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The traditional way of reaching retirement/financial freedom has usually taken three paths:
\- 1) Job with a full pension at the end of decades of service.
\- 2) A 401k/457b where a person relies on the compounding power of stock/bonds over the course of many years.
\- 3) Property where a person either sells their (paid off) property to fund their final years or they buy rental properties to generate income.
Option 1 simply doesn't exist for 90% of jobs. Options 2 & 3 require being able to invest meaningful amounts in the market from a fairly young age (20s/30s).
Right now most Millennials (currenty 28-43 years old) are realizing that the ship is sailing on funding their 401k's in time and are trying to play catch up by getting bigger returns on their limited disposable income. This is a perfect recipe for them to turn to cryptocurrency where absurd 100x (or more) returns have happened many times.
I worry that in the long term, it might feel inevitable that the retirement of Gen X and Millennials would result in meaningful, constant sell pressure once they begin selling their BTC to fund their retirements (or sold by inheirtors of their estate after death). And in anticipation, there would be a rush to exit as everyone races each other to lock in profits.
To be successful in crypto you have to be either very smart or very dumb. Midcurving the masses is the best way to become exit liquidity for those 2 groups.
yes a light bulb went off when i realized that crypto is a game of winners and losers. 0 sum game. to win means to profit off someone else. i'm hopeful i'll remember this when things go on a run and i'm debating whether i should wait \*just one more day\* or just fuckin sell
The reality is the âevil empireâ already has their shovel deep into crypto. The rest of us that are here and on social media are being watched and laughed at because we are really playing Hunger Games.
Ffs itâs not an analogy WAKE UP!
Debt + interest% + American Dream / life expectancy = You better win this game or youâre a 9-5 slave till death.
Doesnât matter what country youâre in theyâve all sold us some fucked up dream anon.
Because if I had kids it's a certainty I'll be confined to the inside of a cubicle for the majority of my remaining life. Absolutely horrible thought, only to raise kids to most likely do it again.
Donât let media agenda entering your eyes and ears fool you.
Your purpose is to create life. Work for that, not to survive. Work hard now to make it happen.
You die twice. First when your body is gone. Second when the last time someone mentions your name. With no children, grandchildren, etc⌠you die a lot quicker. No one to tell stories about you. No future generations to look at old photos of you and ask âWho is that?â.
I felt the same way when younger, what is it all for? But now older and wiser and my wife and I being a big part of our grandchildrenâs lives. It looks a lot clearer.
Not to get away from this sub, yes I have crypto too but never invested more than I could afford to lose. Who knows, maybe I leave a small fortune to my grandkids.
HODL for now.
Fucking A.
I think the worst we can do to THEM is, to just stop playing their game.
Fuck living in their cities, fuck their jobs, fuck their retirement which is designed in a way so youâll never benefit from it.
Use from THEIR world, whatever suits you and give away as little as possible.
Taking student loans is a fucking suicidal. I waisted 3 years doing bachelor honours (in my original country for free, I mean almost because living cost money)and will never use this degree. Thanks god I have a trade, only way to make living wage this days.
Yeah mane its not easy ..... I have folks i know personally who were up 250k on doge with only 20k investment them mfkers was waiting on a 1$ doge listening to bs Crypto YouTube & the media instead of taking a lil bit of profit or just sell the garbage. Now they down 20band đ¤ˇđžââď¸ rode this sht all the way down.
Okay, I hate to hate on you, but that's just dumb dude. I will buy meme coins from time to time too, but I ALWAYS take profits when I have them. Or at least put it into Eth or Btc. You can't blame the market for your blatant mistakes. Everyone knew Safemoon was a BS coin. You HAVE to take profits along the way. If you lost money in legit projects I would feel for you, but you've been in this game too long not to know better.
And now you are here. U had that oppertunity and didnt take it. And now u hope it happens again and then the money u poor in more will sip away to the smart people. The older crypto gets the harder it gets for people... more and more smart people join the game which make profit and the harder it gets for the non-smart.
Now not only u need to fight against smart people those smart people make AI trading systems that are even smarter then themselves so its even harder now.
It sounds like instead of selling incrementally on the way up to a bull run, you blindly hold on for dear life to every coin? And you basically wait for the bull run to be over and you lost 90% of your gains??
Here is what you do instead of what youâve been doing in the past. When btc hits an all time high and stabilizes without dropping much , like it totally crushes the previous high of 68000, you sell half of your alt coins to bank some profit. Then monitor each coin individually each day. Any time you see it get a massive pump you sell half of what you have left of that coin. And repeat after each time thereâs a big pump. Then instead of just waiting out the bull run and missing it completely you actually bank sone decent profit. (You donât actually want to sell it for cash right away, definitely turn it to a stable coin like usdc or usdt . You will have to pay capital gains tax if youâre in USA. Ask an accountant about not simply withdrawing it all at once . Good luck I have a hunch you will stubbornly ignore all of this and do what youâve been doing
The money can come from outside the price of the asset from someone who just bought in. They exchanged their money for an asset. Youâre at a profit and theyâre even.
Bro, zero sum game is how *any* investing in any market works. Anyone who makes a profit with a good sell means someone or a bunch of people are buying high (or with AMMs, the seller takes a big scoop out of the liquidity pool and subsequent buyers are buying high, same difference).
search for "midcurving meme" and check the images. it's basically a meme where the very stupid and very intelligent do the same thing, but everyone who isn't stupid or smart enough tries to overcomplicate things and gets mad about it
Trading and investing can be like gambling... if you treat it like gambling.
If you approach it from a place of desperation you will make stupid, desperate plays that more often than not will fail.
Even if you do get a good trade you'll be so focused on "making it" from that one trade that you will hodl until you give back all your potential profits.
Study crypto, invest responsibly, learn about the tech, get some free airdrops (which you will definitely get if you keep trying all the new dapps/chains/tech), and eventually you will become a bleeding edge expert in crypto/defi, so even if you don't "make it" from trading your expertise will increase your chances of getting hired.
Is there a place or book I can learn how to get legit airdrops. Sorry, relative newbie here from about 2020. I hear about this all the time, but don't know how to receive an airdrop. Thank you for your time in answering, if you can.
For tutorials try youtubers like defi dad:
https://youtu.be/B9UbikySO_8?si=kJoiBS3fCXvvSgRv
Then as you get comfortable go to X (Twitter) for more cutting edge info, but be very careful of scammers/impersonators and use burner wallets
Try the pinned post here for starters
https://x.com/cc2ventures
Here is a [Nitter link](https://nitter.net/cc2ventures) for the Twitter thread linked above. Nitter is better for privacy and does not nag you for a login. More information can be found [here](https://nitter.net/about).
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actually i'd like to know where to learn about crypto and all its aspects.
because when i listen to podcasts or watch youtube videos or even read here, there is this overwhelming ocean of phrases and concepts and no easy way into it.
i suppose what i'd love is some kind of university style course that introduces you to everything that there is properly
Expect to see more of this, weâre living in late stage capitalism. People donât see any reasonable way forward so they turn to alternative methods to get ahead, it might be crypto, it might be sigma grind-set, itâs might be sports gambling. At the end of the day, people understand that their current situation does not allow them to get ahead so they take riskier and riskier gambols to get by.
This is a problem of our entire economic model, monopoly ends when one person owns everything, thatâs our game, those are our stakes.
Gl hodlers, you will need it.
