Whay most people will fail in Crypto World ?
It is amazing to see how human brain functions. I guess most people do not understand what Crypto is. Majority does not understand that we are currently in stage where Internet was in 1993. — 1994.
In investing there are few key factors:
- small price
- amount of tokens
First of all Crypto is not about profit. Crypto is about freedom and profit is just subset of freedom cycle and kind of reward at the end. Let me try to explain. Profit of 20%, 50%, etc., will distract many from real game and big picture. Legendary investor Jesse Livermore said: “Be right and seat tight”!!
Very simple sentence but I guess to hard to understand for hurd (people).
Whoever thinks about profit only will just pick up pieces and miss big picture. Never achieve full freedom status. That is why today we have 99% and 1%.
Most crypto traiders and early adopters will never achieve full freedom and gather wealth. This is not theory. I saw that on Bitcoin so far. Most early adopters and tech guys sold their large stashes at range of $30–$50. I know many that had wealth and future in their hands but today still have to work daily job, struggle to pay bill’s and mostly kicking their had against wall every day many time.
I do not intent to name any coins here but this is how this game works.
You should find coin that resolves some problems in real life/world. That coin should have good tech behind that can make resolution of that problem working in real life.
When you find something like that price should be low because you want to accumulate large amount for long term hodling. ;-) You should look into not just price appreciation but as well for “dividend” or “fixed income”. That means it should have PoS or DPoS. That should be investment in “Nest” where each morning you will find fresh “Eggs”. Price appreciation should be your SECONDARY goal. Primary goal is “nesting” — “fixed income”.
“Nesting” will give you psychological stability in price swing’s since drop in price will be compensated through time with staking ( “nesting” ).
Bigger problem will be profit taking and thinking about exiting position in order to get back in at lower price with larger amount. In most, if not all, caset that will NOT work. I made those mistakes many, many times. First hand experience but others confirmed same.
In Jesse Livermore “Be right and seat tight” mantra, be right is not that big problem. And for sure you all know that “seat tight” part is huge problem. Only few will manage to achieve that and only those will be free and walthy in future.
Another thing is that people do not understand simple math and function of time in investing formula. Time is most powerfull, unstoppable, unforgiving force of Universe. In investin TIME make’s difference between 1% and 99%.
Those without patience and who do not respect Time can not be free and wealthy.
First you will have to buy coin that is fundamentaly and tech OK, that resolves some real life problems and that does not have scam dev’s behind and generates fixed income for you. That should not be tough and should be managable.
Next step is to aquire large amount of coins at low price. That is where SHFT is starting. You will have to buy when blood is in the water and stand alone agains Hurd in full FUD mode. Yes, you will need bouls for that one with heavy fight with yourself. That will be your first test. Many will say that they can do that. But only few will deliver.
If you pass that first test there is another test and it is called “Death by 1000 cuts”! You will have good position with low price and nice amount. But do you have gut’s and brain to keep them or brokers/shilers/fagots/speculators will take your freedom and walth from you. Are you material that can/will be 1% in New World Order? It is all up to you. You will survive Naural Selection of 21st Century or NOT! 99% of you are NOT material that will survive and that is fact. But you can blaim only yourself, lack of vision, lack of brain, lack of pure basic math, lack of attitued, etc… In simple sentence — there is fair chance you are NOT Top Gun and you are just average person that will have to struggle for the rest of life and you had all card’s/destiny in your hands.
Basi math is very important and most of you do not UNDERSTAND what basic math is. Let me give you example.
In early days people were running from BTC into FIAT. I used to do the same with part of trading portfolio. Figured out it is hassle and to expencive. I started to hedge with DASH. Buying Dash with $1.2–$2 so I aquired quite few of them and quite few of MasterNodes. Let’s say 1 MN was $2.000. But now there is problem. You have to hold in price swings. You have to fight against Hurd FUD. You have to fight against shillers and others. Only two things you should actually do is remember Jesse Livermore sentence: “Be right and seat tight” and be patience — RESPECT TIME! Time WILL work for you and is your ALLY but requires trust and respect. You will be tempted each day and that is why this is called “Death by 1000 Cuts” phase. Only few can survive that one. And tell me, how much is worth 1 Dash MN today and how much revenue does it generate per year? Should I kill this “cow” that brings “fresh milk” every day for stake? ;-)
There are coins out there that will/are working same path right now. You can say that there is bloodbath this days. What I see is FireSale and great opportuinities — chance to fix some mistakes I made.
And for the end IMO Bitcoin is KING for many reasons. For some time for sure it will remain that way. But remember that even King need’s Kingdom with servants, army, and whole ecosystem. Bitcoin need’s ALT’s becouse without them he will be King without Kingdom and King without Kingdom can not prevail.
Good luck to you all.