The June HODL Challenge - Week 3
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Oh boy....Here it comes everyone!
Our old friend - The Sea of Red!
We've been in quite the sell off over the past week and every time it looks like the bears have left the building, they show up again....
Regardless - We're here for the technology right? lol
Let's take a look and see where we are at in week 3 of the June HODL challenge.
EOS
Last week seems so long ago....As we are down from $14.11 to $10.30 per token. The main net is apparently 'launching' but has fully launched (whatever that means) and the darling of the crypto world seems to be suffering the same fate as everyone else this week....
LINK
Chainlink took a big hit as well. Starting last week at 33 cents but ending up today at 22 cents. You are going to see a trend in each one of these token and coin reports this week...It's not looking good lol
ZIL
Zilliqa was hit too. From 15 cents last week down to around 9 cents each. 34% losses from 7 days ago. Urgh, gotta love the bear markets huh...
PIVX
This one hurt. From $3.83 last week to $2.52. The privacy coin took a 32% loss and again, as much as I hate to beat a dead horse...This is a recurring theme this week.
WAN
And finally WanChain not to be out done by it's fellow HODL challenge comrades, took home 37% losses down from $4.71 to a nice plump $2.86....
And when you add it all up we're at.... $73.69
This is from our original $100 investment in fiat. Still a few weeks to go....
Here's the kicker....All the FUD in the world doesn't mean a hill of beans if you believe in what these coins and tokens potentially represent.
I got into a discussion today with some people online about price and how irrelevant it is. For example, I'm a huge believer in STEEM. I love social media, I use the token each and every day and see the real world application for it. Whether it's 4 bucks or a dollar...I see the value in the token...So price...I don't get too bent out of shape about.
That's important when getting into crypto. You cannot live and die by price alone. It's very dangerous to do that and will set you up for failure. Look at the utility of a project. Do you use it, can you see use for it, does it make sense to you....
After you discover something you truly believe in....Price becomes irrelevant!
(And just keep telling people we're here for the technology!!!!)
Price is a poor term for value... the price of a car drops when you drive it off the lot... but the value is there as long as it does it's job. So if Steem is your go to crypto... you paid a price of x... but if you use it to build your business then the value is much greater than the price you paid for it!
My question is this... Can you truly build a business off of the other cryptos? Steem has a track record already... most others do not! I believe that the current pricing is really irrelevant! It is a short term effect from coins being dumped on the market to pay off debt. It is a shame that Bitcoin price has an effect on coins that are so much different. As I mention in a comment with @brandofrye. Bitcoin is more like the S&P of the Stock market. If it does bad then the whole market is effected.
Yeah we're attached at the hip, all crypto is, to BTC....And as it goes, so does everything else. Not sure if that's fair or not, but that's the cards were dealt for now lol
Yes, that was my thinking as well.. Long live BTC... LOL
Well said Paul
Thank you @bethcharron!
Price wise it has been a bad few weeks, but as you say if you have coins that you can use the price means nothing. As for the others just hold on it will get better.
True true! Doesn't mean we should hold onto 'poopcoins' though LOL Which I'm VERY guilty of.
Poop coins?????
LOL Well, there is another word for it that the kids use...But I tried to be semi-polite lol
Oh man, the more hits crypto take the thicker my skin seems to get. I seem unaffected by all the virtual losses, instead I am glad of the new opportunities to buy that open or will open up. I say "seem" because I almost don't believe it myself how easy it is to cope with the sea of red. And, unless we sell, I don't really see any problem. So, com'on bears, take your best shot, lol!
LOL True true. Great point too....The longer this goes on, the thicker the skin LOL
Hey Jon. I like your post and the current down trend is just proving your point that I he only guarantee is that the price will go up and it will go down. So for right now the price is going down. But if you only bought what you can afford to lose or be without for awhile then price shouldn't be an issue.
For sure. Same here. Every single penny I've put into this, I'm o.k. with losing it. If I relied on it, oh boy I'd be in trouble LOL
Well, it wasn't as bad as I thought it could be! ;)
Ride out the dips, the next climb is coming up. All is as expected in the current market.
But . . . we have one more week to go! Where will this finish? Join us next week to find out! :)
LOL Yup! Gotta be positive! lol