Great post @kyusho! I have had some people I know get emotional with me (and yes, some irrational as well) recently in due to the recent happenings. I couldn't really figure out why (I mean I could but, wow?). Then I realized they "gambled". They utilized monies they really could not afford to lose.

When I got into cryptos I used "free money" (as you call it). Small amounts of (extra) money from odd receivables that weren't required for bills or what have you. I then purchased an amount of crypto via my credit card (in the amount of my free money earned) and then paid off that purchase amount. No brainer really.

So the result for me is, I'm a pretty relaxed dude. I invested, rather than speculated as you mention. I also educated myself about cryptos (and continue to do so), asked questions and took time to think. The taking the "time to educate myself" allowed me to gain an educated opinion on the future of cryptos thus forging my personal development plan into that market.

As you said, there are no guarantees and YOU have to THINK for yourself.