We all want it, people are mining for it, people are breaking into your computers for it and scammers are asking for payments in it, yes bitcoin is what we all want, those lovely intangible coins are what we are all hunting down at the moment and it seems that everyone now knows about it.
But when all is said and done and you are the master who has collected all the bitcoins for yourself then you think oh yes now I’m going to? And there it is, the question we are starting to ask as aside from selling it back into fiat currency it seems the only other option we hear is you want to hold on to that as it will be worth soooo much in the future?
Now let’s take a moment to get into the hold on answer.
If you have ever worked in stocks and shares you will know that hold on to your shares for future value is the line account managers sell to their clients who are looking to cash in on their profits, why do they tell us to hold on? Well that’s because they get to keep your money and invest it into whatever else they want to make even more money in the hope of returning your cash to you before you notice its gone and if that does not work they would come to you with a brand new investment that can triple yes triple your returns so you now have another reason to not take your earnings out right?
Now let’s come back to crypto and we see certain coins coming into maturity, almost hitting a peak where it looks like it will not gain much more momentum and what do we see at this point? Share holders deciding to cash out right? But wait conveniently the developers will decide this is time for a fork right and if you hold on you will get x amount of coins back? Now where have we heard this before? That’s right it’s the same thing as the developer or manager realises he needs to cover some costs and make fast money by offering you a reason to hold and even buy some more stocks as you’re going to triple your profit.
Now as you know once the fork happens just like stocks maturing people will sell dropping the value of the shares or in this case coins meaning that you have just sold extra shares you bought while putting more money in your account manager/developers pocket so think about doing one thing that shares or coins are made for and that is buying something, whatever it is that you have been looking at and your coins have earned you that bit extra then stop listening to the account manager in you and go buy that thing you been after as just like real money….. you cant take it with you when your times up.