Why Do Your Crypto Goals Matters For Sustainability?

in #hive-1679222 years ago

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It's always difficult for people to carve and build their own crypto goals without being influenced by the external pressure to replicate the success of others. What is the meaning of this?

For example, the crashing of LUNA gave some crypto whales a buying opportunity, not because they wanted to invest long-term into the project, but to cash in on any upward movements in the price and some of these people made decent profits.

Now, this profit was made because this person had deep pockets and that's why they're called "Crypto whales" the size of their pocket means they're immune to some certain kind of loss and willing to take calculated risks in unlikely situations.

However, we have more people who aren't crypto whales riding the "high line" and leaving their defense opened up because they're trying to replicate the success of others without balancing that decision with the possibility of failure


Choices, Not Necessity

Let's face it, the diversity in crypto, different token, projects, coin, DeFi, and so many others are there to provide people with choices rather than become a compulsion to everyone in crypto. In the beginning, people only had the choice of investing in BTC and some other coins, but nowadays we have other coins that have outdone BTC by all standards.

However, the reason for the choice is to give people the extra option to suit their goals, mentality, education, exposure, or even means (money) which is the most important. But some people want to own everything and participate in everything, with the little perseverance they have towards the time taken to grow a project.

Of course, it's understandable when people want to participate in a lot of projects to increase their chances of profit, but doing this with a shallow pocket is risky.


The Ultimate Goal For Shallow-Pockets

Let's take a look at Hive for Example. Providing liquidity is probably the biggest aspect of yield at the moment. While the money is good, the risk takes some people to the cleaners especially when their crypto goal is to build.

There's probably no one who isn't interested in maximizing their efforts and DeFi on Hive seems to be the best way. However, one thing is, if you're not prepared to lose, don't let the thoughts of outrageous rewards sway you from the ultimate goal.

I feel like the ultimate goal for a person without deep pockets in crypto should be sustainability, stability, and longevity. One of the reasons why people gas out, run out of funds or get depressed by their losses and lose Faith in the process is their poor management skills.


Why Goals?

A Crypto goal keeps people in check, and this s because there will always be unimaginable money in crypto, and whoring after these massive gains will eventually take one off their major focus.

Everyone's aim indeed is to make money off Crypto, but not everyone who is attracted to "yields and gains" have the mental capacity to handle the loss that eventually comes with it. The aim or goal of people determines the sort of project they're vested into, but without a solid aim, people find themselves chasing after the "next big thing".

Hive may not be mainstream at the moment, but its concept of growth and sustainability is one of the attractions that keeps people vested and probably one of the reasons behind its relative success, however, like every solid projects, it's beginning to provide even bigger opportunities which sometimes takes the focus off the flagship project itself.


Recognize The Timeless Pursuit

This is very good, however, I do believe people should properly define their crypto goals rather than defining the amount of money they want to make in a specific timeframe. Making money in crypto should be a timeless goal and as for people who do not have a lot of money, whoring after profit is bound to increase their opportunities to lose and take them off-board.

This isn't to say people shouldn't take risks. How many people are managing the risk they're taking, or getting educated or informed? How many people will invest their time in the learning process?

While crypto feels like a sort of "learn and earn along the way" thing, people with limited funds sometimes cannot afford to lose else, they're off the table, taking adoption down the drain. While people do not care to lose sometimes, it's important to target little, short, and systemic growth along the way rather than buying more into risky ventures. The inability to cultivate the right Crypto asset management is why some people fail to cut.




Interested in some more of my works?


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Budgeting: Paying Yourself First With Crypto
Establishing Compatibility: A Case For Self-Improvement

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On Hive, if you don't keep your eyes on your path, you can easily be swayed in any direction that the mass tells you they're moving.

People write posts all the time but do they do what they say they're doing?

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Goals helps in stability and this has to be intentional. Crypto goals helps us not to focus on the price but quantity of the assets

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I prefer goals as a way to reflect on what I did over the past month and to make sure I am still building. Keeping yourself accountable is always a good thing to do.

