I also saw today that Bitconnect appears to be ceasing it's operations. For me, this is just the nature of Multi-Level Marketing schemes. Pretty much all of them go belly up with a whole bunch of people who jumped on late losing out. I just hope that anyone who lost out was able to offset that with gains elsewhere or (if not) they only invested what they could afford to lose.
Despite all the warnings and red flags, people still chose to do Bitconnect. I don't just understand why.
I pray they recover from it.
If you're a HODLer than what I'm about to say won't apply to you. However if you're someone, like me, who likes to hedge their bets and take profits occasionally then it's important (in my view) to do so strategically rather than °emotionally. On days like today it is easy to make a decision (or not execute a strategy) based on emotion.
Very good tips. In a volatile crypto world, this should be a safety switch without allowing emotions to cloud your sound judgement.
There is no sure thing in cryptocurrencies, no-one knows what the true valuation of this technology will be. However it's better to get involved in a protocol that you believe in. You're more likely to be steadfast during the downtimes and if cryptocurrencies are indeed over-valued at least you were involved in a technology that revolutionised people's lives.
Another good advice.
Steem is a good example of this type of protocol you're talking about.
Thanks for this wonderful posts with good tips.