Why your friends don't own bitcoin and most likely never will

In my continuing search to understand bitcoin, I a constant question is: why don't most of my friends own it or show interest? The reason I found out is that investing goes in 5 levels, and most don't get to 2, let alone 5.

Level One1: Outside the building. You believe investing is for the rich/is no different than gambling. The vast majority of people do NOT do things because they are unique-they do what their parents, their friends, and their community does. Spare yourself the story of the kid who came from the projects and became a CEO-these are exceptions (and amazing ones that should be celebrated). The bottom line is most do not invest because their surroundings discourage it.

These people respond to bitcoin with "tulips" and "xyz" coin but have done little to zero research. Pride accounts for the smart person not at least asking questions (I'm gonna be the bagholder).

Level Two: Housing and Mutual funds. If the building is 100 floors, and 90% are outside the building, this occupies the first 80. Most 401k holders have no idea what they are in. They go off recommendations have super conservative friends who have no idea what they truly own. If you are older, this might be bonds. Listen to the guy with the rolex who is richer than you.

A home buyer is in this category especially if they own 1 property. They understand the basics. They learn about equity.

Level 3: REKT. "It's time to be a baller". This is where most investors fall apart or have their first big loss. I've been here. Maybe it's borrowing to invest (or invest in options as was my case), perhaps it's investing in a friend's business only to realize your new business partner is not what you even imagined (what do you mean you are a drug addict?). From 05-07, it was buying 10 houses. Most recently, it was massive leverage in crypto. For most, a combination of shame, shell shock, and loss is too much to bear. If single, this is where most become family men. These losses tend to come mid 30s to 40s-the idea of starting over at 39 is hard enough. Starting over at 45 is crazy.

Level 4: Enlightenment-after suffering through REKT, most do not want to keep going. That being said, this is when knowledge is sought. You learn that diversification is great to protect money, but every story you read has a constant: A new idea, a new technology, and utterly dominant. Returns of 50x +. A technology and or company that alters the world. The key is finding it and making a long term commitment. You hear the story of Amazon going from 1.73 to $90 back to $11....and on to 3200.

You learn to listen to smart people and not prove points. You make a detailed plan. You do NOT trade on leverage. Once again-you have a written down plan. You try to understand why what happened before happened the way it did. You try not to fall in love with an idea.

You try and help your friends, but you stay quiet after you make your pitch. You realize most ngmi. It saddens you, but it's the truth...most are trend chasers. And most will lose $ in bitcoin.

Level 5: Investor-you learn about trends and you are generally in early. You bought real estate in 2010 when people were selling their keys for a cup of coffee. You put real money into 5 companies a year you view as having the possibility to be game changing. The vast majority of people do not know you are rich.