risk reward in real life

scandinavianlife (67) in freedom • 7 years ago (edited)

It's very difficult to predict..but right now, the way things are going, the way people flee Facebook, the way decentralized applications is on the rise, the momentum we're getting, the fact that steemit has no real competitors, the fact that Steem is the fastest and possibly best blockchain out there..it looks to be pretty undervalued. But one should be conservative. I think the latest raise in price up towards 10 dollars gave us a good indication.

freedom blog cryptocurrency psychology money

7 years ago by scandinavianlife (67)

$73.28

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dedicatedguy (74) · 7 years ago

Even though crypto returns have been incredibly high this past few years, the market is still small and the technology is still sort of a niche, I mean, almost no one is still using blobkchain in large scale, so the room for growth is incredibly huge!

About the level of independence, being level 1 and reaching level is just a matter of good work and good planning, now, reaching the third level, the rich level is much more difficult because you need to find extremely good opportunities that aren't common.

As you say, crypto can make any level 2 person reach level 3, a lot of level 2 people are millionaires because they bought bicoin early on.

I really hope crypto keeps evolving and growing, because it will not only help us all here in this community, but it will also be good for the entire world, riches apart...

Having said this, I think your decision of getting involved in crypto is wise. I don't if you dare to make a prediction about the price of steem in January the first 2019 haha?

I have seen some crazy predictions for the next few years, even reaching a price of 100$ per steem that would be absolutely crazy.

Check the answer I got from @andrarchy here comparing ETH with Steem and explaining why steem might be better .

Cheers mate!

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vieira (63) · 7 years ago

Hahaha I totally agree with what you said here. I currently have 99% of my money in cryptocurrencies, the money in my country is useless, inflation evaporates the value. I think it was type 1, but I became type 2, there was a time when I worked all day in the office as a slave, and could not pay the bills, sometimes I had problems even to pay for public transport, damn , I had to walk to the bus station where the private transport of the company went, that was a little over 5 kilometers, but since I started with the cryptocurrencies, I have freedom, I have my own schedule, there are days that worked much more that when I was in the company, but most of the time I'm simply free, especially because I spend the money on the things I really need, I do not buy garbage. By the way, I would also like to drive a porsche, it has been my dream car, although it does not necessarily need to be the 1990 model.

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voluntary-io (43) · 7 years ago

Not sure what category would I fit in, but working to feed the family and just survive a day to day struggle was never my thing. I'm rather a modest person not needing much to enjoy living as I grow up like that and I do not hesitate to commit to risky decisions. The reason why is simple, I know how much I do spend and need for living, not much, the remaining usually gets invested in one thing or another. Also half wins are not really my thing. A better car or slightly bigger house? I always wanted it big. I guess the most important thing is to always have a dream and a potential to progress towards it. Like someone smart once said, "It's not about the destination; it's about the journey."

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biga3723 (39) · 7 years ago

Enjoyed reading, been a few days out of town so I missed a few of your posts. I personally started buying rental real estate right out of college and I guess I would be what you call a level3, I have a near 8 figure net worth, 9 properties mostly Office parks, and zero debt...actually I just paid off my last mortgage Feb of last year. I recently entered crypto last year and just from mining, I was making more every month off a small farm I paid $35k for compared to what two of my 4plexes worth about $900k are bringing in, it’s absolutely crazy. I’ve diversified some of my portfolio into crypto investments, but the mining has been amazing, it’s like you have a machine that prints money. Since I was young, my goal has always been to try to grow my passive income so that I always have revenue streams to fall back on. Also, I have always tried to eliminate debt as soon as possible. You can be a wealthy person working 12hrs a day as a CEO of a big company, but to me, money is freedom, freedom to do what ever I want whenever I want. I have now grown my passive income to the point where I earn more than enough just on passive income to pursue whatever makes me excited and for past year that has definitely been crypto. For all the people stuck in 9-5 jobs, they need to make that investment in their future, maybe that means one less meal outside, one less movie, waiting longer for a new pair of stylish shoes, put that money into investing in your future, and crypto is a great way to do that.

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wealthy-easily (51) · 7 years ago

Interesting view. What I've learned is that risk is subjective when it comes to investing. Banks say risk is what you get with a potential to earn. The safest investments according to banks are those that make you no money. They are actively organized so that no money is lost, no money is gained. Whereas, the low risk investments like index funds, which guarantee you an ever growing wealth are high risk according to banks, because they go up and down. Cryptocurrencies, well, personally I don't know what to make of investing in them. They seem like a high risk investment, but then again they work. The biggest problem I see is that people have absolutely no clue as to what is a valuable cryptocurrency. The oldest and the newest cryptocurrencies dominate the top 10. The cryptocurrencies which have the best proven track record of changing with the times don't do that well, but they live on. Maybe 2018 is finally their year?

Also finally, I'd like to share my own interpretation of your slave, outsider, rich division. I myself tend to think with poor, average (these two are slaves), financially smart, wealthy (These two are maybe close to your outsider), and finally rich. Rich people in my view are really rare, they are those who have so much money that they don't need to be financially smart, they can use money as they wish. They are those true outliers we rarely see.

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izge (51) · 7 years ago

This is an interesting read, your post has good content.

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afdal (43) · 7 years ago

Nace, I vote you

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