Last week, I purchased a bunch of parts to build a high-end Ethereum mining setup, which I’m hoping will pay itself off in a matter of months, if the prices remain favorable. To fund it, I used a very large portion of the profits I acquired from mining and investing in Bitcoin. I decided I don’t want to use any real cash to fund this endeavor, and fund it purely with crypto-currencies that were mostly mined. I might as well reap some of the reward, as you never know what tomorrow will bring, right? The price could crash in an instant, as it has before.
But part of me also feels that maybe I should just hang onto the coins, use my hard-earned money to fund the new miner instead, and let this hot Bitcoin investment keep bubbling instead of “knee-capping” valuable growth potential.
Basically, I know that I made the right move, but my rat-brain, the impulsive brain, the needy brain, the weak brain, likes to endlessly wonder “what-if” and sabotage wonderful opportunities that are likely better in the long run.
Rat brain: “If the price of Bitcoin suddenly explodes, I squandered all that potential! Why didn’t I hold out longer?”
Smart brain: “While that indeed may happen, you should be thrilled, because not only did you not lose anything, you made a killing! And you cashed out! And you still have a great investment, no matter if your new mining endeavor fails!”
Stay strong. Don’t let the rat brain fool you.
P.S. This post was actually quite therapeutic to write.