Hello Steemit friends,
i don't know how you feel today but my best guess is a bit uncertain because of the indecisive moves of the whole crypto market in the last days and weeks.
πππππ...
I'm not happy about that situation because i'm human too with emotions and with a gut feeling. This spontaneous reaction is normal and natural and it is no fun! But what can you do in times of uncertainty and pain. My first move is always to talk to myself and make clear: "That's just a feeling, is NOT evidence of reality!" and second carry on.
To get a better perspective a quick look at coinmarketcap.com from the beginning of 2017 until now.
We (You) had a incredible bull market over a the whole year until the market tanked by -60% in one month. The following table is a quick summary of the ups and downs in that timeframe:
| Date | market cap billion $ | factor increase |
|---|---|---|
| 2017-01-01 | 18 | - |
| 2018-01-07 | 830 | 46 |
| 2018-02-06 | 325 | 18 |
For people who were already invested before that timeframe they should show a big smile because a 18-fold increase in about a year is something almost impossible in all other markets like stocks, bonds or metals. But if you were late like myself (first contact in May 17) or you sold too early your coins then you are possibly feel some pain. I think there are many people who regret something because nobody can time the market perfectly (means exactly knowing when there is a alltime high and when it's at the bottom and what coin is the best to invest in.. in one year you would be a billionaire.. maybe 0.001% accomplished that).
I'm so upset now, what should i do?
I can just tell what i do. Often i do
nothing special
i simply continue my daily rituals like reading news in Cointelegraph and Coindesk watchin from time to time in Blockfolio or coinmarketcap.com especially the social tab for news about a specific coin.
(click the links above to reach the websites)
I have also a spreadsheet where i track projects and coins to get a clear view of the development, especially roadmap and i check them at least weekly to know about their progress.
That's boring.. what else?
Ok, to give my general opinion about investing. I'm someone who are mostly in for the long term. There are some exceptions which are rare like:
- SBD peak ($13) here on Steemit i did exchange for some Bitcoin
- accept a failure and selling a coin with a loss (don't regret)
- pump&dump by accident (EOS ICO experience)
But else i buy & hold coins and before that i read a lot about the idea, concept, roadmap, team, company, coin value, other opinions (videos, blogs) until it forms a picture of some certainty for success or fail. Communication channels like Telegram, Facebook, Steemit, Youtube are good to get a sense how they behave (honest, open, deceptive, unfriendly,..) and all that information gives a snapshot in time for me for evaluation. I follow my investment also after my decision and can see if i was right or maybe wrong. It is like a card game. In the beginning many cards are hidden and can be revealed slowly over time to see the whole truth.
Get a clear vision!
Don't get me wrong. I made failures and will make failures over and over again but what i always try is to know exactly why i'm in a project, why i invested in something and if the situation has changed over time. One important rule for me is not to blame myself or others and don't regret a wrong decision, because every decision is based on the available information at a certain moment and situation always changes over time!
If i look here on Steemit it is very clear to me why i came here and why i will stay, to list a few:
rendering by author, logo design by Steemit
- incentivized community for quality content
- meet great people, make friends
- wonderful tokenization for real economic value
- it has enough decentralization to work like a community projects
- uncensored content
- self-determined influence on the platform
- tons of valuable tools emerging each month to make Steemit stronger
- value appreciation of STEEM and SBD over time
- strong user growth expected in coming years
- it has so many options to act in the ecosystem and get a income - freedom!
- you can make a living if you are fully committed to Steemit!
- Powerup on Steemit works like a hedge against market downturns
No wonder why Steemit is my biggest investment currently. It is simply one of the most useful projects in the crypto space in my opinion. Honestly i never used social media platforms actively. Steemit is the first case i did because i see the value. Everything can and will change over time but that's my view currently and i will watch and also design the future of Steemit. Wonderful, because it's also my company now!
Conclusion
If you have a chance to look at the fundamentals of a project, a coin.. the usefulness, the real value behind.. and that needs some time then you will not panic, you will not run away if the price drops -10%, -20% or -50% or more.. you will stay patient because you know it is just a matter of time til it rebounds. I had my doubts from time to time but then i looked always at the real value, the working product and i instantly calmed down.. quite simple, just stay away from FUD (fear, uncertainty, doubts) in the media. We saw all types of that in the last months against cryptocurrencies and it will not end.. sometimes it's a pain.. and my reaction was to create memes like that..
..but if you know THAT THING IS UNSTOPPABLE! you'll WIN!
I hope my post could warm up us for a exciting 2018 and to never loose faith in a bright future of cryptocurrencies!!!
What is your gut feeling at the moment?
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see also my other posts
Exciting times ahead steemit friends!
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thanks for your post, it is very important to know about this new world of virtual currency since it is the future of economic transactions, many think that a cryptocurrency is nothing more than a scam but in reality the cryptocurrency is the economic future of our nation and of all the nations of the world ... Greetings ;-)
to the point! Sometimes i would shout out to the world.. IGNORE THE FUD!.. because it's a marketing machinery by people who feel threatened and they act very smart to create fear and uncertainty among people.. but if someone understand the enslavement by the current system he or she is cured instantly! We should teach as many people as possible, thank you!
thanks for information on steem community and crypto world market βΊ
@onetin84, Exactly more interesting cryptocurrency summery you shared. Appreciated one. I also disappointed with current crypto market. Oneday green liner market had also next day red liner market had. I don't understand what to did? But I believe about cryptos. Not only whole tokens. I have favorite tokens like as steem, BTC, ETH, XRB and NEO. I know crypto will start unstoppable gain in future. We need to patience. This is a time for buy dip and keep hodl. We can earn more earnings in future.
