I have been making some silly investment decisions lately. Mostly concerning Splinterlands. I have gone from zero investment not too long ago to, well, too much. If this is just the hype and there is nothing to come out of it in the future, it is going to be pretty painful, but at least I will have some digital cards I can stare at. If however it does keep ramping up in value as more players come on board, it should be okay.
This whole crypto thing is very much pie in the sky at this point and even though we can feel smart for investing early into something that goes 10x or 50x, that is only the short-term result. Buying into a token that goes 10x and selling into fiat isn't the success of the token, even though profit was made. The long-term vision of success has to be tied to utility, where the token can be used or is part of solving a problem of some kind.
The buy and sell of it is just speculation and competition against other speculators, it isn't attached to anything useful, meaning the token could be literally anything. Once that speculation shifts to investment decisions being made on the speculation of which project is going to bring utility and then, the token value of the token is attached to its ability to deliver, then things start to change and real industries form.
What is interesting about blockchain and tokenization through crypto is that while it is an industry by itself in many ways, it is also supporting infrastructure for every industry that is currently connected to the current economy, which is all industries. The technology is versatile enough to be able to used in numerous ways that can interact with existing businesses to help them improve their processes, streamline and save costs; as well as support the innovation of new developments to be brought to the market to improve their client offerings.
Back in the day when the internet was rolling out globally into the mainstream, no one "invested" into it, they invested into connecting to it. This means that while we had access to the capabilities of the infrastructure, we don't actually own any of it, we are all renters. For practical purposes, blockchain tech needs the internet network for it to be useful to the majority of us, but this also means it has to run on the rented lines, which is of course a risk.
However, the internet and the potential of blockchain and crypto is of such value, that shutting it down is going to be far too costly, since it is able to reduce costs and generate additional income and capabilities, empowering the internet as we know it even further. As more corporations discover the potential and start connecting their own business models to the blockchain in the same way they connected to the internet back in the day, the entire world starts to change.
Back in the early 90s, no one saw what was coming in terms of how it would be utilized, nor did they see how it was going to fundamentally guide innovation. Pretty much everything we do now is in some way powered by the internet in some way and if it was to go dark, society would at least for a while, fall apart. We have got so accustomed to having the internet help us, that we don't even know all of the ways it does so, only the ways that come to mind.
Once the blockchain layer is integrated in, the second-layer goods and services start to sprout up too and many of the current methods to manage digital content of all kinds, will start integrating with blockchain and token technology in an attempt to save and generate wealth. Corporations are very savvy at utilizing technology to improve profits and it won't be long until they mainstream crypto, because it is in their best interest to do so.
Ultimately, even though I consider all of us early adopters and investors, at the end of the day it is impossible to know precisely what will successfully bridge the gap from value potential to realizing that value. Many people go quite wide with their investments and others stay narrow, some see massive gains, some see massive losses - but it is about being lucky as much as it is about being smart.
While I feel that I have largely missed the Splinterlands boat, if Hive was to go 10x in the next six months, there will be people who will feel they missed the HIVE boat. I can't say that HIVE will go up like that by Christmas, but I hope it does and then a fair bit further. However, the price would still be considered a short-term gain, until it drops back and finds a floor. Once that floor is stable enough that the mainstream trust it and don't mind building upon it, it is unproven as a problem solver.
The internet was once an oddity, a curiosity that people didn't really understand enough to see the future use of it, but the average person isn't overly innovative. However, once the innovators did see the potential to improve processes and create value for existing business, it expanded rapidly. Now, everything we do and have is connected at some point in its lifecycle to the internet, utilized heavily by the very people who couldn't see its value back in the day.
I remember people making fun of those who had car phones in the late 80s and the mobile users in the early 90s - how many of those people don't have a smartphone today because they do not see the benefits of the technology? Back then, the infrastructure was called "tele" communication - but who calls it the telco industry now?
It won't be that long until the same spikes happen in blockchain and crypto innovation, so that what people know of it (which is currently not much) start to change in the mainstream and they start to interact with it in ways that they couldn't before, often not even knowing when they are using it or if it was ever part of the production line of what they do and consume. It will just be another part of their day, while trillions of dollar equivalents of processes and usage, runs across it in the background.
