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ive only been in the game since early 2017. started mining about 3 months ago, wish id jumped in the pool sooner. once i started hashing away, i REALLY started to fall down the blockchain rabbit hole lol. i bought my first bag of btc a 3k, ltc sub 50 (man, that was such a good buy!), and eth sub 150s. never threw in any more fiat after that. i started trading with gains, but had i just hodled, my overall %age growth wouldve been far greater. i picked up some really dumb bags like funfair, vertcoin, monacoin, tenx, civic, einsteinium, potcoin, numeraire, and a few more. im still holding those bags hoping they get to the bubble like valuations they got pre 20k btc correction.
had a question for you. do you think atomic swaps will drive up the value of coins like vert and mona? i could do a search, but just been busy.
atomic swaps will be huge - see DCR-LTC atomic swap demo - it will be good plus for any coin that has that feature.
Rule #1 .... always HODL -- more than 3 months for long term coins.
Rule #2......You lose money only when you sell -- stay invested
Rule #3.... There is no such thing as a bad profit - don't be greedy biggest rule to understand right here
Rule #4..... Never trade when drunk, after an argument with spouse, death of family hamster...
Rule #5..... a good portfolio have no more than 4-5 coins - easy to manage -- KISS
Rule #6 .... always take some small profit when coin goes all-time-high --- everybody buys, you sell
Rule #7..... Don't sell the family Volvo to fund your crypto trades... invest in what you can afford
Rule #8..... Always have a emergency USDT or BTC stashed somewhere for good buys during dips
Rule #9.... Day trading is hard and for the experienced, 99% traders lose money. Think Investing not Trading.
Rule #10.... Ignore bitcoin and crypto currencies news from main stream media (CNBC, ABC, CBS, CNN etc)
understand profit and its value.
understand
gear = coin
coin = gear.
I am selling gear now
a lot.
I kept some in coin.
and a lot in cash.
why is this?
By selling a 1070 at 500 say a 50 dollar markup and cheaper then anyone. I make very little profit maybe 20 bucks and the mining it did say 100
so I turned 450 usd into 570 usd
but I purchased when coins were 19000 and sold when coins were 11000
so I did magical profit the best possible
fiat profit and btc profit
450/19000 = 0.023684 btc
570/11000 = 0.051818 btc
so yeah $450 to $570 fiat is 26.67% profit in fiat
and 0.023684 btc to 0.051818 btc is 118.78 % profit in coins
understanding this chance to sell gear at the right time is very very very very very important.
the beauty of this is I am helping out miners as I am selling at cheaper prices then anyone.
I saw this unfolding in JAN and continuing into FEB.
and it all follows on the profit taking rule number 3. many do not understand it. I got very lucky here with the gpu shortage and i was not greedy on the fiat end at all. Thus others can turn some Profit.
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