Swapping Bitcoin for "stablecoin": Smart move or disloyalty?

[Die_empty]

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;

• 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. 

[Z-tight]

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.

[Lucius]

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.

[cryptoaddictchie]

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.

[Upgrade00]

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.
Being a trader of Bitcoin doesn't mean you're ditching it, or fleeing.

[jackg]

• 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?

Is it a setback or are you playing the same game as the people that caused the setback - at lot of hodlers are hodlers because they understand the market is impossible to predict or because they're emotional/bad traders i don't sellers are setting them back much.

[2stout]

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.

[mk4]

Loyalty to an asset is dumb.

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?

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.

• 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 stand to be corrected, but my answers to these questions proved that my move was not a smart one but a disloyal move.  

You being a "fan" of bitcoin doesn't stop you from moving asset allocations around for whatever you think benefits you financially.

• Can you comfortably publicize or speak good about BTC while you are ditching it?

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.

• Is your love real, when you flee because of a temporal setback?

Are you being serious right now?

[Hyphen(-)]

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. 

Every investor has a plan, and they all invest for profit. When an investor invests in Bitcoin, he or she has a target price in mind; if that target is met, they sell out to stable coins and wait for another opportunity; I call that a smart move, as you put it, and it has nothing to do with dishonesty. Even after a price drop, Bitcoin is still Bitcoin, so holding a stable coin to wait for a bear market is not a bad idea.

[sheenshane]

Do you think swapping your BTC for stablecoin makes you are solution to Bitcoin bearish run or a contributor to the challenge?

Not a solution to a bearish market but you can escape the possible massive loss of value of a dollar in your Bitcoin holding.
That's what we call, "diversifying asset" smart move should must in crypto because this is very volatile and very risky but if you're not sure of what you're doing, better to remain to hold your Bitcoin than diversifying it.

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'm a holder so I wish Bitcoin would pump up and if you're investors, of course, you will wish that there's a bottom of $10k.

[348Judah]

• Do you think swapping your BTC for stablecoin makes you are solution to Bitcoin bearish run or a contributor to the challenge?

I will say yes and in the same way mean no, why is because bitcoin one can effectively manage his asset in times like this by converting to stablecoin especially when the need arises for it use in other to cut loss, if it's a long time investment then i want to believe there's no need for doing that because one of the reasons for an investment is to earn a good yield of return over time and which cannot be achieved in stablecoin except in bitcoin.

This will give room for it rising and increase in value, human needs are different and insatiable, we can't have everyone to have the same motive for conversion and therefore stablecoin or not does not contribute to the dip challenge. ongoing

• Do you fell that wishing or believing that the price of BTC should fall below $10,000 makes you a real fan of Bitcoin? 

Yes, no doubt about it, even if it's goes below $10k its worth investing with, bitcoin isn't shitcoins or unrealistic projects on a test run, its digital currency worth investing with than other cryptocurrencies.

• Can you comfortably publicize or speak good about BTC while you are ditching it?

Yes for real, its bitcoin but I can't do such on altcoins

• Is your love real, when you flee because of a temporal setback?

Those that wait to oay the prize in trying times like this will definitely enjoy the benefit thereof in the future, nothing to freak me about the status in bitcoin price, it's just mere move in price in which if it were to be other cryptocurrencies things could have gone wrong so badly.

[hatshepsut93]

I think it's not a good idea to grow attached to Bitcoin and becoming an ideological follower of it, because it can blind you. There's a saying in investment - never marry your bags.

There's no contradiction in thinking that Bitcoin will perform well in long term, but might fall further in the short term - this is not a betrayal of Bitcoin, it's just a prediction based on the observed data. There's some small percentage of people who will say that Bitcoin is always bullish, that Bitcoin will skyrocket in a few days - this view is unhealthy, it creates false expectations.

There's nothing wrong with dumping Bitcoin, especially after if it means making decent profit. Just keep in mind that buying it later will likely be a very good idea, because more bull markets will come. Deciding to quit Bitcoin for good could lead to some serious regrets later on.

[CryptoHeadlineNews]

Loving the coin or not will not stop it's volatility. It has been it's nature from day one, so the best thing to day is swapping the coin to a stable coin to prevent more lose. But another big question here has always been, what if after a swap, the price later goes up before you even notice, what will you do then? And that's where I love exchanges like Binance, Gate.io, Remitano and e.t.c, because they have features like "stop lose" and "take profit" which allows you to set a price limit how much you are willing to risk your coin

[pooya87]

Swapping Bitcoin for "stablecoin": Smart move or disloyalty?

