Hashrates, Market Sentiments, Adoptions, the State vs the Common Man, the Rich and other such banters.

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(Edited)

My journey into cryptocurrency started in 2016 and comparing it to my journey on chasing financial independence which started as far back as the 90s, I must say I have lost more in these short almost 3 years than I have done in a decade before crypto.

So this is my rant!!!

I had no idea crypto was tough.

Cryptocurrency was not thought anyone, it wasn't even accepted as real stuffs but as one of speculations and wild dreams by some nerds and geeks who always dream to create their own world on top the present layer we have. So, I think it is okay to say that, "I had no idea what it was, even if I got fascinated by the bangs around it."

Since getting to know more about it and what it holds and how it can make or mare you, I have become more aware of what risks to take and what risks not to dare consider.


Curse the ICO era.

I must have lost more than I had during the ICO era that was heralded by hype and a desire to make a 10x profit from a single token. of course some got lucky and really rich before the pilots of these schemes exited while many like myself have a shit ton of tokens in couple metamask addresses and cannot even sell or dump them.

I bought the scam and like my friends who dumped crypto after that with a promise not to go near it (they have kept to that promise and they seem to be doing fine), the journey is far from being over as we buy into the slide every minute.


Blessed!


Hodl right?

Yeah right! You have to hodl until you fold and for many who are not the regular man on the streets eking a living, it is easy to scream hodl.
The man on the street living in a nation where there are no jobs or amenities that will allow for productivity (I am on this list), hodling is a scam and it just makes it really difficult to believe what the story is about crypto.

Let me give an example.

I was one of those guys who bought EOS during its ICO and was happy because it was called a "good investment that will pay off in uncountable fold." Well, I hedl because we are supposed to hold right?
I also had faith in the system and bought some more just to see how I can get my portfolio smiling, nut instead, it cried and still is sobbing.

Fast forward after the release of the mainnet and the token soared as high as $22 and I still hedl because, the 'bloody experts' kept yanking off their mouths. Some even took a $1m bet that the price will hit $1000 by December of 2018 and like a fucked up flash in the pan, we saw the bottom getting to $6 and it was called a correction.

Further down the line, we corrected to as low as $4.5 which played itself like it would cross $10 on its way to $1000, but it never quite got near $22 and I sold some when I had to pay bills for $7.


What my point is?
I should have behaved like a noob and sell when it peaked at $22 and then hope it will drop and then buy in at $3, but I got carried away by the hodl mentality forgetting these types of tokens are for the rich..


For the rich and manipulating crowd.

Bitcoin and every other cryptocurrency is for the rich and yes, argue all you want, it is for the rich manipulating crowd and they make you do what you ordinarily shouldn't do in investment, behaving stupidly and holding on to some gambling ideas wrapped in fancy paper called "having faith in the market and in these jargon TAs and messed up analysis."

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The time of 10x series in crypto is far gone and as many enter the market, it is becoming saturated and eventually, it will be in the hands of the rich and powerful and they will use that supposed tool designed for the everyday man to rule over them.

Have you ever asked what drives the price of Bitcoin up and down the hill like jack who just couldn't get the pail of water up the hill without tripping over and breaking it?
I hear people talk about some hashrates and market sentiments which to the lame man on the streets is nothing but fancy jargon.

Every common man who bought bitcoin at its lowest with a hope to have some kind of financial independence away from what the state provides have all sold off. The power always returns and stays with the state and it is really messed up.
Financial inclusion is not everyone's right and for as long as we live, there will not be anything quite like it as long as the state exists.


Are we there yet?

I don't think so because, as we all know, the state is a machinery created by the founding fathers and because they went into the journey with a mind to create a system that will live for as long as we live.

We will get there and that is sure, but when is not anywhere on the calendar and no matter how we huff and puff, the state will always play into making sure they scoop as much of the common man's juice as they can.
Also, the super rich who enjoy manipulating the system and take so much pleasure in making everyone else seem poor, will do whatever to take as much advantage of the situation as they can.

Seriously, what drives the price of Bitcoin that it ultimately affects every other token in the market and leaves the common man struggling to be part of the system created for him?

And for the sake of being a 'good guy' who truly understands what goes on in the head of a man who just wants to make a living, stop shouting HODL! It is really quite annoying and doesn't help build user confidence.
Also, when will the usage of Bitcoin and other crypto become almost as free and easy to use as conventional systems?


Until this whole craze cedes and usage becomes really close to what the common man can understand and accept, we can never truly get the best out of the decentralized system. The system will always play against anything that stands as a threat and this one here is a threat.

Despite its "irrational behavior, mood swings, 10x minus slide down the table and charts all of which causes some serious loss of money to many," it is a ray of hope for millions around the world and I just wish we can all just freaking stop losing money in a bid to become financially independent.


I don taya abeg. It is really hard sometimes to have a wrap around what is going on in the world and the markets just spends sometime adding some layers of worry that really dampens hope.


Make the world a better place for someone today!



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3 comments
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Your perception will not help you move to move forward in this space.

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(Edited)

Did you really take time to read this article and understand what point I was trying to make?
There is what is called rants, banters and then personal opinion and because we don't share the same, should not stop me from having one.

Too many people pretend they understand what is going on and will never speak for fear of being called a "nonconformist" or one with a wrong 'perception of the state of things' like everyone else only to end up being burnt sour.

This article is formed based on my personal opinions and experiences and nowhere did I state that I was leaving or staying...

Despite its "irrational behavior, mood swings, 10x minus slide down the table and charts all of which causes some serious loss of money to many," it is a ray of hope for millions around the world and I just wish we can all just freaking stop losing money in a bid to become financially independent.

Stay Awesome!

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