/biz/ - Business & Finance

>>8106234
This is why you use KeePass

I hear this literally every crypto community

Has real world adoption EVER sent a token's prices to the moon?

Where is proof that there's a working product? Please don't link to boxmining's youtube video of some rfid chips.

There seems to be zero publicly released code. Wtf is up with that?

>>7932924
>mfw this guy is actually quite reasonable and has realistic expectations

>>7582072
>everything is looking good with positive news out of Burgerstan
>we just had a 70% drawdown
>crypto has to fall much further

shhh

watch

and learn

>>5381875
>PS

i thought i needed to buy small cap, obscure coins to truly make it

turns out, you can 5-10x on the big cap coins, but /biz/ never told me :(

who the hell, besides the most painfully autistic autists, would want to do any real work when you can just cash out your ICO loot, cash in on your employee bonuses, or use insider/tech knowledge to invest in the right coins and make a ton of cash fast?

I know people have been wrong in the past, when bitcoin was $1, when it was $100, when it was $1000, etc. People now look at that and think "well if I had only invested 2 years ago, I would be rich. Therefore if I invest now, in 2 years from now I will be rich."

But I have a troubling feeling that right now is different. Right now all this crypto shit is on the verge of adoption - real use cases. The hype in terms of offering pretty dreams divorced from reality is at its peak moment now. After this, after all these ICOs get broken in, after all these early big-name coins start to mature, and people begin demanding REAL things from their coins, their smart contracts, etc... there's a big chance that the space as a whole will fail to deliver.

Think about Chainlink and how much hype there was when it was in its relatively unknown "promise" stage... you were promised the moon, so you bought eagerly. Then, when hype met the real world, everything was deflated and came crashing down against lukewarm reception and a more realistic duller view of its potential. I have a feeling the entire crypto market is in for something like that. It's a massive case of "buy the rumor, sell the news." Right now the rumor (dreams) are in full force. Soon the news (lackluster reality) will come, and there will be a massive sell-off, from which we will never recover.

Just because they were wrong in the past about the price of bitcoin before, doesn't mean they are going to be wrong forever. And I think this is that moment.

i've spent months with the desperate hope of making enough to not wagecuck anymore. i've dreamed about it, fantasized, spent every fiber of my being trying to make it a reality. if these dreams are dashed, it would be like coming off a 72-hr heroin high. the withdrawal back to irl would be so nasty i'll have to kill myself.

anyone else feel the same way?

I barely made any money despite trading crypto for 4 months and spending like 7 hours per day glued to the screen, destroying my health, work, and relationships.

The more I trade and try to understand the market, the more mentally ill I become, and the worse my results are.

At this point, should I throw in the towel? I've been destroyed so many times, my brain is fried, my soul ground down to practically nothing by repeated JUSTings.

No clue. Can you?

I was doing so well back in August when I was blindly trading off intuition alone. I was just moving stacks around on bittrex without a care in the world.

Now, I've become a hollowed out husk of a man, spending hours each day reading news, lack of sleep, eyes bloodshot. I chase moon shots, devour updates and news, and manage my money like an autistic freak, always trying to do the unconventional thing and one-up everyone else. As a result, I've lost 50% of my stack.

Nothing makes sense anymore. It hurts so bad.

These are all semi-true statements.

You should sell at the bottom, for a loss, even if it'll for sure go up in a few months, IF and only if you believe there's something else that will go up quicker and with a higher probability, and you plan to put your money in that thing right now.

Simple. Follow this advice. It's the only CORRECT one.

do hours and hours of research

live in extreme anxiety every day

feel desperate compulsion to always "do" something to try to increase my profits

end up panic buying --> losing money right away. see this other thing mooning, so i sell at a loss and buy that thing. that thing dips right when i have my btc transferred and buy in. then on to the next one. again and again.

in the process of losing all this money, see my previous picks, which i had moved on from, moon for no reason. see casual normies get rich instantly. fume with rage because those were MY coins. i did so much research on them! it's not fair!

>find small undervalued coin flying under the radar
>spend weeks researching, joining the community, shilling it every now and then
>put money in, watch as months go by and nothing happens
>miss multiple moon missions because of your strong belief in this coin
>big event for this coin, wait patiently but NOTHING happens, just a small pump and it goes back down
>finally get fucking SICK of this bullshit, sell at a slight loss (or slight gain), and put money in something else
>old coin immediately moons, goes parabolic for no apparent reason at all
>watch as normies who put their money in 2 weeks ago instantly get rich, 5-10x gains, and act smug about it like they're some in-crowd geniuses
>know that you wasted half a year, dedicated so much time, knew everything about this coin, and lost money

I often look at graphs of coins that mooned and envision myself buying low and selling high. Yet there's a reason why that never happens.

When we see a coin that's low, we don't want to buy. There's a recency effect. We think it's a loser. It's like if a girl sees you get rejected by other girls, of course she's going to reject you too.

Similarly, when a coin is exploding, everybody is singing its praises, extolling its virtue. The coin literally can do no wrong. It is a thing of beauty. It's been so good to you, baby, do you dare show your ungratefulness and sell? Of course not.

Suppose you do buy a coin that's low, and you watch miraculously as it pumps. If you believe in it, you'll stay loyal through minor hiccups. Then you can see its true potential, because you believe. But then, once it's peaked and everyone else can see that it's going to drop, YOU can't, because you have blinders on. You believe, and it's been good to you.

Now if you don't believe in the coin, and you see it pumping, you anticipate massive drops in every little dip. You become skittish and nervous, and you dump that thing at the first sign of trouble - and hence it never peaks for you.

To sum up, when a coin is low, there is massive inertia - you don't want to buy. When a coin is high, you're literally intoxicated with giddiness - you don't want to sell. If you believe in it, you'll watch it peak and then you will get disappointed by it in the end. If you don't believe, you will get rid of it much too early and never see it moon.

So remember that you can never win at this. These are fundamental forces of nature that conspire against you. It's a rigged game. It's impossible to just "buy low, sell high." So what do you do? Well, you do the exact opposite. You buy high, and you sell low.