馃攳
When HODLING Costs You $1.5 Million... - YouTube
Channel: unknown
[0]
every now and then in life i feel like
[1]
we're thrown a really great opportunity
[3]
or we get really lucky
[5]
i think one factor in becoming
[6]
successful and whatever you do is being
[8]
able to spot those opportunities
[10]
and making the correct decision today
[11]
we're going to be looking at someone who
[12]
took a big gamble and hit
[14]
he basically walked into a vegas casino
[16]
put all his money in slot machine
[18]
dropped the lever and 10xed his money in
[20]
a matter of about four months
[21]
pro the doge is his internet name and i
[23]
feel like he's been a great
[24]
representation of the crypto bull run
[26]
and mania that the markets have
[27]
experienced in late 2020 and early 2021.
[31]
he initially invested about 180 000 into
[34]
dogecoin when the coin was 4.5 cents
[36]
as dogecoin went to the moon his initial
[39]
investment grew exponentially so you
[40]
took 180 000
[43]
right correct this was your life savings
[45]
you sold
[46]
stocks you borrowed money on margin you
[49]
maxed out your credit cards
[51]
and you just yolo to all that money into
[53]
dogecoin correct i'm a big fan of taking
[55]
huge risks i personally think a lot of
[57]
young people should take massive risks
[59]
when they aren't married or have kids
[61]
like this guy did
[62]
you only really need one big win in life
[64]
everyone's win
[65]
looks different my big win was youtube
[67]
taking off my youtube success is going
[69]
to turn
[69]
into a nice real estate portfolio and
[71]
possibly some other investments that
[73]
will pay off big
[74]
pro the doge's big win was dogecoin
[76]
taking off investing becomes a lot
[78]
easier as you have more money to play
[80]
with
[80]
and it's not common that an investment
[82]
turns a hundred and eighty thousand into
[83]
two million dollars
[84]
you probably only get one of those wins
[86]
in your life if you're lucky
[87]
and you've got an overall return of all
[90]
time
[91]
822 percent yeah that's insane dude my
[94]
return
[95]
is a million 115 because on my channel i
[99]
make a lot of videos about fake gurus
[100]
why athletes go broke and reacting to
[102]
get rich quick schemes but at the center
[104]
of the content is the psychology around
[106]
money
[107]
financing and investing i think pro the
[109]
doge's investment gives us some really
[110]
interesting insights into a get rich
[112]
quick scheme that actually worked and
[114]
paid off
[115]
very few people ever have the
[116]
opportunity to invest their money into
[118]
something where the return
[119]
is life-changing and it happens in a
[122]
matter of a couple of months here's the
[123]
thing the way
[124]
i think most people see this is like
[126]
this guy just
[127]
won the lottery right and when people
[130]
ask you what are you gonna do with this
[131]
money are you gonna cash it out are you
[132]
gonna reinvest like what are you gonna
[134]
do with it you say that you're just
[135]
gonna keep it in until it's 10 million
[136]
dollars which is like
[137]
for most people the equivalent of saying
[140]
i won the lottery
[141]
and i'm gonna put this money to buying
[143]
more lottery tickets let's look at the
[145]
crypto market today
[146]
you see a lot of these coins down 15 20
[148]
25
[149]
in the last seven days buying all coins
[151]
during a mania phase is like going to a
[153]
casino and gambling just as andre
[155]
mentioned
[156]
a couple of people are going to hit and
[158]
a lot are going to be disappointed
[160]
dogecoin rose to 70 cents a coin in just
[162]
a couple of weeks but is down
[164]
around 70 since with no signs of it ever
[166]
reaching those heights again
[167]
playing the lottery is fun when you win
[169]
but putting money back into the lottery
[171]
is like
[172]
by miracle hooking up with the hottest
[174]
bartender in your city and then trying
[175]
to have a threesome with her best friend
[177]
sometimes you gotta be careful with
[179]
pushing your luck a little too far in
[180]
life
[181]
up until yesterday i had been a
[182]
