risk reward in real life
It's very difficult to predict..but right now, the way things are going, the way people flee Facebook, the way decentralized applications is on the rise, the momentum we're getting, the fact that steemit has no real competitors, the fact that Steem is the fastest and possibly best blockchain out there..it looks to be pretty undervalued. But one should be conservative. I think the latest raise in price up towards 10 dollars gave us a good indication.
Great post man. Resteeming this one for sure.
I am very similar to you. An Outsider who has managed to establish a "Free Carry" on cryptos so that the downside for me is practically zero. Life is ALL about the Risk/Reward ratios. We are all gambling on things every day of the week, but the blue pillers just don't see it.
Keep chipping away though. Your message is ON SONG!
Very true. Thanks man! Appreciate it!
Even though crypto returns have been incredibly high this past few years, the market is still small and the technology is still sort of a niche, I mean, almost no one is still using blobkchain in large scale, so the room for growth is incredibly huge!
About the level of independence, being level 1 and reaching level is just a matter of good work and good planning, now, reaching the third level, the rich level is much more difficult because you need to find extremely good opportunities that aren't common.
As you say, crypto can make any level 2 person reach level 3, a lot of level 2 people are millionaires because they bought bicoin early on.
I really hope crypto keeps evolving and growing, because it will not only help us all here in this community, but it will also be good for the entire world, riches apart...
Having said this, I think your decision of getting involved in crypto is wise. I don't if you dare to make a prediction about the price of steem in January the first 2019 haha?
I have seen some crazy predictions for the next few years, even reaching a price of 100$ per steem that would be absolutely crazy.
Check the answer I got from @andrarchy here comparing ETH with Steem and explaining why steem might be better .
Cheers mate!
Agree
Since you mention the lack of competitors, I wonder what are your thoughts on the EOS competitor @dan is apparently developing?
And yea, right now steemit is not easy on new members, I don't it never was easy, but it probably is still early in the game, so if people are smart, the sooner they get here the better.
It depends..I think he/they/EOS will probably look at steemit and try to correct some of the things that they view as flawed. I'm not going to get into that. But since Dan created Steemit and Steem he knows how to do it. So it could be a platform that can be up and running surprisingly fast IMO. Steemit does however have first mover advantage and a pretty huge following..but, competition is always good. I think its important to follow that project closely..
Very well said. I have been trying to get a few people involved in crypto, for quite some time now. Friends, family, even after seeing there's money to made and it hasn't "just disappeared over night"-still most people are reluctant. They give me the same, "oh but it sounds so risky". Well I'm happy and I'm making money, and at the end of the day, I'll still be able to sleep at night, with or without them involved.
Well, if they aren't on the right "level" there is no point trying to talk them into it. You can never convince anyone to do anything unless they are on some kind of path or track towards that anyway. It's very rare that you can make people change their mind or even realize things.
Hahaha I totally agree with what you said here. I currently have 99% of my money in cryptocurrencies, the money in my country is useless, inflation evaporates the value. I think it was type 1, but I became type 2, there was a time when I worked all day in the office as a slave, and could not pay the bills, sometimes I had problems even to pay for public transport, damn , I had to walk to the bus station where the private transport of the company went, that was a little over 5 kilometers, but since I started with the cryptocurrencies, I have freedom, I have my own schedule, there are days that worked much more that when I was in the company, but most of the time I'm simply free, especially because I spend the money on the things I really need, I do not buy garbage. By the way, I would also like to drive a porsche, it has been my dream car, although it does not necessarily need to be the 1990 model.
99%!? Wow, you need to diversify, its so risk to have everything in such a volatile market. Crypto is a great investment, but 99% of you money in anything is not a great idea unless you’re hosting a node and have a guaranteed income every month.
I live in Venezuela, it is much more profitable, beneficial, but above all, safe. Cryptos is much more stable than the local currency, cause inflation exceeds 3000%
I disagree. Why is cryptos volatile? Sure..certain cryptos are volatile..just like certain penny stocks are volatile. But IMO the risk reward is much greater in the crypto currency market than in the traditional stock market. Even I am probably..lets see actually, I have 31% of all my net worth in cryptos. And I live in a Scandinavia. It makes perfectly sense or Vieira to have 100% in cryptos as he lives in a shithole.
It seems a bit risky to invest in the traditional stockmarket..so I think 99% in cryptos is risk averse :D
You've got 99 problems, but cryptos aint one!
