217. Are You Making These Crypto Investor Mistakes? Stop Now And Profit!

I think in crypto there's not really always like a blueprint to success because it moves so fast. But when you have so much data and you see who's winning, who's not, you can kind of collate a lot of that and help sort of put together really like one of the key things that a lot of people make mistakes of and it's quite common.

And people really overestimate what they can achieve in one year and severely underestimate what they can achieve in 10.

The only reason you won't make money is if you fuck it up and you panic and you do crazy shit, right?

You accelerate your wealth through investing and then when you build up that asset, which happens to be crypto or cash, you then trade it for another asset, whatever that may be.

Welcome back to another episode of the Bennebergs podcast. I'm Ben, your favorite high school dropout and founder of Collective Shift, alongside Ms. Bergs, your favorite MBA and CEO of Collective Shift. We're here to bring you world class crypto research strategies and insights to help you crush this crypto bull market. Plus, get an exclusive behind the scenes look as we scale Australia's leading crypto research company. And if you like the podcast, we'd love for you to share it around with a friend, family member, fellow crypto degen how we grow the podcast coming to you each and every week with no sponsors. And we've had a bit of a week off because I was traveling, gallivanting the country on our road show. It was so awesome to meet so many of you, Ben and listeners. I met so many from Adelaide, Brisbane, Sydney, Melbourne. We had people rocking up in their Benneberg shirts. There was a protest that they wanted more merch. So we're trying to, we're trying to do some there something there with the kiss my assets tops that were all right, killer BGs. Everyone loved those.

How good, mate? Going to have to open up a little merch store and then send a bunch to our members, bro.

Yeah, I think we have to set up something. But it was awesome to see everyone in person and the biggest feedback we got from you guys as listeners, because we had members, we had Benneberg's listeners, we had my Instagram followers, YouTube followers, like whatever. It was bit of a, you know, platinum members, it was a bit of a licorice all sorts. But the Ben and Berg's listeners who came up and spoke to me were like, they'd introduce themselves as Benneberg's listeners, which is first of all epic and that I'd always ask them, why do you like the podcast? What do you. What, you know, what, what do you love about it? Why do you listen to it and how can we improve it? And what we heard from you as listeners was that you just like the authenticity, the. No, you like that it's value driven, like you actually learn something. But it's also not like an absolute, you know, sort of just pile of garbage. Yeah. Waste of time.

Let's be honest, mate, the first question they asked you is just, where's Bergs?

No, they're just like, oh, I think fuck, Burgs isn't here. We can just have to do it. The real reason we're here. What a stitch up on that point though. They, you know, I think that was something we've also learned along the way and listening to our listeners as well is that you get different perspectives from myself and yourself, Burke. So like, you know, whether, you know, you're in, in the stage of life when you're, you know, building property, you got family, married, all that sort of stuff, versus, you know, maybe you're still on your personal growth journey a little bit younger, you don't have those sorts of sort of, you know, family commitments and things like that. Different risk profiles, obviously, different backgrounds, different experiences. You spend a lot more time in different areas of the business in crypto than I do. So it kind of works. It works. Well, believe it or not, I think it does too.

And it's just, you know, I'm out there dominating. You're just far, far behind and I'm just trying to pull you along, mate. Everyone sees it, it's all good.

Well, it's actually being, being nice. Most of the value is driven by myself. So I was actually going to propose we just call this the Ben show and just all move on. But that's okay.

Well, you constantly do this self rate, 5 stars. If we had only one other opinion, you would just see how wrong you are. No, but serious, honestly, like, you're spot on. Where, like I'm in a completely different stage of my life. I'm 15 years older than you. And it works so well because we can feed off each other, first of all, we do and like different things in the business. It's almost like, you know, that yin and yang and we just work together perfectly. We've got the same shitty sense of humor, the same values. We want to achieve the same things. And then I learned from you about how to live my life differently, how to get after it. And you've not Been indoctrinated through, you know, university education and corporate, you know, working in corporate for like 20 years and all the bullshit that you learn there, you're like, no, this doesn't make sense. I'm going to live my life like this. I'm going to do it like that. And I'm like, holy fuck. And then I have to unlearn all that stuff to then move forward and live my life in a better way. And I'm still learning that from you every day. And it's bloody exciting.

