Everyone wants to be a crypto multi-millionaire.
But do you have what it takes...?
Do you have the psychological temperament to watch your portfolio lose millions in a day?
You know the volatility in these markets.
Say your portfolio were to get up to $5 million. There are gonna be days you're gonna see a million dollar in losses.
Could you handle that shit?
My first real rodeo, I lost about $1.5 million in six months. That was not fucking easy. At all.
Granted, there were alot of powerful lessons in the experience that've empowered me to manage everything better from thereon.
However, as XRP just woke up and the prospect of that big money is coming closer again, there's a certain nervousness. Cuz yeah, the gains rock. But it takes a real mental & emotional fortitude to weather the storms as well.
And when you're dealing with smaller amounts, it doesn't seem as big of a deal. But when you're talking 6 & 7 figures...
While many want the moon Lambo yesterday and are itching for the big gains fast, there are gifts in a slow and steady increase.
We all know the stories of those who've won the lottery and ended up bankrupt a few months later, because they had no clue how to manage the increase in (monetary) energy. You really think hitting it big in crypto would be all that different for anyone who hasn't grown their money management skills over time and strengthened their capacity for handling bigger amounts of wealth?
I lost over a million, because it did come so fast and I had no clue what to do with it. HODLing turned out to be a shitty strategy. Pulling it all out and paying the governments six figures in tax would've been equally shitty. Only now after years of integrating the wisdom from all the lessons in the experience, do I have a clearer sense of how to more responsibly manage funds - whether smaller or larger amounts.
And if you are struggling to manage the smaller amounts, you're more likely to get wreckless and blow the larger amounts.
Savor the journey.
Forget the Lambo. Make sure you have your damn foundation set solid first.
Do what you need to do to get comfortable with the valleys, as the higher you go, the deeper they're gonna get. And God ain't gonna give you no millions if you haven't built the character and skills to be a wise steward of it. (Unless to test you and/or for his own entertainment of watching you blow it as an effective ego-destruction mechanism.)
Or ignore this advice and do what thou wilt.