Hack 101: Surviving The Boredom Of The Bear Season.
So many people are already beginning to imagine what they'll do if the bear market rages on for more than a year. I mean, what we saw in 2018 was epic stuff, it was like Armageddon. It was the definition of "bear", the type that makes people doubt their decisive capacities.
This means that when the bear started people were hopeful, when it got to a stage, they became jittery and before it got to the end, many had already sold everything they own.
Typical of people to react when they're feeling like jumping out is the only way to survive. Sometimes you can't help but imagine how far we're going to fall. The thought that the bear market will be bottomless is distracting, this is why many people cannot accumulate. Why accumulate what you're not even sure of?
What Constitutes This Boredom?
However, the bear market is boring and this is because many people bank on the great prices that come with the bull market as a motivation to interact with Crypto. Not just interact, some traders or crypto owners are like this too.
For example, Twitter is full of "shillers* who are trying to get people to buy the millions of crypto projects, but how do you shill a project that's down by let's say 75%? It's hard to shill when people are salty and on the brink of either staying calm or losing their cool.
For example, one of the best ways to shill a project without any basic functionality, use case, or utility is to do so based on the numbers. However, if the numbers aren't there, what becomes the motivating factor to buy into these projects?
Selling Numbers & HYPE
Projects like HEX depended on those massive figures as their major selling point. However, we've established that the bear market can be extremely boring, but this isn't the same for people who are on a blockchain like Hive. Honestly many newbies who are into this space are already beginning to wonder what they'll do. If they don't have that price anymore to spur them on.
Some Of The Best Things To Do
The best thing is to build solid networks by forming more impactful relationships. Many people do not know, but the bear market is the best time to make new friends. Most of the people I know on the chain were friends I made during the last bear market. Accumulation is the most used word and synonymous with the bear seasons, but this isn't just about filling your bags alone, it's also about knowing more projects, knowing more people, and forming interesting alliances.
Take Advantage Of The Ease In Accumulation
It's easier to build one's Crypto goals during the bear season. Technically it's the worth of one's portfolio that decreases, we only really lose when we sell and that figure becomes fiat or stable on our hands. But then we never really know the importance of building until the bull season comes.
On Hive here, the bear season is more of an illusion and one of the reasons why this is so is because the activities, the projects, the people the tokens are all the same, the impact of the seasons does not influence the functionalities on the chain, what it virtually does is to change the worth of people's holdings, probably payout Hive instead of HBD.
Another thing is that one's stake can be used as well to influence governance, plus your stake continues earning you more hive and other tokens throughout the seasons, you're using the stake to curate and earn more curation rewards, this eventually adds up.
Focusing On Volume
Engagement is another way to get past this boredom. On Leofinance for example, we're seeing huge numbers and unique visits, I think people are mostly doing this to attain traction and visibility for the moment because this might influence their payout in the short run. But over time, the rewards are thinned in the aspect of value rather than volume.
This is when engagement becomes even more crucial. However, the numbers might just continue and not decrease, this is because many people have learned that staying here or showing up during the bear is profitable over time.
Another thing is to create better content, do not let the quality of your content dwindle especially when the dollar value continues to decline. When you're accumulating, bear in mind that it's more of the volume rather than the value.
Join established communities, then if you're the gaming type, you can decide to invest some time and maybe money on any of the P2E games built on the Hive Blockchain. Exploring the gaming aspect might just be a necessity whether you're a gamer or not. The aim is to spread out your involvement in preparation for the next season.
Interested in some more of my works?
Crypto & The Outrageous Learning Curve: My Splinterlands Journey As A Case Study
Understanding & Adjusting To The Real Purpose Of Motivation
Thematic Expression: African Child (Shot & Edited On My iPhone 12)
How I Create Original Images for My Blog & Why This is Important
Budgeting: Paying Yourself First With Crypto
Establishing Compatibility: A Case For Self-Improvement
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Very well said. Focus on the volume, not the value. Of the tokens, that is.
Regardless of what happens short term, you're building wealth long term.
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Yes, during the bear, it's all about the volumes at least for me, I make focusing on that a huge priority.
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I guess regardless of the bear being heartbreaking, there are still so many perks in the long run.
I try to focus on that instead of the situation now, the goal is to keep doing what I was doing.
It's more psychological impacting. What the bear market often does to people is to take away their will to survive.
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It has also made me start considering a lot of things; learning a skill and getting a job because it is showing that at this point, I can't survive on just crypto.
Hahaha exactly what it does, a job would be great at this moment, if you can get one.
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Key word "if I can get one"
We live in a messed up country by the way. A job always seem like a nightmare.
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I should know, I have resigned from 3 jobs in less than a year, it is crazy.
That's crazy, the one I did nearly took my life. Going down that road isn't something I want to. Maybe devising other means to survive will do a lot of wonders.
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I can understand but what other means are there??
I think the strength of the community is a key factor. For coins where people follow influencers, I don't think it's that strong and I believe that is also the reason why most of them fail. Although a lot of those are scams, to begin with. Passing time in Leofinance is nice but there are so many bear market posts when it's that time in the season.
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Following influencers can be misleading. If many people tailor their goals to looking for great projects to invest in I'm sure some of these scammy projects will have no one buying into them at all. I guess it's the game of APR.
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Nicely put together. Great pointers on value eventually and post quality. The one that adds the most value wins in these streets.
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Well, we for now, it's all about the volumes for me rather than Value
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I feel like a child that is learning to walk in this space. Crypto has been scary to me solely because of this bearish seasons. But now, I am getting to feel the excitement that comes from exploration, just like when a child walks a new record distance for the first time.
Of course, he would fall a lot of times, but he will still stand up and walk again.
Thanks for the hack, brother.
Nothing to be scared of, we cannot remain in that bubble forever. The bull and bear seasons are inevitable. We often use one season to compliment the other. The best would be to find your own unique way of staying afloat.
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I agree... Completely.
Ignore the downvotes this article is awesome. In fact, I am now following you on Twitter. I agree with you regardless of how long this bear market lasts, it is a huge opportunity to start a massive accumulation.
All of those that experienced the Bear market in 2018, stuck it out, and accumulated have profited in a huge way.