Not sure what category would I fit in, but working to feed the family and just survive a day to day struggle was never my thing. I'm rather a modest person not needing much to enjoy living as I grow up like that and I do not hesitate to commit to risky decisions. The reason why is simple, I know how much I do spend and need for living, not much, the remaining usually gets invested in one thing or another. Also half wins are not really my thing. A better car or slightly bigger house? I always wanted it big. I guess the most important thing is to always have a dream and a potential to progress towards it. Like someone smart once said, "It's not about the destination; it's about the journey."
Agreed. I don't want newer Tesla or a S-class. If I want something I want a ferrari, a lambo, a porsche and a muscle car. And I want a huge garage to have them in. Or I could just bike around..I don't care really.
I used to wonder how financial acrobats could go from being broke, to have billions and then to broke again..but for some reason nothing seemed to change for them. They drove around in their bentley no matter what. The owed millions, but they still lived in the big house. A few years later, they have millions again..its because its in their nature. They cant help it. They are not in it for the money..but the journey indeed.
a was number 1 for many years and had a good amount of money in the bank,
a became more and more annoyed
over interest and inflation. and like u are saying if u are not rich but have some money u are more or less a slave to the bank.
but now am nr 2 and have moved most of my money to crypto and more happy It's better to be my own boss or be the bank's slave.
Yeah, it's about not having to have a 100% job all the time, for the rest of your life. Being more flexible, having more time to think and figure things out. Most people live in a vacuum where they are just exposed to get up, get kids to kindergarden, work with the same thing every day, get kids, make dinner, watch tv, sleep.
I am a mix of type 1 and type 2. I always worked the 9 to 5 routine but at the end of the month I had always a small surplus that I used to buy some stocks or a little silver. Made it for years and then decided that I needed some real money instead of the fiat money that I had. I had my car, apartment and my daughters were living their lifes. So I started to stack silver and gold in a greater quantity, just not to became poor. Now you come with the idea that cryptocurrencies are not dangerous and I had my bases shaken. Steemit is being my introduction to this new world. I will follow you and decide what to do. Thanks for the information.
Read up on cryptos. Learn. It is trying tochange everything. Cryptos fight for free market, free enterprise, freedom of speech and quantum leaps tech wise. The old system will fight it..but it cannot win without exposing what it is..a fascist and sick system based on theft. Turbulent times ahead. Stay vigilant. Stay informed.v
True words.
Enjoyed reading, been a few days out of town so I missed a few of your posts. I personally started buying rental real estate right out of college and I guess I would be what you call a level3, I have a near 8 figure net worth, 9 properties mostly Office parks, and zero debt...actually I just paid off my last mortgage Feb of last year. I recently entered crypto last year and just from mining, I was making more every month off a small farm I paid $35k for compared to what two of my 4plexes worth about $900k are bringing in, it’s absolutely crazy. I’ve diversified some of my portfolio into crypto investments, but the mining has been amazing, it’s like you have a machine that prints money. Since I was young, my goal has always been to try to grow my passive income so that I always have revenue streams to fall back on. Also, I have always tried to eliminate debt as soon as possible. You can be a wealthy person working 12hrs a day as a CEO of a big company, but to me, money is freedom, freedom to do what ever I want whenever I want. I have now grown my passive income to the point where I earn more than enough just on passive income to pursue whatever makes me excited and for past year that has definitely been crypto. For all the people stuck in 9-5 jobs, they need to make that investment in their future, maybe that means one less meal outside, one less movie, waiting longer for a new pair of stylish shoes, put that money into investing in your future, and crypto is a great way to do that.
Definitely some level 3 shit right there :)
Thanks for the comment!
Nice one and very true!
Risk aversion is too strong in the modern society. We are supposed to let the government take care of us, and if something in our life goes wrong then blame the government or somebody else. But life itself is risky. And succeeding in life always involves some risk taking.
Being a trader I have found that being profitable in the markets is not about perfect entries and exits, it's about money and risk management.
True true!
Money management and risk/reward is everything. Almost. Thanks for commenting man!
Very Relatble article, as someone who goes by risk/reward, I've never seen anything in my life compared to crypto. Most people think birary instead of probebalistic which is why the 95% (the sheeple) see crypto as high risk.
Thanks to @buggedout for the resteem!
Awesome. ! Agree