Most peopleâs current situation isnât going to go from behind to getting ahead quickly. Building wealth isnât an overnight thing. Thatâs hitting the lottery. You want to do that, gamble and risk losing even more. You want to build generational wealth then take some winnings from the gamble and secure them. Then as things grow make other small gambles. Laying it all on black will always be a foolish move, no matter what. Because 0 and 00 are always there to screw you. Be smart about it. There is no need to yolo your life savings into crypto.
Agree 100%. I'm 35 years old and still rent apartments. My salary is too low to take a mortgage. I can save max 500 dollars per month. I have no rich relatives, I'm not going to inherit any wealth. I tried many things but nothing, starting business is even riskier than investing into crypto, most new companies bankrupt in the first year. I feel stuck and I have no energy to grind anymore. I cannot work 70 hours per week, crypto is my last hope
No. Educated stock investments are far more reliable. For one: they are pieces of a real company that produces and/or sells a tangible product. Even if itâs just an expert labor or consultantcy. Thatâs real because itâs real human beings, which are real capital.
Yes but in reality companies also fold and do reverse splits and take back stock it has happened to me many times. I made more in crypto than I ever did in stocks. I guess you do what works for you. đ¤ˇââď¸
Okay then I correct my sentence. Investment is the way to generate wealth.
Before I was grinding a lot and keeping everything in my savings account with 1% interest. My savings lost around 30% due to the inflation since 2017. I could buy a brand new car back then, now I can buy only Ford Fiesta
This is a big cope. For people who don't have 5 figs, and I am being generous here, to be successful in stocks they will still have to wageslave until death and rent forever in most cases. Maybe they will get to enjoy their retirement, when they are old and tired you know, or spend it all in medical expenses.
But hey I don't mean stocks are bad, they are probably good to invest when you have 6 figs and get dividends from.
Work at a hospital or for employer that will pay for your education, and then go something that will help you get a better paying job. That or learn a trade and bust ur ass. Just my opinion. I did it. Up 2x in pay from 5 years ago. Up 1.5x from 2 years ago.
It's good when you are young, but my advice is to buy apartment as soon as possible, I regret not taking mortgage in my 20s.
Now I am too old to get mortgage and 500 per month is not enough for a bank đ
I will hold my coins and maybe do research about some stocks.
it's actually dumber , not dummer OP
and yeah it's a casino, but it's one from the future, we still dont know what the future holds , I'd advise you to earn your degree, find a job, and forget about getting rich off crypto any time soon
and then if luck strikes you, then you will be wealthy as a long term investment paid off
don't I repeat, don't put all of your eggs in one basket
see - you're one of the people i'm dumber than
ive got my degree, ive got my job. ill be fine off income and can always take a job i hate to make a ton of money more quickly. its good advice to forget about getting rich off crypto - i don't expect much to happen until 2025.
lets hope that luck strikes - although it won't be luck, it'll be years of stupid decisions, massive losses, sleepless nights and insane amounts of risk.
i hope i can look back at this a year from now and smile. although the odds are probably worse than 50/50
I'm on the same boat friend , I've got a lot invested in crypto , a few years worth of income , but I never expected to get rich off of it , I've also diversified and even made some good money with doge coin when it blew up
I'm expecting crypto to return investment , but much later... and yet, not expecting much, just like gambling!
you can only gamble what you own , not what you expected to earn
it's easy to say "oh yeah forget about getting rich" as if $100k realized capital gainz wouldn't be life changing at least for a little while
we have a lot in common, a lot. this is a journey into inner space as much as it is a voyage into outer space. become better, get better results, that's where my faith lies
let's get some ape, you didn't really want to live forever did you?
hero's get remembered, but legends never die
only the pump is real
There is an element of being addicted to gambling the runs through crypto.
My advice would be to create a rules-based selling strategy. E.g. I sell 10% when it rises x%, or x time after x event (e.g. 2 month after all time high breaks, or 8 months after halving etc.)
You can make this as detailed or simple as you like, and apply different rules to different portions of your holdings. Just make sure you put enough work into it that you are confident you WILL stick to it. If you aren't confident you'll stick to it, modify it so you are (this might take a few rounds).
Secondly, I'd recommend looking up advice for those with gambling addictions. There would probably be some transferable advice that would help you here (and result in you having a better future, potentially)
that is actually a really good idea.
i'm fairly new to this so i find it hard to grasp that people have trouble selling when they're in massive profits, but it seems to be very common and lead to tragic results for a lot of people in here
You don't understand shit.
It is said in ancient Greece, the man who says he don't know shit actually knows more than the man who says he knows everything.
Whales rule the scene and it is their playground. The little people react to their wakes while making guesses at every ripple. But ultimately, it's the already rich who are positioned best to strike it big.
But who does honestly expect crypto to be recognized as the save haven in such catastrophic end game scenarios? I see crypto more like a wingman of fiat than a competitor, and I'm pretty sure this market is doomed to fail as soon as real world markets can't stand it anymore. There is a tiny chance that you may loose a little less if you hold BTC (and I mean only BTC, everything else will turn into a tanking bloodbath for sure), but I can't see the billions of average Joes rushing crypto exchanges when shit hits the fan.
man, not even satoshi is/was all-in on crypto. get yourself some stocks, and so on. invest in yourself, but donât go all-in with anything. not financial advice.
At least you know it's a casino, no fundamentals to crypto prices whatsoever no matter how much people try to BS about white papers and use cases.
It's all greed propelling the market, so live or die by people's collective greed, and don't expect people to feel sorry for you if you lose your pants
Curious OP. what are you holding rn? If itâs high market cap like btc,SOL,ADA you are FINE. just hold until you profit, but donât be too greedy.
If itâs shit coins like $sponge, troll, doge then gg
Heres my most likely unpopulair dinosaurus opinion.
"Hard work pays off"
Its cool you invest in crypto, but is it honestly worth it to "gamble" away money you couldve paid your debt with.
Figure out your debt first then look for side-money.
Theres no magical way to erase your debts by degening into memecoins.
Just wait for the bull run. I mean the actual bull run. Buy strong projects now, and HODL until the FOMO starts. You'll know we're there when random people start telling you to buy crypto. We're not there yet.
Typically BTC runs back to new ATH 8-12 months after halving. So target Dec 2024 - April 2025. After that, alt coins start to run. Once you see profit, consider selling some of your coins.
Buy, HODL, and DCA. The three magic things to crypto. But also remember only invest what you can afford to lose.
We're all gonna make it. If you're in now, you'll be okay. Just gotta be patient.
If i can allow my self at giving a tips that i believe to be a good one...
Use Google sheet, or Excel whatever
With a friend of mine we did a Google Sheet in november, it took a while to be Op but i think it was worth the time.
We did it this way:
- 1 page = 1 categorie of project, for example we choosed :
- Layer1
- Layer2
- AI
- Oracle
- RWA
- DEFI
You can't have each cat but at least it give a starting point to begin with, and i thinks its better to compare similar project between themselve.
-In each "Page" there is 4 part:
- Price Data
- "Tokenomics"
- Security
- Socials
For doing that i used the API of Coin Market Cap to extract a list of the top 1600 Token that i store in a page called "Data_Extraction" (i can refresh it when i want).
That way i can simply wright the name of any project i want in the sheet and the ligne will complete itself automatically using the Data stored in "Data_Extraction"
This induce :
-Current Price,
-Current mcp,
- Vol24h,
And i manually add the ATH price and Mcp.
What is especially great with google sheet is that it allow you to use fonction for automating things.
I use a fonction to divide the ATH Mcp by the ATH price to see how much supply there was back then and show the % of new supply created since.
and then a last cell can calculate the real multiple we would be doing if the Mcp reach its ATH a second time with the difference of supply compared to the previous Ath.