Yeah. I mean, I've learned from you that.

My, like, journey is not normal. Because I know that kind of sounds weird, but, like, I haven't come from a corporate background, never worked for anyone. Just through naivety. I probably ended up where I am now from not having those rules and boundaries.

But I think that's kind of. That's what works in terms of the different perspectives, too. Like, even from your crypto investing strategy, for example, I would say you're far more hands off long term. Don't, don't. Don't really give a about the short term and neither do I. But I'm literally in the weeds every day in this space doing strategy and helping people and assets and, you know, so we've got those different perspectives as well, which is, which is cool.

Yeah. You'll take advantage of short term opportunities, whereas I'm like, ah, I've got so much life stuff to do. I'll just leave that. Just go long term. It's easy and, yeah, relatively hands off for me once I've got it all sorted.

Yeah.

And you're right, like, with your life, like us as humans, we think, oh, everyone's like me. Everyone knows the things that I know. I'm just very common. But then, like, remember we sat down with Trav and it's like, Ben, on this graph, you are here, like, these are other people your age. This is what they do, what they earn, net worth, all that kind of stuff, the jobs they have, how far they are in their careers. And you're like, oh, okay. Because you hang out with all these people, like El and everything that is similar to you because you want to get after it. A lot of them are quite older as well, and you're a lot younger than them and your trajectory is just completely different and insane. It's a very. I would even say you are uncommon amongst uncommon people.

I'll take that. I don't know. It's a compliment, bro. I think what I learn most from is other people. And you Know that's kind of the topic of today's discussion or sort of content is around the mistakes we are seeing people make. And I have such a huge access of data with people from my followers to members to you know, the road show, speaking to people in person. And like I do one on one strategy sessions with our platinum clients. Like I see the good and the bad and you know, I think in crypto there's, there's not really always like a blueprint to success because it moves so fast. But when you have so much data and you see who's winning, who's not, you can kind of collate a lot of that and, and help sort of put together really like one of the key things that a lot of people make mistakes of. And it's quite common this list that we're going to go through. So. And we even see in the platinum group, right like you see it live, like sometimes you wouldn't even need to, well, you don't, you don't even need. Sometimes I won't even check the crypto price. I'll go to our platinum chat and see what people are talking about and how they're talking and I could, I could tell you what the price is doing.

You can, you can almost guess the bitcoin price and total market cap just by sentiment. And you're right. We've spoken to thousands and thousands of people and these are the very common mistakes that they make. We can highlight them to you, you'll learn them. Do not make these mistakes and you will accelerate your journey by years. Ben and I have made all of these mistakes. We don't anymore. And we teach people to avoid these. What they look like, how they crop up, what you're going to feel and how to overcome them. Mate, let's jump straight in.

Let's jump in and we're gonna, we're gonna start I think in probably, I mean a lot of these are, they're all important. But like I think the big one in terms of actually making money in crypto is the exit strategy component. You know, I think just a common mistake I see people make is they go into a bull market blind and no real plan to sell. And that exit strategy is bigger than just an exit strategy, right? It's, it's, it's what you're selling, how you're selling it, when you're selling, how much you're selling, why are you selling it. Like there's a lot of different psychological reasons why or why, why you won't do something. Like you can have an exit strategy. But what again what most people do is they get to that point and then they move their targets. So there's a lot to that. But just having goals, having an idea of what you want to do with crypto and a big thing that I continue to tell people and like try and educate people on is like for me, crypto is a vehicle to help you achieve the things you want to do in life. It's not the Olympic Games where you get a gold medal for picking the top and the bottom. Like you, no one gives a flying fuck. Like, like, you know, well done. But what, what, what actually ends up happening is you miss it because you're, you get greedy and you don't have that, you know that, that exit plan in order and you know your round trip. And that's what most people do.

