Crypto Confidential: Winning and Losing Millions in the New Frontier of Finance

Crypto has this speculative, casino-like underbelly to it, but the technology making that possible has some fantastic uses. Bitcoin is slowly but successfully establishing itself as a store of value akin to digital gold. Ethereum is powering an increasing number of decentralized applications. Stablecoins are clearly the first major one, but many mo

My favorite is to sell something as soon as it’s worth more than you would pay for it. If you’re looking at the hundred thousand SHIBA tokens you bought for a hundred bucks that are now worth $10,000 and wondering if you should hold on, ask yourself if you would put $10,000 into it now. If you wouldn’t, you should sell.

PEOPLE was the first “truly fair launch” of a token. Anyone could buy it for a fixed price, and now there was a fixed supply that could only decrease. No inflation, no insider deals for VCs: the perfect digital money, even better than Bitcoin.

I was still completely consumed by imaginary money, video-game tokens, and pseudonymous people spying on my financial activities.

But how long was I willing to live in this exhausting online world trying to get rich from it? Aside from Sutton’s birth and moving, most of my memories since January took place behind a screen.

but the whole ‘diamond hands’ idea that you should never sell your coins no matter what is a way to turn you into exit liquidity.”

Other people use technical-analysis rules, which require tracking the price of the asset with fancy software to make decisions like: If the price goes back above the average price over the last two hundred days, sell; when it drops below again, buy more.

You can create a simple rule, like: If it goes down 50 percent, sell; if it doubles, sell half to cover the initial investment. Or you can create a rebalancing rule, like: If this shitcoin becomes more than 10 percent of my total active-investing portfolio, sell half.

But that is the first rule you need to follow: make rules, even though they can’t be perfect. Whenever you buy something like DOGE or a Bored Ape, you need to know in what situation you will sell it. You need to have a rule on both ends: a rule for if it goes up and a rule for if it goes down.