You may have heard of (or maybe watched a video on) The marshmallow test, a famous psychological experiment that examines self-control, delayed gratification, and their relationship to future success. The marshmallow test was first conducted in the late 1960s and early 1970s by psychologist Walter Mischel at Stanford University, and it goes something like this:
A kid (or sometimes two) are brought into a room and given a marshmallow. They're told they can either eat it now or wait a little while and get two.
Choices, choices.
If you're curious to see how they handle it, watch this video. It's fun to watch their behavior:
As expected, a lot of them ate the marshmallow immediately. Others (long-termers) waited the full 15 minutes to earn the second marshmallow.
Mischel and his team followed up with the participants years later (when they were either teenagers or young adults) and found significant correlations between the ability to delay gratification in preschool and later outcomes.
Children who waited longer for the second marshmallow tended to have:
- Higher SAT scores.
- Better academic performance.
- Lower body mass index (BMI).
- Fewer behavioral problems.
- Better social and emotional skills.
Interesting, right?
Even though we know something about the effects of compound interest and delayed gratification, many people still chose to spend way too much money on clothes and eating out. Not only that, they even send their valuable cryptocurrency to exchanges during bear markets to turn into Turkish liras to pay their phone bill.
I'm not implying we shouldn't spend any money. I'm just saying don't spend more than you earn, don't use your credit card if you can't pay it off at the end of the month and certainly don't buy $600 Golden Goose "pre-distressed premium sneakers".
source: reuters.com
When it comes to your cryptocurrency investment, consider building a portfolio for the long-term. Acquire some bitcoin and hold on to it for 10 years; even if it's just a few sats at a time. If you're reading this article, you're probably familiar with the HIVE ecosystem. If this is the case, I'd like to remind you that if you are providing value to other community members, you WILL receive value in return in the form of $HIVE and $HBD stablecoin.
Once in your wallet...
- $HBD in savings earns 15% APR
- $HIVE staked as Hive Power earns 2.89% APR
- Curation rewards on Hive can range anywhere from 5% to 12% APR.
That's money on top of your money!
So consider shifting your strategy from a cash-out now to a long-term HODL. Every day there are more individuals who are willing to exchange HIVE and HBD for services like design, management, editing, coding. Not to mention full on teams and businesses.
With the development of Leo Merchants and VSC, one day, you may not even have to leave the HIVE ecosystem to buy food, medicine or pay rent.
You'll be able to stay digital and do business with others without having to use a bank and without asking for permission from governments or corporations.
The future is bring my friends.
Don't miss out.
