Regarding ETCG or Ethereum Classic

I bought ETCG in my ira about a month ago at $12. I thought it was ETH based grayscale trust not ETH classic. Now it’s about 1/2 that. I was told when it was $9 I should should sell and cut my losses. Any thoughts? Do I hold on and be in the dip and weather it and hope it goes back up or do I cut losses and move on?

Again I bought it thinking it was something else. If it were ETHG I’d be fine with it. Your thoughts are greatly appreciated.

I would cut my losses, if your even able to. I’ve tried to sell my holdings and I cant find an exchange that will allow a deposit. Since ETC’s multiple 51% attacks, no one knows if a transaction is real or not. A couple month ago, those that were accepting deposits had a 2 week confirmation. I don’t believe any of the Bitcoin or Ethereum forks will do as well as the originals. Like it or not, first mover advantage matters.

Getting into ETH as soon as possible is your best bet. With the coming roll out of 2.0, ETH should move nicely,and you will recover. Just out of curiosity, why are you paying the huge premiums to get into the Greyscale Trust. If its a limitation of your IRA, why not get a self directed IRA? It will allow better opportunity. Also, and this is a biggie… I hope you have a ROTH IRA and not the traditional. Traditional has a benefit of investing in pretax dollars, but crypto’s are going to grow so substantively over the coming decades that your much better off investing with post tax dollars and not having all your gains taxed at the end. Better to pay 15% tax on the dollar you invest instead of 25% capital gains on the 100, or 1,000 dollars that 1 dollar is going to make.

Thank you so much! I really appreciate it. I will ask my wife about the IRA questions and get back to you on that. Again thanks!!!