Have you ever heard someone say they needed to check their couch cushions for spare change to see if they could pay for something? I'll be the first to admit, I have been in a bit of a funk lately, and the markets (especially crypto) feel like we are scrounging through our cushions just to hoard any bit of spare change we can. It's funny, but so many times I see people talking about HIVE or BTC making a big pump.
I'm sorry, but I don't think my idea of a big pump and your idea of a big pump are the same thing.
When HIVE was hovering around $.06, a pump to $.066 is hardly what I would call a "big pump". In the same vein, I wouldn't consider a BTC pump from $60,000 to $66,000 that big either. Especially when the ATH of BTC is almost twice that.
I'll be honest, I have been feeling a bit of depression lately about the markets. It feels like I really dropped the ball this past cycle and I don't think things are going to turn around for me to recover. The good news is, I have a full time job and I never invested more than I was willing to lose in the market, but dang if it still doesn't hurt.
The hope was that crypto would somehow provide me a way to have a little bit of comfort in life, but each day that passes seems to indicate that is less and less likely. I've actually said to a couple of people now that I have kind of resigned myself to the idea that I am always going to be "middle class". That's not a bad thing, just not what I had anticipated when I started this journey.
Live and learn I guess.
I'm sure many people would be thrilled to live a middle class life. Especially in this day and age when inflation is out of control and the entire system seems to be stacked against just about everyone who isn't in the top 1 percent.
Splinterlands
I'm sure I am not the first to admit that I have kind of lost my joy with Splinterlands. In fact, just recently a long time investor who I know has put a lot of money into the game reached out to me to let me know that he is completely out now. No license nodes, no cards, no land. It's crazy to think about to be honest. Personally, I still enjoy playing guild brawls, but as far as leagues, I have been botting in wild for a while now and even the Frontier or Foundations or whatever they want to call it has lost it's luster for me.
My wood earnings on land barely cover the fees to use the bot for wild, and the rewards for holding a node a just abysmal when I compare them to what I have to pay to have the node hosted for me. Sure, I could host the node myself, but right now I just don't have the time. I have a feeling before too long I am going to have to shutter the whole thing.
I've said it before, but if I could get what I paid for my SPS node, I would sell it in a heartbeat and move those funds into GoMining. It's been a much better investment for me at least in the short term.
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Speaking of GoMining, here is my referral link if you are interested in joining.
I got an email the other day that I was going to be getting paid for some kind of class action suit against Facebook. I had a brief discussion about it with @ericvancewalton. Turns out I got another message and then just this morning I received an alert from Venmo that I had been paid the $7 and some odd cents that was part of my reward(?) for the class action lawsuit.
When you think about Facebook and the amount of money that is floating around in the orbit of that company and the people involved in it, $7 seems like a massive slap in the face right? Actually, $7.31 to be exact. Sure, I know they had to split it a lot of ways, but you know the lawyers are making out like bandits on this right?
I guess I should just be happy I got something right?
I know, I know, that's how they lull you into complacency.
It's hard for sure, but hopefully each of you can find a bit of a bright spot in all of this crap that is happening right now. As far as the traditional markets go, we can bet they are likely going to recover. As for everything else? Better start checking those couch cushions!
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I drive my daughter crazy with my determinedly positive perspective, but I often stop and think about such things (your statement above).
Long Island, where I live, is a kind of crazy place. It's not that big, but as you move around you see vastly different lifestyles. It's funny how neighborhood in a way shapes expectation. Middle class can mean a lot of things. It can mean the Porsche in the driveway with the $60,000 SUV, and the swimming pool in the back. That's one neighborhood in my children's (now grown) school district. It can mean 5 groomed acres, horse stables and of course a swimming pool...neighborhood in the same school district. Or it can mean a Subaru and 1/5 acre plot with a modified cape...another neighborhood in the same district.
I can spend my time coveting the 5 acres, and the Porsche. Or I can realize that my modest house, (100% mortgage free) and my seven-year-old Suburu (under 60,000 miles, works beautifully), would be coveted by some. I'm happy with my middle class life. Truly happy. The only thing missing is the ability to help those I love. That's what more money would do for me.
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Yeah, it's definitely quite subjective. I honestly don't even know where I would fit into the scale. It likely varies where you live in the country too I am guessing. Ultimately, I just want to be able to not have to say no when my wife and I want to do things.
Until things double or triple it isn't a big pump. That's what big pumps are in crypto, but I fear those days may be gone for the time being. Maybe they will return, I hope so...
