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RE: My First Crypto Buy...Tell Me About Yours!
I got into crypto late 2013, early 14. Back then, I believe it was Litecoin and then probably Doge. I didn't shill anything really ever -- including Bitcoin. Now big fan of DigiByte, LiteDoge, EOS, and of course STEEM!
Wow @writewords you have been in it for such a long time compared to me! I also hold Steem (still trying to build some SP)... and EOS! and Bitshares too. How do you feel about the current state of the market? any comforting words? lol
These cycles are normal. I was talking friends into it when prices were "rocketing" from 200 up to 1100 back in 2014 and the few who came in didn't HODL. I missed my first thought of buying when BTC was at $18 a piece. Still nowhere near rich, but I'm not really intending to be. I do think prudence is wise. If crypto appreciates long-term and fiat depreciates... why use fiat? Then again, with ICOs as rampant as they are, as well as forks... pretty much it all is fiat to a degree. We have to look at the fundamentals of a coin project like we do a company. Consider the tangible value and liklihood that the network stays around and has some indespensible use case. That's why we're all here. We're on this network because we see a tangible result from the product. It's like a Facebook but fully-decetralized (pretty much). Steem should start a bid network for promoting posts that itself is fully automated and allow users to turn off ads in settings. Users would get paid a portion of the ad revenue for seeing it and the network would gain liquidity. It would also cut down on vote buying bots. Crypto is still new. You're still an early adopter. Trust your instinct. My biggest mistakes involved not HODLing and selling off profits because I tend to regard free time, freedom and experiences over structure and wealth-building.
Thanks for the great response, I love hearing insight from people who have been in the crypto game longer than me! I do always try to look at the fundamentals of every coin I buy. I agree that Steemit needs to do something about promoting posts, its very hard to get seen here in the beginning which can cause people to quit. I mainly spend my time commenting and trying to meet new people. Thanks for your insight! :)