You win or you learn.

[DVlog]

Recently I was reading one of the famous books called " Rich Dad and Poor Dad". This quote just changed my thoughts and reduces my depression. Like many others, I myself also made a huge loss in this recent BTC crash.

When I first came to the crypto world I start with only a laptop. This was all I have and I made a good amount of money because of the last bull season. But because of poor money management and lack of experience, I took a big amount of loss too. I do make some losses but the lesson learned is priceless.

1. Money management is very important. It is better to have some plan than no plan.
2. Opportunity will come again and again so do not FOMO.
3. Anything could go to zero no matter how big the project is(Luna disaster).

Now I know how cash circulates into the crypto markets. I know fundamentals are the most important part of a project. I again could do mistakes in the next bull season but I will be more mature than to handle the situation. I do take some losses but the lesson it gave me would save a hell lot of money in the future.

[Don Pedro Dinero]

Your story makes me think you got into trading altcoins, which is very risky.

I don't know what you got out of Rich Dad and Poor Dad, but basically what that book says is that rich people invest for cash flow, giving a lot of importance to real estate investment. The author has great confidence in bitcoin, but I would never lend it out for cash flow, as it means giving up your private keys for a small extra percentage of return. Too much risk for too little return.

Personally, I don't play with altcoins. You seem to be keen to keep playing with them, good luck.

[FrozenBit]

As the title says, I'm not too upset with the current state of things. Although there are some losses in time due to over-optimism, overall what I have gained from this market is as well. It's something that I really appreciate. The lesson that I feel to remember after many years in the market is that let's keep things simple and see the reality more than the problems surrounding it. We can benefit or take risks through the process of exaggerating with each trend, but don't let it dictate the psychology of how the market behaves, and the worst part is that big losses make it difficult for us to overcome.

[bittraffic]

Not easy to learn when you have not failed yet. But when you have failed before, you'll start avoiding doing it again.
You should learn to buy back in the process of learning because this is where you get more profit when you know when to buy back.

If your goal is just to make money, you may not really own something you can't control of. But if your goal is to get more BTC within your personal wallet. You've learned. I think I heard this from Max Kaiser.

[Eternad]

I’m a fan of that book too and I can relate on your experience. I remember when I start in Bitcoin and doing faucet and revshare, I don't have anything except my girlfriend laptop that lend me every weekends when we have no class, I’m college student at that time and literally broke as fuck because my family is not that reach while I’m studying on a university.

To make the story short, I earn massive profit on 2017 bull run and manage to take profit that I still benefited until now but I lose almost 70% of my original profit due to poor risk management. I admit that it was very easy to purchase shitcoins without doing research if you are joyful on the profit that you get in short term investment. You will just realize how foolish your action when you lose all the money that you earn.

[mm2543363580]

I’m a fan of that book too and I can relate on your experience. I remember when I start in Bitcoin and doing faucet and revshare, I don't have anything except my girlfriend laptop that lend me every weekends when we have no class, I’m college student at that time and literally broke as fuck because my family is not that reach while I’m studying on a university.

To make the story short, I earn massive profit on 2017 bull run and manage to take profit that I still benefited until now but I lose almost 70% of my original profit due to poor risk management. I admit that it was very easy to purchase shitcoins without doing research if you are joyful on the profit that you get in short term investment. You will just realize how foolish your action when you lose all the money that you earn.

This is exactly like the same quote - some people came as blessing and others as lesson.
But there are a very few who actually learn the lesson - other make the same mistakes over and again.

[Darker45]

Everyone of us are facing the same bears right now. All our portfolios' values are falling. If we compare them several months ago, we're indeed having a huge loss. But I actually don't mind this kind of loss. This isn't permanent, after all. I know very well that this will pass. I am a hundred percent sure that the good times will be back sooner or later. So I'm not at all depressed or disappointed or whatever.

Some are saying that in times like this we're led back to the fundamentals and the technology and away from the price. But, to be honest, even if we focus on the price right now, there's really not a big problem. My optimism is not at all lessened. Even if Bitcoin falls all the way to $1,000, I'm sure it is still nearer to $100,000 than 0.

