Bear Market Diary 2023: Ruben Interview
By @piratebeachbum - Analyzing The Bitcoin Bear Market Series - Volume 16
Name
Ruben
Country
United States
How do people know you?
They know me on Twitter for shitposting.
How long have you been into Bitcoin?
I’ve been interested in Bitcoin since 2015 and finally decided to hop in on February 2017.
How many Bitcon market cycles have you been through?
This is my second one, although this bear market doesn’t feel even close to the pain of the last one.
What are you optimistic about in this space despite the current state of the market?
I’m optimistic about the determination and mindset of Bitcoiners overall.
What tips do you have to those who are new to this or who might be upside down?
You must persevere. Bear markets are hard. Look for an income and stop obsessing with the price movements.
Biggest regret during the last bull market?
Not selling all the shitcoins I had. At the time I was not yet a maxi, but I surely became one.
What have you learned so far in this bear market?
It’s easier to have conviction with each bear market.
What is the biggest fail you have seen during the last bull cycle?
A big failure is in the gap of knowledge. The last bull cycle taught us that most people do not yet understand the importance of true digital scarcity - ((NFT)).
Bragging rights are not a currency that reflects scarcity or something that can have sustainable value.
What do you think about all the influencers promoting companies and products that have imploded?
I think it’s disgusting but expected. Unfortunately some people will still give them credence.
Why do you think people still listen and support these people?
Most people are afraid of confrontation and consider these individuals as a “net good” for Bitcoin even though they pervert the principles of Bitcoin and broadcast them for profit.
What do you think helped trigger the current bear market?
It’s hard to say, but if I remember correctly, it started with FUD about mining and the environment.
Who was most exposed during this last market meltdown?
I would say probably Pompliano. It’s been rough for him.
What are your thoughts on Bitcoin Maximalism?
I think we’re on the right path. Bitcoin is the way. It will take much longer for overall adoption to happen, but I’m here for it.
Why do you think there is an emerging narrative to demonize Bitcoin Maximalists?
It’s a desperate attempt to control the narrative.
They can’t profit off maximalist ideals. They can only attack our ideals. It gets harder for them to control the narrative when we’ve been proven right time and again.
What kind of damage do you think the latest price drop has done to buyer sentiment?
It depends on the buyer. I’m interested in educated buyers who’ll buy and Hodl because they understand the value of it.
What is it going to take to turn this around?
It will take our continual collective work in our respective capacity either for our own gain or for the gain of those who listen to our advice.
One conversation at a time. One more potential Bitcoiner. One more stack. More distribution. More decentralization of monetary power.
What are your tips for HODLing Bitcoin through this cold bear market winter?
Learn conviction and buy.
If you have no conviction, sell your Bitcoin.
How do you feel about alt-coins and NFT’s and stable coins right about now?
It’s a major waste of time. People misunderstand the technology and what hard money is all about.
What do you think about the whole collapse of FTX and Blockfi?
I think it’s overall a great opportunity for people to understand now why Bitcoin and not shitcoins. It’s also a great lesson on why you should hold your own keys.
What is the best way to accumulate Bitcoin during a down market?
Stay humble and stack sats. (DCA)
Any tips you want to give to people new to Bitcoin?
Yes, learn from the wise.
Gigi , Saifedean, Giacomo Zucco, and many more to name. You will surely find signal here in the Pleb Underground.
Any last words of wisdom?
Yes, it comes from proverbs chapter 6.
Go to the ant, you sluggard; see her ways and become wise,
ולֵֽךְ־אֶל־נְמָלָ֥ה עָצֵ֑ל רְאֵ֖ה דְרָכֶ֣יהָ וַחֲכָֽם:
for she has no chief, overseer, or ruler;
זאֲשֶׁ֖ר אֵֽין־לָ֥הּ קָצִ֗ין שֹׁטֵ֥ר וּמשֵֽׁל:
yet she prepares her bread in the summer; she gathers her food in the harvest.
חתָּכִ֣ין בַּקַּ֣יִץ לַחְמָ֑הּ אָגְרָ֥ה בַ֜קָּצִ֗יר מַאֲכָלָֽהּ
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