The Effect of the extremely volatile crypto market can not be underestimated, both large cap, medium and low capital investors are affected psychologically and everyone seems angry on the different Blockchain whenever a new project or one that seems like a competition is launched. That is why you will hardly go into any community and not find a ruckus, arguments and spiteful talks and these are mainly disgruntled investors who had been disappointed or impatient.
Wallstreet, Billionaires with lots of capitalists and industrialists do not believe crypto to be a secured and valid investment based partly on the extreme volatility in price and other reasons. Massive panicking comes as a price for been a token holder, most crypto enthusiasts lost their cool due to the extremely long bear run the market is trying hard to recover from. No doubts, crypto has its advantage but comes with some disadvantages too which make it seem like an unfriendly place for anyone new to the game. Losing investment capitals is dire, Seeing traders slander one another and notable names in the cryptospace call out each other to shame is not a palatable experience and that could be attributed to a mental state. The Steem Blockchain is a perfect example of these extreme hate and grumpiness, especially seeing steem fall in price from Grace to grass and never to rise again.
Many like me have been here close to three years, while some started way back close to a decade ago and i have seen first hand what malice and unstable state of mind that comes with a disappointing capital market is at a glance. What about the hacking and scamming? Many holders who lost their sense of purpose due to poor investment had resolved into any means necessary to recover some of their funds if not all.
Even though there is a huge level of insecurity, still there's too many crypto communities arising. Although a project without a community backing it up is prone to so many hiccups or failure. These community members help in token adoption and circulation, even though they don't get paid for doing the marketing. Therefore, they tend to take on any oppositions of their darling project and token. In doing this, so many heads have been stamped upon, name calling and scam alert raised. I have been banned in so many communities for asking clarity about certain modus operandi of a token, a lot of people have been labelled and blacklisted just for similar reasons and these is just a clue on the level of insecurities that also came with crypto.
In addition, a bull run seems like a bubble that is always trailed by a long bear run that seems to tamper with people's sanity and calmness, same thing goes for me. I am always apprehensive and agitated over my portfolio, not seeing it go up in value for me to recover all my losses gives me headaches sometimes and i strongly believe the same thing applies to thousands like me in the crypto space..
I am opinionated that there is a whole different psychology to being involved in cryptocurrencies, that is why it contributes to so many hates and resentments, people try to counter their disappointment in a project by going headlong with anyone who comes to slander such projects. Popular Bitcoin maximalist Anthony Pompalino was been dragged earlier today on Twitter, he was branded a "Shiller" and a scam for praising another $Alt aside Bitcoin.
To conclude, it is not clear if this is a going to end except if tokens ceased to exist. As more and more tokens are being created, there would be dwindling state of mind and probably the hates will reduce during a Bull run or that's when the hatred peaks. The chances of all this slanders and resentment going away is zero to nothing, seems this is another characteristics of the cryptocurrencies and its high time we all learn that the sky is big enough for everyone and anyone smart enough. Time is the biggest test most project will undergo, Steem has been tested and so we have a Hive, a Blurt and about to have a Zapata. Maybe and in few months we'll know what will become of our present state of mind if there's a Bullrun or another long Dip!
Thanks for reading.