Replying to Avatar Noerms

Need advice: 🙏

I own some altcoins that are down 30 to 50%. 💩

The more i dig into crypto, the more i come to the conclusion that only Bitcoin is the real deal. 🧡

I always planned to buy more btc with the altcoin gains but then came bear market 😅

I ask myself now: ❓

Should i sell with a loss and convert to btc now or should i wait until back in positive? 🤔

Maybe someone has experienced a similar situation?
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El Tio 2y ago

Hi!

It depends on your portfolio and your goals.

Only #Bitcoin is the real deal. As they say, there is no second best.

If you have huge shitcoins bags, I think you can be selling with no rush, back to btc, little by little (so you don’t crash a little market cap alt yourself).

If you have little shitcoins bags, you could sell it now and focus on bitcoin (I think this is the best choice) or gamble that money hoping one day some of your shitcoins pump for whatever reason.

It depends, I think, also of your BTC bag, all satoshis counts, if you have little btc you may wanna sell to stack some more. If you have “a lot” you can always gamble some money in shitcoins.

The only bad side of having altcoins, even if you know you are gambling, is that you can loose a lot of focus in your stacking and in your research.

Keep stacking my friend!

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Noerms 2y ago

Thanks mate, really great advice 🙏💜

Yes, that is exactly what i am expecting. Having to watch 10 charts is extremely stressful.

The altcoins are aboit 15% of my portfolio. 85% is btc.

There is a good portion ETH in that 15% of which i think i will almost certainly be able to ride back to positive but the remainder is spread thin along mid and small caps.

It’s just this bad feeling of selling at a loss that holds me back atm 😅

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El Tio 2y ago

If you sell, it goes up.

If you buy, it goes down.

That’s why you buy and HODL BTC and nothing else. The rest are either scams or people with good heart that didn’t understand Bitcoin.

Sooner or later you will have to sell all but BTC. Is just about how you are comfortable doing it. And I think only you know that haha 😂

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Noerms 2y ago

True.

I think i have to start somewhere. Maybe first the ones that or not as deep down yet 😅

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Curious BTC 2y ago

Just understand that most of the alt coins will never recover to their highs. Many are pump and dump hype coins. Not sure where you live but if you sell at a loss you might be able to claim those losses on your taxes as well. I sleep better not having to watch the price of Alts and figure out when to sell them for BTC. All up to you though

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El Tio 2y ago

I wouldn’t mix, ever, taxes and crypto.

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Noerms 2y ago

I don’t understand 😅

You mean all your crypto is non kyc and you don’t have to worry bout taxes?

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El Tio 2y ago

Yes.

I buy p2p in what we call “caves” (Cuevas) and go through multiples non-kyc wallets.

Argentina 🇦🇷

I do not pay taxes for my little holdings (if I’d declare it I wouldn’t pay neither, I do not reach the minimum taxable).

I take security pretty serious but I’m not a pro in hiding. If some day I have to pay taxes, I’ll fly out of here. I’m a Bitcoiner more than I am an Argentinian

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Noerms 2y ago

😅 well said bro

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Noerms 2y ago

Thanks mate 🙏

And followed btw 🤙

Yeah, it could realize some losses for tax but as i don’t plan to realize gains with btc, there would be nothing to face it against 😅