Do you have an exit strategy for Litecoin, in case it goes against your expectations? It has been in a downtrend for over 6 months now. At what point (time point or price point) would you sell your LTCs? Suppose, it keeps going down to $5, $3, $1? Would you sell then? Because you pose yourself as a serious investor/miner per your own words, you should have an exit strategy of some sort. Could you share it?
My "exit" strategy is to hold long. A very large majority of the LTC I have was acquired when they were worth pennies each, so like a few other long timers here even $2.00 it still represents a huge profit.
The way I look at it is, if I acquired or mined LTC when it was only bringing in $2.50 for a whole block back then and if LTC drops to $2.00 today it is still worth $100 a block, I'm still in the profit at $97.50 a block.
But considering it is worth about $450 per block at the moment, I'm still up an average of $447 per block and I can assure you I still has me a "few" blocks LOL
Strategy is very long, I'm not selling. It will comeback.
~BCX~
Cryptos within 10 years will probably be worth $1 trillion. $2 trillion investment gold, $500 billion global remittance (cryptos do it better), $20 trillion retirement savings accounts (cryptos do better), $97 trillion investments, $400 trillion derivatives (coins like NxT have asset exchanges and even their own derivatives now).
Dot come bubble was $7 trillion in late 1990s.
Reality is all coins would benefit if cryptos hit $1 trillion. Maybe BTC (or other coin) might be worth $700 billion, but something like LTC could be $200 billion and then many alts worth $10 - $50 billion. LTC could hit $5K - $10K per LTC in future.
Cryptos is still relatively new. Look at the Government attention on Cryptos and yet it's only $10 billion industry... Madoff's scam (which consisted of scamming bankers and rich New Yorkers) was over $60 billion. Bitcoin is this small fly on the wall and yet look at governments who are currently revising their tax codes because THEY KNOW crypto currencies will be huge in the future.
Bitcoin has less capitalization than Drop Box but you don't see Government harassing Drop Box.
