HOW LONG CAN YOU GO?
I wrote before about one of the bigger issues in crypto, that being investors who want instantaneous returns and investors who are willing to wait 5 or 10 years to allow their investment to fully or partially mature.
The majority of coin holders have high expectations. They want that get rich quick investment and will buy and hodl for only short periods of time before selling out for the next "Great One" that comes along.
On Publish0x, I'm going to ask my readers a question.
Pick your favorite bag of alt coins. Whichever that bag might be, now ask yourself, "Where will this coin's value be in 2025?"
I'm going with DGB Digibyte.
Right now, DGB is below 0.01USD. I'm totally going out on a limb here but let's imagine DGB hits 0.25USD in 2025.
That would almost make me a millionaire. Pretty close actually, but what if I held out until 2030? Let's say it hits $2.50USD. Then I'd be a multi-millionaire.
Question is, lets say in 2022 it hits 0.10USD and I'm virtually broke and I could use to money to buy a new car. Do I sell it? It would be tempting, almost necessary actually. In 2022, I would have no idea that in 2030, I could buy a small island and retire...
So there's that delema.
Long-term investors know how it can be. I remember once investing in a medical group for 0.23USD a share. Bought 1000 shares. Then a few months later we hit hard times and I sold them all for a marginal profit, somewhere around 0.39USD per share.
3 or 4 months later that same stock hit 19.57USD. I wanted to kill my wife and jump off a bridge. (Just kidding) but the fact is, I did what I had to do. I do and don't regret it. I wish I kept those shares but it also paid our bills when we needed it. I was thankful for the return I made but I will always think... "What if I had sold my Jeep" 😆
Whatever coins you hodl, imagine the possibility of the return in 10 years before you sell them for a 6 pack of Budweiser and a box of poptarts.
Let me know what you think in the comments. Are you in for the long haul or do you expect great returns in 6 months, or next week. If you do, perhaps investing isn't your bag.