Anyone staring at the charts with a look of disdain and the thought;
I need to get out of this shit.
?
No?
That is probably a good thing. Although the kind of dip is not unusual or unexpected, but it nearly brings in some kind of emotional reaction, with very few saying, "Yippeee! I am buying more!" If they were, it wouldn't be dipping, would it?
I don't think anyone is completely immune or insulated from the feelings of loss and the fear, uncertainty and doubt that comes with dip territory. But, some are more experienced than others and in general, that delivers a far less reactive response to those long red lines looking for entry to the cellar.
I have a fair bit of experience with these things, but I still get the emotional reaction and I think that it is also affected by what else happens to be going on at the time. When obligations are low and there is plenty of money floating about, the dips have little effect. But, when we are heading into a potentially strong and long recession with rapidly increasing prices on essentials such as energy, fuel and food, the dips feel more like a hole in the lifeboat.
The good thing to remember however is, the real-world economy is a piece of crap, so we would have to deal with it anyway, regardless of what crypto is doing. Sure, Even for those who cashed out at earlier, they are going to be affected by inflation also, though depending when they cashed out will dictate how up or down they are. And this by extension will indicate whether they have the potential to invest into the crash, survive the crash, or be consumed by the crash.
Which are you?
I figure I am not the only one somewhat concerned about how to deal with it, but I am hoping that at the very least, I will be able to make it through with minimal debt extension. This way, I will be able to recover a little faster and then get in closer to the bottom earlier. Even if I miss the bottoms, I will still be able to make it in before the majority who are taking longer to pull back to even than myself.
Getting in early is obviously ideal, but part of this is about recovery speed too and those who are better prepared may still fall into the red, but not all the way into the basement. Starting from halfway up the stairs, is still an advantage over starting from the bottom.
Right now though, I am struggling to get a grip on everything that is going on, so while I am worried about our financial future, I just don't have the time to spend thinking about it. It really is only at times like these that I get to reflect and act toward improving conditions, and it really isn't enough. It is somewhat of a catch-22, as what I need to do is spend more time working toward it, but I don't have enough time because of the time I spend working toward it.
Lame.
And useful, because working toward it somewhat and not having to spend too much time thinking about it, takes off the mental load, as well as means I don't need to dwell on what is outside of my control.
How quickly do your moods swing?
I was talking to a colleague the other day about trading, and how some traditional traders struggle in crypto, because they can't switch it off. They are used to markets being open and, markets being closed, but crypto is a 24/7 deal and there are Always opportunities out there. If you are chasing the best return;
Never Sleep.
Of course, that doesn't work though, does it? So, we have to find strategies to "get away" from the activity and constancy of it. For me, that happens to be writing, where during these time and even while I am talking about these things here, I am in a "different world". But, it is a world that facilitates and enables a better outcome ,as it allows me to think through my various challenges with the benefit of distance, like being an observer of the conditions, not the person affected by it.
It is like going for a walk when angry to cool down and clear the head, because no good comes of acting from a position of stress and emotional imbalance. And, you might even notice in these few words written here, that there has been a mental shift in my mindset and I am slowly moving into a more positive frame, a position from where I am far more capable to make good decisions.
So, while I am not able to retire yet (or even for the night), I will be going to sleep with a far lighter mood than I might have had otherwise, if I had instead dwelled on whatever negatives might be happening. I am not ready for bed yet though, there is still much to think and that might yield, more to do.
If we want to survive the economy, we first have to learn how to survive ourselves.
Taraz
[ Gen1: Hive ]
Posted Using LeoFinance Beta
Bought Hive today for the last thousand HBD. Now I will count my expenses in Hive and not in dollars)
Great idea - wish I had! :D
I was at work when it dipped hard and didn't have a chance to do anything this round. Next time.
