So How Many Bears?
@josediccus asked the question in his latest post about how many bears does it take to get to financial freedom? I think it depends more on the individual and how they think or don't think. Many don't realise what they have till it's gone and suddenly that value increases leaving them with FOMO. I have thought about this for a few years and not taken lightly as this is crucial to finding your wealth. Breaking up the tine lines and what needs to happen is part of the overall strategy as you need to have a plan.
The easy answer is as long as you learn from your mistakes and take in as much information as possible you have a good chance of achieving your financial freedom goals. I see it simply as 3 Bear markets as each one is a different stage in your Crypto cycle. All are very important and you have to remain active throughout without taking breaks. Taking breaks on a place like Hive just slow your overall growth down and could set you back months. You are as crucial to every other person you support as this cannot be achieved on your own.
It also will vary whether you are actually involved in a project like HIVE or not as here are so many different scenarios. The majority trade to try and grow their bags whilst the smart ones are actually involved in a project every single day growing their bags with no trading required. Someone actively involved in a place like Hive will achieve their financial freedom far quicker than those not involved daily.
Stage 1. The Learning Stage.
You start with nothing and in my case still have more than you started with when the next Bear cycle hits. You are here to learn as much as you can and realise that this is not a quick flip and will take time. Learning that you need time to learn is the most valuable lesson in stage 1 and if you know that you have a great chance of succeeding. This may be slightly shorter than the other stages as it depends when you first entered Crypto.
Stage 2. The Accumulation Stage.
Depression sinks in as you have what seems like nothing left yet you still have stake. For those outside of a place like HIVE a Bear market is very different and would be very depressing. Yes you can stake in various projects but you can't do the extras like we do and earn constantly. The most important thing is you haven't sold and still have stake and the desire is to now apply what you learned in stage 1. Things are far easier due the fact you have stake and can earn in the various blockchains via their APR and compounding.
This has to be the most important cycle out of the 3 as this is when you grow your real value. You have a diversified portfolio so not having all your eggs in one basket. Each basket is important as some eggs will outperform others and give you real go forward momentum. There are some baskets that are not for sale when the Bear hits even though taking profit is important. This all depends on your financial situation but living off Crypto is not advisable as you are only hurting your chances of succeeding.
Stage 3. Accumulation and Home Run.
The bears are back in town yet you still have decent value due to the growth in the last cycle. There is some profit to reinvest and you are nearly there as the next 3-4 years the goals will be achieved. The long term holds like Hive are still long term and are not for sale as they will provide the income you desire when the prices rise through their earning potential.
This is a rough time line of what I expect to achieve and place it roughly as a 10 - 12 year project or 3 Bear cycles. You may or may not achieve the targets, but sticking to this you should get very close.
Achieving financial freedom normally takes someone who does well in life about 25 years. This is half that time so even if you take an extra cycle you are still doing very well and outperforming the majority of the population. This is something I have thought about for the past few years and kind of what I am tracking personally.
The compounding and accumulation during the second Bear market is that important and the stage I am in currently. I have certain Cryptos that are not for sale as they are there as the earning potential for 5 or 6 years time. Staying in Crypto and not hopping into FIAT is the real goal and at the stage when I think you can say you have finally made it.
This I don't see everyone achieving as everyone thinks differently which is natural human behavior. Greed and FOMO I see as the white noise you need to ignore which is probably when most people tend to fail. 12 years is not that long and the sooner you start the journey the better as the ball is in your court and there is no reason why you cannot succeed in achieving financial freedom.
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