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Motley Fool Money
Getting Robbed, Making Millions, and Learning about Risk
Jul 21, 2024
Author Nathaniel Eliason discusses his crypto journey, rigged speculative games, and the corrupting influence of fast money in the crypto market with Scott Kassing on the podcast. They cover risk perception, unfair advantages, and mindset shifts when dealing with large sums in cryptocurrency.
29:47
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Quick takeaways
- Crypto trading involves addictive risks and rapid gains but can lead to significant losses.
- DeFi projects like Iron Finance can offer high returns but are prone to collapse due to volatility and risks.
Deep dives
Experiencing Crypto Manias
Getting involved in the crypto market during the 2017 ICO frenzy and then again during the 2020 crypto boom, the speaker describes the allure of quick profits through day trading and farming crypto tokens. He recounts the rollercoaster of making profits and losses, emphasizing the risks and addictive nature of the speculative game within the crypto space.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode