Yesterday was the worst single day on the markets for my biggest ever single loss of value.
Practice what you preach.
It is best to take the approach that everything can go to zero and while I felt that knot tighten in my stomach - stiff upper lip. This is the cost of playing the game and some games are more expensive to play than others.
I used to game a lot and spent thousands of hours a year in front of a screen. not much has changed of course, except the game. I just noticed that my total post count on Hive clicked over 40,000 and was thinking about how many hours that translates into, considering that 4000+ of those are top level posts and are generally at the lengthier end on the platform and my comments aren't necessarily short. In January I will have been on platform for 4 years and the hours spent here must be enormous and probably, more than I used to spend gaming.
Is it worth playing the game?
While I didn't spend much gaming and have put far more money into Hive over the years, there was also no return on my gaming other than the "fun of it" and the social side of hanging out with one of my brothers who would also game a fair bit back in the day. Other than that, there was actually a social cost to my gaming in regards to my relationship with my girlfriend at the time, as it did occasionally become a point of contention.
Admittedly, over the year, my time writing has also been a point of contention, yet there seems to be a subtle difference in the conversation. I do not think my wife would be nearly as forgiving if I was gaming, but since there is the potential for some returned value on the time in Hive, she is slightly more willing to see it as a healthy hobby. It is funny how a little money changes the frame of the game.
Whichever way I look at it, I feel I am far better off having picked up the Hive and crypto game over the last years, as it not only has the potential to provide an income of some sort, it also has given me a hobby that I feel has helped me become a more rounded individual, as well as a better member of my communities, on and off the platform. I don't think online gaming improved me much at all and I don't think it had any positive impact on my communities. Maybe it has for other people.
But, there are costs to the crypto game and one of those is coping with the sense of loss, as well as managing feelings of fear and expectation. As I see it, these are things we should be developing in ourselves anyway, so may as well do it with a little skin in the game with the potential of a ROI. I wonder if a lot of the way people play online games would change if there was the potential to lose money directly, not just time. I would assume that even at the low levels, people would change their behaviors quite aggressively. I look forward to it - we are paving that road now and will see it take more of the limelight over the next couple years.
There are something like 2 billion gamers in the world - how many are really willing to put their skin in the game? It seems that people are willing to pay the purchase price, but what about more than that? Yes - Yes, they are. The mobile games with in-app purchases are already driving the change, but they aren't returning much to users. Once there is ownership of the gaming experience available however, I think that gamers will start being far more serious in their approach.
Gamers get vile when they think someone is hacking - how will they react to a loss of money?
Crypto is a fundamentally different game because of the money involved though - as while gaming itself is pretty well sectioned off from other aspects of daily life, crypto lays at the core of much of daily life itself - economics. It is far easier to come to terms with the loss of time played, than money lost - even though as they say, time is money - which isn't actually true, it depends how you spend your time as to whether it is worth anything or not. For the most part, we spend our time consuming, which means our time is money except it is money for someone else.
For me, the events of yesterday represented a massive loss of time and energy on and off the platform, but that is the way the cookie crumbles, so best see what crumbs are left to work with.
Taraz
[ Gen1: Hive ]
Posted Using LeoFinance
I saw some 'woe is me, the sky is falling' bits on discord this morning, so I actually checked the price, a thing I do very infrequently.
Now I am pissed because I don't have ANY disposable money to put in the game.
Ah well. It sort of surprises me that crypto and the stock market both dumped the same day. Generally speaking I thought they worked counter to each other.
Though I have a good friend that is a stock trader and he says 'pay no attention to Monday and Friday. Those are dickhead days, the real trends are seen Tuesday through Thursday.' Monday and Friday he considers fear or euphoria days.
I think they should and in the future I hope that there will be a decline in one and a steady increase in the other - the system is very broken but will keep getting propped up until the giants have squeezed everything out of it.
Interesting about the monday to friday thing - is it because of announcements?
It's because of the 'feeling' people get during the work week (Friday) buy or sell. Monday is the day after they have had two days to contemplate the good or bad news. He says the stupid money is in play those two days.
I had a conversation over this post with the wife about how it would be great to follow this dip and throw a hundred in at the low end. Not in the budget this week she says, but I may throw in an executive order on her. I still do run the show... I think? lol
Posted using Dapplr
Let's see how it goes - the bottom is hard to pick - as is the top :D
I feel you, but we must separate two things here. Gaming (in Hive) and investing.
You can game completely for free in Hive with all the above mentioned benefits, and only gain from that if your expectations and time spent on site is not clipping normal hobby aka fun time frame. And you are investing way over that so i suppose you are not driven merely by the act of gaming, but have expectations for financial gains and that totally changes the subject.
While a very interesting paradigm, that might possibly iterate to some really good use case, for now it is still experimentation stage. Not really usable for anything than to spend some time and socialise with few strangers based on common interest or etc... Desired content is hard to find, and just a few authors posting quality and engaging content. There is opportunity cost and all that blah blah blah, considering how much time you have to spend to engage with the community properly.
