Crypto: What Lessons Have We Learned?

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In times like this, it's difficult to not talk about the crypto crash that's currently going on. The worst of this is seeing the FUD tweets, WhatsApp memes banter, and even panicky posts on the internet. This exactly goes on to say that when crashes like this happen, people create even bigger emotional meaning, due to the loss that comes with it.

I've taken time to read FUD and hope posts lately and taking time to read it all has actually created a sort of balance. It's funny how some people will say crypto is the future and how it's their go-to solution for government excessive controls, against banks and even shortcuts to salvage inflation, and just three to four days later, they're saying they cannot rely on Crypto for anything.

What exactly changed?

These same people spoke about buying at a certain higher price, but suddenly when they're presented with an opportunity, an actual crash to buy lower, this is when they'll begin to pull the rug even when it makes sense for them to buy.

But sentiments and fear are why crypto and the approach towards it is hardly logical and this is why they will believe that what's high eventually keeps going high and what's low would eventually keep going lower. I know fear can stifle belief, but for crypto, we have people who have seen three to 3 bull and bear markets respectively, yet they remain weak hands, why is this?

Weak hands, make weak minds

Why is this?

This is because they actually didn't grow in mentality, lessons, and experience, except that they made some calls and the Market was there to reward these calls. It's crazy, it's not surprising to see people change, I mean, money controls and determines stances, opinions, and emotions, and it takes deep affiliation for Crypto and its underlying projects to actually see the flaws and failures but still create plausibility for betterment.

Weak hands are the worst actors in Crypto, but I guess they're necessary evils and even if something huge as a crash initially sends them away, it's surprising how they keep existing after they've been washed away.

A bigger issues.....

But we have to understand that the world is currently in turmoil, some of the big entities in the centralized worlds have been making crazy decisions, meta to sack 11000 people, and Elon musk already laying off people from Twitter. The FUD fire is spreading as well in the centralized world, it's generally my way to affiliate whatever Crypto is currently facing to a bigger world economic scheme.

But I know that we have our issues. I try to refrain from talking about #ftx and #binance. I've spoken about how the centralized aspect of crypto is always its Achilles heel. I also try not to talk about CZ, because with the moves he's making, he's created an inevitable entity, a god-like figure in crypto, just like Elon musk tried to do and we saw the impact.

Centralized Exchanges Must Do Better

They're a necessary evil at this stage of crypto

I think it's time centralized exchanges stick to their onions and start working harder to shore up their business, rather than sitting their asses down and creating a plunge in the market space. The worst event in crypto has happened this year and these guys are not taking the time to learn from failures, we have egotistic people in the crypto space who are playing yo-yo with investors' funds by not doing the necessary things to prevent some worst-case scenarios. It's time these people become more accountable.

Seeing imaginary lights at the end of the tunnel

We're beginning to sell the true essence of decentralization and how it's necessary to maintain stability, I guess it'll take many incoming failures in the future and the present for the lessons to be learned. We're currently learning the hard way and we've had the exodus of Luna and now FTX, I think another massive exodus might kick us in the nuts, this is why I think it's time to change things. We're solidly growing one for the future here on Hive, and with everything, I'm holding on to the faith, we're going to come back stronger.




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19 comments
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Some tough lessons with high tuition fees but worth it. We need definitely need more decentralization down the line.

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Tough lessons indeed, I think centralized exchanges have done their worst this year and this is why a change is needed.

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As much as the situation sucks and is uncalled for, I see an opportunity of buying tokens at a very cheap price, I have fiat which isn't even enough to pay my next rentals, and I almost felt the urge to use it to buy the dip yesterday but had to refrain.

The lesson here is for us to be less reliant on CEXs and prioritize DEXs otherwise we will be giving power to central power in the crypto space which isn't the plan from the onset.

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I actually don't even have any fiat to do anything substantial, in reality, I think I might just channel some HBD to buy hive. It's really cool to see the community buying and powering up hive. If you cannot buy, take care of the rentals first. It's crazy out there

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with everything, I'm holding on to the faith, we're going to come back stronger.

This is all we need right now not the fright.

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It's funny how some people will say crypto is the future and how it's their go-to solution for government excessive controls, against banks and even shortcuts to salvage inflation, and just three to four days later, they're saying they cannot rely on Crypto for anything.

Many of these people do not have their mind or their hearts in them. The reason it is this way is that the projects some of them support were just a Ponzi to them in the first place.

I think CZ is just the kind of hard worker the crypto market need and he is holding a lot in place. That guy works 80-hour weeks. And that is the most impressive thing about him and

Nice work summarising things.

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Cz is crucial and probably inevitable in Crypto provided he's alive, but they've got to do better, sincerely they've got to with the whole thing, the centralized misconduct is getting too far, backing out of the FTX deal tanked us further which isn't really good. But well, he does really good for crypto in general.
As for the these people, I guess we'd always have weak hands

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Nothing has changed and I think people don't really realize that we are still in a bear market and recession. There will be a ton of companies or projects that fail if they don't have a sustainable model. I still think BTC and Hive will be around when we move back into a bull market and that they will succeed. So I continue to act the same as usual.

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Stunning, I like the mindset, I'm also acting the same as well and the reason for this is that I believe in the model of Hive and BTC. I think the whole thing became really bad because of the bear market and recession

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These same people spoke about buying at a certain higher price, but suddenly when they're presented with an opportunity, an actual crash to buy lower, this is when they'll begin to pull the rug even when it makes sense for them to buy.

I agree, it's like when someone is looking at an expensive item wishing to buy it. And then here you come, as the owner/seller, giving a huge discount and suddenly that person was suddenly decided not to buy it. LOL.

Though, in a way, I understand them as well. As a matter of fact, if not because of Hive, then I would still be one of them.

I believe that the main issue why there are some people panicking at times like this is they don't fully understand what they are investing in or they might have invested an amount they can't afford to loss. Another one would be more of a psychological - an increasing price looks appealing as it gives the impression that it will continue to rise. The opposite also gives the opposite impression.

!1UP

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But then, we've managed to see bull and bear market rise again. If people could back and support the projects they're vested in, it'll do a whole lot of good for them and for the coin too. I agree that when a coin looks like it's going up, it means profit. We have to also consider the fact that our actions are important

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But then, we've managed to see bull and bear market rise again.

Agree. But for some people, they would not think of that when their survival instinct kicks in makes them jump in or get out of a project without thinking. But then again, I cannot blame them as I believe it's a natural human instinct. An survival instinct that doesn't necessarily apply when investing in crypto.

If all of us can only take time to know what we are investing into then the more of us would stay and support that project even in this kind of grim situations.

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They're a necessary evil at this stage of crypto

No, they're not. We could do better with DEXs and crypto payments for everyday spending.

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Well, we might just take time to transition into this. In the Cryptosphere people are likely to use what's popular rather than what is needed.

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Good analysis, especially around the weak hands who never learn regardless of how many bull and bear runs they have seen. I dipped in for some discounted Tech stocks a few days ago and am very happy with what I picked up. It may be a bear trap right now, but I'm in them for long investment of 5 years plus, so not worried..

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