The struggle is real

[Dunamisx]

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?

Traders will always hold their assets in usdt including their profits realized at the same time, this helps them to be able to buy another coin of their choice they wanted to trade without having to go through the stress of P2P when they already have a stable point to exchange for it, using a stable car also makes it easier for you to know the amount of income you have end from your trading and as we already know everything is being expressed in relation to the USD value.

[Oshio-man]

The most important thing is that make a choice that will make you happy when you release your bitcoin, which is the reason why everybody have different mindset on when to take income or not to take income, the struggle is purely real if truly you want to become a successful man or woman in the bitcoin investment because you have to invest in bitcoin which is the king among other cryptocurrencies and it will open opportunity for you that will make you to store more funds in bitcoin than other cryptocurrencies, if you are a newbie and you want to lay down a good foundation on bitcoin, make sure you purchase when the price is low in the market and sell when the price is high.

[cyberninja2]

I accept that patience is one of the highest advantages an investor can have at the same time I don't think every decision to exit the market come from frustration. Sometimes people leave because their financial objectives or circumstances have changed the key factors is to invest with a clear plan manage risk properly and key learning from both win and from both wins and loses instead of making emotional decisions. So investors should know all this factors before investment.

Patience has a broad meaning making it essential for anyone investing in Bitcoin. It's often not what they want so when things go wrong it's crucial for them to have patience. As you mentioned getting out of this situation isn't a good thing, but rather because things didn't go as they wanted they decided to abandon what had caused them to feel like they were failing in their investment.

Patience isn't essential for anyone investing. Behind the profits they earn there are risks that always surround them. In this discussion it's also important to convey the risks inherent in investing so that they understand and accept that it's part of what they'll have to face going forward.

[AmaGold70]

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?

Well, I understand that in every business their is a level of risk involved. When you sell your bitcoin is either you leave it in stable coin or you convert it to fiat currency, but in a situation whereby you want to take profit, most people convert to fiat currency so that the money can better be spent while very few persons might also like spending their profit in stable coin.
There are many stable coins in the market, and while converting your bitcoin to stable, if feel some stable coins can be more preferable to others, and as for me I prefer tether USDT and USD to using any other stable coin , and when it comes to taking profit I also prefer converting to fiat currency for better spending.
More also, in a situation where you want to reinvest your capital, and profit when Bitcoin price dips, you can leave your money in stable coin like USDT or USD to avoid lost of value, and fiat currency depreciation.

[tabas]

Patience has a broad meaning making it essential for anyone investing in Bitcoin.
....
Patience isn't essential for anyone investing.

Why it isn't essential for investing? IMHO, it is actually needed and important for an investor to be patient. Because having not such will make you panic and confuse your plan of investment. As the snippet that I've taken from what you've said, you're contradicting what you've said from the beginning that it is essential for all investors. And that's why I am quite confused of what you're saying if it's really an essential or not. But I think that you've just mistaken it and you'd stick to what you've said from the start that it is an essential as we invest.

[348Judah]

There are many reasons to where we are in cryptocurrency and the advantage we see in its depends on how we engage every processes from it, but I always say this that people are in crypto just to make two major targeted achievements, to make profit and to have financial security and control over our assets, so we should be mindful in any engagement we do in cryptocurrency to fall within this same objectives with crypto adoption.

[suzanne5223]

Patience has a broad meaning making it essential for anyone investing in Bitcoin.
....
Patience isn't essential for anyone investing.

Why it isn't essential for investing? IMHO, it is actually needed and important for an investor to be patient. Because having not such will make you panic and confuse your plan of investment. As the snippet that I've taken from what you've said, you're contradicting what you've said from the beginning that it is essential for all investors. And that's why I am quite confused of what you're saying if it's really an essential or not. But I think that you've just mistaken it and you'd stick to what you've said from the start that it is an essential as we invest.

+1 to what you said.
And aside from investing.
Patience is one of the most essential qualities to thrive in every setting, despite how intelligence and knowledge are great help, especially in the volatile market, and no matter how knowledgeable anyone is about this market, if dont have the needed patience, such a person will always miss the opportunity to make the needed profit. Besides, anyone can thrive in every setting with enough patience and discipline.

[cyberninja2]

Patience has a broad meaning making it essential for anyone investing in Bitcoin.
....
Patience isn't essential for anyone investing.

Why it isn't essential for investing? IMHO, it is actually needed and important for an investor to be patient. Because having not such will make you panic and confuse your plan of investment. As the snippet that I've taken from what you've said, you're contradicting what you've said from the beginning that it is essential for all investors. And that's why I am quite confused of what you're saying if it's really an essential or not. But I think that you've just mistaken it and you'd stick to what you've said from the start that it is an essential as we invest.

After I re-understand what I have said that I do not need to say such a thing and I apologize for the mistake that I expressed and it is true that patience is indeed something we must have because many things if they happen in planning investments especially in investing in Bitcoin there must be a time where the desires that we achieve or do may not happen as we want so it requires patience in dealing with situations that are sometimes very natural to face patience so this is necessary for those of us who invest and once again apologize for my mistake in my statement yesterday which has confused many parties which makes me have to clarify again on this topic and the point is that patience is necessary in dealing with what happens to the situation in investing in Bitcoin.

