jack

My first cycle was 2017. I had a prescription for vyvanse and I put it to good use no-lifing the whole run on discord 24/7. I had no idea "crypto twitter" existed back then, but I do now, and I've come to tell you a story about how I'm totally delusional. Bitcoin peaked at 20k. By that point my portfolio was so big I couldn't even comprehend it, really. The most expensive thing I'd bought before in my life was my car, which cost 9k. My initial Coinbase deposit was $1200. Now I was sitting on enough to cover rent till I died. Not that I'd ever considered taking money out of the market. Why sell the future of finance right before it made you another 100x? After that peak, bitcoin crashed 40% to 12k. My portfolio was mostly altcoins, which nuked down more like 80%. I was confused - the coins went up because the tech was good, right? Everyone was writing articles about that. How could they suddenly become bad? Over the next few days, things bounced back. We hit 17k again and my portfolio was back to 85% of its all-time-high. I dismissed the earlier decimation as a weird fluke, some sort of market error. With our coins back near highs again, I was talking about new plays with friends in a discord call when an older guy joined. He was a bitcoin miner who'd been in the game since basically day 1. "Guys, sell everything and don't even think the word 'crypto' for another 18 months. I don't wanna see you do what I did in 2013." We asked him what he meant - "cycle?" Did he not understand society was being reorganized around blockchain technology? Did he think things could just got back to how they were before? We had 100 questions. "I'll never stop mining bitcoin. It'll come back. All this other shit - vertcoin, NULS? Going to 0. Actual 0. You will have to pay people to take it off your hands, and those people will laugh at you for buying it in the first place. Sell all that shit, set a timer for 12 months and when the alarm goes off you dump every cent you have back in bitcoin." We wished him the best and thanked him for his advice, but nobody listened. He left the call and we agreed he was just too old to understand the revolutionary technology our altcoins were based on. Over the next month, I proceeded to lose enough money it could've bought several houses. I didn't even get liquidated trading, just holding coins that went down so fast it was basically the same as liquidation. Day after day after day. It was incomprehensible to me. I'd never seen the charts do that before. Support levels stopped mattering entirely, nothing bounced except bitcoin - and the bounces got sold into like mad, until they wicked the green daily back red and sent us even lower. There wasn't a single buyer left. Gradually, people from the discord stopped logging on. At the end it was just me and this totally insane guy. One time while he was saying something totally bizarre, I realized me being the last one sticking around with him probably market me as nuts too. An unpleasant thought, but quite hard to deny at this point. Bagholding multiple fake internet coins down 99% from their peaks is not normal behavior. After accepting I was delusional, I sold my alts into bitcoin and sent it somewhere to forget about. This next cycle, you're gonna be accosted by an infinite swarm of people exactly like me from 2017. You might even be one yourself. They will tell you we've hit escape velocity, that we've created a new paradigm, that we've been institutionally adopted. They're sure that rehypothecation of digital assets brings permanent liquidity to the space and makes it impossible to go down ever again. They'll say shit we can't even imagine right now and they'll believe it completely. Lots do it their first cycle. When you enter a market that's going up only for over a year straight, it is literally impossible for you to imagine it being any other way. I have a few goals, based on this experience. I think they're probably decent for most other people too 1) Do not be 2017 Lukas. We go down later. It's not different now and it never will be. 2) Do not let your friends be 2017 Lukas. Most people will not be okay losing 98% of their net worth in one month. They will hate crypto and everyone they associate with it forever. This includes you, to a degree. 3) Make your friends take profits. They don't have to dump the whole stack, but just a little bit to get them used to the idea of selling. Last cycle I bought my 2 best friends AUGs. If I ever again refuse to take profits on a 50x, they know to come point the guns at me. They hope it won't come to that, but they also understand I'd prefer to be shot in my right arm or leg if it does. 3) Identify the Discord Bitcoin Wizards and obey their commands. There will be at least one point this cycle where a person says something to you that sounds completely retarded, but it'll actually be God himself speaking to you through that person's vessel. You have to seriously consider this possibility every time you hear something new. Accurately identifying and obeying the wizards will make you more money than every thread on airdrop farming combined. 4) Exit with at least 50% of your portfolio all-time high. This sounds like the easiest thing on the list but somehow it's 1000x more difficult than locating wizards disguised as retarded people. Good luck. I love you all and we are going so much higher