rdscrypto
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March 04, 2018, 01:01:42 PM |
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So, I decided to respond to this because back in 2016, I was holding a large quantity of a coin that had a low value. Then, I had an emergency come up, and thankfully, I was able sell a pretty large quantity of my holdings of this particular coin, leaving me with about 10% of the amount I originally had. The value of the tokens that I cashed out equaled a little over $5,000. Now, I procured these tokens without any fiat investment whatsoever, so the $5,000 was complete profit.
So, great, I was able to use crypto to take care of an emergency expense that was almost not paid.
Well, about 2 months later, the coin increased in value by around 15,000%. That is, 150x the value it was originally. This was great for the balance that I had remaining, which currently totals about $15,000 USD.
However, when I calculated the new price against the amount of coins I had to sell to satisfy the emergency situation, I realized that I had lost out on the opportunity to become an immediate bitcoin millionaire, as the total that I missed out on was a little over $800,000.00.
Because I had zero dollars tied up in the project, my wife was able to convince me to look at the glass "half full." Most wives would not be so kind if their husbands lost a million bucks. However, again, there was no real investment other than a little bit of time, so she was able to use such details to bring me out of the minor depression I found myself in after the loss.
Personally, I would use about half of my ETH holdings and buy up all the BTC I could at 0.89.
Even if it rebounded to a hundred bucks per BTC, the amount that most of us could buy at 0.89 would allow just about everyone with a little bit of fiat or ETH to become filthy rich at the smallest rebounding of BTC.
Sometimes, crashed markets can hold more opportunity than a stable one can.
With all of that said, as far as the OP comment about trading in the wife -- I would have to pass here. My wife is amazing, beautiful, and supportive as well as any other positive adjective that could be used here. More importantly, as far as crypto is concerned, she is very supportive of my efforts, ever since I joined the RUPEE developer team. We were able to make improvements to the project that were so massive, the value of the coin went from $0.00001 to $0.20, give or take. That's a huge increase, and when my wife saw that my efforts in crypto were not a waste of time, she has joined into my effort.
Now, if the price were to appreciate to multimillions per coin, I would sell half of my holdings, invest with some of the sale profits (in other crypto, business investing, precious metals, and real estate). Next, I would write myself a commission paycheck in the amount of $17% of the sale. This would be the personal money that I keep off of the sale, and would be about 10,000,000, based on the figures from the OP.
Thus, my family would be set for life, right then and there; my business would be funded appropriately; and I would be able to divest into other commodities, such as silver (mostly), gold, platinum, etc.
I would pass on buying the island. While the idea of having zero government and zero regulatory bodies is admittedly very tempting -- I think I would stay right here in the United States and use a share of my portions to improve the local community by starting an NGO to do so.
The OP made a very interesting comment regarding President Trump banning Bitcoin. It is within his rights as the President of the United States to do so, but it is unlikely that he would personally do so, as he is a huge proponent of personal choice. However, most people do not understand the the POTUS has the ability to do things like this. For an example, one only need look at the Executive Order issued by President F.D. Roosevelt during WWII, which served to forbid "the hoarding of gold coin, gold bullion, and gold certificates within the continental United States." This exec. order had the effect of ordering private citizens to turn their gold over to the federal government under threat of criminal prosecution.
Such an act by President Trump would not only be legal, it is also an action that would be difficult to challenge in court because there exists legal precedent (FDR's E.O.) that was never successfully challenged before it was rescinded after the war. This means that such an action by the President is completely legal and well-established.
Such fear of government intervention is the reason why myself and a group of other crypto devs are in the process of conceptualizing the Veritas Protocol, which will allow our community to self-regulate. The project will aim to contract with other projects with the sole intent of self regulation in such a manner that we can demonstrate to the US SEC that we are completely able, active, and capable of policing ourselves. We are in the process of negotiating with several projects, including CampusCoin. RUPEE will also be a part of the protocol, but in full disclosure, I am part of their US-based development team.
If you are interested in getting in on the ground floor, send me a private message. We are about to launch a crowdfunding and angel investor campaign, but there is no purchase or investment necessary to get in early as a member of the project. We are going to have several outreach bounties, so if you cannot invest personally, there will be plenty opportunity to earn VERT tokens.
Anyway, that is just a side note. I will post an ANN when conceptualization becomes realization. We are also looking for people who want to join the team. Again, there is no investment necessary, but team members need to have technical knowledge and the willingness to spread the word. Those who join the team will also be part of the committee that sets protocol procedures, currency changes, and other major issues involved with the token. You will be part of the driving force that creates the final version of the Veritas Protocol. Again, just send me a DM if interested or follow me on Twitter @rdscrypto.
Back to the original topic, though -- the key point when it comes to increases or decreases in the value of crypto is this right here:
Do not invest more than you are willing to lose.
I hope that at least one person was able to use the above information in a beneficial manner.
With Sincerest Regards,
William A.
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