Don't Let Crypto-FOMO Ruin the Revolution
Right now, the prices of cryptocurrencies are very dependent on belief and speculation. People are investing in coins without understanding the underlying philosophy or use cases. They simply see prices going up and pile on. As a result, there are wild swings in prices between different cryptocurrency projects. Bitcoin was way up, then Litecoin exploded, and now Ethereum and Ripple are making a run.
As various coins charge up and down the charts, it’s easy to get lured into a fear of missing out. Watching Litecoin go up makes you question BCH. Watching Ethereum makes you wish you bought earlier. It is easy to lose sight of the long-term in the short-term ups and downs.
A lot of people will make a lot of money by correctly predicting what the money of the future is, but that is insignificant compared to the benefit of cryptocurrency in the long-run.
No matter what you own today, we will all be massively better off for living in a world where cryptocurrencies exist. We will have a better way to transfer money, to do business with people around the world, and to store our wealth. Simply by being alive in a world with sound money we will all be richer and that is true whether you own the right cryptocurrency or not.
If you focus in on the fact that a better form of money is being built before our eyes, you will experience appreciation and excitement instead of fear and frustration.
Right now there is a rush of time, energy, and attention into ways to get rich quickly without actually putting in effort or creating value. And certainly, new fortunes will be made. But trying to time ups and downs or worrying about making a fortune speculating is a recipe for anxiety. The better plan is to ignore the FOMO, to focus on becoming a more valuable person, to invest in things that make sense to you, and to enjoy the event as we watch a revolution in our money.
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