The Get-Rich-Quick Schemes - Shitcoins Vs The Metaverse
We all want to get rich, especially here on hive; I can't lie that reality is more obvious and transparent.
Getting rich has never been easier in my perspective(with experience from my time on Earth), and by applying absolutely plain English and rules that anyone can follow if they have the desire to get rich AND acknowledging to learn a few things (most obviously transacting platforms such as Hive, Dapps, Binance)
What am I talking about?. Well certainly my title says it all, does it not? Getting rich from the Cryptocurrencies, Blockchain, NFTs, Play2Earn, Metaverse Space, call it whatever, but you get the drift.
What was going through my mind 2 weeks ago was absolutely crazy (not to imagine, just the idea of it). I was thinking back to my high school days when I was in my final year? I remember how we were all working hard, learning, studying, respecting our teachers because they knew better, striving for the future, our end goal - To get rich and achieve our goals with our skills. Now I realized that It's a fucking long road, and here in Africa NO doubt that road might be longer!. And it's not me trying to be biased or cliche because simply - When there are more obstacles, limitations, basic necessities unmet that stand in the way, It perhaps takes you twice the time to first plow through those hurdles, then advance into the world of opportunities before you can STRIKE!.
Then I was overjoyed when I thought about the current state of the world and the budding metaverse, In relation to Kids across the world as I was back in high school. Because Wow, it turns out that the VALUE of Being Rich would actually be on a downward trend. Anyone can be rich, And in the best ways possible;
- It is fully Legal
- The resources can be spread equally across all continents. Limitations exist but that gap is significantly lessened.
- Your goals are not tampered with, You can achieve your goals in a grander way AND you are literally doing the Simplest(NOT Easy) skill ever; Buying And Selling
The Get-Rich-Quick Parody
Certainly, this is a scheme that has never appealed to people throughout history(at least, "sensible people", because we feel that, Riches should Equal Hardwork/Effort). Well, since everyone is entitled to share an opinion, I'm gonna give mine; What do people have to say about the current state of things in the Metaverse? How can you judge who becomes Rich and how fast they achieve that status, well you can't. We are all gamblers, betting our time, and investments on chances of the future. And if that scores, There are some Winners and there are also Losers - And I do applaud them for that, even if it's overnight riches.
At the same time, Let's not also forget that there are losers in the Music, Movie, IT, Sports Industry - Literally every freaking industry out there. The top players take the biggest chunk of the pie, and the remaining are scattered for the losers to grab at. And what is most unfair of all, is that this divide might not(often) be based on Skill - easy as that.
The Crypto Industry is More Balanced than Any Skill/Finance based out there (Everyone has a chance)
We are all gambling with information and chances shaped by the future events
There are Winners and Losers, Like every other industry out there, Why crack our Heads over the WInners?
In reality, the only thing I had to be bothered about if I was an overnight success, would be how to forget about all that money and continue to achieve my dreams. LOL, everything else is taken care of, isn't it? At the end of the day, that's my problem, not yours. And that's right because that's not a problem for most people, what they do care about is That Guy/Girl who might flaunt their cash, and live higher than their means allowed 2 days Ago xD. And well, portray a superficial sob for the Losers Meh!
Shitcoins: My experience with Shitcoins
I've spent my fair share of time deliberating on the best way to higher my returns on investment. I like to feel that I'm smart and if I think hard enough, I'm gonna find a loophole that can scale it (yeah, I mean investment). I have been reminded now and again though, that no such thing exists - at least in the plain view for me to find. You need to literally grow your wallets through some ascending trajectory; Higher Investments, Compounding tokens, Mooning Prices - All that kind of stuff.
Well, Shitcoins are in the Plain Sight and they definitely tell a different story. Just last month, I think that's when Shiba Inu, the most popular Shitcoin Scaled massively in both Volume Traded and Accounts Holding. And well, just a couple of Hours Later I saw several posts here on Hive, by top accounts and finance experts, sharing their opinion of the massive run of Shiba. The summary being that - It is Useless and they Have no Respect for it xD. From here onwards, it is a bit hard to progress for me - By trying not to totally reject their opinions and at the same time wrapping my point around Shitcoins Investment vs Metaverse(as I see it).
Take the following instances, narratives, etc as an example;
Shiba Inu as I can remember doubled on May 7 - I first came to learn about this Crypto coin in April when the need to make money took me like a storm. It doubled right under my nose, and I sadly wasn't invested in it. This same event happened around September 7, I was left thinking if 7 is not the prized number and getting ready for the next couple of monthly 7's. Well, just getting into the Crypto space, I yet didn't take my chance; Lack of familiarity and Confidence using the Platforms Concerned and a Lack of Spare Cash.
Well, If I had invested during those two doubling events, I'm seriously gonna be on a different level right now. I would have been a winner, but does that mean some other folks might have lost? - that's not the most likely event, because, at the point where I'm selling off some coins, others would be buying and maybe go on to sell at a future doubling event(2x in value) of Shiba Inu, when more people at still buying.
"It's useless because it is a shitcoin", I thought NFTs hype was the most useless thing yet to occur in the crypto space?. NOT Art BUT the prices these arts were selling for, including the number of lazy arts that were auctioning for crazy prices. No one thought this was useless, it was time for a new mega bubble and it was fine to follow the tide. Now that that hype has sunk, we now see how valuable it is for creating content, images, assets that can be sold as NFTs.
