For some the reality of being financially illiterate begins to set in after making bad financial decision(s) that could see us land in debt which might take years to get out of, sadly for some the reality of bad financial habit never sets in, it becomes a norm and life goes on.
The quest for financial freedom comes with being smart and disciplined financially as a result we get into the endeavors of investment and speculation, unknown to us we might be misunderstanding one for the other.
When we look at investment is mostly associated with long term, the goal is to have the initial investment money multiply over time.
Speculation on the other involves an investment with the risk of losing higher than gain.
Bitcoin in relation to investing and speculating.
Most flock to Bitcoin when the price is mooning, driven by hype some throw in money with the expectation of high returns within a short period of time, financial transactions of this kind most will define as investment but this is pure speculation.
It becomes an investment when bitcoin is bought with the intention of holding on to it for a long duration of time believing it will appreciate in value for higher return on investment (ROI) which is often referred to as HODL in cryptocurrency terms.
Actions of investment involves doing thorough research on the particular project whereas speculation ignores research with hype being the driving force for taking the plunge.
Investing in Splinterlands, would you refer to it as speculation or investment? I will appreciate hearing your views on this one.
A Bitcoin maximalist once told me buying splinterlands asset is not investment but gaming perhaps it could me speculating for him.
For a Blockchain game that currently ranks second in users as seen below it doesn't tell me Splinterlands is just a fun game with no investment side to it.
Unless you are new to Hive you need no reminder how the success of Splinterlands contributed to Hive hitting an all time high (ATH) last November. The argument can be made past success is gone and in the past but as a Spliterlands player I don't see it that way based on the continuous development and economy around the game.
Back onto investment and speculation, at one time of the other we are bound to speculate on asset(s) hoping for higher returns which isn't necessarily a wrong thing provided one is speculating with funds that can be lost without incurring worse financial situation.
Understanding what we are doing speculating or investing might be doing us some good in the quest for financial freedom.
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