I regret selling BTC for entering DeFi. HODLing is the way!

riiiiising

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Quote from: DatKing on May 12, 2021, 01:05:47 PM

Of course HODLing is much better than yield farming. Because those DeFi projects aren't very reliable to stake onto. You can even lose money while hoping to earn. It is the same for HODLing also but at least it is safer and much more profitable in the long run.

Staking makes only sense if you stake in a well established network that is not as volatile anymore, but even then there is a ton of risk involved. Staking in volatile coins is among the riskiest strategies you can pick.

tygeade

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Quote from: NinjaBitcoiner on February 09, 2021, 01:32:44 AM

I learned the hard way that Hodling BTC is the only way. I wanted to grow my BTC so i sold my 1BTC @32K a month ago and put that money in DeFi for yield farming in those high APY. I took some losses and some gains. Now BTC jumped 47K. If i would have just HODL all this way i would have more USDT then if i buy BTC now. Lesson i Learned: Yield farming is useless. People put so much at risk entering smart contract not to mention the daily time waste. Just HODL and you would have more more money than anyone yield farming in long run.

They all works, that it didn't work for you doesn't mean it wasn't working. This is just not the time for DEFI, there was a time they were all bubbling and a lot of people who invested in them were making good profit from their investment, but after everything, investing in Bitcoin still remains the best thing you can do, because after everything Bitcoin still grows while most of these altcoins are just for the moment and after they mostly fade. Though there are still some good ones that keeps moving.

There have been a lot of altcoins that are doing really great this year, Dogecoin really pumped hard this year and even a lot of others that did great. It (dogecoin) later started dropping last weekend which made a lot of people to panic. But I have noticed that there are still lots of people who are ready to HODL, because they are believing they will reach the $1 price.

slaman29

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Quote from: Chato1977 on May 12, 2021, 04:49:35 AM

Quote from: slaman29 on May 12, 2021, 03:43:05 AM

Soon there will be more and more people like you also regretting. Defi is just a trendy thing right now with 100% APY but it all won't matter in the end when their tokens crash and burn.

assurance is nothing with DEFI bs projects , they are like Pump and Dump coins and will never have a place for long term in this market.

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Plus, all these networks people are trusting to wrap their Bitcoin? It's not going to end well when one of it becomes insecure or rogue, I believe this is a matter of time only:)

At least OP has now new knowledge and will surely use this in His future investments.

Indeed, assurance is bullshit in Defi, and people who actually think assurance means something have never been in crypto. I was in ICOs with all kinds of assurances. Roadmap inspections and assessments. Even escrow protections. These are all bullshit at the end of the day and I learned my lesson so hard:)

leea-1334

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Quote from: noorammak on May 12, 2021, 03:01:49 AM

All crypto trends will pass and money will always flow to Bitcoin and the top altcoins. I have seen that through the bull market times from ICO, IEO, IDO to DEFI.
Holding Bitcoin and the top altcoin is an arduous process and we need to be consistent with our stance to become rich.

And always almost in the same majority of funds,,, to make Bitcoin dominance go back up towards 60-70% again. I think people in crypto who saw the last rally should know this,,, and those who have not will learn this.

Like you said IDO and DEFI is just ICO days. People have not seen it yet.

iTradeChips

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For me, my opinion on that is a bit negative but I do put it in a positive way. If you put these things into a certain perspective, you will find that predicting the future is one hard thing to do. We do not know what the future will bring for us. We will also never know if the good future will happen now or will it happen tomorrow or maybe it will happen in a few years or a decade. Nobody knows what will happen. So if you did something now and then 2 weeks later you regret that decision, there is really nothing for you to do than accept that fate. Nobody is to blame, it is just what it is, a happening on a point of time. So do not feel regret, use it as an opportunity to learn patterns, know more news and information, and check with many people. So that in the next time, you will be able to know the patterns, and will be well informed in your decision to sell or to hold a little more.

Vaculin

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Winding down.

It is somewhat you are unlucky and having a wring entry with Defi. I know that there are promising Defi projects around but you've got the wrong one burns your out and loses your money. It is really regrettable but that was a part of our life in crypto, sometimes we overly speculated that choosing this one will give us more but unfortunately, we ended up badly.

