Keep life simple. Who can break your bones, who cannot? What's the catch? I define people that want to "help" me "criminals until proven otherwise". Call it paranoid, but it really works well. Most people are maniacs that want to make money & if it is at your expense they feel just fine with it, even if you commit suicide after noticing you've just been had...
Trust is a lost asset. It's about fools & predators now. We are ruled by criminals & criminal behavior is the normality. The Thugocracy has been installed and confirmed and it makes no sense to judge reality on any other basis than that people prey on each other. Homo homini lupus. Or like in a Dylan song: Jack the Ripper at the head of the chamber of commerce... That is what it is.
In LA people are urged by gov to snitch on each other, in a small country like Austria over 10.000 people called the police because they noticed violations like taking a walk or spending some time with friends... Makes me think, makes me disgust, confirms trust can be a knife.
Crypto this year has become DeFi, leverage, futures, manipulation in overdrive. Last year it was about "adoption" and "institutional investors". Well - the game is on. Big Money found crypto and toys with it. Look at the hit & runs, the pump & dumps. The theater of greed has landed in crypto space big time. Despite that, some very good projects are out there and it is worth staying in. But market? If you're not on the inside, find crumbs & things under the radar. The rest is the Big Boys Money game.
As you know from this site: we do not predict price. We just trade and do so without any commitment to anything or anybody. Emotional distancing... It is a very perverted system but it is the only system in place. Well over 90% of the financial world is in derivatives and a far cry from reality. Crypto is not any different. It just has some specifics that make you act on it differently. Like shorter breath and higher volatility. You take the ride to enjoy the ride. The ride will end some time - but any ride does end some time. That is not a reason not to take the ride.
I am not an expert. Made 93% on my trades in 2020 so far - but I was just very lucky on some things. As we speak a mere 82% remains. The hardest thing about trading is keeping some discipline - the moment you start winning it is hard to forbid yourself some gambling... We all know that gamblers always end up skid row if they just gamble long enough..
There is no economy. I mean: economy does not exist in any meaningful way. As stated above, 90% of what we call "the economy" is in derivatives and 90% of that again is manipulated. What the real economy is doing is irrelevant, at times not even noticed. There are elite corporations that are too big to fail - and a company like Boeing can pump share prices, shake out massive bonuses, make planes that drop from the sky & when the whole thing crashes it will find the politicians it bought long time ago already going to the taxpayer to grab their money to save it. That is the "business model". What are the fundamentals of companies like Boeing? Politicians on the take! Nothing else. The market and reality stop mattering when it comes to finance. Germany is full of Zombie companies working on this model. Cooking books & extorting the tax payer with the help of corrupt politicians. That's the smart business model. Works!
Thinking about the economy I think about life insurance. You can take an insurance on the life of somebody you do not even know. Than kill that person. If you get away with it you make a lot of money! That is more or less how hedge funds work. A lot of incentives are in the market to rig the market. So that is what logically happens. Betting on a game while fixing it at the same time.
As I wrote above: crypto is not very different. But a little bit different - and that is where your chances are. Takes time to figure this out, but when you do you have a good time and it will take some more years before the crypto market is killed by government. We have a window. We have some time. That is what is great about this.
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