Real knowledge is to know the extent of one's ignorance - Confucius
Sooner or later we all come down to making important decision throughout our day and lives.
Who we date, have sex, what we buy, where we go, what we study and right now...where we put our money.
Perhaps the cryptoverse is full of shit but this doesn't mean that there isn't underlying value beneath the surface.
Realistically speaking probably 1 out of 100 projects really has a chance of making it alive in the long run.
This is the wild west, and you require a framework of thinking. This is the first step to avoid acting on hunches.
Like it or not investing is a game of luck for one simple reason...you can't play to lose voluntarily.
So anyone else who tells you otherwise is probably about to scam you with a secret trading or investing system.
What can you do?
Well, you can at least read the white paper, research the team, evaluate their execution and timing (which is really crucial, you don't want to be investing in something that is too beyond this time...like Pet.Co back in the day)
Financing is still important but compared to the first four factors it ends in last place.
However, this guarantees nothing!
Remember that the success of big companies, although it has an element of skill in it, it also about luck.
The premise of a black swan is that it can't be predicted.
Nonetheless, having a framework allows you to eliminate the obvious nos and if you fail picking a winner at least you can have peace of mind that you did all it was available with your resources.
Free Read
Thinking Fast & Slow by Daniel Kahneman
Crypto Stuff
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