In times like this, it's difficult to not talk about the crypto crash that's currently going on. The worst of this is seeing the FUD tweets, WhatsApp memes banter, and even panicky posts on the internet. This exactly goes on to say that when crashes like this happen, people create even bigger emotional meaning, due to the loss that comes with it.
I've taken time to read FUD and hope posts lately and taking time to read it all has actually created a sort of balance. It's funny how some people will say crypto is the future and how it's their go-to solution for government excessive controls, against banks and even shortcuts to salvage inflation, and just three to four days later, they're saying they cannot rely on Crypto for anything.
What exactly changed?
These same people spoke about buying at a certain higher price, but suddenly when they're presented with an opportunity, an actual crash to buy lower, this is when they'll begin to pull the rug even when it makes sense for them to buy.
But sentiments and fear are why crypto and the approach towards it is hardly logical and this is why they will believe that what's high eventually keeps going high and what's low would eventually keep going lower. I know fear can stifle belief, but for crypto, we have people who have seen three to 3 bull and bear markets respectively, yet they remain weak hands, why is this?
Weak hands, make weak minds
Why is this?
This is because they actually didn't grow in mentality, lessons, and experience, except that they made some calls and the Market was there to reward these calls. It's crazy, it's not surprising to see people change, I mean, money controls and determines stances, opinions, and emotions, and it takes deep affiliation for Crypto and its underlying projects to actually see the flaws and failures but still create plausibility for betterment.
Weak hands are the worst actors in Crypto, but I guess they're necessary evils and even if something huge as a crash initially sends them away, it's surprising how they keep existing after they've been washed away.
A bigger issues.....
But we have to understand that the world is currently in turmoil, some of the big entities in the centralized worlds have been making crazy decisions, meta to sack 11000 people, and Elon musk already laying off people from Twitter. The FUD fire is spreading as well in the centralized world, it's generally my way to affiliate whatever Crypto is currently facing to a bigger world economic scheme.
But I know that we have our issues. I try to refrain from talking about #ftx and #binance. I've spoken about how the centralized aspect of crypto is always its Achilles heel. I also try not to talk about CZ, because with the moves he's making, he's created an inevitable entity, a god-like figure in crypto, just like Elon musk tried to do and we saw the impact.
Centralized Exchanges Must Do Better
They're a necessary evil at this stage of crypto
I think it's time centralized exchanges stick to their onions and start working harder to shore up their business, rather than sitting their asses down and creating a plunge in the market space. The worst event in crypto has happened this year and these guys are not taking the time to learn from failures, we have egotistic people in the crypto space who are playing yo-yo with investors' funds by not doing the necessary things to prevent some worst-case scenarios. It's time these people become more accountable.
Seeing imaginary lights at the end of the tunnel
We're beginning to sell the true essence of decentralization and how it's necessary to maintain stability, I guess it'll take many incoming failures in the future and the present for the lessons to be learned. We're currently learning the hard way and we've had the exodus of Luna and now FTX, I think another massive exodus might kick us in the nuts, this is why I think it's time to change things. We're solidly growing one for the future here on Hive, and with everything, I'm holding on to the faith, we're going to come back stronger.
Interested in some more of my works?
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Free Money: What Will You Do With $216k Worth Of Crypto In Your Wallet? (2)
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