As the title suggests, patience in mining is a virtue, it is also one of the biggest challenges for miners. We as miners are constantly challenged with having to wait. Sometimes it is for that new gpu, the next block, confirmations, or transfers.
A lot of our biggest hurdles when it comes to being patient stems from watching the minute by minute changes in value to whatever coin we have invested our time and labor into. Let's face it, the instant gratification of seeing our wallet value increase during the bull rushes is almost euphoric. Watching them drop can also be very emotionally draining. Our emotional responses to these fast moves, makes us want to do something, anything... That is the trap we lay for ourselves. Emotional trading, mining, or decision making is one of our biggest setbacks, not just in mining but in life. We are all guilty of it, at one time or another. We say things we don't mean, we hit a wall or our pc or somebody else. Without giving thought to the consequences, and then when we face the consequences many times it just fuels that downward spiral. My advice, take some time, take a breath, and think.
Teaching ourselves to be patient can be a daunting undertaking, but it pays off in so many ways. Hell, even in just the money we save by not having to fix a wall, pc case, lawyer fees, or fines... There also other positives to being patient and stable. Being able to wait out market downturns especially in the stock market, remembering that there will be bubbles and they will pop, and even knowing that long term those lows will eventually turn into new highs. BTC is a great example, there have been 12 or so major corrections, each time with the result being new all time highs. The first being the crash that saw an infant BTC going from $7.38 to $3.80, can you imagine the doubts that arose among those seeing almost a 50% correction over 2 weeks.... A little patience and a lot of growth now sees us in the $6k range. A huge difference, there will be more downsides, but if history has taught us anything there will be plenty of upside as well, with just a little patience.
I will leave you with these words and hope they help you weather all of those little or big storms:
"Patience is not simply the ability to wait - it's how we behave while we're waiting." Joyce Meyer
As always I wish you well... RevMike
Posted from my blog with SteemPress : https://www.private-locker.com/eng/cryptocurrency/theories/opinionpatience-of-a-saint-miner/
Congratulations @privatelocker! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word
STOPTo support your work, I also upvoted your post!
Do not miss the last post from @steemitboard!
Participate in the SteemitBoard World Cup Contest!
Collect World Cup badges and win free SBD
Support the Gold Sponsors of the contest: @good-karma and @lukestokes
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Congratulations @privatelocker! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Do not miss the last post from @steemitboard:
Vote for @Steemitboard as a witness to get one more award and increased upvotes!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit