How would you invest $1,000?
Imagine that you were given $1,000, and you are allowed to use the money to make an investment of your choice.
Investment: The act of using money in order to achieve a profit.
Now imagine that your $1,000 investment is guaranteed to multiply 10x (to a total of $10,000) but no more. This entire process takes 365 days.
Right now go to the comments sections and share with us:
- What would you invest in?
- Why did you choose that investment?
Once you post your comment, return back here and finish the rest of the article.
What type of investment did you choose?
There are a wide variety of investment options:
- Steem, Steem Power, and Steem Backed Dollar
- Other types of cryptocurrencies
- Interest earned from fiat currencies
- Stock and bonds
- Land and real estate
- Collectibles
- And the list goes on.
We often run to investments that we feel most comfortable with. Did you run to Steem and SBD? Cryptocurrencies? Something else?
How did the 10x guarantee sound to you?
The 10x guarantee sounds great, and it is an incredible rate of return. But what if a limited 10x return causes you to miss our on a 20x, 30x or even 100x return.
Guarantees are nice, but they come at a cost - the possibility of an even greater return.
Are you willing to wait 365 days?
A year is a long time to wait, especially in the cryptocurrency world. We live in a time when patience is a lost art. Most of us want instant results. Most of us would find a spending opportunity instead of waiting for an investment opportunity.
Your Turn
Let's continue the conversation. Now go back to your previous comment and edit it or add a new comment. Have your thoughts changed since your initial response?
- Would you choose a new investment opportunity? Which one?
- Would you prefer a guaranteed return or would you accept more risk to gain a larger potential reward?
- Do you tend to wait for an investment to develop or do you tend to spend?
Thanks for stopping by. I look forward to hearing from you.
@sumatranate
Image Source: https://pixabay.com/en/coins-currency-investment-insurance-1523383/
Based on the requirements that you indicated, I would invest in Steem and power up to SP so that I could gain visibility on the Steemit platform and have stronger voting power. This avenue would allow me to consider other potential investments simultaneously.
We would all be happy if Steem increased 10x. I think that you investment ideas is solid!
By increasing your voting power, you can support more people and grow a larger audience.
Keep your 10x guarantee. I am going all in on crypto. I would love to say Steem but I do not know if it even has a 10x in it this year. I would probably spread out among some ICO's and some more well known but newer cryptos that have been slaughtered in the past month.
I was hoping I would receive a wide range of responses. I am guessing that you like to take risks. There are some great deals right now in the crypto world. If you guess the right 1 or 2 then you could be looking at a return much larger than 10x.
Thanks for stopping by and adding to the conversation.
I'll take my chances and go for something greater than 10x. So far this year I'm just recovering what I had from December. One of the big reasons we're all in crypto is the possibility of the life changing "x's," so I'm going to keep learning, keep pushing, and keep trading to make my riches.
Thanks for chiming in. I do believe that some cryptocurrencies can be larger than 10x. We have seen it already, but we have also seen large dips as well. In this scenario, I forced one decision, but in real life, I think that a diversified approach is best. A lot of this type of deicions depend on how risk adverse a person is.
I'd definitely go for the 10x return in a year, those are unreal returns. Crypto is a long term play, and although I'm 100% convinced that blockchains are going to change the world, having your life savings in an asset as volatile as crypto is right now is unwise. We've all seen the stories of people losing fortunes because they went all in on bitcoin while they still had a mortgage to pay. Be smart with your money people, and if you keep some cash or alternate assets on hand then you can play the dips and tops of the cryptos more easily. 100x returns sounds great but 10 years of paying back debt/bankruptcy sounds worse.
@bobocobo, I agree. I wonder if some people read 10%. I support diversified investing. Hopefully people are not putting all of their eggs into a single basket, otherwise, they might end up on the wrong side of debt.
It is all about the calculated risk, and guaranteed returns. Thanks for stopping by! I appreciate you adding your point of view to the conversation.
I would use it all to buy Steem, power up, and increase my ability to earn Steem in the future.
@samuel-swinton, that sounds like a good plan. If I had some extra money that was not being allocated to something else, I would love to power up on Steem. I was fortunate to use some earnings from other cryptocurrencies and buy more SP in December (right before prices spiked).
Keep moving forward and keep Steeming!
If I ever get ;) I would exchange them for increasing the strength of my voice (SP).
Good choice. I took some earning from other crypotcurrencies and reinvested in SP. I am glad I did.
Well for me i will invest it in steem and also to power up because i discovered that your power level determines 90% of success here because people will love to follow you up on every post you make.
I look forward to three months time when steem and steem dollars hits $50 or 60
It is very important to increase your SP. With more Steem Power you can provide large upvotes. And when you can give larger upvotes people are more likely to follow you. I think that goal is a good one.
Keep pushing forward and keep Steeming!
I will. Thanks
thank's for that information @sumatranate
You got a 10.82% upvote from @upmyvote courtesy of @sumatranate!
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