A Smooth Sea Never Made Good Sailors: My difficulties with the Blockchain register

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Getting started sometimes seems strange and hard but it sure beats remaining in one position. I am constantly developing an interest in all things crypto and blockchain, and also enjoying all this new information I have to gobble up to be able to keep up. What always seems to bother me is the register used on these platforms, most of what is said are mainly in acronyms or a crypto lingo that constantly gives me a headache trying to understand, but in the words of Roy T Benneth;

Your hardest times often lead to the greatest moments of your life. Keep going. Tough situations build strong people in the end.”
― Roy T. Bennett, The Light in the Heart

I have accepted the difficulties of my whole new world and would consistently devote myself to the curve balls it throws my way. After all, a smooth sea never made good sailors. I usually find myself googling every new word I find and tinkering with all the Dapps I can find with the hope that I would learn something new and every once in a while, I do. A few of the terms and Dapps(I hope that's what they are called) that I have found some difficulty are

Splinterlands
I have already gotten started on Splinterlands and even have a spellbook but still find it very difficult to win a game which I guess is because my opponents have fancier and more advanced cards than I do. I try to understand what I need to do in order to get better cards and I keep getting told I might need to buy better cards or best still borrow/rent better cards to begin a career in Splinterlands. Honestly, I hear what I'm being told but the technical know-how of renting or even buying a card beats me.

Hive Engine
I have opened up my Hive Engine a couple of times and found very different tokens with percentages beside them, I think these are earned as a result of my engagements on the platform but how to make them work in my favour completely beats my imagination

Liquidity Pool
This is another term I think I have heard a few times too much. While I think of it as some sort of stake on a token I think I have little or no idea what this means.

DeFi
I know this stands for decentralized finance but I guess this is all I know.

DHF
This is another fancy acronym I see and find out what it stands for but still have no inkling as to what is being spoken about.

I think there are so many more, but I know they don't scare me because the best part of being on Leofinance and Hive is the amazing people you meet with a plethora of meaningful information that can make all the worries I have to disappear as I go further.

As I continue my journey, I intend to ask the right questions and delve deeply into the science or art of cryptocurrencies and the blockchain as a whole and I'm definite I would get a whole lot better.

Thank you for all the love and support. Hopefully, I would be passing down all this knowledge I'm learning from you all to another up and becoming newbie soon.

Thanks for stopping by.

pappyelblanco#6899-discord

Posted Using LeoFinance Beta

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8 comments
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tears of joy

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Keep laughing at my pains

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I'm not laughing at them... Lol. I'm laughing at the force with which you're breaking forth. It's admirable

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You'll get a hang of it soon and even if you don't understand it all, not everyone understands does. Just enjoy the process and make the most of it.

Don't feel pressured. Find your niche and run with it.

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Thank you very much for the kind words, it makes me feel a lot at ease knowing that there's light at the end of the tunnel.

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We've all been through these difficulties, but here's a quick plan of attack I can recommend to get your started.

1 - Hive and Hive-Engine:
Everything starts with posting on Hive via the correct community front-end.

By posting, you're essentially trading your time for crypto in the form of HIVE and Hive-Engine tokens.

I see you've already started posting your crypto related content through the leofinance.io front-end which means you will earn both HIVE and LEO tokens as rewards.

My advice would be to start writing 1 quality blog a day, stake half your rewards and sell half your rewards to use elsewhere.

2 - Splinterlands:
Now that you've been earning HIVE and Hive-Engine tokens by posting, you can start to level up in Splinterlands.

Use the half of the blogging rewards you sold to buy better Splinterlands cards, which you can then use to play and earn more DEC.

Again, I'd advise keeping half your DEC rewards and selling the other half.

3 - DeFi / Liquidity Pool:

"Liquidity pools are a mechanism by which users can pool their assets in a DEX's smart contracts to provide asset liquidity for traders to swap between currencies. Liquidity pools provide much-needed liquidity, speed, and convenience to the DeFi ecosystem."

Basically, go to the BeeSwap Pools page and pick an LP that says 'rewards available'.

My advice would be to use the half of the DEC rewards you saved from playing Splinterlands to add liquidity to these pools and earn BXT rewards as a result.

Can you see how one leads into the other and the possibilities to scale if you continue to do these every day?

It's all about saving half your rewards and re-investing the other half into another aspect of Hive that will eventually lead to a passive income.

And it all starts 'investing* your time to earn crypto :)

Posted Using LeoFinance Beta

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Whoa!!!! Thank you very much for taking the time out to carefully explain all of this, I'm short of words. Please if you don't mind, could I have your discord so whenever I have more questions and if you have the time, I can say ask.

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