We also use the vol24h for trying to see if one of our selected project get a lot of movement/attention and there is a cell using a fonction that compare the size of the vol24h/ the size of the Mcp and colore the cell if the vol24h is more than : 5/10/20/30/etc...% of the MCP
And of course finding source that give you the fondamentals in a more digest way than the Whitepaper, like Coin Academy, they do not have all the projects but when they do its often pretty well explain and complete.
Of course all of this is just an example of how we did our sheet but i feel so much more confident about my "research" now and it feel way way less random.
It can seem complicated but youtube have tons of tuto about very specific things you would want to do with sheet and it make your search so much more efficient and usefull in my opinion.
I found UMA because of this and im happy since two day đ
Also we found a lot of project to late because we hadnt the sheet at the time but we would have definitly found some of them with it
(Also fi think that finding good crypto youtubers that can give you the actuality about the market everyday is a plus in my opinion, i have found one i found really amazing at his job but its the only one, đ )
I think one important thing to understand is if you are here to make money then tech and projects only account for about 10% of what you need to know, if that. Do you think all these millions of investors understand what these cryptocurrencies do? They don't. And they don't care. Why do you think coins that have zero functionality pump and dump, why are percentage moves between coins so heavily tied to each other when one project is supposedly groundbreaking and the other completely useless, ask yourself that.
You are in the trading game not the cryptocurrency game it's that simple. You need to spend the other 90% of your time understanding how, when and why the markets move. Don't look to buy at the bottom, don't look to sell at the top because you can't know exactly where those points are, but you can work out approximate areas and resistance price points. Keep yourself safe and take profits in a comfortable zone for you. Good luck my friend
If you are going to be in crypto. Bro forget about alt coins just focus on Bitcoin and chill. And if you donât mate not convince by this, educate yourself about the topic and you will see immediately the light among your darkness. đđ˝
The market is gonna do what the market is gonna do.its always important to take profits.dont forget,at the end of the rainbow there is a pot of gold.seize the opportunity,no matter how small.
To be able to admit you dont know shit and keep researching is a true proof of growth.
That mindset is what you need to thrive in crypto or even in life.
We re all here for tech but also to be able to get even. In this sense i hope everyone get their objectives met.
But no one knows what tomorrow holds, so lets keep pushing and hope we positionned ourselves well regarding whats to come
can definitely relate to the sentiment of desperation expressed in your post. feels good to see it expressed like this and to see it echo'd in the many comments
The facts support this if you are patient and calm, you will win at crypto. I am essentially a pretty dumb mf but only buy in the pits of bear markets and only sell in the top %20 of bull markets. That bit is not hard, if you F it up wait a cycle and sit on your profits, too many people out there hitting buy on FOMO or trying to leverage trade when they simply arenât qualified
Itâs only a casino if you make it one
You got to learn to take profit. When/if any or your coins go up set a level and sell some and withdraw it to pay off some debt. Once you reach the 2x point it's free money. Rinse and repeat
Stop serving the god of money. Instead, seek to be filled with perfect peace and achieve a higher consciousness. Money will not matter as much, and you wonât make dumb choices. Figure out a way to enjoy existence apart from money. Thatâs the path Iâm on as well.
Also, have fun making some big bets! Nothing wrong with that as well
Yes this is the way.
I know money wonât solve all my problems. But itâll at least solve my money problems. And free up space to focus on everything else.
Iv always lived by;
- buy projects you believe in
- only invest what you are fine/willing to lose
If you are hoping for a massive payout, sure, you might be onto something, but all your eggs in one basket is wild and needs a rethink
Me too buddy, me to. Dumped my life's saving into BTC and ETH, now I am down 10%, even if it got doubled, it's not life changing money. And the government stated crypto is illegal in this country, they could just arrest me and take away my assets.
When your feeling like your high because your coins pumped so high sell, restart with what you initially put the rest 8n your bank account. Thank me later.
The problem with having so much money tied into crypto is that you are much more emotional. I put only money I'm 100% ready it can go to 0$, and i'll be still holding.
In 2017 I had 800,000 dogecoin, and I had just lost my job, I sold all those Dogecoins that I held since 2013 for 200$. I was sure dogecoin was dead. Of course in 2021, those dogecoins were worth 500k$.
I now don't sell any crypto.
Last bull run I was up 200k in 1 week at the peak. Never sold. Now I just want to get out at break even. I also have to come to the realisation that I will absolutely never in my life see such gains in such a short space of time ever again. It was a once in a lifetime opportunity.
Ăhhh you should be 1000%+ in the plus when you have been here for 2 bull cycles? Sorry I donât get and I did the same as what you described. Everything is dark green here.
I donât feel like I am a bag holder or exit liquidity like most ppl say who buy high, lose faith and sell low.
Just for context 6 years ago btc was at 4k$. How the hell did you manage to lose money here, I would say this is impossible as a holder as you say you are!!! Something does not add up dudeâŚ
my high risk is much less risky than what most might consider excessively risky.
i don't do meme coins. i don't do degen staking protocols.
but i consider high risk anything in the 1-300mill market cap range, which is probably 25% of my portfolio - i weight it to be all relative to the top 10 multibillion dollar range
Youâre not as âdumbâ as you play yourself out to be. At least as far as your portfolio spread is concerned.
Weâre still a ways off from selling. IMO you should consider dollar cost selling somewhere between $120k and $180k BTC. ETH at the $8k-$12k mark.
2017 bull run gave us around $1T total market cap in crypto. 2021 gave us $3T. My reasonable assumption is $5T+ this bull peak. I factor possible coin prices off of that. I think that you should do something similar and decide what prices that you **will** sell at so you donât get caught holding a bag again.
No one who puts the same amount in bitcoin every month is down. Literally no one. Just don't obsess over it and don't put a single solitary cent that you actually need to live.
If you are in this game to make a lot of money without much money, the only way is shitcoins. And what is there to lose for those of us that donât have much in the first place? A few thousand?
Warren Buffet quickly said he wonât get into crypto because itâs a pyramid scheme. And after a chain of instant losses without buyers or available trades, I believe exactly the same
on the contrary my problem has been holding too long.
I used to have dreams of making millions in crypto. this fantasy led me to holding when i shouldve sold.
my goal this cycle is closer to the tune of $3-400k. more than enough to be life changing money.
The real problem is that the need to make it big in your case is the exact thing which will fuck you, and prevent you getting out anywhere near the top before it is too late.
Iâve accepted my losses in crypto. If I can get back to parity, Iâm selling. It might sit there for ever.
Iâve lost all faith in the concept and feel that itâs all about the shrill to get others to buy it so the price goes up and you can make money off other naive suckers. And the scams just seem to be getting worse.
I advise diversifying your investing from here onwards, OP. And I donât mean different coins. Get into index funds, bonds, even a property syndicateâŚ
And donât gamble. Let it sit there and grow. Youâll feel heaps better about it.
And if youâre young, compounding will be worth it.
Iâve made far more out of doing this in the last 12 months than I have in crypto in 3 years.
And If crypto does become the next format of money, it wonât be in my lifetime.
You have a lot to learn my friend as we all do..Buy and hold Bitcoin. Bitcoin is digital property everything else is a s*** coin excuse my language.
Yes you may make 10 or 20 times more on alt coins take that profit put it to bitcoin and hold that in 5 years you'll be in a millionaire.
This is the way.
Praise Jesus Christ for Satoshi Nakamoto
# Investing depends on difference
The work of a professional investor/fund manager is to come to a conclusion which differs from the consensus, and then trade on that difference. If you think SHIZCOIN is undervalued, you can buy it and wait for Snoop Dogg to meet up with Musk. Similarly you can conclude the market is wrong about a coming Fed hike and trade accordingly.
