Steemit Engagement Challenge S5-W3 | If Only
Introduction |
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The contest organized here is an amazing one that would walk you down memory lane, some events you don't really wanna revisit but the reality is that they came knocking at all times reminding you of the chances you have lost. You are often filled with the thoughts "would I ever get any of such again?" You know the feeling, right? Let me share my side of the story with you.
Crypto Investment |
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Shitcoins or maybe penny cryptocurrencies as shitty as they sound but they are capable to make you a fortune "if only", there's a condition. You should listen to my side of the story about shitcoins. Shitcoins are referred to as cryptocurrency assets that have no special importance attached to them at the moment or have very low value as compared to other well-rooted crypto assets.
You can consider shitcoins as assets with multiple zero decimals. The advent of blockchains with smart contracts feature makes it extremely easy for anyone to build tokens without necessarily having a basic knowledge of coding, everyone can be a creator now. And you know what? This also birthed a lot of tokens into the crypto ecosystem, many with no solid intention of what purpose they would serve.
Shitcoins have seasons, yeah! We experienced one last year, do you witness that? I do witness it but the story would have been sweeter "if only", lol. My story today would be about one of those tokens. The token in question was not a shitcoin because it lacks a well-defined use case but because its price was extremely low at that period with many zeros, it's considered a shitcoin.
I spent a reasonable amount of time reading the project's whitepaper, I mean it was great, a token equipped with an automated liquidity acquisition and static rewards for holders as generated from 10% percentage charges from all deposits and withdrawals (5% to liquidity pool and 5% to token holders), you watch your asset grow every minute, enough!
I invested some money into the token's market due to the things that convinced me about the asset, I considered the fund something small but I was expecting something huge from it. Something huge does happen that time, "if only" I gave a chance to hold the opportunity. My investment comes with multiples of profits more than 50x but I still don't care about it, I was convinced about something greater, lol.
Bear to Bull | Source: Wikimedia
Well, I guess I was not impressed by ordinary things at that point any longer, only something extraordinary can move me as such I was expecting the extraordinary to happen, but unfortunately, it didn't! The 50x the asset did earlier sunk while I was waiting and I couldn't take any profit when the extreme volatility took over the shitcoin market.
It was my first time of being involved in the shitcoin market, if only I had not let my trust and belief in extraordinary things get over me, a story like this would not come into play. Not even my investment was taken from its market, quite ridiculous! If only I know that the token wouldn't make that breakout at that time, I would take a lot of profits but here we are now seeing the asset in my wallet worth very little, not even close to what I invested.
Downtrend Master's Reign | Source: Wikimedia
Funnily, I learned a lot of lessons from that which was put into practice in other investments of the same category but the results weren't enough to get me over the bull run made by the token earlier.
Advice For You |
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Sometimes, we get too overconfident about something as such we allowed ourselves to be totally immersed in the belief we had defined, lol. It actually profits to create more than one picture, regardless of how solid your fundamental or technical analysis was. See, it would help a lot.
And when it's about buying and selling assets as a form of investment on exchanges, learn to take profit, the remaining asset after you have taken profits can still do the extraordinary thing you imagined earlier.
Conclusion |
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In conclusion, at a point in life when we look back, we feel "if only", this could be a result of missed opportunities, failed investments, and so on. It's all good, they are already in the past and the best we can do is to make the present count to avoid similar regrets in the future. Thanks for reading my side of the story today. It's my pleasure to invite @pelon53, @ngoenyi, and @xkool24 to participate in this.
Sometimes things get complicated. If only usually comes at last but what if the reverse happened? Well, I have learned not to dwell much on that if only because you can not always get it right. That is humans for you. Though you made a perfect analysis and thoroughly read the white paper which built your confidence in that shitcoin but it still went south as it were. Well, I can only say "take heart", better days are ahead when you will smile if only you will make a perfect analysis and it goes your direction.
