Tips on how to handle this period as fear, uncertainty and doubt keep spreading over the place.

loonyfool (51)in #bitcoin • 7 years ago

A lot of things have happened recently, and it is in those types of situations that we manage to see who decides to leave, who panics and doesn't know how to react and who sticks to his/her initial ideas without modifying any strategy. Everything has been said about that bloodbath, Tether hypothesis, big Ponzi scheme, the scam being linked with the banks, the institutions, Wall Street, some whales... But what we have to take into account is the fact we don't have to play it foolishly (I may be called loonyfool but sometimes I do think about not acting like that :D).

First of all, let's have a look at this video where a millionaire tries explaining the BTC crash, he may be biased so don't take any word for something true, but still this is interesting to see another point of view and explanation:

Let's focus on the main hilarious things I've witnessed recently. First there have been people saying "but you know, if this happens, and this happens, and if this happens, it could make me a millionaire !". I'm sick of saying this: with a lot of "if", we can literally rebuild the world. What bring me to TIP NUMBER 1: Stop speculating, too many "if" are a bad sign, only trust something worth it and don't follow it every single minute, it's better for your mental health and also for your efficiency, you don't wanna waste your time destroying your soul for fuck sake.

TIP NUMBER 2: Don't overreact. This is precisely what made a lot of people buy Bitcoin when it was getting around 20 000$ (hey you thought it was gonna rise forever ?) because they somehow got influenced by the media and their own emotions (stop getting emotional, it's a weakness in this market). We call that FOMO (fear of missing out). It's somehow close to FUD (fear, uncertainty and doubt), the opposite reaction to sell at a low when everything crashes. Don't react the other way either; your coins are safe, unless the whole market crashes to 0 dollars of market cap. And if you believe that kind of thing can happen, then you should not have invested at all in the 1st place. Which will bring us to TIP NUMBER 3.

I can illustrate this tip with a well-known youtuber who recently left everything there: CryptoNick, someone who was mining a lot and explaining to us how "interesting" and "rewarding" it was to do that (apparently he was earning 1 million per year if I remember); well he just disappeared ! And I don't think he's gonna return. Not mentioning what happened with Bitconnect a bit earlier this year. But again, most people insulting Bitconnect are those who took way too much risks and had too much to lose. 2018 is gonna be crazy, we've already seen a lot of cowards, from Bitconnect enthusiasts like Carlos and people like CryptoNick who just left everything they had linked with this world. Funny how one crash can alter your behavior and make you leave everything you were supposed to trust.

https://www.inverse.com/article/40894-bitconnect-carlos-meme-cryptocurrency

TIP NUMBER 3: Maybe it's too late for some people, but I will still put that piece of advice. Before getting into that market, you should ask yourself one simple question: how much are you ready to lose ? Be sure to answer this question honestly as we should never lie to ourselves. When you've done that, you have the amount you're willing to put into that market. Trust me, you feel relieved once you know whatever happens with this amount, you won't care, it's just there for the gambling game. Ideally it should only be a tiny part of your savings as we all know spending for the sake of trying to recover from a loss is the last thing anyone should want to do. That's why you should just stick with that amount. Not more, not less. You can also define a fixed amount you're not gonna touch at all and keep on paper wallets to grow up with months and years (in "big" coins like ETH and BTC) and a "gambling" amount you keep online for trading with the best coins to make it grow. Your earning should be built little by little, by accumulating good gambles and capitalizing on them. Not by making silly big moves for one thing you do not trust enough and you just heard about randomly. And trust me, that way you won't lose much. And you will keep the thing you should care the most: your self-esteem. Here I talked about spending your own money, but when you think about it, the more you earn crypto, the best it is. Because you know you haven't cut off some part of your savings. It's even more rewarding and interesting. Which brings us to TIP NUMBER 4.

TIP NUMBER 4: Always try to earn crypto instead of putting money into it. There are many types of faucets which can make you earn a bit ETH, BTC or LTC: bitfun, bonusbitcoin, or those ones, have a try and see if it's worth it, there are always new faucets being created on the Internet:
http://moonliteco.in

http://moonbit.co.in

http://moondoge.co.in

http://moondash.co.in

Then you have the most obvious crypto-earning method: Steemit. There are a lot of services to manage boosting your rewards, one of them is minnowbooster, there is also echowhale which I'm satisfied with right now. It gives you upvote based on SBD you send to them. Of course you have to earn a bit SBD from content posting first, but at a point you gather enough SBD to manage sending them more and more interesting amounts so that your upvote is gonna be higher and higher. Have a try at steemfollower.com and steemengine.net too, interesting services to get upvotes and followers, and SteemPower as well.

