Paperhanding is a pronounced phenomenon in crypto. 

Having both >1000x opportunities AND liquidity makes this difficult. 

In venture there isn’t anywhere near as much liquidity, so it’s easier to invest with the assumption it’s a 0 or 1000x and do nothing in between (you’re forced into this position) 

In crypto it’s a much more active and constant consideration, in an extremely noisy environment.

smart traders learn their lesson, though

if you continue to paperhand repeatedly, you're not critically evaluating your own system