Rest assured it is fun if used moderately, some opportunity sense for financial gain, some playful hedge if very small portion of your disposable income is involved. Other than that it can get frustrating. For the financial part i trade hive btc. It's much more profitable for me than creating posts and engaging in hope for upvotes. In other words i can earn much more hive by trading than participating in Hive community. As for the fun part i do it as long as i love it. Get best from the both worlds and i am happy :)
I used to participate much more, even came up with an idea how to get real world adoption and get so many more quality content creators, started an initiative BeScouted that failed. At that time it was Steem, i failed to get support from Steem Inc, my project was never mentioned in Steem development as Steem DAPP and i have abandoned it. What i was building was not a DAPP per say, it was a mix of centralised entity with Steem rewards, so maybe it was discarded because of that. I am not a coder so i can not join directly. Anyways it is getting too long and of topic.
Bottom line, while it is promising and fun when used in moderation, i would never ever invest my money into something that is inherently broken. We will continue to see voting circles, whales raping the reward pool etc and while there are some really nice guys with great initiatives, just they are too few.
Bottom line, i am not selling my Hive for fiat, but i am not investing my fiat into Hive either. Other than that, keep your hopes up, have patience and who knows, maybe some day we will see Hive 5 bucks or so again, and you will be settled well :)
Enjoy doing what you do, i enjoy quite a few of your posts though i am not a big reader of social media myself.
Cheers.
Most are likely in the same boat, however I also think that the participation adds a layer of enjoyment to the buying. I don't have fun trading - I have fun trading Hive as it is connected to my hobby. There is a difference imo.
Have you seen the NFT showrooms and (I think) there is one for photography?
It is funny though isn't it? People invested into Facebook with essentially the same mechanisms, albeit, they are hidden from the frontend view.
I like the process and engagement here and have never been a fan of the traditional SoMe platforms, though I have used them enough. Now there is an option that suits my style and thought better - I am not planning on ever going back.
!ENGAGE 20
Well in that case i see no reason for stiff lips and regrets :) Just enjoy it :)
ENGAGEtokens.I think that writing is rewarding by itself especially for who is practicing it as a way to express emotions. The bonus which comes with it is extra. Imagine that some people spend the same amount of time on other platforms gaining nothing that a voyeur's pleasure to sneek into other's virtual lives only.
Not only this, what they see is no reality at all, but act as if it is.
True!
Here for the long term man! many days like this have come and gone. Can't be shaken no more. I just hope to get my hands on some extra cash and buy even more! :D
This is the most annoying part for me - All my cash is tied up in a stupid house ;D
I feel you man! that house has put a lot in your plate right now.
Yeah... I did t lose much only because I don't have much to lose. And the way I see it is the time I invested in hive has not been wasted because I enjoy it and it's better then sitting zombie like watching mindless TV.
I still believe it will all work out good in the end for those who stick around.
A lot of people get scared, especially if they have some reliance on the funds - others keep laddering in :)
I was fortunate yesterday, I had a few HBD's saved up from the last months activities, and traded in several for some hive, at over a 5 to 1 ratio. 4 days ago I converted 2 HBD and only received 8.474 for the 2. So yep yesterday was a good day. Today Hive wise also not to bad, I actually had a post payout and got 5 Hive for it, yeah the dollar price value on the post dropped from over 5$ to 4$ something, but I got more Hive.
Now I wish I would have been more busy making a few more post last week. It has been awhile since one HBD was worth five Hive. As I type this I am still thinking about converting on the internal market my last 2.something HBDs. In fact I think I will.
This is what I was actually going to post about - people also post less on average, so there is more Hive up for grabs.
yeah, this is the way of the world - sometimes the stars align though :)
Big investments equal to big impact - either way. I never spent time gaming. I don't know why I never got into gaming. All my friends enjoyed shooting people but I was more into reading sci-fi fantasies - a true nerd in the north :)
My wife does not complain my time on Hive as she knows I am doing nothing other than reading and writing. She does not care much about crypto but she is concerned how much I am involved in the platform. I hope I can show her the monetary value of the engagement - a nice (expensive) gift would do :P
Posted Using LeoFinance Beta
Yep - this happens. My wife used to post here, but stopped as none of her friends are here. This is one of the strangleholds the centralized platforms have and a catch-22 problem for the rest.
Expensive gifts help ... my wife is still waiting.
I opened an account for my wife. As you said, she is not very keen on engaging with others without knowing them. It is not usual for many people out there to strike conversations and sharing their information.
However, I forced her to at least share her actifit steps. She is doing that. She reads your posts because I always engage with them. She upvotes but never comments. And, with her ongoing PhD I cannot force to spend her precious time where it is not absolutely needed.😇
It is funny because on most platforms, people do share a lot with strangers, even though it is normally friends and family who engage.
It is a good start to have people posting something, later they might want to expand on it. At the worst, it will be a waste of a little time - at the best, help change the way social media operates for the better. :)
For sure but first, I will let her focus on her research to find COVID vaccine 😆
I won't take it ;D
It's not been the best past couple of days, but after the past couple of years it seems easier to take it in stride. Long term, long term... :)
I didn't know you were an ex-gamer - do you want some cards to start you off? :)
Yeah, it wasn't a great moment the wait happened, but fuck it let's see in a couple years.
