I'm sure I'm not the only one who felt happy when I checked in and suddenly noticed that our native Hive token was suddenly trading at $0.55 and change! Yay!
Of course we've seen these sudden runups lots of times before, so I'm fully cognizant of the reality that it's very likely that we'll give back all the gains over the next few days.
Seeing spikes like these always makes me think about the overall ”hit and run” mentality that seems to permeate the entire cryptocurrency industry. It makes me a bit sad, actually.
People are quick to rush to "the next great thing" they see, but as soon as any kinds of clouds gather on the horizon they immediately head for the hills… probably to chase the next big score.
That's all well and good, and I suppose we can attribute it to human nature and greed and various other things, but the side effect seems to me to be that we are always dealing with this extreme volatility.
Maybe I'm just ”showing my age” here, but when I originally got interested in crypto, it was because I saw the potential of borderless and trustless payment systems, and definitely not because I sensed an opportunity to score a quick buck.
Unfortunately, it sometimes feels like the entire industry was hijacked by Wall Street greed and so many have lost sight of why they got involved in the first place.
When I look at some of our ”local” projects — LeoFinance's Cub Finance comes to mind — I can't help but think that one of the primary reasons why the associated tokens have lost so much value since their inception isn't about them being dubious projects, but about those who put their money into them having short term expectations of a long term project.
I suppose these sorts of things happen in virtually all forms of investing, although I have a feeling a lot of this tendency also has to do with our modern times.
Just consider the real estate technique of ”flipping.” When I was briefly involved in the property industry back in the 80s and early 90s, the majority of the emphasis was on buying solid rental properties renting them out and developing cash flow. Since then, it seems like there has been a tremendous shortening in the time horizon… to such an extent that people now don't even necessarily buy rental properties to rent them out, but to turn them into Airbnbs for just a few short term rentals.
Makes me wonder why it is we want everything to move so fast?
And I say that as an increasingly old geezer for whom time seems to be moving past faster and faster!
Regardless, one of the pieces of wisdom I was given many years ago is that no matter how you turn it and what you do with it, a day still just has 24 hours in it and those hours are just as long or short as they've ever been. There is no such thing as making ”more time.” And by eternally trying to jam more content into the same amount of time… in most cases, what we really accomplish is to subject ourselves to more stress!
In the meantime, I warily eye the price of Hive and wonder when the short term balloon is going to pop… AGAIN. Not that it matters, since I am planning to stay with this in the very long run!
Thanks for stopping by, and have a great weekend!
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Created at 2023-02-03 23:11 PST
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