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Applying 5 big ideas of Stoicism to Crypto life

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Ideas of Stoicism

Applying 5 big ideas

Crypto space is anything but boring.

It is heart pounding at times and mind numbing at others, but it is never boring.

Obviously, these turbulent ups and downs are not for the faint of hearts.

Many have been burned during the 2017 rally while many have made it big.  For both these classes, life would never be the same.

Top 5 Cryptocurrencies 2020

For those who bet the farm and lost most of their life savings, life seems bleak and depressing.

For those who made it big and made a boatload of money, life may have become somewhat drag due to ‘unearned success syndrome’.

It is easy to say ‘I should have done this or that’ after the fact but these ‘should haves’ never occur while the events unfolded.

As they say, hindsight is always 20/20.  

Now that market looks to be setting itself up for another bull run, one that some experts say will last a lot longer and farther than the last one, we must prepare.

The preparation we are talking about is of mind rather than of wallets.

While coping with our own emotions in dealing with the volatility and crazy rides of crypto, we stumbled upon Stoicism.  

We must say, it’s quite liberating to notice how some concepts of Stoic philosophy apply to life in general and crypto life in particular.

We endeavor to share those in this article.  

Our intention is to at least put these ideas in front of you.

Whether you discard them or follow the rabbit hole is up to you.

5 Big ideas of Stoic philosophy

Stoicism has its roots in the Roman empire.  

Stoicism is more of a ‘how to live life manual’ rather than philosophical musings.

The Stoics were slaves, kings and every class of society in between. Irrespective of the station these individuals were at – they all exemplified the qualities of Stoicism.

Marcus Arelius is probably one of the most adored Stoic figures.  

He ruled Rome for 19 years and he lived by stoic philosophy. He wrote himself reminders throughout his life that he never intended for the public to see. However, those musings got out and have been passed on for centuries under the title “Meditations”.

There are many amazing ideas that we could use in times like these that we find ourselves in. However, for the purposes of this article, we are picking 5 big ideas.

1. Memento Mori: This too shall be taken away from you

Memento MoriMemento Mori teaches us to “meditate on our death” and reminds us that “we will die”.  

At the first glance it sounds morbid.

It is not.

It is actually a much needed reminder for many of us that this moment that we are taking for granted could be taken away from us at any moment.

As such, reminding ourselves of our mortality keeps us grounded in the now.

Memento Mori also helps us discern what is important and what is not.  

When we think about all the Alexanders and Gingis Khans of the world, we are humbled to remember that they all left the world with nothing.

If you have lost it all in crypto, good, remember the lessons but forget the incident. There is nothing you can do about the past but you can about today which will shape your tomorrow.

If you made it all and feel like God, reflect.  Does having money make you God and can you take any of your fortunes with you?  

It will also help us be more compassionate to one another knowing that we all meet the same destiny at the end.

The equanimity that the principle of Memento Mori brings us can serve us all well for our lives.

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2. Amor Fati: Love what is

Amor FatiMemento Mori should not be looked at in isolation.  

Memento Mori and Amor Fati are two sides of the same coin. 

One teaches the impermanence and the other reiterates the importance of ‘loving each moment as it IS.’

Amor Fati translates to ‘Love your fate’, however, it does not instill apathy or non-action.  Rather it encourages one to never complain about what is in front.

When you can love each moment as it is without complaining, you will have the opportunity to live life fully present.

We have read a lot of inspiring stories about people who adopted Amor Fati as a way of life and cured themselves of self pity, depression and general mood swings.

Obviously, we do not expect research to spend money on something that is literally free and one that could slash the spending on billion dollar escape route industries.

However, we do not have to let macro apathy stop us from adopting what is the ‘right’ way of living.  

3. Two things: Things in your control and things not in your control

ControlIf the government declares a ban on Crypto and that creates the market to dump, can you control it?

What if the US Government declares Bitcoin as part of the reserve for the US dollar and that pumps the bitcoin price, can you control it?

However, you can control things like researching a project, making sure you only bet what you are comfortable losing and trusting your gut instead of hype.

Stoics believe that everything we face in life can be categorized into two categories: one that we can control and the other that we cannot control.

There is no bigger fool than he who tries to control what’s not in control.  

