This video is out there for anyone thinking about staying in crypto or getting into it. I give my introduction to cryptocurrency and a background about me and my experiences.
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About me 0:00
-15+ years in the IT Field
-3 years of Computer Science
-Researched many crypto projects
-Early Bitcoin miner when you could mine on GPU
-Early Ethereum miner and entered @ $17
Common Mistakes 5:31
-Holding and Not making entry/exit points
-Relying on crypto for retirement
-Investing in something you don't understand
Keys to success 8:27
-Invest Time before money
-Research, Research, and Research
-Be willing to admit you are wrong
-DO NOT TRUST ANYONE ON THE INTERNET!
Posted from my blog with SteemPress : https://www.christitus.com/2018/09/15/should-you-stay-in-crypto/
Great perspective! I agree with so much you said! These are excellent times to really invest in yourself with knowledge to learn to blockchain and cryptocurrency landscape in order to apply it to opportunities that may and can arise as we move forward. This technology is still in development and can mature to disrupt many industries and those that understand it can truly make life changing decision in the future. Great to have a person with your experience on the Steem ecosystem! Look forward to more of your content. Thanks!
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Hodl forever and ever amen
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Lambos and MOON!!!! Lazer CATZ from outer space... bullet - bullet - gun - pow - pow.
When I'm retired in a modest house at the age of 60 from working 9-5 and driving my Mazda. I'll think of you guys that are driving around in the lambos, and the rest of you guys that are living on the street pan handling because you blew all your money on a volatile, speculative asset that ended up not panning out.
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I am 50 so I have 10 more years to accumulate $$$ with a mix of 90% Guaranteed Interest and 10% High Risk
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Good to hear man, I just hate hearing about folks late in life blowing all their money on high-risk investments. My mom fell into this trap during the crash in 2009 and lost 70% of her life savings.
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In 2006 I took all my savings and paid for my house.... then the Market crashed... lucky timing
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I have almost the same story, but mine was 2009 and it was right after the housing crash and the government started offering 8k back on tax return if you were a first time home buyer. I cashed out my 401k and went and bought a house and was well worth it.
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With 90 % ultra safe CD/GIC I am way too conservative .... I know
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Maybe Cannabis stocks... Where else would you invest ?
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Maybe something not so speculative and volatile... Index funds over the long term will give a return where crypto nothing is a sure thing.
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Yeah...I find it hard sitting in something that earns 5-20% a year when I can make that in a day... or lose it
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Well, at least you are being honest with yourself. Going in with the expectation of either gaining or losing that is fine but be prepared for the latter. Stock index over a 10 year period of time with compound interest comes out ahead every single time in every scenario. If Bitcoin or another crypto becomes mainstream, they will have a ETF (Exchange traded fund) and be on the stock market. So ALWAYS put the bulk of your investment in this and don't throw away your future is basically what I am saying. Instead invest the time AND put any expendable money you want in those crypto you believe in with the expectation that you will lose it.
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90 % of my Investments are in GIC (Guaranteed Investment Certificate) earning 3.5 % .... so I have 10 % in extremely volatile and speculative High Tech, Cannabis and some Cryptos ... my Cryptos are down about 80 % but it was all Free... Steem, Dogecoin and Bitcoin.
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Very smart and wise expecially if you are near retirement.
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I need to work 10 more years to get a $100,000 per year pension ... I could retire in 5 for a lot less
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I would invest in real estate if I had the money, because house will be house after time.
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