I knew a few people from 2021/22, when the market was booming, but 90% of them are no longer present, nearby, or available. I am not talking about Hive specifically, but rather about people who were actively farming the crypto opportunities that were available.
You could literally sneeze and make a couple of hundred dollars; everything had potential profit, and it literally drew people to you. You know, the people who yearn for fame, success, and stinking wealth. There was only one thing that mattered: profit, and when everything went wrong with the crash of LUNA, many people were lost in the industry, and you can not find them.
You might have assumed that the wealth generated in 2021 would be saved and used to offset all of the crazy dips we experienced in 2023, but this is not the case.
Crypto can destroy people as much as it can enrich them, and this is not the fault of crypto; it is how we believe the good times will never end while also believing the bad times will never come. A sense of abundance can lead to complacency. It is like living haphazardly in your youth, forgetting that old age is inevitable.
In the Bible, Joseph predicted seven years of plenty followed by seven years of famine and starvation. He instructed Pharaoh to look for someone who would save food during the years of plenty so that people could live on it when the years of famine arrived, so the King assigned him the task.
A Biblical Allusion
When the 7 years of plenty ended and famine struck, other kingdoms around the world were forced to come to Egypt to beg or buy food. Now, you must understand that these other kingdoms also experienced a period of abundance and wealth; they simply did not save enough because they did not anticipate that all of that wealth and money would no longer be available to them someday.
Crypto is similar to this.
It creates the mindset that you'll be rich forever, because you're in so much profit, it blinds you to what might happen the next day, week, months or years. Back in 2017, when BTC mooned so hard, we assumed there would be no dips beyond certain thresholds.
I mean, why should a person who is in the stars fall in the mud? They may fall, but not completely; unfortunately, this is not crypto. Any coin can moon so hard and leave you with generational wealth, or dip so low that you can not even buy a cup of coffee, that is how quickly it can change.
We did not understand this at first, but we learned from these experiences, which left scars. However, not everyone is capable of bearing the scars left by volatility, which is why you can barely see most of the people you celebrated with in 2021/22.
Some of these people no longer roll with you because you do not have much money anymore; they probably do not either, and they have nothing to gain from you. They probably do not want to hear you talk about "buying the dip" or things like "be patient, the market will moon again, keep holding" because they are done and over, and you are just one of those memories they made when there was plenty.
Crypto money brings people together in unhealthy ways, and this is one of the topics we do not discuss enough. It is a secret that crypto often reveals.
In Conclusion
In the same way, crypto attracts people who are not ready for the ride. It is similar to how Black Friday will literally attract people who are not intentional shoppers; they are simply drawn in by the price reduction and the potential iPhone 16 they stand to win if they shop for specific items.
It is like saying stake $50 and earn $1,000 per day; these are the things that entice people to invest in cryptocurrency, and some of these bros will come your way again in a few months; they are literal friends you will make from being abundant, but I believe you are better off sticking with the ones you have been grinding with throughout the bear market.
I believe the most important reason is that you must remember that the period of mind-bending pump will come to an end, and you must prepare for when it will not be present.
Interested in some more of my works
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Ah, for sure there are people who went "missing" when the hard times came. And unfortunately, we have example of businesses, not people, which don't properly plan ahead and are caught by the FOMO and think the good times never end...
It's actually very easy to be caught in that "the good times never end" mindset. However, guys like us have learned that you actually need to stay long and properly to be able to take advantage. In 2021 I felt I'll never be over
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I can recall the atmosphere on Telegram groups about users who were planning what they'll do with the loads of profits they've made. The atmosphere was so contagious that I find myself getting carried away by the dream of "happy endings". Needless to say, most of us didn't sell at the top, no profit taking and the dream became a distant memory that we're not keen on visiting. I think being realistic is always our best bet on making the most out of bull seasons.
Telegram and Twitter was like the bull hub back then. I made a lot of bull friends, sadly I don't think I still talk to 95% of them, they're just gone. It's a reminder how the feeling of good times can be fleeting
I think when reality hits in, many just refuse to adjust, they will rather go back to their old ways with less volatility and more stability. I'm glad I didn't follow that route tbh.
There's a lot of confusion when things change and like you, I'm glad I didn't follow that route.
That's right, we no longer see people who used to say that crypto is dead and the market will never go up.
A huge percentage of them are still here, but well yes, we don't see that particular population
There are a lot of people who entered this space expecting short-term gains. It doesn't work out that great and I think it's better to invest in solid cryptos. We never know how things will go in the future but I think those solid projects have a better chance.
Short term doesn't cut and no one makes anything decent unless you're already coming into the market with a lot of money. Indeed, solid projects will benefit from the bull run.