$Abomination
Bronze
- Joined
- Sep 11, 2024
- Posts
- 353
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There are 3 elements to success in crypto:
Patience
Conviction
IQ
Patience allows your assets to grow exponentially so you can become wealthy. Conviction is required to avoid getting swayed by FUD, distractions, or short term price downturns. And IQ is required to pick the right projects.
Lacking just 1 of these 3 criterion can be devastating.
If you have conviction and IQ, but lack patience. You will succumb to things like day trading, meme coins trading, and leverage trading in an attempt to get rich faster than you're supposed to, and this changes everything. Because cryptocurrencies have a mathematical advantage against fiat, so time is on your side. The aforementioned activities flips that and makes it to where the longer you do this, the more likely you're to be in red.
If you have IQ and patience, but lack conviction, you will succumb to the comfort of being a Bitcoin Maxi. Why is this bad? Because you're not getting rich, you're just keeping up with inflation. To achieve riches you have to take risk for the higher returns.
If you have patience and conviction, but lack IQ? This means you'll end up picking the wrong projects, and worst case scenario become an XRP retard that is waiting for 7 years for the "God candle" that's never coming.
Patience can be exercised.
Conviction can be exercised.
IQ is inherently genetic. You either have it or you don't, so that's the determining factor - and lacking this one also puts you at the worst position.
Patience
Conviction
IQ
Patience allows your assets to grow exponentially so you can become wealthy. Conviction is required to avoid getting swayed by FUD, distractions, or short term price downturns. And IQ is required to pick the right projects.
Lacking just 1 of these 3 criterion can be devastating.
If you have conviction and IQ, but lack patience. You will succumb to things like day trading, meme coins trading, and leverage trading in an attempt to get rich faster than you're supposed to, and this changes everything. Because cryptocurrencies have a mathematical advantage against fiat, so time is on your side. The aforementioned activities flips that and makes it to where the longer you do this, the more likely you're to be in red.
If you have IQ and patience, but lack conviction, you will succumb to the comfort of being a Bitcoin Maxi. Why is this bad? Because you're not getting rich, you're just keeping up with inflation. To achieve riches you have to take risk for the higher returns.
If you have patience and conviction, but lack IQ? This means you'll end up picking the wrong projects, and worst case scenario become an XRP retard that is waiting for 7 years for the "God candle" that's never coming.
Patience can be exercised.
Conviction can be exercised.
IQ is inherently genetic. You either have it or you don't, so that's the determining factor - and lacking this one also puts you at the worst position.
