The ARK Crypto Podcast

ARK Crypto Podcast #018 - 8 Things That Helped Me During Bear Market & More 30DOA Highlights

Episode Summary

The eighteenth episode of the ARK Crypto Podcast is here! This week we talk about eight things that helped me during the bear market. There's always a lot to look forward to in the ever-evolving blockchain space, but it hasn't been all unicorns and rainbows. Negativity in various crypto communities can sometimes put a damper on things. The ARK community is a very future-oriented and supportive bunch, but earlier this year I also took small steps to stay motivated and positive throughout the FUD. If you need tips in that department as well, check out this week's episode! These eight tips had a positive impact on me. None of the tips revolve around financial or trading advice. Also on this episode, we discuss some more highlights from the 30 Days of ARK campaign happening now on reddit.ark.io, where delegate Jarunik has put forth 1000 ARK to be earned by all participants! Enjoy!

Episode Notes

Hello, crypto land. I’m Justin. It’s Friday and this is the ARK Crypto Podcast Episode 18.

Well, well, the podcast is finally all grown up. They grow up so fast, don’t they? You blink and you miss it. Well, before we get started, don’t forget to subscribe to the big three, that’s the ARK Twitter, Reddit and Slack. Twitter is at Twitter.ark.io, Reddit is at Reddit.ark.io and Slack is at slack.ark.io. Slack is like our giant real time chat system that keeps you up to date with all the community members and also helps you build new relationships within the ARK community. Not only that, but on the Reddit right now, we are running a 30-day long campaign called 30 Days of ARK, where you can learn about, and contribute to, 30 ARK concepts, one per day. We’re going to go through a couple of highlights from the last few days or so and on this episode as well, we’re going to talk about eight things that personally helped me get through bear market. I figured that I’d want to share this with you because it really helped me out and might help out some other community members as well.

We’re going to jump right into this. Get the music out of here. This week on the podcast, we’ll just cover a few days. You can follow along and take a look at other days on our Subreddit, reddit.ark.io. You’ll see a sticky post at the top that talks about the 30 days of ARK and the rules, details and things you want to know, along with all of the day links.

Now, you can also earn ARK if you contribute to any of these days with your own thoughts and comments. That is due to the extreme generosity of delegate Jarunik, who has graciously given 1,000 ARK, 1,000 ARK, 1,000 ARK, to this campaign that can be earned by everyone who contributes. There are no winners. There are only earners and you will earn a proportional amount of Jarunik’s ARK based on the word count that you provide in all of your comments for all of the days. You can also go back in time and contribute to past days and still earn ARK.

Let’s get started with day six. Day six talks about delegate services. ARK delegates are people, or teams of people, who run delegate nodes all over the world in order to secure the blockchain and create new ARK tokens. Unlike a simple Bitcoin or Ethereum miner, ARK delegates run unique and valuable community services that benefit the users of the network. This is part of the ARK protocols value offering. After you create your bridgechain and start to build your own community for your project, you can hand it off to your community and they will handle the network operations as well as community services and growth, keeping an inspiration feedback loop as delegates inspire future delegates to launch bigger community services. This keeps value from leaking out of your community’s economy into the hands of miners who do not directly benefit your community other than running a node. Most delegates share their forged ARK with voters according to each of their proposals. Voting rewards are voluntary and they are not system controlled. ARK.io does not run the ARK network. Responses are the sole opinion of ARK users and do not act as endorsements by ARK.io or its agents to vote for specific delegates.

So, we have a lot of great responses here. I’m just going to pick one that stood out to me due to a specific sentence that I saw. We’ve got user CNNSSR who was featured last week as well, who says, ‘In ARK, the delegates are responsible for running and maintaining the DPOS system. Not only that’, he said my phrase, ‘Not only that’, I say that all the time, ‘Not only that, they also thrive towards further development of the platform and the community. Each of them offers different services in return for your vote and they all invest their earnings in improving ARK in a different way. Therefore, with your vote, you are able to direct the evolution of ARK ever so slightly towards the version you envision. Most delegates are very committed to their voters. Furthermore, they often show great engagement with the community which they tend to keep very lively and active with various events and contests.’

