Move along, go about your day

in philosophy •  last year 

How many people feel affected by the drop in crypto prices? Depressed? As of this very moment, has your life changed significantly? For me, not much has changed as day to day, my life is not dependant on the fluctuations of the prices as I am thinking long-term across the board. The frustrating thing is that I have no moves to make, I am in a holding pattern for who knows how long. Doubly frustrating as I would love to have a little to buy a little more.

The problem I find with many though is that they quickly start to rely on this as an income of sorts and when times are good, likely expand their lifestyle in the same way they might if they get a pay rise at work. This is too volatile for such luxury in my opinion and when it dips again, they will probably find themselves short. I think that overall for most, crypto is too immature as a market to rely on it for basic parts of life. I do understand if there is very little option in life and every little bit counts, no matter where it is from but, reliance on it should be approached with extreme caution.

There is an impatience associated with cryptocurrencies that I have not seen so much in other areas of life, a long hold is a month, a week dip an eternity. Everyone is in such a rush for this all to make their dreams come true that they are too quickly thinking that it has happened already. I am yet to meet anyone who doesn't want this to change their life in some way, to help them increase the quality or decrease the suffering in everyday experiences but without patience, it is unlikely to help them get there. Patience is the key to all of this really, that and short-term thinking.

Yes, I know I often say think long but, in the short-term it is important to set up life so that patience is possible, that when there are massive dips, there is no need to panic sell and some kind of backup plan that doesn't rely on using crypto to fund it. Yes, I understand it isn't always possible but what I find is that more often than not, there are always jobs to be done though, they may not be glamorous. This of course is heavily dependant on where you live in the world.

But, I know people who have come into Steemit in the last month or two and have very quickly taken their first payouts to better their current situation and during the dips, talk about losses. Technically, compared to their month before Steemit providing anything at all, they are still up and there is still improvement in quality of life albeit, at a lower level than when SBD and Steem were much higher than today.

Of course, in the long-term, these people's dreams of crypto significantly improving their lives are minimised heavily as they are spending an appreciating currency that is currently near the ground floor as if it will not climb. Sure, it may not climb and all the markets will die forever and ever but, I will be patient a little longer myself.

I was in chat and was asking people of they live off crypto and although some might use a bit here and there, it seems that none actually rely too heavily on it in their day to day lives to get by. What was also interesting to hear is that for the most part, people would rather live on very little and suffer short-term for a chance at the long-term dream.

I feel the same about this. I have suffered and struggled before and know that I am capable of taking more if needs be. As long as my baby has her immediate needs taken care of, I am quite able to live off noodles and rice with tomato sauce if I have to. Sure, things are not to that point yet for me but, I am emotionally and physically prepared for it. Even though I run a small business, if I am forced to take a second job I will, and I would rather do that to make ends meet in the short-term, than sell crypto holdings.

I have some plans if this all works out, just like everyone else and some of the plans are impossible without it. Without winning the lottery, I do not see another way where I am able to have a chance at this kind of future freedom and from my calculations, even with the volatility and uncertainty, the likelihood of this being the winning ticket is much, much higher than buying an actual ticket in a lottery.

I am hoping that as many people in this world are able to benefit and realise some of their dreams from this in the future which means, no matter how bad things get, they have to hold some, even just a little. If nothing else, that little is a light at the end of the tunnel and in a year or ten, you might really appreciate the warmth it could provide.

Taraz
[ a Steemit original ]

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It is disappointing to see the numbers go down,on the other hand it is a good time to buy it. The pattern is so uncertain, I'll HODL at the moment and continue writing articles.

this is the way. I have nothing to buy with so, hold is my way forward now.

  ·  last year (edited)

When the crypto market is down I get a chance to spend more time in writing !! (Long live steemit).

So it doesn’t affect me at all :)

And of course, I believe in HODL !! I never sold my steem and I never will until its really necessary!!

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Of course patience is the most important thing in it.
But to have patience you need to have a relatively stable life.
In my opinion crypto's like Eth are nice to make a little extra income but it is not a job replacer! It's simply to unstable...
Anyway i do not think the market will "die out" .I think it's just after christmas and it will raise again while the year is going on.
Excuse my english ...

i think if you are just a biginner you won't say so dear of course we shouldn't rely on this as the only source of income even finding work in some countries is really difficult and of course if i have the power yu have i won't be worried about the price even i don't care much about it in addition to this i'm jobless but even i have strenth here i think i have to find another source of income exactley like you

I wish I can have as much strength as you do. I have tried to keep my eyes from news and coinmarket. Well, I still choose to believe it will get better. Though I don't have much in Steem but in Ethereum and bitcoin, I believe it will get better.

Its not as easy as I say to hold but well, I feel better believing in the future than rushing to throw away my escape ticket.

I have looked too but I just see it as missed opportunity at this point as I don't have to use it yet. Missed opportunity today is short-term though as selling now for me would be a missed opportunity in the long-term.

finally someone sees it my way. You know I tell most that steemit as well s other crypto opportunities still fall under one category of income.
Yes it sure pays, of which I can testify... but we still need to be proactive in our thinking knowing how volatile the cryptoshphere is. It's wise to use these crypto profits to make some by the way invstments, that way no matter the face the market wears you can HOLD and enjoy the dip because you are secured.

thanks for this, i really needed to read this

you are most welcome :)

I still think we should panic. Nothing like a nice panic every now and again.

