A Bit of Nostalgia
The time period between 2018 and 2022 was really special for me. I had just gotten out of the military, I was using my GI Bill to earn my MBA, and I went all in on learning about a trendy new asset called cryptocurrency. It felt like every day was exciting, and there was something new to learn. I would complete my schoolwork for the day, go to the gym, and then I would spend hours researching a new cryptocurrency project, composing a blog post, and connecting with like-minded individuals. It was such a happy time in my life because the sense of community and excitement about new projects gave me a sense of fulfillment, while the ability to earn a little bit of my own income without working for a traditional employer gave me such a sense of freedom and liberation.
Why I Left….
If I used to enjoy crypto so much, then why did I quit? Well, there were a lot of reasons. I started a job in traditional finance that severely limited the type of content I could produce. At the time, it felt like the right financial move to accept the job in traditional finance, even if it meant giving up participating in a hobby that I really enjoyed. I tried to stay involved, but it just wasn’t the same. Knowing that the smallest slip-up could land me in hot water at work took a lot of the fun out of crypto.
Sometime around the 2023 bear market, I pretty much completely gave up. The prices of my assets were crashing, and a series of scams in the industry made me feel that crypto had lost its way. Sometimes, it felt like it had just become a high-tech version of traditional financial corruption. I didn't want to be the kind of person who just complains all the time about something that I used to love, so I decided to take a step back.
Memories of the Past
But then a few weeks ago, something changed. I started thinking back to the old days and how happy I used to be. I reminisced about the friends I had met in the crypto space, the blockchain-based games I had played, and the sense of empowerment that I felt about creating my own content niche in the vast expanses of the internet. Just as importantly, I missed the sense of excitement and hope that I felt in those days. I missed that feeling of waking up every day and yearning to try a DeFi protocol, learn about a new project, or meet a friend in the crypto community. I realized that being a part of the community was important to me and that it was a part of my life I wanted back.
Why I’m Back
There’s a saying that “time heals all things,” and even though this might not be 100% accurate, I’ve learned a lot over the past few years that has helped give me a better perspective on crypto. First and foremost, I learned that I wasn't such a great fit for a high-stress corporate job, and I ended up leaving my job in traditional finance. Being free from the yoke of corporate censorship has given me the ability to reconnect with projects that I enjoyed, and participate in the community without worrying that a small slip-up will lead to a reprimand or termination at work.
I know it sounds silly to talk about this in a post about cryptocurrency, but I've also grown a lot as an individual over the past few years, and I've learned that holding true to our values is important. When I dove into the cryptocurrency world sometime around 2019, I was a true believer in the values of empowerment, decentralization, and creating better financial opportunities for everyone. Witnessing a constant stream of scams and rug pulls made me see the entire crypto space in a negative light, but I realize that was the wrong perspective. There are scammers in the cryptocurrency industry, but there are also scammers in traditional finance. Every tool has the potential to be abused and used for nefarious ends.
What I Learned
Don't get me wrong. I still think that cryptocurrency can be risky. I still think that there are a lot of scammers in the space. I still don't feel comfortable YOLOing my life savings into a new NFT project. At the same time, I've come to accept that something doesn't have to be perfect to still be valuable. Sure, cryptocurrency has its negatives, but it also has some amazing positives. It's not fair to just think about the energy use of cryptocurrency without considering the life-changing potential that cryptocurrency has to bank the unbanked. It's not fair to obsess over falling NFT prices without also acknowledging that cryptocurrency can be an effective payment mechanism for workers to send remittances to their families in impoverished countries.
I learned that it's important to think about the "big picture." There are very few things in life that are completely perfect, but what do we do when something isn't perfect? Do we smash our piano if we can't play Für Elise on the first try? Do we drop out of college the first time we get a low mark? Hopefully not! When we believe in the value of something, we don't give up at the first sign of adversity. When we care about something, we work to make it better. We acknowledge the things it currently does well, but we also speak openly about what it needs to improve and where it could do better.
I'm glad to re-enter the crypto world with a new mindset. I'm not a die hard devotee that unquestioningly embraces every new project, and I'm also not a jaded critic who seeks to put projects down. My new philosophy is to accurately assess the benefits and limitations of crypto while leaving my ego out of the equation and realizing that my opinion is merely an opinion. I not get everything right on the first time, but I'm committed to growing and learning.
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