i get different variations of this question a lot
"what would you do now in crypto if you had a lower capital base?"
but no one ever likes my answer
i will accept that i will get a lower rate of return
the markets have matured, every metagame is more solved, returns are lower

the benefit of being small is that the amount of opportunities are larger, because there are players in the market that just completely ignore the lower end of the market
have always mentioned that this is an edge that only smaller players can exploit - this hasnt changed at all

however, the returns to expect from similar strategies employed in 2023 vs 2019 should be significantly lower iwo
and this is across the board, though the alpha decay is probably the heaviest at the top end as it becomes apparent that there's only 2 SoV candidates in crypto atm

considering people that took X risk in the past got X returns
im suggesting still taking X risk (some survived, so survival rate... is okay?) and accepting x returns
if you want to still achieve X returns now, you might need to take on XXXXX risks
not sure if this makes sense