Don’t Get Stuck
If you are new to Crypto, you may find yourself checking CoinGecko or LunarCrush every 10 minutes, desperate for some bullish action. It makes sense, it’s exciting, right? The only thing is unless you are planning on selling, it is pretty much a wasted endeavor. Getting caught up in this habit ultimately begins to eat away at both your productive and free time. Before you know it, you are numb and slow in terms of true productivity.
One Size Fits All
Whether you are full-time Crypto or looking to build something towards your retirement, you are still in some way building. So, wasted time is equally as important to you. It is better to plan your time and the goals you want to achieve each day. This is one of the reasons I work on multiple devices. Friends always laugh at me because I walk around with a handful of devices.
I can be busy writing and click through tablets around me without breaking my routine or attention span. However, sitting and refreshing CoinGecko every few minutes is not going to help me. Focusing on getting things done actually forwards my objective, as pretty much every action in the Crypto space is monetized. These are such simple and obvious truths and yet are very much underutilized by most.
Where Does This Lead
Once you get caught up in these disciplines, you begin to think differently. All of a sudden, a price drop is not as devastating. Sometimes you can almost wait in anticipation of prices plummeting because you have plans and strategies that actually require this price action. If this sounds strange to you, then you are still at the very surface of Crypto.
The deeper you go, the more you do, the more you realize. This ultimately brings about a new awareness of creative opportunities. Waiting for the price to go up is quite simply something that requires zero effort from you. Rather dedicate your time and attention to activities that will cause the value of your portfolio to go up.
The Business Mindset
This is the difference between speculators and those that actually build in this space. Those that choose to build, are in essence building a business. You do not necessarily require the asset associated with your business to rise in value in order to make money. Look at businesses within the gold market for instance or even oil.
The price of oil goes up and down continuously and yet there are many billionaires extracting ongoing wealth from businesses centered on oil. If you are simply waiting for the price of BTC to go up in order to secure a profit or income, you are merely a speculator.
Speculators Are At The Mercy Of The Market
This is very much the reality! Buying low and selling high requires the price to actually go higher. There is nothing you can do as an individual to accelerate this event. You are simply waiting for the market to smile on you, enabling you to generate a return. What if the market is moody and refuses to smile for years?
This is where the business-minded approach takes a portfolio to higher levels without any price appreciation whatsoever. For us who have realized this, we have set our hands to work within this pattern of thought. For the simple reason that it is the only winning strategy in all market conditions. Your income might fluctuate but it will be consistently coming through month after month, providing you and your business are working.
Stepping It Up
This idea can be taken even further by actually building and creating an economy. In other words, constructs and protocols pay the overseer and designer. This includes DeFi, staking, lending, upvote economies like Hive, as well as other passive income models and ideas. When you start to put this all together, you begin to see the value.
Even in a difficult market, this can easily outperform the loss incurred by bearish price action. At the end of the day, builders understand something pivotal to generating wealth in this space. To builders, price appreciation is at the bottom of the list.
Why the Bottom?
Well, for the simple reason that it is the only approach that is outside of their control. A builder is dedicated, he wants results. He is not simply going to stare at a screen and be happy with that.
Builders actually derive satisfaction from achievement. Progress leads to further advancement because their motivation has been stoked by success. When prices eventually rocket, they are not happy that the price is up. They are happy that they were busy building when the price was low and now it is up! Can you see the difference?
Proactive Approach Produces Power
It is this proactive mindset and approach that sets the successful apart. In the mind of the builder, it is never enough. More can always be done and therefore should be done. This in essence is power, “to move with great speed or force”, which is accomplished by a compounding of action and strategic execution. Some may already be thinking that this sounds too much like hard work. Unlike what the media spits out about how fortunes are created in the Crypto world, the reality is that hard work and commitment are at the foundation of any true success. I say true success because I am speaking of what an individual has accomplished, not his parents or broader family.
Don’t Become Inspired By The Deception
The silver spoon often appears as success but is in essence actually a weakness. The reason is that a person in such a position has achieved or produced nothing in order to receive it. There is no evidence of success whatsoever. There is however success visible upon the individual who is bestowing wealth or position to a family member. Unless of course, it was handed down to him in like fashion. Unless you are born into a similar position or marry into it, prepare yourself for the proactive approach.
There is satisfaction in accomplishment and reaching your goals. This produces a form of wealth in a person that can neither be handed down nor bought.
Thanks for journeying along, see you in the next one!
First of all, I am not a financial advisor. All information provided on this website is strictly my own opinion and not financial advice. I do make use of affiliate links. Purchasing or interacting with any third-party company could result in me receiving a commission. In some instances, utilizing an affiliate link can also result in a bonus or discount.
This article was first published on Sapphire Crypto.