Welcome to another Nugget of Wisdom! A free post I send out once a week. These are designed to be short and sweet, a quick read to (hopefully) impart some sort of wisdom, or at the very least to get you thinking about something interesting.
This post is sponsored by Oasis Vault
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The best alpha group is a group chat with like four friends
There’s a lot of talk about “alpha groups” in crypto. What’s the best group to be in? Who runs the best group? How much does it cost to join? What most founders of these groups won’t tell you (because it hurts their bottom line) is that the best possible alpha group is a simple group chat with a handful of friends.
You don’t need a discord server with 47 channels including 15 bots that alert you every time a KOL tweets. There’s a time and a place for incorporating bots and sophisticated tools into your trading life, but they’re overkill for 90% of people and overkill for 100% of people who are just starting out. Too much information leads to information overload and overwhelm.
A group chat with a few friends is what you need. Something where you can banter back and forth with one another, where you can share great opportunities and not feel worried that you’re massively diluting the rewards and hurting yourself, and where you genuinely want the other people to win as much (or at least nearly as much) as you do. Where you all make money together, or lose money together, and are happy enough either way because misery truly does love company.
One of the benefits of a group chat is that it helps balance out the fact that you can’t catch everything (and you don’t want to try). You can focus on your own one or two areas, while some of the others will be focusing on things that you’re choosing not to. Occasionally there’ll be some incredible opportunity they share and you still get to reap some of the upside from that area while not spending a tonne of time on it.
If you don’t have friends to create a group chat with, make them. It is not hard. Despite the sometimes scary facade of crypto, we are generally a very friendly bunch. We are all connected by this love of blockchains, of a new world order, cutting edge technology, of a new financial system, of new opportunities.
You’d be amazed at how quickly you’ll make great friends in this space by simply reaching out to people and saying hello.
Do it on whatever social media platform you prefer, do it at conferences, do it here, there, everywhere, anywhere.
A neobank is a digital-only bank that operates entirely over the internet, without any physical branches or locations. They’ve been around for over a decade, and have only grown in popularity and adoption as time has gone on.
