Can trading with Bitcoin and Co. make you ill?

BTC-ECHO: In 1994 you were Vice Queen of the Onion Market. What tips would you use to coach your younger self to victory today?

Cornelia Borisch: First tip: cut faster (laughs). Second tip: Don’t see the defeat so dramatically. I was 17 years old then. That nibbled at me. In hindsight, it made me stronger. Imagine: You always win. God, how boring would life be? you never grow

Are personal setbacks essential for personal development?

In moments like this you might feel like a loser and think: I can’t show my face anywhere anymore. But failure shows you where you can improve. I have climbed several mountains in my life. I didn’t always get to the top the first time, because of bad weather or lack of physical condition. I could have said: I failed. Sticking with it gives you clarity, self-confidence and assertiveness.

You mainly coach established entrepreneurs and executives. What ailments is the business world dealing with?

People often face a dead end when they come to me. Climbing the career ladder falters. Mishaps or accidents are frequent. Then the bank terminates the loan. Some struggle with their problems alone for years. At some point, emotions can no longer be hidden. Some become aggressive towards their employees, others withdraw completely. Life tells them, ‘This far and no further.’ You hit a pillar with your car or your partner unexpectedly separates.

Are professional and private success compatible at all? Or will you inevitably fail if you try to get the maximum out of both?

You can’t always have a 100 percent view of every area of ​​life. Usually you prioritize something for a certain time: a move, the wedding or a big project at work. But I have to ask myself every day: Is that still correct? Can I do that at all? What do I delegate?

Relationships and businesses often fail due to a lack of communication. You don’t talk about your wishes and the opposing ideas. Often people are not even fully aware of the problem. They cannot define their feelings. Conflicts are hushed up and smolder subconsciously. This also has a lot to do with shame and patterns from childhood.

How often are your coaching requests connected with money worries?

About 70 percent of the cases. Almost everyone has the feeling that they don’t have enough money – no matter how rich they are. Actually, they want to earn more. But they have internalized beliefs that are holding them back. Be humble, don’t be selfish, money stinks, rich people are antisocial crooks. It usually takes a long time to break open.

How important is money to you?

I don’t denigrate it. Ultimately, however, it is secondary. Many people think money makes them happy or free. Is that so? You’re either already happy and rich inside, or you’re not. Money is a means of payment and shows you where you are in your consciousness. You can use it to advance your visions and do something good for people, which many people forget. But we give it too much importance. And no longer take responsibility for our own happiness.

Rising inflation, unaffordable real estate, stagnating wages: today it is more difficult for young people to build wealth than it used to be. Is that why so many are betting on crypto?

In this crisis, everyone is asking themselves: How can I still maintain my standard of living or even improve it? Krypto promises: ‘You can go from zero to a thousand.’ We know that it doesn’t always go that way.

Do you know people who got rich with crypto?

Yes, there are some around me. I also made a lot of profit myself.

How has wealth changed the lives of these people?

I have a friend who really only earned 800 euros net until she was 50. Suddenly she had a five-figure sum every month. Many are totally overwhelmed by this new situation. They then fulfill three or four long-cherished wishes. Usually it’s a new car, a bigger apartment, a few trips. Then they’re faced with the question, ‘Oh God, what do I do with all the rest of the money?’ You have to deal with completely new things.

Can a sudden windfall also disappoint?

Some let Croesus hang out. The new Porsche is being driven through town with the window down. Look how horny I am. They want recognition. And fall into a deep hole after a few months. Your inner emptiness remains, despite luxury hotels. Personal development is not addressed.

I then advise such people to do something meaningful with their money. Above all: to support others. This can also be friends and family. There is a whole different joie de vivre. When I give someone a present for their birthday and see them beaming with joy, it enriches me as a person from within. Here lies the real wealth in life. And you don’t need a fortune for that.

When did you first invest in crypto?

That was four or five years ago, a very negative experience (laughs). I fell for a scam and lost a six figure sum. I thought my life was over.

What does it matter to you when you lose that much money on a scam?

