After 7 active years in crypto, watching charts, following the markets, diving deep into different cryptocurrencies, mining with GPUs different coins, staking, and creating tokens, I still have doubts and temptations to jump into new projects... I suppose that the only difference between now and then, is that, very often, I resist those temptations and I don't do it... 😃
Jumping from tree to tree, or flying from one flower to another is probably one of the main reasons why people "fail in crypto"... I suppose that most traders fail because they buy the top and sell the bottom, but in this case, I'm talking more about "investors" that are buying and HODLing tokens for some time... And I will bold those two words, SOME TIME...
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With investing and HODLing the pattern is similar to trading, but except for "betting" if the price will go up and down, we "bet" if one token will outperform the other... So, when your fiat money runs out, you exchange from one token to another and try to "earn more" with your decision... But, the main "actors" are the same, FOMO and FUD... I saw it in myself, and I saw it in others many, many times...
You buy a token that has potential, you HODL it, it goes up, and you are happy, counting profits, but not selling... 🙂 Then, another token pops out, doing some crazy numbers, going up like crazy, and yours slowed down a bit... You think that the new one will continue to run like crazy, so you swap the old token for the new one... Obviously, the new one after a huge run stops, goes down, and your "ex-token" begins to run again...
That's probably the most common pattern of how to lose money, instead of gaining... Chasing the new shiny tokens, because they are new, and because some YT influencers said that new tokens in the first cycle will do better than the old ones... The story about cycles is true, but not for ALL tokens, especially when we have thousands and thousands of them...
I'm not immune to this either... By not doing that and ignoring some "new tokens", I missed gains of BNB a few years ago, and probably TON gains recently, as I had doubts about buying both when they were much lower than they are now... In the end, I didn't buy them, so I missed potential profits...
On the other side, ignoring some shiny tokens saved me a lot of money as a lot of them performed much worse than BTC, for example...
Another important thing is the AMOUNT you invest in new shiny things... That's something that I changed during these years... Before, I would swap over 50% of my "old coins" (sometimes BTC), into some shiny token... Now, I'm much more cautious, doing numbers under 3-5% of my long-term portfolio...
In conclusion, do not chase new shiny things, and if you really, really want to invest in some new token, don't invest all your savings and don't take out from your long-term portfolio... Not financial advice! 🙂
Back to the pool numbers! In the last report, I mentioned that the WORKERBEE token price went up, and maybe that was one of the reasons why one person undelegated tokens from the pool... No judging... 🙂 Also, we had some additional delegations from other pool participants... Thanks, guys!!!
This week we mined 110 BEE tokens in total!!!
This POOL doesn't have fees and you get up to 20% MORE by delegating to it!
What about the bonus tokens?
We could apply the story from the beginning of this post to our today's bonus tokens... As the SPS tokens went down in value, I bet that many HODLers decided (or will decide) to sell the tokens out of fear that the token price would go to zero... While that is always one of the possibilities, there is another possibility that the token has hit the bottom (or it is close to it), and that price will recover... I'm not a psychic and can't tell you which one of the two will happen, so it's up to you to make a decision...
But, for example, going out from SPS to buy some token that went a lot recently, would be exactly the "trap" that I described at the beginning of this post... Going out from a risky token to get into another risky token is a double risk... But, going out from risky tokens into more stable tokens, could be a different story...
There will be distributed 320 SPS tokens to the delegators of the pool as a bonus reward today!
As always, in the end, let's give the exact numbers for this week... 110 BEE tokens and 320 SPS tokens will be distributed as a bonus... The APR (without the bonus) was 5.977%, and when we added the bonus it went up to 7.149%!
I have calculated the ROI approximately with medium prices for all tokens at the moment of creating this post... So, those numbers are valid if you bought WB and sold BEE tokens at the middle HiveEngine price...
Do you want to sponsor the PH-Pool with your tokens, receive a short SPONSORED segment in this post, and raise awareness about your front-end or dApp? Please let me know in the comment section, or contact me through Discord or Twitter and we will find the best solution for both parties...
If you want to join the WorkerBee PH-Pool, the only thing that you have to do is to STAKE tokens to YOUR account and DELEGATE your staked WORKERBEE tokens to THIS account (@ph1102)! Every week you will get your portion of mined BEE tokens and BONUS rewards!
.:. DO NOT STAKE TOKENS TO MY ACCOUNT!!! Just DELEGATE! .:.
All payments will be made after publishing this post...
If you have any questions, please leave them in the comment section!
You can find more about this pool in the initial post here @ph1102/workerbee-p-h-ool-let-s-help-each-other
Thank you for your time,
--ph--
None of this is financial advice!!!
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