Can't Win The Lottery Unless You Play

in LeoFinancelast month (edited)

I'd rather lose 10 bucks than miss a 10,000x.

It is true that the cryptocurrency industry has provided us with opportunities never seen before, and the best part is that there's probably going to be many more of those. I do realize this is a bold assumption, but I think all the signs are there.

The recent DOGE pumping frenzy is all the evidence you need that the game is still in its infancy stage; it's all about hype to these kids. The blockchain technology has the potential to change our lives for the better in so many ways, yet most of us are just looking to use it as a means of generating and accumulating wealth.


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I'm guilty of that too, but isn't this a noble cause? Money makes the world go round, and we all need it to cover our life expenses. Personally, I see it as a way to buy back all the time I've spent working by not having to sell my time for money in the future. It's not about the money itself, it's more about the quality of life it brings.

After all, you only live once, so having to spend one third of it working for someone else isn't what you would call a bargain, is it?

Let's cut to the chase.

I wrote a post about how DOGE has been outperforming all the beasts out there the other day, when @ezrider dropped by and left a comment that made me stop and think about it. Of course, I didn't mention anything about how I dumped 235k DOGE back in 2015, not only because I'm trying to forget about it and move on, but also because my DOGE stake was all farmed. I never invested a single dime in DOGE.

Yeah, I'm that stupid. It appears that my seven-year-old niece is a much smarter crypto investor than me. It is what it is, that's why I always warn you not to take my word for your investment decisions. I don't know what I'm doing here.

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The conversation went on, and EZ left another comment that makes sense to me. Some would argue that this is gambling, but in my humble opinion it's worth risking to lose just a few bucks when you could potentially make hundreds of thousands just by buying into some low market cap gems that show promising signs and forgetting them for a few years.

As a matter of fact, things would have been better for me had I just decided to do just that with my DOGE stake, and the fact that I earned all those tokens without ever investing a penny makes dumping them for peanuts an even worse decision.

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Of course, the crypto game is full of shitcoins with no future, and more and more of those are popping up out of nowhere as we speak. As you can understand, this can be a very risky hobby, and this is exactly why I'm talking about literally tiny investments. Now please just don't go around buying up every scamcoin out there blaming it on me; I'm just a guy blogging about his personal views and experiences, and you should never trust anything I say without looking it up on your own first.

TL;DR

The point I'm trying to make is that BTC, ETH, BNB and the rest of the beasts out there are not going to give you a 1,000x at this point. Sure, nobody has a crystal ball and everything is possible in crypto, but let's face it: 1,000x on BTC would drive its market capitalization all the way up to $1 quadrillion. I can't see that happening within the next 100 years. But yeah, I may be wrong.

Also, do not underestimate the power of small steps. You don't really need that 1,000x to make money in crypto. Go for the first 2x, try to get another one and then another one, and there you have it. Small wins here and there will do the trick for you, and that's where you should focus on. However, in case you have a few extra bucks laying around that you can afford to lose, pick one or two absolute shitcoins and buy up loads of them.

Just make sure you don't end up holding a million different useless tokens. I know this is the kind of mentality that sent freaking Dogecoin to the top four, so please don't hate me for this post. Trust me, I hate DOGE more than you do.

I'm just speaking from experience here :)


I appreciate your attention.

Alright guys, that's it for now. Thank you for taking the time to read those lines.

Just my two cents. This is by no means financial advice. Just sharing my personal views and experiences. Please do not take my word for your investment choices, and always do your own research.

Stay safe and have a good one,
@lordneroo


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Such a valid point and one I try and tell people all the time. We are in an age now where people laugh at a 10% gain. A 10% gain in the stock marked use to mean you where a god and doing good living the good life. Then we moved into 30% gains and quickly into crypto of 1,000% gains and it just makes the entire stock market a joke right now.