It triggers a deep shame. Who can I tell that I built such a bullshit? I know that from other people that this has happened to. They withdraw completely. In the worst case, they kill themselves.

How do you find your way out of a situation like this?

The most important step is to talk to others about it, to share your insecurities and doubts. If you can’t find anyone close to you to talk to, seek professional help.

When you open up, something awesome happens. You meet people who tell you, “Oh, it happened to me too.” I’ve interviewed so many people from every income bracket to billionaires. Everyone has lost money in some way and knows this state of shock. You are not alone.
This realization takes away some of the shame. Then you have to ask yourself: What am I learning from this now? Only then will you become strong again inside. In the end, you can walk away with your head held high and live your life again.

Do executives also have to be a bit “gamblers”?

Maybe not necessarily gamblers. As a leader, I often have to make decisions without knowing exactly what the outcome will be. And stand by it. That requires sovereignty and courage. For example, let’s say you are leading a group up a mountain. The summit is within reach. But the sun will soon be at its zenith. You know you have to get down now if you want to get back safely. The others have been training for this moment for a year. They want to go there.

Now you have to tell them, ‘We’re turning around.’ Not everyone sees that. Discussions ensue. You still have to stand by your decision. Even if everyone is against you. Many people have a great striving for harmony and are afraid of such decisions. But that is not possible as a leader. Doing nothing means standing still. That’s death for a team.

The crypto market runs 24/7, the prices go on a roller coaster ride every day. Some people trade non-stop on their smartphones – sometimes losing their entire fortune in the process. Can crypto trading also take on pathological features?

Often there is a deep fear behind such compulsive people that they will lose. Your whole thinking revolves around it. That’s why they constantly look at the courses: if their share or cryptocurrency falls, they fall into a depression, start to tremble. Then they sell out of panic, the worst mistake ever.

So the key to success is having access to your emotions and keeping them in check?

Emotions belong to us. But don’t let them overwhelm you. So many people make their decisions out of fear or greed. Then they say, ‘Crypto just doesn’t work.’ They got into it with too much enthusiasm, without the right strategy. This just goes wrong.

How do you get out of such emotional states?

When we have strong emotions, we get forced breathing. There is a lack of oxygen in all organs, including the brain. So I don’t have my full capacities at my disposal. Take two minutes, breathe deeply in and out. You will automatically become calmer. Your stress level goes down. What also helps: mood changers. For example a song that gives you lightness. You quickly see the situation differently. Then you can ask yourself: What is actually happening here? Talk to a good friend or colleague you trust. How does he assess the matter?

What can I do to avoid getting into such a situation in the first place?

As the saying goes: Long Term Profit over Short Term Pressure. You need a strategy to stick to. And relentlessly. Otherwise you only react to the market with its blatant fluctuations and lose yourself in these spirals of greed and fear.

Ask yourself: where am I drawn to, NFTs, blockchain or gaming? What do I have a point of reference for? What do I want to deal with more? Many of my clients just want the money. But that’s not how it works. I can’t become a high-performance athlete and collect medals if I don’t train.
The best thing to do is to research and reflect on the areas that you understand. Look for the projects there that promise a high return on investment. And hold your investments for three years, at least.

To person

From Vice-Zwiebelmarkt-Queen to Germany’s top coach: Cornelia Borisch, born in 1976 in the small town of Weimar, started her career as a coach in 1995, when she was still working in the chemical industry. Since then, the “summit climber” (Focus) has advised almost a thousand people. She founded her first own company, Cornelia Borisch Coaching, in 2014. Two years later she published the book “Stolpersteine ​​im Arbeitsleben”. On average, she gives over 83 coaching sessions and 150 workshops per year. She has also climbed three mountains in her life. Her motto: “Crises are the greatest opportunities in our lives.” Borisch accompanies freelancers, executives and founders. It doesn’t matter whether they are at the beginning of their journey or have long reached a dead end. Their customers include Adidas, Edeka and Deutsche Welle. All information can be found on their site.

Disclaimer: This interview previously appeared in the October issue of BTC-ECHO Magazine. All issues are available in our shop.