Oh, imagine that...
Another new moon, another 21% crash in the last 24 hours. I am shocked!
Shocked I say!
17 hours ago I said it was a good time to take gains and balance positions. Today I wake up and BTC has flash crashed to $45k basically during the first hour of the new moon on the East Coast. What a "coincidence". The New York stock exchange and time-zone dominates financial markets time and time again.
Of course I'm perfectly happy with my current positioning. "Bear markets" are the best time to build, and the amount of development going down right now is absurd. Of course I put "bear market" in extreme quotes right now, because this is clearly not a bear market. Anyone who was QQing their ass off in May's 10-day dump doesn't really get an opinion during this current correction.
You can't have a bear market in crypto without first having a mega-bubble. Trading sideways is not a bear market, and we've been essentially trading sideways for the entire year of 2021. The last real bull market was Q4 2020 which gave us an x4 from $10k to $40k. All the movement since then has largely been just noise.
What is a bear market?
A traditional bear market lasts 12-18 months. Hands down the end. Anyone who said "bear market" in May unironically can head back to the Kid's table. The greed and shear ridiculousness of retail right now is for sure the most obnoxious joke I've ever experienced. The complete lack of discipline and patience in this space is exactly the reason why everyone has been trapped inside the failing legacy system for so long. If you are going to act like a sheep, then prepare to get sheared over and over and over again, as the elite funnels your lifeforce into their pocket while joking about it with each other.
Crypto removes the ability to make excuses.
Anyone who's been here long enough and actually knows how to be their own central bank no longer can act like they don't have the opportunity to succeed. At the risk of sounding like a delusional elitist asshole who's lost touch with the reality of the plight of the proletariat... just... stop being poor!
Let me explain that.
As cringy as it is to tell people to just "stop being poor" there's also a little bit of truth to the statement now that crypto is going mainstream. The legacy economy is a meat grinding system based on debt-slavery. It's equivalent to being a student in a classroom that grades on a curve. No matter what happens, a certain number of people are going to fail and get sucked through the grinder.
Crypto changes the entire game.
We are no longer trapped within a system of endless debt-slavery. We now have the option to trade being lorded over by "trusted" authorities to being fully responsible for ourselves. This is a glorious and terrifying reality, because it means that we become our own worst enemy. We must compete against ourselves and learn to work with others, a reality that runs largely contrary to legacy capitalism.
If you are the kind of person that sees your crypto stack go x10 and then just assume that all those gains are locked in so you go on a spending spree... you're gonna have a bad time. Surviving the volatility of crypto requires exponentially more financial responsibility than the old system, and people in the old system have been trained from birth to live paycheck to paycheck and load up that credit card to the max, paying the minimum amount every month.
The massive level of financial discipline it takes to make it in crypto is astounding, and I don't necessarily expect everyone to attain that level of skill, but the tools getting built are making it easier and easier to break away from these chains of debt. At a certain point it becomes hard to feel sorry for people who don't seem capable of saving a dime. Am I in a super unique situation and someone entitled? Yeah, so I mean take these claims with a grain of salt.
At the same time we also seeing other issues popping up.
I'm listening to @theycallmedan's podcast right now. https://peakd.com/hive-181335/@theycallmedan/saqwofmi
He's got @lordbutterfly on there talking about marketing, and currently @ura-soul is talking about "censorship" and downvotes that a lot of the "conspiracy theorists" are constantly getting. I hinted to people like @r0nd0n in the past about how we can permissionlessly get around these kinds of downvotes, but I was sort of in the middle of a tiny downvote 'war' at the time so I was keeping my mouth shut.
Hm, still I am honestly staying silent on the topic, but just know that I don't think that 'wrongful' downvotes are a big deal, and will easily be rectified in the future in various ways. Nuff said (for now).
I guess the real point to be made here is that subjective rewards just aren't going to cut it in a scaled up future. "Get paid to _____" doesn't work in a subjective environment controlled by the elite. Again, I've got plenty of ideas but what I really need is implementation. I don't feel like talking out my ass yet again without actually bringing anything to the table. Soon™.
I guess the message I would issue to anyone that thinks they are being censored on Hive would be to look at the frontends. Hive frontends are centralized and they will always be centralized (controlled by the person that pays for the server). Every single frontend I've seen still uses the same shit code that Steemit Inc created: whoever gets paid the most is the one that gets on the trending tab.
There's really nothing preventing anyone from creating a frontend that puts whoever gets downvoted the most on the trending tab. It's really up to the frontend to decide what merits curation and views and what doesn't. Again, it is not Hive's fault that all the frontend apps of Hive aren't really doing their job or inventing any new functionality. Again, I would say that anyone who claims to have been censored from Hive is either being dramatic or has a fundamental misunderstanding of how Hive actually works.
That being said I think it's a bit ridiculous that people on Hive are getting downvoted based off of political/religious opinions and not "trusting science" or whatever. My only question is: why are you letting it happen? Why aren't you banding together and pooling your votes/resources? Why aren't you making a new token that isn't subject to such bullshit? Why aren't you making frontends that curate based on liquid tips?
There are just so many ways around the downvote issue and I'm seeing zero collaboration of a community that essentially equates to a second-class citizenship on this network. What do we gotta do here? Make #informationwar a protected class?
On a certain level too much time has passed for this narrative to add up the way it's being presented. Where is the curation bot that protects users from this kind of thing? Communities that are under attack usually rally together. I'm not seeing it. Rant over: more on this later, but just to be clear I think this is a problem that is much more easily solved than just leaving or forking away.
Conclusion
Clearly I'm a bit on tilt and continue to find myself all over the place. Scattered to the wind you might say. I guess that's what happens when I see all this outcry when there's nothing to cry about. Oh no, number went down what am I gonna do? Oh no downvotes bad, boo hoo I'm helpless. Like... no. I'm not buying it today. Rather I'm chalking it up to a simple matter of a lack of discipline and patience. Maybe that's just my entitlement talking, but I've already been through several downvoting wars and several "bear markets" so I feel like I have some experience in this arena.
The legacy economy is a meat grinder. And that grinder does one thing: chew up and spit out whatever is on the bottom. I'm not one to be like, "Hey just don't be on the bottom, idiot... problem solved!" but at the same time crypto is different. The rules are different, but the concepts are the same: keep grinding and don't give up. Money isn't real. Don't feed the trolls.
Posted Using LeoFinance Beta
Return from New Moon December 2021 to edicted's Web3 Blog
