What do you do when your initial investment in a project goes 8x in 9 weeks?
Source
I know I haven't been as active as I used to be the last couple of months. Put the blame on the beautiful Greek summer which is still in full play which was exactly what I needed after the ongoing COVID-19 farce.
This short break from writing on Hive made me think of where we are heading at, what does the future hold for our community, which are our expectations, what are we really trying to accomplish and which personal goals are we trying to reach.
Hive isn't just me, nor just you. It's thousands of us together who might not share the same vision but I am pretty damn sure that everyone would put their personal interests and ambitions aside for the greater good.
Greater good --> mass adoption.
That being said I am more than pleased to see posts from great influencers and developers of our community brainstorming and in @fbslo's case put in the necessary work in such short period of time to put HIVE in front of more eyeballs. That is a great step forward if you ask me.
We wouldn't be having all these ideas regarding Hive's future if HIVE was sitting among the top 10 projects nor if its price was at 20$...right?
From an investor's perspective, yeah according to my stats on Hivestats.io I am more of an investor than a blogger as you can see from the screenshot below...I'd rather not earn a single HIVE token till the end of the year in the name of mass adoption.
Math never lie...15.5K HP are my all time rewards as an author on STEEM/HIVE plus 10.2K HP my all time curation rewards = 27.7K HP. The remaining 72K HP that I am holding comes from hard earned money. It might seem an insignificant amount to really big investors around here but trust me, it's a big thing for someone living in Greece with an economy as broken as ours.
Putting your money where your mouth is ya said..?
With that said, and just because I feel that my stake is big enough to support dedicated members of our community whose posts usually get an 8+ on a scale from 1 - 10, I had decided to not buy any more HIVE tokens and instead diversify as much as I can and be ready for a possible bull run.
Bull runs don't last forever and if one misses the chance they might have to wait another 3 - 5 years.
And trust me I am not willing to wait that much...
So what I did was to invest in other hidden gems. Gems like HIVE...Some would call them shitcoins...Don't ask me which ones...I ain't gonna tell because I don't want to jinx it...
The thing is that ever since I started diversifying my portfolio 2 of these projects have gone up 8x and 6.5x respectively since I jumped in.
For a moment I thought of breaking my promise, sell, take the profits and buy a shit ton of HIVE. That would turn me into a whale overnight.
But then again if history repeats itself, the specific projects could go 300x+ up when the bulls are finally awake...and most importantly I won't go through the stake / unstake procedure...
I know that there are way more experienced investors / traders around here so any piece of advice is more than welcomed.
What's it gonna be? Grab those profits and make my life easier for the next 2-3 years or let things play out the way they are for a chance of changing my financial status once and for all?
Have a great one peeps. And stay safe!
Cheers.
Since you're putting in hard earned money you're entitled to the decision you deem profitable to you. It's all about the bull anyways we've waited long enough
At times it feels like we ain't gonna see those bulls ever again...
It's obviously going to come but then it's time it might take but then time sometimes seems too long
And some poshing
But thats how you make them pump... you tell people about them. :)
I dunno about the sell part. Depends how much you believe they can go up further. Whats their market cap. You can make a ballpark guess.
No no no...ain't taking that risk. hahaha I am more than happy to see those coins going up against BTC every single day.
Flying under the radar technique
Whoah!😮are you kidding me? That investment you've made is pretty huge to me!
I couldn't even think of the possibility that one day I would be less than 800hp away from 100K HP.
Not even in my wildest dreams. Dream big buddy
Yea man....been coming across some motivational posts throughout this week and it been worth it!
You sell held or more and let it ride. IMO
Posted Using LeoFinance
I think you've identified one of the hardest problems in crypto (and maybe trading in general) - i.e. when should you sell? A lot of that really depends on your personal situation, risk tolerance, how much you have invested, etc, but what I generally do in situations like you're describing is to sell half. That way it works out pretty well in either case - if the price continues to climb you still get some nice benefits, and if it falls then you've still cashed out a decent amount and made some nice gains.
Either way, you should definitely take your time to congratulate yourself. Getting those types of gains in that time frame is pretty incredible, even for crypto! Maybe you should start a crypto "picks" service and charge a nice subscription fee for people to join and get the inside scoop on your next 8x investments :-)
Hehe. Trust me those two picks are probably my only “wins” so far in general. I’ve been rekt countless times therefore my clients would most likely think of ways to kill me in the end.
Not an option 😂
Never a bad idea to take profits especially in crypto. A lot of pump and dumps.
If you were able to ride a quick 6-8x, might be smart to take a little off the table.
Posted Using LeoFinance
I guess you're right. Greed in never a good ally
Greed and fear drive the market.
Being able to pull oneself out of the emotional roller coaster in the market allows people to make money.
Posted Using LeoFinance
It depends on how you feel about a project, if you have faith in it, you let it ride. A smart investor would take 1x out be even and leave the gravvy on the table.
If it's a fluke or something that was just throwing mud on the wall, likely take it out.
I do have a lot of faith in both of these projects but I guess you're right mate.
Taking back your initial investment in never a bad idea
Gamblers use the same technique, if they win their money back they just gamble with the gravvy, but human nature always kicks in.
Human nature is flawed...
There is a secret though.
˙ʇᴉ ʇnoqɐ ƃuᴉɥʇǝɯos op oʇ ǝɹɐdǝɹd puɐ pǝʍɐlɟ ǝɹɐ noʎ ʍouʞ
You know ...you need to teach me how to do this thing.
Stand on your head when responding. Sometimes I do it when voting.
Hahaha
Now that's a solid reason to justify some downvotes. I'll start working on that
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