 | u/AbrahamSTINKIN posted an interesting question w/this chart. And it got me thinking. ???? This post is an over-share, but I learned some hard lessons during my time inside that red circle. I wish to share them with you. Personally, May 2021 brings back bad memories. I entered the space in 2017 w/one goal in mind: $1 Million. My timing was fortunate. I acknowledge luck played a central role in my success. But this is about failure. My portfolio (staked ETH, BTC, SOL, & stables in DeFi) surpassed $1 Million on May 6, 2021. I was a crypto-millionaire. For 8 days. By June's end, I lost nearly -$650,000. WTF HAPPENED A number of factors converged to cause the market collapse:
We didn't see it coming. The prevailing narrative was ETH to $10K & BTC to $100K. Taking profits meant losing profits. How fuckin stupid. WINNER OF THE BAD TIMING AWARD Fear & panic endured well beyond the blood bath; all summer if memory holds true. Being that most of my bag is locked in stake, I was forced to ride out the entire crash-cycle. Now I'm happy that I did. The knowledge I gained turned into income. All centered on one theme. Money is the poorest form of wealth Losing that much that fast was devastating. The situation was later exacerbated after Chase Bank, without cause or notice, attempted to appropriate my accounts. Also fought Coinbase over $16,000. They attempted to keep my ENS airdrop. I suffered a nervous break-down in September. That's when I took note of something. I was still making money.
We are bound by our systems. Or we are safeguarded by them. It's always your choice. The measures you build and put to work come thru for you during good times & bad. Systems of crypto-income and yield bearing instruments matter more than your net worth. Don't wait. Start small. As your system takes shape, it also teaches you. Yes, you'll take beats. But you'll grow better at finding opportunity. Ask yourself how much you'd like to earn from crypto each month? That number is attainable. You then create a system to reach that monthly goal. It's okay if you don't know where to start. It only matters that you start your research. I gained interest in the ENS Project. It turned highly lucrative. I've sold over 650 ENS domain names across 5 seller accounts. I found it despite not knowing what I was looking for. Web3 is replete with scammers & rugs, but also opportunity. This environment calls for problem solvers. Your skills are transferable.
Google search listening trends tell you where the need is greatest. We're lacking mostly in education & security. These are the top questions asked by people re: cryptocurrency. This is your opportunity. Don't rely solely on ROI. Invest in your systems. Invest in yourself! --------------------------- EDIT: Moving forward, people who invest hours in the space can expect greater upside than people who solely invest money. It makes perfect sense if you only want to invest money. But I wager most seek greater benefit and to grow with crypto & web3. There's no better time to improve your skillset for max benefits. The space grows faster than the base of qualified people. Example: My recruiter approached me regardingthis position. I prefer working independently so I passed. But it would make an awesome career jump for someone. The code knowledge is not heavy. You can take online courses to learn and be qualified for the next opportunity. It's not just about pure coding & engineering anymore. And the pay in this space is outstanding. At least that's been my experience. This position is no exception; great pay! [link] [comments] |
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