Make Profit in Cryptos to Spend it
Hello steemians... its gonna be a short post today since i am extremely busy due to some domestic commitments.
Greed is the most henious of all sins in this world.. because it causes you more harm than it does to others..
The whole point of investing in cryptos and getting massive profits from them is to spend some of it to bring luxury into your life or augmenting your monthly incomes (for some people).
However, from what i have seen so far that greed gets the best of us and ultimately we end up losing our hard earned profits by investing our entire profits in more cryptos and then we lose those profits..
Use Profits to Make Your Life Better
An example of it is @ilyastarar, who recently bought a much needed car and when he was little short on his payment, he cashed out his steem and bought the car. Though he felt a bit bad to have spent his hard earned steem but after a little chit chat session, he calmed down and realized that he just bought a friggin’ car with the help of cryptos and its actually a huge deal. So kudos to him :D
Hence, it is always advisable to cash out some of the profits and use it instead of circle jerking your profits by reinvesting them into crappy coins only to lose those profits..
I have been a victim of this greed and I speak from my personal experience.
But What About Hodling?
Aah yes.. the hodling.. like many people say that the first rule of cryptos is to HODL. This is true but to some extent. You have to put a limit on it. Otherwise, you will make your life difficult by pouring in your cold cash into cryptos forever and not getting anything back.
Happy Investing, Happy Making Profits and Happy Spending...
The cryptosphere is not in a good mood right now, but this post is very encouraging
Thank you very much...
You got a 19.58% upvote from @minnowvotes courtesy of @discernente!
Hodl few, trade some, cashout others. The kind of market that is around for 5 months now is very devastating. It's hard to make good choices when everything is destined to go down.
I sold Steem to pay some of the fees associated with car purchases and it was a good decision. I sold at higher price though. I sold again to reinvest into other coins but again at a good price.
Continuous investment is not sustainable. Continuous withdrawal will leave nothing behind. I think a balanced approach is necessary. It's good to spend money, as well as to be invested in some good projects.
Yupp.. it is a disaster.. specially when people like u and i have seen the boom back in december and january, it is hard to swallow these current market rates..
Words of wisdom @jbn. There is no need to go after money all the time. If you can't enjoy your earning it is useless so you should taste the every bite.Thanks for sharing @jbn
I really have imbibed spending them for domestics..
I dont know if its a great idea.
I love ypur post
Thank you.. and it is always a good idea to spend the profit.. it makes the profit real.. otherwise its just on paper..
In the midst of my friends i look like a lavish spender..the outcome is a little bit awkward.
They always give me reasons to save it
Yeah, what good are profits, if they are not used to improve one's life quality...
I would say split profits in 50-50%...50% reinvest and 50% cashout...
Yesss.. pretty much.. thats a rule i like to live with...
Greed is a bottomless pit which exhausts the person in an endless effort to satisfy the need without ever reaching satisfaction.
I also think we should use our profits in investing various things as you have mentioned the above example. That example is pretty cool
Thank you very much mumin...
Welcome
awww so true and timely reminder to me, especially the last one, yes HODL hahahah .... sbd too low and so is btc... thank you so much for sharing sir and God bless po :-)
Hehehe thank you po
The thought or "thought energy" around the emotion of greed is one of "lack." I don't have enough. I need more. More. More. More!
What is the universe's reward for a mindset of "lack?" More lack. More loss. It's an old concept and an old saying. What happens if you squeeze the sand in your hand too tightly? You lose it.
Are our coins like that sand? Crypto P&Ds. Scam ICOs, whale manipulation... These are beyond plain desire. It's certainly greed.
Stay loose and stay appreciative for what you have.
On the other hand, greed is often an important driver behind companies and individuals backing projects they believe in. But greed and belief in a better future aren't necessarily mutually exclusive. Do I want my portfolio to moon? Hell yes. But I also want crypto's and the blockchain to succeed.
Thats some next level philosophical talk.. but you are right.. spot on..
Thats some next level philosophical talk.. but you are right.. spot on..
Maaaaan! This is golden.
What a powerful wisdom-filled statemen there. Well said indeed.
I must say you've got a good example there. @ilyastarar felt the pain of spending his hard-earned Steem & SBD but at the same time he is feeling, up till this moment as we speak, the pleasure of owning and cruising a brand new car of his own.
Good to do away with undue greed indeed.
Yea thats exactly what i told him
yes the cryptos must be spent
Yes very true
and the girl in pic is very cute