Top 5 Ways To Hustle In A Bear Market
@Wonderhands
We’re post ETH merge now–by and large the major event everyone had held their breaths for–and “Solana Summer,” which did not happen at the magnitude anticipated, has come to an end. If you’re still here with us as we approach the last few months of the year, we’re glad to have you along for this ride.
To our holders who are not active in the NFT space for the time being: we hope you’re out there, doing well, and we’re looking forward to the day you come back; we have a thing or two in store for you to look through and engage with when you’re back.
Often people think lulls in a workplace are times when there’s nothing to do, or downtime in the schedule is time to burn. Some people may view the current state of the crypto & NFT markets similarly, and they’d be correct: there is not much happening.
However, that does not mean there is nothing to do. There is never actually nothing to do. There is only the perception of it, a need for more creativity or direction, and realizing that “time to burn” is actually precious undistracted time we can all productively use to best prepare ourselves for our ambitions.
Here are the Top Five (5) Ways we can hustle during downtime (+during the bear market!):
- Learn all there is to know: (Catch up in web3)
Think of all of the things you still do not know, and go learn them. Even if you can only think of one thing, odds are: that one thing will expose you to other things you need to go learn, and it just keeps going from there. If you want to be successful in the next bull run or even now in web3, you need to acquire the knowledge and learn everything that you need to know before you actually may need it. Once the bull returns, if you need to start learning then, you will be behind. Downtime is the best time to get up. - Pick up a Skill (Useful for web3)
One of the best ways to get ahead or leapfrog yourself onto the next level is to pick up, learn, practice, and master a useful skill. What can distinguish two near-equally qualified candidates are differences in skill(s). Whether you’d like to be on the working side, the consumer side, or the investment side of web3, there are beneficial skills associated with each of those helpful to learn. Exchange your labor to gain experience in an unpaid position, learn the ins and outs of NFTs to get a better sense of what’s out there as a buyer, or master a trading tool and equip yourself with a skill that can set you up financially. - Double down on real work
NFTs are a lot more fun when you have the financial capability to actively participate and capitalize on worthwhile opportunities. No matter how much you know, you can best put it to use only when you have the funding to. During these slow times, a prudent approach would be to double down on real work and prepare yourself for exceptional opportunities as top 50 cryptocurrencies & NFTs find themselves at criminally-low price points or to prepare yourself for top opportunities during the next era of excitement. - Get your life in order
During busy times, it can be easy to neglect other important things in our lives, such as our health & fitness, relationships we have with people outside of our workplace or hobby communities, and overall connecting socially with reality and responsibilities we may have put off. Downtime is the best time to clean up all of this, real good, and real fast, so that when our interests or work regain their hype, we’re all set to focus. Deep-dive into the other aspects of our lives and get them extra healthy, then ready & cement in a routine to maintain them as we reintroduce busywork, NFTs, or other hustle. - Connect (Network)
The people you work with are people you may exclusively speak to only with regard to work during busy times, just as those in web3 are people you may exclusively speak to regarding web3 things. Downtime is a great time to actually get to know the people in your communities, including finally engaging in the events, chats, and voice channels of the communities of the NFTs you hold. While there is less to trade, mint, and research, there are plenty of people still around, and this is as good a time as any to actually get to know one another. Relationships are good to form intrinsically, but sure–relationships will be important to have when things return to speed! - Bonus: Onboard a Friend
For all of the reasons above and more, we all know how awesome web3 is and how much there is to learn to really come to the passion we all now have for the NFT space. What better use of downtime than to share this passion with someone in our life?! Onboarding a friend into web3 gives us a partner in the space to navigate the next bull with, gifts a person in our life with everything we’ve learned about this industry, and contributes to the overall growth of the space and advancement of technology!
Happenings in the Community:
- The introduction of Hector Horowitz, our operations master that will be dishing out missions to our Ghosts
- Mental Health Mondays with Wonderhands and Rodney, a safe space for our community to express their thoughts and feelings
- Twitch stream with Baerinz and Jane to engage the community with fun activities
- Community Think Tank to discuss ways to invigorate our community
DaddyGainz's Market Matters
Hey there, to our loyal readers, welcome to another installment of Market Matters, and to those who just joined us over here in the Resistance, I’m Daddy Gainz, the Lead Market Analyst for PxN. Today I’ll be walking you through all things crypto and macroeconomics!
Up and down we go, as volatile as the crypto markets have been. So why is everything this volatile you might ask? Let’s dive into some of the underlying factors of the economy and it’s impact on the crypto and equities markets.
