Let me be first to admit one thing, I jumped on Steemit with zero knowledge of Blockchain Technologies as well as very little knowledge of cryptocurrencies--For those new to this world, trust me, the two are different.
I have been playing the cryptocurrency game since last spring and guess what? I still know very little.
About the time I purchased my first cryptocurrency, I jumped onto Steemit AND, I did so without really knowing anything other than the chatter on the street about how Steemit was about to take over Reddit, Medium, Facebook, etc. Oh, and you could get paid to write for Steemit.
I began to follow key individuals who I believed knew a lot more than I regarding blockchain and cryptocurrencies. I was eager to learn. Interestingly, some of those individuals were possibly more mob rule-social think types than true intelects within the sphere. Others, yeah, they were as real as it gets and continue to help with exceptional wisdom.
My mistake was my own.
My mistake was listening without truly vetting those whom I paid attention to. I found some had specific stakes in key coins they pushed. Others, not the case. But I listened blindly.
Thankfully, I was not financially crippled from my "trust" which I put in many folks here. Actually, I am grateful I had the intestinal fortitude to trust (it is something I do not do easily).
I saw a very stagnant market in two or three cryptos. I said many ill things about Steemit--not publicly but to myself and not about the platform but some who provided their insights.
Let me come clean here--I AM INCREDIBLY SORRY for the words I had in my head about those individuals.
As a platform, Steemit is exceptional AND, I honestly believe the folks here mean well with hopes to help bring people up in their knowledge.
BUT, I needed a break.
I needed to take a step back, regroup, refocus and basically start from scratch.
I needed to take some me time. I needed that me time to clear my head from the fog of everything I read here and begin to look at other literature which includes a plethora of White Papers. Yes, I needed to do my own research versus listen to everyone else.
Today, I can say that I am prepared to listen once again. But, this time, I am ready to listen with just enough knowledge to form my own opinions and execute my own financial actions. Of course, by me listening to those much smarter than I, I absolutely know for certain my arms will be twisted easily still which I accept is not a bad thing.
Folks, this is humbling to write. It is not easy accepting where I once was believing I knew enough to risk my and my family's economic stature. But today, I feel confident in taking some calculated risks--calculated risks which some of you will likely passively influence me to take.
To every new person in this crypto game, please listen to me.
If you are asking yourself why you need to start paying attention and doing your best to understand blockchain technologies and cryptocurrencies, let this be a lesson...
The overall market cap for cryptos is now over $600--billion dollars--which is up $100 billion SINCE JUST THIS PAST Friday!!!
Call it a boom, a bubble, whatever. No matter what you call it, it is very real and is NOT going away no matter how some would like it to disapear.
Folks, I don't understand this stuff the way I wished and I admit this. Trust me, I am no expert (actually quite opposite). But, I take at least 1-3 hours studying blockchain and its developments every day I can.
Why? Because this is where the world is headed.
Dont take it from me. Take it from that 100 BILLION since just this past Friday.
Use Steemit and its writers to help you better understand. BUT, YOU MUST DO YOUR OWN RESEARCH OUTSIDE JUST STEEMIT!
Where should one start? Blockchain and cryptocurrency videos on Youtube, White Papers, meet and greets, conferences, etc. No place is wrong, no place is right.
Everyone knows it is critical to diversify your financial portfolio. Do yourself a favor, and diversify your knowledge and, the places you obtain your knowledge.