What's in a name?

I want to be clear, at the inception, that while I am a fan of SW I did not choose the name Cryptosith out of fanboydom, but to illustrate the way it feels to step into the bitcoin realm and begin investing. As you're getting started you have the preconceptions the media has fed you making you think its this wicked fake money used by drug dealers, and even using it makes you a criminal. That the bubble will pop any day, should have already burst in fact. That scammers will steal your funds, or you'll simply lose everything out of incompetence without the centralized banking system to keep the wolves at bay. Or, in short, it feels like the dark side of currency. Plus I totally am a fanboy, so it felt appropriate and fit snugly with my mindset when I initially engaged the block chain.

So this, as well as the other blogs and channels I intend to create, are going to be a type of amateur documentary of my journey and experiences as a regular person getting into this arena for the first time with no experience.

there exists already a litany of youtube channels and steemit accounts that del with this topic, but almost solely from the perspective looking down hill from experience and success. While much of that content is very informative, it misses key facts that a first time user is going to really have questions or insecurities about. There are experiences I've had in the last ten days which have not been touched on at all by the community at large, and if they had been I'd have saved some money and made more in my dealings than I did. I did well, to be honest, regardless of my inexperience. I have to admit it was at least half luck, but there are timing issues and waiting periods, and fees to consider with each trade and how you mash that up to decide where your stop loss is and when to sell on a rise (or when a coin goes parabolic) and how to tweak your sell orders to move them quickly, or set them to auto sell at a certain price level.

Obviously a lot of this is intuitive to one degree or another, but its a big system to hold in your head all at once, and there is no beginners guide. You either bank or you fail. I want to work to make a somewhat clearer path for my followers to take so they can avoid some of the costly pitfalls I did not manage to evade. You won't always win, and if the last two weeks has taught me anything, you'll usually lose. But if you lose smart when you do win those gains the payout is substantial and worth the losses. I made more trading online today than I did doing concrete for 13 hours Thursday. Let me just say, THAT is a curious sensation.

There is no limit to what a disciplined mind can accomplish, and if you're just starting out, I urge you to scrutinize and discipline your own. Your mind is your best weapon and only armor in this industry, and it is also your greatest adversary. No one is going to give you anything for free that's worth having, and they will absolutely not slow down so you can keep up, nor have sympathy at your failings. You have to double check yourself, every time. You are the arbiter of your own destiny here, and will have only yourself to blame should you fail. Know thyself, master whoever that is, so you may guard against your own weakness. Let me reiterate; YOU are your biggest adversary here.

Anyway, more to come. Going to put another post together later today regarding how to most effectively diversify, in my opinion, your initial investments to maximize growth while remaining deeply cautious with your funds as you begin to wade into these waters. I'll also be doing some videos and linking to some groups for cryptocurrency rookies to get a clear grasp on how you go from having USD to having bitcoin, and what to do with it then.

Be cognizant, but be brave as well. This is a lot of fun.

peace