Who needs bitcoin to do a blow off top thing?


It's funny... 4 years ago I was staring at and tracking every single move bitcoin did. I was very influenceable by the day-to-day market movements, especially of the big dog.

Today, I don't seem to care. There are days in a row I don't really know what the price of bitcoin is.

potgaa81ecbe8_1280 1.jpg

It's true, it amounts to something between 5-10% of my portfolio, including all liquidity pools and pegged tokens. So, the only thing I need to worry about is that old saying: bitcoin sneezes and the crypto market catches a cold. I wonder if it's still true... And if it is for how long?

I am way more responsive to the success or lack thereof of something like Splinterlands. Understandably, I have a high stake in it.

But since 4 years ago many things changed for the better. For me, but I assume it's the same for everyone who sticked around. I don't actually assume, I know enough cases where things changed dramatically for the better over a market cycle.

Obviously, we are all more experienced in the crypto sphere. Back then I did possibly most mistakes in the book, except taking part in many of the conflated ICOs. That one I missed.

Not to worry, I haven't missed the over-hyped defi and especially NFTs this time around, but on average, they seem like an improvement over ICOs. And they still continue to innovate and then mature. And they have done both, compared to their initial attempts.

Another thing that is easily noticeable: almost everything you do in crypto to contribute to a serious project, ends up rewarding you heavily.

The rewards doesn't have to come immediately, and in many cases you don't even know there will be rewards. You just do your thing and end up with a ton of benefits.

On Hive, for example, reward pools are known and they are distributed every day. But that's not the only way you get rewarded. You'll also find one or more communities where you fit in and people that will likely become your friends over time.

And every once in a while, you get a lot more than a pat on the shoulder for your long term activity. Airdrops and claimdrops get thrown at you from every corner of the ecosystem. You experience the age of abundance. Now, not in a decade!

And that doesn't happen only on Hive, although we are biased and have quite a few of them lately.

Remember when all bitcoin forks used to drop their bitcoin version based on your holdings of bitcoin core? Even if you sold right away for bitcoin core, that was free bitcoin.

Not so long ago, remember the surprise Uniswap users had when they received a sizeable airdrop, based on their trading on the platform?

Airdrops are quite common in the crypto gaming world too, to attract fresh blood.

Recently, I discovered (thanks to @jk6276) ATOM stakers on COSMOS regularly receive airdrops. I assume other ecosystems are not taking exception to this practice either.

Bear markets don't feel like the age of abundance, but they are actually the key to it. If we experience another bear market (it might be the last "classical" one, if we'll still have one in that sense), that's when your consistency builds for the abundance to come. If you've been through a full cycle already, I'm sure you know that.

What I find interesting is that Facebook prepares for the metaverse, but hasn't reached the age of abundance yet... Maybe someone should let Zuck know what will come first.

Posted Using LeoFinance Beta