[maydna]

Besides of using stable coins, you can withdraw the profits in fiat and save it in your bank account. Many people doing that while waiting for the time the price down. But you can splitting the amount to some stable coins so you can reduce the risks and no need to feels worry. I convert my profits to fiat and use USDT, USDC, and DAI but I leave some Bitcoin in my wallets and waiting for the next high prices. You can finds which stable coins that makes you comfortable and not worry so you can feels safe keeping your profits in stable coins.

[tabas]

Patience has a broad meaning making it essential for anyone investing in Bitcoin.
....
Patience isn't essential for anyone investing.

Why it isn't essential for investing? IMHO, it is actually needed and important for an investor to be patient. Because having not such will make you panic and confuse your plan of investment. As the snippet that I've taken from what you've said, you're contradicting what you've said from the beginning that it is essential for all investors. And that's why I am quite confused of what you're saying if it's really an essential or not. But I think that you've just mistaken it and you'd stick to what you've said from the start that it is an essential as we invest.

+1 to what you said.
And aside from investing.
Patience is one of the most essential qualities to thrive in every setting, despite how intelligence and knowledge are great help, especially in the volatile market, and no matter how knowledgeable anyone is about this market, if dont have the needed patience, such a person will always miss the opportunity to make the needed profit. Besides, anyone can thrive in every setting with enough patience and discipline.

That's true, based on our experience it is our patience that pushed us to this point. Because when we're new, most of us have no patience and kept on panicking whenever the market has been so volatile. But thanks to it, we've learned a little by little and with every single experience we've gained, it pushed us further to where we are right now.

After I re-understand what I have said that I do not need to say such a thing and I apologize for the mistake that I expressed and it is true that patience is indeed something we must have because many things if they happen in planning investments especially in investing in Bitcoin there must be a time where the desires that we achieve or do may not happen as we want so it requires patience in dealing with situations that are sometimes very natural to face patience so this is necessary for those of us who invest and once again apologize for my mistake in my statement yesterday which has confused many parties which makes me have to clarify again on this topic and the point is that patience is necessary in dealing with what happens to the situation in investing in Bitcoin.

It's okay, we all make mistake and I've tried to understand what you've said and it's an essential thing as you've said. Being patient is required whether we're an investor or a trader or just someone who's studying the markets.

[tygeade]

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?

This advice is for those who will trade, but remember that those who are ideal and long-term investors will not only convert their money into Bitcoin. Because they are holding Bitcoin for a long time, they will not take the help of USDT in any way, that's exactly what I do, I have converted my money into Bitcoin.
Because I do not trade, I do not need to keep USDT, USD. But for those who trade, you will follow this strategy correctly, but for long-term Bitcoin investors, it is different.

Converting bitcoins back to fiat would simply ruin our privacy. Even fiat transaction can be monitored and governed by the central authorities. If we convert bitcoins back into fiat, we will have to show PnL statements in order to comply with the tax authorities. That is a real challenge for me so instead, I would prefer holding DAI once I sell bitcoins. I can always buy back bitcoins with the DAI so it seems a much better option for me instead of going for fiat transactions. I would avoid linking my fiat accounts with bitcoin at all cost.

Even if you do not trade, you can still consider holding a reserve in USDT which you can use to invest in bitcoins or any other coin. That way, you can quickly enter the markets if you find an opportunity. With fiat, it will take some time to deposit and start trading. USDT or DAI is the perfect solution for me.

[Bitcoin_people]

Many people are worried about privacy but when they sell them to withdraw their profits, they do not remember these words. Rather, most people sell them through USDT, and at that time they do not pay much attention to these things to protect privacy. However, if a person is more concerned about protecting his privacy, then of course he should keep his money in DIA, then he will be very safe. Although I do not pay much attention to such things and I am not trading much on DIA and I do not keep my money. However, I have kept Bitcoins and when I need any fiat currency, I sell them through USDT and meet my financial needs later. However, if we pay maximum attention to privacy, then of course we have to transfer our money to a safe place, then it will be safe.

[TastyChillySauce00]

Hold them in DAI in a hardware wallet if you are concerned with exchange or stablecoin issuer freezing your wallet. There are limited amount of stablecoin that don't implement blacklisting.
If you don't want to use DAI your only option is to diversify across best stablecoin so in the worst case scenario where one of them are freezing your money, you don't lose all your money or simply convert them to fiat and put it in your banks like before stablecoin even exist.

[cyberninja2]

That's true, based on our experience it is our patience that pushed us to this point. Because when we're new, most of us have no patience and kept on panicking whenever the market has been so volatile. But thanks to it, we've learned a little by little and with every single experience we've gained, it pushed us further to where we are right now.

However not everyone possesses this patience so it depends on each individual's ability to deal with situations that don't go as they would like. This is where patience is tested. I once witnessed a friend of mine trading and now he consistently manages to make profits even exceeding his expectations.

So what I need to convey is that the patience he had was certainly not there at all and why I said that at that time he had several times succeeded in struggling in the trading he did so that in the end he dared to put in the trading which was quite large so he thought this would definitely experience the same thing as what happened before where he always succeeded in reading the movement of the market graph but at that time he experienced a loss where after he did the trading of course the market declined quite drastically so that the patience he had was not there at all so that there was a conflict with the family which ended up choosing to no longer live at home so the conclusion is that the patience we need is only when we are in a situation that does not support what we want but we still have extraordinary patience in dealing with it and not only for the benefits we have patience but when it happens with that thing that we really have to accept.