That's right. And it's like, oh, I called the top five years ago. It's like, well great, no one cares. Or I had a plan, I exited, I got my money and now I only have to work one day a week. Amazing. That is completely life changing. And when people come to us, the common thing we get is I've got X amount of money, what do I buy? It's like, well hold on, what do you want to achieve here? Like what are your goals? And you're spot on saying, oh, I've got a number. Let's say my number's $5 million. Well why, and when you get to 5 million you're probably just going to go, Well, I want 10 million because you've not tied it to anything. So we've got like a seven step strategy guide. I think it was ten, now it's down to seven on our website. Go through that on collective shift because you need your goals. We why are you investing? What number do you want to get to? Why do you want that number? What are you going to sell out along the way to achieve those specific goals? And the goals might be buy a bike, get a car, get a deposit for a house, eventually all the way up to I don't need to work anymore. And there's different ramps that you can get off at. You can de risk at different points. And when you achieve those goals and get the money, the money is just a tool to do things in your life. When you start doing those things, that's when you really start to succeed. Having a bigger number on paper or in the bank does not matter. You need to actually utilize this. So tie it to a goal and a timeframe and a Risk profile. And then you can start thinking about, okay, which investments will help me achieve this.

And also, it's not easy to take profits. Like, you know, when you've made life changing amounts of money. Like a lot of you guys probably haven't done that, or maybe you have. It's scary. Like, I remember when I sold, you know, a lot back in the sort of metaverse days. Yeah. I, I, you know, took a lot of profits and it feels nauseating. Like I felt like I was going to throw up. Like, because you basically every day your profile, your portfolio is going up and at, in the time you're like, why am I selling? Like, this is never going to go down. And you know, looking back, some of those projects are probably down 90, 95. I don't know, like, no one's in the metaverse anymore. Right. But at the time it's like, like no one's going to be living in the real world. It's all going to be the metaverse. You just, you get sucked into the vortex.

And this is the thing. You don't really need the top to get out. You don't need the bottom to get in. And when you're selling, you would have been shitting bricks. Am I doing the right thing? Is there enough liquidity? Am I going to miss out on getting a billion dollars? And let's have an example. That specific project you sold, if you had a thousand dollars worth today, it would be worth a dollar.

Yeah.

Literally, that's how much that has gone down.

Yeah.

And because you sold that, you were able to change your life. You were able to get this business, build this business, hire amazing people like me, which just changed Ben's life, you know, just for the better. Just so much alpha and value.

I can afford therapy because working with.

Ben, that's, that's the other side of all the stress. I need to go to therapy all the time. But it's true. But think about the human. Think about the human you are now and everything you've learned and what you're doing in your life versus that person before. And you use that money to put it into a business to then completely change your life.

Well, that's the goals component. Right. And that's, that's the big part. Like, why are you selling? For me, you need to have a emotional reason to sell. So you logically sell to get that emotional goal. And I know, let me just quickly reiterate what I'm trying to say here is you need to, in my opinion, have a tangible reason to sell. Your crypto because you want to go and achieve something like paying off your mortgage, paying off credit card, buying a house, whatever. Because if you don't have that, there's not enough power in your mind to want to sell your crypto because there's no reason to sell, which means you miss the opportunity of the time to sell and you think it's going to continue going higher forever. And it doesn't work like that. And then six months down the line, the markets retraced 80% and you're back down to square, like probably lower than where you started.

This is exactly it. And all you're doing is you're trading one thing for another, one asset for another. Say you want a $40,000 car and you got $1,000 and let's just pretend you don't want to get a loan. I can't afford it. So I invest my money and over time that starts to grow. When I get to my target, I then trade that investment for the other thing that I want. That's simple. You accelerate your wealth through investing. And then when you build up that asset, which happens to be crypto or cash, you then trade it for another asset, whatever that may be.

Perfect. I think the next one that I want to touch on is probably something that's a little bit more.

Relative to probably the last three or four months is not being patient enough. So, like if we, if we zoom back November, Trump elected, everyone was super bullish. We all going to the moon, know, us included. And it didn't go that way. Right. We had tariff wars, we had this, that and the other economy, this. People started to lose hope. And then over the last sort of three or four months, people starting to throw in the tower market retraced. Oh, it's all over. We missed the top this, like I missed it again. And people get impatient. And I think what we've seen over the last few days or last couple of weeks is like a huge rebound across, across the board. You know, bitcoin's back up above 90,000 at the time of recording. You know, Sui Solana even es up. Right. The market has rebounded. And for what most people do is throw in the towel when we get those big, those big corrections, because they haven't made a 3, 5, 10x in a year. Right. It's not as easy as that anymore. So not being patient enough and, and worrying and getting overwhelmed in the short term is a big problem. You really got to zoom out. A lot of people get too caught up in the micro.

