Quick thread on "Crypto never sleeps".
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We tend to fall into a certain thinking pattern(s):
(1) Crypto never sleeps
(2) I need to be connected 24/7
(3) Staying on top of all the developments is a must
(4) I want/have_to know about every project there is
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(1) Crypto never sleeps
(2) I need to be connected 24/7
(3) Staying on top of all the developments is a must
(4) I want/have_to know about every project there is
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While (1) is certainly true, (2)-(4) not so much.
Just think about it - there are hundreds of project launching just on @terra_money, similar on other chains: @harmonyprotocol, @avalancheavax, @FantomFDN, @kadena_io,...
There is no way anyone can cover such breadth alone.
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Just think about it - there are hundreds of project launching just on @terra_money, similar on other chains: @harmonyprotocol, @avalancheavax, @FantomFDN, @kadena_io,...
There is no way anyone can cover such breadth alone.
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Any effort to do so is destined to fail, so... no - you don't need to stay up-to-date on all possible developments.
You don't need to know about every project either!
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You don't need to know about every project either!
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With so many of them, and so many *good* projects launching (that bring actual value to people), investment opportunities are plenty.
The key is in finding a system to sift through them.
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The key is in finding a system to sift through them.
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Find a process that works for you.
First filter out those that *might* deserve more attention. It could be:
- a specific chain
- a type of projects, e.g. lending, yield optimization
- a type of projects to avoid, e.g. meme coins
- project at specific stage, e.g. pre/post IDO
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First filter out those that *might* deserve more attention. It could be:
- a specific chain
- a type of projects, e.g. lending, yield optimization
- a type of projects to avoid, e.g. meme coins
- project at specific stage, e.g. pre/post IDO
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Then do high/mid-level research on a project.
An idea I try to implement is time-bound exploration. Setting a timer for 60 minutes and removing all distractions, I try to learn about a project as much as I can.
If that makes me feel like possibly investing, it's a pass.
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An idea I try to implement is time-bound exploration. Setting a timer for 60 minutes and removing all distractions, I try to learn about a project as much as I can.
If that makes me feel like possibly investing, it's a pass.
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Last step would be a bit more detailed research, longer than in previous step. That's to reconfirm you're betting on the right horse.
Stay on top of the developments of the projects that made it to this step only - these are your investment candidates.
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Stay on top of the developments of the projects that made it to this step only - these are your investment candidates.
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With any hope, that will let you avoid spreading yourself too thin. Better to hold 5-10 bags with conviction than 30 with desire to drop at moment's notice.
As well: it's easier to track 5-10 projects than 30.
YGMI even with 5-10, that's for sure.
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As well: it's easier to track 5-10 projects than 30.
YGMI even with 5-10, that's for sure.
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Heck, YGMI with just 1, likely (#LUNAtics IYKYK).
But, 5-10 might be a bit more prudent... and let you still enjoy some non-crypto-related life.
Mi familia, IRL frens, outdoors or other hobbies.
@AltcoinSherpa recently started posting photos from his travels - role model!
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But, 5-10 might be a bit more prudent... and let you still enjoy some non-crypto-related life.
Mi familia, IRL frens, outdoors or other hobbies.
@AltcoinSherpa recently started posting photos from his travels - role model!
/10
TL;DR
Crypto is awesome and deserves attention. So do other things. Being glued to CT, TG and Discord might not be as necessary as many would think.
/11-end
Crypto is awesome and deserves attention. So do other things. Being glued to CT, TG and Discord might not be as necessary as many would think.
/11-end
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