Testing The Survivability Of Some Crypto Projects (HPUD Special)
When people miss golden opportunities in crypto, this is when they begin to wish they could have been able to predict the future. Every day, people Miss out on life-changing opportunities because of their doubt and disbelief, now I'm not saying this is necessarily a bad thing.
There are people whose caution has actually helped them against investing in projects that might ruin them, but caution is a double edge sword, it can protect one, but it can also make one miss out. The effect of FTX's Crash created more cautious people rather than more daring people, this is because of the fear of loss.
Inasmuch as people believe in the system, sometimes the Fear of loss overwhelms a believer and turns them into skeptics
But,
One thing that happens to cautious people is that they're always safe, their money is in their pocket, and there's no way they're losing when they're not taking risks, but the most terrible aspect of it is that cautious people are also the most regretful people. They want to have their cake and still eat it, but this isn't exactly crypto.
However, I know some people who are cautious and they've balanced this caution with taking calculated risks based on their research. Now, making one's research helps one to stay strong, especially when the market is going down and people are beginning to spread FUD about the prospective projects they're buying into.
Some days ago, I decided to check Twitter and I saw that HEX owners are massively FUDing after they saw a massive 97% loss on their coin. Apparently, hex wasn't immune to the dip that happened in November and December and even if the general market has started improving, hex still seems to be down.
In reality, the project was originally all 2% product 58% hype, and 40% marketing, but some of the OGs are beginning to FUD the creator of the project and saying he sold some massive millions of the coin at the expense of them that had their coin locked up for 3 to 5 years. I mean, someone having access to millions in liquidity at the expense of people who are locking can be dangerous.
I mean, this is one of the red flags of a project, but since some of these OGs made some mad money at the beginning, I was thinking they'll stand with their project through thick and thin, but you know, loyalty in crypto is often born through believability. A lot of those guys knew the project was shit, but the money was there,
It took something as FTX to put the project in a very situation. One of the many criteria people should consider in crypto is not just the good times or money-making process. They should be able to check the survivability of the project in some bad bear market situations because survival is important in a bear market.
Chasing short-term Money in crypto apart from trading might not yield life-changing dividends
.......this is why people should sort out great projects, to continue exponential building across the market seasons. Some Bitcoin whales, for example, have been in Bitcoin for more than 7 to 8 years. Those guys have seen their assets, go up and down and they've remained because of the trust in the Inevitability that BTC might hit a certain figure, be it in 5 or 10 years and grant them financial freedom. If there wasn't such believability, they'll be scrapping to sell off during the bear and buy back during the bull, while this seems absurd, this is what many people are actually doing rather than doing the opposite.
However, some projects turn people into gamblers
they make them become the potential weak hands we always speak about. This is why I say people are the reflection of the Crypto projects they're vested into, and this is always the problem of those who came for the short-term bucks.
It's HPUD today and I've managed to do my bit. I'm actually a daily power upper.. What I do is power up at least 1.2 hive daily, while still doing my major power-up at the beginning of every month. This means HPUD happens every singular day for me, so it's almost impossible for me to forget the main HPUD.
Powering up feels great.....
apart from the fact that it's endearing, it's actually one of the ways to building one's stake intentionally, and apparently stems from the fact that we have a good project at our disposal. We're still lacking in so many aspects, but it's better than waking up to discover you've been rugged pulled. I think when the project is solid, this is a baseline for growth, marketing, and advertising are peripheral, especially since we know that bear markets are always present to test the resolves of projects. Great to be a partaker of this month's HPUD, looking forward to next month
Interested in some more of my works?
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The Experiential Process of Understanding Money
A Case Of Theft On Hive: Here's Why Some People Choose Scam.
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The bear market has been very insightful to see how those building projects have been working and their resilience to support their projects even in the hard times, while others have jumped ship when things got more difficult.
It is also a good reminder that if you have an extra intermediary between you and your investment, that is another layer of risk.
I have picked this post on behalf of the @OurPick project which will be highlighted in the next post!
People who jump ship when it gets tough will never be able to build anything. I know people like this. Crypto comes with it's own challenges and I don't think anyone should be jumping ships. The bear market is a true revealer of character and projects authenticity.
Thanks for featuring my post.
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Great piece - as always. Balancing caution with taking calculated risks is the best combination. And crypto is just full of risks.
The above is a proper yard stick for measuring great crypto projects. And as we have seen, Hive, LEO and some other projects on the Hive platform have shown over time that they are not just able to survive, but actually thrive when the market is down.
I admire that commitment of powering up every single day. Its really a huge way to build. Will be looking at how to incorporate that with the periodic power up days.
Cant wait to see the future when we will look back and feel both proud and blessed to have taken the decision to build now.
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You're right, we cannot exactly give in to the whims of all that risk, and we cannot recoil in cowardice of caution, best thing is to find a balance. I'm even thinking of more ways to build here and establish a win-win situation for the chain and myself, I hope the next bull market can be massive to achieve these set plans in motion. However, I'm glad I'm here, the project is solid like I've said, so it's a no-brainer to continue building.
