Crypto OGs - The Daily Gwei #452
They're formed in bear markets and set free in bull markets.
“Crypto OG” is typically the moniker given to someone who’s been around the crypto ecosystem for a market cycle or two (which translates to 4-8 years). These people are usually seasoned veterans with a lot of experience in both the markets and the ecosystem in general - and they’ll tell be sure to tell you about it too!
Being one of these “crypto ogs” can either be viewed as a badge of honor or as battle scars. This is because these ogs have typically experienced many long years in this industry that we all know can be very brutal. To sit through all of what crypto throws at you for years on end requires a ton of patience and an iron stomach for wild volatility. Surviving through crypto bear markets and continuing to build with the others who are left creates a sense of comradery and typically greatly strengthens a community so that when the next bull market rolls around, they are ready to capitalize on it both socially and economically.
Even though this industry is incredibly addictive, it can wear even the most passionate of people down over time. I personally know quite a few passionate ogs who’ve been in this industry for over 8 years now that are just totally burnt out and have had to step away for the sake of their mental health. Obviously burn out, stress and anxiety isn’t unique to the crypto industry but what is unique to crypto is the sheer speed at which it all happens - especially during bull markets. Though I think this is natural - as these ogs filter out or take a back seat, new ones flow in to succeed them.
On that note, and on the opposite end of the OG spectrum, we have the “first cyclers” which is obviously a moniker used to describe people who’ve only been around for 1 crypto market cycle. The vast majority of these people leave pretty much immediately after the market goes quiet and take their money (or lack thereof) with them. The small minority that stick around typically go on to become the new crop of ogs whether as investors, builders, educators or something else. And as I mentioned above, these are typically the people who reap the most social and economic rewards once a new bull market comes around.
Alright, so what’s the point of this piece? Well basically I’m trying to tell you that you should continue to stick around and become a crypto og yourself. Obviously take care of your mental (and physical!) health first, but if you’re passionate about crypto and are indifferent to the price/markets over the short-medium term, then there is never a better time to build than in bear markets.
Have a great weekend everyone,
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All information presented above is for educational purposes only and should not be taken as investment advice.