millionaire this 33 year old dogecoin
[184]
investor refuses to sell despite losing
[186]
over 167 thousand dollars in one day
[189]
i'm making this video because i saw this
[190]
blog post and thought it would make for
[192]
an interesting video
[193]
i dislike when people say they lost 167
[196]
000
[196]
in a single day because he didn't lose
[198]
money he lost profit there's a huge
[200]
difference
[201]
in just a minute i will discuss the
[202]
psychological elements happening with
[204]
someone who made a couple million in
[206]
like three months
[206]
but i also thought i could share my
[208]
opinion since i've actually lost money
[210]
and know the difference between losing
[211]
money and losing
[212]
profit how much of it was skill and how
[214]
much of it was actual luck i consider it
[216]
being a calculated risk 10 was luck
[219]
and 90 was me strategizing
[223]
researching looking at all of the pros
[226]
and cons like
[227]
what could possibly go wrong let's be
[229]
real it was a hundred percent luck for
[231]
nearly anyone making a bunch of money
[232]
from yellowing into an altcoin
[234]
there's no calculated risk with gambling
[236]
blindly it's full risk
[237]
it did pay off so he can justify the
[240]
decisions but
[241]
many people made the same decisions on
[243]
other coins that didn't take off
[244]
with doge it's like volatile but it'll
[248]
get to a place that it stabilizes so i
[250]
feel like once it's
[251]
over a dollar maybe a dollar fifty the
[254]
the amount that it goes up is going to
[256]
gradually go
[257]
and then the amount that it goes down
[258]
will be gradual and it'll go up and
[260]
reveal down it but it'll eventually keep
[261]
going up what i've
[263]
really enjoyed seeing from the sidelines
[264]
of the crypto world is the
[266]
justifications that people use for why
[268]
certain coins behave the way they do
[269]
the coin just goes up and down and up
[271]
and down but over time it will be worth
[273]
more than when i bought it
[275]
okay so what's the utility or how are
[276]
people going to use it well you know
[278]
in a couple years they plan on possibly
[281]
doing something and developers are being
[282]
interviewed and yeah it's gonna go up in
[284]
a bull run
[285]
everyone looks like a genius because the
[287]
market bails you out for bad decisions
[289]
what i find most interesting when the
[290]
market tanks like dogecoin being down 60
[292]
to 70 percent
[293]
from the previous highs is listening to
[296]
the justifications
[297]
for why the market tanked and why the
[298]
coin isn't back up to all-time highs
[300]
again i consider doge like cash money
[303]
like when i go to the store i'm gonna
[304]
buy something with cash we all have
[306]
money and we all buy things with small
[308]
bits and amounts of money
[309]
with doge that's going to be pretty much
[312]
the same thing we're able to go buy a
[313]
t-shirt with some doge or
[314]
or buy some pants or or buy a hat or
[317]
whatever you want to do it'll be like
[318]
a daily transactional thing the problem
[321]
the crypto coins like dogecoin face
[322]
right now is they are nowhere close to
[324]
being used as an actual currency as he's
[326]
talking about here
[327]
you simply cannot run a business where
[329]
the capital you receive
[331]
for providing a service or good could
[333]
fluctuate by five to ten percent in a
[334]
single day
[335]
or twenty five percent in a week like it
[337]
is right now a lot of businesses run on
[338]
tight margins and if the
[340]
money they receive from customers drops
[342]
five percent after the transaction
[344]
and stays down five percent until the
[345]
coins can be deposited then the business
[347]
can't operate
[348]
a lot of businesses wouldn't be able to
[350]
meet payroll or pay the lease if the
[352]
currency was super volatile
[353]
what would happen if dogecoin drops back
[355]
down to four cents
[357]
and you're left with 180 000 again and
[359]
you might potentially not see a million
[361]
dollars for
[362]
a couple decades so that's not gonna
[364]
happen it's never gonna go back to four
[365]
cents
[366]
