If you are emotional about the cryptos, then you have the wrong money invested
If you have invested money you can loose (Risk Free Funds), then every down market is purely profitable
The only reason folks get emotional and possibly even irrational, with their investments is that they Speculated (not invested) the wrong funds. As example if you used retirement money, special reserves for an event or special purpose, bills, etc. in an attempt to grow them for use, then you become emotionally chained to them.
We change and lose mental clarity and purpose
And we all know when we get emotional, we act irrationally... as we are time constrained (I Need It Now), and have more important need for those funds than a risk. It is no different than the Gambler that goes to the horse track, casino or bookie, because this time they will hit it big.
Investment instead of Speculation
If you use free money, that is not needed for immediate use, then it completely changes the dynamics and allows you to invest for the long term... and most things rise in price over time, except the fiat money you use to invest. The difference again being time, urgency or immediacy involves emotion. Putting money into any type monetary or equity venture with a time constraint begins the emotional roller coaster ride as you speculated on quick growth and return... good luck with that.
What is free money then
Free money is your pocket change, a skipped overpriced Starbucks coffee, a skipped movie, a cash gift or gift card from another person. Maybe you take or create side work for extra income, downsize your home... or put off a new car for a while.
Hey how about this, develop your Steemit Account
You have the perfect opportunity to remove the emotions from your investments right here, you may even be reading it. I have never seen an easier way to build an investment vehicle as I have seen with the Steemit platform. It can be built in spare time, involves no travel, you have no overhead expenses, you do not need insurance, licenses or any extra costs to develop... the only thing you need is time and patience.
Time and Patience are the pillars of investing
And with no urgency or risk of needed capital, you bring with you no emotions on your journey. You are FREE to build in ways that your emotions and needs would have rendered impossible.
Steemit is a FREEDOM Generator
PS: as the stock market collapsed over 1900 points with 666 drop on Friday and 1175 (flashed to a loss of 1600) on Monday...
the emotions of many people are running very high. They see Gold and Silver in a strangle hold, their stocks (mostly their life savings out of their control) on a roller coaster of illusion. And now they are experiencing the crypto's fizzling away.
Tangible assets are of course reality, but even those are difficult to protect and even keep in the worst of times. Before you invest your free money in anything, make sure you have food, water, protection, situational awareness and be prepared to move from all your possessions at any given time. There are NO GUARANTEES, think accordingly.
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Image Credit: gobankingrates, jalapenovatoloco
Great post @kyusho! I have had some people I know get emotional with me (and yes, some irrational as well) recently in due to the recent happenings. I couldn't really figure out why (I mean I could but, wow?). Then I realized they "gambled". They utilized monies they really could not afford to lose.
When I got into cryptos I used "free money" (as you call it). Small amounts of (extra) money from odd receivables that weren't required for bills or what have you. I then purchased an amount of crypto via my credit card (in the amount of my free money earned) and then paid off that purchase amount. No brainer really.
So the result for me is, I'm a pretty relaxed dude. I invested, rather than speculated as you mention. I also educated myself about cryptos (and continue to do so), asked questions and took time to think. The taking the "time to educate myself" allowed me to gain an educated opinion on the future of cryptos thus forging my personal development plan into that market.
As you said, there are no guarantees and YOU have to THINK for yourself.
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The FOMO, fear of missing out captures many a soul and in doing so creates stress, panic and depression for them. Wait until the market ten folds this year... you will see more! Keep dripping in the free stuff... good luck with it.
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This is the chance for going town the crypto market
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Yes it is... but there is one Crypto or Token that has not suffered devaluation... few still see it.
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@kyusho........great article about blockchain..........you obviously know that our cryptocurrency market condition too bad..........i think ......this time the market condition break the past record,,,so why don't the people get upset .....any way ,,,,,,,,we have to keep patience and don't loss our willpower .........i hope,,,everything will be all right ......
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Because they speculated rather than invested... actually many just gambled.
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Great post! I have upvoted it! Maybe you can do the same at my post.
Keep doining your great job i love it.
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The best comments are from those that comment on the information, they gain better reward and help more people with a real thought and idea from the post... if you impress people with comment according to the content, you will gain more followers as well. Just a thought to help you.
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this is great article ..... dear friend ..........
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The best comments are from those that comment on the information, they gain better reward and help more people with a real thought and idea from the post... if you impress people with comment according to the content, you will gain more followers as well. Just a thought to help you.
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