Road To Wealth: Having A Great Slugging Percentage In Cryptocurrency

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Chamath Palihapitiya is one of the most recognized names when it comes to investing and Wall Street. The current CEO of Virgin Galactic is a tech entrepreneur and investor who is garnering more fame with each passing day.

He was one of the first senior executives at Facebook as well as the founder of Social Capital. His decisions regarding investments and the outlook on the future are followed by many.


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One of his greatest calls was purchasing 1 million Bitcoin in 2012. This was a move that, alone, could have sent him into the elite. Of course, he involves himself in so much more. Most of his decisions regarding money making revolved around the technology and how it will impact the future.

For years, he was a big proponent of Tesla. While everyone else was bashing the company and Elon Musk, he saw the vision. His approach was to ignore the style of Musk, which rubs a lot of people the wrong way. Instead, he saw the opportunity to change things was being picked up by Tesla. Disruptive companies often come with a "few warts". That does not mean they will not be successful.

Highly intelligent, disciplined, and long-term focused are characteristics that apply to Palihapitiya. What is not part of his make up is reckless. This is an important distinction to make considering his approach.

Buying 1 million Bitcoin 8 years ago would have been considered reckless by many. After all, most investing systems talk about the idea of diversification and sensible money management. Yet, Chamath Palihapitiya is one of the top investors in the last decade.

What gives?

Many like to use the baseball analogy when looking at investing. They discuss the idea of having a good batting average. This means, hitting on a certain number of trades/investments in relation to the total. For example, one might be right 7 out of 10 times. That is a .700 batting average.

Palihapitiya opts for a different way to focus upon investing. Here is a tweet that basically sums up what he believes.

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Here is an approach that ideally applies to cryptocurrency. The reason for mentioning reckless earlier is because we all are aware that crypto is full of scams and misdirection. One cannot simply jump into the next hot thing since there is a chance it is nothing but a mirage.

However, as is shown in the tweet, knowing something fully is the first step to massive payouts. When one goes "all in" (if necessary), it can be enormous.

They have a saying in Texas: Go Big Or Go Home. Here is a simple way of thinking about this concept.

Another view is to look at the world of cryptocurrency as a way to change one's life. If one is correct, does he or she not want to have enough stake to have "life altering money"? Certainly, this only makes sense.

Again, this is not a promotion of the idea to just throw money around like we are in a casino. Research, inquiry, and continual follow up is required. One needs to understand all the ins and outs of a particular project. However, once that comfort level is there, establishing a large position could pay huge dividends in the ensuing years.

Which brings us to Hive. What is your position in HIVE? It is only logical to begin by asking what is your belief about it? Obviously, if you are not confident about what is taking place, the second answer is self-explanatory. There is no reason to hold a large stake in anything one does not have full confidence.

However, if you are one who does view the future of Hive brightly, and think there is a great deal of upside, then how are you positioned? Will HIVE pay off in a way that can alter the financial future for you and your family? For example, what does $4 HIVE do for you?

This not only applies to Hive itself, but also what is being constructed upon the blockchain. Do you see a future for Splinterlands? If so, will the cards you hold result in a serious windfall if the user base grows by 10x?

The batting average approach of investing presumes that one is not going to be right all the time This certainly is the case. However, using Palihapitiya's concept of slugging percentage, the idea shifts to having to be right less often because when one is, it really pays off.

From this perspective, having a few different cryptocurrencies could be all that one needs to focus upon. For instance, one might opt for 4 different projects he or she is following. This is where all the resources, both financial and otherwise, go in an effort to cash in when one (or more) does succeed.

Obviously, a platform like Hive provides the advantage that we are able to influence the returns received through out activity. This means that we are able to accumulate a larger stake by participating in the direction of things. This is how people like Bezos and Musk amount such a fortune. Not only do they have large holdings but they also are steering the ship.

Cryptocurrency is the opportunity for those who do not have the financial resources to amass a large stake in traditional investments like stocks and real estate. A few big hits can set one on a completely different path. Naturally, one needs to expect putting in a few years before the breakthrough happens. While it can be quicker, it often is a slow grind.

It is my experience that a couple homeruns can really pay off. Obviously, for Palihapitiya, it already has on a number of occasions.


If you found this article informative, please give an upvote and rehive.

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I am very confident about LEO!
HIVE? Not so much anymore.

Why are you not so confident in Hive?

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DPoS has a big problems with voter apathy.

This means the whole proposal system is not working properly and it's there just to get out as much rewards as possible. For example @netuoso was getting so much money from the proposal system even though there is no activity of him doing anything.

That's not good. Also the power-down period is too long.

The connection between belief and investment is fundamental to steering any investor through rough waters and wonky markets.

The batting average and baseball stuff makes a great analogy. I'm liking the questions you're asking. And it's making me think.

Q: is there anyone on Hive or in @eoFinance writing specifically for newbies in crypto? People on Hive I should follow who are pitching (baseball intended) their content at rookie investors?

Nice post.

I am not sure who is targeting newbie crypto people in particular. I did some Trading 101 videos that covered some basic ideas of trading.

It could be an interesting area for some to focus upon. Leopedia is stacked with some articles that deal with basics of crypto but I am not sure how much of it is general information.

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Nice to know that investor and I think it is 100K bitcoins (not million).

That's the difference between speculative investment vs investment. That's way gathering information and futuristic vision is very necessary.

Yeah that would make more sense that it is 100K than 1M. I came across it quoted as a million in an article. I should have thought that one through.

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There are so good investment options in Hive, you have LEO, SL, EXODE and will be more for sure. You don't need to hit a home run everytime, you only need to hit it once to make good profits. In the long run Hive will be a good investment for the development of the proyects that are going on, as blogging plattform isn't the top choice probably you could make more money in others, but from a technologic standpoint is a TOP blockchain IMO.

you are gong to be a legend ...

There are some real truths in there and usually we get involved in things that we believe in, like HIVE (I am from 2017 on it) and LEO (started few months ago and I still wonder how I didn't know about this community). Now from here to go all in even if all signals are in favor of this depends of appetite of risk of each of us, even at some point it might seem to be quite low.

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This is one of the best you've written so far for me. I believe in the concept of hive, the opportunity and the potentials it's got despite the fact that it's got areas that needs improving. I'll largely say I believe in it hence I'm invested here quite well. Truth is, the future of some of the project on hive even gives me more assurance and $4 hive for me will guarantee the type of financal freedom I want.

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It’s tough to believe in something others don’t. But being on the right side of a trade is magical.

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No doubt that cryptocurrencies are an excellent path to wealth. Of course it will depend on how it will be invested even with nothing to start with or even a big capital to start having fun.

Through Hive we realize that these opportunities arise mainly for those who have little or who do not have money to invest. We are privileged to be able to be here and building our goals. The real keepers who will be here for years will benefit a lot from their rewards.

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Go Big Or Go Home
This is my learn of the year, thanks a Lot, but, my refery in the world of finances I prefer Jordan Bedford the wolf of wall street did you know him, well this man do a lot of money thief a lot of people and enjoying the life.
By the way we hope hive go very hight.

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Your current Rank (29) in the battle Arena of Holybread has granted you an Upvote of 22%

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Bang, I did it again... I just rehived your post!
Week 24 of my contest just started...you can now check the winners of the previous week!
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that is all true and he does have vision

but unlike most of us, he has the wealth to miss a few and not suffer from it, what is one million more or less when you are at that stage. Most of us are still slugging along without life-changing money.
I am convinced he is right about crypto and btc but its taking a long time :-)

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Indeed, never buy anything you're not willing own, if necessary.

Hive and LEO = Perfect match.