You see this kind of message everywhere every once in a while: “Have fun staying poor.” Currently it is the Bitcoin and the whole crypto community. They will make fun of anyone who dares question the problems with blockchain and call Bitcoin the ultimate solution to everything. The argument goes that get into Bitcoin early, or else you will be left behind and “poor”. Look, I like the promise of Bitcoin and even own some, but if your argument for an asset like Bitcoin is that others will be left behind who won’t get in early, maybe Bitcoin isn’t the future then. Any future technology that excludes people like that would have no place in history. Yet, you see this narrative all over online these days by crypto shills who’ll shame you for not profiting off this rally.
What ends up happening is a loop of FOMO where people just buy in without doing research. They rue missed opportunities like tech stocks in 2000s (Amazon, Apple, Google, Microsoft etc.), Tesla in 2020, Bitcoin right now, etc. etc. etc. The thing is, no one truly knows the future. Yesterday’s giants may be tomorrow’s dinosaurs. No one truly knows. One thing you should know is that there will always be opportunities in the market as long as there is humanity. Today crypto is hot, tomorrow it will be something else. Crypto itself will evolve into something we cannot yet imagine. This should always be kept in mind when you come across someone telling you that it is now or never. Either you buy what they are selling now or you’ll forever be poor. When someone is selling this narrative, run the other way because they are not trying to help you, they are trying to enforce their own narrative and trying to get rich. Which is fine. But others will end up taking losses due to FOMO. Do your own research people. Right now, FOMO on Bitcoin, DeFi, etc. is red hot. And make no mistake, there is a lot of promise here in my opinion but also a lot of useless stuff. Do your own research and don’t worry about missing out if you don’t buy in. There will always be missed opportunities. There will always be new opportunities. Any new opportunity that is selling itself as the only way to get rich in the future has a lie spun in its narrative.
There will always be new opportunities.
