CryptoCurrency : May you live in interesting times…
And it’s nothing if not interesting in here.
Reading through this Reddit It is apparent how focused everyone is on short term price movements, obscure technical details, and shilling the latest thing. Often while participating in a long term strategy of holding. It is an utter contradiction.
All of this continually misses the bigger picture. Everyone is waiting for a bull run. But in order for that to ever happen, we need a flood of money into the market from external sources. (Not the current internal markets cannibalisation)
It was the flood of mainstream coverage and adoption that fuelled the 2017 bubble. Those who didn’t get in early got burned and many consumers heeded the warning from the fallout and left. It would take a big shift in dynamics to bring them back en mass.
The only way these dynamics are going to change is with large scale adoption. So until the technology becomes so easy to use and understand that your mother’s dog could buy biscuits with it, it isn’t going anywhere special.
The only other option is the world goes to hell in a hand basket, and this becomes the alternative for the desperate.
One final point, if you believe in a project, and intend to hold long term. Forget about the daily or weekly price. It has no bearing. Providing your position is base on some kind analysis of the projects future prospects. If short term gain and price movements are the main concern, forget about belief, it will only cloud judgement and execution.
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