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Setting goals in crypto? It's funny because I did try it and just like you mentioned, it is hard to keep up with the pressure of the outside world.

I would just assume I had a small pocket and a wide mouth, so to me goals weren't necessary, I just wanted a refill. The pocket sucks 😂.

But I would take time to follow your tips.

I should work on a clear goal from now on.

Thanks for the comment, I think we don't always admit to ourselves how difficult it can be at all time, I think a person needs to appreciate their efforts with every attempt and times they've tried to set their Crypto goals. Well there's the issue with small pocket as well. But we need to define it these goals for our future's

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It's a long list when it comes to goal setting because there are different facet of our lives that we need to keep in check.

Starting my crypto journey just 2021 was through Luno before FG blocked transactions then hive found me.
I haven't been able to set any goal with Hive because when I don't understand in totality I tend to be shaky. Goals anyway would always help us be thorough while moving forward.
Seriously, I'm yet to be ready for another goal setting living my doors wide open.

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Goal setting can be good, but sometimes it's difficult to keep up with it or them. I just set goals that are beyond my capacity and most time I've managed to keep up with my goals these days.

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Just being candid right?
I recall when I used to beat myself up and living in the shadow of myself when I see and know I wouldn't be able to reach them.

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Well goals are meant to be met or unmet hahaha, whichever way it is, I try as much as possible to never left my failure tailor my courage, being in crypto all these years has helped me a lot

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That's a better way to keep it together, sure.

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...but doing this with a shallow pocket is risky.

Apart from being risky, but with the inadequate calculations and knowledge, even when it profits it would not still amount to anything on the long run. So why don't we take the time to learn some rudiments which are..

sustainability, stability, and longevity.

I think I need to start have crypto goals cos now I don't. So your bullet @josediccus hits me too..😢

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The successes of others are so shiny that many other people want to emulate it the same way without taking into account the difference in their circumstances. One may dare to lose 10k dollars, the other person might not even have 100 dollars to lose. Before getting into anything it is important to decide how far you are ready to go with patience. Besides, along with the hopes of profit, the loss should also be seen coming.

I have my crypto goal of growing. I see others growing in multiple ways and multiple platforms. I also have the desire to grow like them but I know that I cannot manage myself everywhere that's why I have focused myself on hive only. I have nothing to invest from outside. To grow me in crypto here, I have planned to stake up everything I earn here. This is the loss that I can bear and that's why I am taking only this much risk. Not more than that

Planning to stake up everything you own is absolutely good. We cannot emulate the success of others, some people are absolutely going to be richer than us.

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That's why it's said,"do you and in your own way and style."

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And it is well said. 😃

Along the way, I've tried to mirror the success story of others and thus far it hasn't worked, I've taken to doing what I can.

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Did the same at sometome butiy doesn't afetrall you eventually pick those piece that work and integrate them to yours.

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The Whale cryptoinvestor versus the Minnow Cryptoinvestor

I enjoyed reading your post, and you make two very good points.
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Relative Risk

  • The first difference between a Whale and a Minnow is what I call relative risk.
  • If your a whale, risking 1000$ loss is nothing.
  • But if your just starting out, the loss of the same 1000$ could wipe you out.

Different points in the investors journey through time and knowledge.

  • The whale has arrived near the end of their journey, but a smaller investor is just starting their journey.
  • Its easy to take losses when your sitting on a mountain of cash, at the end of your journey to success, via a well worn path.
  • The smaller investor travels a newer path, with many risks still yet new to them.
  • So even when they both make the same investment...
    • the Whale sees things the Minnow does not,
    • the Whale takes precautions the Minnow does not,
    • for the Whale can anticipate things, the Minnow can not.

  • In this way, even though both the Minnow and the Whale share the same dream, they are at different points in their journey and differe4nt stages in the learning process.
  • To assume the same risk, without the same knowlege to manage it, is unwise.

@shortsegments

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