If you’re not into crypto you might have no idea of what just happened. But the lessons are many and important.
In the middle of this massive market downturn things are getting crazy. And for crypto, even crazier. In the past 2 days, a ton of people lost millions. All in a couple of hours.
A popular (in the nerd circle) alt coin, called “Luna” and its counterpart tied to the US dollar “UST”, crashed. They were supposed to maintain stability around $1, but when you leave control of this stuff to an algorithm, you can’t really expect such thing as stability.
Too many factors involved.
This ignited a chain reaction of buying and selling, exchanging coins, trying to get out of this mess.
I speak from personal experience as I lost some too.
They say invest what you’re willing to lose, which I did… but it’s never easy when it happens.
What I can take comfort in, are the lessons in psychology and in how very little sense our decisions make before shit hits the fan. It’s the gift of hindsight.
It’s also a lesson in how much our perspective changes between the before and after. When all is fine, when the price is high, you want more. But when the price tanks (and you could accumulate more), you don’t want any.
It’s a crazy cocktail of tribalism left over by our ancestors, and of our emotions firing up without control.
Only when you experience such highs and lows yourself (we all probably have once in life), you understand. And it’s the reason why no marketing approach works every single time.
Brands and people operate in too many different and unpredictable ways.
This crypto mishap if anything, has been a great reminder that nobody really knows anything. We’re all just trying to make our best, most educated guess.
Fail, win, win, fail.
What matters are the learnings you take with you.
Obviously there are better, more efficient ways to learn. You don’t always win, but you surely learn. If you need help with learning how to increase conversions on your site, hit me up.
P.S. I’m thinking on offering a monthly consulting package. You get a couple of hours a month to work with me and ask me anything copy, UX, CRO related, for a fixed price. Interested or know anyone who might be? Just reply to this email firstname.lastname@example.org.