So, the sentence that really stood out to me was, ‘Therefore, with your vote, you are able to direct the evolution of ARK ever so slightly towards the version you envision’, and this is so true, you know, and it really speaks to the ARK network being of the community and of the users. So, as a user, and as an ARK holder, you have the power to sway and influence which delegates are forging new ARK, which in turn directs the landscape of community services that are available within the ARK MainNet system.

So, for example, if there’s a delegate that you see on the community website called ArkDelegates.io, a website run by delegate Deadlock, that acts as a directory of all the delegates and their services, so if you see a delegate that you like and is doing things that you really like, then you can vote for that delegate, which will further ensure that they stay forging in the future, and what this does is it shapes the services that are available. So, if, for example, you like a delegate that offers a bounty program where you can perform tasks within the community and earn ARK, then you can vote for that delegate and perpetuate that program.

So, this is one of the reasons why the DPOS system and specifically ARK DPOS is so, has so much potential in becoming the vision that is realized by the ARK community. Not only that, not only that, but a community member who aspires to become a delegate can do so with zero funds other than server costs. So, you don’t need to have special permissions like with some other DPOS models. You don’t need to hit extremely high performance thresholds in order to contribute to the high performance ARK MainNet. You can just be somebody with a great idea and community support and become an active forging delegate, much faster than you might think. Thank you for your submission.

Okay. Let’s move on to day seven. Day seven talks about the ARK desktop wallet. Ah, yes, the crown jewel of ARK, and it says right here, ‘One of the crown jewels of ARK is the desktop wallet. The ARK desktop wallet merges everything good about ARK DPOS and presents it in an intuitive package with elegant design. The wallet runs immediately without needing to sync and users receive voluntary voting rewards from delegates even when the wallet is offline. The wallet also has foolproof features that help new users feel confident using the wallet. The desktop wallet is available for Windows, Mac OS and Linux.’

Now, this time, we have Azure Infinity, who is a member of the ARK community committee, the group that is running this campaign along with delegate Jarunik who is providing the ARK sponsorship. Azure Infinity says, ‘I’m an ACC member and this is only my opinion and perspective. The ARK desktop wallet is not the first cryptocurrency wallet I have used. I’m not going to name other projects and talk about their wallets, but let’s just say they weren’t very good. Either they didn’t work properly, took many hours or days to sync, or they had a very boring interface. I understand this world is new, but at least put some effort in developing and designing a decent wallet. The ARK desktop wallet, talking about v1, was the most beautiful wallet I had seen in this space. It worked so fast, had ledger support and the UI was super easy to get used to.’ That means user interface. ‘Later on, it was possible to buy ARK via Changelly inside the wallet. Personally, I have never used that feature and most likely never will, but it’s cool nonetheless.’ Changelly does have certain restrictions for fiat purchasing of ARK, depending on your country region, etc. ‘One of my favorite features was custom backgrounds and I designed a few for myself. Now we have the v2 wallet. At first, I was a bit skeptical when I saw the sneak peek. It’s not that I didn’t trust the ARK team or that I disliked it, but I was so in love with the v1 wallet that I wasn’t ready for a change. I can say now with confidence that this v2 wallet is way better. It needs a little bit more work, but I think it’s almost ready for mass adoption’, talking about people new to crypto. ‘I don’t know if I can mention anything specific I really like about the new wallet because I love everything about it. I am a fan of the avatars, although I’m hoping there will be more options in the near future. That, and custom backgrounds,’ coming soon, ‘is on my wish list. All in all, the ARK desktop wallet has everything a great cryptocurrency wallet needs. It’s fast, looks slick and is super easy to work with.’ Thank you, Azure Infinity. Great entry.

There’s also a lot of other good entries on this day too. Now, I also hope as well there will be some more avatars, because I think avatars are cool and offering a custom experience for the user is good. I think that there are some good starting options, but we should definitely be adding more, and I’ll be following up with the wallet team and the design team on that aspect. Thanks again.

Okay. Let’s move on to day eight. So, day eight talks about the ARK mobile wallet. Now, I was very excited when the ARK mobile wallet was released in late 2017. It was really slick and awesome and really cool to access ARK with my phone, which is the device I use the most of course, and on this day, we have user windrip, who submitted a very insightful piece on the ARK wallet.