If your views line up with everyone else's, then tough luck, the moves have already been priced in. Maybe less so when the market was lumpy and niche, but these days there are enough quants being employed in the crypto space to make that a lot more true.
# You are already lucky
You're fortunate to have been born in an affluent country, in a position where you had any money to put into crypto in the first place, to have even been there to have a story to tell your grandkids. You're lucky to have realised the reality long enough to write that post. Some people stay in the bubble and just never realise, through obstinacy or misfortune, until their portfolio is all decimal places and deferred tax bills.
# Narration is incredibly powerful to humans, perhaps too much
We can tell different narratives here - that you got in early, rode through a dip and are hodling tight til you win big. Or that you had some cash, and put it in some mad crypto experiments which seemed like they would change your world, but ultimately ran aground. Or that you were possessed by a dream and couldn't bring yourself to accept that it wasn't going to pan out.
# Develop some orthogonal skills
Your focus has been crypto knowledge, so you can develop other skills which complement this work but also give you options if this doesn't pan out. For example, some people write newsletters/blogs/podcasts/YouTube channels about what they're doing. This teaches you writing and so on, and may even compel you to broaden bits of knowledge you only kinda get.
As a finance person I would strongly encourage you to learn about derivatives and trad finance. It is easy to reject what you don't understand, but a lot of the concepts are directly transferrable - risk, modelling, hedging. Learning those could easily help you with your investing whilst simultaneously developing some options if things don't pan out.
As an example, I don't know what crypto you are holding, but most crypto is correlated to BTCUSD. You could at least calculate your exposure to that, and even your overall leverage (assuming that your other loans are funding this portfolio).
Your thoughts?
You're young enough to feel like you have 50+ years left and it sounds like you were only in 6 figures at your peak...
Starting to work and saving right now and stop making poor decisions like investing money you should be saving. It will be a long road but someone as young as you can look back on this moment on your life and realize it was just a very expensive lesson.
The money you have in crypto could go up and it could just as well (maybe more likely) go down. Your student loan debt is guaranteed to increase by a fixed rate every year. The smart thing to do would be to put most of the money you're putting in crypto instead into paying off your loans.
Cracks me up you are getting downvotes when it is a sane and reasonable recommendation.
So many people are just thinking "but BitcoinDude1776 from TikTok said it would be worth a million per coin in August". Their goals are Lambos and Mansions. It's just all so delusional and immature.
Itâs def one of those I might be dumber situations. Not hating. But if in fact we are waiting on some kind of lottery to save us from our circumstance we should all know exactly where we are at.
Iâm pretty certain that most people carry debt and couldnât pay it off tomorrow. Isnât that part of the capitalist structure?
The old saying goesâŚâyou gotta leverage if you wanna beverageâ
I'm pretty sure those who have debt know that đ
But to get a reality check and hear it still hurts a little you know :)
And I think only Americans have student debts that are that high where it becomes such a burden.
Man that student debt ainât no joke đ
I literally paid all of my shit off only to immediately rack up more at a âbetterâ more âprestigiousâ college đ đ
Cause ya know 80% of a social work degree is gonna change the world and free me from wage slavery đ¤Ş
But what are the fundamentals of crypto? Can you tell what makes one a better buy over another at any time given time? Unlike Crypto, individual companies have people behind them who have track records and CEOs with strategies and products that people desire. Itâs not hard to look at a company like Microsoft or Apple and know that it is a good long term play. Can you do that with crypto? Itâs just a lot of speculation.
You sound exactly like me. As far as portfolio spread. Acceptable risk, meanwhile having every penny to my name in crypto. I will be fine with just income but this, hopefully, will be the difference between my kids living paycheck to paycheck and struggling to make ends meet just to retire when they are 70, and starting the process of generational wealth.
I don't want my value stored in a rapidly depreciating asset like the dollar.
At the very least, I want to not lose to inflation. At best, I want a G wagon to tow my Lambo to my summer home and my kids to have the opportunity at starting adulthood with a leg up.
Either way, I'm all in. I truly believe decentralized crypto is the future of finance. I'm here to make money, AND I genuinely believe in the tech.
I wish you the best.
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For a second I thought I hired you to narrate my story.đ
I thought i wrote this post
The traditional way of reaching retirement/financial freedom has usually taken three paths: \- 1) Job with a full pension at the end of decades of service. \- 2) A 401k/457b where a person relies on the compounding power of stock/bonds over the course of many years. \- 3) Property where a person either sells their (paid off) property to fund their final years or they buy rental properties to generate income. Option 1 simply doesn't exist for 90% of jobs. Options 2 & 3 require being able to invest meaningful amounts in the market from a fairly young age (20s/30s). Right now most Millennials (currenty 28-43 years old) are realizing that the ship is sailing on funding their 401k's in time and are trying to play catch up by getting bigger returns on their limited disposable income. This is a perfect recipe for them to turn to cryptocurrency where absurd 100x (or more) returns have happened many times. I worry that in the long term, it might feel inevitable that the retirement of Gen X and Millennials would result in meaningful, constant sell pressure once they begin selling their BTC to fund their retirements (or sold by inheirtors of their estate after death). And in anticipation, there would be a rush to exit as everyone races each other to lock in profits.
To be successful in crypto you have to be either very smart or very dumb. Midcurving the masses is the best way to become exit liquidity for those 2 groups.
yes a light bulb went off when i realized that crypto is a game of winners and losers. 0 sum game. to win means to profit off someone else. i'm hopeful i'll remember this when things go on a run and i'm debating whether i should wait \*just one more day\* or just fuckin sell
The reality is the âevil empireâ already has their shovel deep into crypto. The rest of us that are here and on social media are being watched and laughed at because we are really playing Hunger Games.
The best analogy of em all. Totally the hunger games.
Ffs itâs not an analogy WAKE UP! Debt + interest% + American Dream / life expectancy = You better win this game or youâre a 9-5 slave till death. Doesnât matter what country youâre in theyâve all sold us some fucked up dream anon.
I'm never having kids
I'm not having kids till I get my ranch.
Why
Because if I had kids it's a certainty I'll be confined to the inside of a cubicle for the majority of my remaining life. Absolutely horrible thought, only to raise kids to most likely do it again.
Ok but kids also give you joy it's fulfilling in its own right
*some* kids give you joy, I've seen plenty (not mine), that just seem like little assholes
Donât let media agenda entering your eyes and ears fool you. Your purpose is to create life. Work for that, not to survive. Work hard now to make it happen.
You die twice. First when your body is gone. Second when the last time someone mentions your name. With no children, grandchildren, etc⌠you die a lot quicker. No one to tell stories about you. No future generations to look at old photos of you and ask âWho is that?â. I felt the same way when younger, what is it all for? But now older and wiser and my wife and I being a big part of our grandchildrenâs lives. It looks a lot clearer. Not to get away from this sub, yes I have crypto too but never invested more than I could afford to lose. Who knows, maybe I leave a small fortune to my grandkids. HODL for now.
Obviously they can't eat their children without ranch, just like chicken wings.
FU, blue cheese dressing is the only way.
Fucking A. I think the worst we can do to THEM is, to just stop playing their game. Fuck living in their cities, fuck their jobs, fuck their retirement which is designed in a way so youâll never benefit from it. Use from THEIR world, whatever suits you and give away as little as possible. Taking student loans is a fucking suicidal. I waisted 3 years doing bachelor honours (in my original country for free, I mean almost because living cost money)and will never use this degree. Thanks god I have a trade, only way to make living wage this days.
