This weekend I really got an earful...
I've been promoting STEEM and my Bitcoin Bully training site since the beginning of the year...And where I do most of that is on other social media sites. I'm also telling my closest friends about how much I believe in crypto and the STEEM blockchain...And I had their attention when things were sky rocketing!
In early 2018, you could do no wrong!
Prices were at all time highs and it seemed like whatever you throw money at, you'd be in the green and on your way to the moon....
Then, the markets took a dive and in all honesty, are still in free fall mode.
So of course, I start to hear it from my friends as they send me memes and graphics like this...
(I was tagged in this one and laughed at lol)
And as recently as tonight via an Instagram private message...
And I get it...People love to kick you when things are down....
My friends are just pulling my leg and I get that they are slightly ignorant to the entire crypto revolution. However when you 'get' what this stuff will mean in the future and how this isn't just some crazy fad but an actual change in well....EVERYTHING...You get really excited.
And that's what a lot of people don't understand and why as low as STEEM and other crypto currency goes down, I'm in accumulation mode!
I said at the beginning of 2018 that regardless of price, I'm going to get as many coins and tokens as I can and now that the price is low, I'm actually getting more...In more ways than one...
I'm actually generating more STEEM and STEEM Power now than I was when it was at all time highs...Not only does my dollar cost averaging really start to pay off now, but the way this blockchain is set up..I get MORE crypto for being active. There are less people producing content when things get slow and more of the rewards pool to go around.
This is something newer crypto enthusiasts need to understand...You are are still 'getting' the coins at the low prices, in fact you are getting more of them. So for me...I could care less what the price is...I'm in 'get coins' mode :)
What the price is or is not, doesn't make me bat an eye because I'm thinking of what these projects will mean for us in the next few years. People need to stop thinking 'Bitcoin is worth this much' and start thinking...Bitcoin is worth a Bitcoin. It's a tough thing to wrap your head around, specially because we've been tied to fiat and put a value on a dollar...But when you understand that the price of the coin isn't what is important...It's the actual coin or token...You finally start to see what makes the early adopters of crypto so excited.
Remember, this isn't fiat.
You can't just 'print' more crypto....So once it's all mined, it's gone...So for the next year or two I highly recommend you to be in 'accumulation mode' as well!
Posted from my blog with SteemPress : http://plus1daily.com/when-people-understand-what-crypto-is-they-dont-care-about-the-price/
People really do like to kick you when you're down. It seems even more so with crypto because the media bashes it so constantly that if you're ignorant to the value and potential value of cryptos... you'd have to be a moron to buy any tokens. But if you have any idea of where this could and WILL go at some point with some of the tokens, then you take the time to find projects that are likely to do well, and you invest when the prices are low. Steem is a good place to start. I haven't seen prices this low before, so it's a lower point of entry!
absolutely. and i’ve never seen them like this either and i feel i missed my opportunity to get in early on steem. now is the time for people to believe in steem to have their second chance :)
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I ended up getting into crypto at the wrong time, so I'm HODLing a lot, but I think it will come back eventually. In the meantime, I like Steeming so I can earn more crypto. And the low prices make it a great time to get Steem. If I could only be more disciplined and come up with a plan to buy crypto and then carry it out instead of just running to the coin store as soon as I've got a few dollars. Ha ha.
oh for sure. i just dollar cost average. so every week i’m just buying a few. no matter what the price :)
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Quite right
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I tend to not hype cryptocurrency but rather hype blockchain technology
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yeah. it’s a tough sell but when you can showcase something like steem. people understand it more. at least i hope so lol
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You are right, Jon. I don't look at the price. I think that it will rise again in the future. So I will go to 'accumulate mode'. And to say something to your friends: people love to kick your ass when you are down, because they can't when you are up.
ya. it’s all in good fun but they missed when i told them about making money online almost 20 years ago. so i have their attention lol
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This is great news
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Exactly!!!! I have since day one focused on coin count and not coin value as value is volatile and it only matters if you believe the project will fail! Well Steemit has a functioning and battle tested network like bitcoin, which bitcoin has endured this same retraction multiple times without the use cases that Steemit has and furthermore the ones just on the horizon. Now my only fear is about SMT and how it may effect the short term prices, will it act the same as ETH with tokens pushing the price sky high then crashing... ohh wait no it’s coin count I’m focused on... I’ll just carry on posting meanwhile I hope to capitalize on that volatility and increase my coin count!
Great post, I think all of us evangelists are enduring this abuse but who’s going to have the last laugh?