Exactly. Right. And people expect this linear path up. Only Trump's in. It should. And I'm going to be rich tomorrow. That's not the way it works. And if you think, look back to like 20, 17, 18, Bitcoin was what, 20 grand? And even in the following years. So in the last like five years, you would have quadrupled your money. And people really overestimate what they can achieve in one year and severely underestimate what they can achieve in 10. I'm not saying 10 year has to be the goal, but if your goal is one year, like, that's a very short timeline. Why not make it easier on yourself? Make it at least one cycle, four years. And think longer term. Don't be so stressed. Don't make those moves because when you're emotional, you're not going to be making good decisions for your portfolio. Yes, you need to think longer term. Look at this as opportunities. I saw this guy I follow Caleb Hammer, and he's just like, oh, like, why did you do that? He's like, they're like, oh, but the market's down. He's like off. The market's down a week, great. If it's down a month, oh, it's down a year.

Oh.

Because he's just thinking about the low buy prices he's going to get for those following years where the market is going to do really well and it's just going to accelerate his wealth. And if you have that mentality where this is an opportunity, you're playing a longer term game, your life becomes easier and making money becomes a hell of a lot easier because you won't make these silly mistakes jumping from coin to coin.

Yeah, you bang on and then. And by the way, like, I'm probably the most impatient bloke there is. So, like, I get it. But one thing I've learned in crypto and investing is you'll make money. Don't. Like, the only reason you won't make money is if you it up and you panic and you do crazy, right? If you are patient enough and you wait long enough, you will be rewarded. And you know, the, the ne the next one in terms of the mistakes we see people make is not taking advantage of opportunities where the market's retraced. Right. We've seen extreme fear in the market for the last three months. And, you know, not to toot our own horn too much, but we nailed it. Like, you know, I made a, I, I basically had a, you know.

Cash on the sidelines. I was willing to invest. My strategy was A dollar cost average. I picked two moments. One was a month ago, the other one was three or four days ago. And it was selected based on, you know, it was a bit more weighted at BTC a month ago. Recently was, was more weighted at alts. And some of those altcoins are, you know, SUIs up, I think 70, 70% in the last two weeks. Series syrups up, Solana's up, like we're up like sort of 30, 40, 50% in the matter of, you know, two weeks, three weeks. Yeah, and that's pretty crazy to think because if you're able to take those opportunities and reduce your buy price and you and you can get those better entries, well, then you're going to make a lot more on the upside. But where most people go wrong is that they give up or throw in the towel or get bored or disappear when it's down. And then when the market's pumping, guess what the number one question I get is, oh, what should I buy now? It's like, well, what about the last three months?

Yeah, that's exactly right. And to illustrate this, if you've got 10 tokens and they're worth $10 each, the price goes down to $5, you buy another 10, you have 20 tokens, your average buy price is $7.50. So you've gone from an average buy price of $10 to $750. And if you can drive that price down over time, where you accumulate more, the more profits you will get. Whereas if you just sit at that high price, you're just sitting there and you're waiting. And this also assumes that it's still a good investment. And this is something you know you still want in your portfolio. But that is one of the best ways to accumulate wealth over time by driving that price down. And really the best way to illustrate this is jump into your super fund. No one logs into the super fund. Go and log in. Right. You'll be in some like medium growth, high growth, low growth portfolio. And look at that chart over how long you've been working. It's up and to the right. And if you zoom into those charts, you'll have even years that are like right down, like Covid and then back up. These are significant opportunities that you can take advantage of. Even in your super fund. It'll say out of every 10 years, two to three years will be down years in this portfolio with those down years, that is why you want to have cash on the sidelines, so you can scoop things up when they're Cheap because you know they're going up over time for the long term.

Yeah, yeah, yeah, bang on the. The next one is probably just. Yeah, I think to that point, BS is that portfolio allocation is a big one and I, I'll merge to here. But three points. One holding too many altcoins, holding the wrong altcoins and then also not holding enough bitcoin. So really what a lot of people I see do. In fact what I see primarily is people with less money will buy more altcoins and the people that have more money will buy more bitcoin. Right. And you know, there's probably a few different reasons why you could guess why that is. And I think.

I think if you really.

