So, i have been in crypto for around 3 months now. A complete newbie, i realize but still, it has given food for thought. Mainly about the way that using digital currency affects the way we see money.
Most people have experienced this when changing between paper money, and a credit card. When we use actual, physical money, we tend to be more aware of the fact that we are spending cash. On the other hand, when we use a credit card, or shopping on the internet, this fact is easier to ignore or forget. I have never had the need for much material wealth. I do enjoy spending money on good food, or quality tools, but i do not find shopping to be enjoyable in itself.
Despite this, i still find that the further away we move from paper money, the easier it is to spend recklessly. I have dabbled a bit in the stock market, and lost quite a bit of money as well. Still, it didn’t feel as bad as actually burning money, because it was simply numbers on a screen.
For me, this has only been amplified with cryptocurrency. In a lot of ways, cryptocurrency seems like the stock market on steroids. If a stock drops 5% it can lead investors into a deep state of panic. If my portfolio drops 5%in a day, i don’t even blink. My portfolio can drop or rise without me truly caring. This is partly due to the fact that i am invested long term, but it also has to do with the fact that it is a super simple form of investment. It is easy to sign up, and easy to get into (for now). And even though my portfolio actually represent a good amount of money (at least for me, a student), i don’t actually give it much thought. Naturally, i never invest more than i can afford to lose, and this is of course a very important aspect. Even if everything drops to zero, i would be absolutely fine. My time spent investing in stocks have taught me that if you’re worried about your investment, you’ve invested too much, at least in my own perspective.
Still, i find it interesting how cryptocurrency could affect the way we see money. Because even though crypto does hold a real value, it can sometimes be hard to believe. I am yet to actually use them to buy something, and until i do so, i think that they will simply remain numbers on a screen.
Shit, i no longer have any idea where i’m going with this, i’ll just end it. I’ve been up for way too long, and just needed to get some thoughts down.
Cheers
"Cryptocurrency " money 💰 good investment..
Nice Information, thanks !
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Nice post! Keep it up!
very good contribution, helps you to see things clearly. keep it up # steemit4life
Same here!
I have been working during my student days, and with the steemit I have earned a lot more than the whole 2 years of some shit brainless job.
But still kinda pushing it into steem power and waiting for the right price to cash out - gives me a doubt is it working, no need to celebrate etc... :)
Why cash out though? Personally, i'm powering up everything i earn on here. In the future, i hope it will be rewarded with a high voting power. I think that steem is one of the most interesting crypto's, so if the market survives in general, i think steemit will survive as well. I'm not planning on powering down at least :)
Well, lets say you cash out a small portion of steem to live and the rest to power up :) as for now I have no other income since my student days are gone past gone. And new PhD project is starting in the summer / until then I'm gonna do some high intensive steeming :D
Ahh, makes sense. I don't think i will power down, but i could see using some of my SBD. I'm definitely happy to be living in Denmark in terms of income. We have some support as students. Despite that, i just send out a job application today, and will start looking for more. Hopefully, one day we can live off of steem :)