How To Lose Money in Crypto Without Even Noticing .:. Walk and Talk

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Hey, guys... I didn't do this for a long time... I mean, recording a video in my daily walks... But today was nice weather, I hit the road (path), and decided to share with you some of my thoughts... Or better said, to share with you (from my personal experience) how to avoid losing money in crypto...

Do you stake tokens? Do you compound your earnings? Do you accumulate dozens of different tokens? Do you understand what is the purpose (and use case) of all those tokens? Do you follow developments around the tokens? Do you watch the news, live streams, or attend Discord/Telegram chat groups?

It's a lot of things to follow and I could freely say that it's impossible to do all that if you have investments in more than 10-15 "active" tokens! Sometimes it's hard to follow just one, and imagine 20! When the Splinterlands team changed gears to higher ones, I couldn't follow things at all... and that is JUST a game!

Back to the topic... I did a lot of bad investments in the past and I will probably do many others in the future... But, as usual, it is always about numbers, it's always math behind it, and probabilities... All our previous mistakes are recorded somewhere in our minds and sometimes, they are processed... If not, they are just data standing on the shelves without being used...

So, in this video, I'm sharing some of my (and many others) common mistakes that I have done in the past... If you are staking, compounding tokens... This video is for you... While I was recording I had one interesting thought that I would like to share with you, but I didn't do it... Just a small comparison...

Bad investment is like a bad marriage... You are aware of it when it's too late... 😀

Check out the video for more details and leave a comment with your opinion... This post is not financial advice...

Thank you for your valuable time,

~ph~


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Music in video:
Growing Up by Scott Buckley https://soundcloud.com/scottbuckley
Creative Commons — Attribution 3.0 Unported — CC BY 3.0

If you want to support my witness, you can do it by voting for @ph1102.ctp here https://tribaldex.com/witnesses, or just scan the QR code down below...

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You can also find me on LEO Finance .:. Twitter .:. LBRY

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49 comments
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I agree with you, searching for APR on a non-worthy token is a mistake... btw, in which area of Spain are you located?

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Hey, I'm a bit lower than you... 😃 Between Valencia and Alicante...

!PIZZA

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Hope your post will be an eye-opener for many or at least make think some!
!ALIVE | !BBH | !LUV | !PIZZA | !LOLZ | !PGM

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@ph1102! Your Content Is Awesome so I just sent 1 $BBH (Bitcoin Backed Hive) to your account on behalf of @vocup. (5/20)

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Sent 0.1 PGM - 0.1 LVL- 1 STARBITS - 0.05 DEC - 15 SBT - 0.1 THG - tokens to @vocup

remaining commands 1

BUY AND STAKE THE PGM TO SEND A LOT OF TOKENS!

The tokens that the command sends are: 0.1 PGM-0.1 LVL-0.1 THGAMING-0.05 DEC-15 SBT-1 STARBITS-[0.00000001 BTC (SWAP.BTC) only if you have 2500 PGM in stake or more ]

5000 PGM IN STAKE = 2x rewards!

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Support the curation account @ pgm-curator with a delegation 10 HP - 50 HP - 100 HP - 500 HP - 1000 HP

Get potential votes from @ pgm-curator by paying in PGM, here is a guide

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Thank you for the support and all the tokens! Appreciate it!

!PIZZA

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(Edited)

🍕 PIZZA Party!

I gifted $PIZZA slices here:
@emaxisonline(1/5) tipped @ph1102 (x2)
ph1102 tipped edje (x1)
ugochill tipped ph1102 (x1)
vocup tipped ph1102 (x1)
ph1102 tipped ugochill (x1)
ph1102 tipped vocup (x1)
ph1102 tipped jfang003 (x1)
ph1102 tipped toofasteddie (x1)
ph1102 tipped freecompliments (x1)
ph1102 tipped emaxisonline (x1)

Learn more at https://hive.pizza!