Break it down, like trying to grow your wealth in bitcoin, long term is the play. But the people that really want to try and return a lot more faster will go for the old coins. But if you look over the last two years and just held bitcoin, you would have outperformed everyone. So you've got to be, you've got to be really careful this time around with the altcoin sector because there's literally hundreds and hundreds of thousands more coins created than ever before. And the altcoin market cap didn't go above previous all time highs. Right? So you've got the same amount of capital, same amount of demand, but you've got literally millions more coins than ever before. So the reality of the situation is there's going to be far less, far fewer coins that will actually return what you'd hoped versus previous cycles. We could just basically hold anything and everything will go up. The hope and the pray and hope spray strategies doesn't work anymore.

Spray and pray, spray and pray, that's it. So, and think about this like if you have a comparator, someone that has $5 million net worth, they've set up their portfolio majority bitcoin, a few altcoins. I felt this previously like a while ago where I need to get there very quickly. And so you take on a lot of risk so you can get there quickly. That is one avenue to take. But with that risk there's extremely high chance of failure. And I think a lot of people just need to accept that. The secret ingredient in all of this is time. Right? It's definitely getting the right portfolio structure, understanding what you're investing in and having a good strategy both in and out, but also adding time. So if you want to accelerate things really quickly, yes, you can go down that path and sometimes you'll be successful. But there's a high risk of failure and you don't need to keep up with the person or match that person that's got $5 million. Start where you are at today and compound day after day, year after year, decade after decade, and your chance of success goes absolutely through the roof. It's how to get rich without getting lucky. And this is in any market, not just crypto. Crypto is an exciting market because the returns are much higher, even for things like bitcoin over any other asset on the planet.

Yeah. And I mean, at the end of the day, you're probably going to get 30 or 40% annual growth on bitcoin, plus and minus volatility for a long time. It's pretty good.

In like the last month, bitcoin would have returned the entire S and P of last year.

Yeah, literally.

Which is just crazy. Like we look at this growth in crypto and if you're getting last year S and P in the states was like 20%. I think ASX was around 15. If you're getting higher returns than that, you are the best investor on the planet.

Yeah.

Like if you're getting 20 to 25% returns, live there. That is amazing. That is incredible. And just so you Understand, at a 7% yearly compound annual growth rate, every 10 years you will double your money. At 20% is something like four years or something ridiculous. It's absolutely insane. So just step back and realize where you're at and let time and everything else just do the work for you.

Yeah, risk to reward is a big one there. Back to portfolio allocation. You don't need to bet the farm because usually betting the farm means you lose the farm. So just.

Yeah, that's it.

You picked up a couple in the, in the platinum chat around like all.

Or nothing mentality, 100% mate. So you're, you're notorious for this, mate. Especially in business. Not in your investing, but definitely in business. Like, oh God, do this. All this might know. They're like extreme outcomes on both sides. There's like a million ones you can choose in the middle. The classic one we get is should I trade X altcoin for Y altcoin. And if you think about this, first of all, take a barbell approach. Have a lot of bitcoin on one side and some layer ones and then have crazy alts on the other side with a small allocation of your portfolio. And it's never all or nothing. I don't need to trade all of my stuff for another thing. Like I don't have to go all JB hi Fi. I can own JB hi Fi and Harvey Norman and like all these other ones. If I to I can take a huge basket of goods. So there's so many things. Let's take the classic one. Should I trade ETH for sui? And regardless of the fundamentals behind it, I've just chosen those names options. You can trade all of your ETH for sui, you're no longer exposed to eth, you can keep all of your eth, you get no exposure to sui, or you can sell some of your ETH and buy sui. Or you could just accumulate some SUI and have both. And you're a big proponent of owning multiples of these tokens. Ben. So you've got a horse in the race.

Yeah, 100. It's not, it's not one or the other. Like and, and I made this trade like nearly a year ago. I had a lot of eth. Still do. But what I did was I offset that ETH with Solana and SUI because I thought that Solana Sui probably going to outperform and, and, and that was. Turns out to be right. But you don't need to sell the whole bag for another bag. Like you know, it's, it's more, you're looking at allocation and you look, you need to look at the entire portfolio. You don't need to be all in on one or all out of the other.

