How to maintain your dignity during crypto winter


Bienvenidos mis ositos, tu siempre eres mis queridos! (Welcome back little bears you are always my dears!)

Hey Panda, I read about the crypto collapse how are you doing bud?

Get a job loser!

I just knew craptocurrency was a scam!

Sometimes I wish I could toss my electronic devices out the window. That was just a sample of some of the messages that I’ve seen lately.

Of course to protect privacy on an individual level, the comments were edited for brevity and foul language. However, most readers will get the gist of the above messages.

It’s bad enough that your own portfolio has cratered. If you ever tried talking to family members, friends, or even coworkers about your alleged crypto knowledge you know about the crypto winter blowback.

I’m just fortunate that I never had to talk to a boss or upper management about crypto.

Could you imagine?

Yeah, now that your Bitcoin recommendation is down, I’m gonna need you to come in on Sunday.

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What’s done is done.

I wish I had a time machine so I can tell my past self not to blab so much about digital assets changing the world.

From now on, when I’m in the meatspace world I’ll only talk about digital assets when asked. Otherwise my inner circle will expect free coping sessions every time the market goes down.

If other people bring up crypto, I’ll just give them the obligatory diversification and risk management talk to temper expectations.

We were so close to making it in 2021.

We never got to see a proper “meltup” in crypto. I had wanted to see a $100,000 Bitcoin or $10,000 Ethereum.

We did see some crazy prices in NFT and meme stocks.

However, not everyone got to taste ridiculous wealth and escape the poverty cycle. There were some overly arrogant and (over leveraged) grifters that blew up and set the space back a few years.

It sucks when you share something that you know in your heart to be positively life changing only to have it blow up in your face.

We have to keep the “big” goals in mind. I still think DeFi, NFTs, and yet to be created Web3 protocols will positively change the way we bank, and provide value to each other.

Unfortunately opportunity attracts both altruistic player and leeches alike. However history and rewards will not remain with scammers for long. Eventually value flows back to those that create and nurture it.

Crypto winters mirror their real life counterpart. They create harsh conditions and crush those that were unproductive or ill prepared.

Crypto winters offers us time to pause and reflect on what steps we can take to improve our lot in life. There will be less distractions so that the productive among us can create and experiment.

The following represents some of the things that I will continue to do while we wait for the bulls to return.

Instead of sitting around moping and waiting for the market to turn, I can get some exercise.

I use the STEPN (not a recommendation) to track my speed and distance when I go for walks. It give me some time to clear my head while also maintain my physical wellbeing. As an added benefit it also gives me some crypto rewards.

Normally I also like to take a vacation whenever I need to recharge.

However, this would not be prudent in 2022. There are potential airline cancelation/delays that would make international travel a nightmare. In addition, the ticket prices don’t look attractive.

That makes it easier to preserve cash this year.

Mentally, I don’t feel like I deserve it yet. I do look forward to the day when I can visit the Latin American and Caribbean region.

Instead, I find myself going to parks or areas with a lot of trees. Sometimes I just like finding a bench to sit and reflect. When I let my mind wonder ideas for blog posts enter my head. Which leads us to…

Creating content about my crypto life on publish0x and Youtube gives me some therapeutic benefits so I will continue doing that. My writing will not always lead to monetary gains but my hope would be that at least my readers will be entertained or think more positive.

Sometimes in order to improve yourself and maintain your dignity it’s not about doing more. Sometimes it involves doing less.

During DeFi summer 2020 and DeFi summer 2021 I accumulated so many Discord servers and followed so many Twitter accounts it became unmanageable. This impacted my sleep because it was so hard to follow every piece of news.

I incorrectly chose quantity over quality. Now that most of these “projects” have either rugged or blown up, I can finally catch up with some much needed sleep.

Digital detoxing simplifies my life. I pruned a lot of social media follows. There were so many bright minds but huge egos that enjoyed clogging my feeds. Now I can enjoy some peace of mind.

Now I can talk in real life especially with mature investors that have better assessments of risks and rewards.

It’s been mentally exhaustive lately frens but keep your chin up the best is yet to come in the digital asset space!

Obviously none of this is formal financial or tax advice. You need to find qualified professionals in your jurisdiction.

Be sharp, stay hungry let’s get that money!

 

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Suerte Panda
Suerte Panda

Fuzzy Defi Enthusiast


How to transition from TradFi to DeFi
How to transition from TradFi to DeFi

The easiest way to convert DeFi infidels is to show them modern versions of TradFi services that they already use.

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