/biz/ - Business & Finance

[Anonymous No.57020346]

Hello, I started this shit in 2016 and made a decent bit of cash since then, but I also lost everything multiple times before I learned some hard lessons.

Allow me to give you some wisdom.

1) Shitcoins are not for holding.
2) Do not become emotionally attached to your shitcoin. It's a data set on a ledger, it's not an actual coin, its not an actual meme.
3) Brown people = lose money. If the community for the thing you are hyped about is predominately brown, your finances are in danger.
4) The moment you feel like a genius and like all your life problems are solved, is what 'euphoria' is. It takes incredibly discipline to actually sell something at this point, but you really should secure some profits.
5) 'My shitcoin will bounce back' - no, it probably won't. The history of crypto is a graveyard of dead flatlined shitcoins.
6) Don't chase a pump. If a shitcoin is up 90% in a day, chances are you missed out and it is going to correct extremely hard soon. It's tempting to jump in and pray to get a nice bump, but most people lose with this strategy.
7) Nobody is fudding your shitcoin. There is no conspiracy against it. More likely is the possibility that people who aren't emotionally invested noticed it was a turd and pointed it out. Nobody has the time, money, or inclination to run a negative marketing campaign against your random piece of shit. You know its true.
8) Lifestyle creep can eat into your crypto earnings and holdings. You should enjoy yourself if you make some money, but if you let it get out of control you can find yourself back in square one really fast. For example I spend around $200,000 on vacations, parties, women, rental vehicles, etc before I knew it. Some of it was worth it, but most of it was not.
9) The ultimate luxury is a life free of stress. If your crypto is stressing you out and causing you worry and anxiety, then it means your quality of life is degraded. It's okay to step back for a bit. Close some positions, get safe, chill.

[Anonymous No.57020388]

What do I buy? Tell me what to buy you wiseman faggot

[Anonymous No.57020420]

>>57020346
Generally a good post with sound advice but as someone who worked in the industry for a few years I can tell you this is wrong:

>7) Nobody is fudding your shitcoin. There is no conspiracy against it. More likely is the possibility that people who aren't emotionally invested noticed it was a turd and pointed it out. Nobody has the time, money, or inclination to run a negative marketing campaign against your random piece of shit. You know its true.

Believe it or not a lot of money gets spent on both shilling and fudding. There are a lot of bad actors in the space and because liquidity is generally quite low outside of BTC and ETH it is pretty effective to spend less than 6 figures to move the market for a 7 figure gain.

[Anonymous No.57020423]

>>57020346
Good list OP. I only do stocks but a lot of it still applies. My dad taught me 9 from an early age and I am realizing it more and more the older I get. 4 is the hardest to come to terms with. Realizing euphoria and not chasing is easy, but setlling is still very hard. I'd add somewhere to never look back. All these "if I had held I'd have made X more" posts get followed up by too many "if I wudda sold I wouldn't have lost everything".

[Anonymous No.57020435]

10) exit strategy. You need to have an offramp for your crypto earnings, and you need to decide if you are going to play above the table or below it. If you begin moving around serious amounts of money (multiple 10's of thousands a month) through banks, you will flag every financial system on earth and then you will have attention paid to your accounts. For me, this meant KYC processes, tax specialists, and an audit. There are many ways to shelter your earnings from horrible taxes, you just need to sit down and focus on learn about it. A week of your time will save you huge amounts of money in the long run.
11) don't tell anybody shit about how you made your money, ever. Ever. Ever. Ever. Not your family, not your 'friends', not your women. You are not involved with crypto. Don't mention it. Don't say it. The negative social consequences of being a 'crypto-rich' faggot are enormous. Once you enter their realm you will see what miserable, pathetic creatures they are. Use wealth to create a new persona for yourself, and generate plausible deniability for the source of your funds. At worst, simply remain completely mysterious. Nobody has to know.
12) if you know your seed phrase / etc, it means you can be tortured for it. You will spill everything after an uncaring swarthoid takes a hammer to your fingers. Just another reason to not talk about shit, but also a reason to consider traditional custody methods for your information. 'not your keys not your crypto' is true, but it you have your keys you also make yourself an easy target.
13) A usable fake passport that can pass KYC and also be used for travel, only costs ~$500-$5000, depending on country. You can also open bank accounts with a fake passport and then cash out.

>>57020420
shut the fuck up, retard. Nobody is fudding your shitcoin.

14) Set aside an emergency fuckup fund. I suggest $10,000 in cash somewhere that you cant access it if you are in a shitcoing gambling frenzy. It will save your ass, someday.

[Anonymous No.57020493]

>>57020423
>I'd add somewhere to never look back.

excellent excellent advice.

15) Never look back. Don't agonize over missed opportunities or mistakes. Coulda shoulda woulda...no, you have no idea what would have actually happened. Don't obsess about it, move on. I was guilty of a lot of this in the first cycle.

16) Final bit of advice - more than likely it will take you a few cycles. You might make a lot of money your first cycle, but I can almost guarantee you that you will fuck it up and lose it all, somehow, within a year or two. Either you will hold to zero, lose it margin trading, get scammed, etc. It's almost a given, its basically human nature. Learn something from your mistakes, try not to make the same ones. For most people this is a gradual process, but possible

Bonus advice - wealth is nothing without physical health and wellbeing. You will feel better if you get healthy and stay physically active, even if it is tempting to blob around all day. There is nothing more pathetic than a fat, crypto-rich loser. Having money only compounds your self hate you feel from being disgusting, because you quickly realize how much you are spending to cope. Losing weight is actually pretty easy, putting on some muscle feels good, and you don't really have to work all that hard. Try an anavar cycle aka 'girl steroids' and work out 3x a week for a couple months, no side effects and you'll feel great, trust me.

