When things are on sale, people like to buy. It's a great deal, right? That is often true for our crypto investments also.
The question we have to ask ourselves from time to time is this: are we proceeding according to a plan or are we all over the place, hoping something will pump and make us rich?
I used to be in the latter category in my early crypto journey, and that part of the journey didn't end up well for me. Now all I do is with a plan. And sometimes with backup plans too, in case the primary one doesn't work out as I thought it would. And sometimes I do tests outside my planning, to see if a change or different approach would be beneficial.
My plan is simple: focus more. As opposed to diversifying more. And set goals for the projects you focus upon.
I have 3 main focuses:
Unsurprisingly, all of them show up in my weekly Hive goals posts. And nothing else.
I willingly let some opportunities slide by me. And I understand I may not see something like that again. Even in Splinterlands, with all the resources I generate there, I can't be involved in everything without hurting my other objectives and thus, becoming average in everything, rather than closer to the top on my focus points.
One has to think about the cost associated with opportunities. By taking one opportunity, you automatically use a resource that had a different purpose. Even when you use cash or any liquid asset just sitting around doing nothing to buy something, you trade something liquid (and often more stable) with something often volatile or illiquid. Obviously, there are times when the potential reward and the associated risk look (much) better than the opportunity cost.
I don't necessarily believe the number of projects to focus on is the best metric, by itself. In my case, it is a combination of how difficult the goals are and how much attention the projects need from you. I'm thinking next year I'll have more goals, but less strict. But we'll see. Most likely the HP goal will be less demanding.
