[Vlog] Obligatory "I'm off to Steemfest" video + thoughts on newbies entering Crypto
I'm in the airport in London on my way to Lisbon. My flight is delayed I thought I'd do a quick video.
Recently I've been talking to many people interested in getting involved in crypto. I've noticed two trends.
The lure of fast-cash
First, there are alot of people getting lured into HYIP (high-yield investment program) and MLM (multi-level marketing) schemes. I see the temptation. Understanding Cryptocurrency can be a bit of a mindfuck. To draw an analogy, in crypto most people think they need to learn the mechanics of what is under the hood of the car when they should just be learning how to drive. All these HYIP/ MLM by contrast are simple to to understand. Put in some cash and get your 1% interest a day. The irony is that a lot of these schemes are semi-sustainable (in the short term) because of bitcoin's massive bullrun. The reality is most people (bar the uber referrers) would have done just as well keeping their money in bitcoin.
These schemes look fine until that day you visit the site and it no longer exits because the founders exited. A few months back someone told be about Control Finance. I went to check out the site and it was a typical HYIP. I went back a couple o weeks later and the site had vanished! All I can say is if you're getting into these schemes, good luck. But that's a risk too far for me.
The FOMO is real
The second group are people getting bitcoin fomo. They heard bitcoin was over-valued at $3000 only to find that it's $6000 today and raising. They have people around them adamant that bitcoin is going to 10k or 20k. I feel like Mr Buzz Kill telling them to 'pump the brakes.' The best advice I can give is have a plan for if bitcoin moons AND a plan for if it dumps. If you're absolutely screwed if bitcoin dumps then you may want to revise your strategy!
Steemfest. Good luck.
Hei, thank you for commenting here. It is incredible when we all participate and help this community to grow. We appreciate it and we say thanks to you.
We also know that it is important to have a diversified news feed, with information from different sources and countries.
We invite you to take a look at what we do here:
https://steemit.com/vertcoin/@usethebitcoin/vertcoin-hits-a-new-all-time-highs-amid-reward-reduction
This is the way in which we can support other writers. From UseTheBitcoin team, we say thanks for the time you took reading this.
Even if you will not give us your support, we say thank you for making this community an incredible place. Keep commenting and giving great feedback!
Enjoy it man! Currently only commenting with sad eyes on all steemfest arrival posts with jealousy I am not able to make it. Have fun, will we still have the soccer rounds this week? I missed already last week. Enjoy the event, hope steem price gets a pump soon, i bought again too early today it seemz
Enjoy!
I can only say welcome to Steemvest arena Lisbon, and hope you will feel happy, may you always in healthy
Nice one @nanzo-scoop
I cannot agree more on your submission about these hyip and mlm schemes as I have been burned severally and now have to learn what's under the hood of the car and driving gradually knowing the mechanics of what it entails..
Remember to get us loads of pictures so we feel the breeze of Lisbon from our mobile phones and systems...enjoy urself and my regards to all this wonderful steemians out there👌
Hei, thank you for commenting here. It is incredible when we all participate and help this community to grow. We appreciate it and we say thanks to you.
We also know that it is important to have a diversified news feed, with information from different sources and countries.
We invite you to take a look at what we do here:
https://steemit.com/vertcoin/@usethebitcoin/vertcoin-hits-a-new-all-time-highs-amid-reward-reduction
This is the way in which we can support other writers. From UseTheBitcoin team, we say thanks for the time you took reading this.
Even if you will not give us your support, we say thank you for making this community an incredible place. Keep commenting and giving great feedback!
Sure...thanks for all the worthy efforts...well noted as we appreciate...
Will love it also if you take a peep on my blog...👌 Checking out the link you sent...
Just don't forget about the newbies entering steemit - forget crypto! Currently we are dropping like flies down here. Soon it will only be the steemfest participants on steemit if we don't find a way to help minnows grow.
Hei, thank you for commenting here. It is incredible when we all participate and help this community to grow. We appreciate it and we say thanks to you.
We also know that it is important to have a diversified news feed, with information from different sources and countries.
We invite you to take a look at what we do here:
https://steemit.com/vertcoin/@usethebitcoin/vertcoin-hits-a-new-all-time-highs-amid-reward-reduction
This is the way in which we can support other writers. From UseTheBitcoin team, we say thanks for the time you took reading this.
Even if you will not give us your support, we say thank you for making this community an incredible place. Keep commenting and giving great feedback!
I agree.. people should never count on anything for 100%.. it is good to have some backup plan..
Heard what you said about the FOMO around Bitcoin and all, and I personally feel safer investing in STEEM than Bitcoin right now. This is not to say Bitcoin doesn't have it's application or possible future application, but STEEM has way more utility than Bitcoin right now and it's all immediate.
I'm overly excited about the "design oriented surprise" that Ned promised and I earnestly hope that communities finally arrive.
thanks for the info
and would you give a small help to newly arrived steem user that forgot to make a introducemyself post and just did here
https://steemit.com/introducemyself/@petitefrancaise/introducemyself-bonjour-les-amis-french-girl-here
? please :)?
I do try to write meaningful posts about crypto and geopolitics :)
Sorry, but this way of trying to bring attention of others I don't think that its fair-play. You are polluting this man's post with links to unrelated things...