With The Crypto World Collapsing, Hive Is An Oasis
Hive never was sexy. We know that.
Nor was there even much pump to it. This ecosystem simply keeps plugging along without much hype. This is something that frustrates people from a coin perspective.
By the same notion, many of the things built on Hive are equally overlooked. Being a part of LBI, we know that Leofinance flies under the radar along with everything else.
Again, this leads to frustration on the part of many who use price as the barometer for what is being created.
This year saw a major turn in the world of cryptocurrency. Not only did we get hit with a massive bear market but the industry became completely exposed. As stated in the past, the incestuous nature between Wall Street, cryptocurrency projects, and venture capitalists was thoroughly uncovered.
The antics, which is par for the existing financial system, were duplicated in cryptocurrency. While a SBF took things to an extreme, it wasn't completely different from what Madoff and Corzine did in the past. Fraud is nothing new to Wall Street. The only question is if you are a banker or not. If so, you probably avoid jail time.
Nevertheless, here we sit. There is something different now as compared to the start of the year. The fact we are still around is very telling. Perhaps this is a metric that should carry some weight.
LBI's Consistency
One of the things about long-term success is the ability to remain consistent. Since the start, LBI has not wavered in its support of Leofinance. Over time, as the opportunities expanded within this platform, LBI took advantage of them.
At the same time, we keep using the basic fundamentals of Hive as a basis for our project. While it is not glamorous, this is a life saver. There is no risk associated with staking and curating. Posting of articles allows for author rewards to be gained. We are not leveraging things or playing around with insane tokenomics in an effort to squeeze out 10 or 20 more points.
And most importantly, we are not looking short-term.
LBI adopted the simple motto, "Get rich slowly". We know that over time, powerful returns can be achieved. Looking at the "sister projects" of SPI and Eddie, we can see how these keep paying out each week. LBI was in the same boat until the dividends were stopped. Now, the pot is filling up, hopefully providing more opportunities in the future.
Finance and markets bring a lot of quick hit artists. Many think investing is what they make it out to be in the movies. It is not. Anyone who approaches things from that perspective usually ends up broke. Bear in mind, there will be plenty of films made about SBF and FTX.
If you really want the key to understanding it, think of Warren Buffett. He is the epitome of boring, slow, and non-exciting. Sure, the fact that he is still one of the richest people in the world does draw attention. His investing style, is anything but. Instead, he looks for the likes of Coca Cola providing a decent return over decades.
Buffett is a huge proponent of compound interest.
He is methodical and consistent. One cannot see him smashing a keyboard over a drop in price. The reality is he neither owns a keyboard or watches price.
Crypto World Collapsing
We might now have seen the end to the carnage for FTX. Even if we did, who knows what the next bomb will be to go off. We thought that UST was it, then we find out Celsius was wrapped up in that.
Now we get FTX which took out Blockfi. Who is next on the list? We have no idea.
That said, we know Hive will not go bankrupt. At the same time, Leofinance keeps developing which is important. This is done in an effort to provide more features and utility to the projects already on the market. This is something that is critical to get to the next level. Often, people want to jump the user base without the ability to offer them something.
Leofinance, along with some other Hive projects, are building from the ground up. This is not sexy like a lot of what we saw the last few years.
The difference is we are still standing. For many others, millions (billions) in VC funding disappeared overnight.
As I tweeted out, "We dont need no stinkin' VC money".
Slow, steady, and consistent. Not glamorous but a proven path to success.
Just ask Warren Buffett.
Article by @taskmaster4450le
Posted Using LeoFinance Beta
