Do I drain my account now? Do I wait until later? When is a good time to sell what I've earned?
Each and every day there are thousands of new investors into crypto. These people have purposely stayed away because the mainstream news media told them how scary it is..
That doesn't matter. You can give more news, news, and news, and eventually people become immune to the news and they want to try their hand at investing.
A few hundred dollars buying into Bitcoin or STEEM on a gamble seems well worth it. Especially after you've heard of the great successes that have happened to people who did it.
You can buy lotto or scratch tickets and only get a bit of hope you might have a 1 in a million chance of getting lucky.
Instead of buying lotto, I would recommend gambling in crypto.
Q: If I gamble in cryptocurrency, is there a chance I could lose it all?
A: Eventually yes.
Q: If I gamble with lotto or scratch tickets is there a chance I could lose it all?
A: Eventually yes.
What is the difference between state lotto draws, scratch tickets, or cryptocurrency?
The odds are better. The chance of losing your gambling money on lotto is much worse than it is with cryptocurrency investments.
listen, most people only spend $20 a month on lottery tickets and sometimes they only win small amounts like $5 or $20,. @intelliguy are you saying I'd be better to spend that same $20 on buying into cryptocurrency?
Yes I am.
Cryptocurrency is a gamble. It might not have the same chances as big payouts as winning the lottery, but you have better chances at not losing 100% of what you invest.
.
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In this case, time works on your favor. $20 this month, $20 next month, and $20 all year means you've invested $240 worth of money into crypto over a year and you are less likely to lose the entire investment.
In the case of Bitcoin, if you would have invested $240 into Bitcoin in March 2010, with a bitcoin price of $0.003 cents at that price in 2010 today (Feb 2018) you'd have 80,000 bitcoins worth $720 MILLION DOLLARS
Ok @intelliguy, no one in 2010 knew Bitcoin would go viral and worth that much.
You're right.
We're in 2018 now.
What you realistically could say to me in 5 years could be this:
Ok, @intelliguy no one knew in 2018 that Bitcoin was could be worth $526,000 in 2023
Could it be? If you bought $240 Bitcoin today, and if Bitcoin is worth $526,000 in 2023 you'd have 0.026 BTC today. If Bitcoin followed the same growth trend it has since 2010 that $240 invested in 2018 would be worth $13,626
You're crazy @intelliguy ... Bitcoin can't possibly be worth $526,000 in 2023
REALLY?
Did anyone think in 2010 that Bitcoin would see a high of $19,500 when it was worth $0.003 USD in 2010?
No... so it's not crazy for me to consider Bitcoin being worth $526,000 in 2023 either...
REMEMBER, there is only 21 million BTC / Bitcoin that will ever be created for the entire world. There will never be more Bitcoin than that... it's a scarce and rare resource. As time goes on, Bitcoin value will increase over the years.... since it is always in demand.
...that can happen in only 5 years. Will it happen? No one knows.
All I know is that if you're going to gamble $20 USD into lotto or scratch tickets each month, you'd be better off putting it into cryptocurrency than you would by playing the lotto.
Stop wasting your money on bad odds on lotto and scratch tickets and use that same money to invest in cryptocurrency.
That's my advice, even if I am not an expert and this should not be taken as expert trading advice. Make your own decision.I just wish I was around in 2010 when this started in March 2010 and had $720 MILLION DOLLARS by investing $240 back then.
Expected Value is a key concept in gambling theory. In some cases (like poker) it can be estimated fairly well. In blackjack it can be rather precisely calculated (depending on the game rules, playing perfect Basic Strategy, a bet of $1 has an Expected Value of about $0.995).
Every $1 bet on a lotto game has an Expected Value of $0.50, the State takes a massive rake.
Crypto bets are all but impossible to calculate an EV for but the gambler in me guesstimates that money put into crypto is a better bet than money wagered on lottery tickets.
I believe steemit is the best pick for this year . It's popularity is soaring .Just look at Fb's mcap more than 500 B , we know Steemit is better than Fb and it's mcap is only around 1.5B . Imagine how much steemit platform will grow ! We are the best rated crypto right now with B + . Fb is waste of time , we got everything here on steemit . News , gags (dmania ) , dtube , steemchat . Fb already lost a million users , i hope they will land here .
Dollar cost average and accumulate crypto over time. You would be surprised how fast 20 bucks a week grows, especially if crypto is appreciating in value.
The difference between lotto and crypto is that coins should either have utility or act as a way to micro invest in projects that are creating utility. If you view or tell people crypto investing is like lotto, you are robbing yourself and others the chance to understand what the blockchain is and what makes it so revolutionary :)
Scared money don't make no money
Everyone can not predict bitcoin 2017 at the earliest, bitcoin still weak, and at the end of 2017 bitcoin soar and early in 2018 comeback,
Although the number of bitcoin quite a lot, but the demand is very high. It is also influential. thank @intelliguy
gambling and buying virtual currency are the relationship between expected return and unanticipated return.
never drain! always hodl!
none of us wizard or medium but it can highly possible to rising of steem dramatically . it gives trust and preffered via high speed transactions. it has grown and spread by steemit and other social media. therefore there is no reason not to increase. so its a good investment for us. thanks for your post.
