It snowed a "fair bit" overnight, which meant we had to do the snow work in order to get the car out of the driveway. While only about 20 centimeters fell, that is approximately 2 centimeters of rain and unlike rain, it doesn't drain away anywhere, it just sits. Because it has been consistently coming down the last couple days already, it has been mounting up and we now have a banked channel to move from the front door to the car and the car out to the road.
Speaking about shoveling, one of my colleagues made the "how is your crypto doing" comments at the recent BTC drop down to 32,900. The only time he mentions anything is when he sees it in his news feed and it is bleeding heavily. I asked him if he was finally considering to buy, because it might be a decent point.
A couple days later he asked again in front of a group of people and I asked if he had bought, which of course he hadn't. With a sad face I said, that is a pity - it is up almost 20%...
People get so caught up in the day to day price of everything that they fail to see the overarching trends. This guy has been cycling the same conversation every up and down for over two years, yet still hasn't recognized that Bitcoin itself is up 1000% in that space, but because he is only focusing on the percentages down, he isn't paying any attention to the percentages up.
This is because in general, the ups happen much slower than the downs, so it can gain 1% daily for 100 days to be 270% up (compounding) and then fall 50 in a week - to still be 30% up over that period of time. Because the small gains don't make the news, to the casual observer of FUD, they don't realize, but over the space of a couple years they don't see how much of a change from the start of their FUD shoveling it has moved.
The last 3 years for BTC:
The last 3 years for total crypto:
The total market hos outperformed BTC by about 10% on top, which is due to the growth of many new tokens along the way to add additional mass. However, if you aren't paying attention to anything other than what the media FUD is telling, then you have no idea what is happening in the industry, or how it is going to affect your daily life. The people who talk about the future - seem insane. But, the "insane" are always the ones who are the early adopters of new tech that leads to new industries, because they are the ones who are outliers in general.
I remember back in about 1995 and a year or so before I got my first ever PC, I was talking to a guy at school who was building a PC with a dual Pentium (there was no motherboard suitable at the time as far as I know) in his bedroom. I had no idea what he was talking about, but - he seemed insane to me. Of course he wasn't, he was just well ahead of the curve for a 16 year old and was someone who understood stuff in an area that most people didn't understand or have much experience with at all.
And this is an interesting thing about crypto, as it lays in several "skill" domains and unless one has direct experience with it, it is hard to really understand what is going on. For instance, most financial people are scared of crypto and see it as a joke because it isn't tied to "anything real" as if the derivative market is. Tech people see it as a joke too, because they see how rudimentary it is in comparison to what has already been developed. However, most people don't understand when those two domains are tied together in the way they are through tokenization models, let alone the social interaction aspects layered throughout.
While, they see those who take part as insane, those who do start to interact across the domains start to realize that Bitcoin isn't tied to nothing, it is "physical" in the digital sense, as it is tied to a specific location like real estate. And those crazy NFT images sold aren't what is important, it is the ownership of usable assets as in Splinterlands that is where the value lays.
But, people find it all too complex to get involved, much like I did back in 2011 or so when I could have bought 30 odd Bitcoin for a couple hundred dollars, but couldn't work out how to and instead went out drinking with the money.
Who is insane?
New industries are always going to be ridiculed by those who don't understand them enough to see a future, because without that foresight, they all look ridiculous. They are basic, random, messy, broken and far from the polished older industries that are so familiar - but in time they innovate, they mature and they mount up - like snow falling in the driveway.
Get a shovel, start digging - build a way through.
Taraz
[ Gen1: Hive ]
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It was super snowy in the UK once, and I remember scenes like this and being forced to help clear it all away. Not fun at all, my memories of youth are not like these.
We have been fortunate in the two years here so far as while there has been some snow work, it hasn't been as gruelling as it could be. Last year for example, it snowed a hell of a lot early on and then stayed below zero without snow for ages - so we cleared it once and then had a pretty winter garden for almost two months. Some years, it can be a daily chore - that has to be done before heading to work.
I'm going where @revisesociology is in time, no shitty weather.. or should I say less.
Perhaps we can all move there and start a crypto-village. It is kind of like an eco-village, except instead of being environmentally sound, it is garish and gaudy and uses as much resources as possible to do the simplest of things.
Could you persuade the missus to move? @bingbabe wants to go tomorrow!
One day perhaps.
How knowledgeable is he at investing or finance in general?
I get it when people mention various risks or simply do not understand it, but criticizing price action when it's still well above the 2017/2018 peak over 12 months after reclaiming it is just silly.
I record the price of BTC every time I buy any crypto (except stable coins - hell yeah I'll take 15%) to see how much I would have if I went pure BTC and to get an average buy price. I have a separate one for when I'm selling, too.
Learning how to take profit, or redistribute, is the most difficult thing. Because of redistributing into altcoins and other assets, BTC would have to go to zero, all altcoins would have to join it, USD and EUR would have to go to zero, the global stock markets (not just S&P500 or large corporations) would have to go to zero and precious metals like gold and silver would have to go to zero for me to actually have lost my investments.