Just a taste?? ;D
That's the one :)
You mentioned games not giving back much but fun, but I think this one owes me nothing, and I have some older decent cards if they hit the jackpot 'in a couple of years'.
I don't "get" the card games - I think my IQ is too low for them - which is why I just went online to shoot people.
Battlefield 2?
Hopefully in a few years I'll be firing magic from my hands with a VR headset on :)
Yep BF2 and Ghost Recon before that.
I am looking forward to the games evolving into something more action based and less bot driven. I think it is crazy that people have bots play games for them - it is like paying a guy to have sex with your wife because he does it better.
I played a lot of BF2, newtestleper the mostly medic :)
Or maybe hubby has found something shinier? :O
I have read somewhere that you should always put at stake what you are willing to lose. I'm sorry for the loss you've had. "I feel that knot tightening in my stomach - the stiff upper lip" I have also experienced this feeling that you have described perfectly, although not by play or investment. I hope there is enough left over to start over. Greetings, @tarazkp.
The knot comes on the back of many events - money is not the worst of them.
Maybe it is good to get kicked every now and then - though I am a little tired of the beatings :)
I don’t see any of it as a loss, I mean, even if it just curbed some addiction like gaming m, it’s a win. It really depends on your relationship with what you are doing here. Most of what I share here I wanted to share anyway. I’m trying to make even my community building something that will be able to interact with what I do off the platform so that even if it all goes to shit, I’ll be able to gather the relationships I’ve made and continue something somewhere else, even if it’s not monetized. And then there’s always the possibility we really get back to $1 and stay there....or $5....
There are lots of other value streams - yesterday's thing was just a kick in the cryptos ;D
I am hoping what you are doing will be the norm - on and off platform relationships building the communities as it makes what is happening here, real :)
Hive for me has also replaced my gaming and I can relate exactly to what you say.
The markets may go up and down but the game still goes on and I'm sure some will hate me for saying this but I kind of like seeing the prices go down as it is a big opportunity for new players to enter and for me to become more seasoned.
I suppose I would be a bit more pissed if I wanted to cash in my chips.
At the end of the day it's a game of Monopoly although the car piece could be a Lambo.
I hope some are taking the opportunity, whether on Hive or in the markets in general.
Yep - but who does that? ;D
And there will be far more than one winner.
I never pay full price for a game. I was seduced by false promises back in the 90's & paid full price for disappointing ones. So, I avoid the hype, and wait for inevitable reduction in value.
For crypto, I just don't trust it whole heartedly. The concept is great, however, it is still very much in development. The WHO, HOW, WHY, WHAT & WHEN are all still working themselves out as to what Crypto is, both within the Crypto world, and how it connects with the world at large.
September is the beginning of a new season. Weather changes, which alters the mood, the psyche.
The fact that we can consider, rejoice, or complain, it is testament that we are here.
It tempers the spirit. It tests rationales & resolve. It can humble us to our limitations or inspire us into new directions.
I think I have only bought about 5 or 6 games in my life - I tended to only play online and the fun was playing against people, not changing the game for a little bit of a different scene.
Will people get depressed by the coming cold and dump, or get bored of being inside and look for some pump?
Maybe a bit of both. I got into cryptos a bit more due to the winter and lockdown here in Melbourne.
Some of my friends invested into cryptos, including, some into their SMSF (Self Managed Super Funds) along with Silver, Gold & Real Estate.
Cryptos are becoming more accessible and mainstream.
I think there needs to be more consolidation to the number of coins available -also, how practical are ERC20, tokens, etc when they try to emulate a decentralised platform with real world application.
Perhaps, just like when Etrade entered the stockmarket, making it easier for the average punter to take a step into that world, so too, will Crypto add another option to the peasantry. :)
I have had more around me getting interested and putting their toes in lately - I think people in the know are seeing the signs that they have to do something. Hopefully it is a sign of good things to come.
Ah, I so remember the bedlam when Tsu shut down overnight, as it left thousands destitute. It might sound crazy, but the thing that I missed the most was that all of my friends were gone and no way to contact them.
We never value something until it is taken away from us.
Should Hive tank for any reason, I think that it will be much worse than the TSU situation.
Your money is not your own until it's in your bank account lol.
It is definitely not safe there either - just remember what a run on the banks do, they don't give you your money because they don't have it.
The loss of connection is always a problem when a website shuts down. At least on Hive, anyone can start it up again to some degree.
Indeed :)
You are right of course and another thing is that the bank's service charges erodes the interest earned, but over here as an interim measure it's the best option that we have.
Yes and I see that they have also started the Tsu account up again, but apparently it is still very buggy at the moment.
Until it's not in your pocket i'd rephrase lol
Agreed and even better my friend!
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we should always try to play safe with firm believe
I find it weird as it is real money at the end of the day. The more you have the more you notice it even though you weren't planning to touch it anytime soon. I think if I had a few $100 000 and lost 20 percent in two days I would be a little down. Good problem to have I suppose as it will come back stronger at some point.
Life is a game. :)
This sentence shocks people who are just learning the English language.
Wise words of the gamer version 3.0 :)