Yeah. And then even look deeper, get really advanced to say okay, I've got 10 8th and three of them are actually underwater. They're at a loss. You can loss harvest those and allocate to something else. Or I've got ones that are in profit and I've got a 12 month CGT discount. So I'll sell those ones. And it's really just making sure comfortable. If you've got this uneasy feeling about your portfolio and I'm holding too much ETH or holding too much cereal, whatever it may be, insert your coin here, step back and think about it. What would make me more comfortable? How would I sleep better at night and what would resolve that? I guarantee you it is not selling your entire bag of whatever you're holding. Because then you have the opposite problem of I'm not exposed to this thing. It is generally somewhere in the middle of I'll get a little exposure to this other thing. Now I can rest and I'm comfortable and both of these horses are racing for me.

Yeah. Bang on. Also I think that another one that you sort of, you know, tied in here, but it's around like knowing your edge and not trying to be something that you're not. I find that really clear in my mind around why I don't invest in stocks or, you know, markets I don't understand. My edge is in crypto, right? But for a lot of listeners and probably a lot of people, you know, listen to the podcast, your edge is probably us, right? Or you've got an edge and then you have come to us for confirmation or you come to us for new ideas. You're looking for your edge. This is a market, it's a two way street. It's not a computer game. Like you're going to win and other people are going to lose or you're going to lose, other people going to win. That's the only way markets work. So understanding your edge and investing in areas you understand or you can get information that will help you win is the key to success and that, that tying back to like again. What we do at Collective Shift and trying to help people with that edge by following what we do ourselves is like fundamentally a huge advantage.

I believe humans have two main things they need to do in their lives. One is know thyself, and the second is help each other get home. And you need to know yourself. And when you start out, that'll be like anything. Like, I'm starting to do mountain biking, right? So I'm going to go, I bought a new mountain bike. I'm going to go up in the hills and I've done trails and stuff before, but never crazy stuff. I'd like to do some crazy stuff. So what do I do? I go and I get a coach. So I'm going to sign up for a coach and learn how to do stuff so I don't break my face going down a mountain bike hill until I get to the point where I understand. But even right now, I'm buying a bike and I'll just get a starter bike. I don't know what I need, right? Because I don't know what type of mountain biker I am. Hell if I even like mountain biking. So I go up there and then I'll get a coach, which is the equivalent of like collective shift for investing. And I start to go and I'll understand what types of flow I like. Do I like jumps? Do I like downhill, Do I like endurance? And then I can start to upgrade my bike and I'll understand what I like and my edge and my advantage in crypto. For me, I started investing, I bought lots of ICOs like everyone else made Some money, lost a lot of money. And then there were trading opportunities or things like a lot of flash crashes in 2017, 18. So I put trades on quickly learned I'm not a trader. I don't like to sit in front of the screen. I don't like to be stressed. I don't like to waste my life. And it took me a long time to learn my edge, that I have diamond hands. That is my edge in the market. In my brain. If I have $1,000 to invest, I, I'm investing it, it's spent, it's gone great. I made my decision. It's. It's allocated against my portfolio. I've accumulated against it. Let's go. And I could not touch that. Even if that goes from a thousand to nine hundred to eight hundred to seven hundred, as long as the fundamentals hold, I can stomach that all day long. And that is my advantage over everyone else in the market. So I only invest long for things that are going to be long term. If there's a short thing that's like, oh, get this in the next two weeks or one hour or one month, I'm like, nah, that's. Don't want to hear it. I know that is not for me.

Yeah.

And that has served me so well.

Yep, yep, Love it. And, and also I think a lot of people probably in the same, probably in the same boat, but where, where I generated my edge was from, from our research team and like, you know, having a weekly research meeting that we talk about the markets, we have full time analysts that are looking at the space. And then guess what, I'm acting on that information because again, I'm doing this for me at the end of the day to then send that information back out to everyone else. Because if I'm doing well, people are following what I'm doing and that's where we make money. And that's where we found, you know, Sui Solana Mac got in at Solana, $22, like syrup, $5. It's now at 17. Like there's so many examples of research that has helped find good undervalued assets. And by the way, that is from like on chain fundamental analysis, like deep things that we're looking actually at the, at the market. Not just fucking crazy technical analysis, squiggly lines.

You know, talk about the one where you made all your money, right?

Yeah.