This bear is not bugging me as much. I really feel like it is a totally different feeling than the last one. I wrote a post about it today. I totally agree with the part about not being able to shut the markets off. I can't tell you the number of times I went to sleep and woke up to find I missed out on some epic price of Hive or something like that. Oh well...
Posted Using LeoFinance Beta
Yeah - missing some of those massive runs sucks, but so does staying awake over the massive drops too - I am glad I am not in that mind-frame now. Once upon a time, I would get caught up in it :)
I love sleep too much to ever get too tangled up in it. There is always another opportunity around the corner.
:D
HBD is at or slightly above 1.00, I bought some hive with some for slightly more than 2 for one. I also on one day bought some HBD with hive for slightly less than 2 for one hive.
I know there are some that see just the penny changes as not being worth while and one post even said it was a complete waste of time. I never sell all for one and am trying to maintain some liquid HBD and liquid Hive for just playing the minimal trading game.
It is something to do, and does not effect my real world finances at all, but things are tight, gas and food going up and retirement income remaining the same. That is something people thinking of retiring need to think long and hard on. When you first retire, things are okay, as time passes, cost go up much more than retirement income goes up, so it is a losing game.
Not a bad deal!
That is a very good point about the changing costs during the time of retirement. I think it means that to maintain a steady standard, there would still need to be investment income generating outside of the pension income.
There really does need to be a passive investment income to aid retirement income. One day Hive might help me out, in ten years I am sure Hive will help a lot of people if they could just power up for the future instead of take it for the now.
The "one in the hand" mentality is very strong these days. Patience has gone out of fashion, but eventually, those who are, will control it all.
I have been through so many bear markets, and studied previous economic cycles.
While I did not fully capitalized on the last decade of the bull market, I am in a good position. I am debt free and own a home.
I was very focused on paying off the mortgage and living within means.
Now, I continue to stay diversified and DCA without any worries 😉
That is a great position to be in - congrats! Will you use anything extra to buy the dips?
Of course, always have a price target ahead of time to buy the dip to stay on strategy.
Taking emotion out of investing and immune to fear and greed.
The beauty of Hive is that if offers more than just price action. I didn't even notice the dip until now because I wasn't monitoring it. That's what happens when you go beyond buying and selling
This is true. And, even if you do notice, there are plenty of other things to do in the meantime :)
I'm just now getting in, and in a big way. I listened to what Hive folks said about this very month's long dip as inevitable, waited for it, and have been buying since June. Thank you to everyone on Hive for your guidance! Now I'm waiting for bitcoin to go under 18k to purchase more; it got close today! I feel quite certain that I am doing the right thing with my money, getting a chunk of it out of fiat, and into the future.
If this all works out as some predict, I am pretty sure that many of us will be pretty glad that we stayed active here and, actively bought along the way. I really hope it does!
Right, if they didn't invest that cash into an assest such as real-estate, they were already affected by inflation.
Yep and, it is likely getting soaked up on consumables anyway.
I decided to uninstall all exchange apps and just not look at the price. I don't even know why I did it in the first place because I'm here for the long run. I have some pasive income investments and I DCA something every month. For the next bullrun I will be prepared with my bags full of good projects.
I can't lie that I don't get nervous sometimes when the prices just dips and dips but gotta stay strong and keep ours heads cool. We will be victorious!
Not a bad way to go to uninstall the exchanges, just make sure you have your bags stowed in private wallets :)
Absolutely agree. It was more to stop compulsively checking prices all the time. My bags are safe!
I could never be a trader! I don't watch the markets, my Hive is organic, and since I have no intention of selling I am not affected by dips. When Hive gets to $10 I may sell some, until then I'll just enjoy my VP! 😁
Being a trader would suck! I limit my exposure to it. $10 dollar Hive sounds pretty good :)
Haha. I often think about this too. It doesn't matter when anyone decides to cash out, there will always be inflation waiting around to eat it all up.
Which often leaves me wondering, what's the use of all of this if inflation will keep eating into our hard-earned money whenever we decide to spend it?
