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RE: How to become rich by long term investing in decentralization and blockchain technology
I would resume it with: Surf the hype and jump before hype ends
I would resume it with: Surf the hype and jump before hype ends
I'm sorry but, thats exactly, what I don't want to do. The hypes link to pnd, what I wanted to avoid. I know, you "may miss" out a lot but you have to keep track the whole time and you will be still wrong.
For example it would have been perfect, if you could have bought BTC in december 2012, sold it in april 2013, bought it in july 2013, sold in December 2013, bought in january 2014. You would have made a lot of ROI very nice, but for this you need a lot of knowledge about economics and then you will still buy at the wrong time, so that you may be able to get a little more out of it, but maybe you even loose more. You just CAN'T know the right time. That's why it's better (also for your nerves) to just hold forever. If you bought Bitcoin 5 years ago, it doesn't matter when. Even if you bought at the 30$ peak in June 2011, you would be still at 20fold now, although it went down for a long time. You don't have to track the whole time, thinking "should I buy more know or wait? Or should I sell?".
Agree with you in btc case but look what happens with most of the altcoins,
First level - hype and price going up
Second level - Whales start to sell and dump the price
Third level - The coin never recover because people lost the trust
Of course i think steem may be more similar to BTC than to other alts, i hope
We had a lot of pnd the last 2 years, and nothing was able to stay in higher levels, thats true, but thats because of the very long consolidation of BTC. This was just a very bad time for Altcoins as well, but if BTC is ready to go further (which is probably right now) the gains of other coins will also be more persistent.
I maybe didn't write that, but I also wanted to point out, that I just don't want to stay only in BTC as other coins will maybe surpass. That's why I suggest to sell only a small percentage, if a coin is really going up, just to compensate the invest. It may go down, it may get worthless, but it also may surpass BTC somewhen. I am talking about really good coins like ETH, XRP, maybe STEEM