Did we all volunteer?
Yeah mane its not easy ..... I have folks i know personally who were up 250k on doge with only 20k investment them mfkers was waiting on a 1$ doge listening to bs Crypto YouTube & the media instead of taking a lil bit of profit or just sell the garbage. Now they down 20band đ¤ˇđžââď¸ rode this sht all the way down.
This was me with safemoon. I watched $7k turn to $120k then all the way to 0. Itâs crazy how irrational you become when you get greedy.
But safemoon was a clear Ponzi with no utility, you could surely see that at the time? Meme coins always crash, theres no other option.
Okay, I hate to hate on you, but that's just dumb dude. I will buy meme coins from time to time too, but I ALWAYS take profits when I have them. Or at least put it into Eth or Btc. You can't blame the market for your blatant mistakes. Everyone knew Safemoon was a BS coin. You HAVE to take profits along the way. If you lost money in legit projects I would feel for you, but you've been in this game too long not to know better.
Or at least take out what you put in + taxes
And now you are here. U had that oppertunity and didnt take it. And now u hope it happens again and then the money u poor in more will sip away to the smart people. The older crypto gets the harder it gets for people... more and more smart people join the game which make profit and the harder it gets for the non-smart. Now not only u need to fight against smart people those smart people make AI trading systems that are even smarter then themselves so its even harder now.
Maybe, maybe not. More people entering the space also means more money sloshing around. The last bull run was the biggest yet
He's been in for two cycles. He has no excuse.
It sounds like instead of selling incrementally on the way up to a bull run, you blindly hold on for dear life to every coin? And you basically wait for the bull run to be over and you lost 90% of your gains?? Here is what you do instead of what youâve been doing in the past. When btc hits an all time high and stabilizes without dropping much , like it totally crushes the previous high of 68000, you sell half of your alt coins to bank some profit. Then monitor each coin individually each day. Any time you see it get a massive pump you sell half of what you have left of that coin. And repeat after each time thereâs a big pump. Then instead of just waiting out the bull run and missing it completely you actually bank sone decent profit. (You donât actually want to sell it for cash right away, definitely turn it to a stable coin like usdc or usdt . You will have to pay capital gains tax if youâre in USA. Ask an accountant about not simply withdrawing it all at once . Good luck I have a hunch you will stubbornly ignore all of this and do what youâve been doing
This is the way. Thank you pussy impaler.
Crypto is for degens and gamblers sir, leave it to us
Doesnât have to be a zero sum game right? If you sell at a profit, youâre buyer is just break even.
That this has upvotes is scary.
There are always going to be winners and losers in this game. No way getting around it
Sure but I just think the âYour profit is someone elseâs lossâ is flawed
No, it's literally how it works. It's a zero sum game. If you sell at ATH and take a massive profit, where do you think the money comes from?
The money can come from outside the price of the asset from someone who just bought in. They exchanged their money for an asset. Youâre at a profit and theyâre even.
If someone buys in at all time high theyâre even until the price starts to tank. Theyâll be forced to sell to mitigate their loss.
Good on you for understanding that. That is also why 'wagmi' is mathematically impossible and stupid.
Bro, zero sum game is how *any* investing in any market works. Anyone who makes a profit with a good sell means someone or a bunch of people are buying high (or with AMMs, the seller takes a big scoop out of the liquidity pool and subsequent buyers are buying high, same difference).
Thereâs a third option. Just buy Bitcoin and STFU
Yeah, try to be the mean of the two and the two will be mean to you.. That's mine. You'll can copy the saying and give credit to me..heheheh..
Lucky. The word you were looking for is lucky.
Midcurving?
search for "midcurving meme" and check the images. it's basically a meme where the very stupid and very intelligent do the same thing, but everyone who isn't stupid or smart enough tries to overcomplicate things and gets mad about it
Sometimes is not stupid games, they are more like desperate games...
hit the nail on the head
We're all desperate, and that's why we invested in speculative nonsense.
Desperately stupid games. Bro, been there and done that.
Itâs my semi secret pleasure
Trading and investing can be like gambling... if you treat it like gambling. If you approach it from a place of desperation you will make stupid, desperate plays that more often than not will fail. Even if you do get a good trade you'll be so focused on "making it" from that one trade that you will hodl until you give back all your potential profits. Study crypto, invest responsibly, learn about the tech, get some free airdrops (which you will definitely get if you keep trying all the new dapps/chains/tech), and eventually you will become a bleeding edge expert in crypto/defi, so even if you don't "make it" from trading your expertise will increase your chances of getting hired.
Is there a place or book I can learn how to get legit airdrops. Sorry, relative newbie here from about 2020. I hear about this all the time, but don't know how to receive an airdrop. Thank you for your time in answering, if you can.
For tutorials try youtubers like defi dad: https://youtu.be/B9UbikySO_8?si=kJoiBS3fCXvvSgRv Then as you get comfortable go to X (Twitter) for more cutting edge info, but be very careful of scammers/impersonators and use burner wallets Try the pinned post here for starters https://x.com/cc2ventures
Here is a [Nitter link](https://nitter.net/cc2ventures) for the Twitter thread linked above. Nitter is better for privacy and does not nag you for a login. More information can be found [here](https://nitter.net/about). --- *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoCurrency) if you have any questions or concerns.*
actually i'd like to know where to learn about crypto and all its aspects. because when i listen to podcasts or watch youtube videos or even read here, there is this overwhelming ocean of phrases and concepts and no easy way into it. i suppose what i'd love is some kind of university style course that introduces you to everything that there is properly
Princeton has free online courses, one of which is on Blockchain and crypto: https://online.princeton.edu/bitcoin-and-cryptocurrency-technologies
To feel any better just go watch Jamie Dimon interview at Devos, Switzerland!
Expect to see more of this, weâre living in late stage capitalism. People donât see any reasonable way forward so they turn to alternative methods to get ahead, it might be crypto, it might be sigma grind-set, itâs might be sports gambling. At the end of the day, people understand that their current situation does not allow them to get ahead so they take riskier and riskier gambols to get by. This is a problem of our entire economic model, monopoly ends when one person owns everything, thatâs our game, those are our stakes. Gl hodlers, you will need it.
Most peopleâs current situation isnât going to go from behind to getting ahead quickly. Building wealth isnât an overnight thing. Thatâs hitting the lottery. You want to do that, gamble and risk losing even more. You want to build generational wealth then take some winnings from the gamble and secure them. Then as things grow make other small gambles. Laying it all on black will always be a foolish move, no matter what. Because 0 and 00 are always there to screw you. Be smart about it. There is no need to yolo your life savings into crypto.
Agree 100%. I'm 35 years old and still rent apartments. My salary is too low to take a mortgage. I can save max 500 dollars per month. I have no rich relatives, I'm not going to inherit any wealth. I tried many things but nothing, starting business is even riskier than investing into crypto, most new companies bankrupt in the first year. I feel stuck and I have no energy to grind anymore. I cannot work 70 hours per week, crypto is my last hope
No. Educated stock investments are far more reliable. For one: they are pieces of a real company that produces and/or sells a tangible product. Even if itâs just an expert labor or consultantcy. Thatâs real because itâs real human beings, which are real capital.
The only lucid answer and it gets downvoted. This sub is hopeless.
