Some people behave impulsively without considering their consequences. They're foolishly spending their money as they make it, assuming the good times will never end. Your buddy, he's a prime example; cruising on high, eyes glued to the rearview mirror of "had I known." Honestly, this is about acknowledging, not knowing. Knowing that every dollar spent in foolishness today undermines their future
Your friend's reply? "What's money for if not enjoyment?" Classic yet disastrous. It's like braking a runaway train, not bothering or preaching. High inflation, asset sales, couch-surfing? That's mismanagement, not luck
Who can blame you for considering severing ties? Energy vampires take your money, spirit, and peace as well as your blood. It's a lifestyle, not simply financial smarts. Your absence might be the most profound advice. Let them bear the consequences of their choices without you
That is true, there are just too many people like that. Sometimes it benefits us, because they do not care if the price would fall or not and just go all in and that period makes the price goes up, but sometimes they get out (like now) just as they shouldn't and crash the price.
For example, this recent fall was caused by people who joined very late, seeing bitcoin go up, and thinking they could make money with it, and when the price started to wobble just a bit and didn't go up, they got scared and sold, it is hard to imagine, but price went from 15k to 73k to 64k and there are people who lost money. This is why we should be more calm when we are dealing with crypto, it is really not that difficult when you think about it.