It's neither, it is pure stupidity that is the result of lack of knowledge.

There is perception in some quarters that Bitcoin might fall below $10,000.

There is a difference between "wish" and "perception/analysis/speculation". $10k is a wish that is very similar to wishing price falling to $1k back when price was $3k.

to convert my BTC to the so called "stablecoin" (I later discovered that it can be unstable) and wait.

The problem with stablecoins is not just that they may not be stable. The biggest problem is that they are centralized and shady. This means at any time they can disappear completely and the result would be your entire money being lost.
Not to mention that because they are centralized they can target you individually and seize your money.

But instead of the joy an investor derives after a smart business move, I felt like a betrayer.

There is nothing wrong with selling bitcoin.
- Just don't sell after the drop ended at the bottom
- Don't forget to buy back when the price stabilized or started moving up
- Don't convert your bitcoins to a shitcoin including stablecoins.

Do you fell that wishing or believing that the price of BTC should fall below $10,000 makes you a real fan of Bitcoin?

That makes you a fan of fiat who doesn't know what bitcoin is.

Can you comfortably publicize or speak good about BTC while you are ditching it?

If you are only talking about bitcoin price then you are not helping bitcoin whether it is about its price rising or falling.
Bitcoin is a decentralized censorship resistant currency that operates globally and 24/7 at the highest security and speed with the lowest cost.

[gagux123]

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;

• 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. 

I confess... I didn't understand why you think you are a traitor/disloyal

You are just protecting yourself from a possible Bitcoin crash using some stablecoin as security, with this, can exist some chances of a particular crypto asset falling and with that you will be able to buy a greater amount of cryptocurrencies.

[The Cryptovator]

First of all, rather than hold stable coins I will hold fiat cash. Stable isn't any safer to hold due to UST's history. The rest decision about swap Bitcoin for a stable coin depends on you. It's called trading actually which is mid or long-term. You might lose or gain on trading that's the fact. If you follow random predictions then you will just confuse. I am not saying it won't go 1000$ but it's unrealistic at the moment. When Bitcoin touch $5K then it's a reasonable prediction. However, we can't predict exactly and can't give you any financial advice. You have to decide for yourself.

[Poker Player]

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.

That's what I was thinking, and I find it strange that it has not been commented more in the thread. And if the stablecoin is Terra Luna style even worse.

I would say that as much of a plan as the OP has, he has not done enough research on Bitcoin, nor stablecoins.

The inherent volatility of Bitcoin, if it is downward, should make us buy more, or do nothing. But never sell if it goes down a lot as the history of Bitcoin has shown that to be a ruinous strategy.

[dimonstration]

We have no commitment on holding Bitcoin forever to maintain the price at the current level. I don't see the point of disloyalty when somebody exchange there Bitcoin to stablecoin during bear season since its very easy buy back Bitcoin using stablecoin in case there is already a strong upward movement. I personally convert my Bitcoin to stable coins since 30K and until now. I’m waiting for reversal confirmation before I accumulate again. This save me a lot of fiat moneyand I can buy more Bitcoin now compared when I just hold since 30K. This is nothing personal, I want to have profit so I need to play it smart and used the dumb money as my exit liquidity so that I can increased my Bitcoin holdings dor my future investment.

[Rikafip]

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 knew some people that are wishing for BTC to go below $10k so they can buy more and I don't see them any less fan of bitcoin that those rooting for Bitcoin to go straight for $100k.

Regarding your main question regarding stablecoins, I don't see it as any sort of disloyalty if your goal is to acquire more BTC. I did something like that back in late 2018 when I sold my BTC for stablecoin (iirc price was around $6400) with intentions to buy back, which I did few months later, effectively doubling what I have. I tried to do the same thing few months later, which resulted losing 10% of my BTC. Thing is, I suck at trading so while first timer i managed to profit due sheer luck, 2nd time I panicked and ended up selling low buying high. That lesson was enough for me to never try it again so now I just hold Bitcoin what I have, no matter the price.

[odolvlobo]

But instead of the joy an investor derives after a smart business move, I felt like a betrayer.

Bitcoin doesn't care. Your loyalty is irrational.