There is no sadder person who relinquishes his control on things he has control on.

This clear distinction between what is in our control and what is outside of it makes life easy to tackle.

Suddenly, all the mental burden feels unnecessary.

If you can control something, then by all means control it to your will.

If you cannot control something, do not waste time in even thinking about it.

Give yourself into things that you can control and leave those alone that you cannot.

4. Understand your emotions

Another foundation of Stoicism is the concept that we respond to our own emotions not to external events.

Stoic philosophy urges people to “understand their own emotions as there is no need to suppress or assent to your emotions.”

This means that emotions should not drive our actions but our actions should drive emotions, as we will them.

Stoicism teaches us that the moment you become enslaved by body (emotions are basically felt in body) you lose control of your mind and that is literally the death of a wise man.

On the other hand, those who know how to command their minds command any emotion that pays them a visit.

The sturdiness of a man who has learned to keep his emotions under control is looked upon as god among the men.

5. Do less – do well, this is the only way to live well

Men waste life at the expense of life itself,” said Seneca.  

Those lines kept ringing in my ear long after I read them. 

Seneca was talking about how men waste every second of their lives that they have in the hope of ‘tomorrow’, the life they do not yet have.

When you try to catch everything in life, you end up just chasing, not catching or arriving. 

When we try to do everything – there is danger that we are only dabbing superficially.  

Life is too precious to squander around on things superficially.  

Whatever station we are at life, Stoicism encourages us to dive deeply into it.  

When we are deliberate about what we choose to do and do them with complete focus, living takes on a new meaning that can only be experienced.

Also, this discipline of diving deeply helps us to ‘live the moment’.

How we do one thing is how we do everything, as such, this discipline could become the cornerstone of all other facets of our lives.

The good news is that when you apply this discipline with honesty to one aspect of your life it automatically colors other parts of your life.

Top 5 Cryptocurrencies 2020

How these 5 big ideas of stoic philosophy apply to crypto?

  • Memento Mori: This too shall be taken away from you

Don’t get too attached to your crypto and your computer.

There is life outside of crypto, trading and money.

Go out and live a little.  Share a smile.  Spend an evening with your loved ones.

Play a game.

Remember, when life is gone, none of your profits will come with you.  There is a chance that your memories will go with you – so – make sure to make good ones.

  • Amor Fati: Love what is

Fall in love with the process.

You never know if your efforts will yield any result. Even if they do – how can you be sure that you are going to be around to enjoy them?

That is why it is important to fall in love with what is.  At any point in your journey – what you have is the journey itself.

Fall in love with the process and the journey it takes on you. This takes away the heartache attached to the results.

This means if you are currently busy digging out a good project and then investing in it, then that is the process you should love.  

Do not postpone your joy or love for the future event.

  1. Two things: Things in your control and things not in your control

If the government declares a ban on Crypto and that creates the market to dump, can you control it?

What if the project shuts down without notice?

What if you lose your computer along with your digital assets?

Stoics meditate on worst case scenarios so that they are prepared for the worst.  They do not welcome the bad situations but they make peace with whatever bad that could happen.

If and when such a bad event happens, they are not disturbed by it.

Also, this meditating on the worst case scenario helps you prepare, which in turn also contributes to peace of mind.

In the crypto this could mean, having secured redundancies.  Having 2FA in place.  Not leaving assets on an exchange, etc.,

Knowing what is in your control and what is not helps you keep your sanity.

  1. Understand your emotions

This stoic principle can be applied to the FOMO and FUD.  Those who do not know how to control their emotions will be burned by the FOMO and FUD.

This principle alone can make or break fortunes in the crypto space.

When one gets a grasp on their emotions they can decipher whether or not they are acting rationally.

At any moment you catch yourself acting out of emotions: Breath.  Distance. Distract yourself in a worthwhile endeavor (playing with your kid, taking a walk, listening to a lecture, exercise, whatever appeals to you). 

Come back to it after a while and see if your perspective has changed.

  1. Do less – do well, this is the only way to live well

When you have 6000 projects to look at, it is easy to get distracted.

It is easy to chase after every ‘next Bitcoin’, and it is very easy to squander away the life that we have.

