Don't let GREED happen to you !

Greed has a lot of power; it is so powerful that can blind the ability of a brilliant man to use his brain.

I’m not a doctor but I will bet that greed is as powerful as love, and if you think for a minute that greed might be “lust”, not love for money, then my theory is becoming more a reality.

Let me give you an example: I have seen people complaining and insulting the “seller” that stole his money, because they were offered Bitcoin at a 50% discount and the only thing they had to do is pay 10% in advance to “secure” the deal. Do you really need me to describe you what happened?

Buyers sent the 10% deposit and after that they contacted the seller and of course, he was nowhere to be found. What happened? Greed happened!

When dealing with OTC Bitcoin deals, everybody is rushing and desperate trying to get the “million bitcoin deal”, there is no such thing as a MILLION BITCOIN DEAL. It is not real and if by any chance someone is doing it, trust me, you won’t know about it.

But we all are been bombarded with the 100k 200k 500k Bitcoin deal all the time, and so many people waste hours, days, weeks and even months on those rainbow kind of deals, what happened? Greed happened!

Let’s put it perspective. A few days ago, we were trying to close an 8k BTC deal at Noble, the contact that was close to the Seller’s mandate decided that he needed to make 1% regardless, he thought he will make $680,000 but of course the Buyer’s mandate demanded that the 3 intermediaries (including me) should split evenly the 1%, which will be roughly $226,000, he said no. The Sellers mandate found another buyer, they closed the deal and we got nothing; what happened? Greed happened!

I try as much as possible NOT TO WASTE TIME, I’m sorry, I meant not to work on those deals, I rather work on OTC desks that are trying to buy 200/400/1000 BTC on a daily base. I am going to regret this but here I go, the commissions that I am looking on those deals are 20 basis points

I have lost a couple of deals, where the buyer was willing to buy 1000 BTC, the seller that I have was willing to give the buyer a small discount (YES SMALL -1% -2% or even SPOT) but then the Buyer’s mandate said, HELL NO, I won’t be working this hard to get only 10 basis points (Because I will share 50/50) of my 20 basis points.

Facts: 1000 BTC on a daily basis will represent only 1 Bitcoin a day in commissions, multiply those times 20 business days on a month and that infamous deal that could represent you US $150,000 at today’s price ($7500) every month never happened, what happened? Greed happened!

Wait, don’t go for the 1000 Bitcoins deals, it’s hard to get them too, but if you work hard for 200 BTC daily deals and you find 5 buyers like that, then and only then you can really enjoy this crypto era.

Don’t let GREED happen to you! Greed will blind your brain!