It’s not like me. To take cold hard cash and, whoosh … drop it into a volatile and unregulated market. Cash in the bank = good, taking the same cash and basically throwing it at the wall hoping something will stick = stupid! So what happened? Why did I leap before I looked?
Well, as I said in an earlier blog, sometimes if you look too hard before you leap – you never leap. You never take a chance, you never “pays your nickel and takes your chances”. I knew one thing for sure … if I didn’t give this a try, I would regret it.
So, I did it. Took a nice chuck of change, enough to play with but not so much I’d throw myself off a cliff if it went bust, rolled the die, spun the roulette wheel and …
Well, true to form (it would seem), the moment I buy into something … the value drops. Bitcoin, which had been shooting into the stratosphere stopped and began a slow decent back to earth. After I bought in, of course.
Think long term … what goes down might go back up again (hopefully and soon!) so, don’t obsess about it. I took a portion of my fraction of a bitcoin and diversified, or tried to. I’m not techno-savy when it comes to buying or selling, and don’t understand market, margin, and other terms. So, on top of entering the wild west of finance, I’m doing it with little to no understanding of what I’m doing.
This isn’t like me at all. I like to know what’s what, the rules, the format, the structure. Entering the crypto-currency market would be akin to dropping myself into a strange city, where I don’t speak the language, without a map.
Yet, here I am … for better or worse, to sink or swim, throwing that spaghetti against the wall to see what sticks!