/biz/ - Business & Finance

>>21563389
We are degenerates. Also I didn't grow up poor. Not rich at all by any means but I do have family support if things go south.

Poor to a degree as well, I'm to scared to invest honestly. When you're surrounded by money it probably becomes more novel as you age and the fear of losing it seems less significant.

i'm lucky enough to have a decent job where i can save up money, and I'm typically very financially conservative. i don't spend money on video games and eating out all the time like a lot of people my age do, so i don't feel too irresponsible throwing a paycheck or two's worth of money at something that may turn into a fortune a few years down the line

>>21563548
Plus people get free money from parents

I grew up poor too. I've wagecucked enough to know I don't want to do it anymore so I invested what I could and it looks like it's working. Once you want it you'll try to get it.

how does a white person end up poor? lmao

>>21563389
anon, i was poor and now i throw 20kusd minimum on total shitcoins. scared money don't make money

>>21563578
True, my family is so poor I live with my dad in his parents basement. Most people are afraid of having to move back in to their parents own individual home ( which is more of a social fear than economic fear), I don't even have the option and forget about being given money lmao.

>>21563389
Because you don't understand opportunity cost. NOT dumping tens of thousands means you are guaranteed to remain poor in your 80s while still wagecucking. Stay poor.

>>21563629
Mental illness, tragedy in the family, childhood abuse passed down generations, etc. Location is important too.

Where I'm from their definition of "making it" is landing a job at frito lay or some other distribution center making $17/hr so you can afford more booze to forget how pathetic your life really is.

>>21563389
I rationalized it like this:

If I go all in on these assets and win, I get a jump start on my personal finances and potentially win big. If I lose, I'm still broke, and nothing changes.

Now imagine if I just threw in play money. Now if I win nothing changes, and if I lose nothing changes.

I would evaluate why you're here right now. Course I've been studying this market for 3 years non stop, finding my long term bets and placing them, cause I see potential. Now I have more money than I've ever had in my life. Scared money makes no money

>>21563755
This. You HAVE to play or else.

>>21563389
When it comes to big players on biz there are two types: people who can actually afford it, and poor/average people who got in early, made shit tonnes, and are disconnected from it all. I fall into the latter, I move around tens of thousands at the click of a button that I honestly would feel sick to my stomach to do if it were cash, but since it's magic internet coins I feel nothing

>>21563389
>believes the loes

>>21563389
i've been poorer longer than you have.
i lived without money for so long throwing all my money at gook nail salons is np.

i wage for less than my crypto drops/gains every second, every day.

i just shaved my legs, and asshole.
gml.

>>21563629
Small town. Rural.

>>21563629
gambling all of your money away on shitcoins

>>21563755
based. gotta spend money to make money baby

>>21563389
im white so worst comes to worst i just go make six figures somewhere

>>21563389
Because I'm tired of being poor

We're degenerate gamblers

>>21563389
Take risks in life. I would be more afraid of being average without taking risk than I would be afraid of being poor but having taken risks. That's the difference between your average joe and the billionaires.

>>21563629
Grew up in a trailer house w 6 siblings, fuck off
>>21563389
I lost 75% of my net work in crypto in the bear cycle post Gox, I sold Eth at $2 from the presale. Losing all your net worth, and missing out on 10 mil both fuck with your head. Buy Bitcoin - there's an 80% chance it 10Xs over a long enough time horizon. Long time horizons can slash your risk.
Ignore the degens, most of them (and me) are playing with gains we made from 17

>>21563389
I grew up upper-middle class, graduated from a top 50 university and now have a good job. I never bet more than I can afford to lose.
Pretty simple really.

>>21564998
parents are afluent
I had sex at uni
party'd it up in vegas, norway, paris you name it

literally treat crypto like an expense because even losing money makes me feel good.
Emotional Intelligence underrated.

Op do you even have a job or education?
It builds character and develops discipline to persevere through struggle.

>>21563389
I grew up poor and I do it, literally lost thousands of rug pulls as well. You need to take risk to make it op. You won't get anywhere being poor and being safe 100% of the time. Even now I wish I could be more ballsy like some anons I see because half the time I feel like a pussy not being even more riskier. You just need to weight up the risk vs reward op.

>>21563475
This. I was poor too I'm just a fucking gambler. It lets me have some hope I guess.

>>21563389
I use to think that too until I realized doing that is murder in this game. You're going to jizz every time you make 200 and consider suicide every time you lose money. Its not good and it makes you sloppy, you're going to fall into all the rookie traps.

>>21563389
I make about 40 to 50k a year and I can reasonably not rope if I lost 10k the next day.

now if I lost 2 or 3 years worth of salary yeah I'd probably JUST

Hahahhahahahahahahhahahhaha

Nigger detected

>>21563870
This, 100x over. Which projects you in, desu?

>>21563389
I grew up poor, pushed myself through university, and got a mid tier job. I realised I dint really need to spend much more than I was used to, so I don't feel much while risking my surplus.

If you risk little, you win little.

>>21563548
Get skills. I grew up very poor but I know that my backup plan is to wage slave making low 6 figures and I can do that at any time I want. It's not ideal but it lessens the fear of failure.

>>21563389
I grew up poor and got a job and realized making money was easy as fuck, I can piss away my life savings, I'll have it back within a few weeks,

Because being scared didn’t make me my first million.

>>21566615
What skills should I get? I literally have nobody to get advice from this on?

>>21563389
Not many people start trading crypto with thousands of dollars. Most of us worked our way into being able to make trades over $1000 without worry. I came back to crypto in March 2020 when ESH was pumping with $250 initially to invest. Today I made a trade using 4 ETH and thought about how crazy this is considering I was a homeless heroin/meth addict 2 years ago.

>>21565891
LINK, TRB, ADA, XDB, SOUL

>>21566731
Post proof

>>21565258
When profit chasing the most important thing is don't lose money. That's even more important then making gains because without money you can't invest and if you get into enough decent coins eventually you're going to make gains.
What I do now is when I gain 50%-100% and want to continue holding I pull my initial investment, Then pull 25% at 3X and 25% at 4x. After that I let the rest ride because taking profits is what this is all about. If I gain 50% or more on a PND I usually just pull everything. Sometimes I regret it but most of the time I don't except for XOR and SWAP I wish I would've held those.

>>21563389
Get rid of your poor slave mindset and start investing your extra money.. I find that so many people dont want to fuck with the markets at all because they think it's a waste of time or some bullshit. They are always poorfags too. But there's money to be made if you learn.

>>21563629
Not all of us grew up middle class, a lot of us come from broken homes and had to start working at 18 so we couldn't go to college and some of us have lost money to investments, divorce and addiction. Im in all those categories but after grinding and getting sober I finally have a 401K, decent pay of $22 hourly with unlimited OT and a investment fund.

>>21563389
It took me two years of wagie working to accumulate my LINK stack after I got in late at $1 per LINK I used to freak out over a hundred dollars but once you see your portfolio drop in value every large amount it dumps and every large amount you make again increases your tolerance threshold for risk.

Of course someone who's new to investing is going to worry about their money, they've never risked it before. I first started in boomer stocks thinking I had time to buy LINK when it was sub $1. I remember my first test investment was buying a couple shares of AMD which I promptly lost $20 and was pissed off about for the rest of the day. Now my portfolio is six figures, I made more in two weeks (and sold the top, unironically) with LINK than my old manager makes in a year. And I did it sitting on my ass playing minecraft and watching anime. $200 is a small fee for trading, it's literally shit.

The point is you get used to it, assuming you don't sell and quit forever.

>>21563389
Unironically NGMI with that mindset.