Hard Pills!

in LeoFinance16 days ago

Hard pills!.png

I created this graphic a few years ago because I was getting tired...

Tired of the hype, the promises and fake income claims that people seem to throw around when it comes to online business.

The Hard Pills To Swallow In Affiliate Marketing.png

Everyone wants to build an online business, yet very few want to hear the truth about what it takes to build one.

I thought it would be fun to do a 'crypto' version of this graphic....To help new enthusiasts and investors navigate these crazy waters. I sure know I could have used some of these 'pills' when I got started. Would have saved me from a few headaches....

Hope you guys enjoy it :)

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HODL isn't sexy but it works - Boring! I know! Just sit on your crypto and wait....Where's the excitement of DeFi? Where are the gains? Yeah you can do all the buying and selling you want, but look at the price of crypto generally over the history of it's existence....HODL is the best strategy for wealth creation!

Community Is King! - If you need any proof of this...Look at Leo Finance. Look at Hive. Look at where the passionate enthusiasts are when it comes to crypto...They are usually...Hanging out in a community!

There is only 21 million BTC - This is one of the more frustrating things I see online...People telling new investors that they can earn 'unlimited BTC'...Welp, sorry to burst the bubble, but there are only 21 million of them. Ever. Don't fall victim of the fake promises and blown up hype!

You won't get rich in 30 days or less - Sure, some lucky souls have hit the jackpot when it comes to some defi projects, but generally....Unless you are coming in with big bank and then invest in the next 'megacoin' chances are, the wealth will take some time to develop!

Reading white papers is a good idea - It's not the be all and end all of smart investing, but the more you can do your homework on a project...The better! I have literally printed out dozens of white papers and read them, front to back before spending a dime. It's not a guaranteed that you'll be safe but it's a great way to learn as much as you can about the project and it's background!

Day trading will ruin you - Disclaimer: The guys and gals that understand this stuff, do really well with it. But for the average Joe and Jill...It's nothing but a money pit! Markets are irrational and you can lose your shirt if you don't know how to play them.

Not your keys...Not your crypto! - The age old warning from the days of Mt.Gox...But still, a reminder of the risk that's out there. There are plenty of custodial wallets and services that are legit and fantastic platforms. But if you don't hold your own account keys, it's never 100% your crypto.

Never spend a dime you cannot afford to lose - Such an important 'pill to swallow'! Markets will go up and they WILL go down. If you cannot afford to lose it, don't spend it. Period!

Use case is important - When the markets go up, everyone loves crypto. When they go down, they ask themselves what can they do with the coins...That's why use case is important. For example, LEO, CTP & Hive can be $5 bucks or 5 cents...Doesn't matter to me. Because I use them each and every day. Use case helps to remind you why you are even in crypto in the first place!

Dollar cost averaging is awesome - And finally, my FAVORITE way to take fiat and put it into crypto is...Weekly dollar cost averaging. It doesn't matter if there is a bull run or bear market, I'm taking the exact same amount of fiat, and buying crypto with it. The emotion is OUT of the game when you dollar cost average!

I hope these tips help...If you can think of any more, because I know I forgot a bunch, be sure to leave your comments below so they can help future readers of this article :)


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I was going to say flipping pennies on Hive kills Unicorns!! But it's already there in the middle lol
That one is really hard to swallow for our "beloved" day trader wannabes!

I really enjoyed the Business version of it so of course, the Crypto version would be awesome!

There are so many people out there in this world even longer than us and still don't want to get some of those pills, not to mention the newbies if they reached some of those people and learning the wrong way...

My hard pill is reading white papers just because I'm lazy lolol
Bless you, for reading them and have the patience to explain to me :)

ha ha ha ha I mean, they aren't the most exciting things to read...but gives you a really good idea of the vision of a project.

Watching paint dry is fun too lol

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Hard pills to swallow... but they're good for you.

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Filled with vitamins and minerals :)

Posted Using LeoFinance Beta

All important things it's like looking in and seeing how success is made from the inside. So many people just sit back and think "lucky" and don't realize the hours, time and commitment to build all of that and after years of doing so finally then reaping the rewards.


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That's so true. With the gains people have gotten over the past few months, people might forget the years it took to get to that position.

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These are great and so common sense. To me day trading is too much of a gamble and like playing the slots in Vegas. I am one of those people who can walk through a casino and not put a dime in a machine. Because previously I was not so smart. Didn't lose enough to cause an issue in my life but it's not fun to throw away money like that. So I love the whole earning and hodling concept. Kind of with Eliana on the reading white papers though. I know it's something I should do but it's the hardest pill of all of these to swallow.

I like...Slow and steady...Which is kinda the complete opposite here in crypto land LOL

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I do too, @jongolson! Trying to watch the numbers go up and down constantly and then see if you can make a little bit of a profit? Nope, flipping pennies is not for me. Not worth the effort. Enjoy your day! 😀
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@lisamgentile1961
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Thank you for your engagement on this post, you have recieved ENGAGE tokens.

One of the most painful things is that no one has succeeded in the world of profit from the Internet and comes to erect and steal the money of others under the pretext of recovering his lost money.

That happens a lot unfortunately. :(

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I agree with most of it expect for the white paper reading, I have a ton of serious stuff to read in general, reading those things as well would destroy my soul :P

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ha ha ha ha ha White papers arent that bad....Promise lol

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I was wondering what the article was about but they are great things to consider if you are playing the long game. The short game can definitely kill you.

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For sure....Short game will leave you broken.

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Ha, there's one in common:

You won't get rich in 30 days or less

The get-rich-quick mentality seems like a common issue wherever you turn.

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Yup. no matter what the industry online....Everyone thinks it's...Put money in, instant success.

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I love this article.
I agree with all the pills.
That was me 10 years ago . looking for the pot of gold!
But I have stuck with it and learned some hard lessons.
I must be a glutton for punishment.
because I keep trying.
CTP has helped a lot.
Thanks for all the info.
Your platform rocks

Great article pills idea

Thank you sir, appreciate you saying that :)

And awesome to have you onboard CTP!

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On average 2 to 4 people contact me every week on FB Messenger trying to talk me into all kinds of bad day trading platforms a few of them were even automated. As TaskMaster4450 brought to our attention in the CryptoManiacs podcast Warren Buffett did not build his fortune day trading in 90 days or less. Warren Buffett built his fortune over decades. Crypto is no different, and Jon as you say be here a year from now :-D

Great point man, and yeah Task hit the nail on the head yesterday. This stuff doesn't just happen in 90 days or less.

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Never spend a dime you can't afford has to be one of the best pieces of financial advice ever.

Applies to everything from buying a fancy new tv to investing in crypto.

Absolutely!

Great point, it's advice for all aspects of life.

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I definitely need a consistency pill, along with reading the white papers and never spend a dime more the you can afford to loose.

I'm a gambler and have been all my life. I used to practically live at the casino. I never really played big but I played often. I take chances even now. I've learned to stay out of casinos only because there aren't any close by.

Now My passion is to dump all that I can into crypto on hive. I mostly stick with 'dollar cost averaging' but when I have extra or I get some money unexpectedly, my first thought is that I hope that Litecoin is down so I can get the most hive possible.