But instead of the joy an investor derives after a smart business move, I felt like a betrayer. My conscience kept pricking me that I have done the wrong thing. As I was pondering over my actions and current state of mind.
Topic: Swapping Bitcoin for "stablecoin": Smart move or disloyalty? - page 2. (Read 307 times)
But instead of the joy an investor derives after a smart business move, I felt like a betrayer. My conscience kept pricking me that I have done the wrong thing. As I was pondering over my actions and current state of mind.
Loyalty to an asset is dumb.
Converting to stables is fine, but how sure are you that you're actually right in the first place? Most people fail at timing markets.
You being a "fan" of bitcoin doesn't stop you from moving asset allocations around for whatever you think benefits you financially.
Depends if you care what people think of you. But do you really care what random people online think of you? If so, you need to rethink your life.
Are you being serious right now?
As a new investor in the Bitcoin market, I came up with a plan that if Bitcoin would fall below $10,00 in few months, it would be a smart move to convert my BTC to the so called "stablecoin" (I later discovered that it can be unstable) and wait.
Ah, the classic buy high, sell low strategy.- Do you think swapping your BTC for stablecoin makes you are solution to Bitcoin bearish run or a contributor to the challenge?
- Do you fell that wishing or believing that the price of BTC should fall below $10,000 makes you a real fan of Bitcoin?
- Can you comfortably publicize or speak good about BTC while you are ditching it?
- Is your love real, when you flee because of a temporal setback?
Smart move if you are doing this to increase your Bitcoin. For example, selling 1 Bitcoin for stablecoin when it was in the 60k range and buying Bitcoin back with stablecoin when it was in the 20k range. By doing this, you could turn 1 Bitcoin into 3 Bitcoin or into 2 Bitcoin and 20k in stablecoin and then long HODL.
- Do you think swapping your BTC for stablecoin makes you are solution to Bitcoin bearish run or a contributor to the challenge?
In some ways it's probably a bet against the people that have already sold. If you're selling a lot, it's obviously a bad idea to sell all at once but there are ways to sell by causing a minimal effect to the market (like selling the same price every few days with a few btc).
- Do you fell that wishing or believing that the price of BTC should fall below $10,000 makes you a real fan of Bitcoin?
I don't think this is as simple as being in favour or against bitcoin - believing something bad will happen doesn't mean you're against it.
- Can you comfortably publicize or speak good about BTC while you are ditching it?
I think most people that have been in the cryptospace for a while don't really care about how bitcoin is valued price wise (I think the value in fiat and potential/real value are different - it's a new market with an innovative technology adoption's going to be slow).
- Is your love real, when you flee because of a temporal setback?
Do you think swapping your BTC for stablecoin makes you are solution to Bitcoin bearish run or a contributor to the challenge?
Sell offs usually create more panic in the market and is likely to cause more drops during bearish runs. This is of course not much to consider if you're a trader interested in making profits.
Shorting is a trading strategy where one swaps a highly speculative asset at a price which they predict to be the top, in other to by back when it drops.
Do you fell that wishing or believing that the price of BTC should fall below $10,000 makes you a real fan of Bitcoin?
There are no wishes or believes, just predictions and speculations based on the market situation. There's nothing like 'a fan' of Bitcoin, we see qualities in the asset and choose to hold it. This does not mean you would always be optimistic about the market.Can you comfortably publicize or speak good about BTC while you are ditching it?
Is your love real, when you flee because of a temporal setback?
Again you're attaching too much to a financial asset.Is your love real, when you flee because of a temporal setback?
Being a trader of Bitcoin doesn't mean you're ditching it, or fleeing.
It depends on your reason. If you have btc and you are needed funds or stablecoin for something then its not unwise to said that. Bitcoin is created to use for transaction and that is a privilege if you can convert it to fiat or stablecoin. I dont think btc is meant only to hold and sell when its high isnt it.
Unless we categorize btc only as economic value such as gold or other valuable economic indicator.
Unless we categorize btc only as economic value such as gold or other valuable economic indicator.