Windrip says, ‘I actually had never downloaded the ARK mobile wallet previously, so I took some time today to download and get acquainted with it.’ Ohhh, he downloaded the mobile wallet after seeing it on 30 Days of ARK! Excellent. ‘My comments here are the result of my first viewing of the wallet.’ Alright, let’s hear him. ‘The design of the App is beautiful and is what I would have expected from the ARK team.’ Same here. ‘Pretty much the entire experience is intuitive and user friendly and echoes the experience I’ve always had with the desktop wallet. I especially appreciated the extended multi-language and multi-currency options that are available, and I think it’s a great way to acknowledge and respect the international involvement in this project.’ And that’s true. ARK is very internationally oriented. We have team members all around the world. We have community members all around the world and growing. ‘One of the minor downsides I noted when I viewed the menu selections in the wallet, such as delegates or settings, is that when I clicked the back button, I was expecting the left-hand option bar to still be visible, but instead it dropped me back into the main account screen.’ Alright. We’ll have to do some testing on that and follow up. ‘Additionally, in settings, the privacy policy link is the only one that opens up a browser window instead of displaying the information within the App. My suggestion here would be to incorporate the policy into the App like everything else.’ Oh, this is a handy tip. We’ll take a look. ‘I assume it’s an external link because the policy may change from time to time, but I’m sure there is a method available to pull text from the webpage into the App automatically, which would reduce that concern and still allow a smooth UI experience.’ Very elegantly put, windrip. We’ll take a look. ‘It’s too bad that the ledger device does not work with IOS. I do think that this is an unavoidable impediment, since many people in the ARK community use a ledger to store their keys and when that is the case, I do think this is an unavoidable impediment since many people in the ARK community use a ledger to store their keys, and when that is the case, there would not be any way to access the same wallet from a mobile device.’

Now, interestingly enough, windrip, I would go so far as to say that when you are managing your ARK funds, it’s usually wise to store the majority of your funds in the most secure fashion, and then store a small portion of your funds in a more on the go fashion. So, the mobile wallet, of course, creates wallets that have very, very, very, very, very difficult to crack BIP39 pass phrases that you can back up on paper or in a vault somewhere, but then you can spend that ARK in that mobile wallet with your PIN. Okay? You have a six-digit PIN code. So, the six-digit PIN code naturally is also difficult to crack, but in theory, when you look at it on paper, is less secure than the BIP39 passphrase. So, what that means is if somebody were to know your PIN, they would be able to spend your ARK, like, for example, if you’re using the same six-digit PIN as some other services that you use and somebody gets a hold of that information somehow.

So, I say all that to say this. It’s almost best practices to reduce the amount of ARK that you carry on your phone with you, even though you do have access to that backup phrase. So, if your phone does get stolen or if it falls into a lake, then you can still back up your ARK and get access to your funds with the backup phrase. It’s usually a good idea to be mindful of the ARK that you’re storing with the mobile App. So, I understand your point. I understand what you’re getting at, but I do want to bring up that aspect of funds management with ARK and really any blockchain, any cryptocurrency.

So, ‘Overall’, windrip says, ‘the ARK mobile wallet appears to be a very solid App and on that I would be comfortable using to store, receive and send coins on a regular basis.’ Excellent. Well, thank you for your opinions and your thoughts, your improvements. I think they’re great improvements. What I’m going to do is turn these into Github issues and if anyone is listening who has further recommendations on our mobile wallet codes or our desktop wallet code, even our core code, you can create a Github issue and the development team will see that issue and react to it. That is handled on Github.ark.io.

Check out more days, contribute your thoughts and earn ARK on Reddit.ark.io today.

Okay. Let’s get into the second half of the episode, which are eight things that helped me during this bear market. I also want to make it clear that, you know, this is not financial advice. I’m not advising you to purchase cryptocurrency. I’m not advising you to sell cryptocurrency. I’m not judging you for selling cryptocurrency. I’m not doing anything like that. I’m just trying to provide support and insight into where I’m at personally and how I’m maintaining positivity through the bear market and maybe these tips will also help you as well.

The bear market has weighed on me all year, just like many of the people who are still here in the crypto space. Being a proactive person, I decided to take small steps to improve my outlook and stay positive. Here are eight things that helped me in this bear market in no particular order.

