Are you a cryptocurrency tourist or a cryptocurrency settler?
Words
610
Reading
3 min
Listen
Play
4y
It's easy to be a cryptocurrency fan during the bull market.
- 2020 and 2021 were great bull markets for cryptocurrency in general, and decentralized finance in particular.
- Many people who had never heard of cryptocurrency and the blockchain became interested in both during this last bull market, and in a figurative or metaphorical sense: they moved in the country called cryptocurrency and the blockchain.
- These people can be thought of in some ways as either Tourists or Settlers.
Tourists
- Tourists can best be described as people who travelled into cryptocurrency to look around, perhaps make some quick money, and leave.
- They may have learned about cryptocurrency and the blockchain on a superficial level, similar to the superficial level a Tourist learns about a country they visit.
Settler
- These are people who came into cryptocurrency to look around and stayed, or who moved here to stay from the very beginning.
- They are committed to learning the language, culture and history of cryoptocurrency and the blockchain.
- They may also be here for the money, but they are not easily discouraged by the loss of money, or the demise of the bull market.
- The settlers are also networking with the people who came to cryptocurrency and the blockchain before them, and hope to receive mentorship and encouragement.
- The immigranmts don't plan to go home like the tourists.
Tourists and Settlers are both welcome
- Personally, I welcome both settlerss and tourists, because I realize some tourists will become settlerss and some settlers may become tourists.
- In life it is inevitable that people make decisions and change their mind, either about staying or about going.
Congratulations to the cryptocurrency settlerss
- I want to say congratulations to those of you came during the last bull market, and have stayed during the bear market, because it has been a brutal year.
- You witnessed huge drops in Bitcoin, Ethereum, Litecoin and practically every other altocin of 666 to 90 percent.
- You also know that multiple decentralized finance projects stole peoples money, and we have had the collapse of the algorhythmi stable coin in the Terra Luna Fiasco and the collapse of the FTX ccentralized exchange.
- And on a more personal note: If you are here on Hive and Leofinance, you know the Hive token, Leo token, Cub token and SPS token have all suffered large drops in token price.
- You also know that SPS laid off half their staff
- So needless to say, a lot of people who came into cryptocurrency during the bull market of 2021 have exited cryptocurrency because of this bear market and the problems during the bear market.
- But some of you have stayed, perhaps because you see the potential of price appreciation in the next bull market, or you see the protention growth of token projects with good use cases, or you believe in deceentralizations, or you love the cryptocurrency / blockchain community, or you love blockchain / cryptocurrency ideology or some combination of these things.
- I salute you, because I have been here five years, bull, bear, bull, bear and I know it's tough to keep the faith in this new technology.
- But I think this is the latest technological advance in a very new place, the financial world. And to me this has the potential to change the way we understand, earn and pass on money, during ourt lifetime and the lifetime of our descendents.
- I think it's the biggest thing since the internet, and we are in the early stages, with no real idea what great things this new technology will accomplish.
- So welcome crypto settlers to the cryptocurency country.