Want to lose money in crypto? Ignore these 3 tips. Want to flourish? INTERNALIZE them ASAP!

Information is everywhere - Tv, news sites, twitter, facebook, youtube, telegram, whatsapp, steemit - you name it... As is characteristic of our age, we are drowning in information. And Too Much Information (TMI) is of course overwhelming.
So what is the solution?
First things first, know yourself.

What I mean by that is, realize whether you are an Investor, Trader or Gambler.

or rather:

1. Know who the f*ck you are (or want to be) - I, T or a G?

To make that hard decision, you might have to look in other places, or simply "flow" through all the stages G => T => I and see what suits you best - suits meaning, excites you, makes you happy or makes you more money or a combination of the above; i.e. it is a personal formula that you need to figure out for your own case (personality, stage of life, free time you have or want to have etc).

First, let's have a look at some of the "hobbies" that the richest people in the world are indulging in to make money and earn the titles of "the richest men on planet earth" (at least until Elon Musk realizes his plan of populating Mars):

(Stats courtesy of Forbes Magazine from this article)

As you can see, the list has no "Traders"or "Gamblers" in it - there of course are some very rich men in the gambling industry (and in trading too for sure), but none of them are really gamblers themselves; they simply create platforms for gamblers. In other words, they are entrepreneurs or businessmen.

So...
Now that we have sort of a perspective on the available options and their potential best case scenarios from profitability perspective, let's move on to step 2.

2. How to know who the f*ck you want to be - I, T or a G?

I happen to be "reading" (actually listening an audiobook) on Warren Buffet's life called "The Snowball":

A lengthy book (just under 37 hours) - if not for Tai Lopez would not be excited to listen to it at all LOL 😄
It is an amazing book, if you are patient and willing to learn from between the numerous lines on a legendary person's life. But anyway, my point was to mention that when you get to know Warren Buffet a bit you realize 3 astounding things:

(1.) He spends most of his "work day" reading - newspapers, reports, books and listening to news.

Here is little excerpt on it (courtesy of Business Insider from this article)

(2.) He is obsessed about the people driving companies and not just the companies themselves

What does this means?
As the old saying in sales goes:

"People buy you before they buy your products."

---

In various stories of his investments, you realize that the most important thing to Buffet is dealing with trustworthy people that he admires; people that have the integrity, spirit and the personality that he would be willing to invest in. Company reports and stats actually come either second or hand in hand.

Realizing the above, It dawned upon me that the same applies to the crypto projects and the people behind them! It's just a new technology, but the principles of what really matters in this world are timeless and will never change. But don't trust my conclusions or Mr. Buffet's wisdom - learn from the best and research stuff for yourself. Let's do a quick test together :)

Let's See:
do you know of any company that is really successful, a company that you admire, admire their vision, their results and/or their products, without knowing or caring about the person/people behind it?

If you happen to be uninitiated in the business world like I myself was until recently, just google the company name you admire and learn about its CEO, the team etc - watch some videos of the leader(s) on youtube (or should I say D.Tube?) and see how you feel about them.

Now, do you think that explains why the company is such a success?

I mean, if Elon Musk, Jeff Bezos, Mark Zukerberg or Pavel Durov where to come up with an ICO (Initial Coin Community Offering), would not you bet that it would probably be a success and run to invest in it?
Exactly! Now you realize why? ;)

(3.) He is willing to wait years to invest into the stock he wants at the "right", "Buffet price" and hold literally forever (unless he decides to sell off in special cases for various educated reasons - that's why he reads so much!)

