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When do you plan to liquidate?

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  • 19-11-2020 10:25pm
    #1
    Lexio7
    Registered Users Posts: 24 ✭


    Many holders of crypto claim they will never sell their assets.

    Surely everyone has a price.

    For me personally if the holding of coins I do have cover the balance of mortgage then that would most likely push me sell.

    I am keen to get other peoples view on this?


Comments

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    #2
    joe250
    Registered Users Posts: 355 ✭✭joe250


    Same as me. If I could clear my mortgage I would sell.


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    #3
    KilOit
    Registered Users Posts: 2,983 ✭✭✭KilOit


    First post and in obscure crypto forum talking about cashing out, must be revenue


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    #4
    Lex Luthor
    Registered Users Posts: 11,220 ✭✭✭✭Lex Luthor


    Converting crypto into cash is like turning gold into rocks


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    #5
    Lexio7
    Registered Users Posts: 24 ✭Lexio7


    Lex Luthor wrote: »
    Converting crypto into cash is like turning gold into rocks

    But this is my exact point.

    Investors who hold gold sell up when the price is right.

    You have to eventually sell that crypto to get the lambo lol.


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    #6
    ted1
    Registered Users Posts: 23,260 ✭✭✭✭ted1


    Lex Luthor wrote: »
    Converting crypto into cash is like turning gold into rocks

    What use is gold? Cash is king


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    #7
    Mr_Muffin
    Registered Users Posts: 917 ✭✭✭Mr_Muffin


    As soon as I recoup what I paid for them.

    I think it's a hype game to be honest, with the lucky ones being the first adopters years ago who have seen a huge increase in worth. How long have most cryptos been around now, and how many of them are actually being used for something?


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    #8
    Irish_rat
    Registered Users Posts: 2,554 ✭✭✭Irish_rat


    Medium to long term. It's never going away


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    #9
    Whelo79
    Registered Users Posts: 2,649 ✭✭✭Whelo79


    Mr_Muffin wrote: »
    As soon as I recoup what I paid for them.

    I think it's a hype game to be honest, with the lucky ones being the first adopters years ago who have seen a huge increase in worth. How long have most cryptos been around now, and how many of them are actually being used for something?

    Anyone buying now is still an early adopter. People buying BTC in March have now nearly 6x their investment. Where else do you get those returns?


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    #10
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    Lexio7 wrote: »
    Many holders of crypto claim they will never sell their assets.

    Surely everyone has a price.

    For me personally if the holding of coins I do have cover the balance of mortgage then that would most likely push me sell.

    I am keen to get other peoples view on this?

    I think the first question is: what do you plan to sell it for?

    If there are plans to clear a mortgage or acquire other assets with the proceedings, then yes people can start thinking of what would make them sell.

    If it is just to hoard cash at a time when central banks and governments are on a mission to destroy the value of currencies ... I am not sure it ever makes sense (I am not selling means people should never sell, but I think before thinking of selling to think of what they think is a good way to store their wealth).


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    #11
    Dohnjoe
    Registered Users Posts: 17,775 ✭✭✭✭Dohnjoe


    Lex Luthor wrote: »
    Converting crypto into cash is like turning gold into rocks

    Yet everyone I know has a cash-out point. It's why the market dropped 95% in 2018 because many liquidated. It's why we endlessly talk about the cash value of cryptos and only "get excited" when the cash value goes up, rarely if there's some technical break-through or development (and even then it's just hopium for an upwards movement in cash value)

    TLDR: the vast majority of crypto holders are here for cash gains


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    #12
    makeorbrake
    Registered Users Posts: 4,664 ✭✭✭makeorbrake


    Mr_Muffin wrote: »
    How long have most cryptos been around now, and how many of them are actually being used for something?

    Development is incredibly hard and many folks don't have the patience to go along with that. How long did the development of the internet take? How about AI tech? I'm not including you in that as if you've held through the trough of 2018/9 to get here, then more power to you.

    As regards it being a hype game, I'm not seeing much hype this time round...unless you mean the ongoing shilling within crypto circles - I don't think we'll ever be free of that and you have to try and read between the lines on that (with regard to what makes sense and what doesn't).


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