What Actors Can Learn From Cryptocurrency

By: Eddie Ramos | Feburary 9, 2022 5:45 PM

Hollywood is bullish and has been embracing cryptocurrency even though it still remains a widely perplexing topic. Are there any worthwhile lessons actors can learn from the digital currency?

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You Don’t Know Which Coins Will Pay Off? 🚀

Therein lies the hiccup! Crypto enthusiasts will tell you that their coin is a “whale”—destined for greatness—such as the Squid Game-inspired coin, which soared up 23 million percent and is now worthless. Determining which crypto is going to make it “to the moon” takes serious tenacity and a dash of luck amongst other things.

Similarly, an agent or casting director can try to accelerate an actor’s star power. This method of favoritism has been prevalent in Tinseltown since the beginning.

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They can speculate box office results and make sure the table is stacked in the actor’s favor, but even then nothing is certain.

Many actors have seen meteoric rises to the top only to come crashing down in a flash, sharing a striking resemblance to the “pump and dump” phenomena of crypto.

The best thing for an actor to do to stay above the fray of volatility, is to keep working hard. As a practical tool, actors should mimic stock traders’ spreadsheets to analyze their progress.

You can track your auditions, call-backs, and how many jobs you’ve booked on a simple Google sheet. Using this data you can replicate certain patterns to achieve success time and time again.

HODL (Hold On For Dear Life)

The origin story of this crypto slang can be traced back to this hilarious 2013 Bitcoin forum post. The drunken writer wrote “ I AM HODLING” when he meant to say “holding.”

The irony isn’t lost on actors. In an industry that is often compared to a rollercoaster ride, acting isn’t for the faint of heart.

One of the main principles of investing in crypto is to buy and hold. In other words, sit tight and wait. The biggest winners of the Bitcoin craze were those who invested early and forgot they even had them. They rode the wave all the way to the top becoming self-made millionaires overnight.

Actors should use this same mentality and ride the waves of their careers without bailing when the going gets tough. Many of my friends from theatre school quit acting only one year out of school. As the protected bubble of college begins to fade away, it’s easy for young actors to slip into panic mode as they enter the real world.

This is totally understandable, but one begins to wonder had they held on a little longer — would they have made it through the natural adjustment period and learning curve?

According to a recent study by Queen Mary University of London, only 2% of actors make a living. So how can you avoid being the unemployed 98%?

Hold on for dear life.

Make acting your everything. Get into classes and read tons of acting books. Make yourself more than just a day player waiting for a job, by understanding how you can bring value to a showrunner or producer. Read articles on Deadline and Variety to stay up to date on current events in the entertainment industry. Be willing to make small adjustments but don’t throw the entire plan away. Stay focused on the path ahead of you and brace yourself against any potential storms you will face.

Read More: Financial Wellness: Can I Have A Full-Time Job And Pursue Acting At The Same Time?

Keep Your Crypto Safe 🦡

This advice may come off a little bit tongue and cheek. But there is some value to it as well. Crypto investors have read the horror stories of what can happen when you don’t keep your coins safe. Just read about this guy, who has spent the last 8 years digging through his local landfill to find a missing hard drive that stored his Bitcoin—half a billion dollars worth.

It’s really important that actors keep themselves safe as well. In a business where strangers can sell you the world, it’s imperative for actors to watch their backs and not get “rekt”.

It’s really easy to fall for the “snake oil salesman” when they are promising you the lead in the next Marvel franchise.

Enough isn’t talked about regarding dishonest characters who prey on unassuming and naive actors. Don’t think seasoned actors are not getting scammed just as easily as their “green” counterparts.

Everyone should be careful of greedy coaches making ridiculous promises or agents and managers charging more than 10% commission. Other “actors” can also be detrimental to your success. We’ve all been around those friends who pray for our downfall. So protect yourself.

Final Thoughts

Cryptocurrency is still a speculative and volatile investment. Actors should take the investment lessons from crypto and apply them to their own acting careers.

By taking the time to invest in yourself, you can increase your health, happiness, and income.

What are some lessons actors can learn from Cryptocurrency? Comment below!