I was reading a post a little earlier about avoiding the debt cycle and it brought up quite a few points I could relate with. I have a friend who earns relatively well in the financial sector but is saddled with mounting debt and on the brink of depression.
When decision making is involved, seemingly small and meaningless decisions build up over time and eventually reach a point of no return where they begin to move at a rapid pace either at an upward or downward spiral and create circles of either debt or riches.
Knowing that the projection works in both directions is a positive, and a warning to be weary. For the wealthy, they generally tend to stay wealthy by the size of their portfolios where investing even fractions of their worth is enough to bring significant returns.
However for those in debt, be it a company or an individual, things can go south very quickly and leave such individuals with highly restricted lifestyles, or render a company insolvent.
Crypto is an ideal example for how things can change consequently as a consequence of decisions. Investors who hesitated on a particular coin that is generating massive returns will likely rue their luck, so would those who have completely been victims of FOMO in the space. Fortunes can change quickly, and overnight millionaires can be made from having the right stake in the right investment when the time is right.
However, laying the foundation for such a change is a much slower process. Take for instance those who have built their stake on Hive to an appreciable level with consistency and dedication to the Chain. Those select few would presumably have a lot more opportunities at their disposal today and likely a lot more resources to take advantage of them owing to their being consistent.
It can all seem insignificant at the beginning though, and many of us don't actually start realizing the impact of our decisions till they become much bigger than they are, hence a lot more difficult to control. Rising or falling exponentially doesn't give a lot of signals before occurring either, so the onus is on us to be aware.
Conclusion
I think crypto, and Hive especially has taught me a lesson on making the right type of decisions that create opportunities for the future. In an instant, in crypto, it could be decided who wins and loses. Priming ourselves up for exponential growth or the prevention of decline is the way to place ourselves in the right framework for investments and returns.
It's interesting to me to read about how you view debt. I have heard many others say something very similar but explain it as good debt and bad debt or managing your money and letting your money manage you. Either way, you make a good point about learning to make good decisions. Learning from financial mistakes creates a level of self-discipline and allows for the proper allocation of funds. Be it in crypto or other areas. Glad to hear, you are doing okay and making good decisions. Too many others are not being able to sleep at night because they have made some not so great $$ decisions.
Kubs! So good to see you around these parts. How have you been? I hope we see more of you going forward