Welcome to the cryptosphere!
It's definitely going to be a bumpy ride…
One moment, everything seems to be going along pretty much fine and then all of a sudden "a thing" happens and it feels like the all work that was slowly created over the period of many months or even possibly years is erased in one fell swoop… a bit like a big tornado can erase an entire town.
Feels Vaguely Familiar...
A lot of it reminds me of the "coming of age" process of the Internet — specifically, Internet business — some 20 years ago.
Something very similar would happen, whenever some seemingly major organization would all of a sudden be caught in a lurch and everything would be brought into question.
” How could this possibly happen? They were funded by billions of dollars, weren’t they?”
The thing I've always found to be a little disturbing about it all it's the way a single data point, a single failure, can bring into question an entire industry.
Guilty, By Association...?
In the early days of the Internet you would have a billion dollar company — we're talking about market caps here — suddenly heading South as it were, but the effect of a single bad apple would drag heavily on everybody else no matter how successful.
When these companies failed, their sudden drop in stock price also drag down alleged blue chips like Yahoo or Amazon or eBay. Consider successful tech giant Cisco Systems... lost 80+% of its value though no failings of its own. Everything gets tarred with a single brush.
Of course this all leaves us pondering the same question — or at least I think it does — how long will it take the perfectly sound projects to recover from the "guilt by association" resulting from a sketchy operation failing?
Now, I'll be the first to admit that I'm not a great expert on the exact situation that triggered the current precipitous drop in the crypto markets… But what I do know is that just a couple of days ago Hive was getting close to $0.50 and now there was suddenly a period this afternoon where it was below $0.30!
And yet? Absolutely nothing negative has happened at Hive, in fact we're just cooking full steam ahead like we were before this whole debacle started!
But let's be philosophical...
At this point, I'm mostly grateful that I am (a) a small investor and (b) committed to doing this whole gig in the long run…
If that were not the case, I might just be throwing in the towel and saying that this is just too unstable and too uncertain for me.
=..=
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