What IF This Whole Crypto Thing Doesn't Work Out?

Welcome back for another round of my hypothetical "What IF" type of articles.  In the past I have made posts talking about the positives and negatives that could happen if Hyperbitcoinization were to take place.  And today I will be continuing this series and talking about What IF this whole crypto thing doesn't work out!  In the long-term, I am as bullish as a person can be about crypto, especially Bitcoin.  Believing that Bitcoin will continue to soar in price and adoption.  Several more counties will continue to adopt it as legal tender in their countries and it could compete to become the world's reserve currency sooner than many of us think. Even though there has been recent FUD thrown towards Ethereum, I also remain very excited about this chain as well.  Believing that it could take over nearly everything that we know, and push out the need for banks. In the areas that Bitcoin and Ethereum can't or don't fill, other blockchains will emerge and find great use cases.  In short, the world is moving to a crypto world and there is no turning back.

But what if it didn't? That is the big question for today. I will be tackling this question no in regards to how the macro situation and world would evolve, but more on a personal basis, on how it might effect the avid crypto users like you and me who have been investing heavily into this market.  And let's face it, if the crypto market prices would instantly go to zero tomorrow that would devastate a large number of us.  Yes, we are always preached the advice of never investing more than you can lose.  To diversify your investments so if one category such as crypto would go bust, then you would still have the others to prop up your portfolio allowing you to survive the day.  But, how many of us actually follow that advice? While in many of my articles I will also give that responsible advice to never put more into crypto then you can afford to lose.  To never go all in on this asset, as it is one of the most volatile and risky markets out there.  With that said, many of us are trying to find any way possible to try and find a way to get finally get ahead in this world.  To finally give us a cushion, and to finally not be living paycheck-to-paycheck.  An option that would give us hope, giving us an actual chance of being able to retire, and also an actual chance to become rich.  We are all looking for that special ticket that could change not only our lives forever, but also our families for several generations.   Many of us feel that Bitcoin, Ethereum and crypto is that special ticket for us.  

And we feel that we are still early in this market.  Which means that we need to go All-In, while we are still able to.  I have been just as guilty in doing this as I'm sure many of you are as well.  I view this market as a once-in-a-lifetime opportunity and have been going all in.  Which all results in me being extremely irresponsibly long for this crypto market.  While it has significantly changed my life for the better during the several years I've been investing in this market.  In reality there are two possible end-results for me.  I will either soar to incredible heights that I could have never anticipated, or I will crash and burn.  If the market would perform how it has during its short history, there is a real chance that retiring or quitting my day job would be a real possibility during the next bull market.  But, if the market were to go to zero.  That would change everything.

I'm sure that many of you are the same as me.  This market can be exhilarating, euphoric, and give you adrenaline unlike anything out there.  But it can also cause stress, anxiety and pain unlike anything out there. So let's say that the market does go to zero. What would that mean for many of us? The obvious first answer is that it would cause extreme financial pain for many of us that we have never encountered before.  There is a good chance that it would take us several, several years to pick up the pieces and begin to recover financially from that chaotic downturn.  But after that, what would happen next?

I'm of the strange opinion that many of us would actually recover extremely well.  Now don't misunderstand, it would take years to do so, and that initial time period would be extremely painful. But, at least in my personal situation, I have completely changed over the years since I've gotten into crypto. I have learned how to invest, handle money and budget, learned and became fascinated with macro and financial news, become an entrepreneur, and learned how to earn money from side hustles and passive income.  While these things can be learned outside of the crypto market, I would argue that many of us have learned this due to our involvement with crypto.  These are the tools that you need to learn to be successful. Once you have, you can find success doing nearly anything.

For me personally, if crypto wouldn't be successful in the future, the financial loss probably wouldn't be the most painful thing for me.  As of now, Bitcoin, Ethereum, crypto and macro have become some of my largest passions and the loss of them would cause me to lose one of my greatest passions.  And so I would need to pivot.  I imagine that I would stay interested in macro, invest more heavily into stocks, real estate and other endeavors. But, I imagine it just wouldn't be the same.  I would need to be flexible and adjust.  Thankfully, that is one of the key traits that we all need to learn from being invested into crypto.  What is great today and tomorrow, may be a complete disaster the next day and we need to be extremely nimble and flexible in order to survive.  For example, the recent market chaos from centralized lending services in the market.  If you kept up to date and saw the FUD surrounding them and acted, then you would have been able to withdraw your funds from those services.  But if you didn't keep up to date and weren't flexible, then there is a high chance that your funds may still be stuck on those services. 

In life things happen.  Crypto truly does have the chance to change our lives.  We just don't know if it will be for better or for worse.  As mentioned above, I'm of the opinion that it will be for the better and with current prices, now is an incredible opportunity to be buying.  But if things turn for the worse, we just need to learn from this experience. What are the skills that we learned from investing in this market? What can we learn from the mistakes that we also made in this market? Pick up the pieces, and build stronger.

How about you? How would crypto not working out effect you?

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As always, thank you for reading!