A rising Tide Raises ALL ships and All Wreckage
Hey Jessinvestors
I tend to think I'm rather naive when it comes to the world of investing and money oh and people, the only thing harder to understand than financial markets has to be people. If you think stocks or crypto is a volatility trade, people are the most volatile trade of all.
I tend to dip my pinky in and listen to what people are saying on the ground so I can get a feel for consumer behaviour. Learning how a lot of people think, especially in a sheep were driven society means you can place bets on certain conformist behaviour.
I try to be a contrarian as much as I can without trying to bullshit myself, and it's hard because we can never realise what we don't know and the vastness of what we don't know. We all live on sample data and think that's how the world works.
Money has no morality
Bitcoin is by no means perfect money, and it surely doesn't attract perfect people. There are quite a few who have been gassed by the price to think they are financial geniuses and walk around with a chip on their shoulder and carrot up their arse.
In a world where we base value on numbers and not impact the price of something regardless if its priced on merit or not gives people a sense of bravado. They have been vindicated; they won, they were right, regardless of the time frame; at this moment, I made the right choice. Therefore, I am superior.
The same thing will happen with altcoins once their run starts and so for a small set of time, many will feel like their choices were right even when they are wrong. We can see that from the previous bull run, and the 40-year bull run of the stock market that has seen everyone and their stimulus cheque jump into investing.
The Dunning-Kruger investor
The Dunning-Kruger effect is a powerful market force; when retail comes in, be it into passive funds or active trading, and the market runs in their direction, they feel no need to research. They feel they already know it all and don't know what they don't know.
They may even outperform professional investors in the time being, but one moonshot or good call doesn't make you a great investor. As the tide rises, it lifts ships and wreckage alike, and many cannot tell the difference.
The fact is many people are betting on the wreckage and don't even know it yet, because the tide continues to rise. I am starting to see a lot of shilling, and people are falling for stories in crypto rather than thinking for themselves, and it's going to see them get hurt.
I feel it too I also fall for a good story, but then I try to take a step back and combine that with additional research, it's tough and I get why people don't do it, but as with every investment, all that glitters is not gold.
Have your say
What do you good people of HIVE think?
So have at it my Jessies! If you don't have something to comment, comment "I am a Jessie."
Let's connect
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Posted Using LeoFinance Beta
@chekohler, Human behavior is so volatile and dynamic that it affects every other aspect of life. Stay blessed.
@nickyhavey don't we just love a generic statement masqueraded as an opinion
Appreciate this sarcasm, no thought is generic because every word and every alphabet releases meaning. In these times it's important to spread little encouragement instead of pushing down. Stay blessed always.
I disagree, so I ask that you refrain from commenting on my posts if it's just going to be empty retorts! There are plenty of other bloggers you can go and spam
That's ok. Unfortunate to see that you are quoting someone's genuine efforts as spam.
Good wishes from my side.
Lol pretty rich from someone who spams all 3 chains daily with content no one bothers to engage with
That's absolutely fine. I have a right to survive in this world and for that i will put extra effort no matter if anyone is interested in my work or not. Stay blessed.
Lol, the ideologies of a leach will always find some justification. I don't care what you do just stay away from my posts with your senseless comment farming
It's no comment farming, it's your individual perspective. Stay blessed.
I don’t want to be blessed just like I don’t want your empty comments on my posts!
👍
One of my favourites!
Lol I actually bothered to check out some of his posts, if unwatchable and cringe had its own Sundance, he'd be killing it!
You can also swim to the coast on the wreckage;))
Posted Using LeoFinance Beta
Lol but aren't we already doing that? Getting by only on our labour without much help?
If I had a lot of money right now, I wouldn't be buying any coin other than hive (BECAUSE IT IS DOWN THERE ALREADY) and Leo because they are like to only two crypto projects relatively good information on, and I find them useful. The rest is just beautiful shinny nothings
There will be wreckage at some point. The time frame I cannot tell, no one can, we all make calculated guesses, but they are what they are--guesses.
What I would like more than anything is for the narrative to change from Bitcoin price to something different--development-wise.
Posted Using LeoFinance Beta
I wouldn't buy either of those coins if I had a lot of money, Bitcoin is it and I'd actually go pick out a few stocks instead and then some precious metals, maybe even some private equity
If you look at the spread and liquidity of the order books on most of these alts they the roach motel you can check in but you can't check out at high volumes so you. Moving up a few % points doesn't mean value, what is the value is the level at which liquidity can consistently be maintained and neither of these coins have that.
Bitcoin has it to an extent but still nowhere near enough for big money trades to be settled at speed.
