3 of my friends got filthy rich from cryptocurrency and it's straining our friendship. need advice

Humans are irrational and prone to hindsight bias, and as such they disregard all the times they made the right decision (or the lucky decision) in favor of dwelling on lost opportunities.

Listen, if you'd been in their shoes you'd have sold early. A million others did. These three were lucky and nothing more. There is no what could have been . Only what is.

You're sitting on 150k net worth? I'm sitting on 0. You're a bit of a d*ck, you know that?

Take a trip somewhere third-worldy. Go to your local soup kitchen and volunteer a couple days a week.

Understand how good you have it. Understand there is no correlation between finances and happiness past the level you're currently at. Understand there is always another cryptocurrency-like opportunity out there and get after identifying it.

They probably aren't your friends. Probably never were. Acquaintances only.

Very few people have more than two real friends in their entire life. Most have zero.

Rethink your life.

I remember when my childhood buddy made a fortune, stopped socializing with me, and only hung out with the almost uber rich. I didnt miss him and his talk about fancy cars and vacations.

When he and some of them got arrested for fraud and embezzlement they all separated and he asked me and other old friends for references and to speak to the judge on his behalf at sentencing.

I think what you're going through is normal. Youre not doing that badly, hopefully you're otherwise content. Forget them, hang out with people who make you happy.

Life isn’t a sprint. They’ll blow through their earnings and/or lose it when the crypto bubble collapses. Then they’ll be your friends again.

coach wrote:

I remember when my childhood buddy made a fortune, stopped socializing with me, and only hung out with the almost uber rich. I didnt miss him and his talk about fancy cars and vacations.

When he and some of them got arrested for fraud and embezzlement they all separated and he asked me and other old friends for references and to speak to the judge on his behalf at sentencing.

Did you say no?

Alert: Spammer trying to create interest in Crypto in order to create hype, demand, and boost the value of his/her holdings.

What I meant to say is, can you help me and tell me what I should do.

I have four friends who lost everything on crypto speculation and they are asking me to let them couch surf, or lend them money, in a couple of the cases.

In any regard, I feel just awful for them.

What should i do?

will twerk for tip$ wrote:

when I say rich, I do mean rich. Best guesses for the three friends are $5 million in profits, $30 million and close to $100 million, respectively. I know this because I've actually seen their brokerage accounts and have had discussions about their crypto holdings.

On the other hand, I am relatively poor (150k net worth and biking for Ubereats to make ends meet). I find myself growing distant from them, we have less in common, they probably feel the same about me. I can't afford to do the things they suddenly want to do.

I also feel a mixture of emotions, mostly sadness for myself for missing investment opportunities, some jealousy towards them, a little bit of anger.

I should talk to a therapist about this but I thought asking anonymous runners their thoughts would be a good first step.

Keep in mind that they have nothing until they get their money out of crypto.

Right now it's just a number in a account.

I believe they've all sold a good amount, around half or in that ballpark.

sbeefyk2 wrote:

Life isn’t a sprint. They’ll blow through their earnings and/or lose it when the crypto bubble collapses. Then they’ll be your friends again.

Possible, but I doubt it. Two of them are pretty introverted minimalist types. The third one, yeah he will probably blow it.

will twerk for tip$ wrote:

when I say rich, I do mean rich. Best guesses for the three friends are $5 million in profits, $30 million and close to $100 million, respectively. I know this because I've actually seen their brokerage accounts and have had discussions about their crypto holdings.

On the other hand, I am relatively poor (150k net worth and biking for Ubereats to make ends meet). I find myself growing distant from them, we have less in common, they probably feel the same about me. I can't afford to do the things they suddenly want to do.

I also feel a mixture of emotions, mostly sadness for myself for missing investment opportunities, some jealousy towards them, a little bit of anger.

I should talk to a therapist about this but I thought asking anonymous runners their thoughts would be a good first step.

I say play your own game. Crypto is a high risk, high reward game. What has a value of $5 million today, could be worth 1/100th of that in a week. They may stay uber rich, or with their willingness to take extreme risks, they could end up broke, trying to turn $5 million into $50 million.

You don't have to be friends with these guys, if you don't want. We often grow apart and that's okay. But I say, let it ride. Easy come, easy go. Sometimes slow and steady wins the race.

I've felt similarly about crypto, having passed it up. I see people "getting rich." But I keep plugging money away into the same safe stuff I have for 20 years and it's grown. I don't want to "risk it all" for a chance to get rich, because I worked to hard to take any chance of losing it all. But for people willing to take massive risks, I think it's only fair to let them enjoy it if it pays off. Because such people tend to get burned, burned and burned bad in their lives. Because they're big risk takers. It pays off big when they win and it blows up BIG when they lose.

Stay the course. Play your own game.

People are narcissistic and crappy. Those friends will distance themselves with you either because “bigger and better” presents itself aka, (“you gotta keep up the hustle queen, toxiccc ppl an losers cant holds u back girl keep at it king”.

OR, maybe they’re becoming distant because you’re coming across as jealous and strained.

But I’m willing to bet that it’s mostly the former, people are always placing new dopamine and status-stimulating opportunities ahead of loyalty.

If they're truly rich, they'll probably be in Cali, Florida or Texas by the end of the year. Or in Vegas. There's still time to join the crypto boat. Bitcoin ain't ten dollars anymore but there's other avenues. Some people will be opportunistic and win. Others (the careless or misinformed/uninformed ones) will lose.

Anyways, I love crypto and love the fact that the big banks and government (they want transparency and their tax money) are getting their panties in a knot over it.

Steve The Addict^^^^^^^------- wrote:

If they're truly rich, they'll probably be in Cali, Florida or Texas by the end of the year. Or in Vegas. There's still time to join the crypto boat. Bitcoin ain't ten dollars anymore but there's other avenues. Some people will be opportunistic and win. Others (the careless or misinformed/uninformed ones) will lose.

Anyways, I love crypto and love the fact that the big banks and government (they want transparency and their tax money) are getting their panties in a knot over it.

Two of them recently moved to TX

The third and "poorest" one is still nearby

I don't think Bitcoin is on their radar. They trade obscure coins that have 50x returns in a matter of months

Please name the coin they bought. If LRC all buys in we can keep the pump going?

will twerk for tip$ wrote:

when I say rich, I do mean rich. Best guesses for the three friends are $5 million in profits, $30 million and close to $100 million, respectively. I know this because I've actually seen their brokerage accounts and have had discussions about their crypto holdings.

On the other hand, I am relatively poor (150k net worth and biking for Ubereats to make ends meet). I find myself growing distant from them, we have less in common, they probably feel the same about me. I can't afford to do the things they suddenly want to do.

I also feel a mixture of emotions, mostly sadness for myself for missing investment opportunities, some jealousy towards them, a little bit of anger.

I should talk to a therapist about this but I thought asking anonymous runners their thoughts would be a good first step.

Ask the $5M guy to give you $50K, the $30M guy $300K, and the $100M guy $1M to mitigate the income inequality. Explain to them that it’s a 1% friendship tax.

big daddy wrote:

Please name the coin they bought. If LRC all buys in we can keep the pump going?

They've been investing since 2017. Keep trading up and up.

Two altcoins had enormous returns this year - Solana (SOL) and FTX

Yo buy Litecoin i just bought over 200 litecoin and it's like 200 bucks a coin right now. It has immense potential. The coins that make it longterm will get people rich. Many other coins such as Doge will go to zero. But you can still make money buying and selling Doge at the right time.

0/10

You try way to hard to troll.