Your entry is so detailed and your story is touching. Thanks for the invite. I will see what I can do to come up with my own story if only I can relax my mind and get the inspection . @fredquantum boss, success in your entry
Yes, it's actually not good to dwell on the past because it's long gone. Sometimes, the event flashes back the memory and we cannot but think about it.
Thanks for your words on this. I'm glad you honored my invitation. It's a pleasure having you around, ma'am @ngoenyi. Do have a great night over there.
TEAM MILLIONAIRE
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Shitcoin is the fastest way to get rich in the crypto space if you're lucky, but it's also the fastest way to run losses. I experienced a similar thing late last year.
Indeed, experience is the best teacher, and it's your experience that you're now putting into practice and using to advise people just as you have advised us here. You wrote well about the topic "if only." Best of luck to you, sir.
Yeah, they can be utilized as a get rich quicker investment, and if you are lucky. Boom, You made it! I heard of a few persons around who had their few hundred USD transformed into multiple thousands through shitcoin investment.
One just has to be very careful while investing in such assets. Thanks for complementing this piece and for the words of concern, @josepha.
Crypto investment and been over confidence has caused a lot of damage oo. I feel sorry for your loose. Reading your entry made me remember an incident that also happened to me last year but I chose not to talk about it because it still hurts.
Thank you for sharing yours with us boss.
Being overconfident can be so harmful sometimes. Thanks for sharing your thoughts on this and I hope what you lost in your own case is not too much. I do appreciate your time on this, @ruthjoe.
I lost alot I but everything is fine now boss..thank you
And you are welcome
Saludos amigo, "si tan solo" te hubieras confirmado con las ganancias obtenidas, que eran bastantes, hoy estuvieras en mejores condiciones.
Pero Dios tiene el control de todo y pasó lo mejor para ti. Así que, ánimo y pronto vendrán mejores momentos.
Me gustó leer tu publicación. Gracias por la invitación
You are right, sir @pelon53. The profits if booked would have been a very great addition to me but God is in control like you said.
Thanks for honoring my invitation and leaving a worthy interaction on this.
What you have said, I have experienced it last year. As at last year I invested my money in Shiba and got 20x of my investment hoping that it would continue rising and as it stands right now what I am having isn't up to the amount of money that I invested. I have loss the both.
Thank you for sharing this your side of the story with us. Honestly there is something special that I learned from reading this your post which I would be working with in my trading.
Shiba Inu is a token that actually made a lot of people last year, so sorry to hear about your losses. You know what? There are better days ahead, so smile 😊. Glad to have you around and do have a wonderful night ahead.
Wow i have learnt alot from this post. A great work indeed
Thank you.
The fact is that unforeseen circumstances have dealt with many of us severally and there's this adage in my mother tongue which goes "every fish is culpable of water" meaning that it is not possible to be exonerated over circumstances that had overwhelmed you already.
Really, most folks issue with crypto is highly pathetic and we must all do the much we could to avoid future negative resurgence of this statement if only.. best wishes on your entry Boss cheers.
Thanks for adding up to the context, @davchi. Glad to have you around here. Better days ahead!
I have come to a conclusion that experience should not necessarily be "what happened to me" they could happen to someone else and the lessons I learn from it.
Thank you @fredquantum for sharing your Shitcoin experience and @josepha for amplifying the lesson.
Exactly, they could happen to anyone. The best one can do is to learn from every occurrence and avoid such mistakes in the future. I appreciate your time around here, sir @manuelhooks.
We learned best from experienced.
Crypto investment is a process that requires a split decision. No one can be 100% sure which way it turns, as much as we can predict a comparable degree. Thus, it is always the only advice to invest only what you can afford to lose. I feel sorry for your loss. But I know it only made you stronger.
Thank you for sharing yours with us boss and have a wonderful day.
When stuff like this happens, we should just learn to manage its effect and ensure we don't dwell on it for long to avoid being limited. Thanks for coming around on this and for the words of concern, I appreciate it. #Steem-on, bro.