Too Much Going On

I just realized this week that I let myself remain too actively involved in crypto during the bear market.

I think I fell prey to the desire to feel like one is making progress all the time, even when any real progress is only gestating out of one's active reach.

One can get so enamored of the crypto industry that there is always a desire to learn more then use that information to do more. But sometimes you really need to just be still on a given topic, focusing elsewhere for months or even years, in order to optimize your results.

A Little of a Lot

I'm not a Bitcoin maximalist, but even if I was I would still be spread a bit thin in terms of the amount of effort it would take for me to fully liquidate into fiat if I ever chose to. I have small amounts of this or that on many different fronts.

For example, I have sundry coins staked in various wallets or with various staking pools. The wallets aren't so bad, but unstaking with the pools isn't immediate for all of them. Plus there are just a lot of them to keep track of. And once unstaked, the coins require various different exchanges to get them to one that can liquidate into fiat.

I also have some bizarre investments like Bidao, which I should have never bought, since I never fully understood it. I thought it was from Binance exchange, their version of Maker DAO. Nope.

Then there are my various NFTs and other assets like Unstoppable Domains.

Plus the platforms I use to earn interest on some coins, some of which let you withdraw to an exchange within just hours, but some which take days. Then there's all my stuff on Steem Engine, most of that also staked.

I've lost track of coins I have on other platforms similar to Steemit outside this ecosystem. Too much to think about. Too much to bother about.

The Illusion of Progress

I share this with you to prompt your self-reflection.

How long would it take you to fully liquidate into fiat if you had an opportunity/emergency that required you to?

During the next bull run, how will you take profits? Or will you ride everything up just to ride it back down again?

What is your strategy for taking profits from each location you currently hold coins, including wallets, exchanges, staking pools, etc.?

If you need to write down more than 5 things to answer any of those questions, think about beginning the unwinding process now. Don't be afraid to leave some possible gains on the table. The ones you will get simply from being invested when the bull starts his rampage will be plenty.

And next bear market, take up a hobby. Preferably an offline one.