Why do you want the narrative to change? and to what would you prefer? I see nothing wrong with Bitcoin
If I had a lot of money, then money technically would not be my problem.
I understand that there are people driven by money and the love of money, but for me, it's just a means to an end.
So if I had a lot of money, I would invest in a project that adds value to people.
What can I do with Bitcoin? Hodl? Maybe lend? Then what?
I want the narrative to change because there is more to crypto than bitcoin price. When you think about Tesla today, the first thing that comes to mind is innovation. What's the first thing that comes to the average individual when they think about bitcoin? Bitcoin still doesn't appeal to me,. If it were the only crypto, I probably would have no interest in crypto. I don't hate it. It just doesn't interest me,
Posted Using LeoFinance Beta
I would disagree with you there if you had a lot of money then a larger nominal of your retainable earnings would be lost to inflation if you say sitting on 100 mil and you losing 10% to annual inflation it’s a 10 mil purchasing power loss which is huge compare that to the guy with 1000 bucks a 10% drop isn’t really that big a deal
So for big net worth it’s even more important to protect your purchasing power
When you HODL BTC you’re effectively funding the growth of the entire ecosystem and getting a nominal reward for your confidence in the network! It’s already won this race and nothings going to beat it! Money is meant to be stable and predicable and boring and secure
Comparing BTC to equities is silly it’s like comparing equities to bonds they a different asset class
I think it’s also unfair to say BTC isn’t changing lives when it’s the biggest network that without it none of this would be here today!
Just because everyday a few people post about how hive earnings help them out doesn’t mean anything if BTC wasn there to fund this entire thing and allow liquidity to pass through its network
If you look at the volume BTC does in a day it’s twice the market cap of HIVE! And besides how do you think capital flows into HIVE? Via BTC so in fact BTC is the project changing the world and is the project responsible for those people to cash out their rewards into something meaningful
As for Tesla yes it’s a narrative of innovation but it’s way overvalued will never hit the TAM IOT future earnings the market is pricing in and is widely overvalued! Elon is doing great work but even he knows Tesla is overvalued even with a 10 year projection to bring down the PE ratio to a reasonable range is impossible so it has to crash
You could have titled it "the chip and the carrot" :D
Guys stop FOMOing or you'll get hurt as he said.
Do you research, choose some project you really think have a bright future (not only tomorrow but in the months/years to come) and start dollar cost average it !
Posted Using LeoFinance Beta
Exactly and that's why you see so much shilling if what you picked was the best project you'd not need to shill. But people will take massive positions and be stuck with coins they can't sell without tanking the price so they shill to try and get someone to assist in deleveraging them from poor decisions
Yep a Ponzi-like scheme. At least if you fall for it, put a hundred dollar and enjoy the show, it won't hurt much.
There are some really good projects already there, just sticking to these with regular buys should be enough to provide good days in the future.
But sure if you want to do a +300% this month you'll have to take some risks and certainly not always with the best projects in town.
Posted Using LeoFinance Beta
That’s where I am a bit torn yes there are good projects but the upside is based on way too much potential network effects for my liking!
I do have a few Alts that have shilleds behind it and I’ll be happy to dump them soon as alt season comes about I don’t believe in my of these projects because I think that to offer a return that beats BTCs annual increase in the hurdle rate is too hard and not worth the risk
Once BTC reaches a more mature phase we’re volitiily is pegged down abs let’s say it flucates 10% range with a 2% annual increase then sure I’ll look to Alts but right now I can’t see anything that I really believe in yet apart from BTC
Goddamnit ! replying to myself :D
Posted Using LeoFinance Beta
i think throughout mankind that's a thing! We are greedy by nature and it's for someone to manipulates as taking advantage of this!
Posted Using LeoFinance Beta
Lol that’s so true the easiest person to manipulate is a greedy person, they are ruled by desire and instant gratification the feeling are already there all you need to do is provide a good story to latch on to
It’s why less people invest abs more peopel play the lotto, rather 99% chance of losing with a 0.0001 chance of winning back once than compounding 8% a year and building income streams slowly
Very true indeed
Don’t go with the trend, do your own research before betting on anything. And most important thing, don’t blindly follow anyone.
Exactly I see so many people investing off the backs of what YouTubers or saying or random shillers are excited about, to those people I say good luck and if you lose yourself money I hope it’s a lesson well learned. All this speculation eventually filters back into Bitcoin whenever a shit coin dies so I am happy to stack my Sats
When the marketiss bullish every thing even a shit coin also so move in uptrend... but the only with good research left in the end...
Its a total gambling mentality instead of doing the research put money into as many coins that shout a lot on social media and hope you;re right lol.