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Are You Having Fun?

indigooceanPosted for Everyone to comment on, 5 years ago4 min read

It occurred to me today that despite the almost yearlong bear market we've been in, I'm still really having fun with crypto.

I love hearing about it, reading about it, talking about it, researching, trading.... It's just so much fun!

Your Timeline?


Are you frustrated or appreciative of this opportunity to accumulate at such low prices over such an extended period?

I think the answer depends a lot on one's timeline.

If we are focused on seeing prices rise now, so that we can trade for fiat and spend the money perhaps, then it has to be frustrating. So long waiting!

But if one's timeline is a couple years out (as mine is) then this is just very fortunate.

While the powers that be may be trying to shake us loose and force capitulation so that they can snap up our BTC at cheap prices, we're right in there with them buying more! Ha!

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The Whaleshares Experience


My take on Whaleshares (or Steemit/Trybe/MINDS/blockchain social media sites in general) is a little different though.

I've started thinking that financially the business model just doesn't work for investing, which means in the long run it just doesn't work period.

That's because you need two sides of a market, buyers and sellers. There's lots of reason for people to sell coins they've earned, but as I look at each platform I search for reasons most people will decide to buy. And with each I see problems there.

For example, on sites like Whaleshares or Steemit where the size of your wallet determines the size of your upvote, there is slight incentive to buy to be able to upvote others more, but most people will only be motivated to buy to upvote themselves. That's on any platform where there are folks building their stacks faster by self-voting a lot. The standard gets set by them, because people are loathe to feel like they're the sucker. The lowest common denominator tolerated will over time set community norms, at least when it comes to the money part.

Unfortunately, though this works fine for short-term investors, it does not work for long-term investors. Any investor who wants to buy a coin they believe will have value 3 years from now is not going to be attracted to a platform so fundamentally unfair that they know it's just a matter of time before most members become discouraged and flee. Plus an environment of greed isn't an inspiring investment by itself, so who wants to invest in that for the long run? Only those looking for quick gains themselves will be attracted, so the investor base will also skew toward those most anti-social.

Contrast with a platform like Trybe, where every post must be approved and every upvote has the same weight. Great for content creators, until they go to sell and find there is no reason for anyone to be on the other side of that trade. Why would you buy that coin? What can you possibly get out of buying it? You don't get more power to rewards others OR yourself.

Why I'm Having Fun Anyway


Yet I participate regularly on not one but three different sites on the blockchain. I'm even in talks with some friends about launching our own token that will work with at least one of the platforms.

Why?

Because I like YOU!

I like coming to these places and meeting people like you.

I like sharing ideas with you and learning from you.

I like that so many people have an incentive to be here, because whatever amount they are earning in the short run, it's worth the investment of time to them to really engage. There is much deeper commitment than on a site like Facebook.

Bottom line, I like the social in blockchain social media. That's the payoff. I invest time and I get back learning, growth and joy. Not a bad deal!

But then I am retired. I don't need the money. I do invest to continue growing my wealth, and for that I look for opportunities that I can trust to payoff in my multi-year timeline. I have plans for what to do with crypto earnings, things I can't do now, service projects I want to launch that have high initial capital requirements.

So having fun in different ways in different places. Appreciating whatever is there to appreciate.

And you?


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