Zoom out the Bear
Are you bored of the bear market? Are you depressed by it?
I have the feeling that many among us are affected emotionally by the overall market situation around crypto. When you see the value of your tokens decrease and your work being less rewarded, it's totally normal that sooner or later it affects you. You might develop existential fears when you don't generate enough money or when the value of your savings is collapsing.
It can become difficult to stay motivated
I've been on Hive and the former blockchain since march 2018 and I have seen many ups and downs. Whenever Hive prices went down, the number of posts produced on hive also decreased. If the price of Hive went through the roof, suddenly everybody started to create content again.
I would say there is a direct relation between the price of Hive and the quantity of posts and maybe even with the quality of the posts that are created.
You build your fortune when prices are down
So what happens when prices are down and people post less content. Maybe they even stop curating. This means that the people that go on posting will get the same rewards in Hive but since there is less content, the active authors will actually get a bigger part of the pie of the reward pool. It's therefore easier to collect Hive when prices are low.
I claimed from BTC faucets when 1 BTC was 200 $
When I discovered crypto, the first thing that I was doing was claiming from BTC faucets. I often earned several hundred or even several thousand satoshis with a single claim. At the time, this was not even worth 0.01$. The people around me were making fun at me how I was wasting my time. However, I didn't really care about the value of BTC in $. I saw a new technology that I found pretty amazing and that I believed it. There are only 21 millions BTC out there and this hasn't changed over time.
Thanks to my stupid clicking, I accumulated enough crypto to create my own faucets where I could leverage my income. I then invested some of that cryto into Splinterlands and there again I managed to leverage my income.
What started with stupid clicking became more and more interesting over time. I managed to get there by not caring about the price of things.
Emotions have nothing to do in finance
The first thing I learned as a trader in a bank was to phase out our emotions. In trading you are your own biggest enemy. Your emotions make you do things that are irrational and that in the end will make you lose money.
People should realize that they have now influence over a market. There are just probabilities. In every situation there is a 50/50 chance that things go the way you plan. Chart analysis might help you to get an edge but still your chances to win are only slightly higher than 50%. Our rational side sees that but why do we feel so bad when prices don't go the way we planned? It's not our fault and beating us up because of that just makes us feel worse.
Why do you feel bad when the trade doesn't evolve the way you planned?
In order to keep your emotions under control, you have to build a construct that protects you from yourself. Try to figure out your biggest mistakes in the past and how you could avoid them in the future. Always think things true before you act. There will always be a market to buy a token. No need to fomo into it...
It's the same for us feeling bad about the bear market. It generates fears and we feel bad because we believe that we lose money. But do you have less hive than yesterday? In a way, it's all relative and you never know how your efforts will pay off in the future. The best is to have no expectations and to do your best day in, day out without being affected by the price of your tokens...
If you went into crypto it's probably also because you kind of stopped trusting fiat currencies. So why do we always measure the value of tokens in fiat???
Let's connect ! You can find me on these platforms:
Yes You are saying right. When the hive price increases the number of posts update also increases. Greater the chances of earnings.
It's when few are posting that we can earn more Hive rewards :-)
This is so true. I have learnt to appreciate this statement, when I gained a lot Hive/HP when Hive was low last year.
The big majority of people jump on the wagon when everybody is on the train already. Then it's often too late to invest. In a bear market you can buy a variety of tokens for low prices and if you are lucky, one of them will go to the moon one day :-)
Will it be LEN? Hehe!
That would be nice lol
does it because mot of us are not really losing trust on fiat, but rather trying to get more fiat by getting their hand in crypto? Well that is one way to think about it.
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I think you are right about that. Most people just say that they believe in crypto but in the end they wouldn't mind getting a lot of fiat for this crypto :-)
Money is made in bear markets. So this is an opportunity.
It is but then we need to look into the long term and just believe that one day things will turn around :-)
The faucet were the first attraction for me also. Unfortunately when I come to k ow about the crypto the BTC was already booming. But I must say I have accumulated good Doge and convert them into Hive over the time.
The low market is also an opportunity for investment, choose your favorite tokens and build your collection.
And yiu are very true less posting also means you will get less in USD but good in HIVE
!CTP
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The art is to leave the dollar value aside and just go on with the habits that we have built. Then we need to trust the markets that one day Hive will be worth a lot :-)
I started Hive when it was still riding high over $1. I couldn't have imagined it falling to these prices we have now.
I saw hive prices at 0.12$ and I thought they would never go up again. Then they were at 3$ and now back at 0.35$... Where it will be tomorrow??? I have no idea ;-)
Six years ago I found this blogging platform. And since then I have been writing what happens to me on a regular basis, regardless of the value of the crypto, I am more limited by the time I have available.