Last week it was made clear that the FED won’t pivot from their aggressive policy to combat inflation. Since last week’s FOMC reading & Powel’s speech on the 21st, the markets swiftly dropped and bounced around slowly recovering from the point at which they dropped, ultimately leading to what looks like more downside to come.
As previously discussed in other articles, as the macroeconomic environment continues to point bearish, we will see market rallies within the overall downtrend, also referred to as bull traps.
Not much has changed in the market sentiment since we began discussing Market Matters months ago, things are still looking bearish as an overall trend. With inflation and overall economic activity not decreasing as much as policymakers would like, they are forced to continue their aggressive policy in search of preserving the financial system.
We saw the British Pound plunge this week, along with many other global currencies taking hits, as demand for the Dollar increases and further proves its status as the strongest global currency. The DXY, which is an Index for the US Dollar that measures its relative strength against a handful of other currencies, is approaching levels it hasn’t seen since July 2001.
The markets and other currencies get hit considerably hard as the Dollar increases because the more liquidity there is in the Dollar, the less there is in other investments. This suggests that liquidity from the global markets, including other currencies and investments, is flowing into the Dollar as it becomes more attractive as a safe haven investment. Typically, when the DXY increases the equities, crypto markets tend to fall as the flow of money shifts.
We pay attention to what's happening in all markets, reference certain indexes, and monitor frequently occurring economic data because it has an impact on our investment portfolios across the board. One set of data we received this week was The Conference Board’s Consumer Confidence Index (CCI) which is a survey of consumer confidence in future spending and economic activity such as labor market availability. The CCI came in higher than analysts predicted, which signals that consumers’ intentions of spending money are still strong, likely due to the decrease in prices at the gas tank and the robustness of the labor markets.
Although the FED pursues their aggressive stance in combating inflation, the labor markets and the amount of consumer spending continue their resilience. There are high job vacancies and low unemployment rates coupled with strong annual wage growth resulting in this strengthened confidence in consumer spending.
In order to slow the job market and consumer spending habits, the FED will continue to implement the restrictive policy until they deem their efforts are getting the job done. (no pun intended).
With high inflation rates, consumers are spending more to continue the lifestyle they’re accustomed to, but in times like these, we need to see a tightening of consumers’ spending budgets to cool down the overheated economy. This means the FED would like to see higher unemployment rates which may, unfortunately, put some people in uncomfortably tight situations in the coming months. With more people out of work and higher interest rates, this will slow the growth of the economy because fewer people are borrowing money for things like vehicles and houses and they will be living on a tighter overall budget.
As the winter months approach for many countries with already tight global oil supplies, we could see extreme hardships for many who won't be able to foot the bill to keep their homes warm. These are quite scary and uncertain times we are living in, but while the going may get tough for some, there’s always light at the end of the tunnel.
Just as periods of economic growth are followed by periods of contraction, the same is true that after periods of contraction and decline the markets are known for reversing the cycle and entering periods of expansion and growth. So as bad as things may seem right now and in the near future, we can set our sights on what comes after times like these and try to prepare ourselves for the next phase of growth. The same is true for the crypto industry as a whole, while things are on a downtrend, for now, we look to the future for mass adoption and overall growth and expansion which many feel is inevitable.
Daddy Gainz’s Two Cents
We find ourselves in unprecedented times, experiencing things some of us have never seen in our lifetime. The important thing to understand is that fortunately there are experienced policymakers who are dedicated to keeping the economy on track, no matter how bad things seem to get, they will do what they deem best to set things straight. Learning proper ways to approach the markets in order to withstand and overcome these adverse conditions is vital to longevity as a trader or investor. Hop into the PxN Alpha chat to discuss how others are approaching the markets during these times! As usual, NFA, DYOR, stay safe, love y’all, and see you next time!
Mission: Improbable
With cold steely eyes and a calm demeanor, 5976 picked up the files from my table as he scanned through each one of them with intense focus. After five minutes, he put down the files except for three.
“These three. They’ll be going on this mission with me”, he said, as he shoved them in my face.
“Contact them and have them ready with their equipment no later than 8 hours from now.”, 5976 instructed, as he put the case files back onto my table and made his way to the door.
Do all cold-blooded killers behave like this? Or has the war totally altered his human touch?
I glimpsed through the files of those chosen. Interesting skill sets they possess. Considering that he’s picking two Onis into the squad, 5976 has definitely played out the different scenarios in his head prior to selection. And the choice of equipment… definitely interesting.
Equipment List:
GM Gum:
An advanced resin/paraffin blend (with a dash of grape amphetamine for flavor), GM Gum contains (3) varieties in a single pack - explosive charges, enhanced stamina & strength stimulant, and a stiffening agent to patch leaks or make handcuffs.
