Modern Crypto is damaging, negative and spoils people, it has definitely spoiled me.
Remember back in our parents' time - or if you are a Hiver boomer, your time -, where one of the main investment foundations when starting a business or putting money into something was something along the lines of consider that the first few years are for building the business and setting solid foundations, you will only start getting a return on your investment a few years after that, and you will only start generating actual profit after that.
Do you remember hearing that? I sure do, that's how my dad raised me. I am 33 years old and I grew up hearing everything about starting your own business, how to deal with the investment, how to generate profits, how patience was the key... yada yada.
Crypto on the other hand, has spoiled me, it has ruined me forever.
I can never go in and hear about an investment opportunity from a friend or acquaintance without looking at the P&L statements and the one year, five year and ten year forecasts without thinking dude, why would I get a 100% ROI in five years when I can just invest in crypto and get a potential 100x in a year?
I know, I know, I'm actually pretty stupid for thinking like this, and I know I shouldn't have this mindset. Not everything money-related can be compared with crypto gains, and not everyone can invest in crypto. Crypto investing takes away years from your life with every crash and the adrenaline and endorphin you get from a good trade only lasts for a while until your body starts asking for more.
Some people are meant to invest in solid, trustworthy, familiar setups, and that's completely fine. I just don't see myself putting in 50k USD into a friend's music school idea that I am pretty sure will be a huge success and I will 2x my investment in the span of five years. I just can't do that knowing that those 50k can potentially be valued at 500k in that same span of time if I just buy a solid crypto like freaking Ethereum - let's not even get into the intricacies of buying an altcoin with huge upside and more risk like Hive or Leo where my investment could 100x provided the projects deliver.
It's just the way things are nowadays. Why would you invest your life savings into a mortgage or buying some land when you can invest in unicorn-phase startups that could (big could by the way) give you a 1000x return of investment?
In real life it's absolutely normal to wait for YEARS for your investment get just to break even point before you start making any money from it, while in crypto you're a brain damaged loser if you are not 100x your investment in a mere few months.
That's just how the shitcoin casino and the crypto gains makes you think, and we should all avoid it, as hard as it may be.
But you see, this exact mindset is what makes us be reckless and act careless when it comes to assessing a crypto project or a blockchain based token, and it is exactly because of this spoiling that we only look for those boom or bust opportunities. Some people just can't deal with patience, continuity, discipline and patience (yes, I said that twice).
Having a long term mindset might make an investor lose some short term huge gains, but the amount of risk is inversely proportional vs potential value, and most of the times this proportion is just too much, too bananas to be worth it. This long term mindset that makes you miss some huge gains is what makes other investors with more patience and more research is what makes them invest in actual projects with value, potential, use cases and solid foundations. But that requires time.
If you bought DOGE and you became a millionaire you don't deserve it, and for every case like yours there are thousands that went through the exact opposite scenario, and that 1000x from buying (and holding) DOGE means you're an idiot, a stupidly lucky (and filthy rich) idiot, but an idiot nonetheless.
Crypto has spoiled us by making a thing out of this kind of success stories where an idiot gets lucky and makes it. A shitcoin back in 2018 made you 100x those 250 bucks and now every investment you make, you do it with a mindset of short term gains that make up for all your other losses that you acquired by approaching crypto investing with this very same mentality.
DeFi is doing the same. 30% APR? Lame, give me 90% with auto-compounding farms or else I'll miss on potential gains... It's no wonder that shitty projects promise gigantic returns and end up rugging their users, because people are desperate on finding that moon project that will allow them to finally make it at 33, which eventually leads to these people lose everything to a crappy token.
Every scammer and crypto influencer is shilling the next big thing, and people buy it because just like the shillers, they are desperate to believe this will be it, but damn, are people really that naive? Short answer: Yes, they are, and that's why influencers and crypto shillers are so popular around the crypto space.