Increased Exercise

This is probably the biggest one for me. Before crypto, I had not exercised for, like, decades. I’m not particularly overweight, but I would say I was what people are calling skinny fat, where you don’t look out of shape at first glance, but after a few tests, a doctor could easily tell that you aren’t making healthy choices.

I purchased the Peloton Internet enabled stationary cycle for my place, because I don’t like the high impact nature of running. I started out with just free cycling every day and then moved up to the online classes when I felt ready. It was extremely effective. No matter how hard crypto kept crashing, I always felt better after a cycling session.

Now I’m at least 20 pounds lighter. The mirror is kinder to me. I have more muscle to work with. I get compliments from friends and family and I always feel a real spring in my step. My body is more capable than it ever has been and gives me valuable confidence to take bear market head on.

**Hit the dollar store. **

If you are fortunate enough to have a well-stocked dollar store near you, but you haven’t visited it yet, I recommend checking one out a couple of times. I hit the dollar store instead of Grubhub and I hit the dollar store instead of an expensive grocery store, not every time, but enough to make a difference. Every time I leave the dollar store, I feel like I’m beating the system, as I’m saving a lot of money for not much change in my quality of life. Hunger is hunger. Food is food and I realized I was handling that hunger as lazily as possible and spending 10 x per meal compared to the dollar store. Once I got a grip on that issue, I felt great during the bear market because I did not feel the pressure of overspending on food, a pressure I didn’t even realize was there, but check the nutrition facts though. Also, food is extra expensive where I live, so I received extra wins from this tip.

This is not specific advice to use the money saved to buy crypto. I’m just saying that the feeling of savings has helped me feel a lot better in this bear market.

Become Crash Proof

I decided to hold crypto and expose myself to all the crashes the bear market has to offer. As I have decided to hodl, I cannot specifically escape them, however, I eventually realized I can still become crash proof. I’m speaking of course of sugar and caffeine. I had realized that my average day was becoming wake up, check my phone, down 10%, feel bad, grab sugary caffeinated drinks, feel better, brain crash, check phone, still down 10%, feel worse, repeat from step five until bedtime. I stood up and said no more of this and cut out all sugary drinks like soda and fruit juice and all caffeine. Granted, there was a phase of withdrawal, but increased water intake and exercise lessen its effects.

Afterwards, I saw that I was feeling a lot better overall each day as I was no longer putting my body through these wild chemical swings. It’s like, Red Bull or crypto? Choose one. Cutting out all caffeine and drinkable sugar had a huge impact on my overall mood and ability to handle the bear market.

Now, I understand that some of you might get the impression that oh, if you’re this affected by bear market that you need to take all these steps, then you’re over-extended. Now, I do have responses to that, and firstly, I would just say that it’s definitely more, and not just about portfolio value, okay? If you invest less than you’re willing to lose, great. That’s what you want to do if you choose to invest on your own accord. However, this space offers a lot of future oriented thinking and excitement about new technologies in the world changing, and that can get you really excited. So, in a bear market where people are just complaining and losing interest, losing steam, that can affect the positive outlook you had about this technology changing the world, right?

I’m not saying that lower price means that there’s less chance of mass adoption. I’m just saying that it’s easier than you think to slip into a, oh, everybody is sad about crypto and oh, everybody is depressed about crypto, and oh, everybody’s angry about crypto, and it’s not about the oh, you feel bad, so that means you invested too much money. It just means that you have high hopes for crypto making an impact and the bear market is acting against that feeling. So, this is not anybody’s fault in particular. It’s just a matter of the mental game, right?

This one weird simple trick

Aha. Beat the bear market with this one weird simple trick. No. Not exactly, but this has helped me on the darker of days. On some days, in the morning, after I brush my teeth, I look at myself in the mirror and I smile as big as I can for 10-30 seconds straight. I know it sounds weird. I know it sounds silly, but my eyes can see my face smiling and my brain can feel the smiling muscles engaging and after a little bit, starts firing off well, I must be happy then responses. I saw this in some random article a very long time ago. It’s like, years ago, and it does pretty much work for me. Sometimes, I even start chuckling to myself because of the silly weird thing I’m doing. I think that even adds to the efficacy of this one weird simple trick. Okay.

