You are viewing a single comment's thread from:
RE: Thanks to steem, I went form 14 bitcoin to 120 bitcoin in 2 weeks
First, congratulations on your success with steem @craig-grant. We're probably all a bit jealous ;)
However, upon reading your post, you make it sound like you're not at all diversified anymore. Am I right? And if so, aren't you worried about losing it all if steem ever crashes and burn?
When the DAO hack happened I was 95% bitcoin and 5% ether, the day after the DAO hack I was 99% ether and 1% bitcoin. Diversification is for those who fear losing money, and profit goes to those who don't. The money I invested in crypto is money I would have never saved up anyway, so I have nothing to loose, and much to gain by just the experience alone, even if I loose the money
I have to agree I overlooked that experience does have a value. However, diversification can also be about a vote of confidence for multiple technologies/platform. But I guess that might still be construed as fear, be it the fear of losing it all or the fear of missing out...
In terms of "vote of confidence", I think bitcoin is a great store of value and steemit is the first application that onboards non-crypto users into crypto, beyond that I can't say I'm confident about anything else in crypto.
When risk pays off, it can pay off big. IMO, given time, patience and proper crypto research, one should be able to cash out their original fiat investment and move forward with house earnings, rolling them into further profitable crypto endeavors.