Learning In Crypto: An Underestimated Aspect To Profiteering?
I was watching a show yesterday called Nigeria Vs Food the guy was tasked to eat 4 fried bacon and 2 turkeys In 5 minutes, on the surface this was easy, the guy boasted that he could even do it in 2 minutes, but at the end, he failed to even eat it all in 10 minutes.
The first thing was he overestimated himself and secondly, he attached too much simplicity to the challenge.
This is the same with crypto, so many people out there, are aiming to improve their finances with crypto, in their mind, they create a worst-case scenario, too easy while creating a best-case scenario that's crazy.
Being Too Logical About Crypto
Someone told me in 2018 that since Bitcoin spiked to 20k in December 2017, the logical thing was for it to crash to a worst-case situation of 10k and wouldn't go below that, he was wrong.
The truth is, too many people are too logical when it comes to the concept of crypto, it creates a mundaneness to the technology behind it. On Twitter, some people are studying charts 24/7 checking the crypto pattern, to see if they can understand the logic, or create a formula to essentially educate others and even make money for themselves.
It's true that sometimes, the hard work of these people eventually pays off, but sometimes, when they predict a moon, a crash might just ensue, proving that it might take a very long time for people to correctly predict the crypto movements to a degree of 100%.
Ponzi & Crypto
Some have dedicated their lives to understanding crypto, this is because they know they cannot underestimate it. You might invest everything you own, thinking that the extent to how far you can go is how far you can win.
I mean, there are so many people who are real-time gamblers, gambling on the "more money, more reward" mindset, it's easy to use real-world situations to calculate your affordability of risks, the same goes for Ponzi.
I mean, the concept of "robbing Peter to pay Paul", is quite easy, having a basic input and willingness to take the risk is all it takes and bringing this mindset to crypto, is like trying to use harpoons to catch panthers because it's a weapon too.
The Unpredictability You Do Not Want
Categorically speaking, we cannot afford to categorize crypto, I understand it can be frustrating to newbies. Some of them would ask "if I invest now, can I buy a new car by next year?"
While one can even afford to buy a house, they might be sleeping under the bridge after that one-year interval. The first part of the sentence seems exciting, but the second part is unmotivating, but the truth is people have to stop creating the "worst or best case scenario" thingy in their mind and study the damn tech.
Placing an estimation to Crypto is what no one can correctly predict, we often use the right tool and information to speculate, and that's why we still lose, even when we're winning.
Crypto Still Rules
But we love the beautiful game, I mean, what's the fun when everything comes easy? How do we become wiser, when we cannot even put our intuition on the line, to figure out one's next course of action?
People who are long in crypto would tell you that the uncertainty is fun and this is because they have personalized it. The possibilities of moon and dips are more complicated than they seem, however, some others have placed their strategy on the Inevitability that Crypto should do well in the long term. Everyone needs a strategy.
Our real-life economic environment and endeavors can play an important role in how much we can understand crypto, there's always a situation where we need to be creative, taking time to understand the whole thing, learning is also part of making a profit.
Interested in some more of my works?
The Intrinsic Propensity To Spend Money
Poverty: The Unwillingness To Spend?
A Scenic Bathroom Photoshoot
The Importance Of Having A Contingency Money Plan
Translational Value; What Is Your Worth?
Using Crypto As A Means Of Transferring Will
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