[Anonymous No.57020513]

>>57020493
I asked you a question captain roidhead

[Anonymous No.57020579]

>>57020513
you already missed your chance to buy low during crypto winter

you will spend this cycle gambling on shitcoins, posting your portfolio gains, then agonizing in embarrassed silence as they all crash 95% and leave you in ruin

that being said, solana chain shitcoins seem to be hot right now, might be the meme to chase in the coming weeks if this shit actually does kick off (we are not in a bull run yet)

[Anonymous No.57020665]

>>57020579
Good thread. What are your thoughts on KAS for this upcoming cycle?

[Anonymous No.57020719]

>>57020665
just some pointless shitcoin, like all the others

[Anonymous No.57020819]

actually I do have 1 more thing

before you get heavily involved in trading/coinmongering etc, you should do a personal test to see if you can recover from losing your primary authenticator/devices

for example, in order to access an exchange you need to authenticate, usually

so, set aside a day and put your phone/laptop whatever in a drawer and pretend they were stolen from you, and then attempt to access your crypto

chances are, if you're a stupid noob, you won't be able to do it, and that means your personal crypto finance has a single point of failure that can cripple you

figure out what you need to do to become less fragile, and how to have multiple authentication or how to recover your authentication ability, there are multiple ways to do this, but the important part is experiencing the helplessness that comes with losing access to your primary device that everything revolves around

I highly suggest if you want to make money in this scene, you do this straight away and get it done and over with. It will save your ass in the future, also.

[Anonymous No.57020834]

Do you think we are currently in the bullrun and what triggered it?
I feel we are due for a serious correction and this current market sentiment is artificially manufactured based on nothing. normie sentiment is waiting on some blackcock etf as if it'll do anything at all
20k btc waiting room

[Anonymous No.57020879]

>>57020346
Based. I'm also a 2016 fag but was too poor to afford a whole coin at $2400 so just spend like $300 2x on bittrex then lost my email and account.

[Anonymous No.57020983]

>>57020834
>Do you think we are currently in the bullrun
No, I don't think it's a bull run. Just a little bump after market sentiment worldwide trended upwards. ATM I think crypto is still following btc and to a lesser degree eth almost entirely.

I think that what is happening right now is a response to the moves by the SEC in regards to approving crypto ETF's. When/if that happens the conditions may be right for lots of new money to enter crypto, and then we might get a bull run.

A bull run cannot happen without new money, otherwise its just the same money chasing itself around and re-shuffling (which is what is happening now).

Personally I believe we already had the correction, and are now going to crab for several months to the annoyance of all. I'm hardly an expert though, I think I mentioned that making money in crypto is all about luck and timing, not actual economic education or knowledge.

[Anonymous No.57021093]

>>57020983
I can't help but feel like we haven't been soul crushed and rugged like 2018 this cycle yet. I sold monero for btc at 11k in 2018 on the 1at dead cat and let my small bag on an exchange then watched soul crushing dead cat after lower high dead cat until it followed that up with a -50%. I left biz and crypto space only to come back in 2021 and wait for the bottom to start DCAing back in. I never got the same "it's over" vibes as I did in 2018. I recently threw my DCA bitcorn and gainz at new alts on goybase to hold until the next BTC ATH. I also have 1 BTC in cold storage I got from my dad when he bought 3 coins at 10k when I told him about BTC in 2017. As a boomer he had money to yeet at it.

[Anonymous No.57021169]

>>57021093
idk btc was down at 15k and most shitcoins were down 90% or more, felt like a decent crash to me

with all the money in btc now, I don't think a truly apocalyptic crash is possible anymore unless the government tries to do something like banning it entirely (which I don't think they will do either, unless they want to deal with a legion of potential timothy mcveighs)

[Anonymous No.57022900]

>>57020346
My portfolio is 80% BTC 20% ETH and I'm up 8x on my initial. Should I reallocate, cash out or do nothing?

[Anonymous No.57022930]

>>57020346
>>57020435
>>57020493
>>57020579
>>57020719
>>57020819
>>57020983
>>57021169
Holy shit genuine schizo thread. Seek help, OP.

By the way I’ve made millions in crypto and stocks and most of your “advice” is retard tier.

[Anonymous No.57023388]

>>57022930
Let's hear your boomer advice grandpa

[Anonymous No.57023493]

>>57022930
cry

[Anonymous No.57023668]

>>57020346
ty OP, i've been in the shitcoin casino for a while and some of the points resonate with me so i know you aren't talking out of your ass. i'll save your post and remind myself of these lessons when I think i'm a genius. bump for others to learn

[Anonymous No.57023777]

>>57020346
All are true except #7

[Anonymous No.57024807]

>>57023777
just hold for another 7 years

[Anonymous No.57024981]

>>57020346
Posting in a good thread. Nice work OP.

[Anonymous No.57025025]

good thread. now waiting to see if OP has any breadcrumbs or general direction on what are some good prospects for this coming bullrun