Get In Early, Get In Big .:. Late Night Blogging

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As usual, I got inspired for creating these Late Night Blogging posts by accumulating stuff that I have read or watched during the day... Or maybe by the recent events that have happened... For this specific post, I got inspiration from reading the comments on the post by @liotes where we asked the community their plans about the GLS (Genesis League Sports) platform... In short terms, it is one of the big projects by Splinterlands team... It is still in a very early phase and as such, it is a "risky investment"...

Also, I was watching multiple YT videos where some of the best investors in the world mentioned something like the title of this post... If you want to make "life-changing money", you have to get up early, and you have to get big... When I say big, it doesn't mean that you invest all your retirement funds into it, but you should do more than you spend on a Saturday night out... :)


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The issue with getting in early is with having the right information at the right time, or better said, getting it BEFORE others... But, it's not always like that... Sometimes, we do get a second chance, and occasionally the third chance to get in... For example, picking up BTC at 16-17K last year was a second chance for people who missed the 2017 pump... They (and many of us) thought that we will never have that price again, but we did...

I was lucky that I came into the cryptocurrency world heavily in early 2017... Just before the huge bull run... To be honest, you couldn't pick the "wrong token" in those days as everything went up like crazy... I was into ETH mining (as it was a POW blockchain) and in those days, ETH went up from $50 to almost $1400... I don't know how many coins did I mine, but I know that I have reinvested most of the money back into the mining rigs and still had some spare money to invest in different tokens...

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The problem was exactly that... As it was a heavy bull market, I was full of crypto and I invested in a lot of shittoken as I had no idea how to "evaluate" them... I fell on a lot of promises of "fake developers", "fake companies" (Do you remember cloud mining? 😀), fake experts (everyone is an expert in the bull run), and fake friends... I didn't make the mistake to invest a lot in 1 project, but I diversified my funds among dozens of bad projects... Luckily, I didn't spend most of my mined ETH and some BTC that I bought with it...

After a while, in early 2019, I found this blockchain as everyone was doing ETH mining... HIVE became my main blockchain, my home, and I came here through Splinterlands... It was my first blockchain gaming experience and I didn't come at the beginning... I think that the BETA edition cards were actual, so I missed the ALPHA collection... The game had its ups and downs, but those people who were there from the beginning benefited the most! They got cheap packs, harvest a lot of rewards through gaming, and they grew their stake easily...

Another game that I joined was Rising Star... I missed the beginning for a couple of months, but I was there "relatively" early... I learned a "half-lesson" from my Splinterlands "miss out", so, I invested some crypto in-game, and compound my earnings aggressively at the beginning... I was a disciplined "player" by doing missions one after another, keeping my "weekly hours played" number very high... Probably because of all that, I'm now in Top60 of that game...

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So, here we are today... In front of us, we have many different apps/projects/games and we HAVE TO pick one (or a couple) among many as it is impossible to do them all... From my previous experiences, I have learned a couple of lessons...

  • From my ETH journey, I learned that I have to research well my future investments and try to lower risks as much as possible... Invest in projects that I understand how they work, that they have a use-case, and preferably, their team has a "positive" history in crypto...

  • From my Splinterlands adventure, I learned that I have to come in EARLY... It's crucial to do it as you have many positive effects if you are in early... Cheaper assets (early adopters), better ROI, and better APR, which altogether mean faster accumulation through compounding...

  • And finally, from my Rising Star adventure, I learned that I should go BIG... I'm not saying that my status would change dramatically in that specific game, but it would give me a much better wind in my back...

Now, imagine that you check out all these boxes... You find a project/game that is created by a well-known team behind, with positive background, that is creating something new based on a successful project in the past... Imagine that you are having that information before anyone else outside the ecosystem and you know that the launch date will be in the next 2-3 months, so you have time to collect some funds and prepare yourself...

Would you pull the trigger? Did you do something similar in the past and get in early? Please let me know in the comment section...

Not everyone will do it... And the reason isn't lack of money to invest, as the definition of "BIG" is different for people... As a matter of fact, only 3-5% will do it... So, if you found many people standing on the sidelines, don't be discouraged... If you did your homework and tick all the boxes, make the step forward as you could be one of that 5%... People from the sidelines will never get there...

Thank you for your time,

~ph~

PS. This is NOT financial advice


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40 comments
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Do you remember cloud mining? 😀

!LOLZ I think this one has taking a lot of casualties.

even a year ago, my friend was also still falling for it, after I tried to explain the ugly side of it, and the chance of it gone without a trace.

Thank you for the insight, I should look into GLX and GLS
I think the price is still low at the moment.