this is a great question by andre
[368]
investments like crypto all coins carry
[370]
a lot of unforeseen risk that is not
[372]
obvious to us
[373]
today a common term for this is a black
[375]
swan event
[376]
i think a more appropriate idea is
[378]
simply that a lot of these altcoins just
[380]
don't have any utility
[381]
and aren't capable of certain unforeseen
[383]
risk such as an entire country banning
[385]
the coins
[386]
or new coins being created with better
[388]
tech obviously there's
[390]
seasons right in crypto right there's
[391]
times when it goes dormant
[393]
or it goes down for a period of time
[395]
like as far as
[396]
doge going back down i feel like the
[398]
lowest
[399]
let's say it it drops down right i feel
[401]
like the lowest doge will ever
[403]
go will be 15 cents funny enough the
[406]
value of dogecoin is almost irrelevant
[408]
if he doesn't plan on selling until his
[409]
portfolio hits 10 million dollars
[411]
the difference between 15 cents a coin
[413]
and 70 cents a coin is negligible
[415]
if he plans on holding until the coin
[417]
reaches 2 dollars and 50 cents
[418]
he just needs to hold until his
[420]
threshold is met i have a lot of respect
[422]
for this guy he made life-changing money
[424]
and decided not to sell
[425]
because he believes in dogecoin enough
[427]
to stick with it this is not easy to do
[429]
by the way
[429]
the problem that pro the doge is going
[431]
to face is that he's never going to be
[432]
able to sell and here's why
[434]
if he hasn't sold by now then he will
[436]
not sell until either one of two things
[438]
happen
[438]
a he needs the money because of an
[440]
emergency in his personal life or b
[442]
the coin hits two dollars and fifty
[444]
cents or whatever and he's able to walk
[445]
away with a ten million dollar profit
[447]
if he didn't sell when he had over two
[448]
million dollars then he won't sell if
[450]
the coin fluctuates its way up enough so
[452]
that he has let's say 1.5 million
[454]
dollars
[454]
he'll justify in his mind that it is
[456]
going to continue going up
[457]
until it surpasses its previous high and
[460]
he'll hold until that happens
[461]
the human mind is fascinating on how we
[463]
justify our decisions so let's say it
[465]
goes back to 15 cents i still 5x my
[467]
money
[468]
and i'd still in a better i'm still in a
[469]
better position than i would be in the
[471]
stock market
[471]
in dogecoin i five exited in two months
[475]
no more than five exit in two months but
[476]
i'm saying if it crashes back down
[478]
i don't see it going below 15 cents he's
[480]
definitely right about his investment
[482]
it has worked out for him so far my
[484]
concern for investors like pro the doge
[486]
is that he's never going to take his
[488]
profits and this is the most important
[490]
thing to remember
[491]
the risk is still there is the entire
[493]
stock market going to tank to zero
[495]
no can dogecoin maybe it's certainly
[498]
more volatile than the stock market with
[500]
the downside being a potential to hit
[501]
zero you said that you wanted to hold
[503]
your investment until it's worth 10
[504]
million dollars
[505]
like to me seems like a dude who won the
[507]
lottery who's gonna spend that money
[508]
towards more lottery
[510]
but okay what makes you think that
[512]
dogecoin will go to 250. this is where i
[514]
have a lot of respect for the dogecoin
[516]
millionaire he has principles to stand
[518]
on
[518]
and won't deviate from his plan at all
[520]
he doesn't want 5 million he wants 10
[522]
million dollars and will not sell until
[523]
that threshold is hit
[525]
i have nothing but respect for that the
[526]
problem is that we as humans will
[528]
sometimes justify ourselves out of the
[530]
best decision possible to stick to some
[532]
principle we made up
[534]
my concern for this guy is that dogecoin
[535]
will never reach the number he's wanting
[537]
it to reach
[538]
and he holds the coin for 10 years i'm
[540]
not even convinced it will be around in
[541]
10 years
[542]
this next video is another andre jic
[543]