How'd you do that? You. That was through research. And then what did you do? You went in and looked at the product and what did you think of the product?

It was dog.

But it was, it was, it was a perfect, perfect like playbook of crypto where it's like.

Speculation takes over and humans, Human greed takes over. And the valuation of some of these metaverse projects back in the day was just ludicrous. And you go into these projects and you'd have a play around, you're like, what the fuck am I doing in here? Like, what is this even?

And you had conviction, you put in. I remember you're saying an uncomfortable amount of money in there. In real terms, it wasn't a lot of money, but for you, as sure as shit was for like a 20 year old guy, that was a lot of money. And you went in there, you invested, it's like gone through the roof. You're, oh, great. I actually should probably check at this. You went and looked at the project, you're like, no way is this worth like X billion dollars. You're like, fuck, mate. It's like, I remember, it's like a uni kid could probably build it in an afternoon. It just didn't match up. And you're like, all right, I'm out. And just going to that level of depth and understanding the project, where it's at if it's overvalued. And you. One thing about you, Ben, is you are willing to pull the trigger immediately with new information. That is not something I'm willing to do. I overanalyze things. That's why I go long term and I look for fundamentals and long term trends because that's the way my brain works. Whereas you, you're like, nope, this has happened. I've got this information and you've already made your decision and you've made your transaction and I'm still thinking about it for another year.

Yeah. And I mean, I think that's why we work well. And also in the research that we, we put together for ourselves, it's. It balances each other out because all. Yeah, there's a big benefit in moving fast and going hard. But also the downside is you haven't thought about it enough. And, and there you go.

This is why Ben and I run it by each other. I think of doing this thing and you're like, yeah, great, you should have already done this. That's like Ben always to me, right? And then he's like, oh, this is. I'm like, Ben, are you just really excited because you did this and whatever and you're running on emotion. Sleep on this and call me back tomorrow. Calls back, yeah, I was dog glad I didn't make that decision.

Let's have conversations. I'm like, burks, what do you think about this idea? I'm so excited. Like, mate, no, these reasons why I'm like. And then you tell me something. I'm like, what the fuck are you doing? Yes, hurry up. Like, why?

Yeah, yeah, yeah. You're like, you're so stupid. You should have done this years ago.

And I think that, like, that's kind of the final point here that I want to talk about just briefly is like trying not to time the market perfectly. And like, you know, you don't need to get the top and the bottom. You can go in, have a look at a project and go, you know what? I think this is overvalued. Everyone's super bullish on this. But you know what? I think now's a good time to take some chips off the table. And you need to be again, in a market, you can't have 100% of people doing the same thing. You can't have everyone selling at the same time. Well, you can, but the market will plummet. You need to be taking profits while there's still, you know, a heavy majority that disagree with you because that's how you're going to make money.

Yeah, the interest and liquidity. And if you're feeling uncomfortable and you've got a significant bag and prices are rising to just take 10% off the table. Yeah, I mean, it's not going to harm your ultimate outcome, but at least you're taking something or take out your initial investment. Start to take those actions. It is, again, it's not an all or nothing. I have to absolutely get out at this number. No, lay it ladder out to that order. If you're going to sell at $5, sell some at three, three and a half, four, four and a half and five. You will be absolutely fine. And then even keep a small amount as well if you want to let it ride.

And again, there's a lot of different mistakes that we see people make again. And some of you may have made. I mean, I made all of these in the past. We're not saying that, you know, you need to be perfect, but I think starting to think about these things are going to help you really fast forward in your trajectory to actually making money in this cycle. We're starting to see the markets move again, and we're very confident that later this year price is going to be back to some pretty exciting times. So you want to have all this dialed in before then?

Definitely. And you're only human. You're going to make mistakes and the goal is just to be aware of them, learn from your mistakes and make less and less mistakes over time. That's just the game.

Yeah. And again, we want to, you know, put the offer out there. If you do want help with your strategy, again, this is what we do. This is our platinum service. We sit down with you, we do a one on one session, we do two one on ones, help you build your strategy. We've got our upcoming in person event in July. We all come down to Melbourne. We've got about 50 registered so far, so we've got about 100 clients we work with. You do need a minimum of 250,000 in your portfolio, but if you are that, we can jump on a call, see if it's a good fit. We're very selective on who we work with because, you know, hasn't always been like this, but we're at a stage now where we can be pretty selective because we want to work with people that we want to work with. We're just talking about this before the podcast where we love what we do because we can work with awesome people and help them by following what we do and all the lessons and how we're investing and you know, basically it's a, it's a win, win situation. That's the only way this sort of operates this business.