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lol yessir!!! battle tested is so true. this project has shown and proven itself for years now.
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So many people do not understand that concept, if it hasn’t been broken in 2 years I doubt anything new will pop up other then the scams.
For now we wait, well buy and wait!
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Your post had been curated by the @buildawhale team and mentioned here:
https://steemit.com/curation/@buildawhale/buildawhale-curation-digest-09-18-18
Keep up the good work and original content, everyone appreciates it!
thanks for the curation. it is very much appreciated
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Excitement is good for content production, but enthuisism and excitement is one of the worst traits to have when making investment decisions.
I still think you will do well in the long run @jongolson but I wanted to share that since being an emotional investor will eventually get you burned, even if Steem works out.
yeah that’s why if i wasn’t active and believed in steem, and saw what was being created here. i would go by others opinions. never a good move for me.
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The best move would probably be to base your investments on your experience. For some people, cryptocurrency is their first major investment, and that can make things difficult.
I am not sure if cryptocurrencies is your first investment or not, but I want to caution you about basing your investments on excitement. This is especially true when choosing your next buy-in price.
If Steem reaches extraordinary heights, the profits you make will be much safer if you have already learned to temper your emotions. @k0d3g3ar is one of the people on Steemit that makes rational judgements.
Excitement is what causes people to Buy High and in some cases, Sell Low.. but the key to investing is to Buy Low & Sell High.
I wish you and @kenmelendez much success on Steemit and with your investments. ✌
nah. not my first time in the rodeo. just a project in crypto where i see actual use and value. so that gets me excited lol
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Ahh okay @jongolson Yeah, I wish you much success with Steem, and I think you are right to get excited about the real-world use of crypto (Steem)😊👍
I hope that Dapps like @steepshot and @dtube get large investors to help fund their growth. It might happen once the SMT hardfork is approved!
P.S. I love using @steepshot!
True the dot-bust was not a lot of fun, but if you kept at it you still made some yes I was down a couple of thousand a month and had to work 100 times harder. One thing I did learn is to never give up!! Like .com's crypto will make come back and if you have stuck with it you will be a very happy person in the long run.
yup and i highly doubt anyone will say the internet and dot coms aren’t viable today. lol
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I think you are right Jon... when the price drops, I acquire more coin... I've noticed that my members that "get it" request payout when the coin is down, knowing that it will be worth more in the future.... keep preaching, you are starting to reach the masses!
so true. you have to have a long term plan with this stuff. can’t be for the short term.
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There is one situation when cryptos' value relative to fiat is important. If you live off crypto, and you have no fiat source of income or a buffer for situations like this, when markets are down.
Unfortunately we haven't reached the point when we can have a real crypto economy (or more specifically a STEEM economy), where direct payments in crypto can pay for life expenses whatever they may be. So then, fiat transactions come in, with all their fees and the costs and pain associated with selling crypto when it is down.
Fortunately I am not in this situation. But others are, and I think we've seen their troubles. On the bright side, when crypto prices go back up, they will be the first to rejoice, having all their income in crypto.
absolutely. and i tip my hat to those that have been living off crypto. i’m not there yet lol but the future is coming.
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yup, completely agree! :)
The best decision I made early on was to STOP watching just the price and look at accumulating coins.
Find projects that make sense. The daily chart doesn't have the same impact on how you move forward then. Having, and getting more, coins becomes the focus when you can see where it is going
Good post @jongolson!
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thanks man! yeah. and we stared at CMC alllll the time a few months ago. lesson learned lol
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I think it is funny how they make Crypto appear as a 1 off system or commodity. The same is true with oil prices... they fluctuate... In Texas, for example the ares being drilled for oil goes up when prices are high and down when it drops... people just see the current prices and think oh no... I can't do that! It's not high enough... well every smart investor buys low and sells high! BUY BUY BUY!! :) Besides if you can earn more now why not COMMENT COMMENT COMMENT and BLOG BLOG BLOG to get more coins! :) Jello... LOL
yup exactly. maybe you don’t buy. but you can create. and comment. and engage. that still earns steem.
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yeppers... to not do these times right now is a mistake... such value in doing so for sure!
"There are less people producing content when things get slow and more of the rewards pool to go around."
where this is a reality on steem? if it was true then for every post i would get at least 20 steem. but what is going on listen people cant earn on steam if they dont have voters or people interested in what you do or what you write about.
change my mind.
so that’s the challenge then. get voters and attract the upvotes :)
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