Most People Are Wrong... .:. WorkerBee PH-Pool Week 272
Today, I was watching a YouTube video where the author shared an interesting fact about crypto investors... He pulled out data which shows that most of the people who began their crypto journey in 2018, despite the crypto growth of over 500%, are in the loss! Also, despite the huge pumps that we had in the meantime, which were over those 4-5X! How is that possible?
Created on Canva.com, using my photo as a background
To figure it out, I suppose I can look at my example, and how I began the crypto journey that I shared multiple times here on HIVE... I got into BTC in 2013, bought for around $500, and sold a few months later for $200... And, I wasn't the only one that panic-sold! I think I don't have to go further with examples to explain how it's possible to have a loss despite the asset going up...
The simple answer is BAD TIMING! The broader answer is ACTING AS A HERD!
I had no idea what crypto was, and when information about it came to me, it came to everyone else, too! And why did the information spread so fast like a virus? Because of FOMO! The price was soaring, and those who got early were yelling from the top of the roofs how they did right and how the BTC price will go up forever!
Those who got in early, with a lot of money, wanted to take "some chips off the table," so they were among those promoting the "NGU mentality" with a hope they would attract enough people to buy their tokens! They needed a majority to fomo-in, to pay out the minority who had huge bags... and they succeeded in that... Minority who cashed out in those times were right, and the majority was wrong...
A similar thing happened when the price was falling... To feed up "hungry rich people", the market had to dump a lot, to fill their bags with a lot of tokens... To see that happening, MANY people had to sell, and the best way to do it is to create FUD, or, nicely said, a big bear market... When the last optimist sells its tokens, we would hit the bottom... When the majority of the people have sold, the price could go up... Only a few stay with a big bag of tokens, diamond hands, and the sell pressure stops... Minority who got tokens cheap were right, and the majority who sold cheap were wrong...
Same pattern over and over again... To be honest, I didn't make the same mistake just once with that first BTC investment... I made multiple mistakes over the years... Even when you KNOW all this, you can still make a mistake... It's all about emotions, and sometimes the strongest people fail...
How did you do in your crypto journey? Are you net positive or net negative?
Let's see the WorkerBee Pool numbers for this week...
Compared with 2 weeks ago, we have over 15% more WORKERBEE tokens staked, which means we will probably mine more BEE tokens... I suppose that's the main reason for "elevated" numbers this week! Also, as we have more and more delegators, I will have to split my spreadsheet into 3 parts!
This week, we have mined 138 BEE tokens in total, 32 tokens MORE than the week before...
This week, we got 1 new delegator! Welcome to the pool, @xrayman! Also, we got additional delegations from old members! Thanks for your continuous support, guys and girls! I really appreciate it!
This pool doesn't charge fees, and you can earn up to 20% more by delegating to it!
What about the bonus tokens?
This week, it's time for the CTPSB token to be distributed as a bonus... This token is now part of the @liotes ecosystem after a successful acquisition a year or two ago... It's a token that is backed by its HivePower, and its value grows organically through curation and author rewards... It has attached mechanisms for burning and minting as people decide to buy or sell the tokens to the treasury...
There will be distributed 4 CTPSB tokens to the delegators of the pool as a bonus reward today!
4 CTPSB tokens will be distributed as a bonus... The APR (without the bonus) was 9.907%, and when we added the bonus, it went up to 11.826%!
I have calculated the ROI approximately with medium prices for all tokens when creating this post... So, those numbers are valid if you bought WB and sold BEE tokens at the middle HiveEngine price... Currently, the BUY side of the WORKERBEE tokens is very thin, and it's hard to calculate the middle price.
Do you want to sponsor the PH-Pool with your tokens, receive a short SPONSORED segment in this post, and raise awareness about your front-end or dApp? Please let me know in the comment section, or contact me through Discord or Twitter, and we will find the best solution for both parties...
If you want to join the WorkerBee PH-Pool, the only thing that you have to do is to STAKE tokens to YOUR account and DELEGATE your staked WORKERBEE tokens to THIS account (@ph1102)! Every week, you will get your portion of mined BEE tokens and BONUS rewards!
.:. DO NOT STAKE TOKENS TO MY ACCOUNT!!! Just DELEGATE! .:.
All payments will be made after publishing this post...
If you have any questions, please leave them in the comment section!
You can find more about this pool in the initial post here https://ecency.com/hive-119826/@ph1102/workerbee-p-h-ool-let-s-help-each-other.
Thank you for your time.
--ph--
None of this is financial advice!!!
👉 Vote for Liotes HIVE Witness HERE 👈
Don't forget to follow, reblog, and browse my Hive page to stay connected with all the great stuff!
I think the only reason I made money was because I was leasing Scrypt rigs back when BTC was around $500 and everyone was rushing to mine the next new token.
I held my BTC through the crash and when I got busy and stopped leasing rigs, I forgot about my BTC wallets. I tracked them down years later and sold for a nice profit simply because of forgetfulness. !LOL
Sending you some Ecency love!
Cheers!
!BBH
!PIZZA
!ALIVE
Hehehehe... I think that a lot of crypto millionaires became millionaires similarly... They forgot about it, and remembered on the next pump... 😃
I got into mining much later, in early 2017, with GPUs and ETH mining... If I didn't play around with altcoins and just HODL ETH, I suppose my current portfolio would be in a much better shape... 🤣
I wish I was a forgetful millionaire, but I made probably around $1000 and whatever profit after the leased rigs paid for themselves. At the very least it makes for fond memories and fun stories to share with my kids.
Now that you mention it, I think I wrapped things up when I saw the next wave of crypto was going to be mined with expensive graphics cards or dedicated high-end machines, and that's probably why I got out.
I only wish I found Hive earlier, but then maybe finding it later isn't bad. I'm less focused on the price and what has been and more on creating, building and what is yet to come.
i think a lot are at loss cause a lot entered during 2020-2021, then prices went down and it has been basically impossible to recover from that loss
Entering the market in those moments could be a blessing and a curse... We who entered earlier know how good things can be, and because of that, we may have more regrets... lol... Those who came recently didn't have too many ups, only downs... which is bad for motivation and persistence, but good for building without high expectations... :)
Now it's surely a good time to accumulate due to the low price
I think the cycles of greed and fear can trap even the most cautious investors.
Yes, they can trap the strongest once too... But, having experience with fomo and fud in the past can help in the present and the future... Lowering probabilities of making the same mistakes... Not eliminating them, but making them less probable... :)
Thank you for the CTPSB!
You are welcome!
$PIZZA slices delivered:
@bulliontools(19/20) tipped @ph1102
Please vote for pizza.witness!
I believe that only those who have spent years in this space truly begin to familiarize themselves with the reality of it. I only just started back in 2018—first with Steem, and later with Hive. I made modest gains relative to my initial holdings, but people like you—who have been at this for over 10 years—have come to understand the risks, even if through trial and error. The future is very uncertain, brother; yet, deep down, I am glad to know that we aren't alone in this—that there are still people out there who want to build within the crypto world. I hope things turn in our favor soon 🙏
A BIG HUG TO YOU MY FRIEND 🙌
I am net positive, but I do think that the herd mentality hurt quite a few people. I think that they hurt quite a few people.
Thanks for running the pool and for the CTPSB/BEE tokens.