Would you rather lose time or money?
There were few losses I incurred in 2024: spend money, hoping to make more, only to lose the initial investment. Then I continued to spend more, hoping to recoup all of my losses from the previous venture, only to incur additional losses. Then I went ahead and came back stronger.
Spend more, hoping that this one will compensate for the previous losses, only to end up with an even greater loss of not only money, but also time and effort. It was painful to some extent, but the price of knowledge and experience can include real-world losses in cash or kind.
After careful consideration, I realized I had wasted time, which was even more disappointing because I could have spent that time on a more productive venture that could have paid dividends.
The time was lost, the prospect gain I could have obtained by investing that time in other ventures was also lost, and the knowledge I gained by wasting that time was useless at this time.
Perhaps the knowledge is primarily useful to someone else, but it is useless to me, even though knowledge and uselessness are two diametrically opposed statements. It implies that knowledge can never be useless; however, in practice, when knowledge is useless, it is simply present and serves no purpose.
Of course, I can teach people knowledge that is useless to me
Why not?
When people learn from painful experiences, it leaves a sour taste. A former wasteful billionaire can remind a current billionaire of the dangers of constant waste. While the former finds the knowledge painful, the latter finds it useful.
Sure, I can monetize my experience and teach others from my pain, failures, and woes, which is something the internet has enabled, but without a channel to teach and earn, knowledge gained from failure is mostly useless to you. It is a frightening experience.
However, progressive knowledge and experience are examples of real-world endowments that cost more than money. You could lose both money and time.
The former is valuable, but the latter is priceless because time cannot be recovered. Sure, every day is a new opportunity to try again, but we can not get back the years, seconds, minutes, and hours. When people feel strong and agile, they do not realize how much time they are wasting until they are old, with aching bones, arthritis, nerve damage, and failing vision.
That is when they realize, "Oh, I should have used web3 instead of being active on tiktok where I only built an unmonetizable audience", among other financial regrets. Or things like "I could have prioritized family over money or vice versa." The regret of losing time lasts forever, whereas the regret of losing money is acute: it hurts a lot but only lasts a short time.
We cannot say the same about time.
The regret is long-lasting, especially when you are old and can not afford to change anything.
We say "time wastage" because time is limited and valuable. You can spend time trying to gain something only to lose both what you were trying to gain and time.
Most of the time, we feel the loss of "money" more than time because we can literally afford to sacrifice more time, whereas the currency value that money represents is lost.
You need effort to make money; time is priceless and cannot be purchased; thus, because we literally do not need to work to obtain time (a free gift), we frequently feel the loss of effort (money) more than the loss of time that has been freely given to us.
Learn
I have learned those important lessons, and while that does not mean I will not continue chasing, it does mean I will be cautious. Instead of giving them freely, I can do so cautiously.
Total dedication of time and attention can be detrimental, especially when the venture fails. For example, imagine raising a child for 20 years only to discover that it was not your own. You feel the agony of losing your undivided time, money, and attention, and how it can never be recovered.
So I believe I chose to view the losses as lessons rather than the fact that I lost time and money. In reality, I lost both, but I believe that living in denial allows me to focus and leave it all behind.
Perhaps in a few months (God willing), I can get bigger wins that will compensate for the other losses. This is all we have—hope.
Interested in some more of my works
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Interested in some more of my works
Is it Easy To Make Money?
Nigeria: A Unique Business Market & Industry
Virtual Bank Apps In Nigeria: An Experience Of Gamification
How To Find The Next "BIG" Meme Coin
Personal Finance: Achieving Intentional "Saving" Goals
Playing The Survival Game: Human Nature In Introspection
"Un-PAYING" The Debt You Owe
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Some losses can be very educating. In fact, sometimes, loss is necessary to get one to realize certain facts of life or business.
But sometimes, loss can be completely pointless, useless and avoidable.
Whether it is losing a business deal because you were not prepared , or loosing money on crypto because there was no plan to begin with, or losing a friend because you were strong headed... You get to learn from them and move on...
But loosing 10yrs of your life in a relationship because you are afraid of breaking a guy's heart is pointless and I am not sure there's anything to be learnt in it.
I may be wrong though.
Thanks for sharing.
Some losses can be pointless and there are no lessons to learn. I agree with this. This is why I think I barely learned anything from the loss I incurred. I could have been wiser, but I wasn't. So I cannot gain anything but perhaps someone else can get a better advice because of what I went through.
A relationship failed is a wasted time, I don't always agree with the concept of "I learned"
We mostly package wasted time with the idea that we learned something
Classic defensive thinking.
Definitely losing time is what hurts the most. Younger people may feel otherwise, but they are mistaken, because money you rebuild if you know how (experience you get with passing time), time you'll never get back.
My thoughts too. I think time cannot be gotten back. However when people are young and healthy, they're biased with this illusion that they have enough time, no matter the time they waste, youthfulness decieves them into thinking they're invincible
Let's hope we all get some of those wins soon. Time lost on a venture really sucks, it's good old opportunity cost, choose one path at the loss of the other. It not fun to lose either, especially in combination. Knowledge can be shared, he can not do can teach!
I'm hoping for the big win soon though!
!hiqvote
2024, I dedicated over 8 months, like 75% of the year to some venture I thought would pay handsomely. I didn't end up not getting rewarded I realize I wasted 75% of the year when I could have channeled it somewhere else. It was Painful indeed.
Your first 2 paragraph is so funny and I can relate to it... I also almost got depressed, it was 2021 and I put money on a coin called bake, from 0.1, it pumped to 1 dollar so I expected it to pump more but it was during that time btc did its thing and crashed, the coin was going up and down and i decided to do small flipping, whenever sell, it goes up, i rush to buy back it goes down, it keeps repeating itself and I was feeling so sad and loosing my mind that I sold off everything, sadness wasn't over, two weeks later the damn coin pumped to 6 dollars....
Most people don't care about time, they care more about money and their resources put into the thing
I think you wanted to prevent yourself from losing after not taking profit at 1$ and it must've been devastating to see that you sold and it went up to 6$. A lot of people made this mistake a lot. I think at the end of the day, we lose some and we win some too. You once posted a coin you didn't sell and it pumped recently and you took some profit. On the other side you could have sold the coin, but by some stroke of goodwill, you didn't and made some profit.
well I also had regret with that coin, I sold it for 900 dollars and it pumped to 6000 dollars! regret never end in this space lol
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Time over money as time is a priceless commodity. We have a finite amount of time on earth and once we waste it, it is gone forever. Money on the other hand can be earned and re-earned. Also, of what use is it to earn money when one cannot maintain it? Money management is learnt when one spends 'time' gathering experiences.
Amazing. That's a wonderful accessment. In real life, most young people however will choose to have a lot of money as they're vibrant and full young and full of energy, because we mostly don't think what we have can be quickly taken from us. Hence, some people can afford to lose their time, provided they won't lose money
It's hard to know what is best. I think money is good if you have alot of it. It depends on which is harder to get at that point in time. If you have the funds available, then saving time is the best. I do agree that you can't get back time though.
Yeah. The place, position, health and financial status we are often determines what we choose and most younger people will choose money over time since they have more of the former
Well as long as I have fun in the time spent, as like with play2earn games, I don't mind losing the time when the project fails, it was entertainment, I dislike the money lost in it though, hence why I stopped other games and now play splinterlands only
That's exactly what I tried to talk about. When we are young, we don't mind losing time, but it's mostly older people in their 70s and 80s that are worried and disappointed about losing time.
I prefer time instead of money, which I want to use constructively. but i can't do it.. my ventures fail.
That's a wise choice lol
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