Hey, friends!
Christmas is here, and there was no ETF approval before January. Some rumors about things might happen already January 3rd, so there will be sleepless nights again soon. But first, take some days off (if you can) to enjoy some time with family and friends.
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The bet on yourself
I started to think of this the other day. About how far Iโve come, and that I am grateful about where I am.
Itโs almost 3 years now since I quit my 9-5.
3 years where Iโve been betting on myself.
It was scary at first, and I remember 5 months into it I almost gave up and actually called my old boss to ask if there were any opportunities over the summer. I took this call to make sure I had a safety net if things went badly. It was not a proud moment, but I was scared.
Luckily I didnโt return, because crypto was on its way back again in August. And after watching Ethereum dancing around $2k all summer (ironically the price is the same now), I went all in on $ETH only to sell a couple of months later at around $4k. Then I found Terra, Fantom, and $AVAX, and the degen DeFi days were on. Safe to say I made enough money to not call up my boss again.
This was a bet on myself, and if I didnโt have time to focus on crypto, DeFi, and talking to people during this time there is no way I would have ended up in this good position. It wouldnโt be possible with a 9-5 job.
It ended well. Could it have gone wrong? Hell, yes. But it was nevertheless a bet on myself. It was a risk I took, and I accepted the consequences.
People who donโt bet on themselves are strictly in the business of minimizing the downside.
Theyโre always looking for the safest way to do the least amount. They can never go further than their lowest ambitions.
Most people are terrified of doing anything where there isnโt a guaranteed outcome. Eg. 9-5 job โ> you get a fixed guaranteed salary at the end of the month.
The problem is that the most valuable things in life all have an element of uncertainty in them. You take calculated risks that minimize what you can lose but maximize what you can gain. An example of this is crypto trading.
A scarcity mindset is a direct result of wanting to maintain your current position instead of growing what you have.
Youโre playing the whole game of life not to lose rather than to win. A fixed mindset is the direct result of a scarcity mindset.
Because if you did bet on yourself, then youโd realize that you live in a world of endless opportunity and all that it requires is the willingness to bet on your abilities, talents, and drive.
Ultimately what betting on yourself comes down toโabsolute control over your destiny.
Opportunities are never hard to find, itโs just that you see a lot more of them when youโve played the game before. Of course, this is easy for me to say now, but honestly, I wonder why I didnโt quit earlier.
I think if I didnโt do things in crypto, I would start up something within longevity (think vitamins, minerals, Brian Johnson blueprint, bla blaโฆetc.)
Example life of someone who achievesย success: failure, new failure (but learned something), another failure (improved), new fail (almost succeeded), success
Example of life of mostย people: traditional route โ> traditional results
When people see any level of success their initial thoughts are often: โOh youโre so lucky youโre good at cryptoโ, โOh youโre so lucky youโve started some businesses that printed moneyโ, โYou travel anytime you want? What I would give to have your life!โ.
The truth is, all your decisions in the past have answered exactly what you are willing to give. It is often not much, which leads to you not having your desired life.
See, if you take the standard road, how can you possibly think you will get anything but standard results?
People wait to be told what to do, not understanding the real upside or downside of the route theyโre choosing. They never learn to think, and because of that blindly follow whatever advice is given to them, even if itโs crappy advice.
When youโre betting on yourself your upside is uncapped.
This makes all the difference. When youโre not betting on yourself (job, not investing, etcโฆ) your upside is ridiculously capped.
If you do a extremely good job one year at your 9-5 job, and you ask your boss for 10x your salary, what do you think theyโre going to say? When they get done laughing if they even bother to give you a response theyโll tell you โOf course notโ.
The most likely outcome is that you get a 5-10% salary increase. Meanwhile if you owned the company (by working on your own) and you did a 10x in revenue increaseโฆyou get the point.
Even when you win at the safe routeโฆ are you reallyย winning?
You just get the expected result of a relatively low upside. You may lose less, but you often lose by default as a byproduct of never even giving yourself a chance to win the game.
A tweet from 2 year ago, but still as relevant today:
Just to end this:
Investing in crypto can be a life changing bet, but betting on yourself and your is the highest likelihood for a lifelong 100x return with almost zero downside.
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The bet on oneself is the true asymmetrical bet. Thank you for such an enlightening piece ser.
Merry Christmas and happy holidays to you and your family sir!! Very nice piece of article