Buying The Top .:. WorkerBee PH-Pool Week 224
It's time to share one of the life lessons that happened to me somewhere in late 2017, when my crypto journey was at the beginning, less than a year actively participating in crypto mining, but also trading speculating...
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I had a short sneak peek into the BTC world in 2013, but after a few months, I rage quit and said that I would never come back to crypto... Obviously, I didn't keep my word... 😂 In early 2017, I began with ETH mining... Bought dozens of GPUs, and had my hands dirty in creating homemade mining rigs, accumulating those ETH tokens, and also, converting something into BTC too... Btw. At those times, BTC was around 1K USD!
That year was crazy, both my tokens went up like crazy, ETH and BTC... I was mining crypto with ONE friend, while all my other friends didn't believe in that and took me for a fool... Closer to the end of 2017, BTC went over 18K! And in those moments, another friend of mine decided to "trust me" and he bought a fraction of a BTC!
the point when my friend decided to buy
The real truth wasn't that he trusted me... He trusted "the price" as it went almost 20x when I told him for the first time to check it out... If you were in crypto in those years, you know what happened in 2018... The worst bear market in crypto! I had such a bad time in life, as I didn't take almost any profits from my crypto hustling... The only profit that I took was reinvested back into mining equipment... On top of everything, I found myself responsible for my friend's investment! After he bought his BTC, the only way was down, until BTC went under 4K! His loss was over 70%!
The issue of "recommending" or "giving advice" is that if something goes wrong, the financial failure spills into the friendship and relationship... He sold his BTC around 4-5K, took the loss, and we lost contact...
zooming out
What happened after that to the BTC price? If we zoom out the chart to the current day, it looks like this... That finger points to the moment when my friend invested in BTC... If he didn't sell, his investment would make 6X to this day! And probably, we would still be as good friends as before... I was wrong in the short term, but I was right in the long term... That is completely irrelevant and unimportant, as the damage was done...
Because of this, most of the time I don't share things about my crypto investments... I know that people should take responsibility for THEIR actions and I'm sharing MY VIEW about certain tokens/projects, but still, when the price hits the bottom, people search for someone to BLAME... And who is the easiest to blame? The messenger!
NFA
Let's see the WorkerBee Pool numbers for this week...
This week, we have mined 93 BEE tokens in total!!! 6 tokens more than last time!
We didn't get new delegators this week, but we got new delegations from old members! Thanks guys! Appreciate your support!
This POOL doesn't have fees, and you get up to 20% MORE by delegating to it!
What about the bonus tokens?
It looks like the Rising Star game changes had some effect on the STARBITS token price as it's changed direction, and it's not the only down chart! From the bottom that was 2 months ago, it doubled the price in early May, and now it looks like it's having a pullback... It looks like it's printing higher lows, with occasional higher highs... Having in mind how shaky the whole altcoin market is, everything is possible from this point forward... I don't want to speculate on the price but rather continue playing the game, growing my token income in the meantime... That was exactly what I was doing in those "bad days" during 2018, and fast forward to the present, and it paid off!
There will be distributed 2.1 million STARBITS tokens to the delegators of the pool as a bonus reward today!
As always, in the end, let's give the exact numbers for this week... 93 BEE tokens and 2.1M STARBITS tokens will be distributed as a bonus... The APR (without the bonus) was 6.833%, and when we added the bonus, it went up to 8.177%!
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...
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!!!
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On Saturday night I was at a restaurant with three of my childhood friends. Although I told them about the crypto in 2021 (so late), when I entered, they did not listen to me then.
Since then, BTC has fallen below 20K, when it could be bought cheaply.
We are sitting and the three of them are talking about some purchases of ETH and BTC, how a businessman they know made $200K on a $1 million stake through an exchange...
And when they started the story that now is the right time to buy BTC, I joined in with the comment: "Maybe, but...".
They looked at me in amazement and with the question "Why do I think so", I told them "DYOR. Now BTC is at ATH and it is very risky to invest large amounts of money, because it can lose 15-20% value in an instant. But not NFA either, because I don't want to make you make the wrong decision, and then experience the FOMO effect.
Just be careful with your money and only with as much as you can afford to lose".
One of them, who likes to take photos, became interested in HIVE, so maybe in the next 15, 20 days I will introduce my first friend to HIVE world 😀
It's always like that! When you say something, they don't listen, but it is stored somewhere in the brain... and it makes them curious in the future... When they got info from other sources on how someone earned some big money, they began to doubt their previous decisions... And then they buy some shitcoin as XYZ person said that... 😂 (btw that happens with children very often 🤣 that kind of attitude... "I don't listen to my parents, as I know the best"... but after awhile, they begin to understand...)
Wooohooo... That's great news! Good luck with that!
PS. We will be coming to "your" country 😃, in the second half of July... So, if you will be there, maybe we could organize a meetup... Just an idea and no pressure... 😉
Great.
I'm here in the second half of July.
We agree. Just let me know the region you are in, so we can get organized.