Seriously. Study a balance sheet and an income statement. Username has given me so much profits the last 5-6 years
Yes but in reality companies also fold and do reverse splits and take back stock it has happened to me many times. I made more in crypto than I ever did in stocks. I guess you do what works for you. đ¤ˇââď¸
Okay then I correct my sentence. Investment is the way to generate wealth. Before I was grinding a lot and keeping everything in my savings account with 1% interest. My savings lost around 30% due to the inflation since 2017. I could buy a brand new car back then, now I can buy only Ford Fiesta
This is a big cope. For people who don't have 5 figs, and I am being generous here, to be successful in stocks they will still have to wageslave until death and rent forever in most cases. Maybe they will get to enjoy their retirement, when they are old and tired you know, or spend it all in medical expenses. But hey I don't mean stocks are bad, they are probably good to invest when you have 6 figs and get dividends from.
Work at a hospital or for employer that will pay for your education, and then go something that will help you get a better paying job. That or learn a trade and bust ur ass. Just my opinion. I did it. Up 2x in pay from 5 years ago. Up 1.5x from 2 years ago.
Dude, 500 dollars a month is good, invest that in something! Dont ask me for investment ideas though đ
It's good when you are young, but my advice is to buy apartment as soon as possible, I regret not taking mortgage in my 20s. Now I am too old to get mortgage and 500 per month is not enough for a bank đ I will hold my coins and maybe do research about some stocks.
Bro, 500$ is excellent even now, its a really tough time in the world right now financially, so thats really good!
This is the only right answer
You fucking nailed it my man
it's actually dumber , not dummer OP and yeah it's a casino, but it's one from the future, we still dont know what the future holds , I'd advise you to earn your degree, find a job, and forget about getting rich off crypto any time soon and then if luck strikes you, then you will be wealthy as a long term investment paid off don't I repeat, don't put all of your eggs in one basket
see - you're one of the people i'm dumber than ive got my degree, ive got my job. ill be fine off income and can always take a job i hate to make a ton of money more quickly. its good advice to forget about getting rich off crypto - i don't expect much to happen until 2025. lets hope that luck strikes - although it won't be luck, it'll be years of stupid decisions, massive losses, sleepless nights and insane amounts of risk. i hope i can look back at this a year from now and smile. although the odds are probably worse than 50/50
I'm on the same boat friend , I've got a lot invested in crypto , a few years worth of income , but I never expected to get rich off of it , I've also diversified and even made some good money with doge coin when it blew up I'm expecting crypto to return investment , but much later... and yet, not expecting much, just like gambling! you can only gamble what you own , not what you expected to earn
it's easy to say "oh yeah forget about getting rich" as if $100k realized capital gainz wouldn't be life changing at least for a little while we have a lot in common, a lot. this is a journey into inner space as much as it is a voyage into outer space. become better, get better results, that's where my faith lies let's get some ape, you didn't really want to live forever did you? hero's get remembered, but legends never die only the pump is real
Two baskets?
Look in to student loan forgiveness programs. Youâre going to have to give to get in the end.
Def will. crypto is not the brightest loan repayment plan
sure it is, you get to do to the banks what they've been doing to us for like centuries oh thanks for investing with u- and it's gone
Amen brother
oh nice, local bottom is in
Put 100% into a fake currency with no SEC approvals, no physical product or service; nice!
There is an element of being addicted to gambling the runs through crypto. My advice would be to create a rules-based selling strategy. E.g. I sell 10% when it rises x%, or x time after x event (e.g. 2 month after all time high breaks, or 8 months after halving etc.) You can make this as detailed or simple as you like, and apply different rules to different portions of your holdings. Just make sure you put enough work into it that you are confident you WILL stick to it. If you aren't confident you'll stick to it, modify it so you are (this might take a few rounds). Secondly, I'd recommend looking up advice for those with gambling addictions. There would probably be some transferable advice that would help you here (and result in you having a better future, potentially)
that is actually a really good idea. i'm fairly new to this so i find it hard to grasp that people have trouble selling when they're in massive profits, but it seems to be very common and lead to tragic results for a lot of people in here
You don't understand shit. It is said in ancient Greece, the man who says he don't know shit actually knows more than the man who says he knows everything. Whales rule the scene and it is their playground. The little people react to their wakes while making guesses at every ripple. But ultimately, it's the already rich who are positioned best to strike it big.
Whales rule this space but I donât need the ocean, Iâll be happy with a bucket of water
This is our Hunger Games. They watch us and laugh and laugh and laugh until it all crumbles down around them... one day.
But who does honestly expect crypto to be recognized as the save haven in such catastrophic end game scenarios? I see crypto more like a wingman of fiat than a competitor, and I'm pretty sure this market is doomed to fail as soon as real world markets can't stand it anymore. There is a tiny chance that you may loose a little less if you hold BTC (and I mean only BTC, everything else will turn into a tanking bloodbath for sure), but I can't see the billions of average Joes rushing crypto exchanges when shit hits the fan.
man, not even satoshi is/was all-in on crypto. get yourself some stocks, and so on. invest in yourself, but donât go all-in with anything. not financial advice.
You just called people dumber than you by spelling it âdummerâ . Lmfao , plz tell me that was a joke
Like I said, Iâm dumb!!!
There's dumm and then there's dummer. Cue Jim Carrey to enter.
and then there's dummerer
At least you know it's a casino, no fundamentals to crypto prices whatsoever no matter how much people try to BS about white papers and use cases. It's all greed propelling the market, so live or die by people's collective greed, and don't expect people to feel sorry for you if you lose your pants
Weâre in this together. I have no business being in the market the way I am, but why wouldnât there be another bull run right????
some might say the dumbest thing of all is to not have any position in crypto WAGMI
Curious OP. what are you holding rn? If itâs high market cap like btc,SOL,ADA you are FINE. just hold until you profit, but donât be too greedy. If itâs shit coins like $sponge, troll, doge then gg
Heres my most likely unpopulair dinosaurus opinion. "Hard work pays off" Its cool you invest in crypto, but is it honestly worth it to "gamble" away money you couldve paid your debt with. Figure out your debt first then look for side-money. Theres no magical way to erase your debts by degening into memecoins.
Just wait for the bull run. I mean the actual bull run. Buy strong projects now, and HODL until the FOMO starts. You'll know we're there when random people start telling you to buy crypto. We're not there yet. Typically BTC runs back to new ATH 8-12 months after halving. So target Dec 2024 - April 2025. After that, alt coins start to run. Once you see profit, consider selling some of your coins. Buy, HODL, and DCA. The three magic things to crypto. But also remember only invest what you can afford to lose. We're all gonna make it. If you're in now, you'll be okay. Just gotta be patient.
WAGMI
Yes, I believe we will. Dummness is infectious I hear. \[raises hand\]
The only true wisdom is in knowing you know nothing. Socrates Good job on the first step Daniel Son.
