#FinancialGoals2021 - Entering a new era.

in LeoFinance2 months ago

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There was no better way to kick off 2021 than participating to this initiative which is sponsored both by @theycallmedan and @leofinance. Having goals and dreams is probably what keeps us alive. What's a man without goals or dreams anyway?

Speaking of dreams...


2020 was by far the worst year for so many aspects of my life. Our small business, a small cafe, was destroyed because of this Covid thing...Damn, we put in so much money and effort and personal work so that our endeavor to the business world will be viable -and it would have been- that it just saddens me when I realize that my inheritance is debts only because of a situation I couldn't control. Worst part is that I had to empty my crypto bags...almost 90% of what I was holding is now gone...

As for the remaining 10%...it was somewhat equally split between Hive, LEO and XMR. Why XMR? Because private coins are my favorite for numerous reasons. But hey...when it rains it pours, right? So a couple of days ago Bittrex along with Binance.us and a few other exchanges decided that it's for their best interest to delist all private coins. XMR / ZEC / DASH and a few others. So in case you wonder why those coins have dipped that much the last 48 hours...now you know.

Long story short I decided to sell all XMR I was holding 24 hours ago because price will definitely tank. What a great way to say goodbye to 2020 eh?

Investment strategy for 2021...


But you're fooled if you think that I am gonna sit down and cry like a baby because of all these shit that happened in 2020. That's not me...

So what's the plan? It's actually very simple. From now on I'll only invest in projects that have a real life use case. Actually that's what I was doing already but since holding XMR is now like holding a nuclear bomb, I've changed my plan.

If you want to win big you need to put your money where your mouth is.


And that's exactly what I was doing up until now. A few setbacks won't make me quit. So long story short, the only thing I am not proud of when it comes to investments is that I was holding 0 BTC. ZERO. Nada...That's about to change.

Every single spare penny I get will be invested in BTC, LEO and HIVE. With that particular order. No more experiments, no more in the search of the new alt that might be the new "shining star". I always thought that investing in alts or at least in the right alts could possibly be more profitable than investing in BTC. What a fool...

BTC is the battle ram of all crypto. It's the undisputed king and it's mathematically heading to the moon. Patterns and charts may lie or be deceiving but not in BTC's case. You think those corporations and all these institutions that are now buying BTC are fools that don't know what their doing? Quite the opposite. You know why BTC price is smashing one ATH after the other every single hour? Because those institutions are buying more BTC that what is mined every day/week/month.

Supply vs Demand. Simple as that. You think it matters to them if they buy BTC at $31.2K or at $33K when they know that it is mathematically heading to 7 digits two halving events down the road? It doesn't matter at all trust me on that.

The reason I am now focused on BTC especially is because I think that the so called alt season we've been waiting for all these years might not even happen at all. In order for the alt season to begin, money should flock from BTC to alts. Now tell me this. You really think all those institutions that are buying at the $30K+ range will suddenly gonna start dumping BTC left and right? No they won't. And even if there's one possibility that they'll do, BTC should reach a lot higher than where it's sitting today before that happens.

Plans on how to use and grow my stake.


There's not really a secret sauce. Blogging and curating on Hive / LEO is just not enough. You've got to have skin in the game. Lately I had to sell some of my Hive holdings to pay a chunk of those debts I inherited. It feels really bad, I am telling ya. I was attached with my HP. I didn't even care that HIVE was cruising at the 11 cent territory...it was a part of me.

So first things first. I want to rebuild my Hive account that was proudly sitting at 110K+ HP prior to those setbacks, build also my LEO account because I see the potential it has and I am part of the Leo team from day one, and manage to hold 1 BTC by the end of 2021.

Hey...solid plan don't you think?

I know it ain't gonna be easy but I'll do my best. Hive ain't gonna be cruising at 11 cents forever...nor LEO at 29 cents. As for BTC? Well I think you all know pretty damn well where it's heading to. And damn, I really want to be one of those 21 mill BTC owners you feel me?

Conclusion


If there's one way to improve my financial situation for good it must be via crypto. It has to be. There's no room for dreams working 9-5 plus overtimes in an economy as broken as ours...

"First world" country...with third world's economy...bad, really bad combination.

So now you know my plan fellas. Looking forward to read yours.

Have a good one peeps.
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Cheers!

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Good luck with your targets! Yes, if you manage to get 1 BTC you will be surely in the upper 1% as people will have Satoshis, but not a whole BTC. Let's make the most of 2021 and forget 2020!

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Don't lose hopes on alts. It's not their time yet. Probably those institutions won't sell BTC for alts but fresh new retail money will once BTC becomes too expensive.

I hate what's happening with privacy coins and it's somehow something I was expecting for a while. Governments won't simply allow something to be out of their control and somehow through the financial institutions that are buying BTC they get in control of BTC.

Or at least they know who own what. Years from now nothing will be private any longer, it was designed to be that way.

