1/ # Known unknowns and profit taking

Recently there was a CT moron commenting on the threads saying how its dangerous because it doesn't involve the use of stablecoins.

A few people have read these comments and gotten confused, especially around what 'taking profits' means.

2/ When the threads refer to 'taking profits', they mean taking money out of crypto, to FIAT, and not putting it back in.

3/ They are not referring to selling something your up on and moving the funds to stablecoins to use again elsewhere. Why? Because theres a high chance youre going to use those stablecoins again in another trade and lose those 'gains'. Thats what happens to most people in crypto.

4/ Profits aren't profits until they are realized in the form that matters, FIAT currency in the bank.

Anyone who suggest they can predict BTC or when the market moves, and use stablecoins to gain profit or avoid losses is a complete clueless idiot.

5/ If you see anyone talking like this, "I went to stables in Jan because my analysis of X,Y,Z showed correctly that we'd experience a downturn", you have found a moron.

6/ These people are deluded enough to believe that they can do what global financial institutions with vast resources and funds could not. If it was true they should be in a global financial center making billions of dollars with their gigabrain analysis.

7/ The people who 'get crypto' are not the ones who think they know everything or can predict everything, especially things like when the market moves.

8/ The ones who get it are the ones who learn to identify unknowns and accept them as unknowns. The deluded moron thinks they can turn that unknown into a known. When they do this, what theyre actually doing is introducing delusion and risk into the plan.

9/ This concept of accepting unknowns isn't just for when it comes to the market, it can be other factors too such as how token unlocks will go. An example of this is the $METIS unlock from Feb.

10/ Anyone who follows my tweets for the last 3-4 months will know that I consider $METIS to be a good play for the $ETH 2.0 / EVM scaling solution narrative and that I think it will go into the billions of MC in 2022.

11/ In Jan I warned that people shouldn't assume that it will drop because of the unlock as history has shown that the PA on these types of unlocks doesnt always go as people think...

12/ due to the team 'doing things' to counter it and that if someone was in it with a view to riding it up the ETH 2.0 narrative, they should take that unlock as an unknown and stick to their plan.

13/ What I warned could happen, is what happened. The price didn't drop (it in fact pumped 40% through the unlock), and has stayed largely the same since the $BTC crash of Jan 19/20.

14/ 'Getting this' is a skill that comes with experience in crypto. Don't try to be a gigabrain. Keep it simple. Stick to what you know, identify what you don't know and then make a plan that takes those knowns and unknowns into account.

15/ This is why I use adopted platforms to derisk instead of stables. As you can see from the image below, the strategy involves basing yourself on the left and moving out to right depending on your skill and the market conditions, along with taking profits to FIAT at milestones.

16/ In this way, when the market comes around, not only will your holdings still be relevant, youre also going to ride the market up and be in a position to move some funds towards the right hand side as the market conditions allow (and your skill level).

17/ Meanwhile, all those gigabrains that predicted 20K BTC and who are now sweating because they went to stablecoins at 37K $BTC and now still worrying about what to do, praying the market drops.