Broke Even with My Crypto \ stacker news ~meta

12 sats \ 1 comment \ @BitBit 2 Dec 2023 meta

I have no one that I can share this information without judgement, so here I go.

I finally broke even with my Crypto investments after several years of diverting a portion of my paycheck into cryptocurrency. Several persons I know sold everything when the market bottom fell out.

I just did nothing but kept buying more with every paycheck. I forgot about my crypto until I checked my annual paycheck amounts a couple of weeks ago for my employer's open enrollment.

I have no plans on selling. Honestly, I don't know when I should sell.

Open to advice.

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11 sats \ 0 replies \ @grayruby 2 Dec 2023

Advice is drop crypto and stick to Bitcoin. Not trolling here, this is serious advice. What is your investment thesis on any token besides Bitcoin. Hope? Luck? Greater fool?

Hoping an affinity scam or memecoin is going to 1000x. Hoping that eth will finally find product market fit on it's 5th narrative. Hoping you can time the market is not a sound investment strategy if you are trying to actually save and invest (as you imply since you have been allocating a portion of your paycheck). If you are trying to gamble, then have at it and buy shiba inu and nfts and eth and then locked it up in some defi app for a yield and hope you don't get rugged, hacked or the collateral you are using doesn't drop 50%.

Work hard, add value to the world, get rewarded for it and DCA in Bitcoin. Do this for many years. Don't sell. Learn and understand why you are saving your money in Bitcoin. Get crypto and fiat gains out of your mind.

Focus on providing value and earning and leave the wealth compounding to Bitcoin.