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My name is Ben.
You guys know that.
Here's the thing, guys.
Today, we're going to be talking more about our investing philosophies.
And today, we're going to be tackling philosophy No. 1,
which is develop a long-term mindset.
This is so important in crypto.
And people forget about this all the time.
So we're going to be looking at three different kind of subsets,
three different ideas that really drive, you know, this investing philosophy
when it comes to what we are doing here at BitBoy Crypto,
how we are making money, where we're putting our money,
why we're doing that. Okay?
So, No. 1,
the No. 1 thing when it comes to developing a long-term mindset,
patience is key.
Patience is key.
Recently, I was on, I think it was Bloomberg Radio,
and they asked me, they said,
"You know, can you tell us about, you know, the long term for Bitcoin and investors?"
And I said a statement. I said,
"You know, if you look traditionally at Bitcoin,
you're guaranteed to win."
You're guaranteed to win if you hold Bitcoin or any other crypto,
not any other crypto, but if you hold your crypto portfolio for four years or more.
That's what the stats say.
There was a big report put out several months ago we looked at on the channel
that showed people that get into crypto
and stay in crypto and stay involved and do not unplug for four years,
they make dramatic gains.
Okay? There's a reason for that.
Crypto is a long-term game.
You have to develop patience.
Here's where a lot of people stumble, okay?
A lot of people want to get rich quick.
Now, here's the thing.
You can get rich with crypto quick. Okay?
What is quick?
You can get rich overnight in crypto.
It happens. It didn't happen for me.
I mean, I was talking about on the channel the other day,
if you think, it really took me nine years
from my first investment in Bitcoin to really get rich.
That was because of a lot of mistakes that I made early on, okay?
But the fact is,
you got this Dogecoin millionaire guy
who, you know, put--
he's not a millionaire anymore,
but he put money into Dogecoin
and then basically overnight became a millionaire.
You got plenty of people that sell NFTs. They get rich overnight.
That's the few and far between.
That's not the typical thing that occurs in crypto.
You have to have that long-term mindset.
But let's compare this to getting rich on the stock market.
It might take you eight years to get rich in crypto.
It's going to take you 60 years to get those same gains
on the stock market for the most part.
People work their whole life to put their stock money in a retirement account
so one day they can retire and have money.
Crypto is much faster than that.
Four, eight, 12 years,
these are the timeframes that people make a lot of money in crypto.
For me, like I said, it was nine years.
But we made it.
That's quicker than anywhere else!
But it's not going to happen overnight.
You guys have got to remember that.
Maybe it happens overnight for you.
But like I said,
that's the few and the far between.
Next,
the second thing that you have to keep in mind when you are developing a long-term mindset,
invest in stuff you believe in.
Invest in stuff that is going to be around.
Now, if you know the history of this channel, we certainly looked at a ton of smaller projects.
And I think maybe my messaging wasn't clear on a lot of this stuff.
There are certainly smaller projects that I've looked at and said,
"This could be a long-term hold. This could disrupt this kind of industry,"
and that will be a reason to look at getting into that project.
But for the most part, you should be using smaller cap projects,
if that is something you're interested in investing in.
And we'll talk about portfolio diversification in a later video.
But 5% of your portfolio, 10% at the most,
is what you want in things outside of I would say the top 200, top 150,
somewhere around there.
Vast majority you want in the top 100.
Vast majority you want in the top 10 actually.
At least about half or, you know, 30-40% minimum in the top 10.
Outside of that, you know, the top 20, you can be putting money in there.
This isn't a diversification video, but the point is this,
is that you only want a small percentage of your portfolio focused on these smaller coins,
on these smaller market caps.
It is okay to use coins like cheap hoors.
Okay? Hoors.
Okay?
Here's what I mean by this.
There are coins out there,
Shiba, for instance, fit this category.
Dogecoin, for the most part, fit this category.
At one time, SafeMoon fit this category. Okay?
Now, we never told you to buy, you know, SafeMoon on this channel.
