The Struggle Is Real:
Despite my tenure and experience, I know I'm not the only one that struggles to keep focused when there's so much to pay attention to in the crypto space. It's really hard unless you live under a rock or in a bubble.
There are too many options and not enough capital to catch them all. If you do, a dozen new opportunities present themselves and the goal posts are pushed out again. Can we ever truly be happy with what we have and tune out of crypto for a while? Is it a missed opportunity to not borrow against your crypto to take full advantage and avoid taxes? Argh... It's sometimes just too much, and that's not even factoring in the massive price swings!
Obviously, life is much more than the cryptosphere we've become rooted in, but there honestly doesn't seem to be enough time in the day to perform standard operations and stay caught up with everything.
Let's forget the fact that emotions can take a toll during market turbulence to cloud priorities and judgment. Staying focused on just basic crypto news and developments is enough to take up most of my day when I let it.
While my typical reaction to a strong dip is to get my ass in gear (take action) to make as much cash I can do tack on to projects I've been stacking, this can make newer adopters doubt themselves. Many people correlate price with success. I correlate pride of the tokens I've went to war for over the years and held as my measure of success, both now and in the future. When prices are up as a holder, it's normal to feel happy, but I'm experienced enough to know that it doesn't last. Fear and greed kick in for the larger masses, leveraged traders extort that, and I usually just sigh knowing that what goes up must come down. Thankfully my sighs are short-lived because defense mechanisms kick in to see it as opportunity to build positions in newer projects I've committed to.
Ohhh price discovery, I love you and I hate you. This road is long and hard, but the faithful will prevail.
Let's change gears...
Airdrops Change The Game:
While I need no guidance on why I hold and have held for as long as I have, I'm constantly researching airdrops and new projects. I'm not buying major amounts these days since I'm comfortable with the hard work I've done in years prior, and like my round numbers to not want to swap tokens much. This is a pro and a con as I've definitely missed out on some ground floors because I told myself that token X never goes below Y volume ever for most of my holdings.
On the airdrop front, I scour several websites that aggregate ideas and proactively hunt around YouTube for rumors and tutorials. One I find something concrete I'll qualify for or want to become eligible for, I join the respective Discord groups on my incognito account. I'll then have no shame in asking questions and troubleshooting. For example, something I was stuck on by myself for a month was resolved with one question once I found the right Discord group.
Once an airdrop is on my radar, I record it on a key list I track, set goals, dig into the details to make sure I'm qualified or likely qualified, and try to spread the word among my friends who trust me for crypto advice. To be honest, I spend a LOT of time trying to educate friends and family about crypto, which I do to try to do in the name of helping them see the light I see. Not everyone is as proactive and I don't know why. Free money that you can compound and make more free money with? Why would that not be a good idea unless your jurisdiction prohibited it? While I see every opportunity as a golden ticket, it's not easy for me to get others to feel the same. Heck, my best friend FINALLY bought crypto after nearly 5 years of my trying, while another super close friend can't give up the devil's advocate role and their old-school "safe" finance 1.0 mindset.
I've been fortunate to have invested early in some tokens that had me primed for several rounds of snapshots, which then opened the door to more airdrops as I used the new tokens (versus dumping them). Holders, adopters, and those who experiment are rewarded well on good chains. This has been my strength in the last 2 years or so. I've seen the value of getting exposure in many places, and have gotten a solid education along the way. This is why I often suggest that there's a lot more out there beyond the Hive-mind. It pays to learn and gain experience outside of our comfort zone. Ironically, Hivers are in line for 1 or 2 upcoming airdrops, but it's not the norm.
Quick side story, I sold a Le Creuset pot I recycled from the curbs in my city for free to a friend for $50 in ETH (I'd previously gotten them on an exchange). I then used that ETH on Uniswap and was unknowingly locked in for 400 UNI that I swapped for 5 ETH (and paid taxes on). While prior drops had been good but much smaller, this was eye-opening and changed my scope on airdrops. They're huge opportunities and worth hunting and working for.
