Well, always good to fess up and keep yourself humble from time to time, AND really it's the only way you learn!So, what was my

Well, always good to fess up and keep yourself humble from time to time, AND really it's the only way you learn!

So, what was my first big mistake? Listening to the fools calling for $100k on BTC and the related crypto market last year, when I knew it was time to sell with the inflation trend and the Fed changing course. It was just greedy and lazy, as I should have tuned out all the talking heads (video and print) and stayed true to what I knew from past market cycles. And there is a correlation, 1-A if you will, when the market finally broke not selling everything and just going for walks in the woods instead of following the day to day news and price flow. Some part of me believed I was a long-term investor, and I am, but that doesn't mean you can't sell most of what you hold (or at least hedge). and avoid the temptation to grab a falling knife (ie buy too soon). 

Now, the one thing I did do right is start a ladder of BTC at $20K in June, and raise the size of the rung as it dropped. And then I didn't chase it when it rallied, not buying any more until recently when it hit the next rung, and I'll probably buy it this way down to whatever it's bottom is. This was smart (hopefully, eventually) and disciplined, and I don't have sizeable positions anyway as I Iimit my risk in crypto to money that won't make me have sleepless nights or live under a bridge if I'm wrong, as should you (especially in this environment). This is a very risky asset class, with a lot of unknowns. I also did swap into PAXG, a gold crypto asset that actually made me some money in the first part of the bear, and was ridiculed for it by the talking heads and followers at the time ("you know how gold has done vs BTC over the last ten years??!! lol I was only going to own it for months not years, and the current inflation is not at all like the macro setting the last ten years, but they wouldn't even consider it ;)  It will be interesting to see how this whole industry evolves and the choices that will be offered to us in the future...keep an open mind. Anyway, there is wisdom in looking at what we do right also, but back to mistakes. 

Now the second big mistake? I chased yield! No not Terra, which looked like a ponzi scheme from the start to me, but instead something that seemed much safer after listening to all the youtube channels that had Alex of Celsius on and promoted him with their little bonus offers. Seemed like a nice responsible guy, would pay me a bonus to send over some crypto and pay a decent yield, not outrageous like Terra and some other projects, but what seems reasonable and achievable without taking excessive risk. And even though I knew we were in a bear, I figure these were high quality names that would grow buying more at lower prices with the yield.  Wrong! First the yield doesn't come close to offsetting the price drop and it would have been better to sell (see mistake #1 ;) and more important, it was also a ponzi scheme in some fashion, counter to what Uncle Alex and his youtube Buds projected. Luckily, again, I had just a small amount at risk, but it still was a great lesson I will not repeat, and I also feel really bad for people who were hurt by CEL, LUNA and FTX, and ....

The funny things is, in both case my gut said something's not right, but I used "facts" and reason and others opinions to justify my decisions and ignore the wisdom that was speaking softly in the background (mistake #3? listening to youtubers and industry writers???). Mistakes I doubt I'll make again...yet, I have no doubt there will be new ones lol This is life! Yet, if we make more good decisions than bad, and size our choices right, we should be just fine, especially in an industry with the potential of blockchain. And ironically, I feel pretty good where I am right now. If it goes down, I'll buy some more. If It goes up, I'll sit (Maybe evaluate some new projects) . Goes up too much too soon, I'll sell some (and don't make the mistake of not paying your taxes!). And I'll let time work for me, as well as stay tuned into the macro and industry specific news (eg regulation). And with the next bull, when the hopium pipe is being passed around again, I'll be writing about how I'm taking some profits, and maybe, just maybe you should too. And some if not most of you will think I'm boring or a moron (both may be true ;) and people will get rekt again at some point. And I'll learn something new for sure too, as I will always have some exposure to this wonderful, interesting, dangerous and volatile industry and asset class. 

I hope you appreciated this and may you be blessed with abundance, and wisdom to appreciate and use it skillfully (remember the first part is making it, the second part is keeping it ;)