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HEALTH, WEALTH, AND HAPPINESS

July 14, 2022

"Thought is the original source of all wealth, all success, all material gain, all great discoveries and inventions, and of all achievement."

- Claude M. Bristol

Is the World Really Falling Apart? (New York Times): While things may seem bleak, humanity is actually better off than recent generations by nearly every measure. This article explains the cognitive dissonance that makes it feel otherwise -- especially for those of us in rich countries. (Most of the world is optimistic!)

How to Be a Part-Time Optimist (Wall Street Journal): When the markets are melting down, keeping a positive investing mindset is critical to spot new opportunities. This companion article gives simple tips -- or "mind hacks" -- on staying positive.

Investor takeaways:

Walking from Wolves

With great power comes great responsibility. A tool like the internet, which in my mind is still in diapers, especially Web 3.0 with its transaction finality, means we're all gonna have to be a lot smarter if we want to make it to the next level.

Even though it was a tough lesson to learn, especially for everyone affected by the recent platform bankruptcies and withdrawal freezes, ultimately this bear market is a blessing in disguise. Alex Mashinsky and others like him have been revealed to be wolves in sheep's clothing. Their claims that people should not trust banks are true, but that doesn't mean you should trust everyone using the phrase crypto in their tagline.

That's why I believe that after all this blows over, the lesson we'll have learned is that we shouldn't trust anyone. Code becomes law and only transparent verifiable code is deserving of our trust. Decentralized finance is still in its infancy and these tough times will be what pushes the toddler to walk.

Follow the Money

The nightmare is over. If last month the crypto industry was in agony from the shock created by bitcoin's sudden plunge, this month I smell a lot of optimism in the air.

Market participants are currently hitting the grind harder than ever before, consolidating and rebuilding from the rubble of the bear market devastation. One crypto analyst pointed out that crypto companies saw only about $7 billion in M&A activity in June. According to his calculation, we've already seen $10.8 billion so far this month, and we're only halfway through.

That's it from me today. Wishing you an awesome week ahead! 

Best Regards,

Mati Greenspan,

Analysis, Advisory, Money Management

Bitcoin Market Journal is a daily newsletter that makes you a better crypto investor. It is created by Evamarie Augustine, Charles Bovaird, Mati Greenspan, John Hargrave, and Alexandre Lores.

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