My Third Bear Market ₿ 🐻 (It's Becoming More Competitive....Level Up!)

As the crypto currency industry progresses it is getting more and more competitive to survive the bear market for a few reasons. First of all just a buy low and sell high strategy isn't going to give you as big of a multiple as it would have if you would have went all into Bitcoin in 2015. There wasn't a lot more that a person could have done besides mine and stack or buy and stack. The industry evolved to where it takes more complex strategies to maximize the potential of the money stacked or mined which becomes the new threshold. Miners having massive bags just sitting there doing nothing waiting until the next bull market doesn't make any sense. A lot of miners have went out of business trying to utilize that strategy because the bear market is so brutal that they are either running at a loss or barely breaking even. The larger you scale with these mines you gain some economies of scale but then you also create a bunch of new problems. Suddenly you have to build all this other infrastructure to move all the hot air or try to cool the area down. You also likely suddenly need more employees to manage the mine and your building either cost a bunch of money to house all this equipment. At this point you really can't afford to just be sitting on coins in cold storage that aren't earning some sort of return.

Also on a smaller scale there is an army of people teaming up to work together to get rewards from chains that offer rewards for blogging or doing other tasks on various blockchains. People providing liquidity on DeFi platforms and people using advanced DeFi strategies to maximize their output.

All those legions of people taking positions and teaming up to build their stacks are going to compete against the next set of n00bs coming in this next bull market. Some of the n00bs will catch a temporary windfall but then will often either follow bad advice or think they are an expert after two weeks of being in crypto.