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Author Topic: You don't loose if you don't encash  (Read 563 times)
kryptqnick
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July 21, 2019, 06:01:05 PM
 #21

Hey  Smiley
 
I once came across a time when I was unsure where the market is going to take us , thus I brought at a very high price , unfortunately the price came down as quickly as it climbed up.

The reason I believe I haven't lost even a single penny is because I believe you cannot loose when you don't encash.

Therefore I still believe holding for the long term can actually help you .

Yes, you're basically right. The problem is that even though "don't invest what you cannot afford to lose" is like one of the most important rules, people tend to ignore it. And if you invested the money, awaiting a pump, but your investment is going down and you need this money, then you sell and you lose. Or if you're just greedy/emotional. I had around $1k in BTC when it was $20k. I didn't sell then, and I tried not to sell when it was $6k. But the problem was that this bearish trend was out there for too long, and I simply needed money for things like food, so over the course of the year, I sold all of that, losing a lot, as you can imagine.

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July 22, 2019, 03:11:37 AM
 #22

You are right, If you don't en-cash and hold it for a long term wait until you gain a more profit to it. Holding bitcoin is actually a good profit.
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July 22, 2019, 03:37:06 AM
 #23

right, our assets are fixed, but the value in usd decreases, and this is what makes traders panic. but if we have long-term investment intentions, fluctuations do not overload our minds, and panic can be avoided


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July 22, 2019, 04:03:40 AM
 #24

Hey  Smiley
 
I once came across a time when I was unsure where the market is going to take us , thus I brought at a very high price , unfortunately the price came down as quickly as it climbed up.

The reason I believe I haven't lost even a single penny is because I believe you cannot loose when you don't encash.

Therefore I still believe holding for the long term can actually help you .


That is my option every time I commit an error in my trades. Just recently, when BTC was above $12,000, I set a buy order at $11,000 thinking that if ever it will correct its way down, it will bottom out at $11,000. Apparently, it proved to be wrong and was based on an erroneous analysis. But I will not allow to just accept my loss. I would rather wait for another month or two than just sell with a loss.

But take note, this might never apply to the majority of altcoins.

 
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July 22, 2019, 04:38:06 AM
 #25

Hey  Smiley
 
I once came across a time when I was unsure where the market is going to take us , thus I brought at a very high price , unfortunately the price came down as quickly as it climbed up.

The reason I believe I haven't lost even a single penny is because I believe you cannot loose when you don't encash.

Therefore I still believe holding for the long term can actually help you .

Yes, until no selling is done, there will be no loss yet there are still chances of earning/getting profit. As long as you hold any amount of bitcoin, its value may change as its price changes and that change will be the basis if you'll ever gain or loss. It will be better if you choose to hold than experience loss by selling your bitcoin in a price lower than the time you bought bitcoin.

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July 22, 2019, 04:43:00 AM
 #26

The original statement isn't always true.  

True, profits or losses aren't realised until you sell, but holding and never selling doesn't guarantee not realising a loss either.  Ask anyone who has held stock (without selling) of any bankrupt company, or even plane tickets of an airline that has gone bankrupt.   Or even in crypto, anyone who HODL'ed any of hundreds of alt coins whose charts have ONLY gone straight down after a small initial climb to sub .000X since their inception.   There comes a point with some assets where you no longer have a choice of selling as the asset in question has already pancaked.   It's like saying you won't crash into the ground if you don't parachute out of the plane first.   

That said, this isn't FUD... I both HODL and trade, but do disagree with the original statement.  

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July 22, 2019, 04:44:43 AM
 #27

Of course, you are not affected by the price is you don't sell. BTC is still equal to BTC and that's what beginners should remember as well. They panic seeing their portfolio going down, but they didn't see that by not selling nothing has change. I also learn this the hard way that's why I usually don't sell my holdings, unless there's something really important IRL problems that I really need fiat and dump by bitcoin.

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July 22, 2019, 09:03:56 AM
 #28

Definitely a yes. this is a waiting and timing game, patience is the key with a little bit of a luck and sharp instinct when to sell.
A lets not forget to play what you can only afford to loss. Never ever borrow to play only, many get burned with this.
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July 22, 2019, 02:56:04 PM
 #29

Basically, you dont lose of everything if you do not encash  but if you will look on the bigger picture when you earn from the salary you can get here and then the price drops you are still actually loosing the value of your effort and you need to wait and hold until the price raises again.
Though losing opportunity for gaining more volume when the is cheaper because afraid to take the risk, you need another source of income for you cannot encash when you need money. You cannot depend on it because market is very volatile.

