Cashing Out Early

I think the reason why a lot of stakeholders show deep concern towards market prices is because of the possibility that they are going to liquidate assets at any given moment.

In the crypto space, liquidating at the right time can be the difference between success and failure of a persons venture into the volatile markets. Cash out too early and risk losing out on some major gains in the future. Cash out too late and risk a potential price crash accompanied with substantial losses.

I came across a post (can't verify how true it was though) where someone already had FOMO on Bitcoin in 2010 and immediately decided to purchase 600 more Bitcoins to his assets. Well, if he had held till this day then that person would be in a very, very, good financial position.

But the problem of waiting for the perfect circumstances to cash out has always persisted. First of all, not everyone has the patience to play the waiting game for so long. I mean, definitely not everyone could have envisioned what Bitcoin would become a decade later, because not everyone thinks so far ahead.

Then there is also the case of missing out on the right moment likely due to an unwillingness to take risks. I've always said crypto wasn't for the fainthearted, and watching ones assets in a perpetual state of decline can have adverse psychological effects on a person, including depression. Some people would rather cut their losses or make quick gains on the slightest pump than risk the rollercoaster ride that is the blockchain market.

Perhaps this approach though is the wrong approach to holding stake in the crypto space, and that is why so many people are permanently scarred during a massive bear market. Perhaps what we should be looking at isn't the price, but the viability of whatever project we are participating in.

I mean price obsession can really be dangerous to our health and is a rather unproductive venture. It makes more sense to channel the time and stake spent obsessing over price movements to more creative ventures within the same space. As human beings we crave stability and certainty (despite wanting big returns), and a project with viability in the future can give that calming effect.

Hive is one of those projects that can take our mind off price obsession while maintaining participation in the space. I for one barely look at prices these days, even though I still come across them on the chain. My point is that there are so many ways I can be building my reputation on the blockchain with hive and beyond, it makes little sense to waste it crying over prices.

That isn't to say we should not trade, as trading perhaps still holds the quickest means of making massive profits (and losses). However, traders should be aware that there are other options available especially if they envisage a long term future on the blockchain. The shift from profits to projects would make us more relaxed blockchain participants.

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