An idiot for A Season
A lot of people would rather not try because they are afraid of being ridiculed, even when their Better judgement is fixed on on that thing. It is particularly true of ventures involving a significant amount of risk, which improving our finances certainly fall under.
Many people do not take the risk of investing their money for fear of loss. Who can blame them too? I mean to part with ones hard earned money on a venture that isn't guaranteed probably won't be considered a smart thing to do. The problem is that our incomes are often too meagre to foot our bills, leaving us in or around the debt circle so investment is necessary.
Crypto as an investment is characterized by periods of extreme volatility and uncertainty, largely due to the developing nature of the space. This extreme volatility certainly adds a lot of doubt to the mind of many investors and some simply opt out of the space entirely.
It also doesn't help that many lack a fundamental understanding of the space and treat it like a ponzi scheme. Many just don't get the long term viability of the chain generally and many crypto projects so will act in a way that brings immediate profits (or losses). The general mindset our there is to sell once the prices are high and make a run for it.
It is strange to some people when they see people slugging it out through crypto winters and holding on to assets during the dip when they are instead doing the opposite. It is strange to watch people hold assets in perpetual decline so explaining ourselves will be really difficult to begin with. To the average investor, we are not smart.
Take for instance December last year when Hive shot up to $3. Am sure when you look at prices now it would look dumb not to have sold. The thing with projects like Hive though is that you can't place an immediate value on long term viable projects in the space. $3 may be an ATH but it is a cheap sell if it jeopardizes our chances of growing our assets for possible benefits in the future.
Now that it is priced around $0.4, perhaps some will be receiving flak for not selling. I don't discuss my crypto investment with immediate family because they'll simply try to discourage me and get me to sell. Do I feel like an idiot for not selling at $3? Maybe. However, I know that choosing to hold onto those assets now could potentially set me up for the future.
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The truth is that I think that everything is relative and that every action has a reaction, because what today seems to us a silly and foolish action, like keeping our cryptocurrencies (such as Bitcoin, Hive, etc.) will most likely be the best action we have ever done in the future, when we get rich thanks to it.
So, we investors may seem overly optimistic and even idiotic, but everything worthwhile in life has its inherent risks that are worth taking if we want to achieve the profits and success we want in our lives in the future.
Thinking only about the benefit that is obtained or not in the short term (and even in the medium term), is foolish in terms of most of the assets in the market, and much more if we talk in terms of cryptocurrencies (especially like Bitcoin and Hive), because if we know that those projects and cryptocurrencies that we have have a potential that goes far beyond (immeasurably beyond) the monetary value that they currently have; it is normal and logical that we decide to keep them as long-term investments.
Excellent article, thanks for sharing it. Greetings.
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Never tell the family the value of what you hold is rule number one. They will never understand as they would just like to spend it. I see crypto like bread in the oven and if you take it out to early you miss out on the rest of the bread that would have raised given the time required. We don't look smart by not selling at the right times, but by holding we are earning constantly which no one understands but us.
The November value I held will look like pocket change the next time around and they will still have no clue the value I hold which is the safe way to operate.
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Dear @empress-eremmy, we need your help!
The Hivebuzz proposal already got important support from the community. However, it lost its funding a few days ago when the HBD stabilizer proposal rose above it.
May we ask you to support it so our team can continue its work?
You can do it on Peakd, Ecency, Hive.blog or using HiveSigner.
https://peakd.com/me/proposals/199
All votes are helpful and yours will be much appreciated.
Thank you!