Instead, build a criteria.  Make it your routine to test everything through the lens of your criteria.

Invest only after you have done your research. 

This principle also means, do not be invested in 1000 projects. Pick 10. Research fully. Invest and let time do the heavy lifting.

This takes away the stress and leaves you with more time to enjoy life.

How are we applying Stoicism to our own crypto life?

We have just started incorporating the following changes to our lives:

  • We are prioritizing spending time with our loved ones 
  • We are chasing fewer projects
  • We are more composed when FOMO/FUD visit us
  • We are building better routines so that even if it were our last day – we have lived it

We have a long runway to go.  

We are super glad that we stumbled on Stoicism and its application in life. The great thing about this philosophy is it doesn’t meddle with any beliefs.  

You can continue to believe in your own faith while incorporating Stoic principles.

For the crypto folks, there is real life wisdom in this philosophy and we hope that you found our effort to bring it to your attention useful.

Let it be known that we are neither experts in stoicism or crypto. As such, please leave room for our ignorance.

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

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IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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5 questions we want XRP army to answer!

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xrp investing news

What follows is our opinion.  

Let’s not be hostile.  

Top 5 Cryptocurrencies 2020

We are simply posing some questions based on the information we came across and our own limited interpretation. 

It is quite possible that the sources we are referring to are at fault or our interpretation is. Either way, just answer these questions for us so that we can learn new things about XRP that we did not know.

Our readers know that we have been anti-XRP for a long time. We got trolled, mocked and called ignorant. Well, to each their own.

Our questions to the entire XRP army are simple, here they are:

Question 1: If crypto was to replace (or at least reshape) the entire banking business then what does a token whose sole business model is based on ‘accommodating’ banks have any future?

To put differently, when the world starts conducting commerce via text messages why do we need banks and Ripple which wants to serve banks?

Our basis for this question: 

In the future when we will start doing business with each other over text messages, wallets and email signatures, why do we need a payment gateway from Ripple?

We know that WeChat payment enables users to transact over chat.  Other companies are trying to catch up with this (primarily why Facebook was looking at creating its own currency, Libra).

However, once we have a digital dollar, we do not even need an outside stablecoin since one could, in theory, use the digital dollar directly.                  

Question 2: Why do you have to pay businesses to use XRP if it is so superior?

Our basis for this question: 

Financial Times reported that Ripple paid Moneygram to use Ripple technology.

Here is a direct quote:

It turns out Ripple has been paying a significant amount of subsidies cash to MoneyGram’s business since buying into the company in June. In the third and fourth quarter alone the Ripple benefits amounted to $11.3m.

What’s more, until a consultation with the SEC**, MoneyGram had been more than happy to book these cash flows as revenues. Due to the SEC guidance, however, it has now had to restate fourth-quarter guidance to account for Ripple payments as “contra expenses”.

XRP Twitter

Question 3: What is Ripple’s revenue worth without the ‘selling’ XRP?

Our basis for this question: 

The question seems to be answered by the XRP’s CEO himself. Here is an excerpt:

Asked if XRP was keeping everything cash flow positive at Ripple Labs, Mr Garlinghouse answered: “Well XRP is one source. I don’t know how to answer that because if you took away our software revenues, that would make us less profitable. If you took away all our XRP, that makes us less profitable. So I don’t think about it as one thing.” 

He clarified later: “We would not be profitable or cash flow positive [without selling XRP], I think I’ve said that. We have now.”

In our opinion, we think that the only reason Ripple (XRP) is even operational is because of the billions upon billions of XRP tokens that they keep dumping on the unassuming investors.  

Is this a wrong assumption?

Question 4: If Ripple does not need XRP, why is XRP needed?

Our basis for this question: 

This is based on our understanding that Ripple’s technology can be used by the businesses without having to use XRP.  It is recommended but not ‘required’.

Is this accurate?

Ripple’s solutions can work without XRP (its native token).  So, if XRP is not a utility token in strict sense, how are its creators able to mint and sell them at will without tripping any security laws?

Question 5: If Ripple [XRP] is to act as the ‘stable’ value while the transactions take place on Ripple network, why should anyone trust XRP which is backed by nothing instead of stablecoins like USDC that are backed by real world assets?

