One of the dangers of making money too fast and too easily is that it completely distorts your idea of money itself
All the horror stories of roundtripping generational wealth (including mine) seem impossible from the outside. You look at someone down seven-figures from peak and wonder - "why didn't they just leave?"
But from the inside, things look very different. You caught a winning trade and suddenly, you were up $500k in a single day. A six-figure portfolio that you used to babysit suddenly balloons up to low-seven figures in a week, but your brain is still anchored the six-figure mark
That's when you become comfortable with more risk and losing more money - because in your head, if you could make $500k in a day, surely, you can make it all back
I didn't know why people used to say that it takes three cycles to really make it as a trader. But after my 2nd cycle, I now understand - the risk profile that helps you make $500k in a day is also the risk profile that makes you bleed out $500k over a year
Lesson learned, but I really wish it wasn't so expensive to learn
In hindsight, the entire idea of valuing everything in USD and paying for every transaction in gas tokens was incredibly stupid
Practically all the UX failures of crypto go back to this core design flaw
People too heavily plugged into the pro-AI X algo don’t realize that the moment you tell normies that any art was “made by AI”, you might as well be telling them that it was made by Epstein and Hitler’s love child
I shat you not. This will be the biggest money making opportunity in the next 5 years.
In 1-2 years when AI is good enough.
We will see small teams making billion dollar Animes and live action movies at sub million dollar budgets.
The moat in entertainment will be gone and so will the cost/bs that stops creators from creating.
Imagine Game of Thrones. But made by 5 guys and the author, with them all splitting the billions it makes.
The HR-lady-ran cess that are Hollywood and Publishing are breaking. The creators are going to take power back and it's going to make them billionaires.
Good.
My personal intuitive thesis for Bitcoin’s underperformance this cycle is that billionaires are a petty, jealous bunch and would prefer making an amorphous, anonymous bunch of “Bitcoin holders” richer instead of making “Michael Saylor, 4% BTC holder” richer
I know this because I know billionaire fund managers who obsessively track their rankings on the rich list. It ruins their day when some chump like Saylor zooms past them
@rektdiomedes I really hate the fact that the algo pigeonholes you into "crypto" and hurts your reach
because this is top tier content and incredibly good writing. It needs a broader audience
@varunram he's also been talking regularly about the things most people really care about - inflation, housing
and in america, everyone has some story of a loved one who is an addict so he'll get that sympathy vote too
@soupdefi the same clowns will then go around and ask "why is everything gray and minimalist boring?"
anytime anyone adds anything fun the tards all come out of the woodwork screaming about pRaCtIcAliTy
The ACE round is the most significant development in crypto to happen in years
Public access to private companies without the token overhang is going to create millionaires
Even if you don't follow crypto, you need to follow how these flesh out and get adopted. It'll take just one breakout business to establish this as the norm
he's eerily like my eldest brother
down to the addictions, the whoring, the chronic underperformance at work
I always felt bad both for him and his dad because I've seen my brother up close and people like him are always trying to just break out from the cycle but they can't and it hurts everyone around them