This was an excellent interview, Adam!
I've heard the advice many times that:
- you should never invest what you're not willing to lose or
- Only put a couple of % of your investments into cryptos.
I'm going to throw another idea out there:
- Invest what you (smartly) feel comfortable with into the crypto market. If you have been fortunate enough to have doubled. tripled, or have even done (possibly much) better, stop. Stop and cash out your initial principal plus a small profit, and now only keep your remaining profit in the market.
By doing this, you will now be completely protected from any meltdown that comes . You've got your initial investment back and you've made a good profit from it. Now everything else is just frosting on the cake.
Thanks! People need to look at most alts as gambling. That way they will understand what they are getting into and not end up in shock of the worst happens. Your advice is solid. The guests basically said what you said.