I find that floating losses are easier to keep me awake than floating gains, even if the amounts are the same. When it's a floating gain, I think "at least I haven't realized it," but when it's a floating loss, I start to wonder "Did I do something stupid?" or "Should I cut it off?" Especially at night, watching the node logs look normal, I start to second-guess myself... Basically, it's just loss aversion that feels too real.

Recently, the economic collapse points in blockchain games are quite similar: when inflation kicks in, studios start to roll, and the coin price begins to spiral. People aren't afraid of earning less; they're afraid of becoming the last one holding the bag, so the more it drops, the harder it is to sleep.

My definition of "long-term" is actually quite casual: being able to endure a major drawdown without looking at the market or trembling, probably about a quarter; one or two weeks is just called staying up late. Anyway, I now care more about not forcing myself into emotional decisions—keeping the nodes online and not letting myself go offline.