Good luck with you goals!

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Probably those institutions won't sell BTC for alts but fresh new retail money will once BTC becomes too expensive.

Define too expensive because it was too expensive at $50 then at $300 later on at $1500 nowadays at $33K...a few years down the road $200K might be the new normal.

I hate what's happening with private coins too. Let's just hope that they won't be delisted from every major exchange

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It's the mighty US that's delisting everything they're scared of. Asians said they won't delist XRP and they will for sure won't delist privacy coins.

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In order for the alt season to begin, money should flock from BTC to alts. Now tell me this. You really think all those institutions that are buying at the $30K+ range will suddenly gonna start dumping BTC left and right? No they won't.

You're right that the institutions buying up the BTC will not dump and invest in alts, but it's everyone else who bought BTC at any point in the last 10 years or so that will be selling some as the price continues to rise and looking for a new place to put that cash. That's where the next alt-season will come from.

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Let's just say that you bought BTC somewhere between $1500 - $3000, would you sell now? It's pretty obvious that people nowadays are way more informed regarding crypto and BTC specifically and all of these owners know that the more institutions jump in BTC the more it will keep swallowing every sell wall on its way to the moon.

There will always be some weak hands, that I know. The question is: Are those weak hands enough so that we enter the alt season?

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Well I didn't say I think the alt-season will start now! You said you don't think it will happen at all, but I expect it will be shortly after BTC hits its next cycle high, similar to the last time. If bitcoin hockey-sticks up well into the 6-figures as many people expect in a year or so, then at that point people will start to take profits (and there will be a LOT of profits!) and look for other places to put them.

Also I don't expect people to sell all their BTC, but if you bought at sub-$10k and it goes up to $100k, a lot of people will take a small chunk out which could translate into a lot coming into alts.

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They will cash out in fiat or invest in other assets (real estate or stocks). To reward themselves being smart. They'll be rich already and don't need diversifying into altcoins.

That's my plan.

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Fingers crossed then that things will play out the very same way they did last time. That alt season...it will include HIVE, right? Just say YES :P

Jokes aside I think we have the same mindset, we just express it in a different way

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Agree.

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Time shall tell, right?

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Good read @mindtrap!
I wasn't going to participate to this initiative, but I read your post and suddenly I think I should also do it.
I'm sorry for the crazy 2020 you suffered, but with this attitude and a PLAN you will be more than ready to thrive this bull run!

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Good to see you around buddy and thanks for the kind words. You should definitely make a post about it. At hard times you'll go back and read it all over again. That will give you strength to keep on going. Plus, I might steal an idea or two if you have an interesting plan :P

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Its so insane your goverment didn't help you in these times x)

But good to hear you haven't given up on Hive yet :D

Our government is a gang of traitors. Just like 90%+ of the governments all over the world...

We are used to it...And exactly the reason why people around here have stopped making dreams for a better life

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And I thought Greece was a way better country than Romania. It's such a shame that people like ours with such a history are kneed by a bunch of politicians.

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It's definitely one of the most beautiful countries of the entire world. A nice place to visit, spend your holidays, learn history, science and arts and finally a place that combines beautiful seas, mountains, rivers, islands, forests and so on...In other words the perfect place for tourists...but not for the locals who have bend the knee to our government and can't enjoy almost anything of the above.

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Sad, but true...

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Hmm, sorry to hear that :/

Stay strong @mindtrap! 2021 will be the year of your come back!

BTC is the king! Any healthy crypto portfolio should be majority BTC. Those who do not understand it are asking for trouble. Start collecting Sats, as much as you can, as soon as you can!

There is no way institutions will buy anything else other than BTC. However, retail investors might start buying alts like crazy, if BTC keeps going up and people think BTC is "expensive". This move may initiate the next alt season, but it will be entirely based on retail investors.

I do not share your passion for privacy coins and never invested in any of these, because I saw the regulators coming as the crypto market matures and I don't think regulation is a bad thing after all.

Καλή χρονιά!

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The only thing that you left was the "drop mic out" lol, I really enjoyed to read this post! It makes me gain a lot of energy and motivation because even with the fact that I don't have a lot of money (or decent money, I mean, 100 USD right now as example) I really want to be part of those BTC owners too!

I did knew about BTC few years ago but I didn't take the risk for being afraid, but now I regret that fact because ironically if I had spent that money in those satoshi, today I could have a lot of money to live without doing anything with my life lol, but every situation in your life teachs you something and now I'm ready to play that game too.

I hope that you achieve every single goal that you have put in this post and I hope that you could earn 1 BTC too for this 2021 year, this is the game changer year and we're ready for it!

I'm going to make the same investment that you're going to make: BTC, Hive and Leo, that's it!

Good vibes and blessings from Caracas, Venezuela.

