Using stock market analogies to understand crypto? That's a category mistake, plain and simple.

Crypto isn't just a new asset class—it's something fundamentally different. There's no historical precedent. You're not just buying equity, currency, commodities, or even a sovereign nation's social contract. It's all of those mixed into one decentralized network.

The real issue? Most people treat it like stocks. They don't. The mechanics don't align, the dynamics don't match, the risk profiles are a different beast entirely.

But here's what actually drains your returns: cynicism. Not market volatility, not regulatory uncertainty—pure cynicism. Doubt quietly erodes conviction. Negativity becomes your heaviest position. You second-guess the thesis when the price moves against you, then FOMO back in at the top.

Understanding what crypto *actually is*—not what it resembles—changes how you approach risk. And that shift in mindset? That's worth more than any trading signal.