🦉 WoW #69 - When things go wrong, fix them 🦉

May 19, 2021 5:59 pm

Happy Wednesday, Wise Owl Nation!


We are now a full week into my "in-between jobs" vacation.

Not going to lie, it's been a little weird.

It's also just so nice to not have obligations beyond family, friends, and self.


First things first, some administration updates!

If you care about the referral system, keep reading this section.

If not, skip to the wisdom tip of the week!


The referral awards have changed.


A few of my readers have tried gaming the system to take advantage of it.

These folks had fake emails or family members join the newsletter and never engage with any of the emails.


They then proceeded to demand the free coffee mug I used to offer readers that referred 10 readers.


Sigh. I write this newsletter for free. For the benefit of others.

And so this is why we can't have nice things.


This also made me realize that the rewards I was offering were only appealing to scammers.


So I changed them to the following:


Refer 1 active reader - get an invite to the Wise Owl Discord.


This is going to be an attempt by me to grow a community of like-minded people using Discord as the medium. There you can ask me questions directly, and talk about topics like Crypto with other readers.


Refer 5 active readers - Get a permanent discount code for the WoW store.


Yeah, I realize this isn't that exciting, so I will be thinking this one over. But for now, this reward stands


Refer 15 active readers - Get $10 worth of Bitcoin


Hey now at least this one is probably exciting to most of you, right?

Why Bitcoin instead of Ethereum?

  • It is currently cheap to send bitcoin anywhere in the world
  • Bitcoin is extremely liquid and you can swap it for almost anything
  • My mining rigs pay out in Bitcoin and so I can afford to do this for a long time


Okay, phew, glad that is over with.


This week I talk about:

  • Why you what others think of you doesn't matter
  • Change your life by not changing your whole life
  • Crypto crashing


Let's get into it.


You can find all past issues (including this one) here.



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🧠 Wisdom Tip(s) of The Week: What Others Think About You

How many people dislike you?

Personally, I have no idea, but I know they exist.


This is true for all of us. Humans are tribal in nature and have a terrible tendency to dislike things we don't understand or don't agree with.


There are no true actions you can take in life where everyone will be happy with you.


If you start to improve yourself, those that aren't improving will hate you for it.

This is life.


I write often about the importance of focusing on what you can control.


Three things you cannot control:

  • The perceptions of others
  • The preferences of others
  • The expectations of others


Perception, preference, and expectation. These three concepts make up someone else's world, and you have absolutely no control over any of them.


Why then, would you burden yourself by giving a damn what they think?

If the choices you make in your life don't match someone else's expectations, that is on them, not on you.


Focus on what you can control and let go of everything else.



🥑 Health Thoughts of The Week: One Consistent Change

The hardest part about losing weight and becoming healthy isn't eating healthier, exercising more, learning to cook, or any of the other things one must do to change their lifestyle.


The hardest thing is the mess of rewriting all the bad habits that led to poor health.


"The most reliable way to change your life is by not changing your entire life.

If you try to change everything all at once, you will quickly find yourself pulled back into the same patterns as before. But if you merely focus on changing one specific habit and work on it until it becomes part of your normal day, you will find your life changes naturally as a side effect.

Improve the whole by mastering one thing." - James Clear


To start with, you need just one change. Just one change that you stick to.

That change could be as simple as driving to the gym every day. Even if you don't get out of the car.


Seriously.


It could be swapping water for soda, or just going for a walk every day.


Eventually, that one change will become the habit, and you can then start working on a new change. It may seem like a slow process, but each change is improving you dramatically, and once you have more than one healthy change in place this process starts to compound.


image


This is one of my favorite images for a reason.

All progress is slow at first.


You have to break through the consistency barrier before the gains start to compound and become much more noticeable.


I've been buying $50 worth of Ethereum every week for years.

At first, it didn't amount to much, but over time, regardless of ETH's price, it starts to become a respectable amount.


Growth is a pretty similar process across all areas of life.


  1. You want a change
  2. You acquire knowledge on how to change
  3. You take action on that knowledge
  4. Stay consistent
  5. Review your results
  6. Start the process over


Steps 1-3 are the easy part we all go through when we get excited or motivated.

Step 4 is where many of us face obstacles, setbacks, and become demoralized.


So focus on just one thing and keep at it until it becomes completely ingrained in your life. Then start over.



🤑 Crypto Tip of The Week: ETH goes on sale

The Crypto bloodbath continues. The entire market took a big swing over the weekend and that has continued into the week (as it normally does).


Again, if you only hold BTC and ETH, you are fine. Ethereum will be jumping up in value after EIP-1559 goes live regardless of what the rest of the market does.


You know, I had a dream about this 10 days ago.




The crypto market is going to drop as fast as it goes up sometimes, and that is okay. This is why I buy ETH every week, so I don't have to worry about price fluctuations.


The fun part about ETH staking is that each week I earn the same amount of ETH regardless of what the $ price is.


Honestly, if I didn't write about ETH so much I'd probably just not check the price at all and go about my daily life.


This is the mindset I hope many of you start to adopt.

You don't invest in shit coins, because when the hat eventually drops, the coins you own have to be able to weather the markets, so you better hope your shit coins have some sort of use case or they will get left behind.


Bitcoin and Ethereum will be fine.

The Defi governance tokens will be fine (Comp, Uni, Aave, etcetera)

Stablecoins will, obviously, be fine as they are stable.


No clue about the other coins.

But you don't own any of those, do you? 😉


Quote/Meme of the week:

image


Are you guilty of this?


Can you easily rattle off the price of various cryptocurrencies without being able to talk to the value those coins may or may not be bringing to the world?



Have a great week!

This concludes our issue this week, I hope it gave you some perspective or injected a little motivation into your life!


If it helped, let me know! I read every newsletter response I receive, and I absolutely love hearing from all of you. This newsletter is for you, so I need your help to make it as great as possible.


If you'd like to show me some love for writing all this free stuff, you can always buy me a coffee.



More Resources

I will be adding to this section over time as we find resources that will help you all.



Crypto Resources

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The Bankless Podcast: This is a link to the bankless podcast on Spotify. Start from the very beginning and learn why I am so positive about the power of Crypto and Ethereum in particular. You can find the podcast easily on the internet, but I am linking to episode 1 on Spotify for your convenience.


Buy your first ETH or BTC:

  • On Coinbase - this is the easiest starting place for the newest beginners
  • On Gemini - Another great option founded by the Winklevoss brothers. They are based out of New York.
  • On Kraken - Kraken has a bit of a harder user interface, but they already have ETH staking enabled with the push of a single button.

Earn interest on your crypto

  • BlockFi - Currently, you can earn 6% interest on BTC, 5.25% interest on ETH, and a whopping 8.6% on stable coins like USDC. Use the referral code b09f24fd to support the newsletter.

Other tools:

  • Argent Wallet - This is the best mobile wallet for Ethereum, Defi, and all things on the Ethereum network, including staking. They even have plans to implement Layer 2 to remove network fees.
  • Ethhub - this is a weekly newsletter that lists out all the interesting news, articles, and tweets that have happened in Crypto that week. It's free and awesome.
  • Ethdashboard - A simple dashboard to look at various metrics in the ethereum space. I mainly use this as a quick tool to check ETH gas fees.
  • Cointracker - this is one of the better tools for tracking all of your various crypto across all of the various wallets, exchanges, etc. You can also use them to do your crypto taxes each year.
  • Metamask - this is a crypto wallet that you can access from your browser and allows you to easily interact with blockchain apps online.
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