Time to Dolphin up! - Selling right now is quite stupid
I know just about everyone is feeling a little down at the moment, not only for the price of Steem itself, but also for the price of cryptos in general. However, let's not forget that this rollercoaster has been just that all along. In the year I've been participating of this space, I've seen the craziest valuations and the ugliest of dumps countless of times.
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I'm trying to catch up with all my favorite youtubers this morning. In his most recent video @boxmining was talking about how possibly OKDex future's are to blame for the dump last friday, and maybe he's right. However, I'm starting to think it's not really that important. Who wins much with that kind of hindsight analysis?
It's not that I'm not appreciate of learning the reasons why we are experiencing a dump, of course I am. It's more that to me that is not as important as understanding that crypto always recovers in the long term. I should clarify, shitcoins as we like to call them, may not recover, and that is a good thing. Good projects, sensible ideas, strong communities, those carry on.
Out of the video my favorite part, or the message that resonated with me, is when he shared the time that he quit. At some point in time BTC had pumped over 1k and then dumped under 300 USD, so Michael (@boxmining) left cryptos all together. I'm sure he feels like traveling back in time and kicking himself on the butt for selling at such losses today, but he learned a very important lesson.
Hence the reason for this post's title. As cliche as it may sound, its time to HODL, not sell. I'm going to do my biggest effort to ride this out, and I hope others join in too. It won't be easy at times, you might even want to find this old blog and insult "the @meno guy" but history has shown that this is how the roller coaster works.
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Meno... Since im back now its time to comment on all your posts. 😂😂😂
I kust wanted to say its really silly that anyone even considers bailing now...
Steem is so, at first glance, unintuitevely wonderfully designed that im actually thrilled that everything is super low. 😂
My last post yesterday made me more SP then the last 5 posts combined when Steem was at 2.60 USD.
At these prices ill be able to hit 1000 SP in no time.
Its funny really. High SBD and Steem- we win!
Low SBD and Steem... We win again. Haha.
Hahahaha that's right my friend, imagine we stay low for a month or two only to see 10 bucks by december but have doubled our SP, that would be so ninja... right?
I wanna be ninja!! :)
Hahahahha, wise way of view things...
You are right Meno even with all the FUD, the talks that cryptocurrency has failed and that the market is so bearish right now is not an indication that the fat lady has sung her swan song.
I have been HODLing my gains and just keeping Steeming
Are you going to sing the HODL gang song? I think you should...
The current situation in crypto world is a plus for the investors, it is only the sellers that panic with the current price...
The best and the only way out is to hold on like you suggested.
Stay awesome friend...
Selling right now is like committing a suicide, the difference is just that the person that commit suicide won't live to see another day. If someone sell now at the time that the price of steem /sbd is going deep someone's wouldn't be able to forgive oneself. HODL is the words now brother.
This is so not the moment to bail now. Yeah I can get that it is frustrating when you might have stepped in high. But stepping out now will not do you any good.
Luckily Im still way higher than where I bought for. I think this is the mental boundary of that it is difficult to accept these bloody days or not. Holding to the max here!
We are also "competing" with less posts. That's definitely a silver lining
That is something I am really noticing. People can find you very easy in these days, and that is a win situation
Hey @meno,
have you calculated your average buy price ?
#HODLGANG
its about 1.62 or so atm so im in the red, but it's all good, i bought a little more last night, I'm not going anywhere
right on...!!
I so appreciate all of the enduring optimism, however, do bear in mind that it is indeed plausible that the "cool-aid" as it were, maybe spiked. Just keep everything in its proper perspective folks, that's all I'm saying... nothing more and nothing less... Yeah, I got skin in the game for sure - but not limbs... I can afford to lose some skin - but I can't afford to lose essential limbs... Just think on that - and proceed accordingly... Peace!
Mav said it all really :-) Just HODL, buy some if you can and sit tight ;-)
correct my friend...
Sir @meno its time to make a song HODL HODL HODL. hehehe I am really hoping at least SBD will go up in 10 before last quarter.
yes, the theme song for users of the platform!!
I say we do it in Reggae style!
I love reggae style sir., but please don't let me dance just let me do the head bang. haha
But Steem is supposed tobe empowering to people in less wealthy nations. Its alright saying hodl, Crypto is not designed to be just a trading chip, its designed to be a real world fiat alternative.
We all need to remember that the narration is not just about traders in first world countries, but is also the tale of impoverished people attempting to improve their lives.For them, this is huge downturn is a disaster.
That's partially correct Nathan, but it also has to do with when you got in the game...
For example, those who started 2 years ago on Steem (super early adopters) are still cruising, even at this prices.
So yeah, this sucks, its terrible, but for those who manage to hold on, to not panic, next year on the next dump (because it will come), they will be in a better position.