Anyone - be it me, a well-meaning friend, family member, colleague, financial "advisor", what-have-you - who is telling you to jump into any crypto project at this particular time is a scammer, I repeat - a scammer. Granted, many of these have the most wonderful and lofty intentions in mind and truly want you to "get rich" alongside them but I can assure you they have (1) no idea what they are talking about, (2) are oblivious to what is coming (both to the ultimate upside and down), and (3) are most certainly getting scammed themselves. Some of these individuals are blatant and malicious, however "blind" they might be to their maliciousness. The most malicious place for crypto scams is, of course, social media: YouTube, Instagram, TikTok, and Reddit. The second worst place is the lips of newcomers who have recently gotten lucky off some doggie coin of which they erroneously believe they are "in early" for "the long term". Other scams can be found in most North Star Ventures-like newsletters that you might be subscribed, most of which are written by some of the most "respected" names in the investing world. These scams can be identified by the likes of, "John D. Stockpicker called [the 2008 Financial Crisis] or [the last Bitcoin bull/bear market] and now thinks XYZ technology stock will be 200x better. Sign-up for his *free* webinar to get the inside scoop." I can assure you that virtually no one called the 2008 crash and even fewer the 2018 crypto bear market, fewer still the 2021 crypto mini bear market this past summer. (It should be noted that I did not foresee that last one either, or at least did not call it correctly.) Sure, most altcoins at the tail end of the bull run will perform astonishingly well. But this will only engender more risk-taking and ridiculous forms of speculation, so any paper gains that one might think they have accreted are guaranteed to evaporate faster than they were accumulated. It goes against human nature and our inborn herd-like mentality to sell when the candle is green (going up) and to buy when the candle is red (going down), the same as it is exceedingly rare to witness a world-class athlete retire after a Super Bowl championship, a heavyweight title, or a Master's Tournament victory. No, most end their careers because of injuries and old age, usually in shame to their former glory. The classical Greeks called this inescapable inclination of man "tragedy" and proceeded to build their entire aesthetic conception of the world based upon its unavoidability, whether witnessed in the life of an individual, city-state, nation, or civilization.
The Open Secret
The Open Secret
The Open Secret
Anyone - be it me, a well-meaning friend, family member, colleague, financial "advisor", what-have-you - who is telling you to jump into any crypto project at this particular time is a scammer, I repeat - a scammer. Granted, many of these have the most wonderful and lofty intentions in mind and truly want you to "get rich" alongside them but I can assure you they have (1) no idea what they are talking about, (2) are oblivious to what is coming (both to the ultimate upside and down), and (3) are most certainly getting scammed themselves. Some of these individuals are blatant and malicious, however "blind" they might be to their maliciousness. The most malicious place for crypto scams is, of course, social media: YouTube, Instagram, TikTok, and Reddit. The second worst place is the lips of newcomers who have recently gotten lucky off some doggie coin of which they erroneously believe they are "in early" for "the long term". Other scams can be found in most North Star Ventures-like newsletters that you might be subscribed, most of which are written by some of the most "respected" names in the investing world. These scams can be identified by the likes of, "John D. Stockpicker called [the 2008 Financial Crisis] or [the last Bitcoin bull/bear market] and now thinks XYZ technology stock will be 200x better. Sign-up for his *free* webinar to get the inside scoop." I can assure you that virtually no one called the 2008 crash and even fewer the 2018 crypto bear market, fewer still the 2021 crypto mini bear market this past summer. (It should be noted that I did not foresee that last one either, or at least did not call it correctly.) Sure, most altcoins at the tail end of the bull run will perform astonishingly well. But this will only engender more risk-taking and ridiculous forms of speculation, so any paper gains that one might think they have accreted are guaranteed to evaporate faster than they were accumulated. It goes against human nature and our inborn herd-like mentality to sell when the candle is green (going up) and to buy when the candle is red (going down), the same as it is exceedingly rare to witness a world-class athlete retire after a Super Bowl championship, a heavyweight title, or a Master's Tournament victory. No, most end their careers because of injuries and old age, usually in shame to their former glory. The classical Greeks called this inescapable inclination of man "tragedy" and proceeded to build their entire aesthetic conception of the world based upon its unavoidability, whether witnessed in the life of an individual, city-state, nation, or civilization.