Focus On Units Not Price
Focus On Units Not Price
I do my best to get into AMAs and podcasts but they often suck up a ton of time when I'm trying to focus on other things. It's why I've come to enjoy listening to them later on with headphones while I do some busy work outside. The wealth of information you can get from these is seriously powerful and I in particular like the talks and learning that happen on the LeoFinance AMA which you can check out on
Twitter - https://twitter.com/FinanceLeo
Facebook - https://www.facebook.com/groups/430724151867174
And of course the recordings here on LeoFinance - https://leofinance.io/@leofinance
During the episode today I overheard Focus on Units Not Price and that's something I often try and tell people to do but never summed it up as simple as that.
What Is Focusing on Units Not Price?
Many of you have been in crypto for long enough now that you know tokens and the fiat price that goes with them. Many and boy do I mean MANY people value crypto on the weight of fiat value. How much dollar value can I get out of a bitcoin or another asset. Sadly that may never change and currently is the main factor of what many people feel is the value of the token. But there's much much more to it such as development, applications, use cases, defi, gaming, entertainment and so forth. All of these things have value. If I go to the movies and I can buy a ticket using bitcoin say 0.01BTC that now has a value. It doesn't nessasrly have to have a fiat value behind it.
It all goes on what someone is willing to do or trade in exchange for what you have including crypto. That's the only point real value is achieved. However over the last few years a greater tie has been put on crypto that the only value it has is how much fiat I can get out of it especially with the introduction of stable coins.
Shifting your mindset into focusing on units you can start to see why it becomes such a powerful thing.
For the most part right now people are in shock and thinking they lost everything and they need to dump their crypto to squeeze out any little bit of Fiat they can out of it. This same exact weird thinking goes into the stock market. Instead think about doubling down or better during times like this!
In the case of crypto focusing on units means I now can buy more or even earn more here on hive and Leofinance. I can now buy 3 hive for what one would have cost mew a few months ago. I can now buy about 20 LEO tokens per $1 far greater than just a few months ago when I would have gotten about 5 LEO tokens.
Are you starting to see how thinking in unit over fiat quickly starts to change your mind about stacking. As everyone starts selling you should be thinking about buying. What's really awesome about Hive and LeoFinance is during these down turns we often see activity slump. But that same amount of LEO and Hive inflation tokens are going to be printed and given away each day. This actully allows you to earn more crypto tokens now than you did before. This is the time to build your bags and not get into fiat. Your fiat times should have been during those mega rallies and when people got real weird about NFTs and buying junk left and right.
So get out there and remember tomorrow is LEO POWER UP DAY!
Get your LEO tokens ready.
*This article is for entertainment purposes only and not investment advice.
Posted Using LeoFinance Beta
https://twitter.com/bitcoinflood/status/1536768185873178624
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I like your vision, it is very useful to think in units and not in the price, because when it returns to the old price you will have up to 5 times more.
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That's when one is able to structure his thinking for the long run, it's a helpful math, but difficult to carry out...
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Right, it really helps a lot to be a better trader or holder.
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This is my strategy for most of my bags, buy more the cheaper they get. Because you for sure know whatsup.
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That's the trick, keep stacking them when times are tough.
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It's always important to focus on units, it's sad that for now, many look after the fiat value, but there are of course some reasons.
Reasons like it being an individual source of income, it's then difficult to not care about the fiat value because you literally sustain on that.
That said, I believe until people find a way to balance this, then it's inevitable that panic during sell offs will always be a thing, and units will not be seen for its value and opportunity created to fiat value...
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That's right I think the best approach is to think about the value than the USD price of that coin
It is indeed a good thing to see the units or quantity and not the price. I usually whine seeing the price in the market and the husband always remind me not to look it at that way. When I did, I no longer get so stressed out hehe.
And yes, it's LPUD in 10 hours I think.
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Focusing on the number of units you're stacking rather than price is a good tactic.
But just remember that price still matters...it just doesn't matter yet.
You've gotta stack crypto with a use-case and the tokenomics to ensure an equilibrium price will be found.
There's no use stacking a bazillion coins if there is no reason for anyone to buy your chosen crypto in the long run.
Posted Using LeoFinance Beta