After surviving to insane potentially conehead about to be triggered moments I had was one bitcoin first fell from $126,000 down to $60,000 and just like a month and a half very unexpected\u2026 And also more recently, after three months of grinding from $60,000 to 70,000, mid 75,000\u2026 and then getting some relief as bitcoin broke $80,000 after three months of hell,\u2026 hitting $82,000 as the clarity act proceeded, but, once again this hell and chaos I think from the Iran tensions, and also potentially Iran selling a huge supply of her bitcoin to the network because, she started to charge tolls across the strait of Hormuz in bitcoin.<\/p>\n\n\n\n
Anyways, at least today\u2026 Finally, I was able to sleep, after probably the worst 24 hours to 48 hours of my life the last two days\u2026 Some epiphanies:<\/p>\n\n\n\n
First, I think the only number one rule in life is avoid 100% financial death<\/strong>. Why? \ufffc nothing else matters.<\/p>\n\n\n\n This means, never ever ever invest in something in which it has the chance of going to zero, or\u2026 Doing some sort of leverage in which you get a liquidation price, in which you could literally lose 100% of your net worth, 100% of your family jewels with just one tail event and extreme volatility that usually settles in a week or two. \ufffc<\/p>\n\n\n\n Second, freedom is paramount to everything. The point of having money and investing and stuff\u2026 Isn\u2019t to become rich and buy a bunch of stuff, but instead, to simply not have to work.<\/strong> I think this is a hard concept to grasp because about 99.999% of the population has to work for a living\u2026 Whether you earn $20 an hour as an Uber driver, $500,000 a year as a tech worker, $10 million a year as a tech CEO, whatever. \ufffc<\/p>\n\n\n\n Literally when you have a financial gun to the side of your head, and there is even like a small chance of death which is 100% out of your control\u2026 i think i could easily say it could be one of the worst cortisol inducing things which pumps to your blood every two minutes, constantly, for a dreaded 24 hours.<\/p>\n\n\n\n \ufffcAnd even sleep doesn\u2019t help because you lie in bed, with constantly elevated cortisol levels, not being able to sleep. and finally if you are able to sleep, you might wake up at 11 pm just two hours after falling asleep, unable to go back to sleep, or waking up at 2 am, insanely anxious and restless. \ufffc<\/p>\n\n\n\n i then had an interesting thought, the difference between working hard and risk, risk taking especially with financial risk taking, especially when it is your own money, the family\u2019s money, your mom\u2018s inheritance, whatever. \ufffc<\/p>\n\n\n\n I think you\u2019re number one goal as a financial steward is to simply not lose the money. And once again it\u2019s not like aggressively growing it, but\u2026 Simply not losing it<\/strong>. \ufffc so any financial decision that you make which may increase the chance of losing the money is not worth it. \ufffc<\/p>\n","protected":false},"excerpt":{"rendered":" After surviving to insane potentially conehead about to be triggered moments I had was one bitcoin first fell from $126,000 down to $60,000 and just like a month and a half very unexpected\u2026 And \u2026<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_ek_photo_artist_note":"","_ek_photo_thesis":"","_ek_photo_camera":"","_ek_photo_place":"","_ek_photo_human_moment":"","_ek_photo_sequence":"","_ek_photo_question":"","_ek_photo_canonical_claim":"","_ek_photo_ai_summary":"","_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[17],"tags":[],"class_list":["post-669639","post","type-post","status-publish","format-standard","hentry","category-posts"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/posts\/669639","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/comments?post=669639"}],"version-history":[{"count":1,"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/posts\/669639\/revisions"}],"predecessor-version":[{"id":669640,"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/posts\/669639\/revisions\/669640"}],"wp:attachment":[{"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/media?parent=669639"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/categories?post=669639"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/tags?post=669639"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}