Topic: Smoothie's take on price and people's emotions related to price - page 2. (Read 1052 times)

I've noticed that many people are emotionally attached to Bitcoin and its price hikes or falls.

What this tells me is that people are partially if not completely invested in Bitcoin for the wrong reasons.

If your mere goal is to get rich quick or to only turn a profit then this is why you have these strong emotions connected to price.

For me personally Bitcoin was a mindset change as with gold and silver they got me to think differently in terms of money, exchanging, trading and the entire financial system altogether.

The traditional financial system is broken where a select few get to create something for nothing (example: the fed is one of the few if not the only existing entity that can write a check with a balance of 0 on their books in order to "create" money/fiat). An alternative that is outside of government control at its core was needed. I still believe that Bitcoin is that alternative.

Some of the other wrong reasons to use bitcoin would be to do illegal activities which I do not need to list here. Not sure if people doing illegal acts are emotionally stuck on the price of bitcoin or not (anyone got a take on this?).

In 2011 I stumbled upon Davincij15's youtube channel and prior to that I had already been heavily investing in silver with every paycheck. Davinci's explanation of bitcoin intrigued me and the rest is history.

But back to the topic of mindsets. I've found that if you change your mindset in life on how things work and how you view them it is the same thing as visualizing making a basketball go into a hoop like professionals do, you will eventually reach your goals of say financial freedom.

But this does not come (for me it didnt for years) quickly as it takes time, effort, saving, research, sound decision making, and a little bit of luck.

For me I consider myself very fortunate to have what I have today (family, assets, relationships, finances).

Just wanted to encourage those of you who have been emotionally attached to the price of bitcoin to take step away from the situation and go take a walk and reassess your reasons for being invested or interested in bit coin. Are they the right reasons?

Many of the early adopters who are highly respected today still say do not invest more than you can afford to lose into bitcoin.

I say don't invest into bitcoin for the wrong reasons.

Price may go to $10,000 or it could go to $0 but in the end did you invest for the right reasons?