The markets are tough of late. Both cryptocurrency and the equities markets are being trounced. There is little doubt the bears are in control while fear took over.
Times like these test the resolve of all market participants. Not all survive. This is a cleansing period where weaker heads are forced out. People abandon their positions, throwing in the towel.
With something relatively new like cryptocurrency, this is even magnified. Equities, as a whole, have a long track record. Cryptocurrency cannot rely upon this. Hence, many exit believing that it is a scam or take Warren Buffett's viewpoint.
Ben Bernanke use to talk about green sprouts. This is an important concept for crypto-economic systems. As they grow, the network effect starts to take over, further enhancing the impact upon the entire ecosystem.
This is something not reflected in market activity. Look at the different cryptocurrencies and you can see how the market paints then all with the same brush. Red is red and all are hit.
Therefore, we need to separate the market from what is actually taking place. The market does not care about development versus idle. It simply moves according to the irrational emotions of the participants.
Builders Are The Difference Makers
Here is a simple question:
What do the following projects have in common?
- SpkNetwork
- Ragnarok
- Leofinance
- PsyberX
- Actifit
- Splinterlands
- Brofund
- CTP
The answer is they are all building. Here are more than half a dozen projects working on some pretty interesting things. They are also immersing themselves in the middle of some pretty big markets. If even one of them changes one of those industries by even a few percent, it will be enormous for Hive.
When the market goes nuts, it is often best to return to the basics. This is true no matter which direction it is going.
Revisiting the list, it is easy to see how there is hundreds of millions of dollars in potential there. Obviously this is not going to roll out overnight yet people are working on moving each of them forward. What is powerful is the fact that they can compliment each other, further enhancing the impact.
In the digital realm, theories like Reed Law tell us a great deal. These explain the correlation between different players in a communication system along with how value is affected. It is important to note that on a blockchain like Hive, one's account can access anything tied to the network. This takes the graphical representation of the system from 2D to 3D (2D being more representative of Metcalfe's Law).
As these "connections" are established, the entire system becomes not only more powerful but resilient. When adding in decentralized aspects, the point should be clear how this changes things.
Networked Economies
In the past we discussed Distributed Network-States. This is a mental shift that is necessary to understand how the digital world is changing things. Instead of a geographic basis, we see one that is dependent upon the network one is tied to. Hence, we are dealing with a realm with a lot more variables.
Hive is an economy. If we keep this in mind, we realize the market pricing is not important. What is vital is the commercial activity that is taking place. If we use the mental framework of a town developing, we can see how building becomes the epicenter.
When people are busing constructing, "holes" in the town get filled in. Businesses form providing goods and services the community needs. As that happens, more is produced to meet consumption. Money is exchange as a means of settling these transactions.
If we step back, we see the same thing happening on Hive. How many are regularly buying Splinterland cards? Are people engaging in their daily quests? Do we not see people posting articles and comments, both of which can generate rewards?
All of this is taking place on top of the core infrastructure. Essentially, we keep creating new levels on Hive which only enhances the value of the base layer.
After all, isn't the land underneath a city worth a great deal more due to the activity taking place on top of it? Would New York or London be worth as much if there was 1/10th the people engaging in 1/100th the economic activity? Obviously not.
Falling Victim To The Quick Hits
Everyone loves an overnight success. This is something we all strive for. Of course, this is magnified when it comes to markets.
We all want to partake in the "next Amazon". That is the goal for most speculative investors. Mooning and Lambos are all that matter.
There is one problem with this. AMZN was not always the high flyer it is today. Let us look at the stock history from Yahoo Finance.
Notice there were extended period of sideways movement. There were also ups and downs. It is hard to see but during the DotCom bubble, the stock reached $100 before losing most of that. How would you have felt going through that?
One person who never wavered was Jeff Bezos. He became the richest man in the world and it is easy to see why. Once the stock took off, his holdings became worth a fortune.
The key to all this is that, no matter what the market was doing, Amazon was building. They were expanding their offerings, growing revenues, and taking over market share. It wasn't until about 2014 where the average person was aware of the retail apocalypse that was taking place.
There is an important lesson in this. Some cryptocurrency projects are going to follow Amazon. They have tremendous futures. However, the ones that achieve success will not do so as a result of hype or market action. It will come from building and developing.
The "Amazon Economy" took decades to materialize. Along the way, the company just kept moving forward. There were no shortcuts just business decisions that ultimately resulted in more value. Eventually the market realized this.
Remember, there was a time when Amazon was really just an online bookstore.
Hive is building. This is the reason for optimism during a wave of market insanity. Fear has gripped the markets and we have no choice but to endure this phase. However, while it takes place, nothing changes. Those who are building will continue to do so.
This is why there is reason for optimism with this ecosystem. There are a number of people who keep building, regardless of what the market is doing. We cannot say the same about a lot of projects.
If you found this article informative, please give an upvote and rehive.
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Keep building, posting and engaging is the best thing to do now. Here on Hive that is.