I kind of agree. makes one feel alive :D

so to think a person always be a bit short. he will earn more and above there will be queries. money should be treated just. if they are good. if there will be))))

I don't rely on it to live, but the $10 day made a significant difference where we are living.
( I could buy a couple of bottle of beers, and things.)

Not a crisis, and not selling off my small amounts - but it would be nice if it went up just a few more dollars for now....

That is just a fantastic article. You have nailed my thoughts in one. Patience is key. We are all taking a shot at something that could be really big, maybe even change our lives but it won't come quickly and it sure as hell won't come without our resolve being tested along the way. So glad i came across this article and glad to see people are reading it. well done on getting your message out there

The thing is that we tend to feel much more "hurt" due to a certain amount of misfortune than we tend to feel "happy" due to the same amount of good luck.

Anyone who is on Steemit or otherwise deals with cryptocurrencies needs to be mentally prepared to accept the inevitable ups and downs.

You made a great move by powering up when SBD/STEEM ratio was about 5:1. Instead of whining, those who are on the losing side should take notes what to do when similar situations happen (and they most certainly will).

Huh! Some people have been able to survive on cryptos only and such dips cause a big effect in their lives.
Your ideas are good, i realise crypto can be a good investment especially if you can earn from somewhere else, to resist the temptation of withdrawing every profit.

I do understand the 'need' but for most, crypto is a very new revenue stream that they had no access to earlier. How did they survive then? Long-term, the future is bright and if we compare to this time last year, the marketcap is still up about 400% in total. Pretty incredible.

To be honest, I have tried on many things before like Fiverr, Blogger etc but definitely Steemit.com is the easy way to earn some money to pay my education expenses but I am somewhat feeling not well due to the drop in prices in recent days.

At this point in the game, don't rely on it to live.

  ·  last year (edited)

Thank you so much. I will definitely act upon your advice, sir. I can see that it is highly unreliable till yet. As Steemit is an example of this. Steem dollar value dropped to almost $3 dollar

Because as far as i know steemit want's to have their currency 1:1 ...
The steemit dollar drops because there is no "upper limit" of Steemdollars.

Am one of the people that had expanded their lifestyles. Money has been coming in pretty fast of late. Less than a month old in steemit, I had thought these would be new beginnings that are here to stay.
Your advise is something I needed at this time, am still in shock.
Holding a little is something smart that everyone of us should adopt to keep up with whatever the situation turns out to be in this world.
thanks @tarazkp

your future possibility in crypto is dependant on holding some, your future at Steemit is dependant on steem power.

The value of my Steemit account has gone down but I am not planning to power down so it doesn't really matter. I wish I had a little bit more money to buy some steem. Hopefully no one is jumping out the window

yes, me also but I need the car to do my work, otherwise it would be gone ;)

Wow...excellent post, thanks for sharing

Very important and valuable post
Which one you following
After see your comment realize that they are very happy to follow you
Also i am very happy to follow you
Thank you

Very impressive post sir

Dear I to in loss and I am shattered totally bur still there is a hope that one day i get profit and my patience pay my bill. I invest huge amount and now i loss 70%. My exam on next month and i an unable to concentrate on my studies. I wish soon crypto surge. I am dam sure this is the future and no one can stop it. Cross your fingers.

just hold it as long as you can.

I'm not disappointed . I believe on crypto market and I believe every coin price will rise again.

Wow liked your post .. happy reading it .... really amazing .... thank you for sharing a good day.

articles that are enlightening, I like

I recently came across this interesting concept called lifestyle inflation. People tend to increase their spending habits at the same rate as their income goes up. To me it seems like a very distant thing, but I can understand why people do it. Personally I like saving as much as possible and I'm wondering if I'll still be saving after I have financial freedom in 20 years or so. Anyway, people should be more aware of the effect of lifestyle inflation and when they earn more, they shouldn't automatically increase their spending. I'd suggest spending 10% more of the increased amount of spending power. So if one's pay increases by $200, then they could spend $20 more per month and save the rest. By doing that one won't fall into the trap caused by lifestyle inflation if the situation backfires.

Leave all crypto parts alone..I have nothing with me and I won't worry a bit about its ups and downs..I always read your posts just for the sake of improve my English! I always have to read it twice to understand..It is not crypto but knowledge is our ultimate asset..Thank you for delivering such a high class English always!

Actually, you are already doing really well here even with the SBD and STEEM prices being as "low" as they are. Of course, if the idea is to be prepared for STEEM and SBD going back to $1 or even further down, your current level of earnings is probably not enough to live on.

My own earnings have plummeted in the past couple of weeks but that is only normal. It would be nice to earn a substantial side income on Steem after a few years of Steem Power accumulation, growth in the number of followers and improvement in my photography and writing skills.

I have found writing on Steemit to be a good way to expand my English vocabulary. I've had to look up a few words every now and then. For example, I did not know that auton bensaluukku was called fuel door. When you don't live in an Anglophone country or never have, it is little things like that you never need to know the words for and thus never learn unless you make an effort.

I have seen a couple dips before since I started buying in July. I’m new on steemit so I have been focusing my attention to this now instead of constantly checking my Blockfolio app! I also agree that the money I put into crypto is kind of like a fantasy that I hope will grow in the future. I’m trying to think of it in years, not days or weeks. I also only invested as much as i can comfortably lose. It was really tempting in December to overbuy but I didn’t luckily. I think over investing is the worst thing you can do in crypto. I am already a stressed out person naturally and I don’t want to stress myself even more 😂