First, let's start with some Fundamentals.
It's almost irrelevant unless you need the Fiat or you're holding a very questionable bag. Sure, speculate away, but please have a plan. Okay? Moving on....
WARNING: swears ahead.
We speak of FOMO and FUD as if they are somehow different, perhaps two sides of the same coin. Certainly, we humble creatures Feel them at different times in a market cycle, but break the shackles of these acronyms and what do we discover but that old Favorite, the "little death" itself:
Fear Of Missing Out. Fear, Uncertainty, Doubt.
But you might say that these are still different Fears then, if they are in response to different market climates, but I would argue that it is simpler than that, and it involves another F Word, namely
Here those other acronym words finally do some work, as they place our Fear into a time frame.
When will we Miss Out? Only with the passing of time.
And what are our other Fears? Uncertainty and Doubt.
But do we Feel uncertain about the past except that we might have done things differently? Are we in Doubt about the present? No, these words apply to our Fears about the Future.
Fear should motivate you to action, but act in the appropriate time frame. How do you prepare for the Future, so you do not Miss Out? Be Proactive. Do your Research. Plan Ahead. Make More Acronyms.
And it should be obvious that the Future is Uncertain, so we should not Fear this Uncertainty. Even a cursory amount of Research will show that crypto is BOOMING, so better to worry about the weather tomorrow instead.
Likewise, it is natural to have Doubts when offered a choice. This is a natural recognition of Uncertainty, but these days there are many tools and techniques (and Frends) available to help mitigate this Doubt. The recognition of Doubt should be motivating, not paralyzing.
Of course, FOMO and FUD are still relevant. There are many market participants that act based entirely on Fear of both varieties. Even the Elons are likely more aFraid of losing relevance than anything else, but they're also making money on the Fear of others.
And this speaks to the mainstream attitude about crypto, going back to our Fundamentals.
Fiat valuation matters in the most insidious way, as it drives a majority of these Fearful behaviors. It incentivizes manipulation, both of price and of other human beings, and where there are manipulators, soon there are regulators, likely to bring with them yet another wave of Fear, but a Fear not just rooted in the Future, but rather a
So I believe it is our Fundamental duty, we who are not aFraid, to Be Proactive, Do Our Research, Plan Ahead, and in particular
I've got a handy acronym for that last one, but I'll leave it to you, my beautiful audience, to figure it out. Thanks for your time, I'll see ya soon.
