Perhaps what I am about to say here is going to have many calling me Captain Obvious. But that's okay. If just one person hears me out and has a light bulk pop up above their head, then I have accomplished my goal for the day.
If anyone has been paying attention to the crypto market, and I suspect pretty much anyone who is here is doing exactly that, it's literally in the dumpster and flies are beginning to gather in massive numbers.
It's ugly out there, folks.
What have I been doing about it? Buying, of course. Because I believe this massive retraction is a good opportunity to accumulate more crypto that I happen to believe will be more valuable into the future.
You would think anyone would be doing the same thing. But as I wander around and about on noise and read telling people that they should at least consider buying more into the coins they believe in, there is one common response I get.
"I would like to buy more, but I don't have the spare cash."
I would normally take that opportunity to scold anyone for having poor financial management skills, and tell them point blank that they should work on fixing that and getting their financial house in order at once.
But that's for another day.
What I want to do instead, in this moment, is take an opportunity to remind people that we can invest in at least Bitcoin Cash in one of two ways. We can buy it, of course. Or we can earn it.
What the current state of the crypto market has afforded you is a pay raise. That's right. The dollar amount you earn today may be the same in terms of dollars and cents. But what's more important is not the current value of each coin. It's the value of how many coins each of those dollars represent.
Let's say yesterday the value of 1BCH was $750. $1 is essentially worth 0.0013 BCH. Now take its current price, hovering around $450. Now $1 is worth .0022 BCH. That may not seem like much difference, but it is.
Let's say the value of 1BCH in a year from now is worth $1000. The $1 you made when the price was $750 is worth $1.30. But the $1 you made when the price was $450 is worth $2.20.
Each dollar you make today while the price is lower is potentially worth twice as much as it would have been worth when the price was higher.
So, by increasing the amount of time and effort you put into whatever you do to earn BCH now is exponentially more rewarding, and is essentially the same as making a monetary investment into it.
That all aside, I do think it is important for people to be more prepared to take advantage of opportunities when they arise by setting aside a few extra dollars when things are up, so that if things go down, they can buy in where they feel it is appropriate and wise to do so. But again, that's for another day and for another article to explain why it is important to do that, and to further explain some ways this can be accomplished.
As well, if you are staking coins, now may be a good time to transfer more into those interest bearing opportunities because you will be transferring more coins when you do so. When the price goes up, those coins will be more valuable, as well as the coins in kind you will earn on them in the meantime while you wait.
As the old saying goes, time is money. Right now time is more money.
Lead image courtesy of Pixabay, user stevepb. Coins Currency Investment - Free photo on Pixabay
Sometimes time is more valuable than money. We can't rewind time and turn the hands forward. Time has no price!