source avatarRexha 🐸

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Luca Netz CEO of Pudgy Penguins, says profits are NOT profits until it's in your bank account! "Profits aren't profits until you put it in your bank account. That's the only realized profit, and it's not stabling to USDC. Those are not realized profits." "Realized profits are when you move it from on-chain to off-chain." "The biggest fear is people think they stable up and keep it." "Once you take money from on-chain to off-chain, making sure you never bring it back on-chain is a really key discipline." "Everyone thinks they've made it with millions of dollars of USDC. Dude, you're just waiting to chuck that at something else. If that something else doesn't work, you're gonna be right back to where you were." "Realized profits are only what you put into your bank account." "Everything else is fugazi."

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