As the crypto currency industry progresses it is getting more and more competitive to survive the bear market for a few reasons. First of all just a buy low and sell high strategy isn't going to give you as big of a multiple as it would have if you would have went all into Bitcoin in 2015. There wasn't a lot more that a person could have done besides mine and stack or buy and stack. The industry evolved to where it takes more complex strategies to maximize the potential of the money stacked or mined which becomes the new threshold. Miners having massive bags just sitting there doing nothing waiting until the next bull market doesn't make any sense. A lot of miners have went out of business trying to utilize that strategy because the bear market is so brutal that they are either running at a loss or barely breaking even. The larger you scale with these mines you gain some economies of scale but then you also create a bunch of new problems. Suddenly you have to build all this other infrastructure to move all the hot air or try to cool the area down. You also likely suddenly need more employees to manage the mine and your building either cost a bunch of money to house all this equipment. At this point you really can't afford to just be sitting on coins in cold storage that aren't earning some sort of return.
Also on a smaller scale there is an army of people teaming up to work together to get rewards from chains that offer rewards for blogging or doing other tasks on various blockchains. People providing liquidity on DeFi platforms and people using advanced DeFi strategies to maximize their output.
All those legions of people taking positions and teaming up to build their stacks are going to compete against the next set of n00bs coming in this next bull market. Some of the n00bs will catch a temporary windfall but then will often either follow bad advice or think they are an expert after two weeks of being in crypto.
Brilliant 👍
Thank you!
If people many just realize the correct time of when to sell and buy back, it will serve them good but with distractions like watching an influencer will make their plans get out of track and do catastrophic things.
Also the emotions that we feel during bull run and the bust periods makes do erratic decisions, so it is a thing that complicates things with regards to losing profits plus the capital we inputted in the hope to make money.
Generally in long term perspective, we can look at bitcoin's price movement between its boom and bust cycles where it forms a big cup on the graph and it can also be our guide of when we should sell and when to buy back.
I do not hold much cryptos but I am already happy that I am already relatively rolling with cryptos that I am actively involved in and anything else will just be a bonus with a chance of achieving greater things all because of bitcoin. @brianphobos😀👍^_____^
Well you are keeping the flow going on these blogging platforms which is great. Those will be some pretty good stacks.
Yes Sir I am just sticking to the niche where I belong with and not exploring other crypto things which is too complicated for me to delve into because of additional risks that also comes with it where also some of which will just turn into a thing of the past.
It is just better to stay into cryptos that solves human problems, decentralized, and with community backing it. 😀👍🏽^_~
I’m hoping to pick up some cheap land up in Michigan and Ontario.
Beautiful country around the Great Lakes.
Yeah it really is...... to me it is some of the most valuable land. Tough to get solid access to the lake but when the economies of these countries completely collapse it should be a lot easier. My goal is to have property up there and property in other countries as well. I might as well go for properties in a few different countries.
You should also share your videos on Nostr … get Satoshi Tips on your posts… and link back to your Blurt.blog
I will have to get set back up on there.
Yes, it has been a very long bear. 🐻 This is my second since I bought all my Bitcoin back in early 2017. My plan is to keep stacking Bitcoin, Blurt, Steem, Dtube while they are cheap and Power up to earn more with staking and Delegation. It’s great that I can buy all 4 of these coins on Ionomy without KYC.
Yeah, KYC is a scam. I primarily avoid it. Kucoin sent emails to do the KYC so I abandoned the account.