Many people have lost money in cryptocurrency, either from oversight, malice or just not knowing how to prepare for market madness. One fellow asked me the other day about how to deal with the pain of seeing his portfolio go from millions to... not so much. While I'm yet to make and lose my first million, I do have a few ideas about emotional intelligence.
Here are Kurt's tips for a happy loss, explained in detail in this episode:
- Count your blessings
- Find the lessons in the pain
- Feel deeply
- Embrace the journey
- Let go
Scroll down to watch and listen to the episode!
If you've experienced losing millions of dollars, or even something more precious, you might know that it exposes deeper trauma. Things that have been hiding from your view - that's what makes this subject so serious. Maybe you're reading this in the future after the next crypto crash, and you're wondering what your life is worth after losing so much. Remember you can always seek help in the form of talk therapy, using certain substances, or reaching out to me on Facebook. The important thing to remember is that pain is temporary; this too will pass.
1. Count your blessings
Even if you've lost all your money in the world, chances are you can still find something so be grateful for. Take a look around, breathe some fresh air, feel the sun on your face or the cold ground under your feet. Call an old friend. Ask, what is there to be grateful for today?
2. Find the lessons
When something happens that causes us a lot of suffering, it's partly because we weren't properly prepared for it. If you lost more money than you expected, you probably didn't realise how much you were really risking. Maybe you had more opportunities to enjoy the money but didn't. What lessons lie hidden in your pain? As long as it hurts, there are probably more lessons to learn.
3. Feel deeply
A lot of people go to sad movies, and cry. And how they cry! They don't resist the feeling of sadness, nor its physical expression. They seek a kind of pain in order to find release.
When something tragic happens in your own life, does it also present this opportunity, to squeeze the sponge dry? What will be left, once you feel it completely? Find out for yourself.
4. Embrace the journey
Just like a movie, just like a journey, life is an adventure full of ups and downs, disappointments, delight, and unexpected turns. When we start a journey, we can anticipate these things will occur. When they do, they don't have to shake us to our core. They're just another part of the journey.
Many times when we look back at our challenging days, we see we were pushed to our limit. We were uncertain if we'd even make it - but weren't we alive then! With years we see that the hardest times, and that was when we grew the most. Can you gain enough perspective to enjoy the hard times while you're living them?
5. Let go
After embracing the journey, feeling the pain and learning its lessons, you can let it go. Its likely at that point it will come easy to you, like dropping off the training wheels or an old jumper that no longer fits. You can let go.
6. Be grateful for the pain
It turns out there's a final stage to this process. I sent this video to my friend who asked me the question. It's been a month since they first asked me, and a lot has passed. Now they are grateful that things happened the way they did. His deeper pain was revealed, and because it was made conscious, he could finally heal it.
So it's true, the lessons are in there, and soon enough you might be grateful for the things that were taken from you, and what was left in their place.
How to lose half a mill and keeping your cool with Luis Fernando Mises
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