Hello Steemit.
I may be a smart man or I may be an idiot. Regardless of which of these comments are most true, one thing I am is committed to the cause. The old saying goes "Put your money where your mouth is" and that is exactly what I intend to do from here on.
I'm sure many of us in this cryptocurrency world, as diverse as we are, would agree on one thing above all else: that we do not like and do not trust the banks. I for one feel as comfortable with my money sitting somewhere within the internet as I do with it sat a banks intranet, if not more so. This year I decided to take my savings seriously, that I wanted to stop buying (as many) cigarettes etc. and that I wanted to save for something long term. As such, a savings account was opened and my money was transferred week in week out to said savings accounting, achieving an eyewatering interest rate of... 0.2% a year. I hope my sarcasm translates well over text.
Sure, this time next year I could have an extra £8 from £4,000 by just leaving it there and I could possibly treat myself to a pack of cigarettes that I'd not smoked all year in return for this extra £8, or I could invest it in cryptos and watch it grow presumably much higher than an £8 profit. Yes, I understand that there is risk, but I'm not here for an easy life, I'm here for one of excitement and where my money influences the technology of the future, where I get to be part of a movement and not just another client for a bank manager to claim a bonus on.
On current progress my investments have made me a lot more than £8. I will not be revealing my figures, but 0.2% is now a laughable figure that I would never look to again. I have more than doubled my money (and this is based on today's figures after a large decline in all assets) and at one point have more than quadrupled my initial investment. I would chose this over 0.2% interest every day, even with the risk and in fact, especially because of the risk.
As such, the reason for the article title being "Cost Averaging, Sorta" should become clear. Screw the banks. My money will instead be invested in cryptocurrency week in, week out and will gain it's profits there instead, away from greedy bankers and away from 0.2% interest rates (which are themselves subject to change, though usually only downwards). Today was a good day to start such a process, so that I can, like the rest of us make the most of this decline in the market. Will I eventually remove money from the market and take profits? Of course. But I hope for the rest of you that it does not have the same negative affects upon the market that we have seen today possibly from this very action. Will I ever have no money involved in crypto? Not a damn chance. I am here for the long run, I do not just want to be a trader of this, I want to be a user of it. I hope 2018 gives us more chance to do this. My British pounds are almost worthless to me now, I view them merely as a way of investing further into cryptocurrency (and sometimes as the odd CigToken).
I unsurprisingly now want a cigarette.
HJB. CryptoKnight.
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