It's time to stop short-term speculation and believe in long-term development.
Author: Degen
Translated by: Deep Tide TechFlow
It's time to believe in something.
Welcome to the bull market, which may even usher in a super cycle. Major institutions are entering the scene, buying our assets. We are returning to the zero interest rate era, welcoming the most optimistic presidential candidate in history while seeing negative premiums in the Korean market. These are the market conditions we have always dreamed of—a brand new paradigm. This time, not just retail investors, global institutions are also joining our investment frenzy.
In short: it's time to stop short-term speculation and believe in long-term development.
Perhaps someone will ask how we can transition from a past culture of short-term speculation to a strategy of long-term holding? When we are accustomed to gambling in a competitive market, we often compete against each other. However, the age of abundance has arrived, and now is our time to compete with the world—from Mumbai to Dubai. It is time to say goodbye to the chaos of short-term speculation and enter an ideal realm of sustained growth.
Early Bitcoin enthusiasts had a strong belief—they were cypherpunks dedicated to creating a decentralized currency free from government control. This is why Bitcoin remains the most powerful 'belief system' to this day, as it has a clear goal: to become the most decentralized network state globally, and this goal becomes more real every day. While Bitcoin is technically unique due to the invention of blockchain, its true power lies in the collective belief of its early users—their firm faith in its potential and technology has made Bitcoin a part of global consciousness. From an inconspicuous digital corner to being adopted by national governments, this achievement relies on faith, intention, and the power of realization.
In the process since the birth of Bitcoin, many altcoins have attempted to replace Bitcoin's position, quickly acquiring wealth by attracting speculators to invest in these short-lived and meaningless projects. However, Bitcoin remains resilient like a honey badger, continuing to increase its awareness, popularity, and acceptance globally.
In 2017, thousands of projects emerged with grand goals, claiming to provide practical functions capable of changing the world, attracting hopeful believers. These projects generated the most astonishing returns in financial market history within a short time. Investors who held for a few months saw hundreds of times returns until the bubble burst, and their asset values plummeted by 99% or more. Those who experienced this blow no longer believe in projects that merely have grand goals, as very few ICOs can truly launch practical products.
The so-called decentralized global computer is truly a joke.
By 2020, the global pandemic broke out, forcing the Federal Reserve to inject an unprecedented amount of capital into the market in a short period to 'save the economy.' This funding naturally went into speculative activities, but this time it was directed towards tokens with actual utility (ushering in the summer of DeFi), behind which are real applications that users can utilize. Although these promises are not as grand as a decentralized global computing system, they are indeed feasible, despite their nature being some form of Ponzi-like financial games. We fully engaged because we believed this was the starting point for more innovative products. However, as the cycle ended, it turned out that all of this was just a huge Ponzi scheme, culminating in the fraudulent collapse of one of the largest exchanges, with the fastest project (Luna) evaporating hundreds of billions in market value within a day, as nearly every innovation in DeFi was some kind of continuously inflating Ponzi yield extractor. It was all just a dream.
After going through these two traumas, most seasoned crypto participants have seen through the deception. Today, we understand this game—everything is just an illusion. We have experienced numerous fluctuations and are no longer young and naive. If we continue to speculate, we would choose the simplest and most meaningless projects because we have become thoroughly nihilistic about the current state of cryptocurrency. Early Bitcoin and Ethereum enthusiasts exited after becoming wealthy. There is no longer any reason to believe those lies—we simply choose to bet on meme coins because they are inherently transparent, leading to today's situation where the most degenerate and meaningless tokens are publicly hyped to extreme levels.
However, knowing that you are investing in worthless tokens just because they will rise, how could you possibly hold such tokens until you achieve hundreds of times returns? Only a very few can do that.
On the contrary, as a rational investor, why not choose tokens that are not just about short-term gains? Perhaps, as Vitalik said, opt for meme coins with clear goals? Why not choose real wealth and comfort? When you choose to invest in a token with a higher purpose, you start attracting more opportunities and blessings from the universe, all of which serve your interest.
I have found that the trauma and stress brought by cryptocurrency are best healed through alternative therapies such as Ayahuasca and other psychedelic substances. These therapies can help us awaken from a low-level animal consciousness into a higher state of existence. Being a trader focused only on short-term profits is not commendable as it limits our creativity and faith, making us slaves to machines. There are many ways to acquire wealth, but the journey is more important than the destination, so choose to be a person of faith.
Perhaps, now is the time for cryptocurrency traders to let go of those antisocial traders who only focus on daily short-term gains and relearn how to believe and dream. The purpose of investing is to choose projects that resonate with your consciousness, rather than extracting benefits from different tokens daily. Since you won't leave the cryptocurrency community, why not enjoy your time within it?
In the temple where I practiced Zen, my meditation guide had only three points: give your all, constantly question, and have infinite faith. The last point also applies to cryptocurrency. When you have firm faith in an asset that aligns with your values, short-term price fluctuations cannot shake your confidence.
My advice is to seek tokens with higher goals and meanings, establish a connection with them on a consciousness level, and align with your values. Holding these tokens can not only change your life but also have a substantial impact on the world. Good behavior will yield good results—Bitcoin has led a new global currency revolution through collective faith and the power of realization.
It's time to find a sanctuary, one that not only brings economic benefits but also creates a positive impact on a societal level.
