This is not financial advice. Just a random person's opinion.
Money will only make you more of what you already are
It's good start writing with this quote.
Whether you got into crypto few years ago or few months and made some exponential GAINS with crypto then congratulations. For me, it's a long game. The experiences we gain by investing and learning can become extremely valuable in our life going forward.
Also we must not forget why we got into crypto in the first place. We delay starting with crypto because of our own FEARS. So many of us wish we got in early and main (even only) reason for this is our own fear. Then our GREED gets in our way. We fall for FOMO, our emotional intelligence can let us down.
It is not the man who has little, but he who desires more, that is poor. - Seneca
This is me Tweeting a year ago and so many things can happen in our lives in a year. It's almost impossible to keep our head down and focus for 5 years straight. But if we can do it then crypto has the power to change our life completely.
For example, If you bought $ETH in 2016 then you could have 400X your initial investment.
At the same time if you got greedy or let your emotions get in your way then you could have lost most of the gains by picking the coin that went to zero.
Conclusion and my Answer
It's totally possible to make exponential GAINS in Crypto within 5 years.
- You have to have less fear and be willing to take some risks.
- You have to read a lot and I mean you should be spending many hours per day reading and doing lots of research.
- Be patient. This is huge
- Don't let the Greed get in the way and remember why you start with crypto in the first place.
- Being thankful for entrepreneurs who're tirelessly working hard to build the decentralized future.
Trading is not for everyone and some can’t even make one successful trade, so perhaps HODL is best option for many of us.
13th November Total number of Leofinace blogs: xxx( Still awaiting for the numbers)
12th November Total number of Leofinace blogs: 210
11th November Total number of Leofinace blogs: 181 (I blame HiveFest!)
10th November Total number of Leofinace blogs: 196
Figures by @friendlymoose
Thank you to everyone who is creating, curating and staying engaged with leofinance blogs. Let's make this number reach 500 blogs per day together.
This is my third crypto question via #AskLeo initiative by @acesontop
crypto question 1
crypto question 2
crypto question 3
Ps. Please check out my Today's Micro crypto question with my alt account @nathanmars.leo and let's treat LeoFinance.io like Crypto Twitter.
Bonus Crypto Read :
▶️ 3Speak
You need to be careful about extrapolating.
When I started in crypto there were only five coins: bitcoin, litecoin, devcoin, ixcoin and peercoin. I bought them all because I believed crypto was going to be huge and all the coins has unique features. Peercoin invented proof-of-stake. Devcoin rewarded writers and artists (much like Hive is trying to do now). Ixcoin and litecoin pioneered scrypt mining (as opposed to bitcoin's sha-256 mining).
They were all ground-breaking, but only bitcoin has made it. Litecoin has languished and the others are dead. I still have a wallet with 30 million Devcoins in it. In the bull run of 2013 they were worth 100 satoshis each and I foolishly hodled instead of selling.
It is not obvious which coins would do well in five years time. People didn't buy ETH in 2016, because they weren't sure it would break out. Back then exchanges like Coinbase and Kraken snobbily refused to list alts, so they were confined to exchanges like Cryptsy and Mintpal and Poloniex which crashed and burned. Even now coins are vulnerable to delisting.
Thank you for your valuable comment!
Our past mistakes can be valuable as gold as long as we learn from them.
I can see that you have learnt so much from your own crypto experiences. Same for me.
Exchanges played a huge role in the success of coins in the past!
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I'm quite happy with the last 3/4 years. Made me realize what's real, what's propped up, the fact that we have so much abundance and 10k coins out there.. means if we dislike how the power player megalomaniacs love to control you, you just move! ;)
Focus on what's in our control and keep playing this game called crypto.
We all going to make it
For years i was like i do not have any spare money to invest into crypto, now i see it was a huge mistake. Those few dollars i actually had time to time what i could invest, could worth tens of thousands now. Exponential gains in crypto is a thing. A few month ago i started, i hope within few years it will make a change.
I’m super glad you overcome your fear and started with Crypto.
Now it’s about playing the long term game.
Can’t wait to read your experiences.
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@tipu curate
Upvoted 👌 (Mana: 30/70) Liquid rewards.
