Get Rich Slowly: The Patience To Ride The Wave Of Crypto TechnologiessteemCreated with Sketch.

in palnet •  2 months ago 

Rome was not built in a day.

I know this is a very old saying but there is a reason why sayings are old. They are applicable.

Over the last 30 years, I watched the business world in the United States shift from one that focused upon long term growth and prosperity to 90 day cycles. Decades ago, before most of the economy was a corporatocracy, we had a mix of public companies and private ones (usually smaller businesses). Companies were focused upon long-term growth and expansion.

Today, that is all out the window. Instead, everything operates on 90 days cycles. People are watching the stock market like it is oxygen, necessary for their life. Corporate executives realize their only mandate is to improve the stock performance regardless of the means. Long-term planning took a back seat. The media, of course, is complicit in this since it is very willing to bash any company that does not meet this expectation.


Source

Elon Musk is a classic example of how the game has to be played. Whether you agree with the guy or not, there is no doubt he has a vision for the long term. He is building something that will be much bigger down the road. What he accomplished already is amazing considering there was no new car companies to reach the levels he did in the last 100 years.

Yet what is the mantra surrounding Tesla?

How much did they sell this quarter? Will they make a quarterly profit? Did Musk really smoke pot with Joe Rogan?

Naturally, the stock price was hammered which gained all the headlines. Read any article on the financial pages about this company and you will see how much the stock is down in comparison to the S&P.

Unfortunately, this mindset is not drummed into us. We bring it into the crypto world believing everything needs to happen right now. Patience is completely absent with people wanting the instant gratification. Why is the price of these tokens so low? When will the bear market end? We need to do all we can to push the price higher?

Sound familiar? This is what every executive at the Fortune 1000 companies is discussing daily. The only thing that matters is price.

That is not reality. We all know the stock market is a giant game. I laugh when I hear the Wall Street types talk about valuation, fundamentals, and other things that do not apply. If they were true, you would not see corrections of absurd amounts.

FOMO is not a part of fundamental analysis yet it takes place in markets. Panic does not fit into financial documents and product releases, however it does insert itself into the pricing action.

How can this be?

It is because fear and greed play a large part in the movements of markets. Of course, the smaller the market, the more impact it has since things can move a lot quicker.

Thinking back to the Internet in the 1990s might help a great deal. The early to middle part of the decade saw very little taking place on a societal level. Some people were starting to get online yet it was not the masses. It was still the realm of geeks.

While the average person saw little, the development that was taking place was enormous. Pieces were being created that served as the foundation. Companies were just getting started, some of which did not see a profit for close to a decade (can you imagine that today). Amazon, one of the largest companies in the world, was an online bookstore that lost money for years. Of course, we all look back saying "I would have loved to got in that stock at $60".

Really? And would you have held it all those years where it was panned and tarred because it was not an overnight success?

I believe we are seeing the same thing with cryptocurrency. What we are erecting here is an alternative structure to what presently exists. That is all. We are setting up a system that provides people with choices. When they opt to use those choices remains to be seen.

We are still in the early stages of the technological development. There is yet to be the "browser" moment where one change can open things up to the masses. Pieces are being put in place which, unfortunately, takes time. It is something we must simply be patient with.

By the later part of the 1990s, the word was out. The Dot-Com era was in full swing. People knew the Internet was going to change everything. Thus, any company that had ".com" in the name was sent to the moon.

The sad reality is people lost a fortune on this. When the bubble popped, it did so in a way that wiped things out very quickly. Even the legitimate companies were pounded. On the plus side, the technological development kept plugging along without skipping a beat. The reason for this is that was not in a bubble. Development was taking place on a larger scale since more were involved. By the mid-2000s, a time when dog.com was gone from the memory of people, the Internet was in full swing. "You Got Mail" was passing the torch to social media and Web 2.0.

We are now seeing the foundation for Web 3.0 being laid. Just like social media took off, I am convinced that this is a real thing that will explode. For those who really want to benefit, it is crucial we be patient enough to reach the wave of the explosion. It will not happen today, nor tomorrow. I cannot say if it will be 6 months from now or 3 years.

What I can state is I firmly believe we will reach the point and it will be massive.

In the meantime, we can keep building our stake in the industry by being active. We know the next bull market will see the return of many people who left when things popped a year and a half ago. Do you know what they missed out on? 18 months of accumulating tokens, thus improving their stake within the entire crypto world.

It is hard to be patient. We all want the new world instantly. The benefits of both blockchain and cryptocurrency cannot be overlooked. The masses will figure it out sooner or later. Sadly, for most, it will be later.

Cryptocurrency is an interesting concept since it monetizes the underlying technology. It is this that causes people to focus exclusively on the financial component. While it cannot be denied, it is what stands behind it that matters.

This is where community comes in. It is not a novel concept. Apple has the market cap it does simply because it groomed a loyal community that stays with them. Microsoft did the same thing albeit through monopolistic practices. We can apply the same premise to cryptocurrency.

Every token is a community. The question is how big is it and what is it used for? We are seeing the Bitcoin community grow with more miners, merchants, and institutional investors getting involved. A token like Steem, the growth rate is a bit slower.

The alternate choices we are starting to provide are becoming very important. Did you notice what happened with Deutsche Bank? This corrupt organization just laid off 18,000 employees in an effort to save itself after it was revealed that it got caught on the short end of the games it was playing. Is this really any surprise to anyone?

Trust is a fragile thing. It takes a long time to build yet can be destroyed in a few moments. The banking industry has been screwing things up for many decades yet were always forgiven. This is because there were no other options available.

In my view, that is not going to be the case in a few years. As the entire cryptocurrency industry develops, people are going to realize there is a choice between the corruption of Wall Street and the bankers.

Unfortunately, from a technological perspective, we are not there yet. This is where the patience to ride the wave of technology comes in.

Give the developers the space they need to create and we will all be happy.

We are still very early in the process. It is vital that we keep this in mind.


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Hopefully steem slowly rises up

I can't say it any better and this is exactly one of the reasons why daily meditation is a must for me lately. In fact, now I think of it, I only got to meditate ( seriously ) around the time I got into cryptocurrency investing.

Patience is key. Now I think of it, it would be nice to have a 'patience' key on our devices :>)

By the mid-2000s, a time when dog.com was gone from the memory of people, the Internet was in full swing. "You Got Mail" was passing the torch to social media and Web 2.0

is that were the expression doggone comes from?

I guess I'm in a joking mode today, haha!

Thanks again for sharing this valuable info and keep them articles coming! ;>)

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Been here over 2 years, not going anywhere, building up slowly

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Good Morning,

What a great read, I am on the same page... I truly believe this is just the beginning of cryptos, there is so much more to come!

-pf

Those who left will come back. The world need Steem.

time is changing and its time for banks to adopt something new

It will take quite some time but will eventually happen


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