The struggle is real

[Republikcoin.com]

So, for beginners, I think you should spend much time researching and gaining more knowledge of trading before setting the number of revenue.Investing in Bitcoin and artificial intelligence has risks Everyone cannot “win” and a company cannot guarantee returns in these investments.

Before understanding the risks of any venture, it's not recommended for anyone to make hasty decisions, especially for beginners who still need to gain more knowledge over time. Because everyone who already knows the risks and their own level of knowledge will be more courageous in taking action in any matter, especially in matters like Bitcoin investment and market trading. Therefore, it's important not to be too hasty in making decisions if you have limited knowledge and don't fully understand the risks.

[michellee]

I will take the profits and keep it in stablecoins. I have three options stablecoins, USDT, USDC, and DAI. Splitting into three parts of each stablecoins will be good. I will convert them back to fiat but not all of them because I will adjust the amounts and only do that with what I need. If I keep that in fiat, that will sound the alarm and the bank will investigating my account. They can asks me from where the money and if they are suspicious, they can report that to my government. I don't want that happens so keeping in stablecoins is the good decision for me.

[Zanab247]

I will take the profits and keep it in stablecoins. I have three options stablecoins, USDT, USDC, and DAI. Splitting into three parts of each stablecoins will be good. I will convert them back to fiat but not all of them because I will adjust the amounts and only do that with what I need. If I keep that in fiat, that will sound the alarm and the bank will investigating my account. They can asks me from where the money and if they are suspicious, they can report that to my government. I don't want that happens so keeping in stablecoins is the good decision for me.

Taking profit in a short period of time is not good for those that want to succeed from BTC hodling to turn to a millionaires, because the last price will not be bigger than the future price and you need to be patient to achieve your right dream from BTC hodling. You can be selling your coins and converter them to stablecoin but you will not going to laugh more than the person that started hodling when the price of BTC was low without selling any of his BTC until the price double up in 5 or 6 years time before he or she can trade to smile with massive profits.

I don't know the country you will come from that will make you to convert plenty of coins to fiat money in your bank account, if you convert plenty of millions in your bank account in my country, the government officials will surely trace your identity to know the type of work you are doing to achieve plenty of millions in your bank account.

[Rikafip]

It would be better that you secure your assets in a private wallet, away from central authorities as it would give you full control over them.

You won't have full control over centarlzied stablecoins like USDT and USDC even if they are in your own non custodial wallet because issues can freeze them at any moment and there's nothing that you can do about it.

To be fair, chances of that happening are generally not high, but people using them should be aware of that possibility and act accordingly.

[danherbias07]

It's easy here in our country because there's the most popular digital cash application that accepts cryptocurrencies too. The hurting part is not in exchanging it for cash or fiat, it's the exchange. I understand they are making money, but the exchange when buying and selling is literally far away.
There's no problem turning it into cash, but it's the regret of losing a ton of money that will make you hesitate to withdraw the money. I guess they did that on purpose to avoid people getting in and out. The other problem is that they are doing KYC before you can withdraw a large amount. There's a limit depending on the level of the account.

There's still no privacy going in and out, but if it's keeping it safe as cash, I'd choose it.

[boyptc]

Brothers who cares about privacy, my question is how did you people do your thing when it's time to take profit and hold on to that profit for a while? Do you convert them back to Fiat or what? Or you just hold them in DAI?

The other way is to convert it directly to your fiat. But you take another risk as well like inflation probable collapsing although if you are in a stable country then that minimize that risk.

So, if you don't like to put that up into a stable coin, as I've said about your local currency. You'll have to give up with the privacy.

But that's the sad truth here if we want to retain the profits we made and are getting ready for the next buying out opportunity.

[coinlary]

~

In any case though, I thought that USDT is the best stable coins, but recently they have this history of freezing accounts.

   Tether froze over $182 million in USDT across five wallets on the Tron blockchain...

That's  the whole point of my reply, that they can possibly  freez their coin given out to  anyone from any wallet and at anytime  they possibly  want to pull it off.
The recent news isn't  the first either, there are numerous  freez  that have occurred  over the years :

Tether freezes 13.4M USDT across 22 addresses
 
Tether Freezes $5.2M USDT in Response to Phishing Scams

Tether freezes $150 million in USDT
Among others.Some are actually justified but then, there are some with little to no reason to understand what really happened.

The point is it can happen to anyone so far they or  their government  wants to achive it .

[STT]

I figured that is why Tether is favored by central authorities because its more controlled and available to their laws and surveillance for movement of capital.
  This is the case for dollars and is not the kind of control that is given up easily, even Russia and China fall into the control of the dollar and they very much desire a system to exist outside of its western bias so far as I know.

