OK, maybe I should clarify... When I say 'FUD is your friend', I mean facts - any information, whether good or bad for your investments. It happens too often when I'm browsing YouTube, Steemit, Reddit, /biz/, or any other platform, that I see people who have a critical or contrarian view get dismissed for 'spreading FUD' (fear, uncertainty, doubt). As an investor, you should be wary of any misinformation, fake news, or attempts to manipulate the market, but you should not dismiss people who don't agree with your positions.
Saying someone is spreading FUD when they provide information counter to your position is the equivalent of plugging your ears and saying 'LA-LA-LA! I CAN'T HEAR YOU!' It's very lazy as it does not force critical thinking to provide counter-arguments. Instead, you should process the information and think to yourself how this impacts your investment. Re-evaluate your investment decision if necessary. As a result, you will become more confident about your decision to invest in a cryptocurrency.
It's easy to focus on a crypto's strengths. Instead try to focus on the weaknesses. Ask yourself what could absolutely destroy your favorites cryptocurrencies. Then, ask yourself if these weaknesses can be overcome by the developers / community and if the risk is worth your investment. This is a very important exercise since it will shield you from becoming fearful, uncertain and doubtful when the market goes down like it does today. If you are aware of the project's risks and weaknesses, you will be able to shake off any crashes and take the opportunity to increase your stake at a discount.
When doing research on Request Network I stumbled on this gem: Vitalik Buterin completely trashing Ethereum, or at least that's what it might look like on first sight. In all actuality, he's aware of the weaknesses / challenges of Ethereum and thus better equipped to face them. This is in stark contrast to some crypto founders (cough, Justin Sun, cough, cough, TRON).
How much did your portfolio drop in value today?
Did you feel fearful, uncertain or doubtful?
Let me know in the comments below!
I'm a new writer on Steemit trying my best to deliver high-quality content.
Please consider upvoting or resteeming my posts!
You can also support me by following me or donating:
BTC: 1NQLE91WbHHMDCm2rbyg6yadhz423YsMnM
ETH: 0x050451c41c91a72683c99472f0566b55a4c6627c
LTC: LiVkom4hFT1y3iJrsgaQx1JfiUuXscPhg8
Thanks!
-longcat