Don’t panic, sell or stop engaging. Keep calm.
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Hive is a haven and will be so no matter how the market behaves. Building must go on indeed!
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That's anti FUD pill. As I said in my recent post where I was expressing how bullish I'm on Bitcoin and Hive, the most important question anyone should ask before panic selling is: did we had this in 2018? No...
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We gotta accept the fact that there is no shortcut to success. I am happy that we are slowly building our economy.
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@pixresteemer(4/10) gave you LUV.
H-E tools | discord | community | <>< daily
erm... ahem... ¿How many Jeff Bezos we have here in the Hive blockchain?
I've actually been pretty calm through this recent market stuff that is going on. I do own some BTC and LUNA, but I feel pretty hardened after being on Hive through 2018 and 2019. I just gotta keep showing up and doing my thing. Even if BTC drops to $20K I am still up on that. Bigger and Better things are right around the corner.
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Very optimistic about BTC, I would love it)
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well stated,
Task.
The beat goes on and we've got lots of talented percussionists to follow. I'm still trying to find a role here, I'm not a coder, but I think I have finally overcome the weak hands malaise. Not that I ever divested from crypto, but I did move stuff around looking for the next Rocket to the Moon 🌞
One idiot wanted to send a rocket to the moon, but all his rockets fall in Ukraine, along with the world economy.
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And I put on a tortoise shell, divided my assets into two parts, in case of rise and fall, and decided to look at everything that happens in silence)
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Don’t forget about us, lol. We are building like crazy over here, lol. With @hivelist, we are working on being the Amazon of the blockchain but yes, it takes time. It all takes allot of time to build up properly.
Now that the hype of the bull run is over, it’s time to really focus on building the businesses of the future. Then when they are fully ready for next cycle, it is GAME ON!
Next up…
@blocktunes is trying to change the music game as well and integrating with HiveList/PolyList and @gamestate
PolyList and The Logical DAO are next up, bringing some fun NFT collections that will hopefully drive income too keep it all building!
Sorry, had to take the opportunity for some shameless self promotion, lol!
Millionaires are made in bear markets. :') It's the best time for builders to emerge as heroes.
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The booming economic forces are the service providers to the world's citizens and not just a particular type, geo or national or language. That is what HIVE has always been good at. Crypto generally will provide native energy networks for those who are willing to further convert their identity. Eventually, we all will become citizens of the world to an ever-increasing degree. On our way there, we can use the HIVE Blockchain to speak our truth to power. To fight to corruption of the old world that spreads its greedy tentacles into the new realm of cryptocurrency with such success up until now. This was not meant to be our crash, but now it is.
Nice blog, shared with KCWeb3
It's a gradual process...
It's quite simple, really. If you build you'll increase the probabilities of success.
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I remember when Amazon just sold books. What a crazy memory!
We just keep on doing our thing here, one day at a time.
Hence, many exit believing that it is a scam or take Warren Buffett's viewpoint. — I remember a 3speak video of yours taking a look at Warren Buffett’s stance and opinion of crypto . Clearly he got it all wrong !
That being said , the Hive ecosystem is really a budding and promising one . In my opinion it is a platform based on the sole aim of building a reliable source of passive income for investors who see the myriads of opportunities and potentials the ecosystem has.
Because the focus wasn't on quick success, patience was involved and that am going to emulate and not freak out.
If the projects you mentioned in this post isn't getting anyone excited I suggest people check out those projects.
Like Aggroed once said;
I remain pumped up regardless of what the market does!
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I'd add DreemPort to that list as it toils quietly away helping to get people's eyes on other people's work and the participants earn DREEM tokens for curating.
Going back to the basics and building on the knowledge you gained when things where popping
Nothing has changed as the fundamentals still remain the same. Investors want it all right now and are to immature to understand the bigger picture.
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The list is great. So many more things to play with during downtimes. Hive came out of the last bear with much less development. It will be even a more attractive place this time around
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People need to do the damage control no matter how bad things are because it's a lot harder to come back from a loss. If you lose 20%, you need 25% to get back to your starting point. So focusing down on the core elements is what people should be doing and I think that is why the dollar or BTC does well because it's safer.
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I got my hammer, level and drill all warmed up 😀
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!ALIVE
!CTP
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. Keep up the fantastic work
tbh I didn't expect Hive's price to remain above $1 for 5 months or so, instead of being a pump and dump like it was in the good old days, so you could say that's a good sign for the future
This reminds me of the typical disconnect between the real economy and the stock market. Some would measure economic growth by looking at the performance of the stock market. The problem is there are times that the economy is crashing while at the same time, the stock market is making new highs. In the case of Hive, what's happening is the exact opposite. The real economy is growing, but its market price is crashing.
I don't know. Personally, I am not worried about the current noise. Though not in crypto, somehow experiencing two bear markets in securities for the last 8 years, I see a big difference. Though the cash value of my holdings is declining, the important thing is that the quantity of tokens is growing. Somehow, the growth in the number of tokens counterbalances the loss in market price.
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