[luk3Z]

~

In any case though, I thought that USDT is the best stable coins, but recently they have this history of freezing accounts.

   Tether froze over $182 million in USDT across five wallets on the Tron blockchain...

That's  the whole point of my reply, that they can possibly  freez their coin given out to  anyone from any wallet and at anytime  they possibly  want to pull it off.
The recent news isn't  the first either, there are numerous  freez  that have occurred  over the years :

Tether freezes 13.4M USDT across 22 addresses
 
Tether Freezes $5.2M USDT in Response to Phishing Scams

Tether freezes $150 million in USDT
Among others.Some are actually justified but then, there are some with little to no reason to understand what really happened.

The point is it can happen to anyone so far they or  their government  wants to achive it .

Tether freezes again. Where is this crypto decentralization ?
https://coinpaprika.com/news/tether-freezes-72-million-usdt-tron-wallet/
Stable coins = centralization (again) ?

[bangjoe]

When you see threats from afar you take actions to neutralised them before they get close.

The only way to take profit in crypto space is with the help of stable coins.

Assuming I sold Bitcoin at 120k and plan to buy back at 50k ( not a financial advice ) that money will be in stable coin still that stupid or smart opportunity comes along.

The risk here is while sitting on your gains waiting for the next opportunity you woke up to the stable coin freezing your stables, how many people are actually thinking about this? And we said that we are escaping from total control of the government and centralised entities?

There are over 100s of stable coins today while only few maintains high marketcap and high numbers of users, USDt, USDc, PYUSD and few new ones.

For us who cares about privacy we are only left with a choice out of many others stablecoins (DAI), tell me how we are not in trouble already? People who cares about Privacy are left to struggle on their own like the world is against them totally.

Brothers who cares about privacy, my question is how did you people do your thing when it's time to take profit and hold on to that profit for a while? Do you convert them back to Fiat or what? Or you just hold them in DAI?

I often do this, I divide it into several stable coins to safeguard the level of risk on stablecoins, there are USDT, USDC and DAI also included, it is where I store my bitcoin sales to save profits during the waiting period and start from scratch in the bear market.
Bitcoin has a very high fluctuation so we need to manage it to maximize profits, anyway the target is to have a lot of bitcoins, for me relying on DCA from my salary is not enough, so fluctuation opportunities always have to be taken advantage of, in this plan it is really difficult, but when you don't target ATH and ATL as sell and buy targets, such as choosing the safest price to get profits and also buying at a fairly conservative price is a good strategy.

Use risk allocation management in storing your profits, it will be very good instead of keeping eggs in the same basket.

[jossiel]

Just take in fiat with the amount of profit you're satisfied. I think it still feels different when you're happy holding it into your hands, the cash profit that you've waited for a very long time.

And as preparation for the bear, keeping in DAI or any stable coin should also have it.

So maybe 50/50 just to feed that satisfaction during profit taking in the bull run is enough but the question is did op do that?

[coinlary]

Tether freezes again. Where is this crypto decentralization ?
https://coinpaprika.com/news/tether-freezes-72-million-usdt-tron-wallet/
Stable coins = centralization (again) ?

It was never decentralised luk3z. You working for Tether or something?   or you are trying to get a statement  from me . Lol. I thought what I wrote was clear enough  though.

There was no valid comment on the current freeze, they just wake up today and come up with "yes, this address is fishy. Let's seize the funds ".

Sure they may not do it all by themselves,  there could be a request from authorities. That's a lot of power and complying to request shows that if they decide to ban and trap crypto users someday, anyone holding USDT or other similar stablecoins will lose part of their networth.

[Wiwo]

It would be better that you secure your assets in a private wallet, away from central authorities as it would give you full control over them.

You won't have full control over centarlzied stablecoins like USDT and USDC even if they are in your own non custodial wallet because issues can freeze them at any moment and there's nothing that you can do about it.

To be fair, chances of that happening are generally not high, but people using them should be aware of that possibility and act accordingly.

At this point, one have the choice to either choose between your taking profits from bitcoin into stable coins and lose your privacy.

Or you keep holding on to your bitcoin in your personal wallet and be in charge of your financial freedom without any third-party involvement like freezing USDT stablecoins.

Choose between bitcoin or stable coin, its a matter of choice and needs.

[l99l]

Even though I value privacy, like everyone else, I sell USDT and USDC when it's time to make a profit.
I also diversify in stablecoins. Sticking to just one stablecoin makes me uncomfortable. Trading while feeling uncomfortable isn't very good, so a solid foundation is better. To be honest, I didn't know much about Dai, but I can say it has caught my attention now.

