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

if you own something but you wouldn’t buy it for what it’s worth today, then you should sell it.

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.

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.”

When social-media influencers who were only lightly involved in crypto start launching projects, it’s time to sell. Their audience is your exit liquidity. And if you weren’t already invested in some area before the influencers started shilling it, you’d be an idiot to buy in. Otherwise, you’re the exit liquidity.

The value of the underlying business didn’t matter; what mattered was how much people could imagine it being worth.

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 starting to understand why I’d seen people on Twitter say you couldn’t do crypto part time. You either hold Bitcoin and Ether and don’t touch it, or you fully dive into the mania. Doing it halfway is how to lose money.