I once got into a discussion with a fellow on some forum (I don't remember which) about why I should determine the value of my investments in terms of ETH or BTC. We were talking specifically about Aragon that I purchased with Ethereum. My argument was that the value of my Aragon tokens had nearly doubled. I bought in at $1.35 per coin and put all of the Ethereum that I had on Bittrex into it. At the time I believe Aragon was around $2.60.
His argument was that since the price of Ethereum when I bought the Aragon was ~$130 that I was spending about .01ETH per ANT token. When the price of Aragon was at $2.60 (at the time of this discussion) the price of Ethereum was at ~$325. That meant the ANT that I bought for .01ETH were now worth .008ETH each, and I had lost money.
I understood what he was saying, but he wouldn't even listen to my side and the conversation got cut short. I saw something earlier today that reminded me of this interaction.
The mindset between traders and investors is just different. He saw it as me losing .002ETH per token, I saw it as gaining $1.25 per token. If I would have held on to my Ethereum, at that moment would I have more dollar value? Yes, of course. But the fact of the matter is that I bought that Ethereum specifically for buying Aragon. Had Aragon not piqued my interest then maybe I would have invested in another coin that didn't do good, or not bought any crypto at all.
We were both right but just looking at it from different perspectives.
So when I see somebody say something along the lines of, "It was 10000 sats before, it should get back to that", I personally don't think it's a fair comparison, because I'm not a trader. Being 10,000 satoshis when Bitcoin is $1800 is a lot different than being that much when Bitcoin is at $4300. That's more than doubling the market cap. But when somebody says "It was $.27 before, it should get back to that" that makes perfect sense to me.
I do sell coins sometimes to buy other coins, but that is more because I stop believing that a specific coin is for me personally. I actually sold all of my Aragon because, while I still think it's a good project, It just wasn't something that interested me personally. I'd rather be invested in things that can make me money AND things that can impact me in some way. Can I use it? Does it serve a purpose to normal people? Aragon can be great for small to medium sized businesses but not for me personally.
So if you are investing for medium-long term gains, don't compare the price to the crypto you bought it with. That will make you feel like you made a bad choice. If I were to compare every one of my coins to the BTC/ETH value when I purchased them I think I'd rather just keep the Bitcoin and Ethereum.
These are wise words. Invest 1% of your net worth in BTC.
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I've only put less than $10,000 into crypto in the past year but it's value now is almost on par with my retirement accounts after 10+ years of contributions.
Gotta diversify
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Wow, you can't argue with those returns. 1 year vs 10, Nice work.
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I got super, super lucky buying Dash at $7 and ETH at $10, and not even a lot at that. I still think there are coins that can go 10-20x in the next year, it's my quest to find them. I have some serious contenders.. that's where my money is going for now =)
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ETH at $10 is amazing. What ones have you got your eye on at the minute? Do you think Neo can get to ETH levels?
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I have large (to me) stakes in Dash, Ardor, Vertcoin, Ark and Lisk. To be 100% honest I haven't looked into Neo much. There are other big ones that I think will be good (Neo, NEM, Litecoin, Storj + 20 others) but I only have so much money. I'd rather take a big gamble on 5 coins than smaller gambles on 20 coins.
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Similar to mine. Lisk seems to be doing good at the minute. Neo is a good option for the Neo Gas you can claim simply by holding Neo.
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This post has received a 3.12 % upvote from @booster thanks to: @oregonpop.
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I am one of the people who do my calculations in Bitcoin. I started out doing them in dollars but I have switched.
It all has to do with one simple question: Do you believe that Bitcoin (or Ethereum in this case) will be worth more in the future than it is today?
If the answer is yes, then it makes more sense to accumulate BTC/ETH, because every gain you make today can be amplified many times over because of BTC/ETH price rise.
Making 2000$ worth of usd is great and all, but if you made 2000$ worth of Bitcoin I am pretty sure it's going to be worth $10K if you wait a year or so. But, like I said, it all depends on how convinced you are of the long-term successes of Bitcoin and Ethereum. If you think they might fail, then it's better and safer to just take your profits as dollars.
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Personally I don't think btc/eth going to fail because now they have huge community behind them.
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lol I think that might be my problem. I'm not convinced that any of this will be successful long term. This is all still big gamble in my mind and I'm a bit paranoid at times.
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same can be said about Bitcoin fees. A couple years before Bitcoin was worth some hundred bucks so fees were cents. Now it is rose to 4k$ so those couple bucks have become dollas.
I thought to comment as I see many people bitch about Bitcoin fees😂
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Very true. One of the main reasons I like Dash (I know there are others too) is because after the price jump they started talking about bringing fees back down to a penny or less with small transactions.
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In my opinion the fees are the only major issue to the everyday, non-technical user of bitcoin. They dont care about block sizes and all that. If the network would lower miner fees they would still make as much if not more due to volume incerase. People hold and send multiple transactions at once to lower fees. Getting to be like a bank. O_o. Lol
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to each his own. i personally think that a combination of both would do best. I invest and hold long term some altcoins and trade the rest. I also like the idea of keeping some spare cash to buy dips and 1 or 2 ICO's every now and then
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I actually just started trading based on the BTC value. I'm going to give it a shot. I started with exactly .5 BTC and going to try to get that to 1 BTC no matter the USD value of anything.
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Very good article. I was about to post a similair thread. Buy and hold for the upcoming 2 to 5 years and the market will find it's way. We really need more insights in the market and previous investment results (even though they don't deliver any guarantee for the future). I found this amazing platform: https://www.coincheckup.com This site gives you a complete in depth investment analysis on every crypto in the market.
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