I made a Tweet last night talking about how I think any crypto project that can make it through this storm will be here for the long term. After years of being in a crypto bear market, we are now facing a depression across the global financial system that no one knows how long it could last.
I have a friend that works at a refinery and asked him how they were handling the current market conditions. He told me they were trying to get as much oil as they could, but are quickly running out of storage capacity.
The first thought is that refineries should be making good money right now since the price of oil is so cheap, but since no one is traveling and buying gas they are running at minimum rates because no one is buying the products they make from oil so while they are trying to take as much advantage of cheap oil as possible, they only have so much storage and nowhere to sell the finished product.
Some other people in the industry I've talked to are asking salary employees to work reduced hours or just cutting people altogether. One person shared a business they work for usually makes 1.5 million dollars a day are now only making $150,000 a day. I would assume most crypto projects are feeling like they are being kicked while they are down.
I could be wrong, but it seems to be the crypto projects that can survive this environment over the coming years, will be the leaders in this industry. I think those projects that are community-driven "voluntary" projects will now have the opportunity to shine even more.
Many hands make for a light load, so even if their are many hands-only working on something part-time that's better than people working on something where the culture is layoffs to try and weather the storm.
That's why I'm continuing to support projects like Splinterlands by purchasing packs and looking for opportunities again to possibly start buying individual legendary cards to start building my portfolio once again. I'm making small purchases of Bitcoin weekly because even though we may not see the effects of the halving over the short term, I'm building my long term position. I'm also looking for projects that pay decent interest on my crypto holdings 6%-8% and squirreling a very small amount their to continue to grow as these companies prove how secure they actually are.
I don't know if it's ever been proved, but I always hear that during these hard times are when the most millionaires are made. That opportunity could come in finding a great investment to start in that will become the next Netflix, being laid off and starting a new company that will become the next Amazon, or building something now that will continue to grow as the economy improves.
As worried as I am about everything that is why I continue to buidl and look for opportunities to grow and support great crypto projects. I will continue to grow my brand when I can so I can become the next influencer or leader on some of these platforms that will help onboard new users and guide them to become the dolphins of tomorrow.
I'm by no means a great leader or influencer, but I am hoping through my commitment of doing when I can, contribution through posting, and investing, that we will all come out of this better, stronger, and richer then we were before all of this started no matter what happens today or tomorrow by years from now.
