I’m coming up on a few milestones within the next few weeks. Fifty-one years on this crazy planet Earth (June 18) and six years of blogging on the blockchain (July 5).
Now, you would think the world would seem a little more settled and calm at my age but I’m finding that it’s quite the opposite. It’s truly a mess. If anything, with age, we just learn to spot the storms earlier and gain the ability to see through the bullshit and mass manipulation. If we’re lucky this gives us time to prepare ourselves to navigate the rough seas ahead and sail with more confidence and precision.
Every day the news is filled with stories of financial markets crashing, mass shootings, the potential of world war, and food shortages all around us. What is even more concerning are the multitudes of conspiracy theories about the tentacles of a far greater dystopia lurking beneath the already horrific surface layer of threats. Then the mainstream media does what they do, stoke the public's fears of all of these things until we are all one huge mass of panic and hysteria.
Case in point, crypto.
Crypto is a topic most of us here on Hive know, love, and, at times, love to hate.
Personally, cryptocurrency has been the biggest blessing I’ve ever encountered aside from finding meditation. Crypto has given me a lot of things but I would put freedom at the very top of that list. These days I spend my time exactly how I wish and this puts a person into a completely different mindset.
I’ve been in the space since 2016 and have survived through a few market cycles and have learned some things. This is in large part why I abhor how cryptocurrency is being slandered in the media right now.
Lately I can’t turn on the television or the radio without hearing about how crypto is all a scam and how we’re witnessing the beginning of the end of Bitcoin. This latest market downturn is part of a natural market cycle, albeit one like we haven’t quite seen before.
Take a breath. Relax, it will be okay. The sky isn't falling.
The only way you lose here, aside from a hack or something else out of your control, is if you sell right now and that is exactly what the media is trying to coax you into doing.
This market downturn is a cleansing, and in my opinion, a much needed one. There are a lot of cringy projects and platforms out there. Lately I’m seeing Tweets about how investors are losing their life savings and children’s college funds on heavily leveraged crypto trades, sketchy exchanges, and worthless NFTs.
When you see this kind of investor behavior it is inevitable that a lot of people are going to get burned. As with every bear market many of the coins and blockchains that sprung into being just to lure greedy and often uneducated speculative investors will fizzle and die. But the cryptocurrency projects that are actually adding value will invariably survive this storm and go on to hit new highs.
It might not seem like it to us because one year in crypto feels like five, but this market segment is still young. Take the lessons from your missteps and apply what you learn in the next cycle. Don’t allow yourself to be swept up into anything resembling mania. Research heavily before you invest your money in anything.
I know these are stressful times. Take a breath. Relax. Laser eyes, diamond hands, and all that crap. Above all else realize, it’s going to be okay. This too shall pass.
*Disclaimer: This is, by no means, financial advice. Do your own research and, for the love of God, don’t make financial decisions based on advice from crypto “influencers”.
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Let’s Keep In Touch
In this situation, you just need to be patient and wait. Who knows how to wait, he will wait for more.
Exactly! I'm afraid we're far from the bottom but it will eventually bounce back. I have no doubt.
Happy 51st birthday, friend @ericvancewalton, I hope you are always in good health and can participate in activities smoothly and always successfully. My best wishes for @ericvancewalton friend, I have read about the crypto discussion that you have shared, maybe you have joined the crypto world for a long time. I think you must have wider experience in the crypto world. Of course like me as a newcomer in the crypto world, maybe there are still many things that I don't know or have experience with, so if I may know, for now is it good for us to buy coins in crypto, is it for the future? getting better or something. Thanks.
Thank you very much! I really have no idea how much lower the market will go but it certainly does feel like we're getting close to the bottom.
ok friend, thank you very much
Hi Eric, you're right.. I'm also kind of traumatized to read crypto news lately. The market continues to fall. I have lost some of my savings due to crypto now. But it's a risk we have to take if we invest in crypto. .I can only hope that crypto prices can return to normal. Have a nice day, Eric.
I'm still confident that the market will turn around for the legit projects and am fighting the impulse to panic sell. I will go "down with the ship" before I sell at these prices. Enjoy your weekend Eliana!
Dang, for real? I feel like you just turned 50! Early Happy Brithday by the way. I hope you are going to do something special. Yeah, the markets are crazy right now. I am pretty lucky that I still have my 9 to 5 for all of the important stuff and then I can just do what I want with crypto. It will be good to see many of the weak hands shaken out. I never would have guessed that Coinbase would be one of the projects going down the tubes, but they sure do seem to be heading that way. To be fair, I think they will be okay, but they have a tough road back to their former glory.
For real! Thank you! It goes more quickly each year, my friend. I'm going to keep the celebration small this year and will just be going to dinner with my wife, son and a friend. It's definitely good to keep that 9 to 5 until you're 150% sure you can weather any kind of financial storm the world can whip up. Ugh, Coinbase. I moved my coins off of there about a month ago when they stopped paying rewards on Tezos I had staked and weren't communicating as to why it happened. They also duped me into staking ETH and that's locked up indefinitely. That's all I have left on there ATM. I think you're right though, they're large enough to make it through to the next bull cycle. I don't think very highly of Crypto.com now either, they are using a lot of "smoke and mirrors" offering higher APYs and then suddenly lowering what they offer once your coins are locked in. Live and learn.
This is what happens: the bull market create unnecessary hype and attract scam project that fronts unreal money, this is often washed away when the bear market happens, like you said, it's the grand cleansing. In reality, keeping up with the bull and bear market is how one becomes seasoned and established with crypto, I guess time and patience is what a lot of people do not have. Luckily, we do.
How have you been?
Definitely, bear markets cleanse out all the riff-raff! This bear market is really drama-filled and extreme. I have enough confidence in crypto as a whole though to feel fairly confident that the glory days will return in some other iteration.
I'm well, thanks! Enjoying summer, writing, and STILL waiting for the car. They pushed the delivery date back yet again. How are you?
We've been here for far too long and the benefit of it is that we understand how it works and this is how we establish absolute trust on crypto.
Delivery dates are hardly certain, but I guess it wouldn't be long, I'm sure you can't wait to test those shiny wheels hahaha.
I've been good, that house is pretty much done, I'll be sharing the pictures soon enough.
Yes, time teaches if you're open to its lessons. I've never seen anything quite like this cycle though, it's testing the trust a bit. Lol.
Yeah, I'm just being patient with the delivery date. It'll come when it comes.
That's great news about your house! Congrats! I can't wait to learn more about it.
Hello dear friend @ericvancewalton good afternoon
Time has gone by so fast, I can't believe we're about to be 6 years old on the blockchain. I share that it has been a great journey full of challenges, and without a doubt it has left us with a great experience.
Now it's time to be cool and calm
Have a beautiful afternoon
"Time has gone by fast" Oh man, you can say that again. In certain ways it feels like I've lived an entire lifetime in those six years. Things have changed so very much. Yes! Patience is a virtue now all we have to do is wait. Thanks for dropping by and I hope you enjoy the rest of your day!
I think the more we get aged the more life gets complicated.
Happy Birthday and Happy Anniversary!