I read this post by @gadrian and it just reminds me how we can very volatile as people. I wasn't onboarded into crypto by the "get rich quick" method.
If that was the case, I might have gone out. Crypto is not a Ponzi scheme, nor is it forex or lottery. Most people who are interested in these ventures believe they can easily get into cryptocurrency, only to discover that it is more difficult than they imagined.
I mean, anyone who has ever gambled would think that all you had to do was time the market, put your money in, and walk away with millions. This is why you will see cryptocurrency memes rather than lottery or forex memes.
Why?
People have been burned because they underestimate what it takes to be involved with cryptocurrency. Crypto is an emotional game. One minute you do not want to sell because you want to sell at the market's peak; the next, you are fighting for your life and removing what is left of your portfolio because you are afraid it will go to zero.
One moment you are dreaming of a prosperous future, the next you are wondering why you are constantly unlucky. People will sometimes laugh at you because you are holding, which feels crazy. However, crypto requires a diverse range of people to function properly: those seeking quick wealth, those selling at every dip out of fear, those liquidating their assets just as the market is about to take off, and even those who eventually become wealthy through perseverance.
At the end of the day, some people will succeed while others will fail. Many people believe that crypto is volatile, but this is not true. It is like watching the moon move while you are walking; it feels like the moon is following you, but the moon is fixed and you are the one moving.
My point is that people, rather than crypto, are volatile. For example, one BTC will always be one BTC, regardless of price; the one who sells loses dollar value. I understand that people require real-time money to live their lives, which is why they will regret selling at a lower price.
It does not make sense to them in the future that they would be so foolish as to sell low. However, you must see an asset appreciate before you can regret selling low.
So everyone wishes for luck, especially those who have been building throughout the bloody cycle. If you are not into meme coins, holding an asset with utility may seem like a terrible mistake, especially since people who hold memecoin are already doing x100 and making a lot of money.
It does not make sense that something without utility can easily make you wealthy even if you have no prior experience.
We are not all gamblers, so it is not appropriate to compare a memecoin maxi to someone holding an asset with utility. The former is only interested in making a quick buck, whereas the latter wants to experience what it is like to be involved in cryptocurrency while also profiting from it.
However, regardless of what we own, there are times when every holder questions their investment abilities. This is where people start to hope.
Regardless of our thoughts on patterns, permutations, history, charts, and so on. Finally, we all hope that each cycle will mirror the previous one and reward those who have worked hard and accumulated.
So, does this mean that cryptocurrency is a game of hope?
I do not think so
I believe that the possibility that a cycle will not be the same as the previous one is constant. We are always afraid that something terrible will happen, and we will all fall to zero. There is no evidence to support these beliefs; we are simply overly pessimistic when things (prices) do not improve for an extended period of time.
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I don't believe it is a game of hope. Bitcoin was built and certain ideals that hold a strong place in the human spirit. Many other projects follow that lead. There are plenty of scams and projects that may go to zero but the idea behind them will never die.
Btw, it's been fun watching your Splinterlands journey. I just bumped you up to 10k SPS. Hope it helps!
I also don't believe it's all hopes. I think the tech is meant to be solid and groundbreaking. However like you've said, we might have scams and all, especially with rugs and all that.
Thanks a million, I noticed my SPS earning went up a bit, I wasn't sure what happened until I saw your comment.
Thanks again, I truly appreciate.
This sounds so right, because many people are "volatile" in their investments in risk-on assets/tokens/stocks etc. But sometimes the assets themselves are the ones that induce volatility, not the people's changing state of mind.
Where there is hope there is also skepticism. One person is hopeful, but another can be a skeptic. I believe in crypto, the game is between idealism and pragmatism. Idealism used to be the driving force behind the phenomenon, but for at least 2 cycles pragmatism took over. Unfortunately, pragmatism is seen as a 'numbers go up' game especially by the masses in crypto, but it can be played in many other ways.
Thanks, this post was inspired by yours. I do think people are volatile in the sense that it's quite easy to sell off due to fear that am asset is zero, so people are always quick to make moves rather than have faith and trust that the market will come around. I think this is massively volatile in nature for me.
You're right, hope is not all that there is. Skepticism is that feeling that we often can't shake off. Because we cannot exactly tell the future, we're skeptical even if history is favorable to some extent.
I believe in crypto too, we all hope that someday it'll be quite better than it is..
I'm glad I was able to inspire your post. It's often what we write for, to tell what we have on our mind, and sometimes, when we're lucky, inspire others.
There are long shot gambles that are a game of hope in the alt coins, but if you have a game plan to stick with safe bets it's not about hope, it's patience. There are always Ideal time to sell to make some profit, but it you're in it for the long haul you aren't looking to sell at every peak and rebuy each valley. That's a lot stress, it can be lucrative, but a lot of stress.
I think selling high and buying low is one way to actually make profits. It doesn't necessarily mean that one has to liquidate their assets, they can simply sell a portion and come back to buy at a lower price.
Although you're right, sometimes all we can do is hope that some rebounds can happen
Great way to stress yourself out! That's why I just hold on!
Well that's true. I hold on a lot too.
I think most people are in it for the money. So I don't think they can avoid it, but I agree that one crypto token will be the same. The price when converted to fiat might be different though. The cycle won't always be the same, but I still think some similarities will be there and that crypto will be higher in the future.
You're right. Sentimentally, we all know this cycle won't be the same, but we hope it doesn't disappoint. For Hive, I hope we get a decent run.
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To me, crypto is a game of hope, game of luck and game of being able to go for the right prediction…
Well, that's another way to see it.
Don't usually know much about crypto to make useful contributions. Thank you for always educating us
Thanks for reading
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This is an interesting perspective, it's us humans that are volatile not crypto in and of itself. For the most part, I think markets just reflect our emotions and sentiments about future possibilities or present circumstances. Interestingly enough, many of us react to a reaction instead of just responding or not reacting at all.
Crypto is not a game at all, far from it. It's a very serious business and should be taken as such and most times, perseverance is what works, not the get-rich-quick mentality. Infact that's what gets people into trouble.
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