[Mame89]

Just take in fiat with the amount of profit you're satisfied. I think it still feels different when you're happy holding it into your hands, the cash profit that you've waited for a very long time.

And as preparation for the bear, keeping in DAI or any stable coin should also have it.

So maybe 50/50 just to feed that satisfaction during profit taking in the bull run is enough but the question is did op do that?

I do both when taking advantage of bull markets when I've achieved my Bitcoin investment goals. I withdraw some of my funds to fiat because it's the anticipated profit, but I keep the rest in USDT to prepare for a bear market.

Cashing out to fiat is also a precaution as it's always recommended not to keep all assets in one basket. Furthermore, holding in USDT isn't very secure as it can be frozen at any time. Therefore, if you have large assets it's best not to hold them in USDT for too long. I don't understand much about DAI, but according to recommendations from others, it's safer than USDT, so it might be the best choice. Everyone has their own strategy, but I personally prefer to split my profits, 50% in fiat and 50% in stablecoins. For me, this strategy makes sense and is a fairly balanced approach. This helps me secure real profits while remaining ready to take advantage of opportunities to take advantage in the event of a bear market.

[Hewlet]

Brothers who cares about privacy, my question is how did you people do your thing when it's time to take profit and hold on to that profit for a while? Do you convert them back to Fiat or what? Or you just hold them in DAI?

In most cases, before taking profit, there's supposed to be a plan in place in how to utilise the profit into something tangeable and not necessarily leaving it in a lesser form that though stable isn't better than bitcoin. Most times, when there's a need to take profit, I Imidiatly use It to solve a major need. If the profit is small, then I just leave it that way to continue compounding.

The down side is, when You don't take out profit when the price is at it peak, You normally will feel uncomfortable when seeing your asset dropping down again. Leaving your asset after you've attained a certain level of profit is always good if you're willing to wait for long depending on when things recovers again.

[okorieemmanuel]

Brothers who cares about privacy, my question is how did you people do your thing when it's time to take profit and hold on to that profit for a while? Do you convert them back to Fiat or what? Or you just hold them in DAI?

In most cases, before taking profit, there's supposed to be a plan in place in how to utilise the profit into something tangeable and not necessarily leaving it in a lesser form that though stable isn't better than bitcoin. Most times, when there's a need to take profit, I Imidiatly use It to solve a major need. If the profit is small, then I just leave it that way to continue compounding.

The down side is, when You don't take out profit when the price is at it peak, You normally will feel uncomfortable when seeing your asset dropping down again. Leaving your asset after you've attained a certain level of profit is always good if you're willing to wait for long depending on when things recovers again.

You are correct. Let me shed small light into this topic. For you to take profit your gains, first mark the spot, then make sure price have failed to make another higher high or multiple rejection on a particular level .... Then plan to do some DCA buy with your new profit below this line such that even when you add the margins and charges, you make profit regardless of the future price action. Using your DCA BUY, and monitoring price action making successive lower low, you can sell off, and buy at a lower low. When price pass your first SELL, you then BUY ALL .This strategy is very technical and needs a lot of practice. Use a demo account first.

[Rustam Meraj]

​To be honest, I do not think algorithmic alternatives such as DAI are perfect solution anymore either with the amount of centralized tokens that back their respective safety pools. In times of market corrections, when keeping your money is most important, looking to privacy centric decentralized protocols, peer to peer off ramps or even physical goods will become crucial to avoiding total system capture. With current market, privacy focused investors find themselves very much alone and must choose between absolute financial compliance and complicated operational security.

[Dunamisx]

When you see threats from afar you take actions to neutralise them before they get close.

Taking action as well as the nations free one to combat against such calamity before arriving is important, instead some will stand and be watching to see how it will come, there are things in life we need to put in our action and help out with the situation in other not to make it worse, but when we feel to perform our role, things easily get complicated the more and we see the danger thereof.

[EarnOnVictor]

Brothers who cares about privacy, my question is how did you people do your thing when it's time to take profit and hold on to that profit for a while? Do you convert them back to Fiat or what? Or you just hold them in DAI?

Perhaps you should leave your money always in Bitcoin if you are looking for some absolute control. In this world of cryptocurrency, you will almost likely have to choose from the volatility and privacy reliability at some point. And I wonder why you used  the unreliable DAI as an example here as well

Well, I was being kidding about the first remark about Bitcoin only. You might want to use LUSD if your fear is about the government or any one freezing your coin until you have the chance to buy your Bitcoin back.