Where does your strength of conviction come from?

Crypto has a wicked way of ageing us. Its thrills and spills as well as ups and downs have a nasty way of capsizing us and throwing us away from the path we thought we were bound for. After a while, we become numb to the shocks (and aftershocks).

Amidst the unknown, this simple truth shines glaringly, defiantly exhorting us to show it some respect:

*No one knows shit about fuck*.

But if we are truly honest with ourselves and admit that we cannot never really predict where crypto will go in the next 5, 10 years, why are so many of us conscientiously DCA-ing our pay cheque and spare wads of cash into crypto? Why do we regard BTC + ETH as blue chips and cherry-pick a few choice alts and hope that they will moon? Where does your conviction come from?

Is there anything that you do, any pep talk that you tell yourself to motivate yourself to stay invested in the crypto market?

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41 thoughts on “Where does your strength of conviction come from?”

  1. The most valuable thing military service taught me decades ago was when in crisis and a decision needs to be made quickly choose the least potentially harmful option at least until things stabilize.

    This lesson has guided me to crypto and kept me committed. I don’t believe crypto to be infallible or fool proof. I have no educated guess on the price of BTC or ETH in 10 years. And I certainly can’t identify a “head and shoulders” on a chart or tell you when a golden cross is imminent.

    However, considering all of my investment options as a middle aged man I see no higher potential to get me to where I want to be in retirement than crypto. I still invest in stocks, bonds, fiat savings; I do hedge my bets.
    But I also DCA Bitcoin and buy alts periodically with confidence.
    And I’m happy to say I’m still up despite the recent downturn.
    Bottom line, I decided long ago that crypto was my least potentially harmful option when investing.

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  2. I’ve lost many times in life, never knowing I was being prepared for the HODL life. Losing 50/70% investment and DCA down for the long term is easy when your used to losing….right up until you win.

    I’ve been tight financially since I had my son at 17, being tight in the hopes to be more secure in the future is my driving force, broke now is nothing new

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  3. Sensei, crypto is a new technology that’s slowly finding mass adoption. Check Raoul Pal’s videos on Metcalf’s Law. For a new technology that involved a social aspect (phone, internet, social media, and also crypto) the network becomes more useful and more valuable the more users enter. Crypto is on the same adoption curve than previous technologies, some say its adoption is even faster than that of the internet back in the day.

    More users = increased demand, while supply is limited (at least of the main coins like BTC (hard cap) and ETH (algorithmic issuance limitation through transaction fee burn)) = increase of price over time. So while short term price fluctuations are meaningless and hard to predict, the long term trajectory is very clear. At least for well established coins like BTC and ETH that won’t go anywhere. Altcoins are a whole different chapter, they come and go all the time. Most alts from the last bullmarket in 2017/18 are completely irrelevant today and it will be the same this time around. Once again, network effects matter. You can build an ETH killer with high TPS and low fees but if noone uses it or trusts it enough, it will never gain tractions.

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  4. I went down the rabbit hole in 2013. Was getting ready to start allocating capital right as Mt. Gox imploded. Completely wrote bitcoin off for dead, as many people in the space did. In 2016 as bitcoin started to crawl back to 1k I realized it was unkillable.

    Absolutely nothing that is happening currently feels even close to that time.

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  5. Buddhism/meditation has taught me patience and to accept that which I can not change.

    The 4 yr cycle gives me an idea of what to expect in relative time frame… Having been through 2018 has strengthen my will.

    I’m a long term hodler… And realize time in the market is better than timing it.

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  6. My strength in conviction comes from that hopefully one day I have financial freedom and have a early retirement.

    I do not plan to work my whole life, and that is worth some sacrifices on the near and short term.

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  7. This is going to sound rude but it’s the truth. My conviction strength literally comes from my ***shinny diamond balls.***

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  8. It sounds cliché, but The Tech. As we become more and more digital dependent is almost certain that the near future will rely heavily in new ways of digital finances and real crypto projects will be the answer to those. So bullish on solid crypto currencies, it is the future.

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  9. The fact that major corporations and financial institutions are putting loads of money and resources into crypto is why I’m not worried.

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  10. I gave up with trading The whole premise of Bitcoin value is based on a long time horizon. I calculated how much monthly DCA I would need so crypto was 15% of my retirement portfolio and now I just do that.

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  11. Looking at the history of bitcoin and realizing I’ve missed the boat of 10xs 100xs 1000xs time and time again. Life changing money over and over again. I say Never again. I’d rather be in risking it could all go to zero then be out and miss the boat again.

