Bitcoin Forum

After 3+ years of holding digibyte I moved it all to bitcoin.  I did this believing that bitcoin would ultimately stand the test of time better than digibyte.  Looking at it today my digibyte investment would be worth roughly 1.46 times my current bitcoin investment.  Did I make a mistake?

Maybe you should have moved all. Could have split it in three parts. Move 1 part to BTC, have a second part in cold storage, and trade with the third. BTC is a long term investment, while most alts are good for shorts.

As long as you keep investing and your money is in circulation, then you don't really loose, just cashing out profits to make more profits, you can always come back in before some good news with twice that money - that's my opinion.

Regarding digibyte - I think it has a bright future ahead of it, and, if the devs are going to meet their targets, in a few months it can go up a lot IMHO. I'm expecting the first spike this month due to the new protocol release, but I think the real pump is going to happen when digibyte gaming goes live.

A good move, seeing Bitcoin price moves is the time to move the digibyte into bitcoin. Congratulations.

Diversification is still the best. I also have DGB which I purchased just three weeks ago and looks like it is already 150% worth. Bitcoin is the main crypto currency and is a bit consistent. I mean the inflation of bitcoin is not that high compared to alts. 

Will dgb now in development? What are the items?

btc is a great longterm investment, there are 16 mil bitcoins and 7 billion people so its easy to see its undervalued , it will go to 5-50k in the next 2 years

Are you talking dgb or btc?

if you exchange your coin such as digibyte to Bitcoin, that is no mistake,
because bitcoin price will always rising, but of course with some correction

lets check some prices shall we.
DGB price 3 years in May today was about 80 satoshi
after 3 years today DGB price is 106 satoshi today.
that means 32% profit
even if you had bought in Apr at 40 satoshi that would be 165% profit

bitcoin was $440 3 years ago in May
after 3 years it reached $1800 and now it is at $1750 as i am writing this.
that means 297% profit in 3 years.

now here is the thing to have in mind. bitcoin price will go up and if you look at the history of bitcoin it was rising in the past 3+ years for the most part.
now DGB or any other altcoin for that matter, will drop hard after this pumping phase ends. if you look at their history, they had lots of similar rises and falls. from 30 sat to 150 sat in a couple of days or a week then back to 30 sat again. rinse and repeat.

that is why i always say
bitcoin=long term
altcoins=short term

Moving to BTC is ALWAYS a good idea. When in doubt, go to bitcoin, it is the king of crypto, mother of all cryptos and so on, so when you are holding an alt and you are not sure, go to BTC.

As the other poster said, BTC is long term, alts are short term, SOME alts are medium term or even long term too (very few).

If you bought Xrp on march 1 (wich i did) you would have a profit of 3855%
Btc profit margin sucks

https://twitter.com/Geedora_/status/863456169066729474
DGB NEWS!

hmm.
a solid 100-200% rise each year for bitcoin based on real adoption by real people, merchants, big businesses such as Valve last year, small businesses all around the world, and only rise and no fall apart from price corrections.

vs.

pump, where price goes up 4000% in a week to a month and then free falls down back to the usual low price levels within 1 week for some altcoins and a couple of months for the big ones.

hmm a tough choice indeed.

We shall see ;D.. dont get stuck in the old ways

Maybe you move it partly to btc or all for future savings because bitcoin from year to year will go up .. ;) ;) ;)

my strategy is always buying altcoins cheap and dumping them as soon as they rise up and take the money into bitcoin and hold bitcoin in my cold storage until i want to buy another altcoin to dump again.

to be honest i believe you wasted your money by holding that altcoin for 3+ years, that coin like all the other altcoins without exception have no rise for very long periods of time, then suddenly they are hyped and then pumped to the moon and then get dumped back to the same low price long period. and that is why i chose my strategy like many others.

Holding altcoins are only good for trading and not so much for investing. Any bad news or fud will drive the price of alts to a level where you can't imagine so it is much safer to store your money in btc.
At least you know that its value won't go down as much as alts. Alts are volatile so it may not be suitable if you can't stand all these price fluctuation.

On 12nd there had even been issues on the blockexplorer. People keep marvelling if Minecraft will come or just a fake piece of news.
My trust into DGB after 3 years of swing trading is rather low, seen 20sat, so .. you made the right move.
Watch it hobbling forwards.

Soooo.... seeing it hit 450... do you hate yourself now?

My 1.2 million digibyte today would have been worth roughly 14.9 BTC.  I sold it at 1BTC.  So I would say that I am not pleased with myself.  I just try to remind myself that I am still over 10X my initial investment... it helps me sleep at night.

I feel you dude, I sold 50k Stratis for like 6 btc. Had I waited until now, that would have been 175 BTC (over $400k now). Oh well, hindsight is 20/20.

3+ years is a longer time that you can hold your digibyte because i am sure that now you can made big money and we can see that the price of dgb is getting increase than before. i think you can save your dgb or you can sell it to make some good profit but if you want to just hold your dgb then its no big problem for you. i am sure that from time to time, dgb price will be increase too followed with bitcoin price.

of course, you wrong ;)

start hold SC or DGB now... also DOGE is a good option

I think you did a bad moves bro ! separate your bitcoins buy half of dgb

There is nothing as painful as losing d long tail profit. It kills you for a long tym and you keep on calculing and recalculating at d current prices. Lol. Do take heart. I felt dis with Xrp, Stellar and now dgb. Its painful

LOL I can remember when I sold all my 2000 ether when the price was 9$ to buy litecoin and after that I sold those LTC for storj as I thought that HDD mining is the new thing haha

It really just comes down to luck sometimes. A lot of these cryptos were fairly dormant and then just skyrocketed. Some after news, some out of nowhere. All you can really do is diversify and hope one of your picks in the lucky one IMO.

Probably diversification is the best answer. Here's why:

Can BTC do 16000% in 3 months? One of my investments did. So that is why I think having some 5% speculation is a good thing, but that's me. Some peple put all in BTC and that's ok, I"m doing 50% BTC right now. (maybe that is to risky and I should do more).

If you have MILLIONS of a coin, it may be a good idea to sell off a large portion if you are tired of it, but always always keep some in reserve

just in case....like you had kept 100k :) that would have been good

Damn that was a big lost dude. I will be mad at myself for losing that much btc. Yeah, if you are still in the positive though, just think of it so that you wouldn't be disappointed at yourself. My strategy would be just to sell small amounts in increments so that I will have somewhat mitigate my risk just like what happened to you, Selling it all in one big dumping.