Knowledge is the key to success.

about 3 years ago

The more that you know, the better your choices will be.

It might seem like a very obvious statement but we will see a lot of new people enter the crypto space in the next twelve months after seeing how people are making easy money and wanting to follow that success.

I can see it myself from my friends who have dabbled in the past but left very soon after the markets turned three years ago.

Young(ish), innocent and naïve. We had all bought some crypto in the last bull run after seeing some crazy numbers and wanting that easy money. We did make some and bought plenty of tokens that no longer exist now but we held on all the way down. We didn't know about stop/loss trading strategy, due diligence.

We just lodged money and bought tokens. The number were crazy and all we saw were assets that kept going up in value. It seemed too good to be true.

It was.

We all joined in around august that year and caught the big run up to xmas. My measly $500 went up to about $20K at the very peak and all the way back down to $1000 very soon after. I was lucky in the fact that I had added to my earnings on a social media site where you could earn crypto. It ha taken me months to get established but over time i kept grinding away and earning more tokens. That really helped to increase my interest and grow my accounts.

They all got very disillusioned very fast after hitting those lows and left the space. I'm sure that they still have holdings but everything was put to the side very soon after the crash.

I took a different approach. This whole space fascinated me and instead of walking away when times got tough I dove even deeper. I was in an eco-system full of knowledge and highly intelligent people. They had so much to share and by reading, learning and asking questions I was able to gain a lot of knowledge over the past few years.

While others left their wallets lying cold in the drawer, I was determined like so many other here to gather even more crypto while the prices were down. We have seen great projects launch during the bear market and thrive while people were not even looking. now they are starting to look and we are sitting pretty. We had that knowledge while other were happy to wait on the outside.

We saw what was being build while they waited for the announcements. That is where knowledge of what is happening is vital. The people who have success are the ones that make the right moves. They are buying into stocks months before you read about them on the news and join the fun.

They have the knowledge and info because they go out and get it. The network, they research and they act.

The funny part is that those same people are suddenly interested again now that prices are pumping again and their bags have some value.

Now I have no problem with that and am happy to reply to any texts that they send to the best of my limited ability.

The part that frustrates me is that we are here three years later but they are starting form the exact same point as they were the last time. They don't seem to see that it will end in the exact same way as they have not added any knowledge in this period.

They see markets pumping and think that there is easy money to be had.
They will buy in now and add some tokens to their bags.
They will see some gains and think that it's all very easy.
The markets will drop and they will hold all the way down.

There is easy money to be made right now and i'm no expert but i have added a lot of knowledge to my portfolio over the past three years.

I still remember my first forays into this space and how complicated it all seems.

That's ok. Read as much as you can, ask more experienced people lots of questions. Most are happy to help and especially around this eco-system they are very good.

I'm always happy to help where I can so make lots of comments. Ask lots of questions and keep growing that knowledge.

People think that the first ones in are very lucky. Their not, they are knowledgeable. I heard of bitcoin years before i bought any, probably like most of you here now. The difference is that i didn't get the knowledge to go out and be confident in buying some.