>he invested all the savings he had available from six years working for an investment consultancy in Northern England, or 10,000 pounds ($13,250)<p>He saved just $180 per month?<p>>he said Ether cost about $10 when he invested<p>So he got lucky by buying in early... not because of successful trading. Yet he gives advice as if he was an expert trader.
> “You’ve seen a bifurcation internally at many larger houses where senior managers are very skeptical about crypto, while graduates and younger team members are very positive,” said Grimsley. “The youngsters may have less intellectual baggage and may be more open-minded, but they also have less responsibility for managing risk and working out the practicalities of bolting on crypto to the existing business.”<p>It's a very telling quote and you are left wondering to which extend bitcoin suffers from youthful exuberance instead of the sometimes boring pragmatism of making it profitable.
They made enough money in a volatile unregulated market that their salaries seem minuscule. So, they go and burn more of their money in the same volatile market at this time. What can go wrong?<p>May be they took some money out of their quick earned profits, and saved enough for their life. The rest is what they are going out to gamble with. Now that doesn't seem unreasonable.
How do you trade crypto? I'm not well versed in this but find it fascinating. I mean, you can make a good profit of volatility on the way up but how do you profit when the markets are bearish? You go long/short on currency pairs? I bet there are dozens of different ways of profitably approaching these markets but I have no idea how people actually find a strategy and then decide to quit their jobs and day-trade all day every day without needing institutional money from accredited investors. Do you use machine learning to obtain insights that create those strategies?<p>If anyone knows good books on this subject, please do recommend them!
The brightest minds of our time dedicated to getting something for nothing while, according to recent statistics, nearly half of the American population has less than $400 in savings. Says everything about our sick society.