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Thank you for sharing your wisdom and experience. I wish you and the people who learn from this to have a wonderful day and to make wise choices. ☺️

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You are welcome! It's always nice to share some of our mistakes as it can help others to avoid them!

!PIZZA

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:) Good to see ya.

Cool thoughts like always.

!PIZZA

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Thanks! I hope that you are having at least weather like this in Amsterdam! I was freezing there... and it was September! 😂

!PIZZA

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Nice to see you back after a long time.

What I have seen since I have jumped into crypto world that it has a few uptrends than downfalls.

!PIZZA !PGM

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Sent 0.1 PGM - 0.1 LVL- 1 STARBITS - 0.05 DEC - 15 SBT - 0.1 THG - tokens to @emaxisonline

remaining commands 2

BUY AND STAKE THE PGM TO SEND A LOT OF TOKENS!

The tokens that the command sends are: 0.1 PGM-0.1 LVL-0.1 THGAMING-0.05 DEC-15 SBT-1 STARBITS-[0.00000001 BTC (SWAP.BTC) only if you have 2500 PGM in stake or more ]

5000 PGM IN STAKE = 2x rewards!

image.png
Discord image.png

Support the curation account @ pgm-curator with a delegation 10 HP - 50 HP - 100 HP - 500 HP - 1000 HP

Get potential votes from @ pgm-curator by paying in PGM, here is a guide

I'm a bot, if you want a hand ask @ zottone444

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heheheh... It wasn't like that before... we had bull runs and bear runs for almost the same amount of time... If the BTC cycle is 4 years, it was mixed with bears and bulls equally... If I'm not wrong, this is the longest bear market that we had... Unfortunately, it's not ended yet...

!PIZZA

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You are right Zoltan. But, crypto is still a free market and largely remains uncontrolled by regulations, that's what it might have affected it badly. !PIZZA !PGM

Posted Using LeoFinance Beta

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Sent 0.1 PGM - 0.1 LVL- 1 STARBITS - 0.05 DEC - 15 SBT - 0.1 THG - tokens to @emaxisonline

remaining commands 2

BUY AND STAKE THE PGM TO SEND A LOT OF TOKENS!

The tokens that the command sends are: 0.1 PGM-0.1 LVL-0.1 THGAMING-0.05 DEC-15 SBT-1 STARBITS-[0.00000001 BTC (SWAP.BTC) only if you have 2500 PGM in stake or more ]

5000 PGM IN STAKE = 2x rewards!

image.png
Discord image.png

Support the curation account @ pgm-curator with a delegation 10 HP - 50 HP - 100 HP - 500 HP - 1000 HP

Get potential votes from @ pgm-curator by paying in PGM, here is a guide

I'm a bot, if you want a hand ask @ zottone444

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I kinda agree with you. I also had the feeling that I put in too much effort into things that might not be so important (e.g. reading up and following some coins which I only put a small sum of money). Recently I have tried to keep things simple, no more altcoins, just mainly BTC, ETH and Hive for me.

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I also had the feeling that I put in too much effort into things that might not be so important (e.g. reading up and following some coins which I only put a small sum of money).

Huh... That's my main issue too... Not just different tokens and following their "path", but also wasting time on some other stuff like YT videos, P2E games where I get only peanuts, etc... You have made a good point here... It's crucial where we invest our 24 hours per day and not waste it on stupid things :)

!LUV

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Do you stake tokens? Do you compound your earnings? Do you accumulate dozens of different tokens? Do you understand what is the purpose (and use case) of all those tokens? Do you follow developments around the tokens? Do you watch the news, live streams, or attend Discord/Telegram chat groups?

Interesting way of thinking 🤔
Stake? yes
Compound? Depends on the situation
Accumulate dozens of different tokens? yes, BECAUSE I get it without I notice it. 🤣
Understand the purpose? Some of it, yes but some of it, no.
Follow development? Some of it, yes but some of it, no.
Watch news, live streams, or attend Discord/Telegram chat groups? Some of it, yes but some of it, no.