Our basis for this question: 

We would personally trust USDC more or even Facebook’s Libra rather than XRP which is backed by nada.

This is what Demelza’s opinion was during our interview:

“The main point is that if XRP were able to back their currency with financial assets and stabilize the purchasing power of the currency, then that would mean XRP coins should have no price appreciation. In fact, only the equity shares of Ripple Labs would profit from XRP’s adoption as a global reserve currency. But Ripple Labs is a privately held company. After fully understanding what XRP is, one realizes that XRP’s investment pitch does not make sense at all.”

Conclusion

We are trying to convince ourselves as to why we need Ripple in the crypto space if:

  • Future of payments is going to be ‘self-bank’ & over the chat
  • There are better stablecoins in the market 
  • Ripple itself as a technology doesn’t need its own native token, XRP

For this very reason, our opinion is that the money will flow out of XRP and the creators will keep dumping their bags into the market until the market can no longer absorb it and then it will be ‘lights out’.

We await for the XRP army to provide us insights that we did not know and our opinion changes…

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

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IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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DeFi is Not the Holy Grail of Crypto, Here is Why

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Defi Yfi

DeFi has been making millionaires overnight and turning millionaires broke at the same speed.

Those who are on the bandwagon are rejoicing and those who either missed out or got burned by one of the fake projects are yelling ‘Scam’ at DeFi.

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Our views are a bit different on the subject.

We do think DeFi is going to be a successful vertical among the blockchain (and crypto) solutions.

It will not be THE holy grail for the redemption of crypto status though.

Supply Chain, Crypto Lending, Insurance, Financial Services, Accounting, Identity, and many more verticals will collectively take blockchain and crypto to the masses.

Shifting our focus back on DeFi, here are some of our thoughts on the current state of DeFi. We do appreciate you dropping any insights you have that we might have missed.

DeFi is not a ponzi, here is why

If the DeFi project you are eyeing meets the following conditions, it is not a ponzi:

  • Audited code: Is the code on which DeFi runs is audited by reputable blockchain auditors? 
  • Reliable team: Who is behind the project? Do they have the know-how? Do they have a history of running scams or leading successful projects? 
  • Actual (sustainable) revenue model: What is the revenue model?  Is it too ‘scammy’ sounding or is it based on sound mathematical (and algorithmic) models?
  • No lock-in periods: Is it easy to get in and out of the platform without any restrictions or lock-in periods?

If you answered yes to ALL of these questions then there is a 100% certainty that the DeFi you are dealing with is not a ponzi (or scam).

However, a caveat is due here.  

Just because the project is not a ponzi doesn’t guarantee its success. Lot of well intentioned companies fail, that’s just the nature of business.

So, do not be one of those guys who sells their home to invest in crypto or DeFi (and that itself is not advice, just an opinion).

If you don’t want to hear it from us, listen to what Yearn Finance creator has to say about DeFi tokens (not all, obviously) having ZERO value.

Source: Crypto Culture

DeFi on Ethereum is not sustainable, here is why

Ethereum DefiMost, if not all, DeFi projects that are making the news today are on Ethereum. 

Ethereum is not a reliable blockchain when it is overloaded.  It gets choked and crashes.  

People are already complaining about exorbitant fees on the network due to the DeFi craze.  

DeFi itself as a crypto vertical is quite new and we are sure there are going to be a lot of ‘killer apps’ that will show up on the scene.

We are currently looking at the DeFi solutions that are being built on other blockchain networks (subscribe for free to know when we post that article).

PolkaDOT is not the end all be all, here is why

Polkadot Defi EcosystemMany are turning to the DOT as the next big thing after Ethereum.

It may very well be.

However, it has not had the chance to prove itself, not yet.

Ethereum’s resilience (or lack thereof) was revealed only during the ICO craze (and then later during CryptoKitties debacle).

What monsters lie in the DOT’s belly?  We don’t know and we would be weary of anyone who claims to know with certainty.

Other things to consider

Entire DeFi space is pretty new and we do not know what we do not know about potential vulnerabilities.

While this is true of Bitcoin itself, Bitcoin has withstood assault for over a decade and still stands stronger.  

Same cannot be said about DeFi.  

