went down too far made it very difficult for me to make a decision.

ScamViruS

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Quote from: Wysi on March 09, 2020, 05:12:56 PM

After recent dump is it still safe to hodl on to our existing bitcoin or convert it to USDT? I have just converted my bitcoin into USDT and I will be monitoring the market closely with multiple reminders to buy back when the value starts increasing so that I don't use my existing balance and eventually buyback more than I have right now? How many of you agree with my idea? Kindly share your suggestions.

It all depends on you, how do you feel safe. If you have good knowledge of trading you can convert. However, I prefer to HODL. Because now the market situation very confusing no one know how to react market in the coming days. So holding on at this time seems to be a good option.

Kelvinid

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win lambo...

Quote from: Smitty Werben Man Jensen on March 14, 2020, 07:44:36 AM

Quote from: Wysi on March 09, 2020, 05:12:56 PM

After recent dump is it still safe to hodl on to our existing bitcoin or convert it to USDT? I have just converted my bitcoin into USDT and I will be monitoring the market closely with multiple reminders to buy back when the value starts increasing so that I don't use my existing balance and eventually buyback more than I have right now? How many of you agree with my idea? Kindly share your suggestions.

if you want to find safe it is better to convert to USDT or other stable coins, currently Bitcoin is still undergoing consolidation, and charts show a bearish flag pattern, all coins show the same pattern, Bitcoin, Ethereum, Waves I see exactly in the 1h time frame

That would be a smart thing to do but the others think it negatively coz it only helps the market to dump. Well, we are bringing our own life and our investment, if this could help to prevent from losing, why we shouldn't have. And to be honest, I'm not a kind of strong holder and I put in my mind that once I gain already, I have no doubt also to sell it then wait for the price to drop and buy back again. This what I usually do and I feel it was effective, and I believe also that the others might make this thing as well.

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