What amazes me about crypto is how your thinking changes the longer you are involved. This all started out nearly 6 years ago with no expectations and a lets see as we go mentality. In hindsight this was probably the best attitude to have as nothing gets you down just by rolling with what ever happens next.
The idea of building a crypto portfolio to subsidise my pension came at around two years and that was mainly down to seeing the growth taking place on the portfolio. You start to realise that you may be onto something that has serious potential and it does become slightly more serious even though the fun aspect always remains the focal point.
Year 3 of my crypto journey was interesting as the All time highs were flowing around in November 2021 which changed the thinking yet again. This was no longer a pension top up plan, but a proper income blowing the pension idea out the water. The ATH's has revealed the crypto portfolio values for the first time which was both exciting and scary.
Year 4 was when the idea cane up of creating passive income streams, but more importantly putting myself under no time goals. The reality is you don't have any idea what is physically possible because you are dealing with the unknown here. The lets see how this goes mentality is still very much the plan with the aim of achieving the best possible results.
The idea of finding 1o passive income streams earning $25 each per month was the main focus until I soon realised that this idea was too ambitious. I have never counted Hive as an income stream so it was 10 others besides Hive. Finding 10 decent staking projects is the issue as this is easier said than done. The research alone finding them and staying up to date would take serious commitment and why this number of 10 was revised down to 5.
Two years later I have only one and two starts which are still in their infancy stage. The $25 target on the first one has already been achieved and expect that to be earning $150 per month even at these Bear Market prices. This is a good test of where you truly are as virtually everyone could live off crypto at the ATH's, but not at their low points. This is the common mistake so many make saying they are all in until the market tells them otherwise with a 10th of the income they thought they had.
The next two years the focus is to cement my position with the other 2 projects and try and achieve the $25 per month minimum which I believe I will. This will put me over $200 per month om only 3 income streams plus knowing over the next 2 years these prices will rise and the lows of today will be much higher lows in the future. There is definitely money to be made even if it seems like not that much in the beginning.
What amazes me about crypto is how your thinking changes the longer you are involved. This all started out nearly 6 years ago with no expectations and a lets see as we go mentality. In hindsight this was probably the best attitude to have as nothing gets you down just by rolling with what ever happens next.
The idea of building a crypto portfolio to subsidise my pension came at around two years and that was mainly down to seeing the growth taking place on the portfolio. You start to realise that you may be onto something that has serious potential and it does become slightly more serious even though the fun aspect always remains the focal point.
Year 3 of my crypto journey was interesting as the All time highs were flowing around in November 2021 which changed the thinking yet again. This was no longer a pension top up plan, but a proper income blowing the pension idea out the water. The ATH's has revealed the crypto portfolio values for the first time which was both exciting and scary.
Year 4 was when the idea cane up of creating passive income streams, but more importantly putting myself under no time goals. The reality is you don't have any idea what is physically possible because you are dealing with the unknown here. The lets see how this goes mentality is still very much the plan with the aim of achieving the best possible results.
The idea of finding 1o passive income streams earning $25 each per month was the main focus until I soon realised that this idea was too ambitious. I have never counted Hive as an income stream so it was 10 others besides Hive. Finding 10 decent staking projects is the issue as this is easier said than done. The research alone finding them and staying up to date would take serious commitment and why this number of 10 was revised down to 5.
Two years later I have only one and two starts which are still in their infancy stage. The $25 target on the first one has already been achieved and expect that to be earning $150 per month even at these Bear Market prices. This is a good test of where you truly are as virtually everyone could live off crypto at the ATH's, but not at their low points. This is the common mistake so many make saying they are all in until the market tells them otherwise with a 10th of the income they thought they had.
The next two years the focus is to cement my position with the other 2 projects and try and achieve the $25 per month minimum which I believe I will. This will put me over $200 per month om only 3 income streams plus knowing over the next 2 years these prices will rise and the lows of today will be much higher lows in the future. There is definitely money to be made even if it seems like not that much in the beginning.
Posted Using InLeo Alpha
I'm hoping to be able to live off of passive income in the next ten years. It's slow starting buy just like you I' seeing slow and steady growth. It's smart not to set the time limit because you never know. With any luck in two years we can both be living off of our passive incomes!
2 years maybe too soon but definitely within 5 years and not a passive income either, but a full blown income. My goals has been to achieve the $10K monthly income mark at some point and believe I may be able to achieve that on just one of my 3 staking projects. 10 years is realistic but we know crypto and how things change so quickly so seeing HIve above $1 permanently would seriously help.
I know you guys probably don't celebrate over there, but I just wanted to tell you Happy Thanksgiving.
Thanks. No we don't and happy thanks giving to you and Mrs Bozz. My daughter was showing me some funny clips this evening of how you guys deep fry your turkey and when things go wrong. It looks dangerous and nothing safe about it lol.
You just have to make sure you use a big enough fryer for the size of turkey you are cooking and that it isn't still frozen. Hot oil and water don't mix at all! If you have never eaten a deep fried turkey though, there isn't anything quite like it. It is so delicious and juicy!
I saw someone drop a frozen turkey into their drum of oil and I am sure it was a joke and not real, but you would have to be dumb to do that. I am sure it tastes great as I am not a fan of turkey due to the meat being dry normally when cooked in an oven.
Definitely not dry when it is deep fried!
I have known this industry since 2017 but earlier there was no money and then later we also made some mistakes and now we have gone and made some sense and now this time we are thinking that the mistakes we made earlier are the same. Don't do it now. If we go about it properly and use our experience, we will definitely make a profit from here within the next couple of years.
For some reason the post has duplicated a part of the text.
It's a good read, regardless, and yes! I agree with you. Crypto staking options are a good way to earn a passive income, the trick is knowing which projects to invest in that will give you the return you are looking for and that will be here in the future.
There is no point in investing in some project thousands of dollars hoping to get a nice APY, only to find out that a couple of years later the project is dead and all of your investment is gone. DYOR is essential for any quality decision making. Sometimes even that is not enough, as we have seen many projects disappeared into oblivion in the past 15 years.