Are you a crypto cuckold?

Bienvenidos mis ositos, tu siempre eres mis queridos! (Welcome back little bears you are always my dears!)

When I was a young panda in college, there was a cute girl that I pined for. I used to chat her up all the time when I got the chance. I used to follow her around, helping her carry her bags when she went shopping.

At the time I didn’t know that I was an orbiting simp. In my mind I thought the more time I spent on her the higher the chance that I could be her next boyfriend.

But it was not to be, I was forever friendzoned.

When I think back about the wasted effort and time, fawning over her every word and groveling for attention I get mad.

When she got a divorce, I thought to myself “Wow, here’s my chance to prove to her I can be a good provider to her and her kid”.

Then I slapped myself for even thinking such ridiculous thoughts.

In the end, I didn’t get the girl. In fact I didn’t get much of anything.

Technically I wasn’t a cuckold but let’s face it, if I had tied the knot with her I probably would’ve turned into one.

So Panda what does this have to do with crypto?

Well frens, sometimes we fall in love with a crypto or an NFT project.

HUGE MISTAKE!

NEVER FALL IN LOVE WITH YOUR TRADES OR INVESTMENTS!

When I look back at some of my bad trades from the 2017 era I see stuff like ADA, NEO, VET and (gasp!) even XRP.

Like most newbs at the time I fell in love with story or drank the Kool Aid and thought that I was early on the gold rush.

In reality I was just another bagholder. The only people making money off some of these projects were founders, early VCs, and shillers. Basically everyone but me.

The only good thing that come from those trades was that I was able to dump them to claim some tax losses.

I get mad when I think of all the wasted time watching videos, listening to twitter spaces, and reading Medium “analysis”. I could have done my own research instead of relying on project cheerleaders.

NEVER FALL IN LOVE WITH YOUR TRADES OR INVESTMENTS!

Don’t get me wrong no relationship is perfect, there will be bumps along the way. As long as the crypto project takes their mission and security seriously then it makes sense to stay.

Even relatively small losses can be tolerated up to a certain point. Everyone has a different pain tolerance. However once you reach that pain point it’s time to let go.

Sometimes you need some time apart to explore. Sometimes you find something better, sometimes you return to your first love.

You need to toughen up and make some tough choices. Now it’s impossible for me to help everyone with their portfolio.

But here are some questions for you to ponder.

• How much am I down on this investment? Personally a 50% loss is enough to make me leave.
• Why? If I’m down 50%, I NEED a 100% rebound just to BREAKEVEN. That’s tough but doable for major cryptos. It also requires patience and time.
• Can it pay me back in some way until the bull market resumes? I hope that your crypto investments have some way to pay you some type of interest. Otherwise you will need to find a job, even a second job. Surviving in an inflationary environment SUCKS!

Now I don’t want people to think I have a hard heart. It makes sense to reward good behavior and punish bad behavior whether in life or in crypto.

Obviously none of this is formal financial or tax advice. You need to find qualified professionals in your jurisdiction.

Be sharp, stay hungry let’s get that money!