Very well said. In some ways, it's like a fun hobby though. Maybe you pay a little for the excitement. When I do time the markets just right and increase my holdings "for free" it sure feels good though. Maybe it's that high that keeps me thinking I should be "doing more" to increase my holdings instead of just watching opportunities go by.
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What you're talking about is a gambler's high. It may feel good, but certainly isn't good for you in the long run...
Yeah, that's also a good way to describe it.
I certainly agree with your statement, but a small portion of funds set aside and dedicated to those high risk-high rewards plays can still be fun without jeopardizing your existing investments. Since coins can be traded in such small amounts it wouldn't be unreasonable to take a small portion of gains to play with.
All that being said, my objectives are probably different from every person who reads this thread. If you are in it exclusively to make money what demotruk describes is spot on (especially point #1). My objective is to explore new technology and if I'm lucky maybe make some money in the process. Anyone who is thinking of investing anything should ask themselves what they want to get out of it and use the answers as a template for how to construct their portfolio.
It's possible to gamble responsibly, and some people will be better able to handle that than others. But it's very easy for it to turn from responsible gambling to a problem.
I will say, with the high accessibility of crypto and relatively low fees, I think we are seeing a lot of gambling moving from traditional gambling sites, to crypto day trading.
That's a fair assessment and I agree with you, I did not mean to come off as encouraging gambling just that before doing anything all investors should work towards their own goals and spend time establishing what they are and how they are going to achieve them. This includes doing research and asking themselves if they are predisposed to addictive behaviors.