24th January 2022 19/24
Hello Hello readers. I hope you had a relaxing and productive weekend.
They say that variety is the spice of life and I tend to agree with that. I am not a fan of the same old same old, I love to try different things and enjoy them.
I was on Twitter yesterday and I came across a tweet with a video in it.
So essentially it was four-pointers about investing in crypto from @MarcDeMesel and I did something that I have never done before. I watched a video from him and must admit that I was impressed.
If you have not watched the video, it is below, I would recommend having a watch. It reinforced my thoughts on crypto and I was happy to see that he had made some booboos similar to me lol.
Here are my thoughts on his four pointers:
1. Don't invest in what is popular, look for unpopular projects with good growth
This is one that I can relate to in life lol. I tend not to follow the crowd and would rather do my own thing. I have always supported the underdog or little guy too. Crypto is like shopping, it is all about value. So look for the value in a project and if it looks like it has good growth prospects and is legitimate then go for it.
2. Do not fall in love with 1 project but diversify over multiple
I am sure that some of you will have been introduced to crypto via read.cash and noise.cash which is great, but you might only have BCH. One thing I have discovered is that even when crypto is crashing there is a coin or alt that is pumping away somewhere. Even with the things that we do online, it is good to not put all our eggs in one basket. For example, if you write, well you are reading this, so I assume that you are, then you could be earning different crypto by writing on hive and/or publish0x If you love sharing pictures or microblogging on noise and getting your BCH then there are other apps that you can earn different crypto with, such as Appix and Pixies
Don't get me wrong, I love BCH, I love how smartBCH is growing, but compared to many other projects, it is not sexy. It has some amazing features and should keep growing. Other projects are out there that have great growth and some good ideas.
3. Keep winners, cut losers
This was interesting. I have been guilty of selling part of a winning project and investing in a loser. If I had kept my investment in the winning project it would have won some more, but no I lost the further winnings in the winning project and then lost the winnings I had won by investing in a losing project. Does this make sense? So ditch the losers but keep the winners going. Here in smartBCH I am sure we have all done this.
4. Sell all when bubble
This is a good one, I have known people see 100x rise and keep their holding only to see the project either crash and burn or be rugged. My thoughts are don't be greedy, get out before that bubble burst!
As a general note, @MarcDeMesel said that he had not got into NFTs. I am now having second thoughts on the whole NFT landscape unless you are capturing 10% of a minting, which is something that I will not do. In fact I have an article planned about NFTs.
My advice on NFTs is to look at the potential growth and roadmap. Is it just a bit of overpriced pixel that you hope will be rare, and then isn't when you mint it and the market is flooded so you can't sell it and now have lost? And don't like I have seen some people do, buy with your credit card, that is gambling big time.
Thanks for reading and have a good one!
Copyright @TengoLoTodo 2022 and yes All Rights Reserved. All images, words, and ramblings are from the author unless otherwise stated.
100% original content from this mad Scotsman
It is good to accumulate BCH and as for NFTs well as long as you did not invest then it is okay if they do not work out.
I will watch the video, but point 3 also have to do with cutting losses, it has taken me a while to get used to getting out quickly if I see that the project is losing and looks like a shipwreck in the hope of recovering something, but I have learned some lessons. And the thing about selling in the bubble also relates to realizing gains from time to time, and do not be greedy.
As for NFTs, I have a draft on the subject, we are in sync. I'll be looking for your approach on the subject. And regarding BCH I better don't write here what I think, we'll talk later ;)
Yes cutting your losses is hard but required as not all projects will be winners, and NFTs yes I think we are alike, and do message me I am intrigued now Eli!
Of course I will write you one of these days when I get some peace of mind. But I don't think it's something you haven't thought of.
Thanks po, this one's informative and very detailed. And I have seen Mr. DeMesel in Odysee because I am a member too :) I did regret not selling BTC when it was high, now I lost half of my portfolio :(
Things go up and down, all is not lost Glessa and what is Odysee
I am glad that you are now following a winner and I wish you much success in your performance.
Thank you gertu, it is good to hearwhat different people think
Ahh these are good pointers oh.. I want to diversify on my crypto portfolio. For now I only hold. Few coin but I want to get more
It is good to have different ones, just research before you buy
Thanks bro
sell all when bubble.. will keep this in mind... and now thinking of thrones NFT.. will check the price and sell it if its good.. :)
Enjoyed this article :)
I will list all of mine, and see if I can sell any, I doubt it though. Yes predicting the bubble is hard though, thank you it was good to listen to him, never done that before
It sounds pretty convincing too that we invest when the platform is growing or in other words it's still young. it could also be to grow and make a profit there. maybe this is talking about the early opportunities of the formation of a new platform. this is a reasonable thing. clear
Yes and seeing who the developers are, do they have history etc, is it popular , yes get in early and it can be a success for you.
This is nothing but "do not keep all your eggs i same basket" .. plain old saying from our master here :))
and don't forget timing!
Marc was good in terms of Crypto, he is a good adviser.
He is good as he admits his faults
Those are worthy ideas!
Simple common sense but effective
Sell all when in bubble would apply me. Even after goodd returns I tend to hodl and it crashes and never rise again
It is hard to do, and then when it goes down, you still hodl because it Might pump again lol
Indeed, hype can be a pain in the ass
Agree, we have to choose which project will surely bring growth, if problems occur we have to diversify our portfolio.
Exactly, it is also good to see how other projects work!
You have to follow the winners, I congratulate you. With all the NFT that I have entered, some have fallen faster than others, I have only lost time because I did not invest in them, they did not give me the opportunity, better that way, haha. But I did lose in one where I was loitering, it was not a lot of money, but it is necessary. As for the cryptos I am accumulating BCH to be able to invest.