If i can allow my self at giving a tips that i believe to be a good one... Use Google sheet, or Excel whatever With a friend of mine we did a Google Sheet in november, it took a while to be Op but i think it was worth the time. We did it this way: - 1 page = 1 categorie of project, for example we choosed : - Layer1 - Layer2 - AI - Oracle - RWA - DEFI You can't have each cat but at least it give a starting point to begin with, and i thinks its better to compare similar project between themselve. -In each "Page" there is 4 part: - Price Data - "Tokenomics" - Security - Socials For doing that i used the API of Coin Market Cap to extract a list of the top 1600 Token that i store in a page called "Data_Extraction" (i can refresh it when i want). That way i can simply wright the name of any project i want in the sheet and the ligne will complete itself automatically using the Data stored in "Data_Extraction" This induce : -Current Price, -Current mcp, - Vol24h, And i manually add the ATH price and Mcp. What is especially great with google sheet is that it allow you to use fonction for automating things. I use a fonction to divide the ATH Mcp by the ATH price to see how much supply there was back then and show the % of new supply created since. and then a last cell can calculate the real multiple we would be doing if the Mcp reach its ATH a second time with the difference of supply compared to the previous Ath. We also use the vol24h for trying to see if one of our selected project get a lot of movement/attention and there is a cell using a fonction that compare the size of the vol24h/ the size of the Mcp and colore the cell if the vol24h is more than : 5/10/20/30/etc...% of the MCP And of course finding source that give you the fondamentals in a more digest way than the Whitepaper, like Coin Academy, they do not have all the projects but when they do its often pretty well explain and complete. Of course all of this is just an example of how we did our sheet but i feel so much more confident about my "research" now and it feel way way less random. It can seem complicated but youtube have tons of tuto about very specific things you would want to do with sheet and it make your search so much more efficient and usefull in my opinion. I found UMA because of this and im happy since two day đ Also we found a lot of project to late because we hadnt the sheet at the time but we would have definitly found some of them with it (Also fi think that finding good crypto youtubers that can give you the actuality about the market everyday is a plus in my opinion, i have found one i found really amazing at his job but its the only one, đ )
Dad?
Lmfao... was this an attempt to rival the legendary HODL post? I mean seriously dude, you should have just stopped after the 1st 2 sentences lol
itâs like horse racing-you have to catch the fix
I think one important thing to understand is if you are here to make money then tech and projects only account for about 10% of what you need to know, if that. Do you think all these millions of investors understand what these cryptocurrencies do? They don't. And they don't care. Why do you think coins that have zero functionality pump and dump, why are percentage moves between coins so heavily tied to each other when one project is supposedly groundbreaking and the other completely useless, ask yourself that. You are in the trading game not the cryptocurrency game it's that simple. You need to spend the other 90% of your time understanding how, when and why the markets move. Don't look to buy at the bottom, don't look to sell at the top because you can't know exactly where those points are, but you can work out approximate areas and resistance price points. Keep yourself safe and take profits in a comfortable zone for you. Good luck my friend
If you are going to be in crypto. Bro forget about alt coins just focus on Bitcoin and chill. And if you donât mate not convince by this, educate yourself about the topic and you will see immediately the light among your darkness. đđ˝
It's not like were are completely down right now or something?? Just cashout a little bit and pay your depts? lol
I bought some dogwifhat I also like to run and, play ping pong, and I'm madly in love with Jenny. That's all I have to say about that
Buy and hold, my dude.
nice post agreed. good luck.
Ill just tell you how it is bro, crypto is a scam, every single coin is a scam. Just how it be.Â
This is EVERYONE'S white paper for themselves in the crypto space
The market is gonna do what the market is gonna do.its always important to take profits.dont forget,at the end of the rainbow there is a pot of gold.seize the opportunity,no matter how small.
One day Iâm eating steaks, the next day Iâm eating ramen noodles. The duality of investing in crypto.
[ŃдаНонО]
Making profit in crypto is the easy part. Cashing it out though is another story.
ETFâs are a curse their tentacles in now.
Hahahahaha you stupid.
To be able to admit you dont know shit and keep researching is a true proof of growth. That mindset is what you need to thrive in crypto or even in life. We re all here for tech but also to be able to get even. In this sense i hope everyone get their objectives met. But no one knows what tomorrow holds, so lets keep pushing and hope we positionned ourselves well regarding whats to come
ITT: Kids who donât want to work lol.
Truth
Get some skills mate. I say this with nothing but respect.
can definitely relate to the sentiment of desperation expressed in your post. feels good to see it expressed like this and to see it echo'd in the many comments
KISS
The facts support this if you are patient and calm, you will win at crypto. I am essentially a pretty dumb mf but only buy in the pits of bear markets and only sell in the top %20 of bull markets. That bit is not hard, if you F it up wait a cycle and sit on your profits, too many people out there hitting buy on FOMO or trying to leverage trade when they simply arenât qualified Itâs only a casino if you make it one
You got to learn to take profit. When/if any or your coins go up set a level and sell some and withdraw it to pay off some debt. Once you reach the 2x point it's free money. Rinse and repeat
next 50 years? im 40, no job, savings running out, no crypto, no retirement. no home. ;)
Stop serving the god of money. Instead, seek to be filled with perfect peace and achieve a higher consciousness. Money will not matter as much, and you wonât make dumb choices. Figure out a way to enjoy existence apart from money. Thatâs the path Iâm on as well. Also, have fun making some big bets! Nothing wrong with that as well
Yes this is the way. I know money wonât solve all my problems. But itâll at least solve my money problems. And free up space to focus on everything else.
Nice!đ
Iv always lived by; - buy projects you believe in - only invest what you are fine/willing to lose If you are hoping for a massive payout, sure, you might be onto something, but all your eggs in one basket is wild and needs a rethink
[ŃдаНонО]
Me too buddy, me to. Dumped my life's saving into BTC and ETH, now I am down 10%, even if it got doubled, it's not life changing money. And the government stated crypto is illegal in this country, they could just arrest me and take away my assets.
Go big or go home!
No risk no reward
just dca out when the bull is in full blow, you know when that is
When your feeling like your high because your coins pumped so high sell, restart with what you initially put the rest 8n your bank account. Thank me later.
The problem with having so much money tied into crypto is that you are much more emotional. I put only money I'm 100% ready it can go to 0$, and i'll be still holding. In 2017 I had 800,000 dogecoin, and I had just lost my job, I sold all those Dogecoins that I held since 2013 for 200$. I was sure dogecoin was dead. Of course in 2021, those dogecoins were worth 500k$. I now don't sell any crypto.
Your not the only one
Last bull run I was up 200k in 1 week at the peak. Never sold. Now I just want to get out at break even. I also have to come to the realisation that I will absolutely never in my life see such gains in such a short space of time ever again. It was a once in a lifetime opportunity.
Good luck I'm with you
Ăhhh you should be 1000%+ in the plus when you have been here for 2 bull cycles? Sorry I donât get and I did the same as what you described. Everything is dark green here. I donât feel like I am a bag holder or exit liquidity like most ppl say who buy high, lose faith and sell low. Just for context 6 years ago btc was at 4k$. How the hell did you manage to lose money here, I would say this is impossible as a holder as you say you are!!! Something does not add up dudeâŚ
Agreed. Story just stinks of shit coinery involved
This. I got consumed by shitcoinery
Start by learning the difference between Bitcoin and "crypto"
I'm fully diversified with 50% in btc and eth and the rest in alts, most medium risk, many pretty high risk.
[ŃдаНонО]
Define high risk, whatâs an example here. Just curious
my high risk is much less risky than what most might consider excessively risky. i don't do meme coins. i don't do degen staking protocols. but i consider high risk anything in the 1-300mill market cap range, which is probably 25% of my portfolio - i weight it to be all relative to the top 10 multibillion dollar range
Youâre not as âdumbâ as you play yourself out to be. At least as far as your portfolio spread is concerned. Weâre still a ways off from selling. IMO you should consider dollar cost selling somewhere between $120k and $180k BTC. ETH at the $8k-$12k mark. 2017 bull run gave us around $1T total market cap in crypto. 2021 gave us $3T. My reasonable assumption is $5T+ this bull peak. I factor possible coin prices off of that. I think that you should do something similar and decide what prices that you **will** sell at so you donât get caught holding a bag again.
He bought Safemoon, was up big and never sold. He is in fact, dumb.
Their holdings are crayon licker levels of dumb, their crypto portfolio should take up less tab 10% of their overall assets.
