And it doesn’t matter how many gains I’m making out…
…also because untill you sell, and you have the money on your bank account, your are not making any profit.
The story behind my psychologic limitation is quite short and common, on the “cryptoshype” I was involved with mtGox “puff/disappeared” exchange, with some dollars (well euros since I’m italian) so I promised myself to “don’t fall again in the crypto black hole”. But every tentation that is made to be broken, so I fallen in it again some time after. Nothing wrong as long as you are conscious to use the money you can lose, you have simply to put a cut-off in your brain and said “ok, stop here, I can’t put in other money, I’ll put my ideas instead”.
So I bought cryptos, since 5/6/7 years ago, I lived the “crypto winter” in 2017/2018 were the BTC has fallen from $20k to $3k (?) and I’ve psychological survived quite well, with my surprise I have to said. It’s not easy to wake up every morning as see your money disappearing but you survive because you know that your idea will not be able to disappear as easy as the money
Now BTC is touching $55k but is another story, is simply the realization of my thoughts, not the growing of my money.
I have been more feared for the 50+1% attack that “some” Chinese companies (your can read Bitmain) could be involved in some years ago. But if you thought on it, make a 51% attack is a no-sense for a super big company that mines Bitcoins, is like steal to your own bank.
But with all this gains, I have to admit that I sold a little (very little) fraction of my assets, not in order to have it on my bank (indeed they’re still on an exchange), instead in order to help the growth with some -long- trades. About the trading my point of view is: live it growth alone, you will gift to exchanges more in trading fees and stop loss than hodl the crypto and check it some months after. But this is only my opinion since I’m not good in trading and more in thinking . Good traders are good because they’re not emotions driven.
Anyway my psicologic limitation is that I’m affectionated to my Bitcoins! Well, they’re really MY Bitcoins! I own my private key, I can only access to it, I’m the only who know the story behind this alphanumeric characters that identifies my wallet.
No, sorry, I can’t sell it, is like selling a part of my memories and history.
The money I’ve put in it are the money I can loose, also if I BTC will reach $1 (yes, one) again, I want to be in to remember it. Ten years from now I want to say “yes I was there with Bitcoin, I followed the devs, I helped the developing, I was involved in every crash, I was feeling bad and good every bear and bull runs, but I was in”.
And there’s nothing that crypto speculators, politicians or establishment men can do with it. I think a lot of us are in the same situation, we have a psychological limitation where we see the Bitcoin not as “the Bitcoin” but like “my Bitcoin”, is like when you have your old toy or poster in your garage/cellar, it’s totaly useless but you have an emotional relationship with it, and you can’t trash it. Also if and when it will be worth nothing you can’t trash it, you will do anything to don’t trash or lose it. Maybe is a ‘digital hoarder disease’? …I don’t think it,because for a good reason I can separate from my Bitcoins, simply I don’t want to do it untill I’ll see my ideas to became as a standard, untill I’ll say to my friends “I told you that digital curriencies are the future, did you remember it 10 years ago?”. At this point I think (well, I hope) I’ll be able to separate from my Bitcoins, not sell, separate, because I’ll be conscius that have holded this small fraction of an alphanumeric characthers has improved the life of everyone, or at least, has changed the life of us. Maybe I have too much ideals, but is just my thought.
That’s my limit. There’s nothing I can do, I’m know that I can lost (or gain) all, but I want to live and be a part of it.
Yes I’m not happy with crypto speculators, with short sellers, etc… but I don’t blame them, it’s legit and sane for the market and price, if you are not emotionally immersed on it, you see cryptos in order to make (or lose) money, because their value is made by the value we assign to them, so it’s sane some people are thinking that this value is (or will be) zero. In my opinion the’re simply thinking wrong but every thought is legit, only the time will tell if it has been correct or wrong.
From my point of view, I want to support a life change and improvement, a small revolution if saw with the eyes of present, but in 10–20years will be natural for everybody to use digital moneys. Anyway ideas and revolutions are not make by money, instead by determinations of thoughts and people.
In the end is as simply as “here we are”, live on and see what will happen in the future years. I will have no regrets because I’ll can say, in the good or bad, “Ehy I was involved in it” (like as it was for MtGox). And I think, I hope, the core Bitcoins owners are thinking the same, because the more we are the stronger our ideas will be.
PS: sorry for my english, is not my lative language :-)