TIP NUMBER 5: Manage to be detached from the market fluctuations, have a clear plan and do it every single day to earn crypto. Whatever happens, stick with it, you'll see it will be beneficial for you. Especially when the market crashes. What I would recommend during those crashes like the one we're witnessing right now is to trade more with the coins that have more room to grow, like EOS or IOTA, Electroneum, or Tron right now, I managed to get some at a ridiculous price. Then I'm waiting for them to burst in order to trade them with other interesting things or just put my earning on my paper wallets which have moer reliable and "stable" coins like ETH and BTC. And if you really have savings and money to spend, you can buy a bit, after all this is a discount period. From my experience so far it is possible to create a virtuous circle of earning rewards on Steemit, you just keep reinvesting your rewards into those services, your reputation grows with more upvotes, which gets you even more followers and upvotes, and so on...So as I said: try to earn the most crypto you can, because that's the best way to be inside that very volatile market. You will feel more relaxed to know your cryptos come from your work rather than your own fiat money from your bank. And your decisions will be wiser and less "panic-driven".

Well this was my own view, there is an interesting video about the top 5 tips in this kind of period which can complete my post:

That's it ! Thanks for your attention ! I will be back soon with more of the same kind ! Stay crazy and keep making fun of life instead of letting it make fun of you :D

RULE NUMBER 1 Always expect the best, but be prepared for the worst !
RULE NUMBER 2 Never regret anything you made (or didn't make), always look forward to the new opportunities !
RULE NUMBER 3 Knowledge is power !
RULE NUMBER 4 Trust no one !
RULE NUMBER 5 The safer the better !
RULE NUMBER 6 Don't do anything that would contradict one of the aforementioned rules !
BONUS RULE (OBVIOUS) : THE BLOCKCHAIN IS HERE TO STAY ! STEEMIT WILL OVERRUN DICTATORSHIPS LIKE FACEBOOK ! FUCK THE BANKERS, THE POLITICIANS AND THE FAKE "OIL-WORLD" COMPANY !

MY CRYPTO-RELATED POSTS SO FAR : HAVE A LOOK IF YOU ENJOYED WHAT YOU SAW !

MY SOUNDCLOUD PAGE FOR EDM LOVERS AND MUSIC ENTHUSIASTS

https://soundcloud.com/user-845067406/hydrogen (with the most successful creation I believe, but you can also take a look at the others)

Screenshot from 2018-01-14 09-28-14.png

THE TAGS I USUALLY POST IN

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#crypto #fud #market #crash

7 years ago in #bitcoin by loonyfool (51)

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resteemator (3) 7 years ago

@resteemator is a new bot casting votes for its followers. Follow @resteemator and vote this comment to increase your chance to be voted in the future!

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2 votes

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loonyfool (51) 7 years ago

ok thanks resteemator ! see you soon

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kumar2013 (6) 7 years ago

It's funny image hahaha

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2 votes

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loonyfool (51) 7 years ago

yes thanks indeed :D

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jgvinstl (58) 7 years ago

Hey there @Loonyfool!

Good writing here. It's good to keep a wise mind when dealing with cryptos.

Keep up the awesome articles!

JGV

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1 vote

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loonyfool (51) 7 years ago

Thanks a lot, I always do my best to provide interesting content based on my experience with it.

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cryptoclick (59) 7 years ago (edited)

Hi there, good article!!

As to the free faucets, my favorite one, most dependable, longest paying and surely honest is FreeBitco. A friend made a short video about it and I made a splash with it for TE advertising, take a look if you like http://www.promoteadspaypro.com/extra/freebitco.php?ref=merry
This is a sample of that PHP coding I mentioned to you about ;-)

But... even with the best faucets, it will take one forever to collect enough coins to start investing. Sorry, in my opinion, faucets are not worth the effort unless... you have plenty of referrals there.

I was not clicking on BTC clicking sites, but I used to rotate alike splash like for Freebitco for BitcoinClicks, and I got 240 plus refs from it. It was a time when I was earning there with those referrals quite nicely. But it ended. Be careful with that site, there are some shady things going on... I found in my withdraw history 2 withdraws made not to my wallet, I contacted the admin asking about it, they haven't even replied back. Then one day all my refs from there were gone... just disappeared. I was still able to log in but in my balance was zero and my ref count was zero too. I even did not bother to contact them and ask, I just decided to stop promoting such sites... Very, very seldom online, we get something for nothing...
I've heard good things though about the moon faucets and I still occasionally go and play at Freebitco, but again, to collect enough from those for investments would take loooong.

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1 vote

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loonyfool (51) 7 years ago

Thanks for your advice, I hopefully didn't waste much time on them, it was just an alternative way to earn crypto I introduced here for everyone to get their own experience with it, but you're not the first one telling this to me about faucets, so I guess I'm not gonna lose time there. Pity we earn so little and there are so many frauds. Anyway, let's keep on steeming I'm sure that's the best way to earn crypto so far then ! (with working for an ICO)

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cryptoclick (59) 7 years ago

Unfortunately, most of the online frauds and hacking are associated with crypto sites.
Let's keep on Steeming :-)

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1 vote

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loonyfool (51) 7 years ago

Yes it's fruitful, I trust it more than ever now.

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STEEM 0.21

TRX 0.26

JST 0.040

BTC 101666.04

ETH 3693.34

USDT 1.00

SBD 3.13

Tips on how to handle this period as fear, uncertainty and doubt keep spreading over the place.

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