So you think you're making bad crypto decisions? Think again...
I was killing my time on Twitter earlier today trying to find good tweets about Hive and WLEO when I stumbled upon a tweet (the link is at the bottom of the post and it's not a novel or something...but sometimes an image or in this case a screenshot is worth a thousand words.)
This screenshot really caught my eye simply because it reminded me of all the bad investing decisions I've made over the years...but this guy right here...is killing it.
Just read it one more time and let it sink in...
I've been in similar situations a lot of times...and in most cases I've been rekt by the choices I've made, either because of my ignorance or because I wasn't focused enough.
You know...the type of investor that used to buy high and hoped that prices will keep going up like forever...but eventually they crashed back down to Earth...Rekt...or the type of guy that used to buy a stock simply because a friend of a friend who knew a guy who knew how these things work gave us completely shitty info... Rekt again ...and in rare cases such as the guy from the screenshot above, the type of guy that wasn't patient enough to wait for that spark and decided to cash out days before a massive spike...
Ya, that's me...nice to meet you all...
That was before I get involved with crypto. A life full of bad investing decisions. And I used to blame everyone...my bad luck, my parents, my girfriend, God himself...but never myself. When in reality I was always uninformed and impatient...
Through Steem Hive I've been educated. I am more informed that ever before, real talk.
I've even made a couple of smart crypto investing choices that have been super profitable till now....And when I say profitable I mean 30x profitable for now.
Why should you care?
I don't expect you to, just trying to make you understand that in crypto world, a few clicks could be the difference between temporary pleasure and life changing events.
That being said I really feel...weird to see people killing their Hive and LEO rewards. Not only because prices at these levels are ridiculously low for both of these projects, but also because all of you people are insiders. You know how Hive works...you know who LEO works...you know the energy and the time and the effort people behind these project put into to turn them into the next BIG thing....you know the potential...
It's one thing to be invested into a project that you have absolutely no clue wtf is going on or if it will end up being a ponzy scheme and another one to be invested in Hive or Leo where you spend hours every single day...
What would you do if there was no Hive?
Let that sink in again before you send your tokens to an exchange for a few bucks next time.
Don't be like the guy from the screenshot...
Because there will be a day that you wish you hadn't sold a single HIVE / LEO token...but of course...it will be to late to fix that...
Food for thought...and if any of you has been in a similar situation don't hesitate to drop some comments in the comment section below.
That way I won't feel so desperate for all those years full of investing failures...Ha!
Have a good everyone and stay safe.
Cheers!
https://twitter.com/imBagsy/status/1309140073250787330
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https://twitter.com/mindtrap11/status/1309575304688603136
Yep, great thoughts here. Our keys are managed my our decisions. Any crypto investor must make sufficient research and count the costs before using his keys to authorize his transactions.
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Well said
The problem here is that people don't have a good system for solid trading. They make a decision and then they move all in and all out of a market instantly. This kind of emotional trading is just bad practice and will always turn out unfavorable on average.
Personally I'm working on a 20-point system that will help myself and others move in and out of the markets with much more grace. Each "point" is simply 5% of the funds you're gambling with, and there are rules for how many points you should move in or out of the market at any given time. Honestly I think a system like this could help a lot of ppl.
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Any plans to release it on Hive?
I think it fits more as a LEO product, but seeing as LEO is on Hive as well, yes.
I only have plans to develop on Hive and Hive second layer going forward.
Now that I think about it this code would be open source and totally platform independent, as I haven't considered how I would ever go about connecting a governance coin to it.
This could be your gift to the community. Ha!
After thinking about it further, their would be multiple governance tokens, one for each network that adopts the protocol. For example, Hive stake holders would be able to vote on the Hive version, Bitcoin holders on the Bitcoin version, LEO holders on the LEO version etc.
And the influence would be tied to their stake?
Interesting. Keep us updated.
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Yeah Man. Buy and #HODLHIVE #HODLLEO #HODLVRSC #HODLBART @bartertradeio :-)
(I know the last two projects quite well too and see the potential)
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Heard about BART before...legit?
