This is a beginner's guide on the mindset required to survive and thrive in cryptocurrency. Memorize it. Print it out and put it next to your bathroom mirror. Abide by it and be well. The bear market is full of danger, but for those who survive…the blessing of the bulls changes lives.
Read On.
9. The Dollar Is Dead
Everything you were told about money is a lie. The dollar is a scam. Money is a meme. The American dream was brutally murdered in 1971 and has been a corpse puppet on TV, Radio, and Podcasts by the investing class like a scene from the award-winning 1993 comedy, "Weekend At Bernies Two."
Bitcoin was made to Falcon Punch the debt slavery cycle we are all trapped in. It’s doing it by degrees. The war is won but there are many battles to fight. Every Satoshi you acquire is a bet against the current system, what we in crypto call “TradFi”.
There is no such thing as “saving for retirement”. Savings accounts are just grey money buckets for banks to access free liquidity. In order to get ahead in life you have to:
8. Be Your Own Bank
The only path to making money in this world is through active management. You must be your own bank. You must be self-sovereign. Whenever possible you should self-custody assets and bring them under the latest legal protections. You must be abreast of the basics of tax law and how to protect your assets and minimize your tax obligations. You do that by learning how to:
7. DYOR
Do Your Own Research. It’s a mantra. It’s a lifestyle. It’s necessary to make gains in this world of debt slavery. It is a REQUIREMENT for doing well in crypto. If you do not do the RIGHT research, you WILL get rugged (short for rug pull, or scammed). Research involves reading, listening, and watching. Don’t just consume content from influencers. Dig into the why and how of a crypto project and check it’ merits.
Is the team doxxed? What are the tokenomics? Has the project been audited? Is the Twitter account active? These are the basics of project research. Once you get used to doing the research you’ll start to understand what we mean when we say:
6. WAGMI
We’re All Going To Make It. It’s what crypto bros and girls tell each other when the going gets tough. A stoic mantra of crypto-kind. If you can stomach the 90% crashes you’ll be able to make the 1000x gains because those who didn’t have:
5. Paper Hands
Having paper hands means your constitution is weak. Your resolve is poor and you are probably a beta bitch. "Paper hands" was coined in the WallStreetBets subreddit but quickly became the go-to insult among crypto enthusiasts. Paper hands mean you are afraid. You can’t handle the drops. You fold your hands and sell the bottom. You are the opposite of:
4. Diamond Hands
The pristine, peerless shine of a plebe (crypto newbie) holding onto crypto gains through a downmarket. You are unbroken. You are pure. Your resolve is tested and found to be true. You can hold your crypto with diamond hands through the fire that burns up all the pathetic paper handed cucks. You have learned from the best and part of your diamond-handed strategy has been:
3. DCA
Spreading out your risk by averaging out your purchases over a schedule is called Dollar Cost Averaging. And while others will YOLO their money into a project, you are taking the opposite approach. You build your stacks consistently and without emotion. You may add a little here or there on a red day but by and large, you are committed to the craft of hodling crypto. Like a Samurai is bound to his Lord, you are consistent and faithful. And for that, you will reap the rewards. But as you add to your stacks you remember that the path to wealth is a solo journey. You must expect self-rescue. And never ever let someone else hold your stacks for you because:
2. Not Your Keys Not Your Cheese
Tokens and Coins are found via your seed phrase or private key. If you don’t have the key, you don’t have the crypto. As simple as that. Centralized exchanges like Coinbase, Binance, and Kraken are holding your coins FOR YOU. And if they go away, your stacks go with them. Crypto is about self-sovereignty. Not handing over your wealth to a custodian. Millions were lulled to sleep by this siren call of TradFi. “Use our website for amazing gains and we’ll do the rest…we have government backing…look at our investors from Wall Street…we’re smarter than you, give us your Bitcoin”…It was all a sham. Many strayed from the path of the cypherpunk, of self-sovereignty. They learned an important lesson. They learned:
1. FAFO
To Fuck Around is to Find Out. If you take a shortcut, hand your keys to someone else, don’t do research, or just want to get rich quickly in crypto, you are fucking around with forces way beyond your control.
You must abide by the ancestral tenants of crypto in order to change your life. Failure to do so will result in a harsh lesson. Remember. A boat can sail in two different directions in the same wind according to the skills of the sailor.
