I saw the crypto light on June 29, 2017. I became of the belief that crypto was going to be the biggest thing to happen in the history of humanity.
Since then, I’ve written over 225 crypto posts , as I don’t know what I think of anything, until I read what I have written about it. And trying to understand crypto is a rabbit hole like no other.
I’m approaching my four-year crypto anniversary. I’ve been through an entire cycle. And as I’m now in to my second “crypto bubble,” I’m struck by how ephemeral the joy that comes from making money really is.
For most people, lasting joy is going to come from changing the world, from using these technologies (blockchain, cryptocurrency, non-fungible tokens, etc.) to make the world a better place, a place for more creative possibilities, a fairer place, for billions and billions of people.
So I’m going to pause for a moment from my usual “crypto to the moon ” posts and reflect on what’s important to remember as we mark what feels like “the end of the beginning” of what will surely be the greatest adventure of our lives.
1. “…If you can meet with triumph and disaster, and treat those two imposters just the same” — Rudyard Kipling, If
I didn’t let myself get too depressed during crypto winter, because I believed, at some point, crypto spring would come. It would be foolish to get too excited now, because the only thing we know for sure, is winter is coming. They’re different sides of the same coin.
Another way to say it is that life’s a ferris wheel. So when you’re on top, enjoy the view, and appreciate it for what it is. Because at some point, the wheel will start turning again.
2. I Have A Word To Describe The Tendency of Markets To Become Bubbles, Crash And Become Bubbles Again…Capitalism
That’s what markets do. Markets aren’t the truth, They’re just a signal. As Buffet said that “In the short term, the market is a popularity contest. In the long term, the market is a weighing machine.”
3. It’s All About Community
At the end of the day this is about a set of tools that enables us to take the man out of the middle, who’s run everything to date in the history of man, and solves for himself. And now we can solve for the community.
But the tools are rudimentary today. Governance tools are limited. Our knowledge of token economics is still pretty basic. So we need to work on improving those tools.
4. Revolutions Are Messy
We’re trying to change the world here. It’s a revolution, and revolutions are never clean and easy. They’re always hard and messy. The difference between a terrorist and a patriot is determined by the success of the revolution, so the stakes re high. And people have strong and differing opinions on how to achieve the revolution. So all the vitriol in crypto isn’t a bug, it’s a feature.
5. “Everyone has a plan. Until they get punched in the face.” — Mike Tyson
Whatever crypto turns out to be, it will be different from whatever anyone thinks it is going to be. Nothing is set in stone yet. So you can have your plans and your beliefs about what’s going to be, but the winners will be those that adopt to the changing landscape.
6. My One Business Orthodoxy Is To Have No Business Orthodoxies
I believe that there are an infinite number of ways to skin a cat, and I know orthodoxies work for some. But I think true innovation most often comes from out of the box thinking, and orthodoxies are boxes that stop you from seeing other possibilities. And why wouldn’t you want to see all the possibilities?
7. “If you operate on a longer-term perspective, you have an advantage because everyone else is completely short-sighted.” — Jeff Bezos
I’m focused on where Bitcoin can be in 10 years. So, while it’s nice to see it where it is, it’s still tiny. It’s still only 10% of the value of gold.
So revel in the moment while it’s still here. We live in momentous times. As a famous revolutionist once said:
“There are decades where nothing happens; and there are weeks where decades happen” — Vladimir Ilyich Lenin
Enjoy the week :-)
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This content is for educational purposes only. It does not constitute trading advice. The author of this article may hold assets mentioned in the piece.
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