How has Crypto and Blockchain Technology Impacted my Personal Finance?.
The Impact of Cryptocurrency on my personal Finance and my awakening.
The Awakening
I refer to my introduction to cryptocurrency as my great awakening because I feel like my eyes were opened to not only a new economic system but also precipitated my reappraisal of my understanding of my then current ecosystem.
Understanding Cryptocurrency required a reappraisal of everything I thought I knew.
It was like an economic conversion experience. I couldn’t determine the importance of the stated differences between the traditional banking system and the cryptocurrency blockchain system without comparing them side by side. This required me to analyze and deconstruct each system to understand the Positives and negatives of each system.
I will never look at Banks the same.
I must state for the record, that as I transitioned from teenager to young adult, and from living at home, to living independently I had to deal with banks and banking rules a lot. And they angered me, because I thought the rules were simultaneously arbitrary and self serving for the bank.
This was compounded by my experience that no matter my transgression, if I gave a polite friendly explanation, and took complete responsibility for the issue, all would be forgiven and whatever fees or penalties had been assessed, would be redeposited back into my account.
So my new education revealed the purely profit motive of many of the rules and penalties. Which I always suspected, but my suspicions were confirmed. Now I would never see banks the same, now they were the friendly neighborhood profit center.
My investment Strategy Changed Forever
I had been involved in stock investing most of my adult life through self directed 401k and IRA plans, but my introduction to cryptocurrency also opened my eyes to the speculative nature of my investments and shaped my transition away from popular speculative stocks with no dividend, towards older, brand name companies with historical stock value appreciation and quarterly dividends.
My focus changed from employee to owner
I stopped thinking like a passive investor waiting for my stock price to go up to make money. I started thinking like an owner and started thinking of ways to make my capitol work harder for me. I switched to dividend paying stocks and started selling calls on them every month for monthly income. I called this triple dipping or making money three ways: stock price appreciation, monthly covered calls and quarterly dividend payments.
I am forever changed as a person. I am one of the “Awoken”.
I am one of the Awoken, a term I created to represent people who have studied and understand the traditional banking and investment system and now act like an owner by taking charge of our capitol and making all our investments work for us. This owner mentality applies to my cryptocurrency investments also. I don’t want to simply buy and hold. I want to be part of the community of the crypto token, and I want to make my money invested in the crypto work harder. That’s why I love delegated Proof of stake, because I earn interest, and I can use my investment or stake to generate curation rewards, through manual curation or delegating to a manual curator, or lease my stake, or wrap it and provide liquidity in a liquidity pool on an exchange.
My outlook is brighter and more hopeful
Because I feel more in control of my money and my investments I am happier and more optimistic. I feel like the knowledge I have gained about making money means I will never be hungry or homeless. I will always be able to provide for my family and this makes it easy to both sleep soundly and react differently to unexpected bills. I am confident I can earn money.
I am empowered
This feeling of control over my money, my finances, my future and my destiny is both liberating and empowered. My confidence has soared and I have learned many new skills because I feel like my potential as a person is only limited by my vision.
I am like a Lion, who feels like a King in the Financial jungle of the world. Thank you crypto.
Other Posts by @shortsegments
The Star Trek Borg of social media finance blogging: Leofinance
Ethereum 2.0 Proof of Stake Transformation
Six ways to earn Leo Token and Ethereum onLeofinance
Thorchain: Atomic Swaps and True Decentralized Exchange for cryptocurrency
Blocknet: Atomic Swaps and a network like the internet for crypto blockchains.
Posted Using LeoFinance Beta
Posted Using LeoFinance Beta
