https://t.co/24QCVN9zZY
I just uploaded a more structured, sit-down style video. Check it out if you want a full breakdown on this asteroid trade from me ;)
https://t.co/24QCVN9zZY
I just uploaded a more structured, sit-down style video. Check it out if you want a full breakdown on this asteroid trade from me ;)
I'm going to tell a short story of one of my friends from crypto, for the story we are going to call him Bob
Bob and I have very similar backgrounds, we both started this cycle w nothing but had some previous cycle experience
Bob had a very natural talent for trading and holding select cryptos that always seemed to outperform
In the beginning of our trading group he was what me and most of my friends considered the best, he came up very quickly in basically a years time
From the beginning of 2024 up until January of 2025 Bob was around pretty much always, then TRUMP happened
I guess this was a pivotal point for Bob, he saw what most everyone wasn't able to see and just dipped before Q1 even ended
Bob joined the call one day and told us he sold all of his crypto, not a penny was left in the game and he was off to go live his life
And after that we didn't really see Bob anymore, he would hop online occasionally if a new onchain bubble appeared to be popping up, trade for a day or 2 (via loans) and then offline again
Being as good of a trader as he was I am 100% certain that if he stuck around he would have more money than he has today, but that's not the point of this story
The point of this story is that Bob came in the game with nothing, left with gen wealth after a year went by, avoided all of the bullshit we went through this year and is probably way happier than majority of the people on this app
Thinking about Bob today not only made me miss having him around in calls but made me remember that the goal of this game is to leave one day and I think I lost sight of that for a while
If you are determined to make it in crypto obviously its going to take time, you can't get there by doing nothing, you have to sacrifice alot and not everyone is going to make it in a years time
But I think that everyone can learn something from Bob, set goals, work hard and when you achieve them... this is the part that most of us struggle with, allow your hard work to translate into a good life and go live it
the cold truth about yesterday:
It was an unpredictable event, the same way that the FTX blowup was all things considered an unpredictable event.
People with great risk management, or running hedged positions, got run the fuck over and blown up for a substantial amount of money.
It really fucking sucks, there's some element of "skill issue" to getting liquidated on a day like yesterday, but honestly it's not the "skill issue" you think it is
the truth is that USDe operated the way that it should, it was fully redeemable the entire time, it never had a reason for it's value to go below $1.00, this wasn't a greed issue with people using some risky ponzi as collateral, there's a reason that aave hardcodes the value of USDe at $1.00, because it is verifiably collateralized (overcollateralized now)
I guess what I'm getting at is, yesterday simply becomes another reminder that the reason we are able to make outsized returns, is because you have to prepare for not only the unexpected, but the unimaginable
I know some of you likely weren't around when FTX went down, but the notion of that occurring was so fucking unimaginable, BIG REPUTABLE accounts were posting things like
"Can't wait to get my airdrop for depositing to FTX during the FUD"
99% of people who claim they "knew" FTX was going to go down just wanted the hindsight clout.
Yet, these occurrences while unimaginable, are the types of things that we MUST prepare for as traders with money in crypto.
At the end of the day, if you have more than $0.00 and a will to win, you are not wiped out, you're simply restarting, and this is what I consider an "Honorable" defeat, where I believe the recovery from a blowup is admirable and something we should strive to glorify.