The Ferengi Rules of Acquisition applied to crypto

For those who never watched Star Trek, the Ferengi Rules of Acquisition are 285 sets of economic precepts that dictate the entire culture of Ferengi life. Many of them can be applied to cryptocurrency. Here are some examples:

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Rule #2: The best deal is the one that brings the most profit

This seems pretty self-explanatory. Invest in the coins that will bring you the most return.

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Rule #3: Never spend more for an acquisition than you have to

Different exchanges have different costs. Choose the one that offers the lowest fees.

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Rule #10: Greed is eternal

Rule #43: Feed your greed, but not enough to choke it

Only invest what you can afford to lose.

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Rule #16: A deal is a deal…..until a better one comes along

Don't get too attached to one particular project if a better opportunity comes along.

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Rule #19: Satisfaction is not guaranteed

Rule #68: Risk doesn't always equal reward

Rule #236: You can't buy fate

Crypto is super volatile and ain't nothing guaranteed but the grave. Know the risks involved.

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Rule #37: The early investor reaps the most interest

Rule #62: The riskier the road, the greater the profit

Being an early investor is the most risky, but usually offers the biggest reward.

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Rule #59: Free advice is seldom cheap

Rule #218: Sometimes what you get free costs entirely too much

Be wary of other's advice on how to invest. Always do your own research.

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Rule #8: Small print leads to large risk

Rule #74: Knowledge equals profit

Rule #217: Always know what you're buying

Rule #272: Always inspect the merchandise before making a deal

Study up on what you are buying and how it works, read the whitepaper, etc. Knowing the finer details of how a particular token functions is vital to managing your investment risks.

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Rule #75: Home is where the heart is…..but the stars are made of latinum

There is usually very little profit to be made in one's own comfort zone. Don't be afraid to venture out in search of greater rewards.

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Rule #89: Ask not what you profits can do for you, but what you can do for your profits

Don't just expect to throw money at something and get rich. You gotta study the market, read charts, do the work, etc.

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Rule #92: There are many paths to profit

Just as there are many different coins to buy.

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Rule #99: Trust is the biggest liability of all

Use reputable exchanges and other services. Beware of scammers. Don't fall for social engineering tricks.

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Rule #101: Profit trumps emotion

Markets may be controlled by emotion, but you can't buy a cup of coffee with your feelings.

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Rule #162: Even in the worst of times someone turns a profit

Bull market, bear market, doesn't matter. Money can always be made if you play your cards right.

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Rule #190: Hear all, trust nothing

Rule #212: A good lie is easier to believe than the truth

Be open to every opinion, but also be skeptical.

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Rule #200: A Ferengi chooses no side but his own

Don't get caught up in coin tribalism. Whether Bitcoin, Dogecoin, or even Safemoons, all that matters is whether or not it makes gains for you.

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Rule #240: Time, like latinum, is a highly limited commodity

Time in the market > timing the market

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Rule #248: The definition of insanity is trying the same failed scheme & expecting different results

Don't keep sinking money into something that never turns a profit.

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Rule #263: Never allow doubt to tarnish your lust for latinum

AKA scared money don't make money.