Are we helping one and another? Or are we only all for ourselves?

We have seen cryptocurrencies picking up in recent years. With more mainstream investor getting excited about cryptocurrencies and pouring money into the market, it has also caused problems for the crypto ecosystem as well as the IT industries.

Probably back in July 2018, the cost of a GeForce GTX 1070 AMD Graphic Card (GPU) will probably set you back US$500–700 per piece. A few months later, the exact same card cost almost US$1,000!

This led to a spike in AMD and NVidia stocks and a shortage of GPU worldwide. With GPU being out of stocks, these excited crypto investors has unknowingly caused the prices of Desktops to skyrocket for other consumers.

This is what economist call “Tragedy of the Commons”. It is an economical phenomenal that happens where people in the situation think of short-term profit but in the end everyone losses.

One example I am able to cite is in the following short story;

Imagine a piece land, able to support a fixed amount of cows. Based on nature’s cycle, the land will continue to be fertile and will be able to support the cows to graze.

However, when the land is open for humans to use, us humans will act in our own interest to make full use of the land. Bring as many cows as we can to consume as much “free” grass as possible just for our own interest. Within months, the land turns barren and unsuitable for agricultural use.

With such shared resources in place, are we only thinking of ourselves? On the other hand, are we only thinking long term that many people can benefit from us these resources?

Being in Crypto for the past year taught me something ugly about the market. I have seen great project not work out due to ‘Whales’ playing the market. Pumping and dumping coins, creating fear in new investors.

However, at the end of the day, when the market crashes, even the ‘whales’ get burnt. They get burnt when there is no more new money flowing in. When people are selling at losses and exiting the market.

I believe that the crypto market and its projects are highly driven by the community that is supporting it. What benefit does it do when you make millions by pumping and dumping a great project? Driving investors away and watching the project fail.

Some might say, “Well, I only care about my own pockets, people should put in what they can afford to lose.” We seldom see the bigger picture. The picture where crypto is be accepted into the world’s financial systems. The picture where everyone benefits from this beautiful technology. The picture where everyone helps one and another in every situation possible.

Are we for the community or only for ourselves?

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