Rising Star Meme #71 - Let's Talk About the Millionaire's Mission!

Back then, I was reluctant and didn't know how/when to get into the Rising Star Game - monetary-wise, I'm speaking.
What caught my attention was the Millionaire's mission - get and hold 1,000,000 STARBITS, earn 10,000 daily. 1% daily RoI, i.e. my initial money back in 100 days, 365% profit in a year... seemed too good to be true at the time, y'know.

Fiat Plays a BIG Role

When we say "Own and Hold 1M SB and earn 1% daily" it's not as easy as it seems. If we're talking Fiat-wise, then by the end of the 100 days - when you've supposedly doubled your number of STARBITS - you might even be left with less money than in the beginning! Let's show you an example:

An Example

Suppose 1SB = $1 and you own 1M SB which is currently worth $1M.

100 days pass and you do the Millionaire's mission every single day:

Now you are left with 2M SB which should be worth $2M IF SB keeps its value and doesn't go down. In the event that the price drops to, like $0.25, then your 2M SB after 100 days is only worth $500K.

Note: The numbers are exaggerated to make the calculations easier, there's no way STARBITS goes up to a dollar each.

The Real Struggle

When I became aware of the Millionaire's mission, I was tempted to secure one million SB ASAP, but I was confronted with the GIANT price tag of 1M SB ~$250. That was a big investment for me.
Then there was the Hive pump which increased the prices even higher - that's when that $250 went up to touch $400. That was impossible for me - not my entire bank account could cover that lol

I was frustrated that I couldn't get my hands on the million SB easily and stressed that even if I could secure it somehow, the price could fall abruptly and result in me losing my money!!

That's when I made the big decision:

"Screw Fiat"

We usually compare the fiat value of our assets to see whether we have profited or taken a loss. And this, I believe, is the problem. I took "the big risk" and decided to go for the Millionaire's mission. My strategy was simple:

The Strategy

I farm XP and level up, while in the meantime trying to get my hands on the million STARBITS needed. I'll get my card and will start doing the millionaire's mission. After the 100 days, there would only be two outcomes:

1. The price of STARBITS will have stayed the same or increased - which would be great news.
2. The price will have tanked by then.

Fortunately, the former happened, but in the case of the second possibility, I had prepared myself, and it was simple:
"IF SB DOES tank and I end up with less value than I had originally invested, I'd still get 10K Starbits daily for as long as I hold onto the million and would be able to get a pack daily and grow my account - and really have fun, just would think of it as an 'expensive fun' rather than 'failed investment' "

And in the end, I waited a bit. These events go back to when Splinterland's Chaos Legion packs were introduced and I suspected that by the release and general sale of the packs, other Splinterlands who also played Rising Star would start selling their SB so that they could more Chaos Packs - resulting in selling pressure on Rising Star's SB, decreasing the price, and that's when I got my million SB for only $150.
SB price spiked right after to $300 and now it is currently keeping a decent peg to $0.0003 per SB now. Although I am more or less making a 2% profit on my initial investment, it's still that 10K SB per day (that I was afraid would lose value). I guess you've started to see the connection here, no?

Now That I think About It

I think we are stressing ourselves too much over the fiat value of things - that's how we see profit/loss. People don't even care about the HIVE value of their assets, either. And I think that could be a problem in the long run. Not suggesting becoming a crypto/blockchain junkie, but to realize the true potential of them instead and act accordingly.

Sorry if it became too long, hope it helped shed some light on how the value system works - or at least how I think it does haha!

Stay strong and invest safely!
And remember to keep rising!!
Cheers~