It might be pie in the sky at the moment, but we have the ingredients coming together all the time and the oven is warming.
Taraz
[ Gen1: Hive ]
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A lot of people tell me I am nuts for having even my tiny bit of crypto, and one friend who has never heard of either crypto or bitcoin! Does this make me an early adopter?
Haha definitely
We're all still very early in the game
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You are definitely an early adopter - we are all crazy as to what we are adopting - at least to most people :)
There will always be something to be an early adopter for.
And while some things can be imagined/predicted I think we still don't see what we could do with the stuff we have and are developing now and while things will come up with problems to solve (or just because it's cool) I feel like a lot of things will just stick because people are more concerned about controlling everything and everyone rather than just getting stuff done.
Yes. At the moment in OZ it could be for a vaccine passport tattoo.
Would be great for more stuff done, less stuff getting controlled. Often, there are too many mini-dictators wanting their own duchy.
with respect to projects that 10X or 50X, I haven't seen any since bitcoin dominance affected a lot of tokens.
Utility no doubt, is the prosperity of a coin or in terms of value.
Long term sight is actually the best, it takes time for good things to grow. I've carefully observed the market during the bull run and its period of consolidation. Hive has stayed useful through out.
connecting most of our daily lives and businesses into the blockchain is not such a bad idea. besides the internet and blockchain have truly helped.
Also blockchain might not be perfect, but the idea of decentralization beats the best centralized companies.
with time the blockchain and the hive will conquer, good things take time.
through the regulation issues and all of that follows it.
In fact I think there's some sort of manipulation to this.I feel there is some trend that works in terms of centralization.
thank you
This is generally the case - though RUNE has been doing well.
Always useful in some way and, it is fun to use :)
I think in time when crypto people get more "organised" it will compete very heavily with traditional business. For now, we tend to compete with ourselves too much.
Terra jumped from 0.35 cents to about $21 dollars.
Fairly serious pull!!
440 Dice packs :)
Gold Epona and Gold Theresa Nightshade! That is some serious stuff! You are now officially a grown up!
taking some of the expensive delegation away, as you don't need them anymore
Thank you very much for these :)
@revisesociology and @abh12345 can you guys check too, leave me with some summoners at least for now please!! :D
Good point. Sometimes I also think I missed the Splinterlands boat but I think it's still going to do a lot more so it's not too late, really.
Also, we're building a world of abundance so there will be many other projects just as successful or even more so.
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Will see how it goes. I have gone in quite heavy at the moment, so I hope there is more to come.
I can only focus on so much at a time, so I am really hoping some of the things I have pan out so I don't have to chase every new thing.
MMMM. Fish gut pie.
Just looking at your photo...
Looks pretty brutal, doesn't it?
Yeah but I bet it tastes great!
Working as a CIO in a telecom company, it is always a pleasure for me to listen to people who understand the fundamental importance of technologies. In the matter of the Internet, this is simple, because it is an infrastructure that has already proven its economic value.
More difficult for the layman is the opportunity to see the potential of technologies at the application level. For example, you could mention the dot-com bubble, which was formed due to the infrastructural consolidation of the Internet, but was still in a separate plane, as a continuation of the basic technology. It seems to me that this is the closest example to the blockchain. The technology is already built on a proven infrastructure, there are a lot of examples of its potential application. But there is too much information noise and projects that set a direct similarity with dot-coms.
I can remember using bulletin boards to send messages to my brother who was in the military and was in the Middle East somewhere. Phones were too expensive, but, this was free!
I had a cell phone and nobody to call in the beginning. The only free calls were if they were to/from someone in your network, otherwise, your bill could be more than your mortgage!
My siblings still think I'm wasting my money on the crypto I have, but, they all have phones and send emails or texts now. I can be patient.
I love how it sometimes looks like we messed up and started late but then in the not so distant future, our seemingly late investment gives some awesome reward.
Best of luck with the Splinterlads investment. It's sure as hell going to be worth it.
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