Focus for the long run
Hi,
I've had a long discussion with a friend today. I'm on a longer trip trough Europe for this week and use the chance to meet with old friends and acquaintances. Also, I try to close some long-lasting open issues.
So, today I've met with a friend who usually likes to jump from one opportunity to the other, as for him this is the way to richness. I've never experienced him holding to a project longer than 6 months.
He jumped newly into crypto. Well, he was in 2017 and 2018 into crypto, made a fortune, but lost most of it when the bear market started, called it a ponzi scheme and look, now he is back at it, riding every DeFi wave. I've told him, that I find this approach very dangerous, as a lot of the DeFis are scams or bubbles that go fast to the burst phase.
Compared to him, I'm a hodler turtle. I've started experiencing DeFi, only at the launch of CUBdefi.com, which I'm glad I've done. It is still my only DeFi project, as I'm not giving this up, even if the coin value is 3 times lower since I've bought into. On the long run it will recover.
We took the laptops out and did an analysis on the profit. This year, he blew my numbers from every aspect of it, as I'm slow and don't jump DeFis for the sweet return at their start. Taken the total growth from 2016, I had a fair advantage, as I have coins like BTC and ETH that have gained a lot in value for example. I like to have a long term vision.
Not that I'm not open to new opportunities, as I like to diversify, but I like to solidify each position, so that it matters in the long run.
After I hit a target, I move to the next one, building one step at a time. Yes, priorities can shift, but the targets still remain.
Now I'm focusing on building my CUB-BUSD LP, which I will probably will hit in two weeks. Then I will start working on the CUB den, even if now it does not seem to bring such a good return. I see it as an opportunity for the next months, where it can recover and even grow to 10x as to current value, only patience is needed.
I have a small fund for fast flips or opportunities with a low buy in value, but this is another story as it covers 1%-2% of my holdings, where at my friend this was at 90%.
How do you see it? Are you in for the long run or for the quick buck?
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I think those get rich quick tend to drop back down fast. They follow the hype and they think every dip is to buy in the stock market. So I plan to be here for the long run so it means my strategy is different depending on what I am investing in. For Hive, Cub, Leo and BTC, I am in it for the long game. For the stock market, I follow the trend and manage my returns/risks for my trades.
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Personally I feel that HODLing is always the safer option.
But if you are using a small percentage of your portfolio to earn a little extra, then why not.
Seeking fast returns is always a risky game whatever way you look at it but sure look its each to their own I guess.Lol.
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It has been statistically proven that it is the safest option.
But most people like to be in movement and chase shiny things 🙄
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Thats very true indeed, I'm I no longer chase those shiny things Lol
I am more like you than your friend.
I am in it for the long haul.
I have been slowly stacking coins since about 2015. Sadly not enough :)
Cubdefi is also my 1st defi. I don't do any others.
I find it best to not pay attention to how much FIAT my crypto coins are worth and just continue to stack them.
It is still early and no reason to try and jump ship.
Ask you friend if it was better to sell Amazon/Google stock in the early 2000's if you bought in late 90's or hold until today?
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I understand also his view... when you have not much to lose, you can do crazy things. Personally, I want to create a legacy with my crypto portfolio, a chapter in my personal history. This is why I'm more like you, a crypto turtle
Hello 👋,
Thank you for sharing this experience and view.
First of all it is great you and your friend stayed connected as it seems you live far away from each other.
I think I am unfortunately in between you two. I have moments (it can be months or years) where I hold to a project or a vision.
And from time to time I have some eagerness to « move » and I start jumping from one project to the next and usually this does not end well.
I have also been dealing with an « addictive » issue that I will share more in details soon.
As I have stopped this behavior I fell healthier and so much more relaxed 😌. I need to keep temptations away hehe 😉.
See y’a mate !
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I'm very much with you on hold for the long term and 'dollar cost average' in, but i'm more like 5% to chase the shiny new.
That 'chase the new defi' platform strategy can be very profitable but it takes constant monitoring and is stressful.
Now might be a good time to stack a bit more cub come to think of it, and Cub BUSD isn't a bad pool to be in if you think the price of cub is going to rise!
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I think you have to have a long-term plan, one set financial goals. When you fulfill them you go to new and fresh pastures. Also it is necessary to have an amount of liquid to take advantage of opportunities "The opportunistic bottom".
And finally have the backing, in case everything goes to ... and thus be able to survive.
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My wife has an acquaintance like that who is always jumping from one thing to the next. She recently started messing around in DeFi on the ETH side of things. Putting probably all of her savings into it. It's sad to think that at some point she was doing better than me with her 3 months of investment versus my 3 years of investment. I know that she will end up getting rekt though. Perhaps not by her current platform, but eventually she will move it to the wrong one and that will be a sad day for her.
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I have a friend like that as well. These are the casino guys.
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Yes, real good said, casino guys, real good said. I need to note it down.
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That's how my friend is...
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I think that the defi are in their initial phase, like the popular altcoins that we see now, and perhaps in 2 years will be more profitable to invest in them because there will be more controls and more intelligence on this subject.
And maybe whoever has a lot of shitcoins will be a millionaire.
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