Even on bears, during hard times, crypto serves a good emergency buffer
Here we go again, another FUD, another whale stunt flushing out spinach hands....
But even during such an unprecedented age, for those of us who are in early in crypto and believed that this technology can be the future even years back (before HIVE evolved and birth from STEEM) many who didn't try to SHORT the markets would have found themselves still benefited despite of the downturn and bloodshed market that seems to be rampantly spreading worldwide into the traditional markets.
Particularly this year it has been a very tough year with high tides for me and my family: from Covid to most recently my mom had shingles resurfacing due to low immunity (after all the covid attacks - seniors are harder to recover), earning crypto actively / passively has become a buffer of assistance when I am unable to go for my day job and with a 30% wage cut along the way because of the pandemic.
Fortunately even HIVE has taken a hit this round, because of the new announcements of moving forward from #hivefest , it is still indicating strong enough compared to STEEM that is barely moving (but still grateful there was still some resources left behind to use for emergency)
Even with the HIVE Ecosystem, #Splinterlands evolving well, passive income like these are definitely a major benefit for HODL opportunities.
By building a local community support with these projects in various ecosystem, internal trade with locals of the same ecosystem becomes easy because there's local trust and everything is still staked within, out of centralised custodial bounds.
No doubt projects could rug pull stakers and investors, but long term standing projects like @splinterlands with a huge community backing serves a great emergency reservoir if there is a need where people can have bigger confidence in HODL-ing in stable projects.
Not to mention P2E is a thing now!
With the recent hit in my fiat wallet, I am grateful that @gtpjfoodbank is able to internal trade with me between HIVE <-> SPS for the very purpose that this was reserved for emergency while helping the rest of the content creators here alongside helping to spread more awareness to the world about the struggling families.
This is the very fact that why educating the layman about crypto and its benefits (besides ripping profits from mere trading) is really crucial! No one knows what could be happening next and you may never know, that crypto could just be the helper in the nick of time.
How about you?
Are you just writing and earning actively just to pay bills, or you are expanding and HODL-ing for future much more potential disastrous circumstances; or a bit of both?
Do share your thoughts! I appreciate of feedback in how crypto is assisting you in your life too!
Until then
Posted Using LeoFinance Beta
You are right crypto is doing so good comparing to hard times that we are living in.
Yeah, and those got in early at least have this to stay afloat for a while.
It is our pleasure to be able to help @littlenewthings. Thanks to you, we got into crypto early and we can be of help back to you during these emergency days.
Thank you so much for having the confidence on the HIVE chain when its value was low and it was still new! And thank you so much for approving my internal swap with you
Currently just HODL
But it is on standby in the event but it last resort
We haven’t shopped apart from the absolute necessities - trust me when I say you don’t want to see our underwear 😂🤣
But absolutely #blessed that we are still able to
Here’s to Mum getting better and feeling better soonest
Underwear.... hahaha... too much information my dear! 🙃🤣
But yes. I am actually swapping because I am running low in fiat due to the fact just the clinical visits have rounded up close to 1,000 MYR, apart from buying supplements, probiotics and proper food just to feed 2 seniors and myself.
This inflation is really getting ridiculous.
LOL - wanted to make you laugh :D
It is getting a little much
Fingers crossed something's gonna give!
hahaha. Thanks so much for being so sweet! 😘