I’m Not Betting My Life Savings on Magic Internet Money, and Neither Should You
John has been riding the high of the crypto craze for years now.
He’s constantly going on about how he’s invested over $100k in Bitcoin, Ethereum, Dogecoin — you name it. And how I need to dump all my savings into crypto before I miss out on the next Bitcoin-style jackpot.
Yeah, no thanks. I’ll pass.
Don’t get me wrong.
I’m bullish on blockchain and have dabbled in crypto myself. But I’ve only invested an amount I’m comfortable losing completely. An amount that if my crypto wallet got hacked tomorrow and the coins vanished into the digital ether, I’d just shrug and move on with my life, not plunge into depression or panic sell my car to recoup the losses.
John, on the other hand, is the epitome of FOMO (fear of missing out) when it comes to crypto investing. He’s thrown caution to the wind and bet the farm on hitting it big. I guess that’s fine if you’re a maverick-type who has money to burn. But for most of us average joes, that’s just reckless.
I know myself.
If I put any serious money into something as volatile as crypto, I’d be a nervous wreck, obsessively tracking coin prices and news 24/7. I’d turn into one of those people who…
