BTC and ETH groups work against crypto
You might have heard about institutions buying in on BTC at 30k and how proof-of-work mining is done by very few, but incredibly large, groups. Add market manipulation by industry giants like Tesla and Elon Musk via gossiping on Twitter. Don't set aside Bitcoin's development team deciding to not scale Bitcoin all the way back, during the Bitcoin Cash hardfork.
These three elements baked together will result in a delicious recipe: BTC and ETH are completely centralized. Every small investor is being milked. All the transaction fees are one gargantuan trap. Of course, this does not mean you shouldn't invest in BTC or ETH. They can be profitable if you are informed and lucky enough, but it absolutely will not make you rich now.
Grinding money on these coins is as hard as a full time job, but less profitable more often than not. Time is money, so you are not quite wasting your time or money, but you could be doing it way more effectively through less media-driven blockchains and apps, but mostly importantly, by using more peer-to-peer, fee-less trades.
Exploring possibilities in front of you are what allows you to turn the world into a less decentralized place. That's where you can thrive. Join some Bitcoin Cash and Litecoin communities. Learn how Binance Smart Chain operates. Avoid defi. Be active, because being passive is for those who have too much money to manage it all.
Interesting thoughts... it appears that you've been burned in DeFi already... Can't say I'm surprised, there's a new scam and a new hack at every corner. 😵
I have no idea what you mean. Are you saying maybe I lost my investment? No, I did my research on defi and decided not to invest in it. No worries here. I don't do "influencer" posts.
But maybe that's not what you meant? Please explain.
Ah, I thought that you had been rugpulled or something like that.
Everyone on the main coins is being rugpulled, though.
Nah, it's a correction of 70% or 80%, we're used to them. 😆
I'm talking about what I described in my post, not corrections, though.
i endorse this message. i think a lot of people are distracted by the mainstream coin and lose sight of the real gems... i am glad I discovered this place when I did.
Hive is quite a different experience indeed. It has a lot of perks no other blockchain does.
Yes...Proofofbrain, Noise.Cash, Blurt and many other great options out there.
There's a BCH smart chain being built I'm very excited about.
That last sentence really got to me.. Even though I've been moving funds to BSC DeFi (CUB) I'm also trying to keep more USD liquidity in order to take advantage of price lows and investing in projects I see might have a future.
I still see yield farming in BSC as a good opportunity to generate income, with a pretty low fee.
Posted Using LeoFinance Beta
Yes, BSC is a good alternative. It is developed by a group trying to take some centralization away from ETH. Diversifying is great. But it does show how the most popular projects make crypto "gang wars" now.
You might be interested in looking into Polygon (Matic) fast transaction and low fees on Ethereum.
Owner of Crypto & Coffee Community
https://peakd.com/c/hive-146596/
Looks a lot better than BNB...
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