I hope so, i bought a big bag of coins :-)
But yes, it seems so, i am impressed. They have partnered with Hive, ans with Flourishing Capital amongs others. I started to use the Flourishing Capital AI Bot to manage some of my funds 8 days ago. I'ts looking good so far!
#HODLBART ? Is there a Simpson coin yet? I'm sure it would be immensely popular ;<)
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:-)
Great article! I have been busy lately, stacking up some coins! Let's hope they will be worth something before I sell them! :)
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Well you never know which coin could change your financial status once and for all. Sometimes even a shitcoin could go 1000x and make you rich in a day. Especially those...
Great post. We have all made decisions that we regret in hindsight. It was probably the best decision at the time. I don't think we should stress over past choices. Learn and look ahead. We can't change the past.
We definitely can't change the past. But we can take lessons from it don't you think?
I was that guy too, getting into crypto gave me a better stomach to hold on to my winners. I used to always hear story's about people that got apple and amazon so cheep and became millionaires, I cant see not locking in some of those gains. How do you hold through all of that?
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Cashing out your initial investment and playing around with profits is usually the best strategy. All in is bad...playing super safe is also bad...something in between...
Wow! Thanks for the reminder. After reading this, I decided to buy more Hive and LEO.
Have a nice weekend!
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Sweet. Grow your stash bud.
It is easy to give up on the long game. Development takes time as does marketing, social media, and other actions required for success.
That said, everyone looks at the why isnt the price moving now crowd and jumps on board.
Sadly they end up with egg on their face when things turn around.
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I've learned my lesson...the hard way. I'll never ever make the same mistakes again.
Just hope I motivated a few people around here
I dont think ive ever made a decision id say was a great one. lol
I just drift along in the crypto waves hoping to get lucky like with the UNI drop.
Well bud, you were lucky with UNI. I hadn't used their services before so I was left out of the biggest airdrop in history
Oh, you didn't mention the guy like me: those who guessed the potential of Splinterlands, but only bought one starter pack, to be on the safe side, and all... Then later, as it started to explode, only managed to buy new cards from the proceeds of selling reward cards, because I'd already spent too much on a silly game... Finally, when the new unchained sets came out, missed out on the airdrop, because I had stopped playing them... Yes, there are many types of bad investment decisions we tend to kick ourselves for. Too careful can be just as bad as being too bold.
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And I thought that I was the only one around here who just got this starter pack only and never even used it...
Food for thought
Well said.
It is good to be patient and plan your move.
!BEER
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Thanks mate
View or trade
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BEER.Hi @mindtrap
I think bad decisions are part of the learning curve.
I certainly have made some growing my knowledge base. Even now as I take another plunge into an unexplored (for me) corner of crypto investment Liquidity Pool yield farming. I am hoping that listening to collective thinking will help me navigate this area.
@shortsegments
P.s.
I feel bad for the guy in your story, but at least he didn’t die. I hope he blew that 20k on something spectacular. If I was dying I certainly would....
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Same goes for me
On the other hand, what if the SRK was worth 0 in July?
Making a decision is difficult.
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Anyone who decides to invest in crypto should be fully prepared to lose their money. Any coin could crash down and burn but that's not the reason we invest in the first place isn't it? We invest in the hope that the coins we chose will perform well in the future...He had a golden opportunity...wasted
When the price starts decreasing, some people get hopeless, they think it might go down more. And out of panic, they sell cryptos. When the price goes up again, they have nothing left except regret.
Thank you @mindtrap for sharing this.
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STOPDo not miss the last post from @hivebuzz:
That guy had some bad luck, but what he should have done is not dump it all but take a position, clearly, he needed some funds and he should have sold some, if he took the 10k he got and sat on the other half, he would still now be up over half a million dollars.
This is what I tell myself put the principle in with time in the market, and if there are slight pumps, skim a bit of profit to reduce the risk on our principle and then keep going. I'd even dollar cost average that back in and have a bigger stake than I had before
I don't need that money so I guess I' fortunate in that sense we don't know peoples situations unfortunately
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Rich thought... Thanks for the insight