Should I cash out my crypto?

in #stemgeeks3 years ago

People always say "hodl", but what if the money in my crypto account would be a better investment by using it to buy other assets?

For example, right now my wallet here estimates $6,281.94 in value. Now, obviously, by the time that powers down it would not be worth exactly that, but imagine for a moment I could use that as straight fiat cash in a transaction this second.

I could buy another laser cutter - my wife's business uses our two Glowforge lasers to make money every month.

Or I could buy a dedicated CNC Mill, create PCB prototypes. Electronics can be good income if you have the right niche.

$6k would be a good start on rent for an office or workshop ...

... or a mining rig?

Would it be better spent making physical media for my retro game programming? Or hiring artists and editors for my educational videos or books?

Could it be better invested in plugins and software for my ecommerce projects?

See where I am going with this?

I've always been a picks and shovels guy rather than the gold rush person, I see more stability in working a problem than speculating on something.

People talk about crypto as being a passive income, but that is not so clear cut with Hive and other "proof of work" currency projects, plus as we saw with NFT volatility, none of this is a sure thing.

What do you think?

How do you decide where you should invest and how?

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Only you know the right time for you to sell.

Jesus you have a lot of shit going on. So many options and side hustles. Good on you. I'm constantly trying to figure out when to cash out, maybe to a stable coin or something to wait for the market to crash like it did in 2018 so I can buy more. I've got the fear that I'll fuck it up though and make a bad decision, so I never actually pull the trigger. Lol

I'd prefer the picks and shovels, but that's just me.