Joe Schmo and Smuck - To Invest or Not Invest

Joe Schmo and Smuck - To Invest or Not Invest


Joe here, or actually Chris, but for this article, call me Joe.

You hear about the big whales, the big money in the crypto market, that can help move the price. We want these people buying because that starts the trend of it moving upward. These big money types are simply trying to manipulate the market to make a big payoff for themselves. Most of us are not those people. I've got a couple of bucks and I want to invest.

Stocks have always been intimidating to me, and ForEx... I don't know, it seemed like it wasn't real. I understand it is, but it seems like it's not a way to really get something out of it. Bitcoin is the poor man's investment platform. We have our 401k and pensions and other retirement options, and they all suck. Seriously. Hell, you get taxed for your retirement. Our best option is to get in on this service and let our money flourish... but should I buy right now?

The answer seems obvious... yes. At this very moment of writing this, Bitcoin has:

  • 10m: Up .242%
  • 1h: Up 1.891%
  • 24h: up 10.369%
  • 1w: up 23.459%
  • 1m: up 36.036%

It's finally improving. I was lucky and had some extra money and now own 0.01889538 bitcoin. Now seems like the time to buy, but I'm in a dilemna. I'm disabled, unable to work, have to donate plasma twice a week just to have money to pay off my bills and credit card. If I am careful in my spending, I could pay off one of my credit cards. I'm not Joe Schmo, I Joe Smuck

If I delay and put it in Bitcoin, and this trend continues, then by the end of the year the value of BTC could be worth upwards of $50,000. That would be wonderful, but would be the worst time to invest. Now is the best time. If I put in around 7000, say like $100, then my investment is worth ~6 times that by the end of the year, or $600. Right now in my life, $70 is what I survive on week to week, so that kind of investment would be wonderful. Should I invest, or be responsible and get my finances more secure?

Why should you care if I invest or not? While I acknowledge I'm an outlier, I do represent the thinking of the common man. If I had a $1m to throw around, I might invest now, or put my money somewhere else to create that big payday. And I am desiring a big payday, but us Schmos and Smucks, we do have our part in what makes Bitcoin valuable. We are out there buying when the buying is good and we are likely to hold onto our investment even when it tanks. We are like a butterfly flapping it's wings and causing Godzilla attacking Japan.

It seems those predicting what BTC will do are most of the time guessing. For the last year I've heard that the next quarter it will start to improve, that we hit the bottom. They use such fancy market anaylsis with fancy words, and most of it I am clueluess of what they're talking about. Their predictions were right, it would go back up again, and I understand that no one can predict the future, but I as a Schmo and Smuck have to just see when it is trending and make a best guess and my best guess is... delay my paying off credit card for a month and buy now.

That scares me a lot. It could succeed, it could drop again. Damned and Damned if you don't.

How do you rate this article?


0

0

mad_cat
mad_cat

I am an author, Udemy Instructor, and blogger. I also suffer from Post-Concussion Syndrome and using DDPY to try to repair my mind.


Joe Schmo Crypto Experience
Joe Schmo Crypto Experience

There's a lot of experts out there on how to understand cryptocurrencies, but nothing out there about how the average joe thinks.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.