Are You Odysseus or a Suitor?

The wind is at your back. The waves rise and fall beneath your ship, carrying you toward fortune or ruin. You set sail, eyes fixed on the horizon, dreaming of Ithaca—your own land of financial freedom, the place where riches are secured, where the long nights of uncertainty finally pay off.

But the sea is treacherous. Monsters lurk beneath the surface. Sirens whisper of easy gains. Greedy crew members might tear apart your ship before you even reach land.

The journey of Odysseus was not unlike the voyage of the crypto investor. Both must endure storms, illusions, betrayals, and distractions, and only those with patience, cunning, and discipline will return home victorious.

So, the question stands: Are you Odysseus, or are you one of the suitors—those who wait idly, chasing indulgence, only to be swept away when the true king returns?

It was great to study Odysseus’ ten-year journey home and see how closely it resembles the rise, fall, and survival of digital assets. The myths of the past continue to play out in new forms, across the ever-changing seas of technology and finance.

The Plunder of the Cicones – The ICO Gold Rush

Odysseus and his men stormed the shores of the Cicones, drunk on victory after the fall of Troy. They looted, feasted, and ignored the warning signs. They had won, why leave so soon? But their greed kept them ashore too long. The Cicones struck back, and many of Odysseus’ men perished before they could escape.

It was the same for those who rushed into the ICO boom of 2017. In those days, coins rained down like plundered gold. Ethereum projects launched overnight, promising wealth beyond measure. Greedy traders stayed too long, ignoring the warning signs—the scams, the unsustainable models, the whispers of a coming collapse.

And then, the counterattack. The market crashed. Regulators swept in. Scammers vanished into the night. Many who had once celebrated were left stranded, their war chests empty.

Odysseus knew better than to mourn what was lost. He adjusted his sails and pressed on.

But many traders did not. They were still waiting for the next feast.

Early wins can lead to overconfidence—know when to take profits and move forward before the tides turn.

The Lotus Eaters – The Lure of Meme Coins

Not long after, Odysseus and his crew stumbled upon an island where the Lotus Eaters lived. These people had given up on the journey. They spent their days indulging in the lotus fruit, forgetting their mission, forgetting home.

Odysseus’ men took a bite, and they too forgot why they had set sail in the first place. They wished to remain in bliss, eating, drinking, never moving forward.

Crypto had its own lotus fruit: meme coins.

Traders once focused on sound investments found themselves chasing Shiba Inu, PEPE, and countless others, drawn in by the intoxicating highs. Every morning, they checked charts, hoping for that one green candle that would set them free. But they had forgotten Ithaca. They no longer cared for the journey—only for the next taste of euphoria.

But Odysseus did not let his men stay. He dragged them back to the ship and set sail.

And so too must the wise investor resist the temptation of easy distractions—for those who linger too long will never reach home.

Chasing temporary highs can derail long-term success—stay focused on the bigger picture.

The Cyclops – DeFi Outsmarting Traditional Finance

Then came the island of Polyphemus, the mighty Cyclops.

A beast of pure strength, ruling his land without challenge, Polyphemus devoured intruders without mercy. Odysseus and his men were trapped in his cave, unable to fight him head-on. But brute force was not the way forward—wit was the key to escape.

Odysseus gave the Cyclops wine, dulled his senses, and when the time was right, he blinded the beast and escaped under the bellies of sheep.

It was a moment of triumph—but his arrogance cost him. As he sailed away, he taunted the Cyclops, revealing his true name.

The enraged monster called upon his father, Poseidon, and the god of the sea cursed Odysseus' voyage, ensuring years of suffering.

This was the story of DeFi vs. Traditional Finance.

Banks—the Cyclops of finance—had long devoured traders with high fees, slow transactions, and centralized control. But then came DeFi—Uniswap, Aave, Yearn Finance—projects that offered a way out. Like Odysseus, these platforms outsmarted the old giants, slipping away under their noses.

But hubris led to disaster. Greedy DeFi projects, blinded by their own success, built Ponzi-like systems, launching high-yield farms that could not last. And then came the great collapse—Terra/Luna, Celsius, the liquidations that rocked 2022.

The gods had spoken. The sea was once again merciless.

Innovation can overthrow giants, but arrogance can invite destruction—stay humble and adaptable.

The Suitors – Who Will Remain When the King Returns?

At last, Odysseus reached Ithaca.

But his home was not as he had left it. In his absence, greedy suitors had overrun his halls, feasting on his wealth, vying for his queen. They had not fought. They had not sailed. They had waited, convinced that he was gone forever, that they would rule in his place.

They laughed when the old beggar—Odysseus in disguise—picked up his bow.

Until he strung it with ease and rained down arrows upon them all.

And so, too, do we see this in crypto.

The true believers, the ones who have suffered through storms, who have held strong in the darkest nights, they remain.

But the suitors—those who arrived only for the feast, who never endured the storms—will be gone when the king returns.

Bitcoin will rise again. The markets will return. But only Odysseus will see Ithaca.

Only those with resilience and patience will survive the full cycle and reach financial freedom.

Final Reflection:

Studying Odysseus' ten-year odyssey and seeing its resemblance to the rise, fall, and survival of digital assets was a journey in itself. The myths of the past are not relics—they live on, reshaped by new markets, new technology, and new trials.

The lessons of Odysseus apply as much to sailing the seas of blockchain as they did to navigating the waters of ancient Greece. The journey is long, the tests are endless, and only those with the patience, resilience, and cunning to endure will truly reach Ithaca.

So, are you Odysseus, or are you just another suitor waiting for an easy feast?