She said, hey, I have 10,000 ICP all locked up. I need cash. Is now a good time to sell? The price is going up. And I'm like, no, this is the worst time to sell. We're close to all-time lows in the ICP price, and we've got the big announcement that may be coming. Who knows what will happen with that? But wouldn't you hate to sell your ICP now and then imagine watching the price double or triple in a month or two? How would you feel?
I Know Exactly How That Feels, Because I Did It With Dash
I can tell you how it feels, because I had a thousand Dash that I bought for $11,000 in 2016. Then when the price hit $87, I sold. And I thought, great, I just made $76,000 in four months. I'm a genius. And then the price went up. The price went from $11 to $87 to $1,300 at the top a few months later. And I felt like the biggest idiot. I'm like, my God, I had enough Dash to be a millionaire, and I sold it for $87,000.
That's the worst-case scenario. Literally, ICP going to zero is not the worst-case scenario. It's that you could have made a fortune on it, and you did all the work to get in position, and then you made it, and then you missed it and sold early. Not even being involved at all is better than doing something like that.
I've missed a lot of pumps in crypto, and I don't feel bad about the pumps I missed. I don't know why that would be. That's what she said. But I don't feel bad about the ones I missed. I feel bad about the ones where I bought the coin and sold it early and missed all the action. And I feel worse — I feel the absolute worst — about the coins where I sold way too early and where I did a big part of the marketing, and then I missed out on the gains.
I'm Paying My Rent With Cash Advance Checks
So I have over $20,000 of ICP, and I'm paying my rent with credit card cash advance checks right now. That's how much I believe what I'm saying. That's obviously not financial advice, because I'm not a financial advisor. And all I have is ICP. So I believe what I'm saying. This is the worst time to sell, and I'd rather take on debt and risk bankruptcy than sell right now.
Because what happens? Let's say I sell some of my ICP and pay my rent. Can you imagine how I'd feel to watch the ICP price go to $10 or $20? If I sold 1,000 ICP, I could pay one month of my rent right now. And imagine watching the price go to $20, where I could sell the same 1,000 ICP and pay like six or eight months of rent instead. I'd feel like such a dummy.
This is the challenge, though. This is why you don't want to get too much money into ICP — because you don't want to get in a position where you're desperate for cash and you're thinking about selling.
Locked-Up ICP and the 20% Haircut
Plus, her ICP is locked up. They won't let her out. It's locked up, and that means she has to sell her entire account and probably take a 20% haircut on it. Now, maybe there's someone who'd love to buy it, to get 10,000 ICP for like 20 grand.
I had a friend who was in the same position. He was thinking about selling it, and the price literally went from $2 to $4 while he was thinking about selling it. And meanwhile, he found a way to get $20,000 another way.
So to me, this is a time to hold steady. Because the worst thing in life is to miss out on something you did 90% of the work to get in position for. The last 10% is literally to just be patient. Literally, don't screw this up. That's all you have to do.
The Last 10% Is Just Not Screwing It Up
That's like my dating life. I'm dating this woman, she's out of town right now, and I'm like, if I just don't send anything as a text for a few days while she's not available, I can't screw it up. And that's like ICP right now. Literally do nothing. Just don't do anything.
You're going to keep getting maturity. And if you want to sell, sell the maturity. If you've got 10,000 ICP locked up for two years, you should be getting about $2 of maturity a day. Sell that. Take your $4 a day and put that in the bank, or compound it. I'm compounding mine right now.
So don't mess this up, guys and gals. This is an opportunity of a lifetime. We're in position. We are here at the right time. Everything seems like it's going against us. And at a bare minimum, you've got to see what this announcement is over the next week or two from DFINITY. That's a bare minimum.
Because there's so little happening with ICP in terms of the rest of crypto. It's so ignored — the price chart and all that stuff. Any little publicity just gets huge price action coming into ICP, if it's significant enough that the rest of crypto mainstream has to cover it. So at a bare minimum, you've got to wait for that.
Although if you want to sell your whole account, you need to get that listed at least a month in advance because of wait times. So if she did want to dump her account, now actually could be the time to list. But you could screw up listing your account. Something could go wrong. You could get a tiny fraction. You could lose 20% in terms of what the account's worth versus something liquid.
Set It Up Right and Stop Messing With It
The thing to do is just hold on to this long term. That's the ideal scenario — to have an amount you can afford to hold for a decade or two decades and not mess with it. Lots of times in life, if you just get something set up right, you don't have to keep messing with it. Everything's going to go great. But if you keep screwing around with it, and you've got to stop on a day-to-day basis every day and ask, should I sell it, should I not sell it — make a decision and stick to it. Like, I'm holding my ICP. No one's getting my ICP unless it's through force. So I'll do whatever I need to do within the law, financially and with my business and with integrity. I will do what I need to do to hold my ICP.
Because the ICP I've got — and I've got close to 10,000 — is the one thing that could barely, where I'm at right now, having given my ex 80% of everything in the divorce and I got 20%, and setting up and starting my business over from scratch. ICP is the one thing that could easily wipe everything out, where all of a sudden my net worth could be positive, where all my videos, all everything, my income could just blow up from ICP.
So look, I'm leading by example. I certainly would love to have $20,000 more dollars right now instead of writing another cash advance check. And it's a promotional offer, so it's 5% for like 18 months. So it's a great deal, but I'm taking all those deals, and I'll risk wrecking my credit and bankruptcy over selling right now. You can message me in my Skool if you want to talk this through.
Hold on to your ICP. Not financial advice. If you want the rest of my thinking on this coin, I've put it all in my ICP Crypto playlist.