Some advice from encryption veterans to newcomers in the bear market

Original author: Kirby Ong

Original compilation: 0x9F, Rhythm BlockBeats

This article is based on the opinions of Kirby Ong, a partner of PetRock Capital, on his personal social media platform.

The following is my reflection on encryption, what lessons I have learned, and what advice I would like to give myself and others.

In 2017, I bought ETH and BTC at high levels. I held it until the middle of 2018. Due to the sharp drop, I surrendered and sold both BTC and ETH into U.S. dollars. In the long run, we must firmly hold BTC and ETH.

Continue to take profit

I was paid $50,000 up front 6 months before starting a job. Since I firmly believe that these tokens will rise to 100 times, I did not sell them when they rose 20 times. Unexpectedly, after holding it for 6 months, I can only sell it at 1 times the price. Every time you go up, you should cash out 10-20%.

Try everything you can as early as possible

Curve Finance has not yet announced that it will retroactively airdrop CRV, because they recognize their philosophy very much, and Michael Egorov is a giga-brain, I am very pure for this The platform provides liquidity. I ended up being rewarded with $100,000 in CRV (CRV was less than $3 back then). Everything is worth trying.

Leave yourself a moonbag

I dumped all the YFIs I had farmed on yearn.finance when they were $600. I think I made a quick buck, which is nice. Unexpectedly, not long after, YFI soared to $60,000 each. Keep a moonbag, keep 10-20% of the Token, don't sell them all,

Take NFTs for example, it's too late now, if someone told me this earlier, I would have to mint several of each project. I once spent 0.08 ETH to mint a "boring ape" and sold it when it was worth 1.5 ETH. At that time, I really thought I was a genius. Now this "boring ape" is quoted at 150ETH (100 times when I sold it).

Find a community of like-minded people

If you are in the crypto industry full-time like me, it helps to have people you can trust. Be nice to other people, you never know what they're dealing with. Whether it’s online or offline, it’s important to create real connections.

Through Telegram, I got to know various entities, projects, VCs, and trading platforms. Kudos to the PetRock Capital team led by Ronald. This is a Singapore-based VC with some of the hardest working and kindest people I've ever met in the space. I am very lucky to work with them.

Receptive to new learning opportunities

I thoroughly enjoyed working with projects and companies like Raydium, Bybit, Euler Finance, SupraOracles, Hype and learning from the best in the field. I am open to opportunities.

In the past few months and years, I have lost a lot:

1. Selling BTC at historical lows and ETH

2. In the Bitcoin flash crash last November, I lost $160,000 in automated robot trading and $60,000 in option vaults

The market will not let you go, as easy as you earn, you will suffer as much as you lose. While not earning the fame and fortune that Darren Lau and many others have, I ended the cycle with some USDC, an apartment and a car. For that I am grateful and remember my good fortune.

The next bull market will come, how will you prepare for it? For me, I will reflect on the past, hold and continue to buy BTC and ETH, work on personal projects and research new projects, and make new friends. Feel free to contact me on TG.

As long as you are diligent, kind, hard working, and adaptable to change, I promise you we will succeed someday.  

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