I would like to think of myself as a crypto holder. But I wonder at times, am I a holder or am I just scared of taking a hit - scared that if I sell "now" (whenever that might be), I will miss out on some bigger gain down the track. Over the years, I could have sold *some HIVE a couple of times and bought back at decent whale level - yet here I am, nowhere near.
So, so, SO many losses....
It is "part of the game" though, isn't it?
- No risk, no reward.
- What doesn't kill us, makes us stronger.
All that nonsense.
Smallsteps and I make up random silly games and sometimes she gets upset if she doesn't "get it right" or doesn't win enough. It was just today that I was saying that if the games are too easy and there is no challenge or if winning all the time, it isn't going to be fun, as there will be no excitement.
Excitement in games is great!
But, should it be part of investing? At least for me, I wouldn't mind my investments just to tick along smoothly and boringly in the background, paying me a consistent yield, day in and out. That would be nice. That hasn't really happened, though on Hive, I have been able to build enough stake to give HIVE curation rewards. If I had made some bolder moves in the highs, those rewards would be paging handsomely now, but I hadn't the balls.
Perhaps next round.
Of course, I know lots of people who "sold the top" (by their own report) and they don't seem to have got much further ahead than the holders. At least for many of them, who instead of holding for the low buyback and investing again, many felt that it was "easy money" so ended up spending it on random stuff that didn't hold much value, other than the value of the consumer dopamine hit. There have been a few who changed their future, by either getting themselves out of debt or setting themselves up through investment processes, but this seems more the exception, rather than the norm.
I have come to the understanding of what many others with experience have known for a long time, that the "mindset" of investing is incredibly important for success in the long term, as an effective mindset is one that can both be patient and, also be willing to take that hit when times are good, where profits can be made, but there is still enough padding that gains in volume can be made further down the track - if not using the capital on too many superfluous purchases, so that there is some financial availability left to buy the dips.
Sick of dips?
Me too.
But this really depends on our "current state" because for the people who don't need the investment capital right at this time to live and who have extra to spend, the dips are fantastic. This is the time of opportunity that makes legendary gains, but that is going to be down the track. 16K bitcoin shifting to 100K next major pump, could drive the prices of HIVE 20x from here, and while that sounds like nonsense - remember that over the last few years, trillions in debt capital has been pushed into the economy and come bullrun time, it is going to be narrowed into speculative investments.
Crypto is going to make gains too.
But for those of us who have no extra to buy the dips, it isn't a great time, especially after holders like me have seen wealth vanish over the last year at an incredible rate and thinking,
"if only I had sold some of it then and even if I bought back now and this wasn't the bottom"
It might not feel too good right about now, but there is one upside to it -
Diamond hands toughen up a glass jaw.
If I survive through the bear markets (physically), I think the following bull will have been worth it, but how many cycles will I be able to make it through mentally? It is rough and takes its toll on mind, body and spirit and if it wasn't for writing about it all, I think I would have thrown in the towel long ago. But as things stand, there is very little risk of that - I am still "crypto engaged"
And it is very much like a marriage.
Through thick and thin.
The relationship might be abusive at times. At least on my side,
as I scream obscenities at the charts...
I am learning to take a hit.
You?
Taraz
[ Gen1: Hive ]