If you look strictly technically, Bitcoin is in every sense a far better choice than any stablecoins that are actually a privatized fiat that can actually be worth nothing if it is not backed with the fiat on which its value is based. In addition, most of these stablecoins have been privatized to such an extent that the owner can freeze them at any time, whether they are on CEX (centralized exchange) or in a non-custodial crypto wallet.
Therefore, the risk for me personally is much higher with stablecoins than with Bitcoin or government fiat - although it is undoubtedly much easier to do transactions with stablecoins than with fiat, which is actually the main reason for many to use stablecoins.
I think it is always better to be realistic and not lie to yourself and not be misled by various so-called experts because they do not know what will happen in the future. It would be logical for your actions to be in line with your public statements, but we all know that this is not always the case and that the world is full of hypocrites who say one thing and do something completely different. In the end, everyone does what they think is best for them at a given time, and there are few who can be 100% in something.
Therefore, the risk for me personally is much higher with stablecoins than with Bitcoin or government fiat - although it is undoubtedly much easier to do transactions with stablecoins than with fiat, which is actually the main reason for many to use stablecoins.
I think it is always better to be realistic and not lie to yourself and not be misled by various so-called experts because they do not know what will happen in the future. It would be logical for your actions to be in line with your public statements, but we all know that this is not always the case and that the world is full of hypocrites who say one thing and do something completely different. In the end, everyone does what they think is best for them at a given time, and there are few who can be 100% in something.
Do you think swapping your BTC for stablecoin makes you are solution to Bitcoin bearish run or a contributor to the challenge?
Bitcoin is not like some altcoins that are centralized and it is possible for a few people to control their network, if you sell your bitcoin at once, stronger hands will buy it immediately, if you convert it to stable coins that can be frozen in your own wallets, it is still your decision to make, and your loss, it does not make the bear run better or worse, neither do you have to be a contributor for bitcoin to grow back after this bear period.Do you fell that wishing or believing that the price of BTC should fall below $10,000 makes you a real fan of Bitcoin?
What you wish does not matter, many anti-bitcoin people have been wishing bitcoin dead for many years now, but it is still here.Can you comfortably publicize or speak good about BTC while you are ditching it?
If you are too scared, or the plunge is giving you heartaches, surely you can sell to prevent serious health issues, but next time you want to invest in an asset, you should research. People who have researched about bitcoin are not scared of this dump.Is your love real, when you flee because of a temporal setback?
There can only be two things wrong, and it is not love, or the lack of it, it is either you did not do your research, or you thought bitcoin to be a get-rich-quick scheme and hence invested, much to your chagrin right now. 
During these trying times of Bitcoin I have read and listened to many analysis and predictions about its future price. There is perception in some quarters that Bitcoin might fall below $10,000. But there have also been a general belief that the price might rise above $60,000 in few years. As a new investor in the Bitcoin market, I came up with a plan that if Bitcoin would fall below $10,00 in few months, it would be a smart move to convert my BTC to the so called "stablecoin" (I later discovered that it can be unstable) and wait. Immediately Bitcoin price falls below my target, I would re-swap the satblecoin for BTC at a very cheap price and patiently wait for the bullish season thereby making profit. And I did exactly that, converting part of my BTC fund to stablecoin.
But instead of the joy an investor derives after a smart business move, I felt like a betrayer. My conscience kept pricking me that I have done the wrong thing. As I was pondering over my actions and current state of mind, these questions flashed through my mind;
I stand to be corrected, but my answers to these questions proved that my move was not a smart one but a disloyal move.
But instead of the joy an investor derives after a smart business move, I felt like a betrayer. My conscience kept pricking me that I have done the wrong thing. As I was pondering over my actions and current state of mind, these questions flashed through my mind;
- Do you think swapping your BTC for stablecoin makes you are solution to Bitcoin bearish run or a contributor to the challenge?
- Do you fell that wishing or believing that the price of BTC should fall below $10,000 makes you a real fan of Bitcoin?
- Can you comfortably publicize or speak good about BTC while you are ditching it?
- Is your love real, when you flee because of a temporal setback?
I stand to be corrected, but my answers to these questions proved that my move was not a smart one but a disloyal move.
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