Greetings Hive! My name is Ivan, I was born in Moldova but now living in Portugal, I became a fan of crypto space in 2017 and since then have been following everything related to crypto.
My first blog experience was done on a platform called Steemit, it was a great platform back then, I used to love writing posts daily, up until Justin Sun (Founder of TRON) have bought Steemit, after that the platform lost its uniqueness and community started leaving due to the fact that it became a centralised blockchain controlled mostly by a single entity (i.e. Steemit).
Recently I found a article talking about Hive and decided to try it out, so far I like everything about it, it's user friendly, has a vast community and actually is exactly what I was looking for after I left Steemit.
I mainly focus on digging crypto gems with utility and great developers, supporting the right crypto projects is what makes crypto a better place for everyone. When I started messing with crypto deeper I got lured in scam projects and lost my capital many times, probably something everyone here experienced.
Now let's talk about greed. Greed is a bipolar thing, it can break you in two different ways.
The first method it breaks you with is when you're greedy and want more, so you lose what you already had. (Most common method)
The second method greed breaks you with is when you're in the right boat, everything is going in the right direction - all you have to do is wait for the process to finish, but somehow you randomly remember about the famous saying “If it's too good to be true, it probably is” so you just take what you can and run, leaving the rest unclaimed basically.
I'll provide a quick examples of how those methods are used by your inner greed.
1 - You invest in something, thinking you're going to get rich in short period of time, let's say you invested $100, one week passed and you're up $300, the market is not showing anymore strenght, the asset is slowly starting to decline in price, you start worrying but hope in you tells you everything is fine, it'll get back and proceed further. You wait, wait more.. And wait. Price falls like a knife, you're now at $100 threshold (the amount you invested initially) you either sell to cut the loss or wait until it gets back up. If you cut the loss you got your $100 back, if you wait more the price will fall more and you'll be in a loss. However, you should just have took the $300 after the first signs of price decline.
2 - You invest in a promising project without even realising that you're sitting on a gold mine, let's say you invested $100 again, one week passed and you're up $5K, the market is bullish, no major signs of price decline, you start getting excited and feeling euphoria and again you somehow remember the famous saying “If it's too good to be true, it probably is”. You start thinking of how many burgers you could buy with $5K at McDonald's and you're starting to think $5K is more than enough for you, it will last for lifetime. You sell the promising asset.. The next day the price drops 20%, you start thinking of how precise as a trader you are.. you just close that chart and never look at it again.
One month passed.. Now you eat burgers everyday and you're happy, you bought a new iPhone and like spending $5K with friends, but you still have $3K left, life is good.
After a long day of burger eating you open your browser history and decide to check the promising asset chart once again..
The price pumped 100x after the point where you sold, your sold bag is now worth $500K, you start crying, nothing to be done now, opportunity is lost, greed played you.
Now greed will finish you completely with its third manipulative method.
You take the remaining $3K sitting on your balance with hopes of recovering the lost chance of making $500K and invest it in some crap described in first method.
All at once. $3K invested.. Next day price pumps 2x and your bag is worth $6K, you're happy. You're not going to miss another chance to get rich in one month! You HODL! Another day passed by and you wake up seeing your bag is worth 0, dev sold. Nothing to be done, it was a quick rug, all your money is gone.
Conclusion:
Stay safe, don't invest your money in random crap, do your own research carefully before investing, don't let greed take control of your emotions.
A well invested $100 can go a long way, and even if you lost your money many times, never give up because when you give up - you're not playing the game anymore!
