I know you may be thinking, Dani, who provoked you? First I have to admit I am not yet married, so wife aside. How about a girlfriend? Not my thing. Maybe it is one of my relations or a customer one may assume. ALL is very far from where we are going in this article. It’s all about awareness and giving a deaf ears to what isn't that many assume as ‘what us'.
Ok, I was just having a good time with a friend this afternoon and we were discussing the financial markets.
To be more precise it was centred more on crypto. We had to look back at our early flaws and I am happy we are NOW in the same mental page with it comes to approaching investment opportunities especially in the crypto space.
How would you feel if you linked someone to a crypto project and promised it will be a sure mouth watering return? First, are you the one behind the project? Secondly, why ask for that much return within such a short period of time.
Of course according to him it was a token worth around $10 each to be equivalent to $3000 dollars within 6 months. The inconveniencing part of the entire story is that the person he added up to buy still thinks he ran away with the interest.
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There was never any interest made, the entire project died off, there was never a vision. I pitied him because he is NOW in the middle of double loss (his assets and a friend's trust). I had to give him time to express himself and he said, he no longer pursues the hypes.
Even in the world of trading he has also shifted his focus from quick candle pursuit. It has come to his awareness that all these things don't make a mature investor.
Financial markets aside, he also told me his current experience when it comes to so many ponzi schemes that has made many Broke after the shut down. Do you still remember CBEX? It still remains the biggest fraud that has hit Nigerians so far. Ok, someone invited him to join with payments proofs and he rejected the offer. Ok, that is the ‘don't call me’ mentality. He finally lost taste for hypes.
He knew the entire project was yet another pending scam and he never took that into consideration. What happened, a few days later the entire project crashed. His invitee was left in sober moments. What is discussed lightly here has been a big setback that many are yet to recover. I learned from him and also had to give him some piece of investment advice too.
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He looked advisable, trust me, I wouldn't have spent my time giving him any of it if his mentality was not aligning. It would have been more of time wasting. I had to take him into my early experiences too in crypto and how I ended up with so many dust coins.
Of course I was more of a gambler by then. Who buys millions of token worth in tiny fractions and expect it to moon to $1 or $10 dollars in a few months? Indeed that's a scammer's mentality.
I had to take him through reputable financial investors like Warren Buffett, who know has to exercise patience and will be waiting not for 100x or 1000x. First, he makes a realistic investment and also puts it into realistic capital and finally, he still waits for a realistic time.
We have to learn from such men. In the end he also came to realize with me that investment needs capital. Carrying $100 dollars and planning to shut down the market is a big child's play.
To conclude, let me add, I admired his zeal for cryptocurrency and also helped him understand my new discoveries and a way forward when investing here. It is never about the price of the coin.
This was what I had to share with him. The future of every crypto project is dependent on who (the team) behind it. Your duty as an investor is to make this research very appropriately and go long on the project.
Of course I had to also expose him to an investor’s mentality; long term thinking. I tried to shift his focus from 6 months, one year or even three years investment mentality to 4, 5 years and more.
The truth is, a reputable project will always undergo steady growth. I think I led such an example on BNB in my recent post.
Adding to that, it is also something we are seeing happening to LEO tokens. So when you are out there looking for hypes, pursuing quick greens and choosing to spend your capital on ponzi schemes that promise 30% in 30 days, don't call me. We are done with this old financial lifestyle.
Posted Using INLEO