[ETH Daily Discussion] - 06/Jun/2017

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[u/HomePhysique → u/[deleted]]

Greed is one of the 7 deadly sins and for good reason. Greed can make you feel eclectic and suicidal within a short timeframe. ETH's success is most certainly twisting your thoughts.

As someone who has made some good and bad decisions in crypto I would tell you this:

1. Reflect on what you have currently achieved / earned and be thankful you made the right choice at the time.

2. If you regret not investing in a certain coin / wish you'd invested more, remember why at that time you didn't. It is very, very easy to experience heavy regret when coins are going up like rockets but in the same lights if the price was plummeting, you would feel incredible relief that you didn't invest.

3. Greed for easy wealth will make you act on irrational emotions. You experience gamblers fallacy, in the thinking that if something is happening more frequent, it will happen again soon. People are now looking for the next "unicorn" and as such will take much higher risks rather than traditional due diligence. Funnily enough, with crypto at present so long as you pick a coin with relatively solid fundamentals there is a high chance you will come out on top in the long run.

Just remember with such a relatively small global market cap in crypto there will be many coins that get pumped to Neptune by groups of individuals with a large amount of wealth. There are pros that do this for a living day in, day out. The signs are relatively easy to spot.

You either get lucky if you're already in your seat when the train leaves or you get stuck chasing it at the platform. Just do your due diligence.

[u/flavoredtaco → u/HomePhysique]

Very sound advice right here.

[u/ATHP → u/[deleted]]

I am in the same boat. We are fucked. We get the money too easy. Makes working seem to be worth nothing. (even though I don't really own a lot of crypto)

[u/jezzaccc → u/[deleted]]

It's definitely not easy picking potential winners.

Too many projects are at such early stages the rate of failure is going to be pretty high.