But it is true that when Hive is worth more, then I am worth more. It's a kind of satisfaction. But, lately, we're all vegetating more together...
That's true and it's difficult to deal with that. Every month inspite of powering up a lot of tokens, the value in $ of my wallet stays more or less the same. On the other hand, I just want more Hive and that's it :-)
Take a look at this https://app.dhedge.cc/earn
When taskmanager (@archon) starts something then it's huge. Delegate multiple HE tokens and earn daily passive income.
Thanks, I will have a look!
Oh, being in crypto 95% over anything else is painful at this moment... I remember very well the last painful bear market in 2018 that I "survived"... It wasn't pleasant at all, and I said that I will not allow the same happen again... Well, I wouldn't say that I have failed (lol), as it is a bit better now... I learned some basics about not selling low, HODLing good tokens, etc... but still, it hurts to see the token value going down, even if you don't "convert" them into fiat value... If you have to buy bread, it is more expensive in HIVE too...
Anyways, every bear market is a good time to accumulate tokens, that's for sure!
Bear markets are hard if you need to live from crypto and it's easy to say not to worry about prices. As you said we need to buy bread and it's getting more expensive :-)
Very well said! I noticed that we suffer more in our minds and emotions than in reality during the bear market. If we could just forget about the fiat value and focus on the tokens then most of the suffering will disappear. But it's really a work in progress for our brains are hard wired to keep an eye on the dollar value because that's the only way we know to measure things :)
It's not easy to accept that our tokens are worth less than before because in our subconcious we always evaluate the value of it in a denominator that we know and unfortunately it's often fiat currencies...
Who knows, maybe over time it will change because fiat is becoming less valuable these days. But it will definitely take a lot of time before our subconscious adjusts to it.
Oh, salt in the wound) In fact, I had already forgotten when there were pleasant surprises about cryptocurrencies. I guess it upsets me more. In the mix with the economy and war, it's a full house of aces and jokers.)
!ALIVE
!invest_vote
@achim03! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @stdd. (15/20)
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There are a lot of negative vibes around and it's difficult to keep smiling... Let's not forget to do it all the same ;-)
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very good advice. I find it really effective. It's what I do already LOL! If I focus on the value vs fiat, I won't be as motivated to post at least once a day. :P thank you for your insights esp. about emotions when investing or trading. We can't control the market unless we have a majority share in everything :P well, I'm waiting how it all unfolds. For the meantime, it's not a bad idea to have fun while waiting it out. Happy week ahead!
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I totally agree with that. If we focus too much on the prices we just get depressed instead of trying to have fun while we do what we do :-)
I don't look at Hive's value in terms of fiat almost at all, as I don't care! I actually like it when Hive is low, because that means I can get more of it! 😁 🙏 💚 ✨ 🤙
Made in Canva
That's a powerful sentence.
We often look at the total assets' value in USD but we forget that we have the same amount/number of assets before the price drop.
Wonderful post, Achim Beda!
#aliveandthriving
You never know how much value will be in a token a month from now. The more tokens you have, the more potential fortune you have :-)
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STOPAll the people who are using the craze at the moment are very worried and tired because it has been a long time and they are seeing their money dwindling and some people who are more afraid. They sell their stuff and they never make a profit. This is the time when the market will be moved up and down so that the people who are there sell their things within the market.
Fears are always part of the crypto world. Some people are affected more than others...
Spot on @achim03! I've been here every day building, growing, and saving, posting, and engaging, regardless of what Hive's value is in relation to fiat currencies. You said it exactly, why do we measure Hive's value in fiat terms? I don't. Learning to leverage our assets is very powerful, and something I've been learning here more and more! Hive will explode at some point, and I'll just keep chugging along, building, growing, and saving! 😁 🙏 💚 ✨ 🤙
Even if hive doesn't explode, there will be times when it will be worth more and then we will be happy that we have more of it :-). Thanks for your nice comment!
Indeed, very true! For me the Hive Blockchain Ecosystem has so much inherent value that in the short-term I'm far more likely to add assets from outside than I am to remove assets, and I would only remove assets when I get to a point of being able to live off the dust of my account. 😁 🙏 💚 ✨ 🤙
the bear market have affected me because all my earnings are in crypto and right now are lower in comparation to other times.. but i know this wont last forever and soon we will be earning a lot!
I know the feeling :-) but in the end we don't own less crypto. It's just that we value it with fiat and there lies the problem. But of course we all need to buy bread and we can't pay that in crypto yet :-)