1.-A brief recap
It's been a bad week for crypto in general, I get it. It's been a bad week for me as well; no stories of rags to riches or masterful trades resulting in quadrupling my net worth overnight. I must be the only idiot not raking in the ash hand over fist.
What was that again?
You mean you are not raking it in either? It's not possible? It's not happening? Lies. Let me prove it to you:
...and that wasn't even the highs of the day!, so had you gone in with a meagre fifty thousand satoshi (plus Cryptopia's fee) you would be looking at a beautiful... let's see... one million seven hundred thousand satoshi! not bad for a days work right? I believe the high of the day was five thousand percent though, so you do the math.
Of course not all days are going to be so good, that was friday. Today, sunday looks like this:
The dark theme was put in place on purpose to signify that compared to two days ago, this is a dark day for trading in CRYptopia (pun intended), with a meagre hundred and something percent increase. Had you taken that million seven hundred thousand you made from friday and put it in FFC you'd be looking now at three million six hundred seventy two thousand satoshis (not discounting trading fees of course) but then again it's higher than the BTC increase for the week so you would be doing good by all measures. Lottery mentality, lottery mentality, lottery mentality...
It's not that simple you Idiot
It's not that hard either. you grab a million satoshis (cheap as chips now) and you play your numbers... I mean, your criptos. You then start looking for PnD groups everywhere (and I mean EVERYWHERE) and record the ETAs of said pumps. You make a list and you then sit in front of your computer with a beer, some popcorn and Netflix.
As a matter of fact, starting February the first that will be a daily post from me. Feel free to give me feedback on how to improve the system, cheer on my losses or just generally enjoy yourself with what I do.
You are welcome.
What now? (the rant part)
There are a lot of dead projects and downright scams among those coins? who cares? this is trading right? you are not in for the tech, you are in for the money.
If you (and everybody else) were exclusively in for the tech I reckon about fifty per cent of all ICOs would not collect a dime, another twenty five percent would not reach anywhere near their hardcap and Bitcoin dominance would no longer be a thing as the coin is overwrought with internal political interests, old tech not coping with demand anymore and fees that would make Western Union and most credit card fees blush.
Don't kid yourself. Most of us are here because we want to take out more than we put in, one way or another. The point at which fiat stops being relevant and you deal only with your crypto millions might come one day but it's not going to be today. Not this month. Not this year either. Plus, I bet your local dealership will not let you pay for that Lambo with Bitcoin. Only John McCafee can pull that one off.
P.S. If you read my first article you will remember I left a question there about what was it that I am missing. What I believe I'm missing is a mentor, someone that has already walked the path I'm walking and can guide me through it. If you know of a decent one let me know, I will be forever grateful. It's definitely less painful than trial and error, right?