Today’s topic is … First Principles of Investing In Bitcoin

A.K.A. Why investors suck at investing

A first principle is “a basic, foundational, self-evident proposition or assumption that cannot be deduced from any other proposition or assumption.” Ours are:

“This time is NEVER different … ”
“NO ONE can predict future direction of price. No one.”
“Trees DON’T grow to the sky.”
“Pigs get fat. Hogs get slaughtered.”
“Fear and greed are your biggest enemy. The way to control fear and greed is a SANE SYSTEM, repeated over and over again, as if your life depended on it.”

I would argue that if you don’t have sound first principles, or at least borrow first principles from someone who has gotten the result you want, over a long period of time, under different and challenging conditions, you are playing a game against some of the brightest minds in the world, for money, without any clue of the game you were playing.

If you went out to play a game of football, without knowing the rules, how successful do you think you would be? You’d get eaten alive.

First principles are your touchstones. They tell you what to do and how to think about any situation that might arise …

Everything you do, in terms of your investments, should flow from those first principles.

Learn more about the Sane Crypto System:

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Thanks for listening, I’ll be back tomorrow with another installment of Sane Crypto Live. Until then, remember… pigs get fat. Hogs get slaughtered!

I’m Kim Hughes. Now go forth and conquer.


Frownfeller, John. “The DALBAR QAIB: It’s Behavior (Not Performance) That Hurts Investors Most.” SEI’s Practically Speaking, 18 Apr. 2017,