My First Real Crypto Buy In

fingersik (66)in #cryptocurrency • 7 years ago

The beginning

I’m interested in crypto for like 6 months (basically since I registered to Steemit). I was studying the “ecosystem” every single day, believing that it will make my living one day. I though didn’t have any money whatsoever to invest into crypto (Steem was 0,30, BTC was 2,5) and was pretty sad for it. I tried hard to gain at least something through Steemit, but it was so little that I decided to keep it as SP for I wanted to stay and work here anyway. I only transferred around 2k CZK (100 Steem at that time) to play with on a stock. I actually managed to increase the value to like 3-4k, but that was accomplish mainly by buying BTC for Steem for a very good prize.

Sourrce
At the same time I wanted to borrow some money from the family so I could invest into crypto. I only wanted to invest around 50k (over 2k dollars). That is enough money to make some money and at the same time if everything went horribly wrong I would be able to work and get that amount of money back. Since it would be borrow from a family, there wouldn’t be any time limit till when I would need to give it back and I would only need to give back what I borrowed. My father ran into financial crisis because of his shenanigans on the classic stock, so that possibility was cut off too. Only till now.

The buy in

Few days ago I was talking about crypto and my former plan with my aunt, and she surprisingly volunteered to give that money to me so I can execute my plan. I wouldn’t say no. At the same time the Chinese FUD emerged and BTC was at its lowest in quite a while. The BTC fell from 5k to 4k and I bought in the first 4%. I started buying some of the alts that I liked and didn’t really care about the further drop. The further drop didn’t stop too though and we soon reached 3,4k. I decided to buy in next 6% (thus fulfilling the weekly limit). Before I had time to care about it BTC was at 3k and I started buying the alt coins again, for even cheaper prize now.
After the weekend I’ll be back home with my weekly limit refreshed and it’s highly likely I will buy again another portion. My estimation is that the prize will probably fall even more, but I dare not say what the real low is. I just hope that the prizes will stay low for few weeks, so I managed buy in all the funds I reserved for it. I know that I’m not a skilled trader (as most of the crypto geeks aren’t). But I know what my plan is…

HODL

It is the ideals that attract me to crypto. Financial (and maybe more in time?) freedom, a more effective system, etc. we all know this for we all here are crypto geeks. I’m not that panicking guy anyway, I won’t panic sell when I see that things are not going my way in short term. Actually all the FUDs are just another buy time, and now I have something to buy myself in actually, so for the first time in my little crypto history this is a true statement even for me. Most of us believe that long-termish crypto will grow. -30% drop on everything is a very cheap prize then to buy for a HODL purposes. ¨

Source

Concentrated mental attack on crypto

China with their supposedly 5th crypto ban, CEO of the crypto’s opposition – US central bank (or who the fuck that Dimon is, I don’t honestly care). As I said it has not been long since I joined the crypto movement, but this is by far the most concentrated FUD attack I have witnessed. All the people that saw crypto only as quick free money are panic selling, some of the older buyers are trying to sell now because they expect further drop and want to keep their “hard earned money”, the Chinese are panic selling because they live in a fucked up country and have no clue what the comrades will come up with the next day. Who knows what’s going on in another’s comrades’ nation – the soviet nation? I’ve heard rumours about raids against btc investors. Huge effort against crypto is going on right now. The conspiracy theory I believe in is that the leaders (bitches they may be, care for people they don’t, etc… but they are NOT stupid) are taking advantage of the FUD too and are buying in as we speak. Blockchain is different level compared to the actual system we are living in right now. They may fear it, they may try to regulate it and partially succeed, but no one will ever take from it what makes it so strong. THE EFFICIENCY.