Splinterlands isn't a good way to earn anymore, it's a break even at best scenario. The golden days of Untamed and ridiculously high card prices is gone, they were fun while they lasted though weren't they?
The Facebook settlement is a slap in the face, the main plaintiff got a large sum of money, and the lawyers got the largest percentage. They usually walk away with 50% or more in these cases. The lawyers always make out like thieves, the system is set up so they make money. It's wrong in my opinion, but not one listens to me...
Where to invest? Maybe Space X IPO will pay off big down the road? I know that as of today over 4K of their employees became millionaires thanks to the IPO, maybe I should have worked for them for the last 20 years! lol But who really knows, unless you get insider info investing is always a huge risk. Although it's illegal Wall Street is full of insider trading, they make a fortune doing it!
It feels like it is gone for sure. I just don't even know anymore.
Situation with crypto is really heartbreaking. I know, BTC price will pump again and will go higher than the current ATH, but wen? that's the real question.
I stopped playing Splinterlands when it started feeling like a chore instead of fun. It took me a long time to make that decision, though. It's not something you can decide in a gist, you have an emotional attachment to the game.
I'm betting on BTC more than anything else. It seems like things are moving over to the BTC Maxi's. I can appreciate and respect your feelings on Splinterlands.
🙏
Im on the same boat with crypto and irl, things are not easy lately and feel like Im stuck for the past year and a half after I change jobs, the only things that keep me going are my coding experiments and creating content, based on my choice is always movies and tv series related so it clears my head a bit, but I have even thought how my life would be if I never got into tech at a young age, not necessarily feeling remorse but my job as IT and financial desicions are not at peak ath atm, meh others have gone through worst so the only real choise is focus on what I can control and lets see what happens in two years from now with HIVE, Im sure BTC will be fine 😬
I'm lucky that I have a good job and crypto was always more of a hobby for me, but it still stings.
Sounds like today is the day to get in on some SpaceX :)
The valuation is way too high.
$7 from FB? Better than nothing I suppose. I've made hardly anything from platforms other than Hive and I don't expect my earnings here to be much unless something really changes. As with you I have other income and so don't rely on it, but Hive is fun for me anyway.
Yeah, I can't even get a meal at mcdonlds for that!
If you treat Hive and anything crypto as a super high risk investment that is a tiny part of your overall portfolio you should not care as much that it is in a toilet.
The higher the risk the higher the potential reward is... or we can loose it all, since it is super high risk. Hive and SPS are legit gambling, while Bitcoin is more like a very high risk but lower in risk profile where I do not expect more than x5 in the next five years. So Bitcoin requires some capital invested...
My major bet is still real estate, though I would not expect more than 5% a year on average in terms of return... So you really need some capital there...
Real estate is hard to break into my area. I wouldn't want to be a landlord I don't think.
Investing is so psychologically demanding. We tend to get emotionally invested in things and those emotions blind us and then we beat ourselves up for opportunities we missed, decisions we made (or didn't make). I've had more than my share of this. I wouldn't count yourself out just yet. If we position ourselves properly sometimes all we have to do is wait but waiting is the hardest thing to do.
I'm running out of time to keep waiting! 😀
I have a good feeling about late summer/fall. : ) Did you get into SpaceX's IPO?
I hope you are right! No, I skipped it. I didn't even see what the valuation was, but I had a feeling it was over inflated like Coinbase. It feels like the smarter play is to go short on it. I've seen a few people saying they might do that.
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Mehn, the crypto famine are the type of famines spoken of in the Bible.
Inflator rate is crazy, and for someone with no full time job (I) it's clear how quickly depressing it can get.
What's the Facebook lawsuit about?
Not sure about the Facebook thing. I just know I got some pittance.
That is very true. Just like you can't compare the meaning of the word "investment" used by a thirds world person and one living in a developed country. Money is valued in a different way.
Well, the crypto market is not trending to the upside, that's for sure, but I made sure to take some profit when it was time and rotate it into something profitable, so I can't complain.
Funny since this was supposed to be the administration of crypto....
It is, for them. Not to worry for a second as they are growing their bags pretty nicely, by trading inside information. Daddy dearest notifies his family about the news he's going to announce, they place their orders, then the news does the rest. It's the best, easiest and safest business, and pays phenomenally.
Yeah, they have totally undermined the thing that they have been promising to everyone else. It's ridiculous.
!pimp