Why Bitcoin Can't Go To Zero?

in DTubelast month (edited)


Today's chatting is similar to one that I had a few days ago, but as I see a similar pattern in people repeating, I wanted to share my personal story about my crypto journey, my mistakes that I have made, as some of my thoughts about crypto markets in general...

On one side, I was lucky that I heard about Bitcoin when it was valued in hundreds of dollars... But, on the other side, I was unlucky (maybe a bit dumb also... lol...), that I didn't see the real value of it at that moment and I didn't accumulate it... To not blame only me, I will blame others... :) I didn't have people in my surroundings that I can discuss on that topic and reassure that I'm on the right path...

Today, it is a lot more different... We have communities and a lot of information about cryptocurrencies... Which can be a trap, as it was in the last crypto bull run... A lot of noise, a lot of "shitcoins" and worthless projects, and all that was there to take our money out of our pocket... To be honest, some people are trying to reduce that noise and focus on the quality... You can hear their voice also, but it's not that easy to find "the real thing"...

Anyways, I have said it before, and I will repeat it... I have some internal feeling that this time, I'm on the good road and that I'm doing the right thing... Of course, time will show if I'm right or wrong, but doing things differently than in the past can help in the expectation of different results...

Check out the video where I was talking about FOMO, big boys in the crypto world, and other things...

Thank you for your valuable time,

~ph~

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I know putting some money in ETH is also sane choice but I lost my all previous metamask wallets. I just wish they develop things in Hive.

You are right about the Hive... The chain is actually very good and very undervalued... and "under-used" (if that is a word)... There is a possibility to build extraordinary things on it, but somehow, it's flying under the radar... But, we will see what happens... There are things that are built (and building) for Hive... it looks slow, but it's important that there is action...

Yes, feeding into the FOMO can really burn you in the long run. I have seen so many people do this in the world of crypto and the stock market alike.

Panic selling is the worse thing you can do. Like you, I learned from trial & error as well. Honestly, I think we all do in some form or another - it's just about learning what truly works & as you said, if you don't have the proper guidance, that can throw me off as well. You have to be careful who you trust for financial advice, especially in crypto (since it's so volatile). Strategizing a plan always help keep you clearer minded when the cryptos start roller coasting lol.

For now, I am more of an investor and HODler of crypto because I see the bigger picture. I know it will only improve over time since fiat is dying a slow death. So, it is better to practice patience NOW to reap the rewards later. ;)

Thanks for another great video, Zoltan! I hope you become the next crypto millionaire ;) 💜

I hope we all will be millionaire... :) Keep on building and accumulating... as I use to say... or show... or... whatever...

I think the majority of us get burnt when we enter the world of crypto. It is just like you say, we enter the market with FOMO, and many times we are surrounded by people who do not know much more about it than what we do. So that doesn't help much either...lol.

With that in mind, it doesn't take much for FOMO to turn into "fear of losing". Been there, done that, got the T-shirt. As long as we learn from those experiences and educate ourselves to make more informed decisions instead of emotional decisions in the future.

Thank you for sharing this great information with us!

we are surrounded by people who do not know much more about it than what we do. So that doesn't help much either...lol.

ahahahaha... That is definitely the case... and especially when both sides think that they KNOW ALL about it... and convince each other... lol...

And emotional decisions are the worst part of trading and investing... It is the hardest thing to turn them off, but there is no successful investing with emotions... That's just the way it is... and we have to accept that...

... and especially when both sides think that they KNOW ALL about it... and convince each other... lol...

That is SO TRUE...lol!!

We must have started with BTC around the same time. When I started in 2014 it was around 250$. I had the accumulation mode on then already. I actually never invested fiat into crypto. All I have today I accumulated it. When prices when down I accumulated faster. When prices went up I hodled :-). The ecosystem around crypto has been growing constantly. In 2015 about 80% of all transactions were due to btc faucets... Now there are plenty of services and websites based on crypto. This is the best reason why BTC will never go to zero because there will always be somebody who needs it for his project...

Well, maybe we have started with BTC at the same time, but it looks that you were way smarter than me... :) I was buying at high and selling at low... and said to myself "NEVER BTC!"... and here I am again... lol...

hmm... You are in this game earlier. You know big boys or girls trick! ;)
Thank you @ph1102 for sharing your experience.

Everyone who is in the crypto "world" for more than 2-3 years knows that! Problem is that even knowing that we FOMO in... :)

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