Crypto Currency is Violating All Fastlane Commandments

[Perry Rico]

Hi Guys,

I haven't been in the forum for a while. Got busy for sometime.

I am curious. I've met people that surrounds me who are into:
1. Cryptocurrency trading
2. Initial Coin Offering
3. BitCoin investment

Those three ventures above had violated all the 5 commandments of fastlane. However; based from their feedback these guys were earning significant sum.

My questions are:
1. What do you guys think about this?
2. Is there such thing as an outlier?
As for me, I plan to stick with my gun and avoid the bandwagon of crypto currency trading and investing.

Please share your thoughts guys

 

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[SquatchMan]

I don't know about others, but I only invest money I can afford to lose into cryptocurrency trading. Trading/speculating is not my main means of making money.

 

[daru]

Hi Guys,

I haven't been in the forum for a while. Got busy for sometime.

I am curious. I've met people that surrounds me who are into:
1. Cryptocurrency trading
2. Initial Coin Offering
3. BitCoin investment

Those three ventures above had violated all the 5 commandments of fastlane. However; based from their feedback these guys were earning significant sum.

My questions are:
1. What do you guys think about this?
2. Is there such thing as an outlier?
As for me, I plan to stick with my gun and avoid the bandwagon of crypto currency trading and investing.

Please share your thoughts guys

1.
So they made money. Do you know anybody that lost money? Maybe the ones who lost money don't talk about it. Maybe there are biases involved like selection bias (you only see the winners). And how much money did they make and how much did they risk? And finally, those that made money, how much was luck?
OK. So crypto has gone up lately so anyone investing pretty much made money. But that's only easy in hindsight. What happens tomorrow? Next month? Next year? Nobody knows. One can speculate and bet whatever they want. But as poster above mentions: "I only invest money I can afford to lose" which is probably wise.
Let's just not predict the future. Why? Because it cannot be done consistently.

2.
I do believe outliers exists. But you can only know that in hindsight. Make your bets on what you are comfortable losing. Don't be a fool.

 

[MidwestLandlord]

I don't know about others, but I only invest money I can afford to lose into cryptocurrency trading. Trading/speculating is not my main means of making money.

This^^^

Crypto is on the money tree side of the fastlane equation NOT the CENTS side.

In other words, wealth acceleration, not wealth building.

Other "traditional" investments are also useful on the money tree side of the equation, again, post-CENTS.

Stocks, bonds, buy and hold real estate, etc.

The confusion comes from the Script teaching people that "investments" are wealth builders when they are not.

Ever play an idle clicker game on your phone? In idle clickers you reset the game with "prestige" and get a 5x multiplier or whatever.

In the beginning that 5x multiplier only multiples a small number. So you 5x, but still don't make much.

But later, a 5x prestige multiplier is 5x-ing a large number and your growth explodes.

It's the same principal with investing. It's a game multiplier essentially.

Make sure you are multiplying a large number.

 

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[AllenCrawley]

Crypto is on the money tree side of the fastlane equation NOT the CENTS side.

Came in here to say the same thing.