And this leads us to the basics of investment/trading:

Buy low - Sell "HIGH"

We might not always have the nerve to wait for the best time to invest, but the reality is that, "what goes up, must come down"; for example, one day - one day! Bitcoin might again be worth less than 1$. (just kidding, let's hope that day will never come, but who knows - I would get quite a bunch of them for me then hehe 😁 )

Let's see if Bitcoin passes the "Buffet test" we just learned

1. Have you read about it? Do you know what it is, how it works and why it is so coveted? [V]
2. Do you know who Satoshi Nakamoto is? [X]
3. Did you buy low and keep it or sell high? [X]

---

Shit! seems like the "Buffet test" is not really working with Bitcoin do you have an idea why?
LOL Maybe that's why [he dislikes it so much]... Hehe just kidding :)

Buffet actually does not stand technology - hardly uses a computer, missed on Intel, Amazon, Google, avoided Microsoft even though liked Bill Gates a great deal and was his fatherly mentor in business (Buffet actually later agreed to buy 100 MSFT stocks out of politeness, which was like a tiny little drop of water for him), ignored Tesla and so on and so forth.

So he is actually true to himself - he does not even look into what he does not understand or care about. Although he has admitted being sorry for not investing in Amazon, Google and other super successful counterparts, he was not interested or believe in them in the first place. So no wonder he does not understand or care about bitcoin. As he stated on CNBC:

Which I personally find very natural to hear from a man like Warren Buffet. Bitcoin is hardcore, revolutionary technology, is not a company and was started by Satoshi Nakamoto who nobody knows.
Pass.

"Buffet Test" for EOS

Let's try something else that I personally very much like and believe in - EOS:

1. Have you read about it? Do you know why it could possibly be one of the best investments of our time? [V]
2. Do you know who Dan Larimer is? [V]
3. Did you buy low and keep it [VX]

My answers

---

1. Yes and still am learning about it. Shout out to @theawakenment for great youtube content about EOS

2. I find Dan Larimer a guy of amazing values and a brilliant mind that is luckily old enough to stay balanced and not let the glory "spoil his soul".
   Shout out to @dantheman for being so humble and hardworking and obviously super smart.

I find him currently among the only few that understand human nature, psychology, politics and computer science well enough to lead the development of a truly functional and even revolutionary Everything Operating System (my take on the acronym "EOS").
btw I learned the most about Dan through this interview:

As for 3., well not low enough I would say... Mainly between 7-10$ - I wish I had been there when the price was 0.5$ or at least 3-5$ for a token of EOS.... But, wishing and hoping does not help much, so dollar cost averaging and keeping up-to-date should do the trick.

Also, luckily we have "Black Fridays" in the crypto market every now and then that enable us to buy "cheap"; yeah, thats' when the market is "bleeding" with red and the newbies are sad or even worse, panic-selling because the world is "crashing" - a great opportunity for the "veterans" and the smart money to get the good stuff cheap.

Not many people have realized the true potential of EOS yet, but with Everipedia being developed on EOS and a bunch of Ethereum based projects (with WePower which I really like, among them) secretly or openly planning their move to EOS using ETH to EOS relay code: (

) ...people should soon realize "who is who" and how potentially precious EOS can become for the blockchain/crypto space (and as an investment opportunity of course).

---

Now take the projects you like, the companies you admire and do the "Buffet Test" for them - ask yourself those 3 questions and answer them honestly.
That will help you figure out whether you are effectively using an investor, or a gambler attitude right now about those projects.

Hopefully this post has made you realize the importance of knowing yourself and the people behind the projects you invest in, as otherwise, you are by definition gambling, which is not what you should be doing in crypto if you really want to _earn yourself a smarter mind, a better quality of life and a higher level of fulfillment.

Share in the comments below the projects that you are the most passionate about and which pass the "Buffet Test" - this can spread the word for the really good ones and give them a better chance for becoming valuable successes to humanity. Yalla, let's put some real "proof of work" in the researches we do ☺

Best regards!

P.S. It is kind of obvious, but let's make it even more so:

Whatever I wrote in this post is a collection of my own opinions and deductions based on my personal research (based on the research of others and so on and so forth) - it is a good practice to make a research of your own and get opinions of your own before making any decision. None of the above is financial advice, we are just sharing information here, so thanks for reading guys and girls and hope to see you on my post again! 😘