June 28, 2022
When can you say that Bitcoin Cash helps you a lot? Is it when you receive tips from the bot and have BCH savings? Or is it when you spend BCH worthily?
We all have a common denominator when we opted to step onto this platform. And you'll be a hypocrite if you say that you are only here to write and not after the earnings that you could get here. But we also have the same reason why we opted to stay long, and that's not just about earnings. I couldn't agree more with that.
I've been saving Bitcoin Cash for more than two years, and never spend a single cent to buy things I need, or support my family financially. That is because I have a salary to cover our needs. I also set BCH as my life insurance, because I believe that, my one BCH today is worth two tomorrow. And despite its low performance in the past year, I'm not losing hope in it, and I just trust the process with Bitcoin Cash.
But in the recent market crash, I had a lot of realizations that made me regret not spending my assets wisely and I felt like I just wasted and lost my hard-earned money. It was my fault though, as I didn't apply good assets management, that's why I'm losing them. Because my goal was to save more and spend them at the right time.
Spend them at the right time...
This always rings in my mind every time uncertain circumstances happen but I'm not even moving an inch. I feel like it's too hard to let go of my BCH because I owe it a lot. But my other self would always ask me every time the market is at its peak.
When will you let your BCH go? Even just some of them.
After BCH reached its ATH, it slowly dropped, and seeing it struggling above $100 is disheartening. It even dropped almost 100% from its ATH. And my only way to support it is to hold them as much as I can. Because if I let go of them, it would seem like I lose hope in it.
Honestly, I envy those who aren't hesitant to spend their BCH. Some enthusiasts here would get mad at those converting BCH to fiat. I couldn't see anything wrong with that, because our country only has a few BCH merchants to spend their BCH. Besides, that's the point of saving, so that they can have something to pull out when unfavorable things happen.
I'm not rich, not poor either. But I felt like I wasted my hard-earned money and BCH. As I said above, the recent crypto market crash made me regret not spending my assets when I have a chance to.
My SmartBCH investments, for instance, is a failure, and only a few tokens are giving me hope, the majority aren't.
Turning back when I got an airdrop with a surprising amount worth more than five thousand dollars. I somewhat regretted not converting some into fiat. And I spent almost 80% of it on buying Bitcoin Cash with the hope that it would grow bigger.
More than four BCH was bought using some of the money I got from FORTH, less the transaction fee. From almost $4000 down to $450. That's more than 80% loss of investment.
Sometimes, I would think that that $5,000 worth of crypto is equivalent to Php250,000 which is a huge amount and enough to put up a business. This left me no choice but to hold them and wait until BCH cross above $1000 again.
Another loss of investment that I regretted was using my real cash to buy BCH. While checking my Coins.ph wallet history, I actually converted about Php50,000 to crypto (including the transaction fees).
1.16780114 BCH was bought worth Php40,000 (including fee) or $800. And 0.0861 ETH was bought worth Php10,000 (including fee) or $200. From $800 worth of investment in BCH, it dropped to $130. From a $200 investment in ETH, it dropped to $105. That's more or less a 70% loss of investment.
I lose my investment because I was too weak to let them go and lack of time to monitor the market.
Now the question is...
When To Let Go Bitcoin Cash?
In my latest comment in one of the articles about BCH, I said "Why sell for $100 if you didn't sell when it was $1600? It's absurd"
It is indeed an absurd decision. But what if unexpected and unfavorable circumstances happened? Would you dare to sell your BCH at $100?
I wouldn't care if a BCH enthusiast would get mad at me if I sell them at $100, especially if I need them so BADLY. That is my hard-earned money, and I can do anything about it. So if someone disagrees, feel free to block me.
I even envy those who built up houses from Bitcoin Cash, buy a car, support their education, or put up a business. Meanwhile, looking at myself, what did I do with my Bitcoin Cash? I put them in investments where I just lost a huge amount of them. Oftentimes, I would think, "I should've bought this and that, I should've done this and that, I should've put up a business, something worth investing in."
It's such a great feeling if you are seeing the REAL fruit of your Bitcoin Cash right in front of you. And that's how we could say that "BCH helps us a lot."
You are probably wondering why I am ranting here again, in case you haven't read my noise.cash post, one important person in my life is suffering from a chronic health condition and he needs medical support monthly.
So if things get worse and I have no other option, then that would be the time that I would let my Bitcoin Cash go. But every problem has a solution. We just need to find ways instead of minding them.
But that's the point of saving anyway. Just like what I said before, a penny saved, a penny earned.
I got back to trading recently, not to accumulate more crypto, but to save more stablecoins. So that when unexpected thing happens like a sudden crypto market crash or an unfavorable circumstance like this, at least, I have something to pull out.
I owe Bitcoin Cash a lot. But instead of losing them, I would rather harvest the fruit of my labor, and spend them worthily. I'm not saying that I'll let go of it now. But maybe later if situation left me no choice.
This is just another rant, so ignore this if you want. Thanks.
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Diko rin naisip yan before Madam eh kaasar ang sakit sakit