I'm really glad these sort of comments were made around 2013 on this community and I started trading cryptocurrency. His comments make sense to me, and I can guarantee you with near 100% certainty there is another millionaire trader reading this thread.
You are as dumb as you are lucky and this comment is just the definition of survivorship bias. There are always some people who make money off of pyramid schemes (not necessarily saying that bitcoin is one) but that doesn't mean it was at any time at all a good idea to invest in one.
Real estate is another area that is very typical for bubbles and when the bubble bursts the large majority of people who are overleveraged will be eaten alive by the big investers (much bigger than you) who make money off the poor in times of crisis like they always do.
Survivorship bias applies when the survivors are visible and the losers are not, but this thread is full of losers, projecting their loss on everyone that survived and deeming these dumb luck anomalies.
Since it was very hard to lose money with cryptocurrency even if you tried, you had years where it was a good idea to invest. Who should you listen to? The one that got rich with a better scheme than buy and hold? or the one who sat on the side lines for years, made zero profit, and now holds a grudge at missing such a good investment?
Poor people should not go into real estate. There is enough for everyone. If you'd put some of your wealth into Euro, in the past months alone, you'd have made enough to buy a small apartment when the bubble bursts.
