Counting your Chickens
We all know the saying
(image from Pixabay.com)
Yet it can be very hard not to be counting those chickens. Every day, especially on the Hive blockchain and its tribes, we hear all sorts of speculative calls. There is a lot of hype building up, and rightfully so!
I have been hearing calls for $10 Hive (I even read a case for $1000 Hive), $10 LEO, $300,000+ Bitcoin, $10,000 ETH, $30 CUB. It is hard not to start counting those chickens. If Hive hit $1000, I would be a millionaire. See? I just counted some chickens... it is that easy.
Hatching some Chickens
(image from pixabay.com)
So, how do we "hatch" these chickens? This is a little more complicated. With the world of cryptocurrency changing so rapidly and legacy economies crumbling before our eyes, this is a hard call to make. What I do know is that it involves having a long term strategy that is less involved in speculation and more involved in your future lifestyle. It could mean selling your crypto for fiat. It doesn't need to mean that. It could also mean developing a lifestyle where crypto is how you pay the bills.
What that means is we need to stop saying if... then... The best bitcoin prediction that I ever saw was that 1 BTC = 1 BTC. That is the truth. As crypto continues to overtake fiat, at some point, saying that bitcoin is at $60,000 will be irrelevant. One day we might say that the dollar is worth 1 millionth of a BTC.
A lot of crypto veterans are constantly growing their BTC. There is no concern for fiat as they have already exited that system. That is not to say that they don't trade some BTC for some USDT from time to time, but the idea of Bitcoin being an egg that is yet to hatch is an old concept that has played itself out.
Most of us
The truth is, that most of us are not out of the woods yet. I am enjoying the gains that I am seeing, but need to go to work to feed my family and pay my bills (and my debts). I do have a plan that is continually developing. I also have goals. The two are separate but merge.
Let me explain. I am watching markets go up. It appears to me, yet I have been wrong before, that the markets are still trending up and may be for a while. My PLAN is to take profits are markets rise, slowly at first and more aggressively as they reach a peak. (Easier said than done). My brother called the top in 2017 to the day. I didn't act on the call, and should have, but he saw the top blow off and called it perfectly. The plan involves taking profits in the form of fiat to pay debts, gold if we did good, and keeping some crypto on CUB finance and perhaps some BTC in cold storage.
My goals are different. They are linked to my plan, but this is all to early for me to see them linked. My goal is to be out of debt, to be a Hive Orca, LEO Lion and Proof of Brain Whale. My goal is to have 1 BTC, 1 ETH and a decent portfolio that stretches beyond what I have mentioned.
Don't we need to count?
To meet my goals, I do need to look at the eggs and the baskets I have to help my plan develop. My primary goal for this "bull market" is to get out of debt. If I can get out of debt, that would be great. My secondary goal is to build the foundation for my future crypto portfolio.
So, how good we do on getting out of debt really depends on how the chickens are growing in those eggs. If bitcoin hits $___ and Cub hits $___ and Hive hits$___ then I can do _____ and keep ____.
This is a real work in progress. It helps to keep track of where these eggs are at as my goals are still exiting the legacy economy to go full blown crypto. Things are shaping up well, but as it stands, I am not quite able to make the grand exit. Things can change in crypto really quick.
Proof of Brain
Things can get crazy as an early adopter of any crypto. You see opportunity and go for it. This is what a lot of us are seeing in proof of brain. Many will inevitably be using that as a strategy to grow their holding elsewhere. They will jump into a new project, wait for some good gains and then sell off. There are always buyers as well as sellers. There are also long term project believers. This is me. I look at the proof of brain stack growing and am really excited to be early in on it (and kicking myself for not jumping in earlier...).
Conclusion
A lot of people are saying sell into fiat at the top. A lot of others are saying that fiat is dead, sell into stable coins on your trusted DeFi site(s) at the top. Others are saying the institutions are going to buy BTC into the mainstream and this is the beginning of the end of fiat and the last big BTC drop is behind us. A lot of others just don't quite know. I fall into that last camp. I know my goals. I am going to achieve at least one in 2021 (or 2022 if things get really juicy). Barring some unforeseen crash that blindsides me, I will get out of debt. My chicken counting is pointing towards that (but we still all know the saying...). Where will I end up in the crypto world? It is far too soon to tell. I could potentially get out of debt by just selling some CUB. I could get out of debt by moving a fraction of my BTC. How far up we go will tell the rest of the tale. I have my priorities set. I am mentally prepared for the hype. I am 2017 trained. Let's do this.
I'm not counting my chickens, I am just getting prepared for harvest. That's different... right?