video thanks andre for the great content
[546]
they meet up with graham stefan which is
[548]
really interesting in hindsight because
[549]
i think graham nailed it with his advice
[551]
we gotta see it we need an update i
[553]
almost doubled my money
[555]
2 million 178
[558]
79 000 66 diamond hands baby
[562]
can you imagine flipping 188 000 into 2
[565]
million in a couple of months
[566]
that's winning the lottery this guy has
[568]
built a really solid brand around being
[570]
a dogecoin millionaire and being the
[571]
social media face for the rise of
[573]
dogecoin
[573]
what's going to be really difficult for
[575]
him is that he's now identified as the
[577]
dogecoin millionaire
[578]
it's his brand and identity by selling
[580]
dogecoin he will be selling off a piece
[582]
of his identity
[583]
this is a fascinating concept so i hope
[585]
it makes sense once you build up an
[587]
identity of yourself in your mind it's
[589]
incredibly difficult to change
[591]
this is why using labels on yourself can
[592]
be very inhibiting
[594]
and not allow you to see outside of your
[596]
echo chamber once you identify as
[598]
xyz trying to become a new version of
[600]
yourself let's call it w
[602]
x y z can be challenging what pro the
[604]
doge is going to be confronted with at
[606]
some point
[606]
is a battle between real life actions
[608]
and his identity
[610]
think about it he's built up a brand of
[611]
being the dogecoin millionaire
[613]
it's his social media it's how he's on
[615]
the news it's how he gets to hang with
[616]
graham stefan and andre
[618]
jick by selling he will be removing the
[620]
identity he's built
[621]
which psychologically is incredibly
[623]
difficult to do to me this is like
[625]
we're in las vegas you went to a casino
[629]
and you put all your money on the
[631]
roulette table and you happen to win
[634]
that doesn't make it a good investment
[636]
that doesn't mean that like wow it
[637]
worked
[638]
let me keep doing it graham knows it was
[641]
a once in a lifetime gamble that paid
[643]
off i love that he is keeping his
[644]
dogecoin because it's interesting
[646]
content
[646]
and every time i check the price of
[648]
dogecoin his portfolio comes to mind
[650]
great job with the personal branding you
[652]
would consider this life-changing right
[653]
yeah
[654]
yeah for sure so why risk it
[657]
my thing you've already won the game you
[660]
you beat the game
[661]
there's very little difference in
[663]
between you know making 2.3 million
[665]
dollars and
[666]
2.7 3 million there's not really a big
[670]
difference between that
[671]
to go a step further there's very little
[672]
difference between two million dollars
[674]
and 10 million dollars
[675]
i know i know it sounds like a huge
[677]
difference just talking about having
[678]
your needs met there isn't a difference
[680]
at 2 million
[681]
you're good you can move to a reasonable
[683]
cost of living city
[684]
and have all of your needs met for the
[686]
rest of your life the difference between
[687]
2
[688]
million and 10 million becomes just a
[690]
matter of nicer consumer consumption
[691]
but all needs are met at both levels
[693]
this video is definitely not me trying
[695]
to tell him how to live his life
[697]
i'm sure he gets a lot of joy out of the
[698]
dogecoin experiment and it's probably a
[700]
fun game for him to play
[702]
you know a reason to get out of bed in
[703]
the morning my argument here
[705]
is that we're going to the moon
[710]
and it's going to hit a dollar elon musk
[712]
is going to be on saturday night live
[714]
this saturday
[715]
this is really interesting to watch in
[716]
hindsight knowing what happened in the
[718]
weeks following this video
[719]
the real answer is it has become his
[721]
identity and brand to hold dogecoin
[724]
if he sold then he'd be battling against
[726]
his own beliefs
[727]
which is basically impossible to do will
[729]
dogecoin ever hit a dollar
[730]
i don't know it will be the great
[732]
mystery of the next couple of years real
[734]
question if you had to bet on one of two
[735]
