Trade it, Dont Date It | Never Get Married to 1 Blockchain

Hello SPIers, today we talk about keeping an open mind about crypto and not getting married to any single one.

Within crypto, we see alot of tribalism; as a result, we get hard forks and new crypto being released. Look at BTC as an example, it's been hardforked dozens of times, the best popular being BTC cash and BTC Gold. Even HIVE that we use daily is a hardfork of STEEM from when Asshole Sun took it over and F'd our community voted witnesses in the A with his stake.

If you are reading this you are probably bullish on HIVE, maybe HIVE is the only blockchain you use and there's nothing wrong with that but long term, using more than 1 blockchain will be required to stay in the game. HIVE is an excellent training blockchain because HIVE has pretty much everything that a blockchain like ETH has. The transactions and fees on HIVE on much better but defi and 2-layer stuff are more primitive. We have DEXs, AMA's, Defi, Gaming, NFTs, Gambling and hundreds of other Dapps just on a smaller scale.

It is very easy to stick to what you know and become married to 1 blockchain and be a fanboy but this could get you wrecked. I dont mean wrecked because your bags could always be increasing but you could be missing out on alot of opportunities by focusing on 1 blockchain and becoming overinvested in it.

They say "Trade it, dont date it"

This means, never marry 1 investment. In our case, this would mean blockchain. In the future, not everything will be on 1 blockchain so not everything will be on ETH for example. In 20 years, I believe different blockchains will do different things. ETH might be primarily used for Defi, SOL for Gaming, ARB for verifying documents, BTC for storing value, etc. Each blockchain will be able to do everything but each blockchain will primarily specialise in 1 area.

We love HIVE at SPI but if someone were you to pull the plug on HIVE tomorrow and everything HIVE related, all wallets, HE wallets, all gaming, etc was to go to zero, SPI would still retain 43% of its value through its none HIVE holdings.

This will never happen but look, 5 years ago we would never have thought that Dirtbag Sun would buy out Dan the man and we would have the fork STEEM to stay decentralized. We can't think never will not happen in crypto or investing for this case. 5 years ago, we would never have predicted COVID and global lockdowns for 6-12 months in most countries (best time ever BTW!). The result was massive profits for online-related everything. Dot com bubble v2.

It's a crazy world out there and crypto is even more crazy because it's not regulated yet. Even if you dont plan to transact or spend time on any other blockchain other than HIVE, you should as a smart investor be invested in a few other cryptos. If you dont know which ones and you are too lazy to do research, my simplest advice would be Gas tokens. Layer 1 gas tokens like ETH, BNB, SOL, ADA, AVAX, DOT, TON, etc. These are blockchains that let people build smart contracts with the token being used to pay gas fees giving it, its use case. ETH is the best because it's deflationary.

As we head into this coming bullrun, dont have all your eggs in 1 basket. Different blockchains will have different use cases and if you are married to one only, you are leaving yourself wild open for a shit-hitting-the-fan scenario.

Thank you for taking the time to read today's post. Have a great weekend everyone!!