Sometimes I just don't follow it because I get it for free even when I don't notice it. So, I can choose 2 paths to stake/hold and make more as I read how those tokens work or sell them. Depends on my situation too 🤔
Need HIVE for other investments -> Sell it.
Well, if I invest in something, I should follow it. If it's going down, I must choose based on how bad is the condition of the investment.

Thanks for letting me think more about my investments 👍. Sometimes I don't know what I must think of some things 😅. Those questions are helpful 👍

For video: Yes, sometimes those APRs are s***. APR is going up while value is going down equal to checking which one is more than the another. The result could go the wrong way from what we researched the first time 🤔. High APR doesn't mean high profit while the value is going down more than APR 😴

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Thanks for letting me think more about my investments 👍. Sometimes I don't know what I must think of some things 😅. Those questions are helpful 👍

Oh, man... I'm asking those questions myself on daily basis... 😃 If we are not doing that, we will be stuck in the mud of bad investments, losing our money and time on worthless things...

!LUV

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Although I don't particularly like the sun in the winter, I would prefer it right now. Like in your case, it's been raining for something like two weeks around here almost continuously.

This is a major topic for me. If you can't follow a project closely, don't get in deep. Treat it more like a gamble. Even those I keep limited because they often turn out losers.

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Although I don't particularly like the sun in the winter, I would prefer it right now.

I prefer the sun all year... lol... When it's raining my mood is also rainy, and demotivating... I suppose that I'm one of those with Seasonal Affective Disorder (SAD)... :)

This is a major topic for me. If you can't follow a project closely, don't get in deep. Treat it more like a gamble. Even those I keep limited because they often turn out losers.

Agree with you on this... For example, I consider my "investment" into the GLX token as a gamble... Yes, I read almost all the data about it, but the project is in a very, very early phase...

!LUV

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I prefer the sun all year... lol... When it's raining my mood is also rainy, and demotivating... I suppose that I'm one of those with Seasonal Affective Disorder (SAD)... :)

I don't like rain in winter either. But I like clouds. When it's sunny and clear, it's often colder too.

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APR isn't everything I completely agree with the risks of IL/token depreciation. That was always what stopped me from jumping more into Defi because there are a bunch of things to consider.

Posted Using LeoFinance Beta

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There are some good Defi pools where you can avoid IL, but pairing a "blue chip coin" with a shitcoin is probably one of the worst combinations to be involved in...

!PIZZA

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I agree. The IL is quite horrible and it reminds me of how CUB reacted in price. It's way lower now but the dilution of value really hurts.

Posted Using LeoFinance Beta

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In bull markets, shit tokens may do very very well, mainly because of small market caps. Shittokens with a large market cap may also do bad in bull state. However, in bear markets, all apply as you say. Something funny. When DeFi and LPs became a thing, many peeps demand APR on their tokens. This resulted in many going after the high APRs, not knowing what the token is about. I remember the Leo guys talking about the BSC farms with gazillion-digit APRs. Well, many went down the drain in a matter of days, the inflation was so large, and too many peeps selling all the time. Many peeps got burned on such farms. In the end, when investing, one shall find good projects. Even in bear markets, the good projects suffer, but they'll be here to stay. If they are not here to stay, then it's per definition a bad project. Investing also means long-term. And short-term action can only be a trade, that's not investing. I would say when putting money in farms and whatnot, that's investing. I suppose one needs to think in years, instead of months, weeks or days.

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When I think back in the past, what kind of tokens were doing well, you could sell a shitcoin, without the "coin" part too! 😂

I remember the Leo guys talking about the BSC farms with gazillion-digit APRs.

Unfortunately, I was one of the guys who went into those farms, but I had some other reasons to do it besides the APR... There were some other issues with Cubdefi and Polycub, but that's another topic... Something similar we can see with the GLX tokens at the moment... High APR attracts people, but without a good strategy and a long-term vision, I bet that many people will lose money with it... But, those two teams are different (LEO and SL) and I suppose that the results will be different too...

