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SBF
@SBF_FTX
Replying to
@SBF_FTX
3) Well, first, that's everyone. Everyone's coin is down today. (Except USDT which is maybe up 2bps.) But some have never been here before. So what do you do, if you run a project, and that project's coin is down?
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SBF
@SBF_FTX
4) First of all: there's only so much you can do. Sometimes people buy, sometimes they sell. Take a deep breath. I'm sure your Telegram is blowing up with people pointing out the coin is down. So be it.
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SBF
@SBF_FTX
5) What next? Well, I always remind myself two things. The first is that there are two types of coins in the world. E.g. FTT is in one category and SRM in another.
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SBF
@SBF_FTX
7) FTT doesn't really have 'bull runs' and 'bear runs'. It just, you know, grows with FTX, and with the buy/burns and trading discounts and SRM airdrops and stuff. It's low volatility, and stable, and mostly a fundamental asset.
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SBF
@SBF_FTX
9) SRM goes up, a lot; and it goes down, a lot. It's more volatile. Because SRM is based on the future: the notion that bonfida.com/dex/#/ is a proof of concept (a powerful one!) and that the future will involve more: an ecosystem, and large volume, and growth.
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SBF
@SBF_FTX
10) This isn't to say that one is 'better' than the other. They're different. But it also underscores something: unless an asset is just obviously 100% massively underpriced, _you can't go up if you can't go down_. Nothing is 100% going to double in price every month.
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SBF
@SBF_FTX
11) And so for an asset to be able to double, it has to be able to halve; and when an asset halves, it means it can double.
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SBF
@SBF_FTX
12) That's the first thing I remind myself: remember how exciting it was when things went up? Now things are going down. That gives breathing room to go back up. Things go up, and they go down, and they go up, and they go down. And hopefully, they go up.
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SBF
@SBF_FTX
13) The second is: Focus on what you can control. You can control PR, and messaging -- and that really matters, when things are bad and when they're good. But you can't control others. Sometimes, things go down. Sometimes a stimulus is canceled, and the S&P500 is down.
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SBF
@SBF_FTX
Replying to
@SBF_FTX
14) BTC is down, as is ETH, and LINK, and DOT, and FTT, and SRM. And FTT is down less, and SRM is down more, and that reflects the upside too: some things move more than others.
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SBF
@SBF_FTX
15) But you can't control that -- you can't will a token to go up when everything else is down. So do what you can on PR. And then build. Build, because that's what you can do for the project. Build a project the token will be proud of. In the end, that matters.
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SBF
@SBF_FTX
16) Because if you build--whether things are good or bad--and you promote the product well, and handle PR, and build a good team, and release good GUIs, and choose the right product--if you do those, then you put the token in a position to go up again, when the market is ready.
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