Absolutely. And we're building a really awesome community. Like I love the people, I love catching up with them and they catch up with each other as well. Like minded people that are on similar journeys. That is just so valuable to be able to talk to them, bounce your ideas off them and just get ahead together. It's an amazing thing.

Totally. So yeah, if you're struggling with your portfolio strategy, you're time poor, you've got a lot of shit going on trying to keep up, you don't have a sales strategy, you're holding a bunch of shit in your portfolio. You don't really know what to do. Jump on a call with us. It'll be with our head of Member Success DT and it'll just be a conversation about how we can help. And guess what, if it's not for you or we don't think it's a good fit, we're going to point you in the right direction. It's just a good opportunity to see potentially how we can help you build that exit plan, build that strategy, meet other like minded people and let's all make money together.

That's the whole thing. It's Just a conversation. It's not pressure selling. Like we're not those people. We're not full of shit. We don't do that and we don't want to pressure sell someone in like we've got a long like refund policy as well. We don't want chan. We want people that we can actually help and help long term. And if we can't do that or if you've got goals that we don't think we can reach or help you fulfill, or if you're already way ahead of the game and you're already doing everything we can offer, we'll just say great, like guide you to some resources and have a happy journey. It's all good.

So if you're interested in that, you can book a call the link I think is in the description or you can go over to our website and just book a strategy call you chat to DT to see if it's a good fit as well. We've also launched recently our High Net Worth Crypto Summit. So if you are a larger investor, we're hosting the first of its kind, a big virtual event on the 15th of May. It's a five hour event. We've got some awesome speakers lined up completely free. You jump over, I'll put the link in the description. But it's just CollectiveShift IO Summit. Grab your ticket. Love to see you there again, fully online, fully free. We're gonna be talking about bunch of awesome stuff for you all as well. So excited for that.

Ben's very, very excited about this. The speakers are incredible. Last time he did a shoey live and during the summit, mate, we've got three weeks. Incredibly valuable. It's so funny, some of my mates sent it to me. They're like, bro, this is so good. Like this is really valuable. These are my mates, just give me all the time. And then other mates sent it to me like, have you seen this crypto thing? And I'm like, yeah, that's my business partner, that's Ben. It was so crazy. Like it got really good reach and I was like, oh, this is awesome. And man, you've really ratcheted it up. Like this is going to be even better than last year. The speakers are better, it's more honed, it's for a very specific audience and you're just going to provide value the whole time. Tune in, learn something and just level up in your investing game.

Yeah, 100. So we'll put that link in the description below. Grab your ticket. We're talking how to Build a multi million dollar portfolio. How to build a sales strategy. Checkmate's going to be doing some on chain analysis on bitcoin. We love that. Doing asset sectors and insights. We've got Travis, you're going to be talking about investor psychology. Awesome stuff.

That was. Okay. So we did that for our platinum members in person last year. Holy. Yeah, like so this guy, he's our strategist actually like consult.

Psychologist by trade. Yeah, absolutely incredible. Like the amount of stuff he goes through. Like oh my God, I felt that this is the exact thing. And then you sit with those feelings and then you learn about them and why you're feeling them and then how to manage your psychology and apply that to your investing. Oh, so next level.

And we, and by the way, this is really tailored towards larger portfolio holders. So I'm going to be doing talks on like multimillion dollar portfolio strategies, OTC lending, a bunch of different stuff. You can attend if you're, if you, if you don't have that much. But it's definitely tailored towards the larger portfolio holders. But yeah, jump over, grab your ticket. We'd love to see you on the the summit. We've got a full blown production, we've got a studio. It's. It's gonna be epic. Really, really excited.

So good. Can't wait for it, mate.

That is CollectiveShift IO Summit we'll put on our website. Guys, thank you so much for listening as always. Hopefully you found value. If you have a friend or family member that you think would enjoy the podcast, please share it around with them. It's how we grow the podcast and we'll see you on the next episode.

Thanks. Championship.