You make very well thought out points. Yet thinking about why there are not many more rich people on the planet when the stock market is near all time highs it makes me wonder a lot. The fact that I am not in it is likely why I am still poor. There is no way I can become rich if I do not take gambles. But I may still lose in the end if crypto never recovers.
I am fine with that because I can still use it on the internet like exchange for more steem and so on. I invest in things that I will have a use for and not just appreciate. That way I can mitigate some of the losses.
for sure, you have to speculate to accumulate as they say, nothing ventured nothing gained...
I don't mean you in particular but most people take too big a risk. The vast majority of people I've asked say they'll hold their crypto all the way down to zero !
The reason rich people are rich is because they understand risk and reward,and if something is losing them money they cut it dead and move on to the next opportunity. In crypto that might mean selling coins for a small loss that are costing you money in order to buy more coins that are going up in value that will make you 10 times the money.
I know we've spoken about this before and I understand your approach to crypto is very holistic and wholesome (like mine), so I don't mean to direct my comments at you. I think you're one of the very few sensible people I've spoken to about crypto, most people are just dumb...