Monday, June 29, 2020

Many of you will regret Crypto

I made a long angsty post about something along these lines, but I decided to scrape it and tone it down a lot.

When I read the various local finblogs, it is apparent that many writers spend countless of hours learning and studying and applying their knowledge to try and make money. Many are bright, but almost all are very hardworking.

Yet the ridiculous thing is that I don't even really try very hard, yet money just falls all around me in the crypto world. I just pick it up.

It is so hard to explain how the risk/rewards are massively skewed in favor of the risk seekers in the crypto space.

And the crypto market is anything BUT efficient, so it is not only easy to make massive gains if you are right, but it is also very easy to actually be right.

The majority of the participants in the crypto space are early 20 males with zero prior investing or financial experience. They do not understand anything when it comes to the markets. It's like gambling against babies.

I personally find that the greatest tragedy in the finblogging community is the outright disgust for anything cryptocurrency related. That kind of groupthink has caused many people to dismiss the amazing opportunities in the space for the past few years.

The cause of that is partly too much mainstream media, partly too much of carrying Uncle Warrens balls. That's just my guess though.

Anyway, this topic is something that riles me up because I have heard and read to no end of it from so many people how the whole cryptocurrency thing is a scam, and how such people shouldn't waste their time and money "gambling" and they should invest in whatever stonks they are punting on so can huat together.

Meh.

But I appreciate all the pushback I get that YOU CANT MAKE MONEY FROM CRYPTOCURRENCIES because it just fuels my drive to make EVEN MORE MONEY with cryptocurrencies.

I must admit, it is very petty.

I can be a petty man.

But flexing that I made more than a million bucks from bullshit ponzi rat poison internet fake scam money when everyone said I couldn't? That it's not possible?

Well, that gives me a high.

It also makes me grin from ear to ear when people attribute my success to "luck" as well, haha!

Honestly, I don't think I am very intelligent. In fact, I am I painfully aware that there are plenty of people smarter than me. But the one thing I did right, was to dare to look at things from a different perspective.

Talent is hitting a target that no one else can hit.

Genius is hitting a target that no one else can see.

 To big banks with prop trading departments and millions of dollars of that their disposal. To hedge funds with insider connections. To everyone smarter than me and with more resources than me.

I don't have to beat them by competing with them to hit their targets.

I get to beat them by hitting the target that they didn't even bother to look for or understand.

- GMGH July 2017

6 comments:

  1. Got introduced by a crypto senior Long time Ago, and yeah, regret not buying more crypto
    But then I had limited capital too. How do you got Started looking for inefficiencies
    I found some arbitrage opportunities, milked it for barely a month before it dried up
    Couldn’t find anything else afterwards :(

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  3. I am vested 50k worth at frist, but it is now worth some 20K, at the high i was actually 100% in profit. I am a hodl, i still believe crypto is going to give me 10 bagger return soon. I have btc, eth xrp, bch and bsv(got this from hardfork of bch) , Expert reading here any advise for me regarding the crypto i hold???
    Wish all luck.

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  4. I wish you would post more guides or insights here though...it's nice to see you doing very well in crypto and all but...sigh

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  5. You're our motivation!! :)

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  6. Thanks for replying to my discord msg and confirming my views. Its a very inefficient market.

    DK

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