Anyways, makes this a lesson to learn. Not all the time we are right, so better to move on and accept this loss. This is not the end of your life in crypto, you can still recover it someday.

mamiko

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I do not find it very correct to sell bitcoin. But if you need it and you have bitcoin on hand, of course buy it. Although you have money, do not have any difficulties. but if you don't need it and you're selling, you're doomed to miss this train. I have sold my bitcoins in the past and I regret it very much. I want to save as much bitcoin as possible now and earn more income in the future.

tanjiran

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Quote from: DatKing on May 12, 2021, 01:05:47 PM

Of course HODLing is much better than yield farming. Because those DeFi projects aren't very reliable to stake onto. You can even lose money while hoping to earn. It is the same for HODLing also but at least it is safer and much more profitable in the long run.

this really depends on the token used. we know that defi is on the hype, many projects whose prices are rapidly rising so farming can be a fairly effective alternative to multiplying assets. but we need to do an in-depth analysis and be prepared to face the worst risks as scammers are also starting to take advantage of this opportunity. we must be prepared for the possibility that our crops could be profitable or worthless.
while holding is much safer because we can store it in our own wallet, while for farming we have to "entrust" our assets to the project platform. must be really selective in order to keep our wallets safe.

erep

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Quote from: NinjaBitcoiner on February 09, 2021, 01:32:44 AM

I learned the hard way that Hodling BTC is the only way. I wanted to grow my BTC so i sold my 1BTC @32K a month ago and put that money in DeFi for yield farming in those high APY. I took some losses and some gains. Now BTC jumped 47K. If i would have just HODL all this way i would have more USDT then if i buy BTC now. Lesson i Learned: Yield farming is useless. People put so much at risk entering smart contract not to mention the daily time waste. Just HODL and you would have more more money than anyone yield farming in long run.

Before transferring an asset from the top coin to another, you should specifically consider and do not need to rush to trade the entire asset but quite a portion of the total asset. This is to anticipate if the top coins increase and you can enjoy half the profit from it.

DatKing

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Of course HODLing is much better than yield farming. Because those DeFi projects aren't very reliable to stake onto. You can even lose money while hoping to earn. It is the same for HODLing also but at least it is safer and much more profitable in the long run.

riiiiising

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Quote from: NeuroticFish on May 12, 2021, 01:31:11 AM

Quote from: nutildah on May 12, 2021, 12:51:44 AM

Never regret spending your BTC. That's what it was born to do. The purpose of bitcoin's life is to be spent.

Some people tend to "look back" and have regrets, some keep looking forward. Too many don't understand that's unhealthy to look back because you'll always find something you could have done different, better.
This being said, it's clear that selling Bitcoin for NFT turns out to be a bad business more often than not. But OP should (and seems to) take it as a lesson instead of regretting.

Quote from: NinjaBitcoiner on February 09, 2021, 01:32:44 AM

I learned the hard way that Hodling BTC is the only way. [~snip~] Just HODL and you would have more more money than anyone yield farming in long run.

Indeed. It's a valuable lesson and you've learned it.
And keep in mind that in the same way all who got burned in the ICO craze warned that NFT is not a good investment and you've ignored that, many of the next ones to come will be burned by the next similar craze, just because some don't believe the warnings and "want" to learn from own experience.

It is the same with NFT as it was with ICO. Nobody will deny that there were a couple of ICOs that made you filthy rich. The danger is that t is just a hand full. It is tempting to find one of this hand full, but as Neuroticfish says you'll lose more often than not. Try to have a balanced portfolio, that allows for some high potential high risk investments while also having exposure to more solid coins.

Lanatsa

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Quote from: lienfaye on May 12, 2021, 02:42:09 AM

Quote from: Zemomtum on May 12, 2021, 02:32:43 AM

I don't blame you guy but you need to take a risk that is well calculated. You don't go all-in for only one token, you need to diversify even though you are using your precious digital gold (BTC) for it. If you have invested 0.1 in each, that will be 10 projects and there is no way all of them will be dumped and you can easily cut off your losses.

But investing in defi projects are risky compared to well-established coins. If I were to diversify my investment then I will choose the coins similar to bitcoin, a coins that are existing for few years and has a good development and progress. It has less risk and it doesnt matter if I wait longer as long as there's a possible good outcome waiting. Anyway investing is really risky regardless how promising it can be thus dont invest the money that is meant for important things.

Yes for you but for others ? we do have different kind of approach into investment this is why there are some whom do really risk out even if its way too risky yet we do know on how much
potential in profits it could possibly give you once you do hit up the right project and of course it would really be a gamble.