Thank you, you speak truth, patience is a virtue which helps a lot in such times. It's simple but not easy. You mentioned some big coins, BTC and ETH are useful without a doubt. XRB is interesting and with NEO i'm not sure, because i did no research. What is your main reason for NEO?
thanks for sharing. Your advice and knowledge about steemit investment is very useful. I was afraid of the price charts that are less stable in a few days. but I'm sure everything will be fine. and I hope I can invest long-term in steemit.
it's always funny how we react to short term fluctuations, i'm victim too because we have so much time to generate thoughts and emotions in a year that it could be overwhelming or can trigger us many times to act in bad manner.. i think Steemit will doing well in the next years. Zuckerberg is thinking about such incentivization models.. it will be interesting what other platforms will do.
what i have learnt from my experience is that the more the patience we have the longer the chances of growth its all about patience here correct me if i am wrong
oh yeah, i think that is something which is not in the nature of many people from the beginning. Time, especially years are such big timeframes for us and especially men always tend to act and in many cases not for their own sake. π
If you look at such people like Warren Buffett (love him, hate him, it's not my point) with his tremendous patience over decades. He demonstrated what happens if you stay strong in times of uncertainty. There are many studies of buy&hold strategies and in almost all cases they were the most successful.. so i did a post long time ago what would happen if i would sleep for 10 years from now.. i think it could be true beside the funny side of the post.
good to hear about other peoples experiences and human decisions in investing.. it is always a great rule of thumb to buy and hold and that is what I am trying to force myself to do!
it's simple but not easy.. yes, emotions stand always in our way.
I am very happy to benefit from your experienceΨΨ good luck my dear friend @onetin84
Thank you, always looking forward to your next post!
i didn't invested in that phase but still i have the smile because steemit helped a lot along the way to discover joy for me
the truth, Steemit is rock solid in times of uncertainty. It is backed by real developers and a big community!
Don't you worry man. If you have invested your time and efforts in it believe your inner self it won't let you down. Not today but tomorrow maybe a month or six months later but have faith, Everything will be fine at the end that's what i believe.
That's a good attitude man! To be honest i'm often on the more sceptic side or says i'm more a realist.. which contains much optimism too but with a grain of truth and facts. Thank you.
This time has to come but we are more lucky than others because we have steemit and specially steem beside us :D
That were my thoughts. Steemit is partly disconnected to Bitcoin ups and downs and works like a safe haven. Thank you!
Yup the -60% fall is just because of the bad news that Korean exchange are banned it lead to a big downtrend ..... But if a bad news can affect this much that same thing can happen when a good news comes .....fingers crossed hope the market becomes stable !
yeah, that is the rollercoaster effect of cryptos! It is sometimes quite crazy to watch these movements especially if they contradict the news.. i say then to myself "what the hell is going on here!?" and just smile π
Your recommendation and information about steemit venture is extremely valuable. I feared the value graphs that are less steady in a couple of days. in any case, I'm certain there is no reason to worry. also, I trust I can put long haul in steemit.
i can tell you as i started last year the price for STEEM was around $1 for a long time and i made my biggest investment in Steemit for the long term. I talked to many people here which were here from the beginning, asked questions out of curiosity or doubt and over time my confidence in the platform grewed because the signs are good that Steemit will grow further (registrations tripled since my inception in mid 2017).
But there were especially in the beginning times of doubt where i disciplined me not to run away and built a strong belief in Steemit.
@jerrybanfield made a price prediction of STEEM of $10 months ago and i was sceptical and asked him what he had in mind to come to this conclusion.. but he is very busy and i got no response.. I made my prediction of $5 and luckily it was a good prediction but more surprisingly STEEM stands very strong in the last dip which confirms the independent status.
Most important everything needs time, especially in the real world, a project, a company with the people behind. They layout the foundation and it takes often months or years until success. Lessons learned from my own company and the experience here on Steemit. I'm in and expect exciting times!
Thank you!
People are starting to use this virtual money everywhere. Soo enough, this market will be the permanent market for a long time.
like your perspective! It matures in me that usage is the most important thing to get the opportunity for a new monetary system. WE MUST USE CRYPTO to confirm the value and to abandon exsisting money for enslavement. Thank you for opening my mind again.
Thanks to you for evaluating my perspective. We must work together to build a better world.
Steemit is the place to stay and do everything to power up it is the best ROI possible where ever you see :)
currently that's the case in my point of view if you are a creative or just put some capital in or both. For me it's about the many options.. i love the ecosystem, yes i think that's the right wording! Thank you!
lets not predict about the future which will happen after 5 years
lets live in presence and take out of cryptos to the fullest @onetin84
the more we use crypto and live in crypto the more we get out of it, yeah, nice thought! But beware of the trojan horses for further centralization like Ripple and Stellar. That looks not good for me and is backed by huge amounts of fiat money by banks.. sadly also by people who speculate with these pseudo cryptos.
excellent post ..loving to your blog.thanks for sharing..
thank you staying with me!
gteat stats...... thank's for sharing..about the most impotant community..steemit..
love it.
STEEM ON! thank you!
Your information seriously more informative to us. Actually cryptocurrency giving to more opportunity to bright their future. I never think crypto doing our life fail. Thank you for valuable discussion.
Great job...Thanks for another important info..thanks for sharing...
thank you for visiting my blog!
Good job Sir... informative post..
Thanks for the share
Upvote
i will always support you man!!!
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I am a new steemians, maybe i should study first with you, regards know me..
Thank @onetin84 for making this valuable post! you have given some insightful positive thoughts. So the long-term or middle term investment with patient would be the great console.