options in 2023 dogecoin will either be
[738]
a dollar a coin or 10 cents a coin which
[740]
would you put your money on but do you
[742]
think it's gonna dump
[743]
if it dumps it might dump by ten percent
[746]
ten
[747]
ten percent so it's going to go with
[749]
it's gonna hit a dollar and then dip to
[750]
90. it'll it'll hit a dollar and dip to
[753]
like
[753]
60 which is still higher my thing is if
[756]
he doesn't mention it it's going to drop
[758]
way more than ten percent but because
[759]
people's expectation yeah
[761]
you're so sure you think he's got
[762]
dogecoin definitely dropped by more than
[764]
10
[764]
what really happened was the smart money
[766]
realized a lot of dumb money was trying
[768]
to buy in on the mania
[769]
and we're going to push for a dollar the
[771]
smart money got out ahead of the tsunami
[773]
of selling action
[774]
and the coin tanked with a lot of people
[776]
holding the bag i just love the
[777]
conversations surrounding crypto mania
[779]
see there's this guy who talks about a
[781]
coin on twitter he's going to appear on
[783]
snl and if he talks about this coin
[785]
then people are going to react a certain
[786]
way causing the coin to do certain
[788]
things
[788]
this is not investing my friends this is
[791]
pure speculation off of a saturday night
[793]
live event
[794]
can you imagine a large company stock
[796]
being tied to like sunday night football
[798]
see if tom brady throws for a touchdown
[800]
in the second quarter then the stock is
[801]
going to increase
[802]
if he doesn't that's it everyone all the
[805]
excitement's leading up
[806]
jack says the same thing jack's like
[808]
it's gonna hit a dollar and i'm gonna
[810]
i'm like everyone says that well you
[812]
wanna scram nailed it because he's
[813]
generally
[814]
a pretty conservative investor he saw a
[816]
grand slam gamble and was like sell sell
[818]
sell while you can
[819]
the funny thing about dogecoin is that
[821]
everyone was in on the same game
[822]
thinking they were going to outsmart the
[824]
other person
[824]
i'm going to hold until it hits one
[826]
dollar and then i'm gonna sell
[828]
yeah every single person who put money
[829]
into doge to help it get to 70 cents
[832]
had the exact same strategy this is a
[834]
greater full investment where you're
[835]
just hoping that you're the first one to
[837]
jump off the rug
[838]
before it gets pulled out from
[839]
underneath you so why are we talking
[841]
about selling you said you don't want to
[842]
ever sell right
[843]
facts no i do want to sell why when i
[846]
hit 10 million
[847]
but why but i want to sell 10 percent
[849]
the point is but the point is the other
[851]
9 million in there because that's how
[852]
much i believe
[853]
yeah but the point is to use it that's
[854]
the whole argument you're saying i want
[855]
to use it
[856]
yeah i'll use the 10 i'll use a million
[858]
to live with doge though why do you want
[860]
to convert it to the dollar
[861]
so i can buy a house one of the best
[863]
games to play in life is where a friend
[864]
asks you why
[865]
repeatedly because you get to the core
[867]
of your wants and needs i really hope
[869]
this guy isn't holding out for 10
[870]
million
[871]
so he can siphon off one million dollars
[873]
just to buy a house if that's his real
[875]
reason then he was already given the
[876]
opportunity
[877]
he had over two million dollars in doge
[879]
if he sells when graham told him to he
[881]
walks with probably one million dollars
[882]
after taxes
[883]
if i had that windfall i would buy two
[885]
500 000
[886]
houses here in vegas i know just the
[889]
area rent by the room would net about
[891]
three thousand dollars per month per
[892]
house
[893]
that's life-changing money around six
[895]
thousand dollars per month
[896]
net would surpass his current income
[898]
meaning he'd be able to invest more into
[900]
doge
[900]
every month than he does now while
[902]
having a safety net for the rest of his
[904]
life
[904]
and he'd owned two homes not just one
[906]
how would you feel if that were
[908]
