"A man is rich in proportion to the things he can afford to let alone" – Henry David Thoreau
I saw the price of Bitcoin drop to $30k. To me it didn't matter since I bought below, but I knew that it would shoot back up. As I type this, BTC is at $37k. It got me thinking more about this quote. This whole quote applies to the rest of life. Let's delve into investing. If you are emotionally mature enough to handle the dips - your money temporarily lose value to multiply over time, you are head of the curve. When my money is invested, it isn't liquid. I treat it like I lost all of it. I invest what I can afford to lose and leave alone. That's the message. Learn to be patient. On the topic of money, being able to stop yourself from buying your wants is another big thing. More money for wants = less money for investments. Less money for investing = less money for crypto. I started to think of why I became even stricter with my spending. That money could potentially give me the opportunity to earn more passively!
What weakness did I overcome?
I reminded myself to become even more frugal. That money I want to use to eat out can be used to buy more food in bulk, or better yet, for crypto.
What virtue did I acquire?
Patience and being emotionally stable during the dip everyone panicked about; they thought it would be 2017 again, but the bull run is just starting. I personally think BTC will hit 50k sooner or later. I'll see you ladies and gentlemen then! ( ͡° ͜ʖ ͡°)