Can you imagine someone investing their life-savings into DeFi only to have funds taken because of a bug in the code?

Needless to say, many folks are exploiting the looping system in the DeFi where they take loan against their deposit then lend it back to the platform to take another loan against their deposit, and ad infinitum.

This is causing the DeFi systems to show more liquidity than what truly is.

Conclusion

We think DeFi is an exciting development, however, we still put it alongside ICO craziness for now.

When this space matures and we see reliable solutions emerge – DeFi has the potential to drive a trillion dollar vertical on its own.  

That is just the potential, all the trials and tribulations that we have to go through to get there is going to be one hell of a ride.  

So buckle up and enjoy (and please do not lose your shirts on the ride)!

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

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IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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CryptoSpace

These forgotten gems could resurge during this bull run

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Forgotten Crypto Gems

Forgotten Crypto Gems

Disclaimer:  We own few of these tokens and there is no guarantee that these coins will actually resurge. Everything you are about to read is an opinion.  Our intention is to put some projects that have taken the backseat in recent times.

If you are curious as to why we give away so much for free – please check this Crypto Freebies page.

Top 5 Cryptocurrencies 2020

Crypto market is quite weird.  

It deceives the onlooker as if it’s learning from its past mistakes but it’s really not.

For instance, during the 2017 ICO craze, anyone could pitch any half-assed idea and raise millions from unassuming investors.

This bull run in 2020 is all about DeFi and Data Oracles.

Just slap ‘DeFi’ to any project without an actual product or even a single line of code written and you will make a boatload of money.

Because the ‘pump and dump’ practices are not closely monitored in the crypto space, many YouTubers are dumping their bags on their viewers.

It is so blatant that the YouTuber will start out saying “I loaded my bags with this” and then go on about all the mooning stuff and throw in a small disclaimer somewhere and voila. 

They make hundreds of thousands or even millions each day. And we are not exaggerating about that.

You contrast that with what you find here.  

We are giving away all the information we are digging up for free (including our Top 5 tokens for the next decade that we hope will 100x).  If you are curious as to why we give away so much for free – please check this Crypto Freebies page.

We recently started the microcap gems series where we are looking to dig up projects with a decent team, an actual product and lower market cap (usually under $5 Million, sometimes even less).

Because of the $$ limit on the microcap gems, there are some projects that we couldn’t cover in that series.

However, we wanted to float these projects in front of the discernible audience (and newbies who may not have looked into these).

This article’s sole aim is to ‘point’ you to these projects. It will not be a deep dive and as always we encourage you DYOR before investing.

Dragon Chain

Dragon Chain price prediction“Dragonchain is an enterprise and start up ready platform to build flexible and scalable blockchain applications.”

Like most projects we pick, Dragon Chain has solutions ready for business today.  This is not a pipedream or a 15 year roadmap.  That is why we think this is a forgotten gem.

This project is still going strong in the background in terms of development and traction.  They released a video in August about how their anti-fraud and transparency proof systems are used by an exchange.

Website: https://dragonchain.com/

Ticker: DRGN

ATH: $5.27

ATL: .02

Current Price: $0.079

Cindicator

Cindicator CND price prediction

“Cindicator builds predictive analytics by merging collective intelligence and machine learning models. Cindicator’s analytical products are available exclusively to holders of CND tokens.”

Market pays top dollar for prediction data.  Cindicator is one of the first projects to build an AI based market intelligence platform on blockchain.

Cindicator boasts over 135,000 analysts from over 135 countries.

In our opinion, Cindicator is a viable project, although it has not gained traction.

Website: https://cindicator.com/

Ticker: CND

ATH: $0.347

ATL: $0.002

Current price: $0.011

FunFair

Funfair Price Prediction

“FunFair is a revolutionary blockchain technology platform that provides low cost, high quality, transparent casino experiences that are Guaranteed Fair.”

The space that FunFair is targeting is a massive one and is expected to grown even more in the coming years.

Ticker: FUN

ATH: $0.33

ATL: $0.0010

Current price: $0.0052

This page will be updated with future ‘forgotten gems’, so please consider subscribing

Acronyms used: 

ATH: All Time High

ATL: All Time Low

DYOR: Do Your Own Research

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

best Crypto Tax Software

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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