Ben and Keith on crypto conviction
Keith (inneroperator) and Ben (iambenleavitt) don't freak out when the market drops, and the reason is simple: crypto was never their whole income. They've weathered these storms for years because money comes from elsewhere too. Their advice for anyone buying in? Don't sell what you already hold to chase something shinier. Add to it, or use fresh funds for the new thing. Income should come from outside speculation, not from the market itself. The hindsight bias is what gets people. Oh, I should've swapped into that other coin, it would've printed. Easy to say after the fact. But if conviction is real, stay put. So many people came in with crypto as their single boat, and that's why crypto Twitter is a cesspool. No time horizon, just volatility reactions. That's the whole problem.
Transcrição (en)
I've struggled with trying to coach some people through the idea of what to do with their crypto and people having this hindsight bias of like, oh, if I would have taken this crypto and put it into something else during this time, it would have done so amazing. And it's just like, dude, like. Very easy to do that, man. Don't look at it like that. It ain't like that, man. If you have high conviction in something, stay put. And if you really want something else, buy more. Don't like, like, pick up something, like put in little clips, whatever you can afford. Don't sell what you currently have. Buy some more of the other thing. Get your USD or wherever the hell you are and buy some of that. That's usually what I say is, and I try to preach stuff, the idea of like, we've got to always, all of us have to be trying to find ways to generate income from other places and not trying to make the markets our way to generate income. Well, I think this show is also a case in point of that is that you and I have been very active in the crypto markets for a very long period of time, but we don't freak out like the average person because it's never been our only bet, right? If you're going to be in something where you have to weather storms, you can't come into it with it being your only boat, right? But so many people did. Why do you think crypto Twitter is a cesspool? It's because almost everyone there, it was their only thing. And they went way too far in not thinking about the time horizon of how the world will change around them. If you enjoyed this, be sure to hit that like button and follow to stay up to date with what's going on in the world and everything else, memes and markets. Peace.
