Poker Players like @Fiskantes have an advantage in Crypto

Because they are mentally prepared for volatility.

They understand Expected Value.

They understand how to deal with "Bad Beats".

My basic explanation (Thread): https://twitter.com/safetyth1rd/status/1299936388465319937">https://twitter.com/safetyth1...
1/ In regular life, we are used to cause->effect

Do things well, get good results

Do things poorly, get bad results

But in situations you don& #39;t completely control

Such as a poker game, or crypto market

This type of thinking can destroy you.
2/ Successful Poker Players are used to this.

In Poker, you can& #39;t control the results

You can only do the best you can

Given the information you have
3/ Sometimes you will do things right and win

Sometimes you do things right and still lose!

This is called a "Bad Beat".

If you don& #39;t recognize it, it can wreck you.

You will feel terrible, question yourself

And make worse decisions.
4/ The way to get around this is to recognize

Not everything is in your control.

Understanding Expected Value also helps.
5/ Expected Value is the expected result over time

Of a financial decision with a random component.

When you don& #39;t control all the results

You can& #39;t expect every good decision to win.

The EV framework helps you understand this.

https://www.cardschat.com/poker-odds-expected-value.php">https://www.cardschat.com/poker-odd...
6/ In crypto/defi we have much more information

Than in Poker.

Nevertheless, we still don& #39;t have full control over results.

Do your best, learn about EV, know how to manage risk

And you will be able to deal better with "Bad Beats".
7/ and btw, a "bad beat" in DeFi right now

might not even be doing poorly

But just doing worse than someone else.

Or missing out on a huge pump.
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