Sometimes my brain, by nature – maybe yours too – tries to construct scenarios that rewrite the actual story in a more favorable way to avoid the discomfort that comes with regret, disguising it under a more pleasant memory.
At the bull season, I lie down and imagine myself going back in time and I start picking up more coins when they were real cheap.
But when the bears start ravaging the crypto-village, then I find my brain turning to alternative scenarios where I’ve sold certain coins earlier when the price was higher.
Either way, I usually quickly come to my senses. I remind myself that you cannot turn back the hands of time, and that all you can do is learn from these lessons for when the opportunity comes back again.
This year at the bear season, I noticed the strangest thing.
I realized that I wasn’t alone in this, and I’m not talking about individual investors getting stuck between FOMO and time travel because of lack of experience.
I’m talking entire coins, actual cryptocurrency leaders and their dev teams not accounting for the bear market and maybe neglecting to take advantage of the golden opportunities that laid ahead right in front of them.
They were probably thinking that things were always going to be like that, or better yet, that the prices would skyrocket further towards the moon.
The normalcy bias, it’s a real thing. But I try not to judge, the sector is still young and we’ve all made mistakes.
Today it seems that the times of wine and roses are long gone – until the next bull run anyway – and what we’re starting to see is a predominant conversation is what should’ve been done when the sun was shining bright on the cryptocurrency markets.
Finding more investors? Maybe. Securing more revenue streams? Absolutely.
I guess we would all agree that all these things would’ve been much easier back then than they are now.
How about growing the user base in the midst of all that media attention?
For once mainstream media was saying something positive about the sector and we all let that opportunity pass.
In retrospect, if given the possibility to go back in time…. I guess that just about everyone here would’ve taken advantage of that massive hype train and tried to onboard as many new adopters as possible, expanding their markets even further.
After all, it’s certainly easier to do marketing when the fears surrounding crypto are mostly fears of missing out.
But since time travel isn’t possible, all we can do is to learn from these lessons for the next time, because we wouldn’t want to prove Einstein right on his theory of insanity.
Today as I woke up, I discover the rivers of digital ink that has been spilled to cover the latest Facebook scandal. Mainstream outlets are covering it across the board, from The Hollywood Reporter to Vice magazine. This is no longer a tech issue, and that’s probably a good thing.
The Devil in a Blue Dress
Your private messages has been shared with over 150 companies and FB is making a buck out of your privacy. In crypto you can make money out of your own data, talk about a presentation card.
In this year alone, millions of people have left Facebook, and this is only because the leaks that we know off.
Wait until everyone finds out that your phone sitting on your night stand is recording you having sex with your wife and immortalizing every bit of it.
Or better yet, wait until everyone finds out that there some big companies selling that data off your back.
But I always suspected that the exodus will happen way before that.
Things will start to shift as soon as some big time influential figures realize that they had enough and start moving away to new alternatives and bringing their followers with them.
And that day doesn’t seem to be too far away.
You see, some of the most influential people online are teaming up together looking for new platforms where they can safeguard their content and their followers and where they continue to monetize their content.
This is only the beginning, as many others will come to the same conclusion sooner or later.
“Dave Rubin and I (and others) have been discussing the establishment of a Patreon-like enterprise that will not be susceptible to arbitrary censorship, and we are making progress, but these things cannot be rushed without the possibility of excess error…
…We’ve been engaged in lengthy series of email exchanges with all of the people in our network, and no one is happy at all with what’s been happening.” ― Jordan Peterson
The Darkest Hour Before Dawn?
Bear market aside, there hasn’t really been a better time for blockchain platforms to attract new adopters as we have now. People are dying for new alternatives.
Facebook is losing users by the truckloads. YouTube creators are being demonetized for two years straight and they’re still looking for ways to leverage their vast audiences.
Paypal, Square and Stripe are getting restrictive towards creators as well. In fact, Paypal has disabled payments from Subscribestar for example.
And some of the most popular outlets out there are being deplatformed today and the rest are fearing to lose everything overnight.
It took them years and years of consistency and effort to accumulate that massive audience but then one day, and with one click of the mouse… Poof! Erased from existence.
As Nick Bernabe put it:
“2.1 million followers and 5 years of work gone.”
2 million followers gone overnight, I bet that guy would be time travelling right about now.
Probably wishing that he joined some blockchain platform to immortalize his content and move his followers there.
Influential creators need the blockchain, and the blockchain needs that popularity. This could be very well be the tipping point that boosts the sector to the mainstream, or it could be a missed opportunity we ponder about when we time-travel in regret.
All I have left to say is this: Please reach out to each other.