Welcome to big boy crypto home of the bit squad, the largest and greatest crypto community in all the innerwebs, my name is ben everyday. On this channel, i show you how to make money in crypto, if you like money and crypto to make sure to hit that subscribe button. If you want to go deeper into crypto, make sure to check out bitl ab academy.com coming to you Sunday drive video. I haven’t done one of these in a while, where i drive to church and tell you what’s going on in the crypto markets, uh and guys today.
I want to do a very special video where I’m going to explain to you what it feels like to lose 10 million dollars. That’s correct, um! Now here’s the thing: some people would tell you that there is a difference between realized and unrealized gains, and they would be absolutely correct. We’ll talk about that in a bit, but i i think the message that i want to give you guys today is one of patience and i’m going to give you an example of one of the greatest uh. You know returning projects in history when it comes to patience and this example is so powerful because it’s going to explain to you the power of investing over time and huddling.
If that’s your strategy uh and how you could have turned a thousand dollars into 1.5 million. Very easily uh, actually, just by doing nothing, you could have been able to do it. So here we go guys so this morning i checked out my portfolio uh, you guys know. We show the portfolio from time to time on the channel we like to do that.
I generally like to do it when it’s going in a positive direction, not in a negative direction so uh this morning, i’m going to give you the numbers we woke up this morning and say we. I woke up, you know with my wife, but i woke up and checked out my portfolio. This is my anniversary today, by the way and over the portfolio – and i looked, and the number is 26 million dollars and that’s a lot of money. There’S no question about it feels good, especially when i would check the portfolio – and you know in years past several years ago, and there was basically nothing in there, so it definitely feels really great. However, what i would tell you is this: the peak of my portfolio would have been in the middle of november uh right before bitcoin crashed when bitcoin was at all-time highs or they’re about all coins were pumping.
My number was at 36 million dollars now this morning, 26 million a couple weeks ago, a few weeks ago, 36 million – that is a loss of 10 million dollars um. Now, here’s the thing: there’s a difference between a realized gain and an unrealized game, a realized gain or loss or unrealized loss is when you pull your money out of the market while it sits within the market and fluctuates with volatility, sometimes without a lot of volatility. Uh, you know that those are called unrealized gains and losses, but when you pull the mark, the money out of the market, that is called a realized loss or a realized gain because you put the money in and now you pulled the money out. What is your total? What is the money sitting at today?
So when you look at the fluctuation within your portfolio, unless you pull the money out, that’s unrealized, so i have an unrealized loss right now of 10 million dollars. So the thing is, is how can i stomach that? Well, it’s like. I tell you guys, all the time don’t get too high when your numbers are up, don’t get too low when your numbers are down. If i, when i had 36 million dollars, if i felt like i was on top of the world – and i was conquering everything and everything was great and uh, you know what am i going to do with this money?
Am i going to go? Buy a god? Am i going to buy a private jet, whatever the case may be? I don’t know how much of those things cost. I think average john’s like 7 million dollars, but no idea how much a plane cost – maybe 2 million – maybe 100 million no idea uh and i were planning what i would what i were gon na do with that money.
Then i would be in a bad spot when it dropped that much. But to me, looking at the numbers is just that they’re, like looking at video game points almost because i’m not pulling them out. It’S not really a value to me until i pull the money out and that’s how i can stomach a giant loss like that and not really be that concerned about it, because, to be honest with you, i’m really not now. What is the key to this? The key is patience now if we were, let’s say, let’s say uh, you know, i said the price of bitcoin went below forty thousand dollars.
We were going to sell off big chunks, and that is true. If that didn’t happen, because i feel like it would probably drop more, the thing is you got to have a plan, you got to be patient and you got to have a plan, so that is my plan. I’M going to stick to that plan and hopefully be patient enough to wait for the price of bitcoin to go back up whenever it goes back up um. Obviously, this year has not played out like we thought. If you told me at the beginning of the year that bitcoin was not even going to hit 100 000 by the end of the year, i would have been totally shocked later on in the in the year.
I got confirmation, these numbers should be coming and unfortunately, they have not panned out at least to this moment and unlikely to pan out in the next couple weeks, at least to a six-figure peak uh. I i would go to your crazy if you said it wasn’t. Gon na get 100 000. I believe, with everything, in my spirit with everything in my being that it was going to it obviously hasn’t, but that doesn’t mean you you can’t make – and this is a very important lesson for you guys. You can’t make a hundred percent of your crypto plan based on crypto predictions people, love crypto, predictions our most requested videos, our most viewed, videos, predictions and top coins, and things like that.
But when you actually get to these moments in time, where things get tough, you have to take all of your information, all your research into consideration. When you make these types of decisions to sell or to not sell where we’re at right now, we do not feel it’s beneficial to sell. We still believe that the price of bitcoin is going to go up, but we have a plan if it goes down and that’s important one of the greatest examples of how patients can pay off. I saw in a tick tock video. Last night.
I’Ve tried to find it. I can’t find it again. It was an asian gentleman who made this video talking about dogecoin talking about how if you had invested a thousand dollars in uh 2014, when dogecoin began by the end of 2015, you would had like 500. These numbers are approximate by the end of 2016. You would have like four or 500 by the end of 2017.
You would have had 20 dollars. If you held till the next year in 2018, you would have had about four or five thousand dollars. Nothing happened. The next year, so by the end of uh 2019, you would add four or five thousand dollars by the end of 2020. You would have had 25 000 at the peak of dogecoin this year.
That thousand dollars would have been worth 1.5 million dollars. Imagine 1.5 million dollars so the they think about this process on on this guy’s journey. If he did not realize those gains until the end or any person that guy probably didn’t do this, but he would have felt like.
Oh my gosh, i lost 500. I lost half my money, but if you just would have kept it in there, if you just would have kept it in, it would have grown over time too much in crypto. We have a recency bias. We tend to believe that you know what whatever is happening. This month is the most important thing, but oftentimes we look back over long periods of time and we look at.
We view them in chunks like a bear market or a bull market or the peak of 2017 or the you know the bear market bottom with the hash wars in 2018 and they go by real slow when you’re in them. When you look back they’re, very quick and this time where we are down we’re really the pivotal time, that’s going to determine whether or not we’re heading into a bear market or a bull market in the short term, continuing a bull market or heading into a bear Market, so this is a very pivotal time and what you do with your money right now is extremely important. So i really implore everyone to have a plan don’t just wake up day to day. You may have to change your plan and that’s okay, if you have to change it, but you need to be in a position where you can make the best. You know decision with your portfolio at all times and it doesn’t have to be optimal.
You know people think all the time like if i only sell the very top or buy the very bottom, it’s just percentages, it’s ranges if you can get within 20 to 30 of either one of those points, you’re going to do really really well right. Now we are more than 20 away from the top more than 30 away from the top, i believe, maybe about the 30 range somewhere there abouts so uh, because of that, like we made, maybe we missed that range. Maybe we did, but we think there might be more upside, so we’ll have to see see what happens here, but i want to know what is the biggest unrealized loss that you’ve looked at in your portfolio? The the pros know the unrealized gains and the unrealized losses. They’Re really not worth much, they can be some shock value sometimes, but it’s really more important when you get those realized losses and those realized gains.
What at the end of the day, does your portfolio look like so drop those down below? I want to know: what’s the craziest thing you woke up to and yeah that’s all i got be blessed.