[Fivestar4everMVP]

1. Money management is very important. It is better to have some plan than no plan.

On a lighter mood, there is nobody with no plan, to put it in a more proper English, there is nobody out there without a plan, we all have plans, we either plan to succeed or plan to fail, not having a plan at all is (like we all know) a plan to fail which is still a plan no matter how its looked at  .
To add to all you said, succeeding requires good planning, and also sticking consistently to it while being patient, having patience is same as having a good plan because without patience, one will still end up having several plans that is not working, Making good money in crypto requires good planning, strategic investment plans as well as good patience, most people are always  in a hurry to make money that in their haste, they end up loosing the one they already have and they come back to blame people or the market for their misfortune whereas its their laziness\lack of proper planning as well as research that is the real fault or cause of their problem.

[Gozie51]

Now I know how cash circulates into the crypto markets. I know fundamentals are the most important part of a project. I again could do mistakes in the next bull season but I will be more mature than to handle the situation. I do take some losses but the lesson it gave me would save a hell lot of money in the future.

You didn't make readers know the kind of losses that you took as a result of the bear market, if you traded crypto or you are a hodler. I think hodlers lost more in the bear, not lost actually but reduced value of hodling because the value will rise again (if the hodling is on). Hodlers don't need to panic and sell if they want to regain their value but a trader can lose all you have in bear. So which part got you drained?
Most users here are going through the bear incase no one is alone. If you don't sell at the right time then you face the bear.

[davis196]

The book "Rich dad, poor dad" isn't about trading. AFAIK, it was about buying and selling real estate and gathering more assets, while reducing your liabilities. It was about having a good cashflow and multiple income sources, while trying to reduce your costs. Crypto trading has little to do with this. Of course, Robert Kiyosaki is teaching the good old "failure is a big part of success" common sense stuff. You don't really need this book, in order to know that losing and failing is a big part of life and you can't win all the time. Opportunities come and go and losing or wasting an opportunity shouldn't make you frustrated. Everything can be summarized in one sentence- Put your ego under control and stay humble.

[sovie]

The book "Rich dad, poor dad" isn't about trading. AFAIK, it was about buying and selling real estate and gathering more assets, while reducing your liabilities. It was about having a good cashflow and multiple income sources, while trying to reduce your costs. Crypto trading has little to do with this. Of course, Robert Kiyosaki is teaching the good old "failure is a big part of success" common sense stuff. You don't really need this book, in order to know that losing and failing is a big part of life and you can't win all the time. Opportunities come and go and losing or wasting an opportunity shouldn't make you frustrated. Everything can be summarized in one sentence- Put your ego under control and stay humble.

Sometime a unique idea at the right time hits real hard to the people. Then they work smartly and get a good cash flow in return.
But no doubt luck and hard work so side by side.
Amazon owner started working alone - many started working from their home garage. The idea is to put things inline and work smart to achieve the goals.

[DVlog]

The book "Rich dad, poor dad" isn't about trading. AFAIK, it was about buying and selling real estate and gathering more assets, while reducing your liabilities. It was about having a good cashflow and multiple income sources, while trying to reduce your costs. Crypto trading has little to do with this. Of course, Robert Kiyosaki is teaching the good old "failure is a big part of success" common sense stuff. You don't really need this book, in order to know that losing and failing is a big part of life and you can't win all the time. Opportunities come and go and losing or wasting an opportunity shouldn't make you frustrated. Everything can be summarized in one sentence- Put your ego under control and stay humble.

It is about investing actually not speculations. I know I can not relate this book to crypto but there is some advice that can be followed in every part of our life. I mentioned that book name because that title is from there and which I think is very true. This quote influences my thinking about life and makes my thoughts more positive.

Not only that there is some other quote from that book that changes my thoughts too. Like this one" Those who try to avoid failure avoided success too."  Many times I didn't do some work because of fear of failure which later proved beneficial. I knew these quotes before that failure is the step toward success but it didn't shake my mind that much till I read that again in that book.

Lessons can experience can be learned from anywhere and reprogrammed in other circumstances. So I do not mind gaining knowledge no matter what it is about.