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July 23, 2019, 02:15:48 AM
 #30

That's true. A lady recently chatted me up that a trader told her she can never loss in money trading bitcoin, I said there is a high degree of risk, because the value may go and we will have to wait for price to pick. I had to tell her the whole truth because I don't want someone disturbing my peace that her money has evaporated due to a half-truth. Holding with patient is very important.

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July 23, 2019, 03:08:23 AM
 #31

Some would not prefer this. They would rather decide to just cut loss rather than go along with the fall. They prefer to suffer a smaller loss and then buy back at the bottom. This is the strategy of a lot of traders. Well, they have their own technical analysis from which they base their order prices. But to those who do not have any of this at all and are doubting which way is better, they better choose to HODL. If they are willing to wait though.

 
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July 23, 2019, 03:17:40 AM
 #32

Please define what do you mean by "long term".

For how long do you intend to hold your coins, before you encash them? You need to convert them to fiat at some point of time, since the acceptability remains pretty low as of now. In my case, I purchased most of my coins in 2012, when the prices were around $10 per coin. I sold most of my stash in 2015, when the exchange rate was around $200, but that was after losing the majority of my initial coins to a scam. Now tell me which one was better? Losing the coins to a scam, or selling them for $200? I still have plenty of coins remaining, despite selling at regular intervals from 2015 to 2019.

Had I kept all of my coins, then I would have become a millionaire by now. But I don't regret what I did. Back then, I had financial constraints and badly needed the cash. And Bitcoin is such a risky asset, that you don't know when it will go down by 90%.
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July 23, 2019, 03:34:35 AM
 #33

True holder don't care if it takes many years to take profit from a high purchase, long-term holders will be the one who will be rich because bitcoin price will gradually grow due to mass adoption.

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July 23, 2019, 08:20:04 AM
 #34

Theorically you are right and i made same mistake when i entered the market.my lost is %70 and its too late to sell now.it was a small amount so its not a big deal but what if itwas a huge? If you dont accept the lose and hold, you misses other oppurtinities and there is no guarantee to back the price you bought.

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July 23, 2019, 08:29:00 AM
 #35

Everything is relative, depends when did you buy your coins and on what price, what is your goal and what does long term means to you. For some long term is a 6 months, for some 6 years. But of course that it isn't wise to sell at lower price than you bought, that only mean you will accumulate loss and that you made the mistake at the very begininig - you have probably bought the coins with money that you need.

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July 23, 2019, 08:40:36 AM
 #36

if you consider BTC as it is (a sequence of bits and bytes created over the blockchain) your sentence is correct IF you got your BTC for free.
Holding and encashing have two different meaning, just ask yourself why are we holding? 90% of the holders will tell you 2 different things: to support this technology and to get more gains based on the investment made.
So holding goes in pair with the market value, encashing is ignoring the market value (to a certain degree).
Pixyoxx
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July 23, 2019, 08:42:54 AM
 #37

You don't loose if you don't encash.
We'll I agreed because even if you buy at a high price if you are patient enough you can make profit.
Although we should avoid buying when the price graph is expected to go down but that doesn't mean your final fate is loss.
All the best to you.

localcrypto
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July 23, 2019, 12:26:25 PM
 #38

crypto is all about holding the crypto currency for long term that is how we make profits if we sell overnight in panic mode we loose all our capital
izanagi narukami
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July 23, 2019, 12:51:24 PM
 #39

That's what I'm doing

https://www.tradingview.com/symbols/BTCUSD/
When you see the chart and set "All" you will see the peak so it's great for us to keep hold until it reach another "guarantee" peak !

I've done it over 5 years and it still happening

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July 23, 2019, 01:00:55 PM
 #40

If we can manage to hold our coins during bear season, it absolutely nothing we could lose but in the way that we should have to sacrifice sometimes for the seek that we can move our investment. As to know that holding isn't a guarantee to save from losing especially when we are holding those dead coins. better to sell them and re-invest into the other coin.

 
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