Now I don't degen in DeFi or bet on low cap pump & dumps, but I do see the value of expanding my horizons to increase my eligibility for organic snapshots along the way. However, I'm curious as to how any of you balance your risk and time in this aspect. Are you paying close attention to rumored airdrops and doing what you can to be eligible, or is this sort of activity not worth the hassle if it's not a guarantee?
Organization:
For most of my time in crypto, I've logged everything in a file that's obviously protected offline. I'm too far along in my crypto adoption to just keep mental notes on macro moves. It's also interesting to see how I've evolved over time, and where my attention has shifted. It's also vital for tax purposes and helps me when trying to educate others.
After years of long phone calls and text alerts to individuals or groups, I've even finally taken the step to make my own Discord server where I've invited close confidants to share my tips in a more structured fashion. I wish I did this sooner.
The goal of my Discord server to help them, but also stay more organized for those I help in the future. All the information I share will be archived for them to scan through so I don't have to repeat myself. This is a lesson I learned where the help I give usually yields nothing in return other than the personal satisfaction that I tried to help others. I've learned that while this is a noble cause, my time is important to budget for myself to make sure I'm working towards my goals. This refocus also helps reduce the impulse to reply immediately to texts and repeat myself when the next person may need to be told the same info. I don't think I'm being selfish in trying to protect my time, because in the long run, the more I allocate to my own goals means the more people I'll be able to help with my crypto. Furthermore, I can't even imagine how many hours I've spent trying to open peoples' eyes that has not yielded one positive step in their personal crypto adoption or interest, so at some point, it's ok to stop trying. Some people are simply not going to get it, or simply don't care. It's unfortunate, but they'll be fine enough on their traditional path. Crypto and its principles aren't for everyone.
^For those who know what I'm talking about or have similar experience, how have you balanced the bandwidth of trying to help others and yourself?
Information Overload:
There are just too many projects, too many crypto influencers, social media crypto "experts," and new developments to keep up with. I've thinned my social media following time down quite a bit, but do passively listen to some YouTubers I trust (on 1.5x speed) for general project updates. I generally ignore price predictions these days because they're often filler garbage where substance is lacking/the wrong focus, and try to focus on new trends/opportunities that have real traction. The influencers are also trying, and often are paid, to influence anyway -- so best to tune them out. I most enjoy macro interviews with project leaders and government officials to try to form my own opinions and have confidence in the general direction of crypto adoption.
Thinking For Yourself:
Tied to tuning out influencers above, I've usually marched to the beat of my own drum in crypto. I've had some key moments of weakness where I allowed myself to get influenced by an ex girlfriend who said she "needed a man who focused on real money," or let YouTubers get me too hyped up about older projects. I rarely buy on hype, but I've previously allowed their "advice" to become a distraction because my curiosity drives me to waste time researching their tips, or making feeler investments on off-brand exchanges. While it's all part of the process of learning the ropes, I'd love some of that time back.
At this stage, I have full conviction in my views and projections of the cryptosphere. I've come too far and am a full believer in it. I may not alway be the first to act (because I did years ago and don't need to as much now), but once I wrap my arms around a concept or opportunity, I make sure that I set a goal and work towards it.
As small of an example as it is, buying my first Splinterlands Plot is a recent example. I slept on SPL for 4 years in fear of losing time gaming, but am aware of the blockchain and P2E gaming world that lies in front of us. While SPL isn't the end-all-be-all, my perspective has shifted to be open-eyed about the gaming potential ahead. NFTs with P2E and utility potential are intriguing for the long haul to have my foot in the door on various projects, and I can likely rent or sell some them to recover most of my outlay in the worst case.
The truth is that this is a new universe and it's ok not to be fully settled yet. We're the pioneers.
While this was a rant of sorts, I'm sure that many can connect with some pieces of this. I'm not a greedy person to try to make a quick buck or dive into something just because there's hype, because that's not what excites me. It's been a long road, but that's where I find my clarity and peace.
When the crypto noise and drama dies down, yet the markets don't, do you sleep well at night?
Thanks for reading! Looking forward to any ideas below.