Been investing for years. :)
They only watch the downs in the news - they aren't tracking the charts I think.
Tell me about it.
It is funny when you think about all of the zeroes needed and then, consider the likelihood of that happening. If it does happen, we have far bigger issues on pour plate to deal with.
So it's selectivity bias. Maybe you can get him to admit that a broken clock is correct twice a day? I guess I can forgive those people because they are easy to dismiss regardless.
It's the people who single out quantum computing or environmentalism that concern me the most because I have to hear out their arguments before tackling it since it has some merit.
I'm probably missing a few other things that need to go to zero for cryptocurrency investments to fail. As an added bonus, for POW to fail, we also need the cost of energy and computing to go to zero or become monopolized which is even more concerning.
Unless they are just catch-phrasing it and don't really know what they are talking about. In regards to the environment, I asked Arcange to do the rundown on Hive nodes. A full and a half node burns about as much electricity as a 100W lightbulb - I guess people are willing to stop charging all of their devices to save the environment? :)
Yeah, it isn't going to be pretty if crypto fails! :D
My BTC full node is running at about 7 watts which is like a weak LED bulb. But the desktop I use to access Hive is probably consuming 200 watts when it is on. I think it's the mining of BTC they are concerned about because that seems like an easy target. The company I invest in uses flare gas to power their big rigs. If you are going to flare it (not BTCs fault), someone may as well convert it from CH4 to CO2 first. I know of people on individual levels who use them to heat greenhouses and water. Loads of people just straight up heat using fossils and electricity, no harm in doing math equations with it first.
In anycase, we have to compare the energy use of the entire system. Crytpo uses something like 0.1% of global energy but is worth 2T. Anything else worth 2T is going to use a lot more than 0.1% of global energy.
Just earlier J and I were discussing this concept (of people hyperfocusing on one thing to the exclusion of everything else and literally just blanking when you brought up the other side of things and then deliberately and obviously glossing over it as in no way shape or form as important as the thing they firmly believe in) but in relation to something else.
I'm trying to remember if I used to do this at one stage (probably) and it spins me out a bit.
Do they think the tech they're working with now has always magically existed since the dawn of time? o_O
This is the funniest part of it, since we work in a company that is considered one of the most innovative in the industry :D
I'm making the kind of face one makes when they're desperately trying to make sense of something while knowing that it's a lost cause XD
Haha, I'm sure we've all got these types of friends in our lives.
Just keep stacking :)
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Yeah, they are funny types - what do they say when they buy their first crypto? :D
I wish we had some snow here every once in a while. When I was a kid you could see snowing in town at least once every other year, but it is very rare lately due to earth temperature rise.
Although we do not live far away from the Pyrenees with skiing resorts only 2hr away I miss it.
It never snowed where I was growing up, but I quite like it now, as long as it isn't slushy snow.
You go riding there in the summer don't you? Do you ski often?
Yes, I go in the summer and ride the bike. I used to go skiing when I was younger but my wife does not so we do not go anymore. We used to rent a small apartment and at least go there some weekends during the winter when our son was younger. Buying a summer apartment there may be something to consider in the future.
I love that precious photo! There is always so much to learn.
She was loving it - at least for the first half hour! There was a lot of snow to clear before getting to the grandparents for Sunday lunch :)
I remember well how important it was to my kids to feel like they were helping with important tasks! Being able to see what she has accomplished is so great for self esteem.
I agree and I think it adds the path to responsibility. We talk about it often with Smallsteps and she wants to have her own role defined too :)
Lol...
If he doesn't wanna buy it then why he sort of taunts when the prices go down.
Because people like to see others fail at things they are too conservative to do themselves.
Hmm..probably yes.
Taraz did you show him your Hive equivalent in USD when the price hit the all time high of $3,41? Perhaps you should the next time and then ask him if he intends to buy crypto the next time there's a dip.
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Mhmn! When life gives you lemons, make lemonades out of it. One cannot continue to cry over spilled milk during periods of FUD rather as you said one should get a shovel, start digging and build a way through there is sure a light at the end of that tunnel ultimately.
I wouldn't bother with such people to say buy or sell any crypto. They don't even know what they are buying or selling, just the price is important.
I don't tell them to buy or sell, as I know they won't - but I do say it so I can remind them of it later ;D
I wish I could witness a snow....
Ever since I joined the hives community, I ve learnt alot about crypto and I believe it is a great investment I the future not just buying and selling but rather investing in it
Will you ever try to go somewhere cold to see it?
They are so much interested to be sure if it is right to invest at anytime they feel is appropriate because such people can't take risk
I think it is mostly a lack of understanding of the risk involved. They invest into other things - for example, this person buys gold and stocks, but they have an "idea" of what that means to them. Crypto is too foreign as a concept.
beauty pic
WOW There is always so much to learn! 😯
A good friend always displays a good picture. have a nice day.
Anybody else touched by how adorable smallsteps looks? Can't be just me
Most times it's much easier sitting by the side lines watching, correcting and making ridicule of those in the playing field but once put in the field, you find out you are much less than those playing.
Personally, I look at the charts and just wail not because of FUD but because of funds presently.