As slowly but surely LUNA has been slammed into the ground, the crypto world has been thrown into the turmoil that we experience today.
The current crypto market cap as of today is sitting at 1.27 trillion $, a staggering 0.5 trillion $ lower than 7 days ago, which is basically raising a huge concern for any potential investors in crypto.
The LUNA example really is a notorious one. I truly believe that one day movies will be made of the quite frankly, astonishing carnage that occured during the past week. Billions of dollars lost - but more than money, billions of dreams and hardworked returns of honest and sincere people were lost as well. And this is what I wanted to discuss today.
As I was also one of the people affected by the LUNA demise (albeit with a small loss in comparison to some of the other gigantic losses), it has taught me a valuable lesson. It is just how these things go I suppose - in victory we ravel and enjoy ourselves, but it is in defeat that we learn, adapt and come back stronger.
So, what did this humbling experience teach me as a relatively young and inexperienced crypto-enthusiast?
Well, for starters, one of the most important lessons I suppose is the fact that it really is important that you invest your hard earned money into projects that you are familiar with.
Do your own research. Check out how things work on that particular crypto coin. What are the pros and cons. How is the technology working. What are the customers saying, is the majority of the feedback positive or negative. How strong of a community is there behind the coin?
And it is in this last sentence that I find great relief to be here on Ecency. Fellow Ecencians, on this HIVE-powered network, I have truly met some of the most wonderful people out there. It is for this reason that I think and firmly believe that HIVE's future is shining ever so bright.
Yes, stable coins will take a huge hit due to the UST fiasco that occured, but that is not to say that HBD isn't worth investing in. Think about it: 20% APR + a very easy approach in which you can convert HBD into HIVE and vice versa without breaking a sweat, effortlessly.
And yeah, I know that some would say 'ohhhhh I am not touching crypto anymore, I am better off investing in gold'. But that is not my cup of tea - gold is a game for millionaires I am afraid, and as of today, I am very far off being a millionaire blogger, unfortunately enough. One day, maybe. Perhaps I will embrace the gold as well.
But as of today, I am 100% devoted to crypto investments. Because crypto triumphs over gold due to its many uses and due to the good things that crypto technology is bringing us.
I have no doubts whatsoever that in the following 10 years or so, the gold market cap will increase tremendously. But so will the crypto one.
And most importantly.. so will the HIVE one. It must and it will. I see it as the ticket to my potential millionaire status one day.
Do you?
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