RE: Paradigm shift from Bitcoin to Bitshares
Hi schwmm, sorry to hear that.
I understand your concern, I doubt that it makes you feel better, but I lost a lot of money years ago by making bad investments in the cryptoworld.
But they were mainly mistakes I made due to greed, impatience and bad luck.
When you jump in crypto you have to make your own decisions, you can't hold anyone responsible but yourself.
I also think that most people should probably know by now things are very vollatile.
I am not asking to invest, although I hope you will and I am just a steemer who has a big interest in BitShares mainly because I am invested into BitShares and also for idealistic reasons.
My idealistic reasons for choosing BitShares: I hate what the current monetary system does to everyone around us, I want to see it changed.
Any monetary system usually implodes on itself leaving everyone hanging apart from the wealthiest, why not give BitShares a revolutionary system a chance. It could work, I want it to work and I prefer doing my own finances anyway.
Taking investment risks, I am willing to take based on a fair system, not something that is backed up by debt and air.
Will BitShares have it's flaws as an economic system, most likely but I strongly belief the system is not build on greed. I believe in @stan, just based on what he writes and says.
In order to give it a try I didn't invest more than I am willing to lose in it, it is still experimental. Like any crypto, don't put in more than you are willing to lose.
Nevertheless I think all I written down is backedup by facts, so that the reader can make their own decision.
I have also written articles that cover exactly what you mention, literally a few days ago, to be very careful before making a decision to buy/ sell. See link below.
I do mention in the article above two things, new investors be aware of Bitcoin and I mention they have to make up their own mind in terms of what the best decision is.
https://steemit.com/steemit/@oudekaas/this-may-save-you-some-headaches
Thanks for clarifying and being honest!
I wish you all the best for your investment and I'm here too for the fundamentals (although like most people I hope to make some decent money on the way ;) )
Hi schwmm, Let me know how it goes this time and if you have any advise I would like to hear it. that applies to everyone that reads this :).
Sharing knowledge and mistakes is always the way forward
What I learned for myself so far in the crypto space:
If you invest longterm, then you are best of basing it on the fundamentals of the project. In that case the current price is only secondary as you do it for the right reasons and shouldn't look at the charts every day.
If you want to make a quick buck, then daytrade. Here the fundamentals of a project don't really matter but it's all about the current hype that determines a good trade. For example last week I wrote a blog post mentioning that I put money into Dash because of a big conference tomorrow.
I am already up 20% since then and will sell again just before the actual conference as the hype probably will die shortly after.