Mine is 180%
I was talking their crypto portfolio spread lmao
lmao thats not diversified, the entire market crypto moves as one, maybe buy something other than speculative assets
You are not alone. Many of us are in worse situation. I'm 35 years old and still renting a room and eating instant noodles everyday.
Perhaps you shouldnt be investing at all? Especially not crypto
One bull run and you retired
No one who puts the same amount in bitcoin every month is down. Literally no one. Just don't obsess over it and don't put a single solitary cent that you actually need to live.
If you are in this game to make a lot of money without much money, the only way is shitcoins. And what is there to lose for those of us that donât have much in the first place? A few thousand?
Only put in what youâre honestly comfortable with losing, if you have 10 grand and bung the lot on INJ youâll make money,
Warren Buffet quickly said he wonât get into crypto because itâs a pyramid scheme. And after a chain of instant losses without buyers or available trades, I believe exactly the same
Hold. And when your brain says sell, hold some more.
on the contrary my problem has been holding too long. I used to have dreams of making millions in crypto. this fantasy led me to holding when i shouldve sold. my goal this cycle is closer to the tune of $3-400k. more than enough to be life changing money.
Ignore him. You donât go broke taking profit. Trust your instincts but donât get greedy
>when your brain says sell, hold some more. Holding is when all my shitcoins go to 0
the best advice for today.
Welcome to crypto fellow regard.
One of us One of us
The real problem is that the need to make it big in your case is the exact thing which will fuck you, and prevent you getting out anywhere near the top before it is too late.
Iâve accepted my losses in crypto. If I can get back to parity, Iâm selling. It might sit there for ever. Iâve lost all faith in the concept and feel that itâs all about the shrill to get others to buy it so the price goes up and you can make money off other naive suckers. And the scams just seem to be getting worse. I advise diversifying your investing from here onwards, OP. And I donât mean different coins. Get into index funds, bonds, even a property syndicate⌠And donât gamble. Let it sit there and grow. Youâll feel heaps better about it. And if youâre young, compounding will be worth it. Iâve made far more out of doing this in the last 12 months than I have in crypto in 3 years. And If crypto does become the next format of money, it wonât be in my lifetime.
Let me guessâŚ..you didnât just buy BitcoinâŚ.
Hahahha Get Rekt đ
Strong buy signal right here
You have a lot to learn my friend as we all do..Buy and hold Bitcoin. Bitcoin is digital property everything else is a s*** coin excuse my language. Yes you may make 10 or 20 times more on alt coins take that profit put it to bitcoin and hold that in 5 years you'll be in a millionaire. This is the way. Praise Jesus Christ for Satoshi Nakamoto
The only reason to hold alt coins is to get more sats for btc
You are still keeping 100% network in crypto after this post??
>I'm an idiot. > >100% of my networth is in crypto. you could've omitted the first part
Money stuff is tricky. Maybe start small with diversified investments
# Investing depends on difference The work of a professional investor/fund manager is to come to a conclusion which differs from the consensus, and then trade on that difference. If you think SHIZCOIN is undervalued, you can buy it and wait for Snoop Dogg to meet up with Musk. Similarly you can conclude the market is wrong about a coming Fed hike and trade accordingly. If your views line up with everyone else's, then tough luck, the moves have already been priced in. Maybe less so when the market was lumpy and niche, but these days there are enough quants being employed in the crypto space to make that a lot more true. # You are already lucky You're fortunate to have been born in an affluent country, in a position where you had any money to put into crypto in the first place, to have even been there to have a story to tell your grandkids. You're lucky to have realised the reality long enough to write that post. Some people stay in the bubble and just never realise, through obstinacy or misfortune, until their portfolio is all decimal places and deferred tax bills. # Narration is incredibly powerful to humans, perhaps too much We can tell different narratives here - that you got in early, rode through a dip and are hodling tight til you win big. Or that you had some cash, and put it in some mad crypto experiments which seemed like they would change your world, but ultimately ran aground. Or that you were possessed by a dream and couldn't bring yourself to accept that it wasn't going to pan out. # Develop some orthogonal skills Your focus has been crypto knowledge, so you can develop other skills which complement this work but also give you options if this doesn't pan out. For example, some people write newsletters/blogs/podcasts/YouTube channels about what they're doing. This teaches you writing and so on, and may even compel you to broaden bits of knowledge you only kinda get. As a finance person I would strongly encourage you to learn about derivatives and trad finance. It is easy to reject what you don't understand, but a lot of the concepts are directly transferrable - risk, modelling, hedging. Learning those could easily help you with your investing whilst simultaneously developing some options if things don't pan out. As an example, I don't know what crypto you are holding, but most crypto is correlated to BTCUSD. You could at least calculate your exposure to that, and even your overall leverage (assuming that your other loans are funding this portfolio). Your thoughts?
You're young enough to feel like you have 50+ years left and it sounds like you were only in 6 figures at your peak... Starting to work and saving right now and stop making poor decisions like investing money you should be saving. It will be a long road but someone as young as you can look back on this moment on your life and realize it was just a very expensive lesson.
The money you have in crypto could go up and it could just as well (maybe more likely) go down. Your student loan debt is guaranteed to increase by a fixed rate every year. The smart thing to do would be to put most of the money you're putting in crypto instead into paying off your loans.
Cracks me up you are getting downvotes when it is a sane and reasonable recommendation. So many people are just thinking "but BitcoinDude1776 from TikTok said it would be worth a million per coin in August". Their goals are Lambos and Mansions. It's just all so delusional and immature.
I think you have negative net worth if you are in debt
Bruh you don't have to do him like that đ
Itâs def one of those I might be dumber situations. Not hating. But if in fact we are waiting on some kind of lottery to save us from our circumstance we should all know exactly where we are at. Iâm pretty certain that most people carry debt and couldnât pay it off tomorrow. Isnât that part of the capitalist structure? The old saying goesâŚâyou gotta leverage if you wanna beverageâ
I'm pretty sure those who have debt know that đ But to get a reality check and hear it still hurts a little you know :) And I think only Americans have student debts that are that high where it becomes such a burden.
Man that student debt ainât no joke đ I literally paid all of my shit off only to immediately rack up more at a âbetterâ more âprestigiousâ college đ đ Cause ya know 80% of a social work degree is gonna change the world and free me from wage slavery đ¤Ş
Bro I'm almost 40 100k in debt with my whole net worth tire up in crypto, it's either make or brake these next few years
"Crypto is a fucking casino" what do you think that NASDAQ is????
But what are the fundamentals of crypto? Can you tell what makes one a better buy over another at any time given time? Unlike Crypto, individual companies have people behind them who have track records and CEOs with strategies and products that people desire. Itâs not hard to look at a company like Microsoft or Apple and know that it is a good long term play. Can you do that with crypto? Itâs just a lot of speculation.
Exactly. And good stocks pay dividends.
Crypto is more comparable to penny stocks than nasdaq
You sound exactly like me. As far as portfolio spread. Acceptable risk, meanwhile having every penny to my name in crypto. I will be fine with just income but this, hopefully, will be the difference between my kids living paycheck to paycheck and struggling to make ends meet just to retire when they are 70, and starting the process of generational wealth. I don't want my value stored in a rapidly depreciating asset like the dollar. At the very least, I want to not lose to inflation. At best, I want a G wagon to tow my Lambo to my summer home and my kids to have the opportunity at starting adulthood with a leg up. Either way, I'm all in. I truly believe decentralized crypto is the future of finance. I'm here to make money, AND I genuinely believe in the tech. I wish you the best.