"The Scumbags and Infatuated Lovers in the Crypto World"

About two years ago, I wrote an article titled "Recognize the Situation and Give Up on Fantasies." It was a self-warning after I lost money on a project I was optimistic about. This also led me to decisively cut losses when I lost 30% on another project in the same NFT space when I saw the market turning bad.

As time went on, I became more resolute in cutting losses. For every coin I lost on, I didn't care how much I had spent to buy it or how much I was currently down. If I no longer loved it, I would let it go; there would always be another that would behave better.

When I decided to leave, I only looked at how much it was still worth. I asked myself if I still wanted that money, and thinking this way made me feel much better.

For example, if I bought a meme coin that I was optimistic about but didn't sell for various reasons, when I finally decided to sell, the coin had dropped 70%. If I had invested 100,000 USDT and it was now worth only 30,000 USDT, I would just tell myself: "Oh, there's still 30,000 USDT here. If I don't sell, it will go to zero. Now I'm getting 30,000 USDT for free; how great is that?"

The psychological victory method of self-comfort is quite effective. When I turn the remaining value into USDT, I feel much better—can't help but want to sing a tune: "Life is just starting over."

Recently, the market has been poor, and I noticed that most people seem to belong to the type that is reluctant to cut losses. Many can hold onto a worthless coin for half a year, and there are still many holding onto some ancient VC coins, waiting for an altcoin bull market—while the project teams have long since given up.

Besides Cutting Losses, Consider Opportunity Cost

Whether holding coins or USDT, they can actually be converted into money. This money is our principal, which we use to participate in various opportunities. While you are stuck in a worthless coin, you are also losing the chance to participate in quality opportunities.

I saw a group member reflecting after the Trump incident, saying that they missed out because they were stuck in some AI coin or meme coin and had nothing to cut. They felt it was a pity.

Returning to the essence, it doesn't matter what it is, whether you are losing or gaining; everything is just your principal for participating in the market.

Selling at a loss is not scary; as long as it’s a profit, it’s the right decision.

Faith and Holding Coins

Holding coins is as difficult as being celibate. The word "holding" actually carries opportunity cost. Although most people might find that holding BTC for a few years is better than messing around, saying this is easy, but it’s not very practical. Without sufficient knowledge and experience, how can one hold on? But those who don’t mess around also miss the opportunity to form that knowledge.

Look at the various coin hoarders; their hearts are like iron and stone. Most of them, when asked, have experienced the pain of not being able to buy back and have already suffered losses.

So, experiencing more is not a bad thing, but remember not to indulge in fantasies.

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