Investing when you are relatively penniless can be a very interesting — and at the same time very frustrating — experience.
I suppose there's a lot of traditional wisdom that says that "in order to make money you have to spend money." Which always makes me pause and wonder what happens to those who don't have any money to spend? Are they automatically excluded from the field of investing? Should we just pack it in, and head back to the loneliness of the cardboard boxes in which we live?
When I first started dabbling in crypto (circa 2015) one of the allures was that you could get involved with much smaller amounts than the legacy financial markets.
I should back up here for just a moment and clarify that when I say "relatively penniless," I'm talking about being somebody like me, who is on occasion ending up with $50 left over at the end of their month that they can justify doing something with, after all their bills have been paid. And sometimes it doesn't happen.
Or maybe — as in the case of Hive — somebody who perhaps has no actual cash money, but they have a little extra time that they can invest as sweat equity to build a balance through content creation.
I suppose one of my points of frustration comes from the eternal insistence that whenever the market takes a nosedive everybody is out there saying ”buy the dip, buy the dip!”
Yeah, thank you, but I don't just have idle cash sitting around to do that every time a dip happens. Besides, I'm not really a trader, looking to buy and sell every time there's movement in the market. Part of that may stem from having spent many years in the legacy stock market where you would primarily just "buy and hold," and I'm talking for years at a time.
Most of the time I end up seeking out opportunities and projects that will allow me to get my feet wet with next to nothing.
I have never been a big air drop chaser, in part because I have rarely encountered any air drops that actually turned into anything of value, and in part because I believe that diversification can become excessive and then your investments are so minuscule and fragmented and lacking focus that nothing comes of them.
In some ways, it works a little bit — for me, anyway — like I approach being a rare stamp trader online. I have specialty areas I focus on... and I don't just try to be a "random opportunist" in all areas of the hobby.
It might not be the greatest comparison... but there you go!
An additional challenge comes from the simple reality that when you live in the precarious situation where one small emergency will require you to empty out all your savings/investments to fund it... after which you basically have to start over.
It can be a bit frustrating and futile sometimes, but you have to keep trying, right?
Still, I try to maintain an "attitude of gratitude," because there are always going to be those who are far worse off.
Thanks for stopping by, and have a wonderful Sunday!
Comments, feedback and other interaction is invited and welcomed! Because — after all — SOCIAL content is about interacting, right? Leave a comment — share your experiences — be part of the conversation! I do my best to answer comments, even if it sometimes takes a few days!
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Created at 2025.01.26 01:56 PST
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Buying a Dip is good option if you have money you don't need it for a while otherwise it is difficult to buy the dip and bear market fluctuations.
Truly it can be interesting and frustrating at the same time. Thanks for the effort you put in such a thoughtful post.
Or you could be like me and have a little bit of money, but no way to turn it into HIVE due to banking and Coinbase issues. Either way I get where you're coming from, and send you best wishes from here on the east coast of America. I've been inspired over the years by the people who had the time to post daily and engage on a massive basis in order to build their accounts from almost nothing, drip by drip.
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It's deep thought... Good for you that you maintain the "attitude of gratitude". Everything will fall into place.