Luck And Crypto

I was having a little chat with one of my neighbors today and as usual, we like to discuss stuff that doesn’t make sense at times, it’s all surface stuff like most conversations today.

Anyway, our talk revolves a bit around money—which is rarely talked about and to me, this is considered top-notch conversation. It matters to me, more than him, but I guess he just likes to go with the flow like I also do whenever he’s talking about politics, movies, and fashion trends.

Not that I don’t like these things, but I just consider them too much a distraction to even spend more than 5 mins having a discussion about why a nation-state's number one citizen isn’t helping out with my bills or giving out free bread to those with none.

TBH, it’s sickening to see how much we’ve got to rely on the governmental body to not even bother about making our own bread. Or make our own decision.

So to me, spending time thinking about such a discussion is like talking about why we can’t buy the bread discounted—if they won’t give it out for free.

Why think that when you can own a bakery—but I guess that’s going to be a buzz for another day

Back to our money-talking fact, it’s a crypto talk. What led to the unusual conversation was how a friend of his friend got to be lucky in buying ETH some years ago but got his CEX account locked and only was able to get it reactivated recently (luckily) making him to sell a few of it with decent gains.

This person got on a spending spree and his friend of friends got to know the story behind his recent spending spree and changes in his lifestyle.

That didn’t bother me, I think I’ve heard that story too often and just got bored with such emotional spending (which I’m trying to eliminate from my lifestyle), but what did catch my attention was how he said the person was lucky to be able to get such returns.

This got me thinking about how the multitude perceives crypto success stories today.

I think it’s common among the public to presume that crypto investors' success stories are unexpected. To them (and many others), crypto is giving out free money.

And while he’s well aware I’m a crypto fan, what he doesn’t know about Is that I’m not trying to become lucky or in search for that life-changing money with crypto. But instead I want to be more focused on the finance part, it's like paying attention to the stock market before the boom.

You see, most of those who obtain life-changing money without prior knowledge about investing (as seen with most lottery winners) is that—they eventually run out.

This happens (times without numbers) because many who are searching for a life-changing money today are not doing so to increase their level in the financial game, but simply to increase their spending.

I’ve done this—times without numbers (too), and I’ve been back to getting unlucky after being lucky for a while.

I didn't mean to imply that this friend of his friend will become unlucky, but I've seen this behavior many times, and it often leads to one road. And this road is what my neighbor is also trying to embark on, he also wants to get involved with this life-changing money giver called crypto.

It's hilarious whenever he's talking about why he’ll buy with his first millions. And while I've never attained that height before, I think with my losses and winnings, I'm keeping my first millions for some nice APR. I'm betting some millions in HBD won't be bad even if the APR gets lowered eventually someday. Anything around 10-12% is always good.

But this behavior isn't practiced by many today, and it tells on their life that they only focus on increasing their lifestyle when they have more money.

To better put it—it’s a superpower to live below your means and not only that, but to also keep increasing your assets while managing your spending. This is finance 101, but many of us have failed at following this simple subject.

My friend really wasn’t going to talk about this side of the subject with me because he’s not even aware of how this is affecting him and his friend of friend who just got lucky.

What I often tell myself is that I can keep creating luck and when I do, it's best to not lose such an opportunity because while I might keep at it, I might not reach that height of luck again.

But then my neighbor has been pressing me on how & what coin to buy for his luck to come. I haven't given him an asset yet because I honestly don't have one because……

Even though luck plays a major part in the crypto space (and in life), it's important to remember that it’s not all, in this space, that do get lucky.

Sometimes life just gets in the way and you just hop on the wrong train. While my neighbor is too eager to hop on a train, I'm worried he might get rekd with this behavior and eventually get to blame me for it. So for now, my mouth is sealed until I'm sure I have something luckish for him to invest in because while his friends got lucky, he's forgetting the fact that there are some risks involved, and he's susceptible to going penniless in this space than it is for him to get lucky.

What is your advice for this type of friend, neighbor, or pal, I'm sure you have one of more of them around you and you're even scared to get them into the crypto world because it might add to their problem than it will solve because tbh crypto has a way of toying with you and your emotions if you don't have a tough skin...so I'm hoping to hear your honest opinions on this subject and about spending, luck, and crypto in general…

Until next time