I am following the Crypto space for 6 months now and I started to think a bit more about it. I entered the market during a phase of all-time highs, had to overcome several bear markets and filled my bags while prices were low.
I am not an expert and I would never could myself an expert, regardless how much money I would earn in Crypto. The reason for this is because, in my opinion, earning money in Crypto is one of the easiest things in the world at the moment.
Of course, there are several approaches how to deal with it, for me, I can say I am an "investor" not a trader. I tried day trading at the very beginning of my journey and I soon figured out that it doesn't work out very well for me. As a result, I started to invest more time in research and only invest money in projects which sounds really promising.
Now at the end of 2017, 6 months after entering this new exciting opportunity, I am here with a 12x of my initial investment. Hard to believe, to be honest. I didn't expect that but I am glad it worked out that well.
Now if you talk to various people in this environment and tell them you made 10x over the last 6 months, it's not rare to get a counterquestion why "only" 10x. When I first heard this I was worried, not only for this guy but also for the whole crypto community. It seems like people forgot how much a ten times gain is especially within this short timeframe. Just think about traditional investments and how much returns you get out of it. Maybe between 4-8% if you are in real estate, or 3% if you are invested in stocks and bonds and it's less than 1% if you leave it at your bank.
I think people start to lose their sense of reality. I mean, of course, you can make more than 10x a year in Crypto and there are enough examples out there, but maybe we should start comparing our ROI with traditional returns to get back to reality and just be grateful for what we got.
Also, everyone should keep in mind that everything could be gone from one the to another. It may be unlikely but you never know. As long as there is such uncertainty in term of worldwide regulations as long everything can be shut down more or less immediately. But people nowadays seem to be greedy as hell.
The latest great example is the increases of the "Coin of the Day" tweets from Sir John McAfee. It needs only one well-known guy who tells people what to buy and all of a sudden the price increase at a ridiculous speed because people fear of missing out some gains (FOMO at it's finest). I tell you what - this is NONSENSE!
Don't be a fool and hunt every tweet of a random person, most likely you get burned at some point.
I don't want to give any advice, I only want that people think of the whole Crypto economy. It's a good opportunity for us as we are really early adopters of a new, possible totally disrupting, technology but some of us should act more rational. What we have seen this year wasn't rational at all and I hope that 2018 is going to be a bit more steady instead of ridiculous price rallies. I am happy to be part of it and I take whatever comes (even it's "only" 100% over the next year 😉)
