03-11-2022, 05:18 PM
Whitepaper isn't enough, You need this kind of dumb luck to make money in Crypto
<!-- SC_OFF --><div class="md"><p>This is the type of dumb luck you need to make money in Crypto, </p> <p>A Reddit user that goes by the name Merkado Barkada said that he had bought 8 bitcoin in 2012 as a gag, at US$9 a pop. As of today, the value of a single bitcoin stands at almost US $39,850</p> <blockquote> <p>[My success] has nothing to do with [me] foreseeing the financial power of Bitcoin—nothing at all, Merkado Barkada said. “I bought it because it was just kind of hilarious as a joke coin. I guess the shitcoin of those days was Bitcoin, and I bought it.</p> </blockquote> <p>This early win influenced his trading style. Because of it, he said he felt he could “suck up quite a bit of loss, without incurring a real loss.” So while he considers himself a “very cautious stock investor,” he also thinks of himself as a “reckless Bitcoin investor” because he doesn’t take crypto as seriously as conventional investments.</p> <blockquote> <p>When my stocks fail or trades bomb, or I have a string of bad trades in actual stocks, I feel physically sick. I feel ill. But when Bitcoin goes down over 30 percent over the course of a few months, I feel nothing. It would be hard to get me to care less</p> </blockquote> <p>Unlike other cryptocurrency traders, he doesn’t rely on whitepapers and project roadmaps. So far, he’s invested US$20,000 into cryptocurrency, and in at least two instances, has invested in a shitcoin—a coin of no inherent value—just for the hell of it. </p> <p>“During one of these stupid frenzies, I had a friend in Japan who said </p> <blockquote> <p>Hey, there’s a stupid dog coin that’s a copy of Dogecoin. Maybe you should buy it,’” Merkado Barkada said, referencing the “meme coin” Shiba Inu, which some consider to be a shitcoin. And so he invested about US$3,000 into it. Its value rose a month later, so he sold everything and made US$23,000.</p> </blockquote> <p>So while some think there’s a rhyme and reason to crypto investment success, Merkado Barkada’s experience shows that sometimes, you just get lucky.</p> <p>“I’ve super benefitted from dumb, stupid luck and continuing to invest in a self-aware, reckless manner,” he said. </p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Acceptable_Novel8200"> /u/Acceptable_Novel8200 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/tbok08/whitepaper_isnt_enough_you_need_this_kind_of_dumb/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/tbok08/whitepaper_isnt_enough_you_need_this_kind_of_dumb/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>This is the type of dumb luck you need to make money in Crypto, </p> <p>A Reddit user that goes by the name Merkado Barkada said that he had bought 8 bitcoin in 2012 as a gag, at US$9 a pop. As of today, the value of a single bitcoin stands at almost US $39,850</p> <blockquote> <p>[My success] has nothing to do with [me] foreseeing the financial power of Bitcoin—nothing at all, Merkado Barkada said. “I bought it because it was just kind of hilarious as a joke coin. I guess the shitcoin of those days was Bitcoin, and I bought it.</p> </blockquote> <p>This early win influenced his trading style. Because of it, he said he felt he could “suck up quite a bit of loss, without incurring a real loss.” So while he considers himself a “very cautious stock investor,” he also thinks of himself as a “reckless Bitcoin investor” because he doesn’t take crypto as seriously as conventional investments.</p> <blockquote> <p>When my stocks fail or trades bomb, or I have a string of bad trades in actual stocks, I feel physically sick. I feel ill. But when Bitcoin goes down over 30 percent over the course of a few months, I feel nothing. It would be hard to get me to care less</p> </blockquote> <p>Unlike other cryptocurrency traders, he doesn’t rely on whitepapers and project roadmaps. So far, he’s invested US$20,000 into cryptocurrency, and in at least two instances, has invested in a shitcoin—a coin of no inherent value—just for the hell of it. </p> <p>“During one of these stupid frenzies, I had a friend in Japan who said </p> <blockquote> <p>Hey, there’s a stupid dog coin that’s a copy of Dogecoin. Maybe you should buy it,’” Merkado Barkada said, referencing the “meme coin” Shiba Inu, which some consider to be a shitcoin. And so he invested about US$3,000 into it. Its value rose a month later, so he sold everything and made US$23,000.</p> </blockquote> <p>So while some think there’s a rhyme and reason to crypto investment success, Merkado Barkada’s experience shows that sometimes, you just get lucky.</p> <p>“I’ve super benefitted from dumb, stupid luck and continuing to invest in a self-aware, reckless manner,” he said. </p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Acceptable_Novel8200"> /u/Acceptable_Novel8200 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/tbok08/whitepaper_isnt_enough_you_need_this_kind_of_dumb/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/tbok08/whitepaper_isnt_enough_you_need_this_kind_of_dumb/">[comments]</a></span>Kind Regards R