Of course it takes intentionality, but I have to eventually get it done, for my own sake. Thanks for coming through
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I absolutely love the ability of bear markets to filter out the shitty projects from good ones. If a project can’t survive one bear, you know automatically it can’t compete against others who have survived more bears and it wouldn’t make sense to put your money there.
Buying in the bull and selling in the bear and is the fastest ticket to financial rune and in a way can tell what type of person you are. People like that definitely will have problems with belief, control over their emotions and commitment because those are clearly the driving factors to why someone would make this counterintuitive move.
A 1.2HIVE power up everyday plus main HPUD power up is impressive, man. Next month, I should work on getting the PUM badge too. In the mean time, I’ll hit my 1k HP goal today on my main account and maybe hit 800LP too on my alt by next LPUD. I should’ve been long past 1k by now if the issue with my hostel hadn’t come up and I didn’t need to use my HBD.
As for people buying during the bull market and selling during the bear market I think we saw this when the issue of FTX came into play. I won't blame anyone because it's difficult to watch your investment plummeting without you being able to salvage anything and the constant fear of loss and the inevitable. One of the reasons why people do illogical things when it comes to crypto is because of fear of loss. But we can salvage this by actually building with projects that will stand the test of time and longevity as well.
As for me I love to build, This is what I'm still planning to do, I'm obsessed with Building and I will always find the best ways to do so with hive.
You have some impressive statistics there. I think your alternate account is actually doing well considering the fact that is just a new account, but I know that you are building connections on it and that is why it has been like that. Keep winning
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Haha I don’t know about the impressive statistics part. I’ve read some posts today and that just got me to realize how much not impressive my stats actually are. Not that I’m not acknowledging my growth, of course.
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You touched some deep topic and concerns here.
It's not easy to take risk these days, but it has never been easy. Some person's might want to take risk only from a motivational speech perspective.
From this post it is clear that the first risk to take when it comes to anything is "Learning And Unlearning" .
If you want to take crypto related risk you must first risk your time and energy to learn about cryptocurrency and the project you want to embark on.
I think what most people (including me) lack is the discipline to learn and practice consistently.
If you are disciplined enough we won't be looking for get-rich-quick schemes.
Thanks for sharing your thoughts and research 🙂🙂
Crypto's risk has to be painstakingly logical and come from a place of research and knowledge because it's a different ball game. This is why people develop strategies that suits them. Only the strongest survives.
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HPUD look good on you bro, I like the fact you power up1.2 hive everyday, that's a good method I'll like to adopt, and people who do not taste project before they go into, I think what they lack is foresight, just like those that didn't buys HEX, if only they took out time to study the project, they would have seen just like other's who Didn't buy, that that HEX wasn't all that good to dive in.
Maybe they lack were to obtain good info about crypto, nice post bro.
1.2 hive at least, sometimes it's more than that though, so in a month I have like 37 to 38 HP powered up from my daily power up. It's good, it's a solid way to actually build if you ask me. Thanks, I think the best decisions one can make is to actually do their research..
Thank you for saying this, 🙏
We must make our research to avoid panic and buying into shitty projects. Seriously most times I reminisce about my hive stake, it feels good
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This is true bro, I'm also happy for your investment, you've managed to put yourself in a very comfortable position. Cheers to attaining financial freedom when the bull market comes.
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Saying that people are the reflection of the crypto project(s) they're vested into is spot on! It gives you an inkling of their behavior, what they expect or stand for. FUDs and FOMOs are basically reactions that individuals project into crypto projects.
The average Hive user/investor is a long term thinker. I think it's embedded in the nature of the project. Happy HPUD :)
Thank you, I think the mindset of people sometimes determine the projects they're buying into. So this is why people are a reflection of the project they're vested into. This is why hive automatically turns it's users, community members and investors into longer-term thinkers. The project is just so solid.
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Indeed! Really understanding what it is and its potential, you gradually adopt the mindset of a long term thinker.
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Most person who are overly cautions when investing in projects can sometimes be those who have also fallen for some ponzi scheme,so with that mindset they think every other project especially crypto are ponzi schemes too. Let's take Bitcoin as a case study, when it first came on board as an airdrop to mine,some persons took it really serious while some didn't, they saw it as all part of ponzi scheme or waste of time and now they've missed out on the opportunity and are having regrets seeing how it became a coin that has worth.
That's why it is very necessary to make proper research when ever you want to invest in a project.
And in terms of the HPUD, I have been hearing about it but haven't really had a full understanding about it.. I think I'm start with this daily power up first untill next month where I join the main event.
HPUD is about powering up on the first day of the month and it's just a goal to help people establish a win-win situation. Help the chain, build one's goals in the process. So that is it.
You've stated everything in the comment. It's important to actually make research, Crypto is revolutionary but still, some people will be looking to build scam projects here and there.
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Yea...
Thank you for this detailed explanation about HPUD, I'll keep that in mind
Great job on powering up. As for HEX, there are a lot of red flags and I never really thought it was a good project to invest. I have seen quite a few videos showing how the creator avoids addressing issues and weak projects just don't work out that well. I saw the hype and the HEX people just keep talking about never selling.
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As for hex, I was definitely worried about the project. But I think it's more of advertising rather than anything solid underneath. I think there is now chaos in the system and this is not good for any project whatsoever.
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