I just noticed that one coin in my account is down 20% on paper. Staring at that red number, I find I spend a lot longer on it than when I was up on paper. Gains on paper are like plugging in a charger—you know the power is slowly charging, and you feel at ease; losses on paper are like the charger indicator light turning from green to red—you start doubting whether the plug isn’t inserted tightly, or whether the cable is broken. Anyway, it’s just staring at that number— the more you look, the more you can’t sleep. Your hands itch to do something, but you’re afraid that if you sell, it’ll go up. This is kind of like that whole privacy coin wave: some people felt the compliance boundaries were unclear, and the more they watched, the more panicked they became; the more panicked they were, the more they wanted to move. In plain terms, loss aversion makes you sleep worse when you’re down on paper than when you’re up on paper, and feel more guilty when you act than when you just watch. For now, I’m just staring at that charger, seeing how long it takes to turn green.