This may be a bit too honest but maybe also helpful. Today I really want to talk about my direct experience with Bitcoin and other cryptocurrencies as I have learned about them all over the last (almost) year. And I want to emphasize this is coming from a non programmer/developers side and also someone who is not an investor (I wish). I really want to know what other newbies have learned and experienced by telling my story so far. Or what experienced blockchain users/developers think because maybe my focus is in the wrong place. Well here we go...
Go back to January 2016 and I just learned what Bitcoin was and I bought exactly one, and I got it at $508 Canadian. Right after I purchased my one coin it dropped in price...about $100. This was my first experience with purchasing something with a volatile price, or at least what I thought was volatile at the time (I didn't know about other crypto markets yet). But I was going to hold my one little coin for the long term even though I was choked about the drop. This was my first moment dealing with emotions that come with trading, I wanted to sell my coin back in fear of losing more but I didn't! Don't get me wrong I know it is not a lot of money, but for me at the time and even now, it is. The price was basically my rent.
Why I did it sell even though I got a bit nervous was I just wanted to get involved. Having that coin made me hopeful and excited. That I was part of some new movement. I would tell people about it and even if they didn't understand I felt like I had this amazing thing that represented all these new opportunities and ideas. I really truly felt like I made a good choice. Unfortunately I needed the money a few months later and had to sell half of it.
But wait what? There are more block chains and different coins?
This blew my mind. Soon after I began researching other blockchains coming out and what they could potentially do, is when I found Ethereum. Smart contracts, the Dow, what is all this? I learned and came across it all right after the price went up, which happened really fast compared to Bitcoin. That was the first time I felt like I was at the right place at the right time but still missed the boat. I didn't feel like that with Bitcoin at all, I knew where it had come from since 2009 and was excited either way. I may sound like I am in this to make money, and I am because like most people I am excited about the opportunity. Ehtereum was my first lesson on deciding to do my research and stay current with new ideas, coins and projects when they are starting. I didn't want to have something that I thought was great pass me by and not know about it again.
Well that didn't work... I finally got onto trading sites after Monero blew up and I have missed the boat ever since. This sounds doom and gloom but it is just what has happened and has been a learning experience. Every time I don't pay attention for a bit something big happens. I am only looking at a year and who knows where any of this can go but I feel like I am constantly running behind. Its also a little more tricky when you don't have much money to transfer into crypto trading and investments. I added myself to trading sites but couldn't trade with my sacred one (now half) Bitcoin because I told myself I would keep it.
But then Steemit happened for me, I wrote an article and did very well on my first one. I was ecstatic... I watched as I got more and more votes over and 24 hour period and was thrilled. My boyfriend couldn't believe it either, this was the first time since getting that Bitcoin I saw that opportunity again. It re lit my crypto fire and I was so intrigued at the idea that you could make coins by creating content people liked. I was like whaaaatttt? Actually though. I began getting involved in the #steemitphotochallenge, posting my own photography work, and about a month ago started posting Before and After how to's of how I edited my photos. I have been a little MIA lately though and I must fix that immediately. I still think Steemit is awesome and I always tell people and get excited about it.
Here is where I think I messed up though and got discouraged... I was brave enough and was learning enough I decided to try trading cryptos, you can get really caught up in that. I thought well I could turn my x amount of Steemit to Bitcoin to whatever into more Bitcoin. Well lets just say holding what I had with the price of Bitcoin today I would have been better off just keeping it like I initially intended. Being on those trading sites I got a bit greedy and was still too uneducated on it, and believe me I was not dealing with large amounts. But the bit I had that was important to me... I lost a decent amount of it. It also became more about money and less about why I liked the blockchain technology in the first place, because I believe in it long term and what it can do. I wish I would have left my Bitcoin and Steemit alone, but hindsight is always 20/20.
I haven't fully decided why I am telling you guys all this, but I think in under a year of learning what Bitcoin is, to following cryptocurrencies, to trading them I have learned a ton. What I want to do, what I don't want to do again, when emotions get the best of you, and why I am doing this in the first place.
The picture above I took when I was photographing a cottage by a lake just recently, I just felt like it was appropriately calming. I am not sure how I want to be involved with this anymore, but I want to be. I don't know how other newbies and non programmers/developers feel when they get into the crypto world but I am curious! And where to go from here? Besides post and support Steemit of course.
All the love,
Kristylynn
p.s. Steemfest looked awesome, I hope there is another one...
My suggestion is to buy and hold just a few coins that you really like the fundamentals of, instead of actively trading. Active trading is very time-consuming, and it isn't worth the time unless you're handling a decent amount of money.
Totally agree and understand now. Good learning experience but time consuming is right! Thanks @blocktrades!
Thanks @kristylyn I think many here have had the same ups and downs... but some good for you on this Friday eve, check out https://www.xbtfreelancer.com/
As a photographer you may be able to earn those bitcoin bits.
Thank @kyusho! I will check it out now. :)
There is many great projects, I always think rather than making money I invest thinking in not to lose money, that saved me many times.
Research a lot and then shoot!!!! Be aware about this, someone calls to buy because he wants to sell/others call to sell because they want to buy, research the project that you like and bang!!!!!
Yes I agree, find projects you believe in and stick to those. I totally agree with that and will be more focused in that direction moving forward. Thanks for the comment @ozzy-vega.
@blocktrades is right, it sounds like you got caught up in the trading side of crypto, and for 95% of people that's just a way to spend time losing money...
Of course there will be another SteemFest, hope to see you there!
Yes same! You went @demotruk?
Indeed I did. Great fun.
Thanks for sharing your experience! You have a new follower :)
You too @future24!
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Thank you for sharing, Kristylynn. Trading is just one side of cryptocurrencies and just like trading other types of financial instruments can be extremely stressful. I hope you find out how you can still be excited witin the cryprocommunity and keep it on the positive side. Steemit looks to be a good outlet for that :)
-Anders
I agree! Steemit is. Yes lesson learned, I am glad I have experienced it because now I know. Thanks for the comment @nevergrowupmag