So Many Don't Get It
Yesterday on my Twitter feed I read a comment and was a little dismayed as so many are missing the point. The scenario was that this guy invested $9000 dollars in a token and the comment was it was decent amount but not a retire able amount if the coin goes up 20 x. Having enough to retire is subject to everyone's expectations anyhow and believe one can never really have enough and why constantly earning via revenue streams is important.
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That comment maybe true but what the lady forgets is that many tokens offer staking like this one does and would be worth $2300 per month if that scenario played out. The initial investment paid off within 4 months and well on the way to a retirement opportunity further down the line. What would you rather have is the question as having $2300 monthly or a once off $180 000? The best scenario I see is holding the stake as you aren't losing anything and scoring the $2300 monthly. Selling your stake and putting FIAT in the bank account is not the answer as the longer you hold onto it the more you lose.
What I don't still quite understand is why everyone is thinking about selling and not the living off the earnings from the stake. Yes it is great to take profits and earn when the bull cycle happens, but what do you have once you have spent the quick and easy cash?
Surely everyone has set goals in mind for what they require and that is all good and natural, but what about tomorrow and the day after? The idea of having a steady income is I believe the true understanding of what crypto can offer.
When a bull cycle happens any old fool can make decent gains as everything seems to benefit with a positive price action. What you invest in and what you build for the future is where the true wealth is really happening. This is not for now but maybe a few years from now we will see many living off their stake and living a decent life that others could only dream about.
I think of the mindset we have on Hive as it teaches you to stake and grow your bags as we have learned to be disciplined in our approach to crypto. many could learn a thing or two just by being involved with Hive as there is so much it offers and influences the way you think long term.
There is a massive difference between how people think and believe it could be down to a lack of not understanding as the market has changed since the last bull cycle. Crypto in 2013 and 2017 has changed for the good as there are options today that were not around back then. Staking via certain projects or DeFi is the way to grow these days and those are the ones who will come out ahead of everyone else. The ones who speak of Lambos are the ones who are going to miss out as their immaturity and wanting things too quickly will leave them behind. Crypto is about patience as everything has only just started and buying luxuries is only selling yourself short for what is still to come.
Many of us see staking as the only way to go and the ultimate winner in securing financial freedom from day to day living and waiting for the monthly pay check that is never quite enough.
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Electronic-terrorism, voice to skull and neuro monitoring on Hive and Steem. You can ignore this, but your going to wish you didnt soon. This is happening whether you believe it or not. https://ecency.com/fyrstikken/@fairandbalanced/i-am-the-only-motherfucker-on-the-internet-pointing-to-a-direct-source-for-voice-to-skull-electronic-terrorism
The issue is that crypto, in a large sense, is still unpredictable. Something that may give you $2300 a month now may be worth half or less next month. Yes, you lose holding fiat. But it is largely predictable. I tend to doubt that these very high percentage returns from stakes are going to hold up in the long run. The question is how long will they hold up? If you can answer that question accurately you can be as rich as you want.
Very true and that is the gamble I suppose. I do believe if you find a project that has strong proven fundamentals you will come out on top. There are so many if's and but's out there still but there are still a few bankers I believe. The idea of growing one's stake at the expense of not being in your bank account is the risk some are prepared to take. taking profits is always advisable but also leaving stake I think will be the smart play overall. Only time will tell which move is the right move, but and that is a big but chances have to be taken to change how many of us are living today.
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Many people prefer selling their coin when coin are selling but they forget that staking it will give them much income than selling it.
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If more new users went with the 50/50 reward system and never touched the auto powered up stake in 10 years they just might have enough for a decent monthly paycheck as they power down a little bit. I still think it is best to let it ride ride now, and build savings accounts of both HBD and Hive, then in ten years you may not need to power anything down at all and just live off the passive earned Hive.
When people come to Hive for the money, they really need to look at building, not cashing out, do the 50/50 reward, but they just don't get it. They say they need the Hive to live on, yet they never had the hive until they started posting and participating.
Yes it is crazy as the only real value is when you have built sufficient stake. I started with 0 and never saw the value until I started having more stake and know what can be achieved given time. 5 years was my initial goal but there is no time limit and 10 years I am happy with.
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Worse case scenario: your portfolio finally reaches $1 million, you sell everything thinking you're rich, and then hyperinflation eats in away within a year.
I know for me at least, I am all about the passive income. That is one of my main goals. To get to that point I need a couple of big individual paydays to get some other stuff out of the way first. Like $2300 per month isn't really that much, but if I don't have any other bills or a mortgage, then it is more than adequate to live off of. That is just me though.
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