Hey Jesstackers
As the price of Bitcoin rallies and the market is getting a little frothy, I see a lot of people coming out of the weeds, throwing a bit of money in and frothing at the mouth at the idea of 20, 50, 100% ROI in a short space of time. Can it happen?
Absolutely, does it mean you'll profit? Probably not, of those coming in to take short term positions and trade the run many will get greedy and not sell when they should since we can never predict a top.
Some will get out, they will rave about what geniuses they are, and that's all the stories you'll ever hear. It's only the winners that share their stories, the losers quietly sell-off and go do something else out of fear and embarrassment, that's just the way it goes.
Through highs and lows
I've been in crypto through bull and bear runs, and man has it thought me a shit load about the market, about myself and about macro and all sorts of mental fallacies we have when it comes to investing.
Do I fall for that shit?
Of course, I do, do I learn from it, well I try to, the highs and lows I welcome them now, volatility is my friend and I am enjoying the journey I actually don't care much about the destination.
Since I am pretty vocal about Bitcoin people will often message me for advice, and I'll happily answer them on what I've done where I've bought. The gains I've made and I can tell you one thing No ones given a fuck about anything else I've had to say other than the gains, it's all about the gains bro.
There have been a few that have asked the right questions and taken up positions for the long run, but the vast majority are about trying to time runs and make some extraordinary income.
The thing is, if BTC goes up 10x and you putting in 1000 bucks, yes you'll get 10k for very little work and for some that can be life-changing but more often than not you can piss through that money pretty quickly.
Easy come, easy go as they say.
Why worry about the price when you can worry about what you can control
...the stake! You have no control over what the market is going to value Bitcoin at any time period you can only ride the waves. So why focus so much time and energy into something you can't control? Why not focus it on something you can control, which is getting more stake.
We've all got a number in our heads that would be our exit figure so why not try to bring down the amount you need BTC to go up by to reach that exit figure by increasing your stake.
How much are you willing to risk? I think crypto will make a lot more millionaires than it has made in the past, but it will be from those who are the most prudent and spend time in the market rather than timing the market.
Will some outliers pull off great trades in a short time frame? Yes, but that's all they are, outliers, luck riders that assume they discovered a magic formula, but let them try to repeat it, I doubt it.
Everyone looks like a genius in a bull run, so don't let the waves catch you off guard.
Have your say
What do you good people of HIVE think?
So have at it my Jessies! If you don't have something to comment, comment "I am a Jessie."
Let's connect
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Already took my wee profits out and playing with the house money at this point.
Maybe, I'll see a bit of gravy on top.
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That’s pretty smart, I couldn’t Do that because of the major correction in 2017 so I had to wait until now I could take out profits hopefully when this run kicks off reallt and then play with the house
Lol that’s the dream
I think that it is not so simple. My stake, or the possibility to enlarge/reduce my stake, for example by trading, is very much linked to the price. True to the motto Buy Low - Sell High you should be interested in the price development. Many of the hardcore hodlers could have increased their stake enormously if they had taken the corresponding market movements with them. I have learned a lot from the past, including that it can be worthwhile to be courageous and to question your own attitude every day.
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Nothing is every simple, the deeper you go into ANYTHING the more nuance you are going to find. If you want to be day trader, scalper, swing trader and make more profits that way even then it would be better if you just did that with the idea of earning more Satoshis then trying to earn more Fiat, so if you're trading and you have more stake now you could hold it for a while longer and those profits you made would be worth more.
I'm not too concerned with market making and exploring pairs as is most of the world. What traders also don't think about is lost opportunity cost so if I'm not trading large amounts I am technically wasting my time, which is the case for me.
An hour at work earns me more than I am willing to try and swing in trading, so I can take what I earn at work and buy more Bitcoin.
I'm not saying that it would be stupid to focus on building your stake by investing Fiat methodically and on a regular basis. That is also in my interest. But if I see possibilities to increase my stake by a short-term swap into stable coins and a later reinvest, I find that quite relevant. As I already said, I would never recommend this to a newcomer in this field, since there is of course more risk involved.
There are, however, examples where I would advise newcomers not to maintain a permanent investment. This was the case in late 2017/ early 2018. With patience, one has done better in these times than if one has stubbornly and permanently - reaching into the falling knife - invested.
I didn't want to start a fundamental discussion here either. In the end, everyone has to decide for themselves how to invest and what strategy to adopt. I basically don't think much of a mantra preacher. I always prefer a heated discussion culture with the possibility to learn from experience and from mistakes.
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No, I think it's important points that you bring up, I always like counter-arguments so that any readers can also see my biases and make up their minds.
There are plenty of traders still heavily focused on the fiat value and trying to trade to get more say USD, and it's not that they are wrong I mean they are increasing the stake in what THEY want.
It's all relative; there has to be someone on the other side of every trade. I think I have enough fiat I don't think I have enough Bitcoin and so I try to balance that out.
Do I have enough precious metals? Probably not, something I also need to work on.
Do I have a skill that is marketable and earns me money, yes for now, how long that will be? I don't know so I also need to constantly upskill and reskill too
Nothing wrong with this. Just keep in mind, that one can increase the BTC Stake by trading vs. Fiat.
Y, being flexible is key this day. One need to wants to learn stuff out of intrinsic motivation. I try to consistently overthink myself and to be open for new perspectives and different thoughts.
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What he is saying is simple.
It may not be easy (be patient, take your time, invest methodically) but it really is simple.
