Tongue in cheek advice for investing in Bitcoin: A penny for your fears, and a dollar for your faith.
bitcoin·@steveitt·
0.000 HBDTongue in cheek advice for investing in Bitcoin: A penny for your fears, and a dollar for your faith.
 Okay, we ALL have just seen what happened to Bitcoin. It is a CORRECTION, not a crash. But the distance between today's price of just over 2K and the price of yesterday (or was it 48 hours ago?) of over $2500 is still just 18 inches--meaning the distance between head and heart. I know it will go up again. I understand the fundamentals of money and economics. I understand that it is a new technology climbing the adoption curve and all of that and yet... For those inclined to "follow their hearts" in investing, to put all bets in when things are climbing sharply (FOMA), and wondering if we should cut our losses at large drops I say--come on guys, we gotta grow up. But if tough talk doesn't help, and you are one to let emotions get the better of you from time to time, like me, then I can only offer you a trick, a tactic that helps me through it. The trick is to stop yourself, preferably before you are logged in to an exchange, etc. and ask yourself one question: "Right now, am I motivated by fear, or by faith?" You'll know the answer. Faith is based on proven principals in spite of circumstances. Fear is based on bad circumstances and often in spite of known, proven principals. If the answer is FEAR, and you still can't stop yourself from doing something, then sacrifice the proverbial PENNY a very small investment, to calm the nerves. If the answer is FAITH, and you are investing based on proven principals in spite of the circumstances--then invest that DOLLAR (but only that one you can afford to lose, remember?) I am by no means offering a professional advice here, just sharing my personal experiences. That's it, very simple! In time, maybe you won't need the "training wheels" of this tactic, but for now you are in good company because I still do!