[sunsilk]

I agree with all you've said. Money management is important for someone who earns whether it's big or small. Honestly, it's not all about how big you earn rather, how much you could save.

You're on the right path and that's the correct process that you're taking. It's not an overnight success in earning through crypto and as well as learning from the mistakes that you've made.

Every amount you earn, you have to give importance on it and that's going to make you wiser on how you spend it.

[Ucy]

The truth is that if you are in control you win all the time without losing.  This can only possible in a Perfect World where you actually know things ahead of time and have control over them.

A perfect world exists but is often denied by those living in the imperfect world. It's a World ruled by the CREATOR of all things,and it exists on Earth.

[bitgov]

The truth is that if you are in control you win all the time without losing.  This can only possible in a Perfect World where you actually know things ahead of time and have control over them.

A perfect world exists but is often denied by those living in the imperfect world. It's a World ruled by the CREATOR of all things,and it exists on Earth.

We cannot change the world politics neither we can expect anything from our government. The only thing we can do is to earn money and have a good living. Rather than looking for help. Regarding the OP - we can always pray to God to save us from the ill of the world.

[Minecache]

1. Money management is very important. It is better to have some plan than no plan.

Having a plan and managing capital is key to success in any financial market. If you do not have a plan and do not manage your capital, then you will forever lose.

2. Opportunity will come again and again so do not FOMO.

 

As long as the market exists, the opportunity will always exist, so there is no need to rush for fear of missing out  invest blindly. Another opportunity will always present itself if we do not give up and wait patiently.

[DVlog]

The truth is that if you are in control you win all the time without losing.  This can only possible in a Perfect World where you actually know things ahead of time and have control over them.

A perfect world exists but is often denied by those living in the imperfect world. It's a World ruled by the CREATOR of all things,and it exists on Earth.

Why do we need a perfect world? Those who fear changes complained about the world not being perfect. Changing the world is a hard thing so why don't you pick an easy one. Change yourself you will get a perfect world.

New things are good because they bring more opportunity and knowledge.

[Silberman]

Your story makes me think you got into trading altcoins, which is very risky.

I don't know what you got out of Rich Dad and Poor Dad, but basically what that book says is that rich people invest for cash flow, giving a lot of importance to real estate investment. The author has great confidence in bitcoin, but I would never lend it out for cash flow, as it means giving up your private keys for a small extra percentage of return. Too much risk for too little return.

Personally, I don't play with altcoins. You seem to be keen to keep playing with them, good luck.

That is the kind of impression I got as well, after all he states on his third point that any coin no matter how big can crash and then gives the example of Luna, but this only applies to altcoins, because even if bitcoin can go down very quickly as well it is almost impossible it will go to zero and it will always retain some value no matter how bad things get, so such a statement makes me believe the one that started this tread invested in luna and lost a lot, and now he is wary of every single project in this market.

[Plaguedeath]

Does a laptop isn't enough to start in crypto world? I guess a laptop is already enough if you're not do something risky e.g. installing random software, checking the sources and try anything that will harm your laptop. Also not all people who have Bitcoin is a miner, most of them I believe are just buy it directly on an exchanges.

[Blue King]

Recently I was reading one of the famous books called " Rich Dad and Poor Dad". This quote just changed my thoughts and reduces my depression. Like many others, I myself also made a huge loss in this recent BTC crash.

When I first came to the crypto world I start with only a laptop. This was all I have and I made a good amount of money because of the last bull season. But because of poor money management and lack of experience, I took a big amount of loss too. I do make some losses but the lesson learned is priceless.

1. Money management is very important. It is better to have some plan than no plan.
2. Opportunity will come again and again so do not FOMO.
3. Anything could go to zero no matter how big the project is(Luna disaster).

Now I know how cash circulates into the crypto markets. I know fundamentals are the most important part of a project. I again could do mistakes in the next bull season but I will be more mature than to handle the situation. I do take some losses but the lesson it gave me would save a hell lot of money in the future.

This is how everyone is in cryptocurrency. Because everyone values ​​income more than learning. Those who value learning more than income will win.