Even if you do know that bitcoin is worthy but still you do consider out to diversify into other projects on having the beliefs that it could rise out then
its part of our investment strategy and of course it would neither be resulting into positive or negative.

Regrets do always come in the end but doesn't mean that you would completely stop on what youre doing. In able for you to make money is to
make out some risk which is normal.

mbe48

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You should not think narrowly about losses, because basically Crypto has a high risk of prices that do not necessarily fluctuate significantly. You are also not the only person who has a loss, and one lesson it is good to save on some assets. And remember the main benefit of DeFi technology is that it allows people who previously did not have access to financial services to participate in the global economy. Stay enthusiastic about the achievements you get ...

skarais

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Quote from: ?? on ??

holding bitcoin in the long term is one of the best ways to earn income when compared to the DeFi project, bitcoin has long been born and has been known by everyone even recently many institutional investors have started to look at bitcoin because they really believe that bitcoin is good to use as an investment.

That's right, bitcoin is a profitable asset both in the short and long term. However, due to price volatility, maybe people are still hesitant to hold it for long for fear of not making a profit. I am pretty sure that anyone who has sold their bitcoin in October to December 2020 will regret the decision once they find out that the highest ATH occurred in 2021. But regretting the decision because selling it in the past will be useless, just make it an experience and a valuable lesson in the future.

Fredomago

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Quote from: AicecreaME on May 12, 2021, 08:28:03 AM

That can't be avoided, I meant we don't even know what's gonna happen next in the crypto market, whether it will pump or dump, so what you did was not even wrong.

Your decision is your personal choice, no one can tell if it's right or wrong, depends from how you treat it and how you accept your action.

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If you bought your bitcoin under $32K, then it is already a boss move since a profit is a profit no matter how small it is.

yeah right, and what's important is you able to gained from your investment, how early you might move it and diversify it, it's your

money and no one else who can decide your position to take it.

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Maybe next time you should spare some Bitcoin in your wallet so you could celebrate as well whenever it makes an All Time High price, just don't put it all in one basket.

Learn from this mistake and start rebuilding your investment, there are always good and bad experienced but there's also knowledge
and skills that you'll learned along the way.

Xinarae*

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Bitcoin has always been at the top of all currencies in the crypto market. Even if the price goes down it will go up again but it will have to wait patiently for a long time defi schemes to increase the price of bitcoin have improved the market a lot. The bull run is going on and looking at bitcoin this coin will rise even higher but there is no guarantee of how long the defi projects will last.

conected

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holding bitcoin in the long term is one of the best ways to earn income when compared to the DeFi project, bitcoin has long been born and has been known by everyone even recently many institutional investors have started to look at bitcoin because they really believe that bitcoin is good to use as an investment.

- Best way, but most people can't rely on this direction for too long as bitcoin often has terrifyingly quiet spaces and when it falls into this state, investors also feel very uncomfortable, this silence created an impatience and, looking at other opportunities, they realized that bitcoin was not the only chance, Defi was such a case, a bright spot could be profitable. Momentary letting go becomes an opportunity for others to accumulate, and as the price of bitcoin flies, remorse rises in emotion, sometimes holding is an act that requires a lot of rigidity.

AicecreaME

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That can't be avoided, I meant we don't even know what's gonna happen next in the crypto market, whether it will pump or dump, so what you did was not even wrong. If you bought your bitcoin under $32K, then it is already a boss move since a profit is a profit no matter how small it is. Maybe next time you should spare some Bitcoin in your wallet so you could celebrate as well whenever it makes an All Time High price, just don't put it all in one basket.

raidarksword

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Experience will always be our great teacher in this industry and the decisive decision will always be the focal point to succeed for long term haul purposes that will give more profits in the future. DeFi project had been a hype few months that's why the hype is so great that fake and scam projects were also booming. DYOR will always be the basic tool not to get rekt.

online73

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Hello everybody. In some ways I agree, in something, no. But with each passing day, it becomes clear to me personally that looking for different ways to make money on crypto-currency is less effective than just hodl Bitcoin. But you become even more convinced that, if you compare the time frame, then we seem to be in the "wild west" - it's dangerous everywhere. Yes, if you were lucky, you could buy a coin that will give you thousands of X's - but this is simple luck, just like finding gold in the "gold rush". Here and now, you just need to be very well versed in the crypto market, having previously traveled the thorny path of loss of deposits and deception from various projects.

Topic: I regret selling BTC for entering DeFi. HODLing is the way! (Read 751 times)