Life in the Cryptosphere: Making Peace With Everything "Becoming Worthless"
As I have reflected on previously, the world of cryptocurrency is not for the faint of heart.
Perhaps there is no better venue to illustrate the whole concept of "making peace with uncertainty" than the cryptosphere.
Almost daily, we we get to see things go 5x or 50x in value, only to have everything erased, the following day.
Made me sit back and ponder the reality of whether — when we invest in crypto — we should do so totally with the recognition that we should, in essence, consider that money "gone forever." Because, of course, it could be.
Not suggesting this in a tangibly negative sense — and I'm actually not that much of a pessimist — but more in the sense of gaining a little peace of mind. If you have already committed to the idea that "all this could be gone tomorrow," then pretty much any result greater than zero would feel like a win.
Don't Bet the Grocery Money!
I know a lot of people in the "Greater World" are turned off by crypto for the very reason that it "seems too risky."
Personally speaking, I don't feel that it is "too risky," but at the same time I have my sense of perspective something in check: I know that this could all go horribly wrong at a moment's notice... and I have that "priced in" to what I am doing and am willing to do.
If your orientation is safety and preservation of capital then this may not be your gig.
Above all, though, don't bet your grocery money on something in crypto resulting in a specific outcome. It's could happen, I suppose, but you could also have no more than a pocket full of dryer lint by tomorrow.
And you really don't have to dig very hard to find crypto projects that have lost 95% (or more) of their value from their highs.
Heck, you can even look at something "local" like LeoFinance's CUB token, which is down more than 99% from its highs. I hold CUB tokens which I am not planning to get rid of, but I have "written them off" as actually having any value.
And that's sort of what I mean about making peace with things becoming worthless. And no disrespect to LeoFinance or the CUB family of projects... maybe someday they will become "something," since they are supported by a very enthusiastic group of people.
We can also look at many of the "great ideas" that have germinated on our own Hive-Engine... lots of "gone to zero" ventures there. I can even consider my own account "namesake," PAL tokens... at one time, my staked tokens had a value in excess of $130; now I actually have more tokens and as of this morning they have a value of about $0.61!
Some might argue that crypto only "works" if you're an active trader, constantly switching between assets and buying and selling on every rumor and promise that surfaces anywhere.
Maybe that's true, to which I have to confess that the whole gig is then not for me. I don't have the temperament to sit "with my finger on the trigger," 24/7. I'd rather just go somewhere and grow catnip!
For now, though, I am just content to only expose myself to Cryptopia with the understanding that everything could become worthless overnight... but I certainly hope for better!
Curator Cat 07-SEP-2022
Posted using Proof of Brain