Lark Davis Shared: It doesn’t matter how big your paper gains are, until you hit the sell button none of it is real. Crypto.

Community Response: Your gains are real when you convert them into bitcoin.

I thought ETH is supposed to be money.   I recently hit the sell button after hodling for 8 years to buy some land. Not that make believe NFT land, but 16 acres of real land in the North Carolina mountains. Paid all cash.

In this respect, Crypto is no different to FIAT, a vehicle in which to achieve your goals, Congrats!

Dude, wrong thought process. Everyone should have the mindset of accumulating coins and using coins for value not accumulate the crappy chump coins USD.

Yeah, may be in other words, you said “it’s time to sell guys.  Not just hit the sell button, but also move dollars to your bank.

No one has truly made profits unless they’ve pocketed it. Less you’ll just be talking about numbers on a screen. That is why it’s very important that you take action once you hit your target, either you sell, add more positions or close all positions. Stay true your plans.

When you press the sell button, it’s insignificant!  It no longer has value once you hit sell, be smart and think before you sell everything.  You don’t have to sell bitcoin dude, that’s the point. It’s money.

That can’t be exchanged for any goods or services. That tax bill for Uncle Sam in the US is going to be really real. Scary real.

You mean until the money is in your bank account.  Can you wait until we get back to all-time highs? Joking of course. Never wrong taking profits.

Rebalancing premium of sufficiently volatile assets is great. Got to beat the tax premium Bitcoin acts like a risk asset rebalancing some gains to cash, annuity, life insurance, etc in face of financial tightening from inflation isn’t the worst idea.

Are the paper gains in the room with us?

But your gains are still unrealized paper gains until they are *spent*, i.e., until you sell your dollars. Otherwise, you are just translating one paper gain into another one. So, we’re not planning on selling our Bitcoin for fiat, we are just going to trade it for goods directly.

So, no one is bullish enough and no one sells enough.  I wonder how this will change when the metaverse becomes the norm.

I thought the idea behind Bitcoin was swapping fiat for a harder currency. So, if you sell it for Fiat, not only will you pay tax on your gains, but you’ll also have to spend it fast due to inflation melting it away at around 15% per year. So, gains?

You got to get it off the exchange and into your bank account first too. Never know when those “stable coins” will stop being stable

Exactly how I feel. I try never to think that I had what I had when it was ATH. It’s like watching the fruit spin by in the fruit machine, it only matters what it lands on, i.e., when you sell. You might only be up 400% for 1% of the time, so you were not really up 400%.

And also: no matter how big your paper losses are, until you hit the sell button, none of it is real. But it only applies to projects with strong fundamentals.