What is YOLOing?

YOLO - You Only Live Once : is an internet term for taking reckless and risky endeavors with the idea that life is short for not taking risks.

So YOLOing is when you take on risk with the assumption that if you lose then you are Okay with that and can live with the consequence.

Should you YOLO into the current bear market?

Well yes,

Ok so you might be expecting some voice of reason from me.

But its more than just a simple yes, its more like a:

Well yes, but actually no

What am I even talking about?

Ok, so here the thing, in simple words don't YOLO your entire life saving.

Simple concept actually:

Don't invest what you are not willing to lose.

The Crypto Bros...

The Crypto bros may have you believe that some coin or token is going to the moon and you need to put in as much as you can.

You'll find many such "Bros" on Reddit but you are better off ignoring them.

No one can predict the future and that is a fact:

What about this Crypto...

No matter how good a Crypto is the unpredictability of the future will remain for everything.

Things happen,

The Pandemic is the proof how destructive Black Swan events could be.

What about BitcoinCash?

Our beloved BitcoinCash is what we all trust and rally behind (with good cause by the way) and while the likelihood of BCH succeeding is quite high among the probability scale, nothing is an absolute 100%

What is a giant solar flare destroys all electronics on Earth and we return to a medieval society. No internet No Crypto.

What if a deep space gamma burst destroys Earth's atmosphere and it is no longer an habitable planet. No Humans No Crypto.

^^^ Ok, so those are way too extreme examples ^^^

But something like a different technology replacing Crypto or World War 3 reprioritizing human needs are quite the possible scenarios.

Furthermore, people could just one day simply wake up and say "You know what! Crypto is no longer useful"

No matter how unlikely the probability it is, even if it is 0.00000000001%

Still that is an possiblity

What should you do then?

Hide and cry some where, NO.

Diversify

Keep both stocks, Crypto, precious metals, etc.

But more importantly

Don't invest what you are not willing lose

Or rather you can afford to lose

Pay your bills,

Buy your Groceries,

Keep some Cash for emergencies

And then invest what you have left.

If you truly believe in a coin or a token YOLO into it but only the extra amount you are willing to lose.

YOLOing isn't a bad thing

If done right,

Some people put the amount that they had for paying electricity bills into some Crypto hoping to get a big payout and then pay the bills from the profits.

Don't do that

If you want to YOLO

Then take the amount you were going to pay for that starbucks coffee or that krispy kreme donut or for that fancy dinner at a nice restaurant and YOLO that.

Because you can get by without eating a donut for a month or drinking overpriced coffee but you can't get by without electricity or water or a roof over your head.