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Giving someone financial advice is a really bad idea, man. I advised my brother to buy some Hive about two years ago. He bought some Hive but every time the price went down I felt under pressure. He finally got 10% in 2 months but I decided not to do it again.
hehehe... Your story had a happy end, which is great for you, and for your brother... You didn't pay a big price for that life lesson... 🙂
That's why I insist on repeating that my posts/words are NOT financial advice at all! Just sharing what I'm doing... 😉
Ended good but it was very veeery stressful. I was always checking the price for selling his assets 😂
Oh wow, perspective really means a lot, especially when you compare both graphs. I think being patient is one of the hardest things to do in crypto. Sometimes, it does seem that everybody is making money in crypto but yourself, when the reality could just be that your moment hasn't arrived yet, zoom out and you'll figure out the trend is still intact, not much has changed.
That's a very nice perspective! It's true that it always looks whenever you BUY something, the price drops immediately... Usually, that happens as most of the time, we hit that BUY button when the price is already topped... But, it pays off to wait for an additional cycle and take profits... Especially in tokens like BTC...
Right, this only works with tokens with strong fundamentals and have a good chance of coming up again in future cycles. Buying the top on a memecoin is always a bad trade lol
Haha this is so true! I think I am one cycle behind you.. Exposed to cryptos during the 2017 cycle.. Bought low but didn't sell at highs during the 2021 cycle.. But doing much better this time.
!LUV
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First cycle to test the water, make mistakes, try to pay those mistakes as cheaply as possible... Second cycle (and future ones), for taking profits... 😉
90% of people in crypto have been guilty of this.. I didn't know a lot of people who took profit in 2021 except one person. I think it's part of the journey. I think the regret of 2021 is why many people still think alt season won't comeback. Sorry for digressing.
Unfortunately you might have felt responsible for your friend's losses, but the bitter truth is that they actually made their decisions, even though it felt like you gave them the "good news"
The "Holding mentality' is hard and only a few people understand this.
That's for sure! Taking profits is a problem when you just start, as we wait for the "moon" price... 😃 It gets easier when time passes and when we learn our lessons... 😃
I know.. But it still hurts when something like that happens... It would be nice that the story had a different ending, but it is what it is... Lesson learned! 💪
I would say, it's ok to explain friends crypto and stuff, teach them then let them choose if enter, with what amount and then if cash out or not, otherwise you get blamed
That's what I wanted to do with my friends, but it didn't work out... lol... The one who bought (from the post), got burnt, and quit... The rest didn't even try... But, that's on them, not me...
And... if the thing goes bad, you are always the one to get blamed... lol... 😃
Great post!
I think its how it starts for many of us.
ouch
The earlier you got in, the bigger fool you were... (for others) 😃 Those who bought BTC in the first year and didn't sell are the true champs! Imagine how they were mocked by everyone in those days... 😃
hehe yeah, that must have been wild! 👍
Apart from my family, nobody knows my Hive profile.
I talk and discuss, but since nobody knows how much I read and research about crypto, they do not consider it advice.
Hehehee... It's very similar to my position... Maybe 2-3 family members have an idea about it, but the rest, not... 😂
That's hard and makes sense to keep your investments to yourself in those situations.
It is a shame he didn't double down at $4k and results would have been even better.
Imagine that! Doubling down and selling now! It's a pity...
You never know what will happen. You should buy things when they are cheap but people are scared. Once the price runs, its easy for prices to drop down and they are scared to hold onto it.
Thanks for running the pool and for the BEE/STARBITS.
It sounds so easy in theory, but it's very hard in real life... 😃 Especially for newbies... It's much easier to buy when the price is going up and everyone is thrilled with that... FOMOing together and burning out in a few weeks/months... 😃
I don't think you can learn to take profits unless you get burned on your first cycle. Yep, I did the same and now I am ready!
True! The lessons where we got burned are the most valuable!
Without making those mistakes, I wouldn't be ready for the next cycle either... So thankful for all the pain in 2018-2019... 😃
Good to hear that! 💪
!BEER !BBH
Posted using The BBH Project
I also made a mistake in 2021. I had a lot of things, their prices were quite good, but I couldn't sell them. Today, their prices are negligible.
Taking profits is crucial...
Thank you for the STAR IT'S!
You are welcome! I hope you will spend your STAR IT'S well! 😃
It's a great one for encouraging your friends to join and make his life better.
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BEER.Hey @ph1102, here is a little bit of
BEERfrom @fiberfrau for you. Enjoy it!Did you know that
I get you. I don't like to talk about crypto with friends either and recommend anything... unless they ask. I had a somewhat similar situation, although the guy that joined crypto via my recommendations started to look around and invest on his own for a bit, but after a short while he decided it's too much work and sold everything at about the same price, he said.
That's good... I mean, not good that he quit, but at least he didn't lose money on his journey...
And regarding the "too much work", that is very often the thing that people mention... I suppose it's not that "too much work", but rather more than a "get-rich-quick" scheme... 😃