Bienvenidos mis ositos, tu siempre eres mis queridos! (Welcome back little bears you are always my dears!)
Long gone are the days of having steak dinners every night.
Two bull markets ago I would treat myself to different restaurants.
There was one Brazilian steakhouse that you could order food by the pound.
Those were good times you had a bull market in both stocks AND digital assets.
What a time to be alive!
Unfortunately free money time is over.
Both the Federal Reserve and venture capitalists have started tightening the purse strings.
Now I’m back to peanut butter jelly sandwiches and ramen noodles.
It’s been a bit deflating having to adjust to such a meager lifestyle. However getting back to my humble roots will help set me up for an incredible bull market (in 2024 maybe?).
During the last bull run, seeing different teams snipe and trash talk eachother was quite disheartening.
Now you would think that people would be a bit more humble during a bear market BUT…
Well, you’ve probably seen the nasty tweet storms and nasty discussions in the different Discord servers.
They stink up the place like a lingering fart after a night of eating baked beans.
You have to keep in mind, a lot of projects are barely clinging to life and everyone is fighting for scraps. This crypto winter will not be kind to weak projects.
There’s not much you can do to control what happens in the markets.
What you can do is control yourself and prepare for the next bull market.
Depending on your portfolio and personal situation, you may need to get a job (gasp!) if you don’t have one to survive. There’s probably nothing more humbling than crawling back to a normie workplace after making good money in the digital asset space.
If that’s too much for you, you will need to hustle and maybe swallow your pride.
For instance, in a proper I’ve written about my bottle recycling hobby here:
The next logical step would be to go dumpster diving for items with resale value and then flip them on place like Ebay.
Eww panda you’re still digging through trash?!?
Well it’s not that different from digging through digital trash. Think about all comments from social media reply guys that you needed to go through to get some alpha.
For every one Curve Finance I find, I need to wade through sewage like Titan, Wonderland, or LUNA.
Well, I’m just doing the physical version of turning trash to treasure.
The amount of waste generated each day revolts me. You should see the stuff that people toss out that are still usable. Barely worn sneakers, SEALED food and water, I even found laptops once!
If you’re not ready to get your hands dirty, you can try the slightly more upscale version of this.
You may want to consider niche resale.
When I was a broke college student, I would scour flea markets, garage scales, and thrift stores for certain action figures and comic books. I used to put together bundles or sets so I could get a higher total selling price.
These type of activities do not feel good in the beginning. You feel like a loser and scavenger in society. Then you realize it’s society that is kind of screwed up. All this value locked up or even discarded!
Crypto winter already sucks enough but it won’t be here forever. While crypto things are dormant or dying, you need to get out there and find ways to generate cash.
There should be less noise coming from crap projects. The hardworking gems that generate REAL cashflow will reveal themselves soon enough. BUT you need fiat or stablecoins to buy them.
Instead of whining for the devs to do something, YOU can do something!
When you humble yourself and scrounge for money in weird ways, you appreciate the hustle. You start to train your brain to look for missed opportunities in real life and in the virtual world.
Attitudes of being humble and having gratitude pair well together and serve you well later on.
Watch out for bear market rallies and don’t deplete your fiat cash hoard.
Keep some stablecoin yield farms handy so you can deploy capital on sharp selloffs.
Roll up your sleeves, put in some good old fashioned work. Stay humble and be grateful that a wave of opportunity is out there for ready for you to explore!
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!
P.S. I just read this sad tweet thread, I hope things get better for this guy