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  12. 1. The fact that fiat will always decrease in value in any historical civilization (unless it’s gold) so any asset is better.
    2. I don’t like the fact that some bank or individual can suddenly control my money if thing go bad for them.
    3. I don’t invest only in crypto so i wont lose my mind.
    4. Crypto is not mature (safe from hacks) enough to hold all my money in, so just part of my net worth should be in it as a bet on the future. But that part should be big enough in case the bullish scenario plays out and i suddenly become rich enough to ignore banks.

    (I’m 80% down but still think it’s a good idea to allocate more into crypto)

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  13. I don’t invest in crypto for myself. I’m doing it for my kids and if there is a slight chance to be able to offer them a better future than I’m in. I’d like to mention that crypto is not my only investment and it’s only what I’m comfortable to lose in a unfortunate event.

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  14. I have the most conviction regarding Bitcoin, am also invested in a few others. I tend to take a long view but nothing is guaranteed and mentally I’m prepared for risk factors that could nuke the coin or space. The thesis around btc that I namely subscribe to is that as it matures it may gain greater recognition as a viable digital store of value and gain greater adoption as an investment vehicle that people allocate small portions of their portfolios towards. In a world that operates digitally, I imagine that digital assets will gain greater prominence. But I am far from certain of anything, I find the space interesting and exciting in spite of the ups and downs, and the countless amounts of hucksters and scam artists.

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  15. My conviction comes from my knowledge: about our history, how we developed a civilzation, about the history of money and accounting. Furthermore I also heavily researched Bitcoin and Ethereum and yes I came to the conclusion, that these two Blockchains can provide tremendous benefits to: our civilization, transaction efficiency, monetary policies, to our companies, to empower individuals (also look at those who live under autoritharian regimes). In the end this is only my opinion, but usually once a good idea is spoken/ implemented it cannot be stopped, but who knows? I know nothing of what will come in the future, but it is nice to feel like I take part is something big, something that can be life changing.

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  16. Experience and time. I have been through many ups/downs in markets (stocks, RE, crypto, life, etc). If you have the time, $, and conviction….. then this is the time to be in the market or get into the market….. then, let time do its thing. It really is that simple! It doesn’t happen overnight – like so many people seem to think it does or wish it would.

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  17. Simple, if Bitcoin fails and goes to 0 we will remain slaves for the rest of our lives. I’m just willing to go down with the ship

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  18. You can’t just assume that people don’t know what they’re doing or what they’re involved in, just because you don’t know what you’re doing and what you’re involved in.

    Believe it or not, some people actually do “know shit about fuck” – and it is perfectly possible to learn a lot online so long as you are logical about it.

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  19. There is no level of authority that is invulnerable to the tools of logic. This is why we have censorship (by irrational or insincere authorities who fear the free exercise of the tools of logic), as well as decentralised networks to route around that censorship, and it is very clear, if you are conversant with the tools of logic, which of those two forces is going to win in the end.

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  20. Yes, that this market is only really about 10 years old and still alive and kicking. That interest just continues to trend upward and not downward l. That the overall market cap keeps going up and to the right over time.

    I tell myself that we’re possibly invested in the stock market in its really early days. Regulation will come, whether you like it or not but that clarity will really help this market out

    As an additional indicator, I’ve seen people that were absolutely anti crypto, saying it’s a scam, it’s going to zero etc. now, they believe btc will go to 10k and that’s when they will buy.
    From not wanting anything to do with it to wanting a target entry so they can get in, that’s a big shift in sentiment. Of course they most likely won’t get their target entry

    Just remember to zoom out

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  21. The more i invest, the less i seem to worry— which doesn’t make much sense.

    I think that i have such strong hopes that when i put money in low i only think about what could be and stay excited.

    Personally, days of 1k Eth is something i’ve wanted for quite some time.

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  22. I DCA and farm (DeFi + on chain staking) since day 1. Ups and downs don’t matter, still earning every day. It’s a simple concept really. It’s also a part time job with constant secondary research & pool hopping, but always profitable.

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  23. I was told to accept a meager 7-8% average yearly return and only expecting to see barely 7 figures *when I’m retired*, without a chance to really enjoy the remainder of my life.

    Crypto is the best lottery ticket most of us have. I’ve rolled the dice with other investment schemes, why not this one? At least I’m learning something…I was not happy to discover fees upon fees upon fees for a traditional 401k. It’s a complete racket, or a perfect skim right off the top for ‘adminstration’ and ‘maintenance’ where the numbers are all ready in a fucking database and paying a monkey to press the button got me out of that space entirely.

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