Two or three days ago there was this hype about master nodes, people getting a HUGE amount of profits in the lapse of 1 or 2 days, to mention a few examples:
- Syndicate (SYNX)
- ChainCoin (CHC)
- MonetaryUnit (MUE)
At least for Syndicate, it got an increase of 999% overnight, that was crazy and make me regret not getting in there in time when they were announcing to get into a day before, so I decided not to wait any longer and went to buy $500 + 10% interest of bitcoins to get into the train with the promise to make it go to the dreamed goal of $10 each coin. But it happens the worst case scenario and now that I think about it the more probable one, it kept getting lower and lower prices, I lost in that coin $300 of my $500, that really hit me hard, I could have jumped out of the hype train with GAINS when I had the chance maybe 0.1 satoshis in gains with it was better than to lose more than half of your investment, in other words, I could have get myself out of the hype train soon enough but greed was my biggest sin and now I have paid the price for it.
But thinking now rationally I started to see a pattern in these so called Bump and HODL groups (yes HODL is spelled right, it stands for Hold On for Dear Life), the ideal goal is to keep the majority of the coin to keep it rising its value overtime so it can skyrocket to the moon.
That's an ideal dream and it is a good goal because everyone that joined can get benefits for being a holder, but we are not in an ideal world and there is something called greed that sometimes drives us. Greed is our greatest sin and weakness, what most people did in those PUMP and HODL groups were that they start they buy price at wall like 3 or 4 satoshis lower than the market price, when the price comes down they make a buy but there is always a bounce back like 1 or 2 satoshis higher than the bought price, those 1 or 2 satoshis they receive as a gain every time the wall is being broke down and down, while some people try to hodl the price because they are really into the cause, most of the members of the group do that buy and sell over time making the main cause useless because it hampers the effort of those that are really devoted to the cause.
So what is my advice? If you are in one of these hype trains, get out of it as soon as you see a scape window if there is no escape window then you will have to make tough choice to decide whether wait for a miracle so the price can get bumped again and then you can leave with a gain or not (depending if the bump leave the price on an upper level that you bought the coin in the first place), or you could try to escape in a price that minimizes your losses.
At the end it is up to you to decide what to do with your money, don't take me wrong you can make wonderful gains in matter of 1 or 2 days, but are you up for the risks in getting yourself into the hype train? You decide.
Hi man
Great post, u got my vote, btw, here's my post. https://steemit.com/spanishchallenge/@dayramsazahara/spanishchallenge-17-poesia-melancolia
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STOPMuy buen post! Saludos desde México.
Well written
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