RE: The Steem blockchain: Value the product for what it is, and not what it is worth
My dear Holm! I've got years of investing experience, I was telling people to get their money out in Januray, February, March. I'm almost embrassed to tell you how much I turned into cash, gold, and silver. I've been living on it all year and can probably live on it all next year too.
Too bad we were not in touch, back then I would have advised you to sell too. But you probably wouldn't have listened anyway. I told half a dozen people to sell at the top. NOBODY listened to me. However I will say this....now is the time to buy!
A comment like this probably makes me look like an ass, a told you so ass. I've never written this on steemit....but I couldn't resist telling you my story in such an appropriate post. Next time you feel euphoric about the price of steem.....time to sell, or at least diversify a bit ;)
Congratulation, you are now my new personal financial adviser! haha.
To be fair though I think there were a lot of signs it was coming to an end I guess many of us were just a bit in the clouds of dreams. Sometimes some realism is healthy I guess.
I already started getting some more buys in slowly. Also, my hope by having a few other coins of interest, if some of them were to rise before steem, I then could turn it into steem. That is my strategy anyway.
It must feel good to sell at the right moment, just as it has to feel good buying.
You better let me know next time!
I wish I sold the IOTA i bought just before it exploded. I still own it.. hahaha! :D
It's not about the money for me anyway... Having it would not hurt though.
@world-travel-pro, you told them to sell. Did you know why? Did you actually see the fall? How?
Parabolic moves and euphoria are strong indicators of a top.
Thanks Holm. I hope there is a next time to sell that is good. My confidence in general with cyptos and steemit is just that there isn't a long enough history with this stuff to really gain much confidence. All things have a beginning middle and end....I just hope we are still in the beginning here in Steemit world.....I think that we are ;)
I'm secretly hoping that you are right. New to this whole world, I was convinced easily by a new friend to check it out and I look forward to becoming a small part of it. Hoping to make a first purchase soon, may it not scar me for the future of crypto!
Thank you. Just remember look at your assets as a whole. Then think diversification and preservation as your top two priorities. For one to put ALL their money in Steem or anyone investment is pure insanity and great way to go broke (not saying you are/would do this). Invest what you're comfortable with, invest what you can afford to lose and you never know, you could hit a home run!
Haha, that is great, insightful wisdom as I had planned to simply invest in Steem alone. This is a big world and I'm not the slowest learner but I'm looking for hands to hold.
Glad I could help :)