Change Your Way Of Thinking


From my point of view, the main problem of cryptocurrencies is the "volatility" word that is very often connected with them... Also, there are other words that very often stay in the ear of the newbies, and that's "huge gains", or earning a lot of money overnight doing nothing... You just have to buy X coin for $10, $100, and tomorrow, you will be rich and you don't have to work anything until the end of your life...

When you look at those things, you would say that "volatility" is a negative look, and gains are the positive... when actually, both are wrong... The volatility is still a thing, but, believe it or not, it is still better than it was... I mean, it will be "fixed" when we have more and more people who actually USE cryptocurrencies...

The other thing is more dangerous if you ask me... The legend that everyone who spends any money in crypto will be rich is wrong on many levels... Firstly, it could happen (and it has happened), but only to the people who were thinking smart, who had the guts to HODL the important coins... Those who had the knowledge and recognized the potential at the very early stage...

When we were in the bear market, and crypto was going in only one direction (down in fiat value) smart people were accumulating crypto... As this is a decentralized social network, you can check old posts and videos, and you will see that we were "predicting" these times that are happening at these moments... You didn't have to be a prophet to "predict" that as it has already happened before, and it is just in human nature...

I was talking with a friend who isn't in crypto, and mentioned to him, if someone discovers a time machine, I would go into the past and mine Bitcoin... :) And he said something like, yeah, it would be great to mine a couple of thousands and JUST hold 10 years and be rich

It looks so easy, but there are only a few people who did that... The rest 99% sold their BTC when the price doubled (from $1 to $2)... That is just our human nature...

But, learning from the past, and especially from the last "bull run", when we had ICOs, IPOs, and a bunch of shitcoins, we CAN LEARN... 4 years ago, you could launch a coin, and if you just create a WordPress website, the price would jump 10 times... Make it available on some scam exchange, and you can double it up... Pay more and list your token on some of the famous exchanges, and your token would get 100x... But, after a year or two, most of those coins have vanished... As they didn't have any use-case, idea, or anything valuable... They were created to make a quick buck for the owners...

Looking the same thing happening again hurts... Especially when I see people that were here 4 years ago doing the same mistakes as before... I have mentioned in the video Alien Worlds game as an example... Price bumped 10x, and people jumped to BUY tokens at that price?!? There was no fundamental news about the game, and the token is directly connected to the game... But, the news was that it will be listed on Binance... It was a great opportunity for "old players" to sell their bags and earn a nice chunk of BTC, fiat, or whatever else...

But, on the other side, you have those people who bought those tokens... What kind of "feeling" will they have in a week or two? Yes, it will be a good "school" for them, but still... There are other ways to learn less painful things... Investigate, explore, read, ask others for an opinion... and don't FOMO...

We have to change the way of thinking... Avoid FOMO mentality... There is no EASY button... We can expect different results only if we do things differently...

Check out the video for more thoughts about this...

Thank you for your valuable time,

ph

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Music in video:
Growing Up by Scott Buckley https://soundcloud.com/scottbuckley
Creative Commons — Attribution 3.0 Unported — CC BY 3.0

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