Tuesday, November 7, 2017

Is Bitcoin Ruining Our Healthy Respect for Money and "Normal" Investment Gain Expectations?

We've been seeing Bitcoin hit ATH or all-time highs several times in the past few weeks and it's an exciting time.
That said, I was curious as to whether the insane rises in Bitcoin and Cryptocurrencies, in general, is ruining people's healthy respect for money and even ruining our idea of what a normal return on an investment is?
In the past investing in an index fund or stocks or mutual funds and seeing an 8%, 10%, even 12% return was AMAZING. Now days however with people seeing gains of 3000% or more on some altcoins, with people seeing their money in Bitcoin literally double over the course of a couple weeks I get the feeling some people are losing some respect for money and potentially this is forever changing what we think about what a normal investment gain is.
I'm by no means telling people to sell, however, I would like to see people kind of take an even-tempered look and re-evaluate their position in crypto. If you bought into cryptos to the tune of say $2,000, and that money today is worth $50,000, take a step back and ask yourself how many hours or days or weeks would I have to make at my day job to make that kind of money? If the answer is an entire year's salary, you may want to consider maybe taking and locking in some profits.
Ask yourself if Bitcoin went to $1,000 tomorrow would I be devastated and kicking myself for not selling at least some off? If the answer to that is yes, you may want to consider taking some profits.
Really I just wanted to start a discussion. I like the rest of you find this time to be very exciting and I'm even more excited about what the future holds but let's keep things in perspective and keep a healthy respect for money.

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