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Welcome to Goblin Town - 🎁 Wrapped: The Weekly Web3 Newsletter

Welcome to Goblin Town - 🎁 Wrapped: The Weekly Web3 Newsletter
By Futureproof • Issue #17 • View online
3.8.22 - By @DepecheNode_

Welcome to Goblin Town
It’s been another brutal week in crypto land. While I’m a long term bull and believer in crypto/NFTs, there is one systemic risk that we will always face here: the flow of capital. Our little world lives and dies based on inflows and outflows of capital. It turns out this time was not, in fact, different. Now is the time to decide: will you stick around? Or leave like 90% of retail? I’ve decided to stay and write about my feelings so I don’t have to go to therapy. Here are 8 things I did right and 8 things I did wrong this cycle.
8 Victories
  1. Was relatively early. Bought some ETH @ $250 & BTC @ $12k
  2. Curated a solid list of quality CT people to follow 
  3. Developed great relationships with incredible individuals s/o Hunter! 
  4. Had an enormous amount of fun buying NFTs and getting involved in different communities
  5. Started a local crypto community here in Utah. Our discord is 150 strong! 
  6. This newsletter. It’s been a great tool to help me continue learning. 
  7. Bought blue chip NFTs early on. Remember, all value accrues to the top. 
  8. Learned defi
8 Mistakes
  1. Conservative when I should have been risky (primarily held the most conservative crypto assets during the bull run)
  2. Risky when I should have been conservative (Iost a lot of money over the last 3 weeks by rotating into risky assets trying to make it all back)
  3. Managed some capital for my dad…we are not in the green. 
  4. Bought $OHM & $BGLD lol
  5. Used leverage, got liquidated.
  6. Overtraded. Taxes will eat me alive
  7. Didn’t take profits
  8. Got married to my conservative bags and missed the alt-L1 trade
Next Time 
The bear market won’t last forever. Things can change fast, so when the next bull run begins I’m going to be ready. Here’s my plan:
  1. DCA into quality assets & do NOT touch (BTC & ETH for example) 
  2. Set aside a small bucket for risky assets - feel free to trade as often as needed
  3. Don’t FOMO buy anything. There’s always another opportunity around the corner
  4. Identify the metagame and be decisive
  5. Stay involved now in order to recognize opportunities before the bull market hits
  6. Read more medium articles and less twitter threads
  7. No leverage (every single person I know that used leverage, including myself, got liquidated at some point)
  8. Take profits!
Weekly Highlights
  • Cyberbrokers top OS charts with 8,000 ETH in volume 
  • Tai Lopez is here
  • Andre Cronje (YFI) says goodbye 
  • CryptoPunks matches BAYC floor briefly 
  • Weekly Winners:  VeeFriends 17, Proof 33, Meebits 3, Twin Flames 100
  • Weekly Losers: Unigrids 7, NFT worlds 8, HAPE 1.42, Capsule House 1.1, Anonymice 1.1
DISCLOSURE: I own NFTs. Specifically, punk #2971 if you’d like to dig around.
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Futureproof

Explorative, web3-centric market analysis and digests. Advisory and Angel updates.

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