Dogecoin was(is) a shitcoin, literally, it was developed to be a meme and people were (back when it was worthless) invested crazily in it. Now I heard that there's an infrastructure being developed around it to aid transactions payment with Doge, and all of a sudden it now makes sense - It's no longer a shitcoin?, Pft.
My point is, the Crypto Industry has taught me that people can get rich in crazy ways, it's a rule I should keep in mind as I interact in this space. The border-line of Useful, and Useless is grey area, and further, people shouldn't also confuse Useless Use cases as being useful. A lot of cryptocurrencies, digital currencies, and infrastructure slap a use-case on their models but in reality, this doesn't help to solve any existing problem and is literally bland, I can't mention names, because they are literally everywhere. The reason your preppy neighbor hates crypto is that it isn't a conventional space like what they learned at school, so why do you force it to be?
The Metaverse; Are you Still Waiting (Moon!)
The metaverse has been used to mean many things, I use it to mean the entire blockchain space and things built on it. It seems like the proper collective name for it, Not so?
Coming off from Shitcoins, I wanted to portray an idea on how people view the metaverse. The metaverse consists of ways to make money from home, Play2Earn Gaming, NFTs as an Artist/Collector, Buying and Selling Crytpo, and many other distinctive features it consists of.
Let's take these instances to again solidify my idea here;
Last two weeks, I was on Dapprader studying the charts, looking for any abnormal lines and I came across a certain Play2Earn game called Cryptomines which ranks Number 3 on the average Users in 24 hours, above Axie Infinity. I decided to check it out, maybe become an Early Adopter? And I discovered something absolutely crazy, Just in September, the CryptoMines token called Eternal was trading at 0.4 dollars in September, and in November, that same token traded as high as 800 dollars??.
All those who invested are massive winners already. The same can be said for Axie Infinity but certainly not in the same Magnitude or time frame, Axie Infinity AXS was also 0.4 dollars in January and now trading steadily for over 100 dollars presently. Can't the same be said for The Sandbox?.. And that's how the trend has been for most Play2Earn Games, just one subset of our entire Metaverse Focus. What do we call this?
Surely, when Crypto Miners, was .4 dollars it wasn't useful at all, in fact, on loading the browser the game seemed like no game at all, the site was glitchy and all of that, but there you have it.
Everyday People are Earning (for some, a living) from Axie Infinity. Just a Game, but because of the economy and finance distribution, this has been possible. Well, the majority of the folks on Axie can agree that the game is simply NOT fun, but then it gives incentives.
I can't complete this without mentioning our very own game here on Hive; Splinterlands. As can be seen in almost all Play2Earn Games, the early adopters have an easier time to get in and earn rewards, whether as a result of the cheap initial investment, undervalued tokens, lack of competition among daily active players(low numbers), etc. In splinterlands, surely it can be agreed upon that those who started playing during the 2019 seasons were off to a better start especially for the reason of cards being very cheap and building a suitable strong deck was easier. Now with this year's explosion in popularity, Splinterlands cards and assets have risen exponentially in value and are now being traded at the expense of new players.
In general, we can see that the same process exists everywhere where Gain is to be earned in the crypto space, whether it's in Shitcoins or Metaverse applications
Trying to draw a line between these two methods of investment is because they share a lot of similarities except of course (1)You actively play and invest your time or efforts, you might also derive playing pleasure, (2) and the other, you simply hold and wait for an increase in value
Luck, Persistence, Goals, AND Riches
This post is purely designed or thought up by me as logical, hence I do not want it to divert from that notion. But I feel that I should support the opinions I've shared above, so as not to be Misjudged or Misguiding for YOU. You see, In almost everything that we do, I believe there's a certain amount of Luck that acts along with that action, either in or against our favor.
For Example, When I talked about Investing in Shitcoins, What I did not mention is that they are extremely risky events to indulge, the fair idea is that these coins can literally be dumbed anytime since it (they) have no use case. There are a lot of pumps and dump shitcoins projects around, especially those you find directly on Reddit and Twitter. So I mean, take note of these and I wanted to say that I also have it in mind.
On the other hand, we can also mention lots of rug pulls Play2Earn Game Projects that have successfully scammed users, the most popular being CryptoBlades. So for all the guys who have made it big on Splinterlands, some might claim that their judgment in sticking to Splinterlands is what WON for them, BUt we can't ignore the fact that a lot of lucky situations and events helped push Splinterlands far to success; The most obvious being the Hive Community. And predicting every one of those successfully to make a judgment is impossible(just).
The Metaverse is a budding space that I strongly believe would go on to make a lot of Millionaires, including those with no chance of ever becoming one, AND I am super enthusiastic and happy because of these. Maybe because I've come to realize that having money is one thing, but there is more important stuff that regardless would still require persistence to attain, Luck alone cannot take you to your Dreams. So I feel that everyone has their reasons for being in the Crypto space; Maybe to earn money through investments, to build blockchain applications, to earn money for investments in other fields, to share their knowledge about finance, Or the combination of countless goals.
Thanks for taking the time to read,