Some context: I’ve been in crypto since 2013. I have made so many bad decisions and went through many cycles many of you probably have went through. I’m one of those guys who “coulda been a multi millionaire”. Fetal positions in bathroom, loss of sleep, Satoshi dice to get even, etc. One thing I stopped doing is pitching crypto to other people. The downside is worse than the upside. I sound like some podcasts now when talking about crypto to people, I preface it with “this is not financial advice”…
That said, even doing this with a co-worker he went out and bought some LTC and ETH during the ATH last week. He was visibly upset the next day. He bought a $1k USD worth of crypto for the first time with his bonus and then immediately lost 15-20%. He was pretty fucked up over the experience. Like his dog died or something. People just expect positive outcomes 100% of time, I guess.
My first thought was “who gives a shit about 200 dollars”, but since I felt somewhat responsible for his despair I tried to give him some advice. My advice was that if you want to succeed in this space you must not give a shit about money. You need to become desensitized to money to succeed. Surgeons don't throw up during open heart surgery. If you will give a shit about the money you're putting at risk, don't do it.
It’s so cliché but Warren Buffett’s quote “Be Fearful When Others Are Greedy and Greedy When Others Are Fearful” is so fucking true in crypto. It's what's making me profitable. Even in this sub, when people are talking about lambo's and moon I hold off, and buy when people are talking about sub $300 ETH. Anyway, hope this is helpful to someone here like my poor co-worker haha