A Letter For (Myself &) Everyone in Crypto Space
The market condition has been pretty bumpy as the crypto market is deeply entrenched in the crypto winter state and yet the announcement on the merging of Ethereum (in layman's terms, Ethereum will be adopting Proof of Stake, making it environmental friendly) in Sept 2022 has swayed the market towards the bullish side a tad bit.
If you were to ask, “Has the market bottomed, and if it is ready for an upward trend?”, I would say perhaps not, with all the macroeconomic impact but really, I wish I have a crystal ball to foresee the future.
But I don’t.
In all honesty, the crypto market has been less bustling compared to a few months back, especially in the NFT, DeFi & DAO space.
Back then, it feels as if new NFT projects are emerging every hour or so. New airdrops or DeFi projects to be experimenting with. Adrenaline was pumping high, and so does the excitement and the FOMO-ness.
The lack of all these right now brings about a sense of tranquility and emptiness.
The loud noises of “To the moon”, funny memes, hard shilling on projects, and unstoppable notifications going off on every platform especially Discord were nothing but a daily occurrence back then.
Now, it is merely an occasional occurrence.
I am not saying that everyone has left the space for good or that Discord is not as merry as before.
Not at all.
Some communities are still vibing in Discord despite whatever has happened in the market and it is a soothing sight. Other communities or projects are building real hard during this time and they are really grinding.
Contents especially on Twitter & YouTube are much more focused.
Yes, interest is falling, and great content on YouTube is gaining merely a few hundred views (some of them used to gain tens of thousands of views) and I feel for them. Deeply.
But, the harsh truth is that it’s a cycle as with everything in life.
With every up, there will surely be some downs.
In this tranquility mode, let’s seek the time to learn.
With the filter on, isn’t now the best time to be one of those creators, builders, enthusiasts, and communities who believe and stay for the tech while striving for the future of this space by persevering through this quiet time?
It’s easy to say WAGMI or LFG when it’s bustling, it’s another to be able to say the same thing when it’s a lot quieter.
As I took up reading “Thinking in Bets” by Annie Duke, a professional poker, an extract from Annie strike the chord and I think it is especially true with the crypto space in the current early phase,
Chess, for all its strategic complexity, isn’t a great model for decision-making in life, where most of our decisions involve hidden information and a much greater influence of luck.
Poker, in contrast, is a game of incomplete information. It is a game of decision-making under conditions of uncertainty over time.
Life is more like poker. You could make the smartest, most careful decision in firing a company president and still have it blow up in your face.
-extracts from Thinking in Bets by Annie Duke
As uncertain as everything seem, I hope everyone who is still in the crypto space can persevere through and it’s important more so than ever to stick together during this uncertain time.
And to believe in technology.
At this point, if you are wondering if I am pivoting away from my usual educational content - Not at all.
In fact, I have been taking more time to research, to take time off from everything so that I can emerge fresher than ever before to continue this journey in creating better content & I hope you can continue the ride with me. (I will be releasing an article very very soon & hoping to share what I have built recently!)
With that, I hope everyone is doing well & please do take a break every now and then.
I would love to hear what your thoughts are on my content & feel free to drop any suggestions, feedback, or notes here or you can more than welcome to email me directly at siawhui.my@gmail.com
For some of the jargon used in this write-up, you may take a look here.