Thread by @swombat

WAGMI. It's a wonderful meme in crypto. We're All Gonna Make It. ♥ this comment from @MessariCrypto (img).

It's also obviously untrue.

We're not ALL gonna make it. Some will lose their shirt. Some will have a meh outcome.

Wanna know how to max ur chances of GMI?

Read on.

👇

To clarify GMI, I refer you to Abraham Maslow's... I mean @punk6529's awesome thread (

https://twitter.com/punk6529/status/1435229502708322313

).

In my view, GMI in the context of web3 means using this giant opportunity to bump yourself up a few levels on the 6529 scale over the next decade.

WAGMI (or not) - but Making It in what? What is it we're early for?

I invite you to look more broadly than "crypto trading" or "NFT projects" or whatever specific bit you're looking at, at the overall field. We're early for something currently loosely called "web3".

What is it?

I believe web3 is a huge wave of innovation in the technological, social, economic and political world, that will transform our lives over the next 2-3 decades as much, if not more, as the internet itself transformed our lives in the last three.

Web3 is a Tsunami.

Now, a rising tide lifts all boats. But make sure you're in a fricken boat, not clinging to a tree or getting washed out to sea alone in your pyjamas. Tsunamis are big violent things.

Web3/crypto isn't just investing, trading, speculation and ponzi games, though it may sometimes feel like that.

In fact it's mostly not that.

Web3 has the potential to disintermediate most of the economy. And it will be driven by the stuff people are building right now.

This is huge. The disruption web3 will bring to the world creates an enormous pool of opportunity for anyone willing to take part.

Most people won't take part. If you're reading this thread, this is what you have a chance to be very early for: the next giant wave of innovation.

There are millions of ways to take advantage of this wave of opportunity coming with web3. They have different requirements, pros, cons, etc.

Most ppl rn are fixated on flipping jpegs and coins, but those are, imho, not the main ways to GMI in this context.

Let's look into it.

1) Investor
If you have the money and you're willing to learn the fundamentals of some of the market, then being an investor can be a way to GMI.

What does it mean to "have the money"?

"You should only invest money you can afford to lose" is a bit vague.

I say: you should only invest money that, if you lose it, will make no substantial difference to your lifestyle.

The reason is simple: if your lifestyle is tied into it, you'll make emotional decisions.

Entering and exiting investments should be based on rational calculation, looking at the fundamentals (or the TA if that's what you're into), making an informed bet and then riding it to its conclusion.

If you have enough money you can risk, investing is a good path to GMI.

But most people don't have enough money to invest. Most ppl have $0 they can afford to lose without impact.

You're NGMI starting with $100. If you don't have money already, this path is not for you.

If you do have at least, let's say $10k that you can afford to flush down the toilet, then my suggestions for GMI through investing is to become an expert at some area of web3 and then invest in the good stuff there.

There are so many scammers, you have to rely on yourself.

2) Trader
Trading is an art and a science. Not everyone's good at it. It seems simple, but it's hard. Most ppl suck at it (I do). But some people can get really good at it.

Trading can be a fruitful way to GMI. But... like investing, it requires capital.

Even more than with investing, you need to have a strong stomach for losing, because plenty of trades don't work out. And if you get emotional while trading, you're gonna get rekt. Other, less emotional traders will just steal your lunch.

Even if you're good at trading, it's always possible you'll get hit by an unexpected bear and, in something illiquid like NFTs, you'll lose everything. It's a risky path, but it can be very profitable for some.

So it needs money and mad skills. Trading is not for most, imho.

3) Art
If you have ambitions to be an artist... this is your time.

Whatever your art is... the opportunity is banging down your door.

Right now, only visual arts have really been figured out, but we're just getting started.

Disintermediating the "art industry" is probably one of the biggest benefits web3 will deliver upfront.

I don't just mean art galleries, but record labels, publishing houses, even YouTube and TikTok, hell maybe even twitter threads? 🤔...

Yeah, music and books and movies haven't been NFT-ized yet, the models haven't been developed. But it will happen.

If you're a creator of some kind, this is your moment.

Jump in, figure out how you can create on web3. Some stuff will work, some won't. You'll figure it out.

Best part for artists is: you don't actually need much to get started. No capital. Just an urge to create, some skills, and willingness engage with this new medium.

If you're getting involved in art/creation and web3 in 2021, chances are YGMI.

4) Makers, builders, devs, enterpreneurs, marketers, salespeople...
This is a big one. It's HUGE.

Imagine being alive in 1995 as the web was just beginning, and *knowing* that this huge thing is coming?

That's where you are right now.

Imagine then continuing with your day job and watching from the sidelines.

There's a reason why, as @cdixon put it, so many smart people are quitting their jobs and moving full time into web3.

They don't want to sit on the sidelines.

If you can't quite your job because <responsibilities> at least find ways to get involved in building stuff in your spare time. There are entire cryptonations being built from scratch, they'll take all the help they can get.

https://twitter.com/RealNatashaChe/status/1453452516524392450

The best part about this new startuppy world of web3 is that it's more inclusive than ever before. The tech world has been plagued by discrimination based on gender and race. But web3 is often pseudonymous. Everyone's on blind audition if they want to.

And learning to contribute to building something costs only your time and your smarts.

If you're rolling up your sleeves and participating in building the third wave of the web? YGMI.

As an entrepreneur, this last option is of course one of my favourites.

If you don't have lots of money to invest or trade with, and you don't think of yourself as an artist, it's a great path to success.

It doesn't happen overnight. But as I said, web3 is here for decades.

WAGMI doesn't mean we're all going to luckily stumble on the right get-rich-quick scheme and win the lottery.

It means we're building the future, and anyone who wants to help is welcome, and all of us building this *future*: we are literally going to make *it*.

gm & gl