LFG Lenses:
Constructed of highly durable corrosion-resistant class 2B 59588 silicone rubber with a matte black finish, the variable silicon dioxide diopters can be toggled to provide 1 of 4 modes: x-ray vision, infrared scanning, thermal detection, or visual echolocation which accurately provides the GPS coordinates for any living target.
F.U.D. Boots:
Constructed with a tungsten core for durability and heat resistance, Field Ultrasonic Deployment (F.U.D.) boots possess electromagnetic & spatulae attraction to walk on virtually any surface, hydrogen-based propulsion for quick sprints or high altitude jumps, and a rechargeable Electromagnetic Pulse (EMP) for knocking out tech in a 15-meter radius.
Now, I do remember having these items in the storage but where did I place them? Time to dig deep.
World Wild Web3
QQL Grossed 16 Million Dollars In A Bear Market
Bear market or not, QQL Mint Pass, a new 999 NFT art project co-created by Fidenza’s Tyler Hobbs, raked in 16.7 million on release day. Like Fidenza, QQL is an algorithmic generative art.
The project also blocked the wallet for X2Y2, an NFT marketplace that allows for zero secondary market royalties. It seems like the NFT art world is hitting back on platforms that negate artists’ royalties.
Red Notice For Web3’s Bad Boy
According to South Korea, the haughty co-founder of Terraform Labs, Do Kwan, has reportedly been issued a Red Notice by Interpol to locate and arrest him for non-cooperation regarding Terra-LUNA’s crash investigation.
The catastrophic event in May occurred when the algorithmic stablecoin de-pegged from the dollar due to its complex algorithm and bad market conditions. The collapse caused investors to suffer immeasurable losses, some even losing their homes and life savings.
NFTs And Gaming, Can They Be Bedfellows?
The verdict is yet to be out on the role of NFTs in games. There are polarizing views on the quintessential need for blockchain technology in gaming. Some players are up in arms on the legitimacy, security, environmental harm, and possible cash grab nature of such games.
Although major game studios such as Square Enix and Ubisoft have been getting backlash for their foray into the web3 space, what’s undeniable is that gaming will evolve with the progress of blockchain, be it through NFTs or other applications of the technology.
Google Cloud Hot On The Heels Of Web3
When we think of web3, Google, the web2 internet giant, is far from our minds. They are looking to make inroads into web3 through the Google Cloud service, dubbing it Layer Zero, a backbone for web3.
In a recent interview with Decrypt at the Mainnet conference, it was shared that Google is building a bridge to web3 by offering node services via Google Cloud, allowing Layer 1 chains to run off Google’s data centers. Complete decentralization or not, major businesses are hopping on the web3 bandwagon.
Pinapple Lounge
Welcome to the Pineapple Lounge! This time we have Phantom 09 with us!
Phantom Files: 09
The Resistance received details that Phantom 09 would attend an underground event. Pineapple and Plortis were dispatched to the scene for the interview.
If you weren't in Web3, what would you be up to right now?
Probably trying to start a business. I've always enjoyed commerce and have tried e-commerce stores during my university years. I also tried selling some things offline last year too. But these are all quite small scale, a one man store that handles the front, and back end, so I would assume if I wasn't in web3, I would've tried to start another business, but this time, a much more ambitious one.
What's the story behind the name WhySo?
I first saw the name WhySo back when I was 11 or 12 years old playing on wc3 battle.net. It was a name used by a group of strangers back then as their clan name. About 6 years later, I started using WhySo as my online ID and have used it for the past 10 years. Honestly, I don't know why I like the name WhySo so much, but it just feels like the perfect username for me.
Black/White/Gray, the boring trio. Haha! But secretly I like Violet a lot as well.
What’s one thing people don’t know about you?
S.a.d.n.e.s.s. has doxxed photos of all the Phantoms except for me. Maybe I should drop one in our Discord and see if he's still as quick as before.
A dessert you like?
Mango Pomelo Sago.
A skill you’re working on mastering?
Digital painting. I've always enjoyed good art and thought this bear market would be the perfect time to try something new with all the spare time I now have.
A book that everyone should read?
A Hitchhiker's Guide To The Galaxy.
Most adventurous thing you’ve done in your life?
Stopping a theft in Shanghai. Didn't seem to be much at the time, but was told afterward that I was lucky to not get into a lot of shit because these thieves operate in large groups and retaliate against anyone who got in their way.
Secret talent?
Used to compete in international table tennis tournaments.
What are the three things you can’t live without?
My fiancée, family, and friends.