And this bear market is no exception.
I have no idea how many of my readers have won a poker tournament. Probably not too many. I'd highly recommend it if you get the chance!
Still, there are many similarities between crypto and poker.
- It's a game of gambling.
- On a short timeline, it's pure luck.
- On a long timeline, it's pure skill/discipline.
- The market is competitive, but learning is cooperative.
- There are communities and regulars.
Poker tourney walkthrough
- Poker is a game of massive volatility.
- One round you're up huge and the next thing you know you've busted out.
- This volatility shares the most common ground with crypto.
Every time I look in my wallet, I'm thinking 'wow'.
Just like a poker tournament that I'm crushing, I may have only started out with 1500 chips/coins, but now I'm making bets 5000 at a time. Just recently I stopped powering down 5000 Hive a week, and I constantly remind myself that when I got here in 2017 I thought I'd NEVER become a dolphin. I thought I'd never acquire 5000 coins in the first place, let alone be nonchalantly be buying and selling 5000 at a time like it was nothing. Exactly like a poker tournament after surviving the first two hours of play.
The key differences
The similarities are striking but the differences are even moreso. In crypto, we are not playing a zero-sum game. We are building community and trying to create a new economy where everyone can win, not just the elite upper class. The struggle is real, but the struggle also helps remind us that we have a job to do. Nobody said it was going to be easy.
This bear market fits right into the whole poker scenario.
It's the sting of losing a huge hand but still having a solid chance to win. Except in crypto, there doesn't need to be one winner. We can all win. That's the ultimate difference that zero-sum game theorists are never going to understand. This new economy is an open-source cooperative, and those that alter their mindsets to harmonize with this frequency will find themselves at a huge advantage compared to everyone who's coming at it from the VC angle.
It's crazy to see Hive doing things like building a water pump in some random developing nation (I've seen this happen like 3 or 4 times now). Imagine how much more we'll be doing when this network grows exponentially in size. Imagine Hive first-responders helping random people after a natural disaster occurs. A world-wide network that can turn clicks into real money is easily capable of such a feat. We will have members everywhere with access to money anywhere. The more broken the old system becomes the more relevant we become.
Conclusion
Crypto is competitive gambling on short-term timelines, but in the long-term it's completely the opposite. It's not about timing the market, but time in the market. The longer we are here the more we are able to accumulate. We just need to make sure we have to big enough bankroll to avoid going bust.
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