Even in bear markets, the good projects suffer, but they'll be here to stay. If they are not here to stay, then it's per definition a bad project.

Agree with you on this... But the issue is to "recognize" which one will survive and which ones will not... 😃 It's not obvious from the first look...

Investing also means long-term. And short-term action can only be a trade, that's not investing. I would say when putting money in farms and whatnot, that's investing. I suppose one needs to think in years, instead of months, weeks or days.

I could list maybe 3-4 coins that I'm sure that will survive at least 3-5 years... By survive, I mean that they will not go close to 0, as most of the coins from the past are still alive, but they are almost worthless...

Thanks for the comment! It made me think and re-think about certain things... :)

!PIZZA

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(Edited)

What is the most important I learned is: Team! The people in the team. Do they have the market fit? I mean, any service can be made successful in my opinion. Doesn't matter if such a service is already around, or if it Is a totally new type of service. The former requires some uniqueness compared to what is around already. The latter requires deep pockets mainly since the market still needs to be developed. But but but, it all boils down to the team. Are they able to run a startup company? Do they have all the business skills a startup company requires? Do they have the passion? and so on and so forth.

Especially in the crypto space, we see too many Wordpress website developers who think they can launch a successful service. Most can not. Well, most of those website devs can't develop a good service with a solid backend, let alone they can run a business. But all that aside. Even when the developers are good, a project/company/service will not stand out when not applying all the other aspects of setting up and running a business. The latter is something I don't see too often in the crypto space. I mean, most projects lack business skills. Basically, most projects don't have the team needed, and the team/market fit isn't there.

Investing in crypto, the new services, is like investing as an angel investor in the riskiest business you can imagine. That basically means a relatively low value of the total portfolio per investment. Spreading money is the name of the game. Since even a team that has the skills, may not succeed.

So much to tell about all this, I think I can write a book about it. Since all I stated, is more nuanced in reality. It isn't so black/white. But! The team is to me, the most important.

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Hehehe... I think that we have understood each other very well, without naming some of the "teams" on HIVE... Agree with you on all that you said! As a matter of fact, I prefer more projects where there is more than 1 "talking head" as that means that they have at least 2 perspectives... I know that most people are searching for 1 person to save them all, like Gates, Musk, Trump, Vitalik, etc.

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Don't get me going on HIVE projects :)

Yes indeed, it can't be one person. The Musks, Gates,... of this world are outliers. They are rare.
On Vitalik, I wonder what happened if he wasn't as early as he was. He is good in what he does, developing and all, but what if he would enter the market after gazillion projects have already launched? Ok, difficult question, since he invented the smart contract chain :)

Finding the right team means spending a shitload of time in communities. And I mean a shitload of time. Next to that, investigating the peeps outside the project community may require some skills and again time. And then still, it's so hard to predict. I believe I invested in solid projects during the last few years, but the market cap decreased tremendously in 2022, also for the projects I selected. And possibly, maybe even likely, some to more of those projects that are solid in my books, may not make it in the end ;)

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I have learned that the best way not to lose money with cryptocurrencies is to have a good management of funds, keep an eye on prices daily and as soon as you see a rise, transfer it to a stable currency, buy at a lower price and repeat... NEVER leave your money in a shitcoin for many months... I also learned that it is better to assume a loss of 3-7% than to wait and end up losing 20-30%

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NEVER leave your money in a shitcoin for many months...

This should be written in the books!!! It is so true and in the first sign of a bear market, sell shitcoins and wait...

!WINE

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TShirt and Sunglasses! -10 here! !LOL

Thats some good advice about chasing shitcoins!

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Brrrrr... -10...
untitled.gif

I was listening to some chilling YT music and there was a video from the bar, with a burning fireplace, cozy and warm... And outside, from the window, you could see snow... I can see myself INSIDE that place... not that much outside... 😂

!LUV

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