Plug Holes in Bank Account

The bear market can erode crypto portfolio value, which I can’t specifically control, however, I realized that auto pays on services I don’t really need or use anymore erode my bank account, which I can control. So, after a quick audit, I cancelled some services that I didn’t need and adjusted the amount I paid to some others, which cut down on my monthly expenses and made me feel much better in this bear market. I feel a stronger grip on my finances now, which makes me feel much better. Simple thing, right?

Research Affordable Vacation Spots

Sometimes, it’s nice to know you can get away to recharge your batteries if you need to, however, the bear market combined with the daily grind of life has this strange effect of making a person feel trapped or stuck in a rut.

One thing crypto has really done for me is globalized me. So, before crypto, I was very focused on just what was happening in my own country. Sure, I was privy to news and such, but after crypto, my eyes are wide open to many countries and the people in them all over the world. Now I even have what I would call true friends in many of them.

The Internet did not do this for me. Social media did not do this for me. Crypto did this for me.

Well, in light of this, I started learning more about other countries and I’ve since fallen madly in love with the Philippines. It’s an absolutely breathtaking country full of proud, respectful, welcoming and fun-loving people. It has over 7,000 stunning islands featuring serene crystal clear waters, white sand beaches, endless coconut trees, volcanoes, underwater caves, coral reefs and more. Its infrastructure is advancing rapidly with growth and development, and best yet, it has an excellent exchange rate. The US dollar goes quite far in the Philippines.

If you are willing to venture from the resort style spots like Boracay, you can stay in your own spot on gorgeous beaches for sometimes 95% less money than traditional resort locales. The Philippines is also quite safe for the informed traveller. There are a few areas to avoid, just like with any country.

I have watched countless Philippines travel vlogs on YouTube by Finn Snow, Lost LeBlanc and others. Just watching these videos as they are is enough to make me feel much better overall during this bear market. I’m greeted by vibrant colors, gorgeous landscapes, uplifting music and fun adventures, adventures I could take that cost far, far less than I would have originally guessed.

Now, at this point, I’m going to share with you one of my personal aspirations with ARK and it’s a sketch for now and I understand that some people might not see the final result, but if you trust me, then you know it’s probably going to be dope, but it’s gotten to the point where I’m interested now in combining crypto education with travel vlogging to bring that uplifting feeling to everyone, especially newcomers, while also informing on crypto, how it works and how it will change the world. Simultaneously, bring the ideals of crypto around the world. Sounds much better than a dude in office or green screen head video.

I think one of the main issues we have in the crypto YouTube sphere is that there isn’t enough blending of crypto content with non-crypto content, and I also believe that the videos are not quite captivating enough in terms of aesthetics and excitement, engagement. So, when I was watching these travel vlogs, I was like, wow, this is amazing, like, you’re going over here, you’ve going over there, you’re climbing this mountain, there’s all these drone shots, you’re talking with the locals, there’s these beautiful landscapes and video images and it just was so captivating, right? But all the content was about hi, I’m going over here, hi, I’m going over there, hi, I’m on top of this mountain. So, wouldn’t it be cool to blend that captivating aesthetic and that world aspect with crypto, where I’m, in theory, I could go to the Philippines and talk about ARK, right, against these amazing visuals and aesthetics? It seems very shareable to me, it seems very followable, not to mention that the Filipino people, after doing a lot of research, really kind of reminds me a lot of the ARK community, like, they’re not a super large country, right? However, they’re a very proud and happy people and they’re always willing to help others. They’re very, very friendly towards visitors and they always have a smile on their face. So, I feel like the Filipino people and ARK would get along very, very well. So, this is just a small idea. Please don’t judge my idea too early, because I think it has some potential.

Let’s move on.

Increase Crypto Friends

As bear market began, I was a simple lurker, however, it only made me feel more isolated and separated from everyone, which just made me feel even worse, on top of bear market. So, the lower the prices got, the more I reached out within my communities, and the more friends I made. This has proven very effective. I feel like I’m part of a thing now and receive a lot of support.