Inflation and consumer goods. I wonder how many of them bought real estate or invested into a generative asset.
I feel the other way around.
When it rebounds 😔
When it drops 🤩
Have cash waiting to scoop up a lot for cheap 😆
As said "not many" :D
Being self-reliant is a blessing in times like these. I doubt too many will ever be able to retire. That would and dream will be an antiquated word from the past. We must be smarter than the system. Dips are buying opportunities like the old Kmart blue light special. But the economy is a disaster and I am afraid it well may be on purpose. Be we are not supposed to have brains and think for ourselves. Just be fed what the state run propaganda tells us. Those who can think for themselves and become independent from the system may be the ones who will see the dream of retirement.
I believe so. People seem to think crashes are normal for an economy, but this is not the case unless it is poorly planned and manipulated.
Honestly, that's why I try to find a balance in everything I do. Might be meditating, praying, listening to music, or even reading books. Anything to ease myself. Because at end of the day, it's me first. Me first.
There is always something to do - rather than wait :)
As you put it, Mr. Taraz is to learn to reconnect with oneself, and to organize that is a priority to foster habits of openness, acceptance, and tolerance (graduating the pace) as appropriate. At least as far as possible, it works that way for me.
It is impossible to offer something to others if we are unable to do it starting with ourselves...it will be self-preservation with the corresponding care and this for me applies to any environment whether social, economic, financial, family, or work....
Light for the house first and then for the street.
Receive a cordial greeting.
Self-sufficiency is far hard to accomplish than many people actually give it credit. Money is only one aspect of it and there are many more, but I find it interesting that emotional control seems to not be a thing people are interesting to develop.
As you rightly say, many people are not interested in developing emotional control, the pitiful thing is that this group of people does not learn to manage emotions, they miss out on being in harmony with themselves and seeing the clearest objectives and how to achieve them.
It is always good to learn to channel and process the negative and positive ones, achieving a physical and mental balance is always necessary for survival and adaptation in life, it is written and said to be easy, but it is one step at a time Mr. Taraz, but it is worth trying it.
Life is all about swings, you have to take them as they come and undergo them. But that doesn’t mean you can’t take advantage of them. Which most people don’t… I try to do that, we’ll see where it gets me
Hopefully it gets you far! Would love it if a whole lot of people on Hive were able to change their lives for the better forever.
Writing is your safe haven....I learnt that much and while everything else is looking so uncertain and bleak.. dwelling on it wouldn't actually make things better...I for one have decided to face all that energy towards hive...when prices are low , I tend to do more writing..since I don't have enough to buy the dip..I might as well earn through written.. thanks for sharing ❤️
For sure - if you can't buy, work to earn :)
Yeahhh. ..it's as simple as that..but not all that simple ,ha
Eyes Ahead...
I can't imagine that you would retire even if you could.
Speaking about dips, it's an interesting hobby looking for the thing that dipped the most against the value it potentially offers. Having small amounts of capital, I am looking for the dirt cheap.
Like some Splinterlands single cards, right now. It's amazing what you can get for 0.02 or 0.03 while also remembering time it traded for 7.00 USD.
I keep on scraping the bottom and waiting for another miracle. There are some reasons it might come.
Lots of reasons it might not, too. Time will tell.
Right now, I am quite undecided about USD to Hive/BTC ratio short-term direction so I am trying to keep 50/50 so that I am able to get at future dips but also have some investment. However small and symbolical.
Nothing to loose that was mine since birth...
...But my time. But that's another topic.
Looking at the prices really works against you mentally. It's much better to just not look at it if you are looking at things long term. It's kind of weird how the market is so unpredicatable.
Posted Using LeoFinance Beta
A DIP is always not a good feeling, especially when you have money involved in the red. At least in your case, when you write, you seem to release your mind of being completely in another space.
Credit: jmis101
Earn Crypto for your Memes @ hiveme.me!
Useful.