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February 07, 2014, 11:35:57 AM |
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Bitcoin represents your freedom. All the people saying cash out are Bitcoin newbies who don't understand what Bitcoin represents yet. We have all been there.
The best advice is don't cash out unless it is the last resort. If you truly believe Bitcoin and cryptocurrencies are better when Bitcoin is volatile and crashing you can park your wealth into another cryptocurrency which does not inflate.
But why would you want to move out of a currency internationally controlled by the people which has intrinsic value to put it into a national/poltiical currency guaranteed to inflate?
Learn how to use arbitrage and how to park your value from one form to another. Find an altcoin which has a fixed supply, with little or no inflation, and which can even pay dividends and park your value there.
When you'll receive daily, weekly, yearly dividends, your monetary value is safe from this crashing nonsense. For the newbies I suggest you spend the next few months conducting your research into the alternative currencies rather than cash out to fiat.
If you cash out to fiat you're sacrificing freedom for the illusion of security. If you can pay your bills and keep your freedom intact then don't cash out because this is just the beginning of the wave and less than 1% of the United States (and even less of the world) has purchased a Bitcoin. If you're worried about losing money then cash out when a coin is worth $100,000+ and only cash out enough to last about a year.
If my post sounds delusional with $100,000 a Bitcoin check back later this year to early 2015.
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