Hello! Today, Monday, I will explain how to end up poor with crypto in your portfolio.
First, if you are already poor, let's say your assets in Fiat are $5,000 and a cryptobro convinces you to invest, for example, in #LUNCđ„ and you do it, even though you now have 40 million $LUNC tokens with the fantasy of it rising to $1 ( you are still poor), and experience tells us that you will lose at least half.
Because? for psychology of the poor; Let's see, I'll explain to you:
You will not tolerate price drops, because observing that your 5K can be worth 1K from one week to the next with pending expenses and debts in real life, is not tolerated by a brain educated in necessity.
So, when your equity recovers to 2.5K you will leave token $LUNC still losing to use the remaining Fiat money to eat or pay for something real.
If, on the other hand, you have managed to endure the roller coaster đą of descents, and #LUNCđ„ is headed to the moon. You will sell at double price x2, you would never endure a x10, nor a x100, nor a fanciful x1000.
To withstand that pressure in free climbing, you have to have plenty of money. Or having forgotten that you had that token (because you had extra money, to forget about money).
That is the reason why the first owners of thousands of #BTCđȘïž exchanged them for some pizzas and did not hold them for 15 years.
So the lesson for poor people is, first try to escape from need and then think about investments, never the other way around.
Investing what you DON'T need is the first golden rule for those who have gold and no holes in their pockets to invest.
Being born poor is a misfortune, but that doesn't have to make you stupid. You can be happy without wealth and overcome your needs by not having them, or by having the minimum. âïž
Good bullish week!
Ciao!
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#WLDđđ in May $15 (predictionđź) and remember to do the opposite of what they publishđ
