I was watching a YouTube clip yesterday in which "Shark Tank" member Mark Cuban was answering various business and entrepreneurial related questions.
Is Crypto Dead?
One of the questions sent in was — quite directly — "Is crypto dead?"
To which he answered a very strong "no," and then went on to add that you have to be particular about what you get involved with — especially as it comes to NFTs — and then he added what we have often heard here on Hive, that there was a time when people could buy shares of Amazon, Invidia and other hot mega stocks for just a few dollars.
Here in the Cryptosphere, we often have a tendency to be very impetuous and impulsive and want immediate riches. And that's not a good thing.
Mark alluded to this as well, and allowed as much as that if you are speculating, be prepared to lose your shorts!
Evidently he is still a fan of NFT's, but he made the point that the value of any collectible — whether it is sports cards, art or NFT's — is going to fluctuate wildly.
Some of those baseball cards and comic books that went for hundred's of thousands of dollars a decades or two ago might have dropped by as much as 80%... and then they gradually go back up. Trying to "time the market" has always been a somewhat hazardous endeavor, at best!
The bottom line point — which is one I also make to people who are interested in art and collectibles — is buy something because you like it not because you think it's going to go up in value. If you want something that you think is going to appreciate in value don't buy a collectible, buy a stock or precious metals or something like that.
Restating my Objectives
Recently we "lost" a couple of Hive-Engine projects (DHEDGE, DVS) because the primary person working them felt he needed to spend more time with his family. Whereas that was sad, I can well understand that family comes first!
It did leave me cashing out some investment tokens at about a 90% loss, but I guess that's just how it goes in this particular gig!
So I removed a couple of line items from my 2024 goals list, and instead pushed my stake in the Proofofbrain POB tokens up past 7,500, thereby creeping into the top 100 on the richlist.
I have been a fan of this particular project pretty much since its inception, and whereas it seems to have struggled lately, it seems like one of the more viable and long lived endeavors on Hive-Engine.
I'm not entirely happy that the only community front end is now on Ecency — Ecency-based front ends do (in my opinion) a lesser job of giving community sites a "free standing" feel... but I guess so many of the people who start communities are not technically inclined, so moving a few elements around works better for them.
My community administration days are long over, so I don't envy them the job! It's a lot of work to not only manage a community, but to drive it forward to a point of "critical mass" where it becomes more or less self-sustaining.
Haven't really decided whether or not to take on anything new as a goal for 2024 to replace the loss of DHEDGE and DVS... most of the projects I have looked at seem a bit "shaky" under closer scrutiny.
Crypto is definitely not a "get rich quick scheme," whether you're in it on a very small scale, or a very large scale!
Thanks for coming to visit, and do leave a comment if you feel so inclined!
=^..^=
Posted with proof of brain