Your this post is forwarding knowledge to your followers WHY STEEM is a good investment and what you can look forward to.....REMEMBER, there is only 21 million BTC / Bitcoin that will ever be created for the entire world. There will never be more Bitcoin than that... it's a scarce and rare resource. As time goes on, Bitcoin value will increase over the years.... since it is always in demand.
I think steem and sbd are worthwhile investments but I'm not sold on the 1,000+ other cryptos.
thanks for advice. I will consider.
Nice post dear, thanks for it.
Your this post is forwarding knowledge to your followers WHY STEEM is a good investment and what you can look forward to..
Thank you for the great post @intelliguy
@steemcleaners
Well very good explanation and extraordinary information I liked a lot, good graphics thank you for sharing friend post of high quality congratulations, if you can support me on my blog I will be grateful
Well, Bitcoin was a scarce and rare resource when there were no alternatives that worked better, cheaper, faster and more efficient. Since there are now many coins that are superior in every category, BTC has done its job as a frontrunner and will decline in value rapidly.
The advantage to be first in a market is only one as long as you keep innovating and adjusting to this market. What we are already seeing through the many forks with BTC is, that there is no consensus in the BTC community, making it basically unable to adjust in a extremely fast market - which, for me, is the first and very clear sign of incoming death.
So all you say is true, but only as long as a coin/project is flexible enough to compete. That´s not the case with BTC, why it will die most likely sooner than later.
Let's use your analogy with soda:
Coke-a-cola was popular when there were no alternatives that tasted better, cheaper, could find them easier and had better advertising. Since there are now many different cola brands that are superior in every category, Coke-a-cola has done its job as a front runner and the company will decline in value rapidly.
The advantage to coke-a-cola to be first in a market is only one as long as you keep innovating and adjusting to this market. Coke-a-cola is basically unable to adjust in an extremely fast market, which for me is the first sign of incoming death.
So all you say is true but only as long as a soft drink company like Coke-a-cola is flexible enough to compete. That's not the case with Coke-a-cola, and why it will die most likely sooner than later.
I'll see you in 2023 where Bitcoin will still hold some significant value.
Well, it is even true for Coke! They are innovating all the time, adjusting everything from their logo to their formula, more sugar, less sugar, no sugar, color, tastes, new products etc etc. - so yes, everything 100% true for them! Besides that, there is nothing that tastes like real Coke - so their product is not broken (like Bitcoin) 😀
But even if this were not true, it is a completely different market!
I´m pretty sure, that there will be no Bitcoin in 2023, but even if there is, it will have a tiny market cap - after losing already 50% of its market cap in just 2 months.
Whatever will happen in the future is of course just speculation. The only thing that´s pretty sure is, that you will have the opportunity to buy the dip at about 5k in the next 2-3 days 😀
once again a very nice article intelliguy!!!....i think all of us being in the crypto business since almost the beginning - i was involved in 2013- we bang our heads towards the wall when we had the chance to buy BTC at 200 dollars and we didn't....i'm not saying why i didn't buy at 0,003 dollars cause i didn't know what was going on then but when the level of bitcoin price was 200 dollars i knew everything but i still didn't invest....i am more than sure that a lot of people reading your article will agree with me and many of us would have made great sums of money if they had invested with BTC by that time....anyway...its never late...
Game console image source: By Evan-Amos - Own work, CC BY-SA 3.0, Link
As far as I can understand, Steemit is the best on-ramp into the world of cryptocurrencies, especially for beginners. Earning money involves very minimal risk. Indeed, one can start earning without having invested as much as a penny. The main thing is that money is earned by providing value to the community. More specifically, it means finding an audience and consistently providing it with information and resources if deems of considerable worth. Be it timely and accurate market analysis, providing unique insights into pressing issues, or just being able to brighten someone's day, satisfying the needs of others can lead to financial rewards.
The value proposition that Steemit has to offer is that it has the potential to allow individuals to build a considerable amount of wealth over time. But like all things in life, excluding death and taxes, the is no 100% guarantee that this will happen. Nevertheless, consistent effort and prudent management of resources should lead to desirable results.
Bottom line, personally, Steemit seems a much better bet than riding the Bitcoin roller coaster or wasting money on lottery tickets.
I too am no financial expert and each person should perform his/her own due diligence and seek out professional guidance where necessary.
The lottery is a tax for people that don't know math, crypto-investors avoid tax all together.
I think the key to this is patience, and not panicking when the price plummets.
I have a couple of hundred dollars worth of crypto - well I do now. A couple of week ago I had a couple of thousand dollars worth.
But I'm not bailing out just yet. If I sell up, i get not a lot. if I wait patiently, I either get less than not a lot, or I get a lot when the price goes up again.
The trend over the last few years, as far as I can see, is for crypto to crash at the beginning of the year and then build towards new highs at the end of the year.
So now is a good time to squirrel a little into crypto, and jut leave it there. And don't worry about what is happening day to day.
This made my smile :)