Essential Course for Crypto Players: Maintaining Balance Between Mental Health and Earning Money

Original Title: “Between mental health and money”

Author: ROUTE 2 FI

Translation: ShenChao TechFlow

Today, let's discuss mental health and the crypto market.

Personally, I find it challenging to cope with mental health and asset issues in a turbulent market. The market is highly volatile, and you can't predict what your net worth will be the next day, but that's the reality we investors face.

"The best outcome is as glorious as Valhalla, and the worst outcome is just returning to the original life. Screw it, keep going." ------ from a trader

Is it a choice between money and mental health?

This is a question I've been pondering lately, especially when reflecting on the experiences of those who have made vast fortunes in the tumultuous world of cryptocurrency.

Someone once said, "You don't want to retire. You want the freedom to pursue what you love." However, I can't help but notice that those who get rich in this field share a common trait: once they make enough money, they want to completely exit the crypto market.

In cryptocurrency, we bet everything on a massive wager, hoping it will grant us financial freedom for life. The worst-case scenario is that we lose everything and have to return to normal life.

The best-case scenario is that we create generational wealth.

But at what cost?

When I talk to many people in the cryptocurrency space, they all dream of making life-changing money during this bull market cycle, wanting to retire permanently. By retirement, I mean no longer being immersed in the chaos of crypto Twitter every day, chasing the next bold investment project, but rather hoping to live off staking rewards (theoretically) and occasional speculative gambling after making enough money.

The reality is that very few people actually leave this market. Once you've tasted the thrill of these markets, it's hard to walk away. Even those who have made enough money to comfortably spend the rest of their lives on the beach will return to the market. It's like an endless game of financial markets, and when the "music stops" (i.e., the market crashes or experiences significant changes), no one wants to be the one who didn't exit in time during the market upheaval.

So why do we seek exit signals?

Why does everyone say they will exit this cycle if they make money? Part of the reason is that they think it's a wise choice. But I believe a bigger reason is that the 24/7 mental pressure begins to take its toll on people. The cryptocurrency market is a relentless existence that brings immense stress.

Imagine a significant portion of your net worth is in speculative assets, and these assets could drop over 80% due to a billionaire's tweet.

You wake up and go to sleep every day seeing massive fluctuations in your "portfolio." You stare at your phone tracking prices every waking moment. This cycle of hope and despair gradually drains you.

Then consider the opportunity cost. Every minute spent staring at charts is stolen from time spent with loved ones, pursuing hobbies, or improving your mental and physical health. Not to mention the severe disruption it causes to your sleep schedule and circadian rhythm.

So, let's talk about the impact of cryptocurrency on us and the true meaning behind these "wagmi" (we're all gonna make it), "lambos" (luxury cars), and moon missions.

Positive and Negative Changes

Undoubtedly, if you do it right, the potential financial gains are enormous, even life-changing. But I can't help but wonder, is it all worth it? How much money is "enough" compared to the best years and relationships in your life? Even if you reach that magical number, then what? What can money really buy?

Some might say it gives you freedom. The freedom to do what you want, when you want. Pursuing your passions without financial constraints. But I believe for most people, freedom is an illusion. Because this game is so addictive that even if you have "enough" money, you can't help but return to the market.

This is not to say that people haven't improved their lives through cryptocurrency. Many have been able to escape poverty, flee high-cost areas, and pursue a better life through this technology. This is one of the most wonderful things about an unpermissioned financial system, isn't it?

But behind every success story, there are countless people chasing the same dream. However, they may have lost years of time and savings due to scams, hacks, and bad trades. The temptation of 100x returns is always around the corner, ready to lure them back in.

So before you dive headfirst into buying new low-cap coins, ask yourself, what is the real cost? Are you really ready to dedicate the best years of your life to the cryptocurrency market? To chase wealth at the expense of precious time with friends and family? Maybe you are, and that's your conscious choice. But don't fool yourself into thinking it's not at a tremendous personal sacrifice.

As a wise person once said, "You can make money again, but you can't get back time." So as we dive into the next frenzied bull market, take some time to reflect on what you're chasing and why, and make sure you've weighed it all.

Because the biggest risk in cryptocurrency is not getting scammed on Doge, nor is it having your assets devalued by 90%. It's that you may end up financially richer but find yourself mentally and emotionally bankrupt. Then, no amount of money in the world can make up for what you've sacrificed.

Cryptocurrency has indeed changed lives. For some, it has taken them from poverty to wealth, allowing them to completely transform their financial situation and quality of life. From barely making ends meet to being able to care for loved ones and pursue dreams. That kind of freedom is priceless, isn't it?

For others, these changes are more subtle. Perhaps they still work a 9-to-5 job, but now they have some money saved in stablecoins that gives them peace of mind. Or they have been able to pay off high-interest debt and improve their credit scores, which will provide them with more opportunities. Even a little bit of operational capital can be powerful.

Of course, not all changes are positive. I've seen friends consumed by the crypto market to the point where it takes over their entire lives. Every waking moment spent staring at screens, neglecting their health and relationships. The dopamine rush from each market rise can be as addictive as any drug.

The immense wealth some have gained also has its dark side. Sudden wealth can breed paranoia, isolation, and attract all the wrong people into your life. Not to mention the immense pressure that comes with maintaining such an unsustainable lifestyle.

"More money, more problems" is a saying for a reason.

Ironically, for many who have "succeeded," their relationship with money has become more strained than ever. What was once a means to an end has now become the end itself. The fear of losing everything can be as psychologically damaging as the poverty they are trying to escape. Many lottery winners end up tragically bankrupt, and it's not without reason.

So, while the financial gains of cryptocurrency are undeniable, it's important to remember that wealth is just a tool to help you live the life you want, not the ultimate goal. If you're not careful, the pursuit of wealth can ultimately lead you to lose everything and make life meaningless.

That's why I believe the most important skill in this field is balance. Pursue financial goals while also maintaining mental and physical health, relationships, and self-awareness. While striving for financial success, keep a holistic perspective on life, value and develop identities and values that are not tied to wealth, and don't let the market consume you.

I know this is easier said than done. FOMO is real, and the pace of innovation in this field is incredibly fast.

So my advice is: pursue your dreams, but not at the expense of sacrificing everything else that matters. Set clear boundaries for your time and emotional energy. Profit along the way, and diversify your investments into assets outside of cryptocurrency. Build a lifestyle that can withstand market booms and busts.

Most importantly, never forget why you started in the first place.

Because when the dust settles and the bull market inevitably ends, you'll realize that the fleeting dopamine rush from market rises or the satisfaction of seeing your assets grow really doesn't matter.

What matters are the relationships, experiences, and sense of purpose you've built along the way.

So as we chase our dreams, let's not forget the ground beneath our feet, maintaining a sense of reality and pragmatism. Because while cryptocurrency may make you rich, what truly enriches you are the things that money can't buy.

Dream chasers, keep moving forward bravely,

But please be cautious and don't overlook the potential risks.