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(Edited)

Could mining was, and from your words, it looks like it still IS, one of the biggest scams in the crypto sphere... No companies, no machines, just numbers shown on the website and a never-reaching amount for a payout... Just investing more and more into nothing... :)

PS. This post was inspired by GLS, but it isn't a "shill post" for the GLX token... 😃 Not financial advice...

!LUV

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Thanks for the curation! Appreciate it!

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I think it depends but I don't think it's a bad idea to wait to see how things go first. At least right now, I don't think GLS has released anything yet. Honestly, crypto has been full of a bunch of scams and I think people could go wrong by investing into a shittoken that went to zero.

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To generalize, I would add two more things: 👇😎

  • you have to be in the right place at the right time
  • luck follows the brave
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Yup... Searching for information in the right place is crucial... This gave me a great idea for the next post! So, thanks for inspiring me!

luck follows the brave

I know that saying very well, but if we look from a different perspective maybe brave people take action and "call the luck" in their backyard... You can't win the lottery if you don't buy the ticket... 😃

Have an awesome weekend!
!LUV

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!BEER
!BBH

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@ph1102! Your Content Is Awesome so I just sent 1 $BBH (Bitcoin Backed Hive) to your account on behalf of @eii. (4/5)

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Thanks for the tokens!
!BEER

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It is going to be an interesting project that doesn't seem to have the fanfare of the others, so perhaps it will do really well and there will be some fomo as people try to get back in later.

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(Edited)

I did mention GLS as a token that inspired me, but the point was a bit broader view in general... Of course, we will make mistakes even after deep research before investing, but the point is that when we are right, we "win" enough to cover our "losses"...

And I'm pretty sure that there will be FOMO later on... It is always like that... If nobody else, the early investors will create a FOMO to dump tokens on others... 😃 It happened many times, and it could happen again...

!PIZZA

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yeah I know what you mean, I have GLS on the brain! lol

Getting in early in the right projects does seem to make sense. I mean just picking up a few bitcoin a couple of years ago would set you up nicely for the future. Im not sure how much dumping of it there might be though.

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My brother and I did that at the last bull market. But since it was our first bull market, we naturally lost a lot. But we made some good money, too.) Still, we were picking projects...
!ALIVE
!CTP
!PIZZA
!invest_vote

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My brother and I did that at the last bull market. But since it was our first bull market, we naturally lost a lot.

We all did that... 😂 Those who are saying differently are lying... 😃
But when you go through those lessons, you are getting better and better in picking the "right projects"!

!LUV

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(Edited)

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A lot of people buy into fake projects in their early days in crypto. I mean, it was the wild wild west out there. But everyone who has come through splinterlands have come to truly appreciate what we're building here. I mean, it's absolutely monumental, what we have here.

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I mean, it was the wild wild west out there.

Oh, it was and it IS... The thing is that we, as more experienced users, don't pay attention to all those fake/scam projects anymore... But, they are still out there and most of the time I heard about them from people that are new to crypto, or thinking about getting into it by investing in some shitcoin! Crazy, but true!

And I agree with you regarding Splinterlands... Personally, I was in doubt many times regarding the game, comparing it with a Ponzi scheme in a certain period... Yes, they made mistakes, but when you are this early, you have to make mistakes as you couldn't learn from others... The most important is that you work on them, fix them, and move forward... And they did that...

!PIZZA

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yes it is true, those who had the opportunity to buy bitcoin at 16k or less had their eyes on it, now it is already returning to the normal price

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...and still many didn't use the SECOND chance to come onboard... It is hard to pull the trigger when things are going down, but with previous experiences, you get tougher... :)

!PIZZA

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no easy. invest 16k for buy one BITCOIN . 😅😅

!PIZZA

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Yes, we have got the same lesson from Rising Star... Go big or Go home
!CTP

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Yup... You can come later, follow the herd, and it can be profitable, but you can't expect to catch those that came early...

!PIZZA

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I think I am still a little more conservative. I prefer to dip my toes first, and put in more as I see more track record and get familiar with the investment. I might not become a millionaire because of that - but a good and happy life is all that matters! Hehe!
!LUV

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Well, I'm like that in general, but I have noticed lately that I'm going over my "comfort limits" in many different projects in which I'm invested... Of course, we can't be early in EVERY project as we don't have all information from the "first hand"...
There is nothing wrong to get in slowly... It depends on our expectations, or in investing, on our future profits... One portfolio for long-term slow accumulation, one for mid-term, and the last (and the lowest) for risky, early investments... ;)

!PIZZA

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