RE: DeFi Minting Millionaires

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Many prefer lower risk environments with a steady return.

This is definitely me, especially as far as my bitcoin is concerned.

It's an interesting questions as to what I am and am not willing to risk. I put my DEC into the DEC/BUSD farm because I think I can earn more if necessary.

However, I am less inclined to risk Fiat even though returns in traditional banks are pretty much 0 now.

As I learn more about DeFi it might be fun to set aside a small amount I'm willing to lose and play with it. Just to see how far I could go. However, there will come a threshold where, once crossed, it will no longer feel like playing. I'm not sure exactly where there that is. Maybe I should play the game and find out. 😂

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I'm also cautious, not jumping in both feet, but still, I trust the project and have invested quite a bit.

They say profit is for those who take the risk and this is true. Look at how much those, who joined the first day made.

In my opinion you have to be ready for every occasion.

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you have to be ready for every occasion.

There are way too many opportunities nowadays to be ready for them all. I'm learning to be more discerning nowadays and try and only go for those that fit my long term strategy. Although, having said that, I'm still learning what my long term strategy is. 😂

!ENGAGE 30

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There are way too many opportunities nowadays to be ready for them all.

Tell me about it! It's crazy how many we're missing out, but then again, we can't be everywhere, can we?

Although, having said that, I'm still learning what my long term strategy is. 😂

My long term strategy is changing by the minute 😂

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That is where each person has to assess his or her own risk tolerance. of course, as more options become available, it will encompass more people since we will see less risky alternatives appearing.

Either way, it is good you are involved with your DEC. That should provide you a nice return.

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since we will see less risky alternatives appearing

This is what I'm waiting for before I risk my bitcoin.

Meanwhile, once I've worked out the fees, I'll be saving up my DEC, swapping some for more BUSD and getting more into the farm. This part still feels more like a game to me. 😊

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This part still feels more like a game to me.

Now you are starting to get the money game. This is what it is to Wall Street. The money is just a way to keep score.

So, in my view, the sooner we get into the game mentality, the better we will be in the long run.

It is much easier when the emotion is removed from the equation.

I hope you make a ton off your DEC move.

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I hope you make a ton off your DEC move.

Thanks! That would be when it gets interesting. At some point it, if I make enough, it will no longer seem like a game and will start to matter. 😂

I don't know at what point that will be but I'm willing to find out. 😂

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LOL and then if you make enough money past that, then it becomes a game again.

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OK. So now I have 2 targets . . . play the game to the point where I make enough to start feeling nervous about losing it.

Keep playing until I make so much it becomes a game again. 😂

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haha. yes! And then scary again, and then a game again.... and on and on etc. as you climb the ladder of ludicrous wealth and terrifying responsibility!... or alternatively as you fall down the epic wellshaft of failure and experience the magical liberty of losing everything. Its all a game, and its all super real. Life is mega strange :)

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Except that epic wellshaft of failure is where we are now....

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hehe. society you mean?
or just our lives?

Embrace the epic wellshaft of failure

who knows, eventually we might even learn to enjoy it?

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I really like that perspective. It is all a game, and the money keeps score.

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I put my DEC into the DEC/BUSD farm because I think I can earn more if necessary.

This is completely new for me.
Do you mean Dark Energy Crystals by DEC?
If yes, then what can I do with it to earn more (besides playing the Steem Monsters/Splinterlands game)?
I currently have 3380 DEC.

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what can I do with it to earn more

I'm not sure that DeFi is the best place to earn more as you could end up with more BUSD and less DEC.

Also, unless you have BUSD you'd have to swap half your DEC as you have to have equal amounts of the 2 tokens to be in the farm. And every time your swap or harvest you have to pay fees so you need a good stake to start with.

I'm new to Defi so learning as I go.

One way to earn a little extra DEC is to join a Guild. Maybe check out the Team Possible one. They're very helpful and will advise you of the best way to go.

!ENGAGE 20

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Thank you. Then looks like DeFi is not for me at its current state. By the way, I am already a part of the "BuildTeam" guild.
I also know that winning a battle with an Alpha and/or a Gold card(s) gives additional bonus(es) (sometimes I use both, and I get a bonus for both of them).

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Like you, I am also on the cautious side @gillianpearce, perhaps as being a smaller investor who simply can't afford a large downside. I will never be an active day trader, nor someone who chases the latest super high yields around.

I need that bit of fiat I hold, in case I suddenly face a large car repair bill or maybe a new water heater at the house. Whereas it is not a fear of putting "skin the the game," it's just not functionally reasonable.

Sometimes I feel like I'm a bit of a stick-in-the-mud among the many "High Flyers" around here!

=^..^=

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I need that bit of fiat I hold

Me too. No way would I risk my mortgage repayment in crypto even if the fiat returns are non existent. I don't have enough working years left to make it back. 😂

I don't mind being a

bit of a stick-in-the-mud

if it gives me peace of mind. In the wider scheme of things we're still cutting edge anyway. If I had a penny for every time someone responded to my answers to their questions with "I don't understand but . . ." I'd be very rich indeed.

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A good way to get a foot in the door is to participate in some Airdrops. With Airdrops you are not forced to invest your own money. If you search around on Twitter for example you will discover some from time to time. It‘s at least a good start for people who don’t want to risk their fiat. Try it out.

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