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I do understand the idea behind his statement, but I cannot agree with it. For newcomers it is definitely recommendable, but this does not mean that I would sign this statement in a broader sense and especially with regard to experienced users in the investment area. So it is not as simple as it seems.
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hahaha so true! the funniest thing for me are the charts. like someone can actually read them and understand what's going on or what will going to happen. It's really out of their reach. For instance, a cartel leader decides to buy millions of btc worth just because, then prices will change. What chart will show a future like that?
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If reading charts were how you become rich coingecko and trading view would not give their data away for free they’d be making too much money using their data to make the best decision
No one can predict shit we all just taking bets on outcomes
another great argument i haven't thought!
exactly and some act like they do, scamming people or luring them along with their stupidity
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Ah I can't stand these scammers I always report their channels and ads on YouTube but they just keep coming back its like no one is willing to stand up and say this is not right, we all too busy trying to make money at any cost, which is really sad
like mosquitos! trying to suck out of people's money!
exactly we are too desperate
Also sorry for the late reply, i don't have much time, so i usually make my post, curate and make comments and after a bunch of replies or comments gathered, i then sit down and reply to everything!
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Down and Up of BTC price make me anything because I don't invest in Bitcoin.
I interest the potential of LEO and HIVE due to I am investing in here with my time, effort and money.
Thank you.
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I still invest in Bitcoin, I buy it every day I can't help myself I still think its the best bet, I do buy some other alts and I invest my time in earning crypto to offset what I buy. I don't think there's a right or wrong way to go about collecting crypto really, as long as you don't get too emotionally involved and learn to take profits
Hey @chekohler, why did you downvote my post update about my Court Hearing in the Crypto Class Action. https://peakd.com/cryptoclassaction/@apshamilton/update-on-the-crypto-class-action-20-nov-2020-hearing
I think you must be trailing someone's downvotes.
Hey man, yeah I hardly downvote unless I see some reward milking so i just follow a trail and trust them to use the downvotes to help! I don’t get wrapped up in the politics
Thanks for fixing this.
I don't know what it was about.
May have been a mistake.
Pleasure man, lol I'm not unreasonable :) thanks for stopping by
I dont holding anyBitcojn all I have is Hive and tokens... my brother do some trading (buyinglow selling high), He has planned to buy when the price was low he brought some bitcoin and now price is high he sold but nit all he taken out his investment and holding his profit and will hold long...
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That’s great that both of you have taken the leap into crypto I don’t know if my way is going to work out over what your brother does I jusy feel more comfortable with the strategy I have picked! We will all win some and lose some and that’s how we learn
Crypto is by no means a silver bullet to wealth and success but it sure can be for those who are in the right place at the right time
I think I love this saying.
This Post reminds me of the saying: Luck is when preparation meets opportunity.
Very well worded. Thank you for sharing.
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Lol I just thought of it because I feel like 1 coining is now becoming an impossible dream even for me who is like 0.1 or less away lol, that 0.1 keeps getting bigger and bigger and throwing fiat at it to close the gap isn't helping the way it used to, so yeah I have to prepare look for opportunities because I just don't have enough Bitcoin, for me to feel personally comfortable not missing out on it moving up.
If I have 1 then I can just focus on all the alt gambles and toss a $50 here and there and plant some seeds and see what happens
I get it. Now that I have 5000 staked HIVE, I feel as if any liquid hive is "free" for gambling with.
I have my bitcoin goal too - I am far away from it but know the best way to build it: find a number I am comfortable investing, and buy some every month.
Phew, only took me a few years to learn that.
I feel you, I wanted to get to 20k Hive which I'm 4k short of and I think ill get there by end of next year and then everything above that is "free" to mess around with and invest in alts and tokens and just have fun with it.
I think its not an easy lesson to learn because we're taught all these weird beliefs about money and now we're waking up finding out hey it's really all just about who believes what and then working the belief in value to your advantage
That's got to be the smartest take on crypto I've read in quite awhile. No BS, clearheaded and refreshingly honest. Exactly what somebody new to crypto needs to hear. I'm sure that awareness didn't come cheap and was paid for in travails and treasure. Like any good lesson, it's the knocks that toughen you and hopefully lay strong groundwork for the future. Well said and thanks for sharing.
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LOL thanks, I do appreciate it, I've listed to too much rubbish and shilling and FUD'ing and I know how easy it is to be turned off by a narrative or swept up by one like I said I still fall for it today and I try to rebalance my ideas as well as my positions in my portfolio and where I want to put my money next
This is one of the times where being a set and forget type for me isn't ideal you have to be active, check yourself, not necessarily make trades every day that I don't do, but just make sure that your ground work is done and you feel confident with what you did previously as new information comes in
"I am a Jessie."
I read thrice and I always felt I am in agreement with all points. Some kind of strange that generally do not happen.
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Wow thrice, that's more proofreading than I do on my own writing, which I should do because its full of mistakes lol, I just like to get it out while I still have the thoughts.
I agree with these sentiments now, but who knows how long ill hold them before I change my mind lol
I definitely don't have enough BTC but I need the price to go DOWN if anything so I can pick up some more :P
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I need the price to go down too, but I'm not waiting, I feel I can't afford to miss whatever the price is today since you never know where the price will go so daily buying is more just to put my mind at ease rather than trying to get the best yield
Oh yeah I'm still buying every day regardless but keeping enough spare cash in case of a sudden pull back to capitalise. Pretty much just buying BTC now with my fiat and using the alt coins to help buy other alts I like the look of, pays for itself this stuff once you get it going!
Really tempted to lump some more BTC in to Celsius though from my ledger and get more interest
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