I did buy at 10 cents 😁
But let me put some qualifications on that.
You're raising an interesting question about readiness for money and whether we are ready to be millionaires. I think it is like savings, it's a skill or habit that needs to grow and be nurtured, rather than something you just start doing and that's that. It's one of the reasons I like Saturday Savers Club and especially the 365 day challenge. You start your savings journey small (literally start with one penny) and in a group of like minded people - and everyone and their savings grow together.
I guess in that case, we need a Monday Millionaire's Club 😁
When I was buying HIVE at 10c, I was dollar cost averaging. I set a small weekly fiat budget, an amount of money that it was immaterial if I lost it. I like to eat out, and I spend that money without thinking too much about it, because I enjoy the experience, and then that money is gone - "lost" in one way of thinking.
So, I took the equivalent of what I would spend on a meal out each week without even thinking about it and set that as my budget for buying HIVE. I bought every week regardless of the price of HIVE. When HIVE was very low, I did spend the equivalent of a year of my weekly DCA budget from my savings. I stopped buying regularly when I reached my target.
One of the important things is a person's attitude to risk. It is important to know your attitude to risk and work with that. If you're a very cautious person (score 1-3), you might want to only earn HIVE and not invest fiat - and that's great, because there is the opportunity to do that on HIVE. If you're a 4 or 5, then you might want to set a very low budget for investing fiat - maybe equivalent to some small expense that it really wouldn't matter if you went without. Lots of people here buy takeout coffee, or lunches. One of those you could do without and the other you could substitute food brought from home. That could be the tiny investment.
Your risk and savings muscles might grow stronger with practice at a comparatively low risk. You might feel ready to risk more, but you have to weigh up different risks. Would I borrow to invest in HIVE? No! Would I borrow against my house? Absolutely not! I might get an extra part-time job, or sell a few things, or organise my expenditure differently. Mainly, though, I would continue to look for passive income opportunities on HIVE.
I know you're talking about much more complicated things than this and I agree, it took me some time to think that I could become a millionaire (I was giddy when my investment went x 4).
Yes, it's really more complicated stuff, that's why I'm writing about it. It's easier to say it's a conversation with myself, but with an invitation to participate). That's why your comment came in handy! Thank you. I really saw both your thoughts and my emotions on this.
And yes, we really don't change overnight or after a few shocks. I just want to believe that my downfalls are already enough to move on. When a lot of things are already clear and clear to me, but one thing is missing. My message and my guess are that it's something inside my head. But we'll see that a year from now. I'm giving myself that deadline to come back here with the results and continue this conversation.
Thanks again for being a part of this!
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