Living on 'Blockchain Time' - Navigating the Headwinds of Turbulent Crypto Prices
After all, it wasn't that long ago when Bitcoin hit $100, then began a rapid descent where everyone thought the sky was falling on this nascent token. The thing is, after awhile, you tend to develop a thick skin about all of this and can look at it from a higher viewpoint.
To me, observing crypto prices is like watching roiling waves crashing together in a boundless ocean. Up close you witness the terrifying swell of turbulent waters, but step back some distance, and the big picture of the entire Gulf Stream comes into view.
In short, perspective matters...
Now, that's not to say you shouldn't tack your sailboat to avoid the 'no sail zone' to stay on one side of the wind. Doing your due diligence allows you to use the information you've gained to help navigate the rough seas ahead.
The point is not letting a temporary storm cause you to miss out on a potential windfall down the line. This is why taking a long-term view when it comes to cryptocurrency, tends to serve us better then to cut and run every time the wind picks up. Sailing smartly, we can use that gale to propel us to our destination.
Living on 'Blockchain Time'
Keeping all of this in mind, I refer to what I call 'Blockchain Time' which means we've only been dealing with this for just over 10 years. Taken in context, we're really still in the very early days of this new technology. Remember $200 ETH? $0.13 HIVE? Both of these were very recent developments. Those who recognized the fundamentals behind each of these tokens and accumulated when the price was low, are being richly rewarded now.
So when I hear the term "crypto slump" or crypto winter" my attitude is that the underlying technology has proven itself and isn't going anywhere. Fear, uncertainty, and doubt have no place here. They only serve to frighten the weak hands away, just when Fortune comes knocking at their door.
I can still remember that first Bitcoin faucet. I'd been led there after browsing the crypto forums after hearing about this guy named Satoshi Nakamoto, and realizing that what he'd developed had the potential to change the world.
Gavin Andresen opened the first Bitcoin faucet in 2010, which offered 5 BTC for free. I was newly unemployed back then but saw this as a harbinger of the future. Grabbing my mouse, I clicked through, received my first crypto, and have never looked back.
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If it is one's first rodeo, this can be very scary. However, for those who went through the last crypto Winter, just another day in the park.
Long term focus removes a lot of the emotion and worry.
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Indeed. I can still recall wondering back then if this new "Bitcoin thing" wouldn't be considered by the government a counterfeit currency and have the whole thing shut down.
However as time went by with no action taken, I jumped right in. I reasoned the blockchain might have some use in banking and other financial institutions, and we'd be intrenched before the "powers that be" took notice.
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There were certainly concerns people had along the way. In fact, they still do. However, as we keep expanding, the ability to stop what is taking place diminishes. Each day there are new projects showing up. That is what is the game changer.
We keep developing and innovating.
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