A Case Of Two Crypto Millionaires
Its not a surprise that crypto has made making money quite easy for a lot of people, but while making money is easy for a lot of people, it seems hard for some, because they lack the knowledge, information and opportunity. Some might have the knowledge but not have the opportunity, some might have the opportunity but lack the knowledge to recognise an opportunity when they see one. Reminds me of a twitter crypto space titled The knowledgeable brokeman. Its certainly easier to create wealth crypto today but you need patience because that is all you need to accumulate and create your wealth.
I feel like patience give you time to learn a lot and also value your wealth when it comes, because without experiencing patience while trying to accumulate wealth, one might not value the wealth and lose it when it comes because they think it was too easy. Take a scenario of two people who became a crypto millionaire the same time, it took one 3 years of crypto experience to achieve that and it took the other, a month to achieve that. The one month guy will be considered lucky because it took them a month to achieve, but who do you think will be able to handle their wealth, maintaining it and make it sustainable. The rational thought would be the 3 years guy, because during that 3 years he has gained experience, learnt a lot and made mistakes that will help him make better choices right? While the one month guy was just lucky with no experience at all, doesn’t know the struggle, was probably lucky to have invested hugely into a crypto project that made him a millionaire.
Being a millionaire overnight can be really exciting, but what do you after that? You have to maintain that millionaire status right? I personally feel, the one month guy would have this idea that if they can be lucky this time, they can always be lucky, they start feeling like they have the Midas touch, everything they touch turns to gold. That might just become the beginning of their losing streak, because they haven’t gone through the learning process yet. But the 3 years guy, with a lot of experience will probably have a better idea than the one month guy on how to utilise the money, diversify it and make sure its value is maintained. But life can be funny, its still possible to have the 3 years guy lose the money faster than the one month guy because life is unpredictable. This is why I write down things I will do when I become a millionaire so I dont get caught off guard.
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I know I made some mistakes this last bull run that resulted in my holdings being liquidated. What is exciting is that I managed to stack a lot of crypto. It was more than I had ever saved in my entire life. I don't feel bad because I got liquidated at a profit. But, I'd feel better if I still had some.
Going into this next bull run, I know how to better protect myself from loss. I intend to keep my crypto the next time around.
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