Thank you 🙏🏾
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Not at all my friend , beautiful this profile picture
Historically people don't hold onto their assets and sell them out for some profit. While this isn't bad, you can miss out quite a bit and nobody can really predict prices. So I think the long-term view is the best thing to keep you in the game.
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HODL
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Thank you so much for saying such a nice thing about Kipt because we are new users they are actually scared so much that we can't do anything. Thank you so much for all the fears in your mind
Have No Fear
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Ok brother i have faith in you and i will try to follow you i follow you on this platform i have faith in you
shibshibshibshibshibshibshib🌕🌕🌕🌕
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I'm mostly focused right now on circumventing the legacy system by using crypto.
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Whatever you do you will do well with focused mind.
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Bitcoin = long term wealth
Alts = Experimental, limitless application
I still think most people should hold 80-90% in BTC, because as shown by your images, the rest can easily drop out of favor after the bull runs finish.
I could understand why people put 90% in BTC
Me being an experimental guy, I put 100% in Alts
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I respect that Nathan, you've got more balls than me haha. You'll be laughing when hive hits $10!
I do have some shots coins which almost went to zero but I know my gains were much more than the losses and I did not became much greedy after all.
It’s an valuable lesson
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That's good post. As for me.i am a forex trader and also a Crypto investor. I invest for years before I joined this leo finance three months ago. I can't stop doing both because I'm looking for financial freedom. Crypto currency is the way and I will not miss the steps.
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Trading + Investing can be healthy.
We all going to make it bro 😎
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Thank you bro
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And if I would have hold all my (faucet earned) Dogecoins until 2021, then I could have sold them for around $4000 USD. But instead of this I sold them for a few dollars in 2017, when Dogecoin was worth around $0.003 USD, because I have not thought in that time that Dogecoin will have any real value.
Forget the past.
Remember the lessons!
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I can say that I am already one step ahead of the past, thank you to the Hive blockchain community. And I indeed remember the past lessons, and I will try to use the value of/from the past lessons in the future.
I'm proud of you :)
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This is a very nice and important post. But here you have to work very patiently. At the same time, it is possible to achieve success only by working hard and trying hard. Thank you so much for sharing such an important post.
What comes easy won't last.
Hard work and patient are super important in life.
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Just published it @nathanmars
166 yesterday. Also Hivefest 😉
https://leofinance.io/@friendlymoose/leofinance-stats-november-13-2021
Thank you :)
Slow growth is a solid growth.
Solid growth leads to exponential growth.
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I have always followed the development and solutions brought by the projects. So far so good in my journey :)
It’s all about the journey.
The reason we are all here is that the current financial system is outdated.
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Yeah I got into crypto not quite long,the reason for my delay was that I was still naive by then so I kept on delaying it untill few months ago that I invested,but it hasn't pay off yet but I have the believe is going to pay off.why I am glad is that I am able to invest after all the procastination.
Congratulations for getting over your fear.
Now you must learn to be patient and keep learning/exploring/experimenting
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Yeah exactly bro,there is really no time to waste time anymore.thanks so much.i am patiently waiting the fruit to get ripe so I can harvest
Hind sight is always 20/20. If you learn then you will make money. How much depends on many factors.
More you learn = More you earn ??
Crypto is creating this abundance world with so many opportunities to make it in the long run
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BTC at 735$...
What a entry price for long term HODLERS
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Yes, but I believe anyone would have sold in 2017 or 2020 at $ 20,000 BTC
Smart money is just dumb money that’s been through a crash
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AHAHA, this phrase is very nice but it is worth a lot, it has a huge meaning behind the first impact that inspires you to laugh
With the existence of Crypto in ones life I believe there's should always be hope of dreaming big regardless of when you start
Earlier = More Gain
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A long game for me too! If I could only tell my 2012 self that!
I guess we can’t change the past.
Let’s make the most of the years ahead
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A very nice post as well as some awesome tips. There is no greed, no plan or impatience to succeed in less time. This requires a lot of hard work as well as making yourself very skilled in this field. Many have shared some beautiful directions. Thanks.
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Patience is key when it comes to creating wealth with crypto.
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