IT is bugging me a lot the past few days and I can ignore it anymore. Crypto prices are in a free fall and no end is in sight. The endless draw down is teaching me a good lesson in life. There is no easy way to become rich. At least no in crypto.
Long and gone are the days where one just needs to hold coins and in a few days to weeks get 2x to 10x gains. Now it is survival of the fittest. What I think should be worth something does not mean it really is worth anything. Reality is crypto is filled with scams and greedy individuals who are trying to steal our hard earn money.
This turns to what I read today that likely pull the crypto prices down. The CEO of crypto exchanges OKEx and OK coins is arrested for committing fraud. He is accused of selling a scam coin.
To think of someone who has a importantly role in the cryptoshpere would try to take advantage of others is not unheard of but because it is happening in the crypto world all who believe and invest in crypto is suffering financial losses.
The easy way to make a quick buck will end up hurting me and others. So stop with the scams and pull up our sleeves and start working on getting crypto projects to solving problems.
The timely manner of another story that awed me was CEO of Alibaba Jack Ma came out to say he will soon retire.
The man never graduated college but devoted his life to his dreams and he made it into reality. Or at least the potential of becoming real. Anyways he walking away will do him well. With a successor in place and plans of after retirement one has not but to admire this man. He worked to where he is today and he is passing the tour he before he lays down. Pretty amazing story of a life.
What I am trying to get at is my first impression of crypto was the thought of retiring rich from owning crypto. The reality is I have better chances of retiring rich if o work harder. Investing in the right products will help in achieving financial freedom but to put my blood and sweat into making something better will likely produce more.
I can sit here and watch prices continue to fall or I can go do something like getting a second job to make more. The choice is really simple. Jack Ma went and chased his dreams. I sit here letting people like OKEx's Star Xu take away my hard earn money. No wonder I am poor.
Thanks for reading my ranting. Will do an updated fantasy football post tomorrow.
Date of post: 9/12/2018