In my opinion this is our current conundrum. We do not know if it's going to be the same this time.
Agree completely.
Yep... and to the newbies, bear this in mind going forward IF we are getting into 'dark times' now.
When I first started putting money into crypto, it was right after the first big Mt Gox pop over $1000. I wasn't able to get an account opened on Gox (thank god) but I started buying BTC from coinbase right around $950 when it first "dipped" below $1K. I thought to myself, "Oh man, this is gonna be easy money: it's certainly gonna get back up over a thousand right away, I'll make a quick 10%!" (yeah right).
Then of course it continued down down down $800 $700 $500 $300 and finally bottomed-out some damn crazy low point like $250 or $180 or I dunno exactly, don't even really wanna THINK about those dark days any more, now that we've left them so far behind, LOL
All during that time I learned more about it all and just kept buying more whenever I could afford it. Lowered my per-coin average cost to like $550 by the time things turned around (little over a year ago) and we *finally* got back to $550 "break even" then $700 then $1000, $2000, $4000, and now (maybe?) peaked here just over $5000 (?) per coin.
During the DARK days I always thought about, "What it must be like for the "real early adopter guys" who got in ahead of me, those lucky guys who bought bitcoin when it was in the prior $10 to $100 cycle?" Did they care that much about seeing it go down from $1000 to $500?
Yes, of course you still "care" -- it's easy to get used to seeing the nice big numbers that you see! BUT also, no, you really don't "care" that much any more either, not once you have long since cleared your break-even price and there is virtually NO CHANCE that your average-buy price will ever be seen again.
This seems to be the MAIN THING about crypto, to me... if you just get IN and stay IN long enough, just WAIT a couple years...? Then, yes, you too will be in this club where you don't have to really worry any more about these crazy ups and downs. It takes a while to get there but it's a really good place to be once you arrive!
This is really essentially what it means to be a HODL'ER.
And even if it all goes to shit and crashes and burns in the end, it's for damn sure still BETTER than leaving your money in the bank earning some lousy 0.05% interest rate and subject to the upcoming "bail-in" confiscations.
My two satoshi's for the day
"During the DARK days I always thought about, "What it must be like for the "real early adopter guys" who got in ahead of me, those lucky guys who bought bitcoin when it was in the prior $10 to $100 cycle?" Did they care that much about seeing it go down from $1000 to $500?"
This mindset is what I'm still figuring out at the moment.
I'm trying to understand myself too as i watch my XMR holdings go from average price of $2 to $150 then $80 without doing anything. Imagine those paper gains that were burnt during the up-down cycle.
Anyway, I want to understand and get used to this feeling of greed and fear within me.
Sounds like something he would cook up.