So, this is like, one of the main origin stories about how I got so involved with ARK, because to me, I was like, well, I see there’s action going on and I’m not a part of it and I’m not feeling so great and I feel like if I was a better, bigger part of it, then I would feel better, and so, I, you know, started ArkStickers.com. I started sending stickers to everyone all over the world. I started writing high quality original content on the ARK Subreddit. I also collaborated with ARK community members on their community resources, things like ArkLogoWorks.com by Cam, things like ArkDirectory.com with Jorma, things like ArkForIT.com with Broadcast Junkie, and things like ArkTippr with Mark.

So, this really helped me get excited and engaged and feel awesome within the crypto community, so, I have ARK to thank for that and I’m very, very proud of my decision to become a member of the ARK community, and I’m all the more proud to now be on the ARK team and I will continue to do my best.

Earn Crypto

In bear market, it’s easy to focus on the decreasing prices of all our favorite cryptos, however, as bear market started to drag on, I eventually realized something critical. I had stumbled onto probably the largest well of opportunity to earn money on the Internet that has ever existed.

There are thousands of projects out there, many with a whole lot of funding, that need people doing stuff. They need node operators. They need hires. They need community participation. They need a bunch of stuff across multiple skill sets. I can do a thing and earn or win money for doing that thing and be paid instantly and even anonymously from anywhere in the world.

I quickly added two plus two and determined that I could earn crypto, which dollar cost averaging, boosted portfolio value and preserved fiat all at once. It’s not just about jobs or careers either. Contests, bounties, community initiatives, services and favors and node operations are all ways to earn.

So, I would like to just verbally add some thoughts here, and this is one of the, I would say, like, if there was a pie graph and the pie graph had all the reasons why I like ARK and why I joined the ARK community, the ways to earn ARK within the ARK community is probably one of the biggest slices in the pie graph for me in terms of why I like ARK and joined ARK. The way that the protocol is set up with delegated proof of stake, with all these delegates offering services, many of which including ways to earn ARK, combined with ARK.io offering its own programs, like, for example, the ARK docks bounties that I participated in, as well as other initiatives, and the ARK Community Fund, which allows anyone to submit any idea that helps ARK and gets ARK, along with ARK.io careers and having a stable team with solid funding that plans to grow their team offering opportunities to join their team, these are all things that I was like, yeah, this is the project I want to be a part of, because other people will see this and see all the ways that as a community member, a delegate or even a team member, can earn crypto, this is where I want to be at. So, I thank ARK for that.

There are so many ways to earn ARK within the ARK community and I just want to thank the ARK community, the ARK team and the ARK community members for providing all these ways to earn ARK. I think that’s going to contribute a lot to our community growth.

I’m a long time community member and recently hired agent of ARK.io. ARK empowers everyone, regardless of their aim or technical background, to quickly and easily leverage blockchain technology. I hope you get some value out of these eight tips. I wish you the best throughout this bear market and, in my opinion, if we’re not having fun, we’re not doing crypto right in the first place.

Alright. That’s going to do it for this episode of the ARK Crypto Podcast. Tune in next week for more content and interviews.

You can head over to the ArkCryptoPodcast.com to stream episodes directly and read transcripts. You can also subscribe direct on iTunes, Google Play, Stitcher, SoundCloud, Spotify and Castbox. Don’t forget to follow us on Twitter @Ark_Podcast, where you can also stream our episodes directly inside of our tweets. How cool is that? We’ll see you next time.

The only purpose of this podcast is to educate and to inform. The host is not a financial adviser and this podcast is not financial advice. Instead, you are encouraged to research ARK. Guests who speak in this podcast express their own opinions, experiences and conclusions and do not represent the beliefs or ideas of ARK.io or the ARK Crypto Podcast. A guest appearance on this podcast assumes no partnership or pending partnership with ARK.io or other ARK entity. A guest appearance is by no means an endorsement or solicitation by the ARK Crypto Podcast to purchase the specific crypto currency at a specific time or at all. The ARK Crypto Podcast will never solicit any investment from the listener nor will ever contact the listener to solicit an investment. Any paid advertisements on the ARK Crypto Podcast will be clearly disclosed as such. This podcast is available for private non-commercial use only. Advertising, which is incorporated into, placed in association with, or targeted towards the content of this podcast is forbidden. You may not edit, modify or redistribute this podcast. The ARK Crypto Podcast assumes no liability for any of your activities in connection with this podcast or for your use of this podcast in connection with your website, computer or playing device.