A Little Bit Of Patience

about 2 years ago

Goes a long way...

We've discussed a number of times how the crypto space is still in its infancy. Roughly thirteen years have passed and we have already witnessed spectacular growth. The early bird catches the worm they say, and considering that the vast majority of internet users are still watching from the sidelines, I think it's safe to say that it's still early in the game.

Not to mention the fact that the revolutionary technology behind it all may very well hold the solutions to some of the biggest problems that have been stalling our development at a collective level. More transparency, less corruption, higher efficiency, faster advancement. Numbers don't lie.

Anyway, I was just casually wasting my time on Twitter again, when I stumbled upon this:

_{_{Source: Whale Alert}}

Patience.
This person has lots of it.

How is that even possible?

Seriously though, it's beyond me how anyone can keep holding assets that have already provided 1,000x returns. This champ thinks otherwise though, and maybe that explains why it's them and not me moving around thousands of ETH tokens like it's nothing in 2022.

Already sitting on 2,000x gains and still decides to move half of it. The best part is we can't even be sure whether he intends to sell those tokens or not. Maybe he just wanted to make sure he still remembers his seed phrase.

Or maybe he has already sold thousands of ETH tokens using different addresses. Nobody knows.

_{_{Souce: Etherscan.io}}

What we do know is he bought those 1,947 ETH tokens more than six years ago and never moved them again until 70 minutes before the creation of this blog post. Turned $2.33k into $5.16M in a matter of 2,372 days like a boss, and even after such a big W, it looks like he thinks there's still a lot of room for growth.

We still don't know where he bought his balls of steel though. Wait, did I just assume their gender?

My takeaway.

Two very important lessons here:

Never chase quick riches.
Never invest money you actually need.

Sure, hitting the lottery must be a wonderful feeling, and no one would say no to massive short-term gains. And while it's possible to enter the first candle on the next BSC gem and triple your money in just a couple hours, the odds are that you will develop unhealthy habits which will cost a lot down the road, even if you emerge victorious after your first couple of tries.

On the contrary, investing in crypto projects that aim to solve real problems, and therefore have real value, will pay off in the long run one way or another.

It is also very important to never invest money you care about. There's just no way on Earth you will be able to hold during the red times if your rent money is at stake. I'm 100% convinced that investors who panic sell are the overexposed ones. I have no doubt that these folks rarely make money from trading in the first place.

The worst part is that the very same people are the ones who will never get to taste that sweet 1,000x flavour.

Moral of the story.

The bottom line is that in order to play it right you have to play it safe. Luck does not exist, so never rely on it. I will pick slow and steady growth over lottery tickets any day of the week.

That sums it all up for now.