In the words of Warren Buffet...sort of. Why should you buy bitcoin?
Alright I will admit it. I am taking a few liberties using Buffet quotes to convince myself to stay in the cryptocurrency game long term...but here goes.
Why do I think I want to invest in crypto? It is all about the future; particularly my future and my family's future.
There are many people who look at the crypto platform as a quick way to make money.
It sure can be. But how can somebody create wealth out of this.
I am using Buffet quotes because the man is the pinnacle of using patience to the max extent when investing. This is how to extract more than a flashy car out of life.
People jump in and out of crypto trying to make a quick dollar. Some succeed, some do not. I believe that if you want to make the most out of your trading it will, like Buffet, take patience.
These quick trades, jumping in on pump and dumps, crying when you get stuck in the dump, are a sure-fire way to lose. I know, I've done it. I've made some gains and then threw them away trying to play. If I had stuck to my guns I would have been way ahead. Patience pays and I've paid someone else for theirs. Time for someone to pay me for mine.
What are the dangers to not practising patience? Buffet says it best. Now mind you he meant this in the traditional stock world but it certainly applies in crypto.
Keep this in mind when you are considering crypto. You will probably fare far better by investing in a coin that represents something you are comfortable with. DO your research, invest what you are willing to lose, and stick to your guns.
We are participating in the beginning of what could be among the largest transitions of money that ever happens. If you're not careful it will be you transferring your money to people who research their choices and are patient.
Just my thoughts.
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a very interesting post I am still learning all about this so great to read others thoughts
Thanks tattoodjay. Patience is not a virtue of mine so definitely a lesson I am trying to learn as well. :)
Love it. I believe being patient is the best way to profit. Look at coins and think long term. Its much easier to think long term than to take a gamble at a short term prediction.