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RE: Sunk costs and skin in the game

in LeoFinance5 years ago


I agree that investing time and energy into something, especially something as complicated as cryptocurrency and in this case DPOS, blinds you to the Cons sometimes and you see only the pros.Hi @tarazkp

I personally invested a lot into staking coins, which paid me more of the same coin and was blinded to the effect of coin inflation because I really needed a big score to fix my roof and paint my house.

I learned from those errors and moved on, but recently I have lost confidence in DPOS to protect my stake and any hopes of a big score after 2 years here are Pretty much dashed to the ground.

Now with this move to hive I see more and more the futility of some of what I do here and although I have learned a tremendous amount here I currently have no hope of a significant increase in price and even less chance of life changing gains.
While I continue to learn a lot I am still trying to create a lucrative vehicle out of the various pieces of knowledge learned here.

I don’t mean to be down on anything here. I am just saying that it’s time for me to realistically face the fact that this is just for enjoyment and will probably not change my financial status at all.

P.S.
I really envy the level of engagement you have.
I know it was earned through hard work, and well deserved.
Take care

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Same, after steem fiasco and many other cryptos I had been involved in, I find crypto space fragile, I don't care anymore.

Just don't stress, have fun and treat it like a game you want to play for a very long time :)

I don’t mean to be down on anything here. I am just saying that it’s time for me to realistically face the fact that this is just for enjoyment and will probably not change my financial status at all.

Perhaps this is the position people should start from?

I really envy the level of engagement you have.
I know it was earned through hard work, and well deserved.

It definitely takes time and at the end of the day, people have to be at least somewhat supportive to the overall person. I think that a lot of people are short-sighted in what they think makes them gains. Back in the days of bidbots, a lot of people bought votes thinking that they were making value as they got that 5-10% return each day, the problem was that they never built themselves truly into the community and it turned a lot of the serious people away from supporting them, no matter what kind of content they had. They rarely lasted. The ones that did build community are earning far past that 5-10 now and have closed the gap and surpassed most. The vote sellers however (if they had large enough stake) won a lot. rentseeking behavior often does well.

I think that a big score is going to depend on personal opinion, but I enjoy my time here regardless :)

If you have time, take a look at this post and tell me what you think of the opportunity. I think it cold be done on Hive natively with or without the side chain due to fast transaction times, no per transaction costs transaction cost and a system already containing micro-units of hive.
https://hive.blog/hive-169547/@shortsegments/light-nite-and-in-game-bitcoin-rewards-how-this-works-a-non-technical-overview