We've always tried to steer you clear of that.
But the fact is,
a lot of people with that small, you know,
if they did it correctly,
with a small position in their portfolio,
they invested into some of these really highly speculative coins,
and they paid off. Okay?
But guess what, you're not investing in Shiba for the long term.
You're not investing in SafeMoon for the long term, okay?
You're not investing most likely in coin 1374 for the long term, okay?
You want to take gains and roll them into long-term projects
that you feel like are going to be around and be disruptive.
One thing I really like about Cardano--
which, by the way, Cardano has been in the top 10 basically since its inception.
You get all these people saying, "Ugh! Cardano sucks!"
It's done pretty well since it started.
But the thing is,
with Cardano,
you know, when it comes to disruption is,
you know, Charles Hoskinson says, you know, "We're not competing with Ethereum."
Everybody wants to pin, you know, Cardano against Ethereum
or Cardano against Solana.
He says,
"We're competing against Google. This is the level we're trying to disrupt."
There's a lot of other projects out there that have this mindset,
they're going to be around for a long time.
You know, when it comes to absolute long-term holds,
there just aren't that many.
I would put Polygon, Chainlink, XRP, Cardano, Solana-ish, Ethereum, Bitcoin,
and I know I'm missing some good ones.
Theta is another one I think is definitely a long-term hold.
So when you start looking at these projects that are long-term holds,
there just aren't that many of them.
So if you're in projects outside of those and maybe, you know, a few others,
maybe BNB, if you're into that, FTX or FTT, CRO,
if you're into those that are going to be around for a long time,
and you're investing in something outside of those,
you need to be rolling those gains into those coins that are going to be around.
It's okay to get gains on other coins.
Roll them in.
You need to create, and we'll talk about this portfolio, your ideal portfolio,
what you want it to look like in 5-10 years.
And this is how you do it.
So No. 3,
so we've already talked about
patience is key,
invest in things that are going to be around,
things you believe in for the long term,
and then No. 3, set goals.
You have to set goals when you're thinking long term.
Because too often I think people are so caught in the here and now
that, you know, what do they say?
You got one foot in the past, one foot in tomorrow, then you--
you have no feet in today?
I think that's what they say.
But the fact is,
you've got--
to develop that long-term mindset,
you have to actually do things.
You have to do things to develop that.
It just doesn't come naturally. You know?
Like, I think about--
I've been playing Madden a lot on the PS5.
And I'm just always playing the games.
And when I'm just playing the games, I don't really get better.
I do the same things I do all the time.
To get better and develop my game,
what I actually have to do is I have to go into practice mode.
And I hate it because it's boring.
Buy you go into practice and you do the things that you need to do to get better.
You have to set goals.
That's a way that you can develop the long-term mindset.
So what you have to do,
what I want you guys to do,
in the comments down below,
I want you guys to list three goals.
What are your three investment goals that you have for crypto?
I want to know. They can be anything.
I want to get an idea of what you guys are thinking.
So put those down below.
And something that helped me when I really was getting this business going was,
you know, every single day,
I wrote down five things I was thankful for,
and I wrote down 10 things that I wanted to happen,
10 things that were like dreams of mine.
Most of them have already happened.
You know, own a Lamborghini.
That happened.
You know, buy a building.
That happened.
Play in the World Series of Poker Main Event.
That happened.
Winning it is still on the list, but that's another story.
A lot of the stuff that I--
have a suite at the Falcons game.
That happened.
Like, these are all things I'm really passionate and I care about,
and I made them happen.
I focused on those goals every day.
So I want you guys to be thinking about that.
Drop those goals down below.
I want to know what you guys are thinking.
What are the things you want to strive for?
So alright, guys. I hope you enjoyed this video.
I think this kind of laid out this first investment philosophy,
which is developing a long-term mindset.
And then, you know, in the next video, we will be looking at the second one,
which is understanding market behavior,
which can kind of get complicated, but, you know, we'll be talking about that.
That's all I got.
Be blessed.
BitBoy out.