Steem shiller? Oh, Hell no...
Okay, okay, okay - Slow the F*** down....
I know that I am pretty Steem oriented and have some very high hopes for this platform. I know that I have even bought a few hundred euros of STEEM even though things are tight but, I am not crazy.
What is the first rule of investing???
DO NOT INVEST WHAT YOU ARE UNWILLING TO LOSE!
Never, ever!
There is a lot of opportunity here for sure but there are also many risks and threats to investing into the platform and if you are unwilling to wear the cost of the loss, DO NOT BUY IN.
The beauty of this platform is that with a lot of work, it is possible to earn a decent amount here but, it does take a lot of work and it does take a lot of time, effort, disappointment and it is still not guaranteed. Nothing in this life is guaranteed except death and taxes and even them, who knows.
I got this message from a person I have helped out a few times before, asking advice:
My answer is this:
Seriously. Do not invest anything into anywhere unless you are willing to lose 100 percent of it. This is not Bitconnect, this is not a scam but, there are risks. Steemit is essentially still in the startup phase in an industry that is volatile, will face many legal challenges and will of course have many players looking to compete in the cryptosphere. It is exciting and all the uncertainty makes the upside ceiling invisible for the most part but, it is highly risky especially if you are going to sell your family's land to buy into it.
I am not going to give you financial advice but, you better be damn well sure that you have an understanding of the risks of investing into anything at all. Anything. The responsibility to invest is always on the investor and even though every precaution is checked, double checked and it looks like a sure thing, things can still go wrong. There is no such thing as certainty until it has already happened, only then we can know.
I can't believe that I have to write this on a platform where there is so much information on investing itself but I am damn well no shill, no matter my optimism, and I am damn well not going to claim responsibility if this collapses around us and you lose, for it is not mine to claim. We are all responsible for ourselves and our successes and losses. You take big risks you may win big, but you may also wind up losing everything.
My risk here is mostly massive amounts of time and effort that could go into other activities like being with my family or, building my real world business more. It is a risk but if I lose, I lose what I have already paid the price of and it doesn't stop me investing myself into something else again. For me, my mind and experience are my capital here and on those, I am all in, every time. But, I am not going to put my family at anymore risk than they need to be in.
I am writing this in simple language so that people who may struggle will get the point but I will say it again:
DO NOT INVEST WHAT YOU ARE UNWILLING TO LOSE!
Taraz
[ a Steemit original ]
"Under every bridge of Truth, there WILL be Trolls!"t. castleberry
I respect you a great deal @tarazkp! I feel like that chode is just projecting on you.
I was told about the platform from a YT sub of mine. When I first started Steemit... I had no idea what was going on. I spent more time in chat than on Steemit. I ran into you early in the chat and found you to be a cool guy so I checked out your blog.
I just watched and read. I started out looking for what this place was all about before I created anything or engaged too much. Your blog was one that I always kept coming back to for insight and inspiration. I feel like I got to know you more from your blogs than chat.
Having said all that... I am not ass kissing and don't upvote this comment, I just wanted you to know. Based on not investing anything you aren't willing to lose, risk and responsibility etc. I started here with ZERO. I invested nothing. I don't have much money and couldn't supplement my account in any way.
I have tried to grow mostly by doing my best to put out quality content and to always strive to do and be better! I have a few niches and have gone a few particular routes. The more I have learned and diversified my approaches... the more I have grown.
The beauty of this platform is that you reap what you sow. It takes a while to get your voice and find your place here for sure! But as you said in that quote if you are willing to roll up your sleeves, pay attention, put in some time to make an effort, there is a great potential to earn!
Since we are in such an early stage here adopting the platform and helping to build it... We truly have a chance to invest in something more than just material investment! On the other hand, I have had to learn about Crypto everything... and that has been beneficial as well. It looks like I am not doing too bad compared to ZERO.