in a month from now worth 300 grand
[911]
a few days ago andre told me to sell
[914]
when i was at 1.2
[915]
yes but that doesn't
[918]
make it right this is the joy of
[920]
investing in a mania when you
[922]
feel like the investment is going to
[923]
double by next week why would you sell
[925]
now
[926]
manias are powerful because it feels
[928]
like you can't lose and your decisions
[929]
will pay off
[930]
well what happens when the investment
[932]
drops fifty percent the next week
[933]
what makes short-term investing like
[935]
investing in crypto so difficult is
[937]
managing emotions
[938]
this guy had a winning lottery ticket
[940]
and held it out of principle
[942]
still contessato remains bullish on
[944]
dogecoin even though he isn't currently
[945]
a dogecoin millionaire on paper when i
[947]
went into this dogecoin investment i
[949]
planned on being in it for at least a
[950]
year he says i put in my life savings
[952]
because i knew i would eventually become
[954]
a millionaire
[955]
now he plans to hold the currency for
[957]
much longer than a year
[958]
whatever happens in the short term
[960]
doesn't matter to me because i'm looking
[961]
to huddle dogecoin for years to come
[963]
i'm truly not worried at the end of the
[965]
day this is why i have a lot of respect
[967]
for him
[967]
he believes in something and is sticking
[969]
with his plan even though i don't think
[971]
it's the right financial decision
[972]
the reason why i think most people
[974]
should not be investing in crypto is i
[975]
think there are better alternatives
[977]
crypto is great if you have cash sitting
[979]
in the bank and want to have a little
[980]
fun with the riskier investment
[982]
but seeing stories of millennials buying
[984]
altcoins with the only money they have
[986]
thinking it will make them rich is
[987]
disappointing right like if that's like
[989]
you playing blackjack
[991]
you're winning a hand we're like all
[992]
right let's go you're like no
[994]
you put it back in you win another hand
[996]
it doesn't mean that you keep
[997]
playing the hand okay i would i would
[1000]
sell on a heartbeat
[1001]
graham timed it perfectly imagine
[1003]
looking at your phone and knowing that
[1004]
you are a couple of clicks away from
[1006]
turning 188
[1008]
000 into 2.3 million dollars just two
[1011]
clicks away
[1012]
but for contesato volatility comes with
[1014]
the territory and if you can't stomach
[1015]
the fluctuations then maybe you're not
[1016]
cut out for crypto
[1018]
dogecoin is currently trading at around
[1019]
19 cents according to coin market cap
[1021]
with a market value of over 24 billion
[1023]
dollars
[1024]
from an outsider's perspective investing
[1026]
in a coin that basically relies on the
[1028]
news and
[1028]
whether or not people have enough cash
[1030]
to yolo into an altcoin doesn't seem fun
[1032]
to me
[1033]
i wouldn't be able to stomach the up and
[1034]
down swings personally so more respect
[1036]
to him for being able to
[1038]
my final point for this video is that
[1039]
losing money hurts way more than an
[1041]
increase in profits i lost all of my
[1043]
money with a couple house flips gone
[1045]
wrong
[1045]
and i can tell you that the pain of
[1047]
losing significant amounts of money
[1048]
is way more damaging than missing out on
[1051]
any increase in gains
[1052]
pro the doge hasn't necessarily lost
[1054]
money but his portfolio is down to
[1056]
around 800 thousand dollars
[1057]
he's claimed to have put 250 000 in so
[1060]
he's up around 320
[1062]
great investment if he cashed out now
[1064]
but a far cry from the 2.3 million
[1066]
dollars he had when hanging with graham
[1067]
and andre
[1068]
i'm glad he shows his portfolio and
[1070]
talks about the ups and downs to media
[1071]
outlets
[1072]
it's going to be really interesting to
[1074]
track his portfolio over the next few
[1075]
years as dogecoin either remains super
[1077]
volatile
[1078]
or stabilizes a little more hope you
[1080]
enjoyed the video thanks for watching
Most Recent Videos:
You can go back to the homepage right here: Homepage