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I feel you man! It's a tough year, especially for countries like ours! There are some unique lessons to be taught in situation like these though and I am glad you see the bigger picture! You are a fighter ;)

I am also diversifing some of my earnings for BTC and other crypto for some time now and that's what I'll continue to do so! I wish I've done it sooner though!

Have a great year yo!

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I'm about to make my post and I'm glad that I read yours. I also don't have any Bitcoin because I only like to hold coins that I can use in many ways, but every time I tell my family that Bitcoin has gone up they tell me why I did not but that... To be honest, I haven't bought most of my stake, most is earned.

I hope you reach all your goals!

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When it comes to crypto I think that the only coins with real life use case are BTC / HIVE / ETH only because of the smart contracts and all private coins that are getting hammered because governments can't control them.

Stacking sats here and there wouldn't be a bad idea mate. Who know maybe in a few years each Sat would worth 1 cent...or 10 cents...

Good thing you are committed and try hard every day. Your efforts don't go unnoticed. ;)

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Thank you! And I will follow your advice, I will start buying Bitcoin with some of my winnings and invest fiat when I have the opportunity.

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Crypto will act as a real protagonist for many people this year (and fortunately, the next ones as well).

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It is very important to get up after falling, I hope this 2021 brings you twice what I take from you in 2020, greetings

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Now that's a wish!

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Altcoin boom in a few months centered around Ethereum mostly mark my words ;) You'll hit that 1 million mark I know it!

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Ha! That's what I want to hear

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I'm sorry you had to go through all this, must have been frustrating. I guess we all had to suffer from the pandemic and lucky are those who had no financial losses.

Your plan is ambitious and I like how you prioritized your investment. It's a good one. I wish you luck to achieve it.

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μακαρι το 2021 να δουμε λιγο χαρα με τα crypto π εχουμε κ ευχομαι να τους πας @@@@ αυτον τον χρονο!

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Sorry about your financial situation. Hope 2021 brings you good fortunes. I have a similar investment plan. Buy btc, Leo and hive. Once I get a day job I will start that.

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I'll drink to that mate!

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Who could have guessed that this would happen, and the Gov would decide the winners and losers? I had dreams of opening a crypto club or coffee shop. You're not giving up is an inspiration and I know with that attitude you will succeed. Please just keep in mind that the Gov could also decide that only corporations and banks may use Bitcoin for international trade, BUT NOT YOU!

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You think they could stretch things that much?

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If they get desperate enough to make us use only their digital currency, yes they could. IMHO

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in this economy owning gold and oil are important and in the crypt economy that is what BTC and ETH are... gold and oil.

I am glad to have been buying btc for a few years now and can only applaud you for doing the same

Sorry to hear about your small cafe... Are you allowed to do take away ? or did you have to shut down already?

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Unfortunately I had to shut it down like 3 weeks go. Government's plan for restaurants and coffee shops is that they'll be back in business mid March...

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how are you dear friend @mindtrap good day
I'm sorry to read the loss of your business, unfortunately it is a postcard that is seen in much of the world, one of the most affected areas was yours

I did not know that Bittrex would eliminate ripple, I have an investment there and I never received any notification about it, see what I am going to do
Cryptocurrencies are undoubtedly a very good investment option

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I was talking about XMR (Monero) actually . Will they delist Ripple as well?

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Some exchange platforms have been eliminated from ripple due to the demand they have made, that is why I confused, since the acronym is very similar.
sorry for the confusion

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Doing something very similar and will have at least 2 Bitcoins this year by hook or by crook. I luckily have some to invest and it is a simple no brainer type plan. I still feel bad about your coffee shop and hope some other opportunity presents itself to you at some point. This year is going to be much the same as last year I feel up until June anyway. We have experience now and a good idea of how to operate in such circumstances.

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Even though it starts off on a down note, I'm glad you have optimistic plans for the future. My plan is pretty similar to yours. I also don't really have any BTC and kind of regret it. I only have so much money with which to invest and it's hard to know what the best idea is at the time. Only when looking back does our path seem clear, and then it's too late.

Best of luck to you in 2021!

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I have a feeling that it's never too late to jump on the BTC train...just saying...

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For sure! Part of my plan for this year is to buy more. I'm working on my post today too.

And I was thinking of buying xmr to store money, but I see that it is not a recommended option.

Good plan and financial as cryptography will really be the future beyond the first world third world will break all barriers in this 2021.

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Sorry for the harsh 2020 for you.

I was holding 0 BTC. ZERO. Nada...That's about to change.

I echo you here.

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I feel sorry you got crushed by the master plan running lately... and more than once.
But I admire your mindset and I’m sure you will strive in 2021.
You’re right BTC sounds like a sure bet, even though nothing is sure in economy.
But I would disagree with you on alt. Yes instituons are buying, smart money will too, even masses will ! We are talking about a lot of money, way more than BTC could ever absorb. Eventually money will overflow towards alt, you better be here too ;)
Wish you the best !

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