The price as you pointed out is potential time missed doing other things. Some of those other things being very special and important. Prioritizing is the investment risk if you do participate here seriously. That is something I think we can manage. Family always comes first... but Steemit is starting to feel like a family of it's own.
& To Make a Long story LONGER
Thank you for taking the time to comment well, I have nothing to really add other than the thank you. I am a little behind on my comment replies, sorry but I am working through them. And I will upvote, if you don't mind.
I appreciate you taking the time to read it all. I had mentioned before I could write a book and I wasn't lyin' hahahaha I remembered you saying the other day you may be a bit grumpier than usual because of the treatments but I don't think that was the case here.
I hope you are feeling mo bettah! I just wanted to lift you up a bit and remind you that you are no Shill! Not that you need me to tell you. I have dealt with my fair share of shills... and your title got me pissed coming into the post.
Then I was like... man that dude reminded me of someone who Tried to scam me from Ghana guilting me over his 8 sisters and grandmother he takes care of. Don't comment back to this one as you have many to work through and catch up on... but I appreciate and respect your openness! .... and thanks for the upvote. My reverse psychology worked! ;)
Cant decide if this is funny or sad. 😂
Me either tbh. Problem is people are greedy in general but they are not educated enough on the risks. Combine that with language level issues and it is a recipe for disaster.
At times we have to take the risk of investing but mind you not to the detriment of us using all we have, that i can't advise anyone to do.
I love the reply you gave is crazy indeed.
Of course, risk is part of the system but thus person seemed to have not known it is risky and was making a decision based on 'people saying it was a good investment'
Crazy.
Yeah boss
Crazy 😁😁
You have made a good point. I always tell people don't loan what you can't give as a gift. That same principle applies here too. I am buying steem but I am buying when it is low and using to power up my sp. I am also buying small amounts.
I believe strongly in this platform but I have been bitten too many times by online businesses that I know to be careful.
We should not let the steemit fever blind us to sensible business decisions. Thank you once again
It's amazing that people still don't understand this. Even when you buy stock in a well-established company, there's no guarantee that the investment will gain, or even hold value. If you consider it "gone money" as I call it, then you'll be happy with any gains. Selling a house to invest in crypto though? That is crazy!
Greed will teach a very rough lesson. Those lessons sometimes have to be learned through trial and error but the family land? Someone needs a priority check, not investment advise, lol
It's hard to give financial advice to your friend, really. Like you said this is not bitconnect or some other scam but still it's not always guaranteed. Another thing even if the investment works out, there is still more to sacrifice for this platform, alot more, thinking one must be able to do some work after investing. There is investing your all and you are not able to maximize the platform for your investments potential, who knows?
He has got his answer, he may or maynot..and should expect anything at it's worst or best.
Thanks for this, I think this advice goes to many people here.
Technically I am unwilling to lose $10.
But I invest the amount that won't ruin me if I lose it.
Still haven't actually invested $ into Steem though, but I may soon.
my first foray into investing my own money amounted to a transfer error and I lost it. The second was a few weeks ago and I bought 75 Steem. Not much, bu it made it all a bit realer.
The way I look at it, if you only think of it in a financial sense, you seem to get a pretty good rate of return, even if you ignore the capital gain. Of course though you have to consider the potential for capital loss when investing your own fiat.
It's a shame you lost some in transfer. I'll have to keep that in mind and be very careful when I finally dip my toes in.
sure. especially with the rapid increase of ponzi schemes last year. it affected a lot of people including myself.
but then i think its right to blame it on greed and selfishness of man. we want to reap from what we haven't labored for and also poor economic policies, dor instance in my country where inflation is at an all time high coupled with low wages, individuals would look for another means to survive.
you can never be too sure my friend @tarazkp.
As safe as a bank, i have seen banks even fold up with peoples life savings in them..
Personally, the only financial advice i can give myself is "try new things, but never cast all your eggs into one basket"
And this is why I haven't put in any money. I don't want to lose anything
...but I will still probably buy some Steem once I unlock my other bank account