Whitepaper isn't enough, You need this kind of dumb luck to make money in Crypto

This is the type of dumb luck you need to make money in Crypto,

A Reddit user that goes by the name Merkado Barkada said that he had bought 8 bitcoin in 2012 as a gag, at US$9 a pop. As of today, the value of a single bitcoin stands at almost US $39,850

[My success] has nothing to do with [me] foreseeing the financial power of Bitcoin—nothing at all, Merkado Barkada said. “I bought it because it was just kind of hilarious as a joke coin. I guess the shitcoin of those days was Bitcoin, and I bought it.

This early win influenced his trading style. Because of it, he said he felt he could “suck up quite a bit of loss, without incurring a real loss.” So while he considers himself a “very cautious stock investor,” he also thinks of himself as a “reckless Bitcoin investor” because he doesn’t take crypto as seriously as conventional investments.

When my stocks fail or trades bomb, or I have a string of bad trades in actual stocks, I feel physically sick. I feel ill. But when Bitcoin goes down over 30 percent over the course of a few months, I feel nothing. It would be hard to get me to care less

Unlike other cryptocurrency traders, he doesn’t rely on whitepapers and project roadmaps. So far, he’s invested US$20,000 into cryptocurrency, and in at least two instances, has invested in a shitcoin—a coin of no inherent value—just for the hell of it.

“During one of these stupid frenzies, I had a friend in Japan who said

Hey, there’s a stupid dog coin that’s a copy of Dogecoin. Maybe you should buy it,’” Merkado Barkada said, referencing the “meme coin” Shiba Inu, which some consider to be a shitcoin. And so he invested about US$3,000 into it. Its value rose a month later, so he sold everything and made US$23,000.

So while some think there’s a rhyme and reason to crypto investment success, Merkado Barkada’s experience shows that sometimes, you just get lucky.

“I’ve super benefitted from dumb, stupid luck and continuing to invest in a self-aware, reckless manner,” he said.