People are out there looking for the big gains again and that wont be coming from Bitcoin. It would take nearly 1.5 trillion to 100% bitcoin again. I believe soon once Doge does hit $1 that we will be on to finding the next big crypto and I'm curious what one it will be. In the mean time any worthy or semi hyped decent blockchain that's well under $0.01 I've been investing in. $100 today could be $100,000 in a few years and the risk/ barrier to entry is crazy low.

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I agree with everything you said.

Have a good day :)

!LUV 1

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Hi @bitcoinflood, you were just shared some LUV thanks to @lordneroo. Holding 10 LUV in your wallet enables you to give up to 3 LUV per day, for free. See the LUV in your wallet at https://hive-engine.com or learn about LUV at https://peakd.com/@luvshares

This is the best article I have read today on Leo Finance. Thank you so much @lordneroo and @ezrider. This has totally changed my perspective about the 'DOGE' saga.

Taking those baby steps is very much important in this space. You cannot win by chasing the hottest thing in crypto, you will win by chasing several things which have the potential to become hot in the future.

It's totally worth taking the risk of spending $100 or even $1000 because you just need to hit one nail out of many of those small investments. This is why I buy shitcoins (for now) and non-shitcoins (as per my research) for a few dollars every now and then just to have fun. 😂

My 'fun' could potentially change my life and I am ready to do play such a gamble.

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You cannot win by chasing the hottest thing in crypto, you will win by chasing several things which have the potential to become hot in the future.

Sums up what I've been trying to do for the last 2 years or so.

It's totally worth taking the risk of spending $100 or even $1000 because you just need to hit one nail out of many of those small investments.

The amounts that do not matter are different from one investor to another, but I get your point.

Make sure you don't spend a big part of your funds buying crapcoins that won't survive. Just a few bucks and you'll be fine if they go berzerk. Focus on stacking the ones that will undoubtedly thrive in the future.

Thank you for the nice words :)

!LUV 1

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Make sure you don't spend a big part of your funds buying crapcoins that won't survive.

Never ever. 😁

Focus on stacking the ones that will undoubtedly thrive in the future.

Aye Aye me lord. 😎

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Hi @finguru, you were just shared some LUV thanks to @lordneroo. Holding 10 LUV in your wallet enables you to give up to 3 LUV per day, for free. See the LUV in your wallet at https://hive-engine.com or learn about LUV at https://peakd.com/@luvshares

I agree with your points wholeheartedly. As someone who went into cryptos with 0 capital, it took me a long time to get to where I am with my port. There were a lot of sacrifices and waiting involved, but the key is to just hang on tight and celebrate the small wins.

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I agree, growth is a slow process. You will make it to the top one step at a time. Keep up!

!LUV 1

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Hi @jedau, you were just shared some LUV thanks to @lordneroo. Holding 10 LUV in your wallet enables you to give up to 3 LUV per day, for free. See the LUV in your wallet at https://hive-engine.com or learn about LUV at https://peakd.com/@luvshares

You cannot lose only when you are not playing. That is so true!

I had similar ideas to invest in some "funny" or really cheap coins. But I have problem with waiting. HODLing is kind of meditation. You have to wait unless you are 100% sure to sell.

Maybe it is high time to invest in some coins? :)

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Yup, you won't get rich unless you are able to hold. Get them and forget them ! :D

Thanks for reading.

!LUV 1

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Hi @nervi, you were just shared some LUV thanks to @lordneroo. Holding 10 LUV in your wallet enables you to give up to 3 LUV per day, for free. See the LUV in your wallet at https://hive-engine.com or learn about LUV at https://peakd.com/@luvshares

Its a gamble but I don't think it is a bad move. In fact, I don't mind allocating a few percent of my portfolios for gambles that I am not as confident in. But I tend to just take the profit after a while instead of riding it all the way.

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Same... scored a 40x on SafeMoon, sold and it's still pumping... I'm getting DOGE vibes again :D

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Apart from the financial aspect of cryptocurrency that people are more concerned about, are there no other benefits?

There's a lot more to it. Just watch this video by Andreas Antonopoulos and you will be amazed.

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Thank you. I will do just that.

Awesome!

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