Monday, April 16, 2018

Sold some DGD

Just btw fyi.

Sold some DGD a while ago.

Yes, my previously most bullish position that I have shit tons of.


+225.93% profit in ETH.
Lowest lot sold was 202% profit, highest was 336% profit.


Why am I highlighting this?

In Jan I said that : "To be completely frank, I have almost no ETH. I spent it all buying DGDs at ridiculously cheap prices. Stupid move? We shall see about that soon. After DGD finally makes it move and it is no longer cheap, I will continue stacking ETH."


This is me doing just that.

I'm not abandoning DGD. I still have a lot of DGD left, but I decided to rebalance my portfolio because my DGD position had ballooned too big. This is a happy problem of making too much money. The ETH gainz were too sick to resist not banking some profits.

200-300% returns in ETH for a 3-6 month "fixed deposit"?

Not bad.


"GMGH, are you selling to USD?"

Nope, I've sold to ETH, because imo ETH is deliciously cheap af. You do know that my average USD buy in price was $60, right? You can do the math yourself to calculate the fiat gains. Even now at these depressed $200-$250 prices, it's pretty respectable.

Admittedly when DGD was at $600, I could have sold for more than double the current fiat price, but then the ETH ratio was only ~0.5. I managed to sell at a ratio approximately 35% higher than that, which means I got 35% more ETH.

Don't get me wrong, both USD and crypto returns are important. Obviously it's best to win on both fronts. If I was cashing out, USD returns is more important. If I'm a happy stacker and think that crypto prices will go up in USD, I'll gladly take the crypto profits. As long as I'm not down on both fronts, things aren't that bad.

In a nutshell, I'm keeping my profits in ETH because I think ETH is gonna go up from here.


Can ETH go lower to $300? $250? $1? $0?

Sure, why not? (Possible and probable are 2 different things.)

This is crypto after all. It's a dangerous world out here.

Don't get rekt like me lads, do stocks or some other stuff.

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