Friday Finance 5/13/2022: Friday the 13th
It is time again for another Finance Friday/Friday Finance. This is a series I started where I talk about random bits of financial stuff that I have seen, gathered, or experienced during the week. I hope as a reader you find it informational, entertaining, or both. I also hope it can generate some good discussion and edify the Leo community.
Anyone else shocked that this week could end on any other day than Friday the 13th? It honestly seems pretty fitting doesn't it? I won't even try to pretend the biggest news of the week is anything but the huge Luna fiasco.
I got luckier than a lot of people. The small amount of money I had invested in Luna came from one of my NFT games. It was basically free money. I wish now I had invested it somewhere else, but you live and learn. Unfortunately, I didn't realize there is a 21 day delegation timer for the Orion pool that I was in. I expect by the time my 21 days is up there will be quite a few more zeros after the decimal point in the price of Luna.
I was chatting with @slobberchops the other day (about a separate subject) and it became apparent that my general investment strategy was quite different from his. He basically sticks to what he knows (sorry if I outed your secret there). I'm starting to think that might be the smarter move for me.
It's possible that I am over diversified and I need to to just focus on a few core holdings or at the very least a couple of blockchains. Most likely HIVE and WAX. I'll still have some tokens on other chains to start but as the opportunity arises, I can fold those back into my core investments.
Trouble in the UK
I saw this article the other day talking about how crypto muggings are on the rise in the UK. It's not really surprising that this sort of thing is happening. I was actually contemplating it last week and then this story comes across my news feed.
I would imagine most "smart" people have started using a hardware wallet and for the most part their funds are SAFU. There are still probably quite a few people who are using mobile wallets for some of their tokens. Prime targets for muggers.
Basically they either take your phone or force you to hand over your phone, have you login to your account and then transfer your funds to their own wallet. I have to imagine smart criminals would use and intermediate wallet, but who knows.
It definitely seems a bit more time consuming than the old fashioned way. I have to believe more planning is required than just having someone hand over their wallet and taking the cash out of it.
Either way, just one more thing us crypto holders need to be worried about or wary of!
Digital Around the World
I can't even begin to remember how the topic came up, but I was chatting with someone in the Leo Discord the other day and the subject of accessing something via a laptop came up. I brought up the fact that the majority of people on the planet with Internet access probably don't use a traditional laptop or desktop to access it.
This got me thinking about what those numbers might actually look like and if I was correct in my assumption in the first place.
I found this pretty cool website called datareportal.com and they have this section of the page called "Digital Around the World".
It has some pretty cool statistics on it and I think it is definitely worth check it out.
According to this page, as of April 2022 there were 5.32 billion unique mobile phone users on the planet. Additionally, in terms of Internet use, the percentage of users accessing the Internet via mobile phones is 92.4%. Even if you factor in a 10% margin of error, that is still a huge number.
A number that shouldn't be overlooked by developers and web designers.
I wrote a post a while ago talking about how I reduce the size of all my photos before I post them on Hive because you don't want someone waiting minutes for your post to load if they are in a area with poor reception on their mobile phone.
It is imperative that we are creating sites, apps, tools that are easily accessible and navigable by smart phones as that is what the majority of people are using.
Not to throw shade, but personally, I can't imagine trying to use MetaMask integrated sites like Cub and PolyCub on a mobile device. Even the idea of it makes my eye start to twitch. Yet people do it every day all around the world. Those mobile experiences need to be as smooth and seamless as the desktop experience and up to this point, I am not sure that is the case. Is it usable? Yes.
Enjoyable to use? Maybe not.
Final Thoughts
Call me crazy, but I am honestly not too sad or mad about this recent scene out of Hellraiser that is the crypto markets. I'm actually a little happy that it finally happened. People have been warning or calling it for a while now. That constant bouncing between $38K and $42K was becoming so monotonous and mundane that it was about as fun as watching paint dry.
At least this way we have maybe found the bottom and we can actually start building. These weak hands and uneducated investors needed to be shaken out.
My hope is that now we can move forward (and up) and start building again to be even stronger. One thing I do know about exploits/hacks/mistakes/events like this is that it is a learning experience. The lessons that can be learned from the whole Luna thing are plentiful, on a myriad of levels.
Many of you may remember that Leo is the perfect example of how projects or blockchains can learn from incidents like this and grow even better and stronger because of it.
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All pictures/screenshots taken by myself or @mrsbozz unless otherwise sourced
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