Hy guys, i did my worst buy in cripto.....10000 tron when the price was 0.18dollars..... what can i do? sell or hold and wait?
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I'm not a financial adviser and I don't own any Tron, but always remember you haven't lost anything until you sell.
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ok, thanks for the advice
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This is absolutely untrue. The market is what it is. Deciding to realize gains or losses does not effect whether gains or losses have occurred. It’s the sunk cost fallacy.
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You have a fundamental misunderstanding of sunk costs and are misapplying it to cryptocurrencies. @mflmiguel is absolutely correct that sunk costs are something you cannot recover under any circumstances. This is not the case with Tron. By your definition, nearly everyone should have sold their homes during the 2008 financial crisis because the value went down. Clearly there are many people who did not sell their homes, and they are now more valuable than before the crash. So how much money did those people lose? Nothing, because they didn't sell.
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I don't think that's how the sunk cost fallacy is applied. It's more like if I booked an AirBnb that I thought was 5 stars, and it turned out when I got there that its a shitty apartment I never should have booked and paid for. I then suck it up because I already invested the money into it, rather than cut the costs to find a better AirBnb.
Or I have a gambling problem I lose all most of my money but continue to gamble because I've already invested so much into it.
Or staying in a crappy marriage because you've known this person your entire life.
For a crypto investment, putting money into a coin that deceased in price isn't necessarily a sunk cost because its so volatile, i.e., it could go up the next day. Sunk cost by definition is something that you cannot recover. He hasn't realized a loss. That's part of why tax law is the way it is - you don't get taxed until you sell for a profit.
@dave-steem : long story short, everyone is hurting right now because we're in a bearish trend. I'm not a financial adviser either, but I would wait and monitor the price action closely. Do your home work and study where the trend is going and manage your risk - only invest what you're willing to lose. The price could go up or it could go down - no one really knows, but there's a fairly high chance that you can recover barring a catastrophic crash.
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ok thanks for answer, i will hold and pray....
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The sunk cost is made the second you hand over the money to buy something.
https://steemit.com/cryptocurrency/@nealmcspadden/crypto-trading-and-the-sunk-cost-fallacy
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I'm holding a similar amount of TRX myself. There is good news on the horizon. Mainnet launches on March 31. Developement is active on Github. New partnership with Grab. Be patient and remember what @cryptotv18 has said, "You haven't lost anything until you sell."
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HODL. I have more confident in this coin that any others. Trust me the Chinese coins is up to someyhing
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