I must have written about 5 posts on bitcoin between 200words and here.
I shared when I first decided to get in. I shared how I felt when the market stalled. And I shared when the price of bitcoin doubled in 22 days. I think it is fair to say that I have experienced all the emotions that anyone who is gambling does.
I have not invested before cause I never felt like I knew enough to do the right thing. I also have an addictive personality so I was afraid of the high of watching my stocks make money. However, I felt like it would be ok to invest in bitcoin. I am still not sure what was different this time. 2020 was already bad so I figured, it can't get any worse. But then the numbers were increasing so sharply everyday that I started to wonder how I would spend the money once I became a millionaire.
And almost a month and a half after my first time investing, I experienced anxiety. Bitcoin fell by over $11K within a matter of a few hours. I went online to find out why - and there was nothing. I talked to my friends who are also in this space and everyone was just speculating... no one knew why.
Then I thought to myself - maybe this is an opportunity to buy more. And then I realized how effective and timely the sunk cost fallacy was. Here I am thinking of burning more money when I had no idea why the current crash took place.
Over the last 24 hours, I have refreshed my phone many times to see if I got my money back. People who are believers say this is expected and bitcoin will still march towards a ridiculous high. I hope that is true. I have already made very detailed plans to be rich so I hope my planning wouldn't be for nothing.
I shared when I first decided to get in. I shared how I felt when the market stalled. And I shared when the price of bitcoin doubled in 22 days. I think it is fair to say that I have experienced all the emotions that anyone who is gambling does.
I have not invested before cause I never felt like I knew enough to do the right thing. I also have an addictive personality so I was afraid of the high of watching my stocks make money. However, I felt like it would be ok to invest in bitcoin. I am still not sure what was different this time. 2020 was already bad so I figured, it can't get any worse. But then the numbers were increasing so sharply everyday that I started to wonder how I would spend the money once I became a millionaire.
And almost a month and a half after my first time investing, I experienced anxiety. Bitcoin fell by over $11K within a matter of a few hours. I went online to find out why - and there was nothing. I talked to my friends who are also in this space and everyone was just speculating... no one knew why.
Then I thought to myself - maybe this is an opportunity to buy more. And then I realized how effective and timely the sunk cost fallacy was. Here I am thinking of burning more money when I had no idea why the current crash took place.
Over the last 24 hours, I have refreshed my phone many times to see if I got my money back. People who are believers say this is expected and bitcoin will still march towards a ridiculous high. I hope that is true. I have already made very detailed plans to be rich so I hope my planning wouldn't be for nothing.
She writes about the plans as a fictional character. Bitcoin does okay, but it's her writing that sells her onto private jets and sun-soaked smiles.
Just think back to the gold rush. It's not really the gold-panners/small-time-propectors who got rich. It's the people who were part of hte infra selling that dream. The saloons, the tool sellers, the inns.
If you think about crypto/defi(decentralized-finance) this way then it's prob better to focus your energy on being part of the DeFi infra rather than be a DeFi gold prospector
I am driving myself crazy Brandon. I have a few things I have planned after which, I will stop checking. This is not healthy.