Crypto has never existed through a global recession before. All bets are off, and we might be about to see the first *true* crypto crash - and it might knock the wind out of even the hardest hodlers.

I’m seeing far too much chatter from people who are a.) sure we are entering a 2 year bear market and others who are b.) sure this is just a dip in an extended cycle.

I have a question for all of you people: when was the last time you were hungry, and I mean really hungry? When was the last time you were already late for rent and wondering what around your house you could sell to make up the difference?

Make no mistake: I am a crypto maximalist. One of the OGs. But I also strive to be a realist. And let me assure you: people who can’t afford basic necessities don’t have time for made up internet coins.

After being involved with crypto for many years I went through a rough patch in 2019 - 2020 where I was on food stamps and begging for rent money on social media. I was selling my shit on eBay and relying on charity to make it from one month to the next. I gotta say, I gave zero shits about what was going on in crypto land. My vision was focused on just making it day to day.

And I think a lot of people are going to end up in that same mindset if a real recession hits us. People aren’t gonna have extra money to buy any crypto, not monkey nfts, not dog coins, not Algorand, not Ether, not even fucking Bitcoin itself.

And I think you should mentally prepare for that.

It should be a possibility on your mental list that crypto might be about to experience it’s first true crash, and it will seem like an extinction level event.

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edit: the fact that this is getting almost unanimously derided as bullshit (originally was downvoted to zero) suggests to me that I’m probably right. Y’all ride that hopium into the ground. To make money in this game you need to do the opposite of what everyone believes. It’s okay, I remember what my first bull market felt like too.

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edit 2: I don’t have the energy to reply to the hundreds of comments screeching “how are you an OG if you were on food stamps!” as if people can’t make mistakes, and if they do, as if they suddenly don’t have wisdom to share. The mistakes are what creates the wisdom. My alt account is /u/americanpegasus. I have been in crypto since 2012, and during the past ten years have both made and lost extraordinary sums of money. I wish you the same so that perhaps you can come out of it a little wiser for the journey.