I know, everyone wants the Lambo.
The allure of cryptocurrency is that of quick riches. The Bitcoin millionaires captured the fancy of everyone who gets seriously introduced to cryptocurrency. Many made fast money with ease. Those who entered circa 2013, did very well for the most part. However, this is a situation that is lined iwth many alligators.
As the drop from the January highs showed, cryptocurrency can go in both directions. Easy come, easy go as they say. Many entered based upon FOMO only to realize that things were collapsing. Without a long-term plan, these people were subject to a lot of pain. Many took the loss and left while others are still HODLING on.
We witnessed the same trend on STEEM. Early in the year, we saw a lot of activity on here. Since that time, as the price of the currency dropped, so, too, did the posting. Looking at the charts a few members post who follow that stuff, it is easy to see how there is a correlation between the two. Similar to the currency, people gave up on the platform.
As it turns out, cryptocurrency is not a get rich quick scheme. Neither is STEEM for that matter. We are involved in an industry that requires development and growth. There are growing pains like all startups experience which need to be overcome. The ups and downs are a test of one's commitment and dedication. Most will leave when things get difficult. The few that stay, they might end up profiting very nicely.
Patience is something that is tough. It is hard to remain consistent when it appears things are collapsing. However, in all my writing, I try to show the side counter to the currency price. The reality of this industry is based upon the development by thousands of different people around the world. As these platforms take shape and become more popular, the currencies tied to them should increase. Of course, there is no guarantee of that but logic leads one to that conclusion. Money is worth more when there are more people using it.
It is easy to want everything to "moon" by next month. Nevertheless, as the conflict in software this week showed, there are always bugs with coding. This stuff needs to be worked out. It took a while to get to the point where we are seeing HF20 and it will take longer until Communities and SMTs are upon us. This is the nature of the beast. As much as we want to rush it, we cannot.
STEEM is an evolutionary system. This is true for the entire ecosystem and, also, for each individual account. We are all creating and building. One things leads to another which, ultimately, leads to another. Being open source, for the most part, people are able to take the ideas of others and improve upon them. As more minds join this industry, we should see even more ideas festering.
So the question is "what is your plan"? Many do not look at this as a way to build something. The currency has a value and is a great way to monitor one's progress. That said, I feel it needs to be more than just about the money. What are you trying to create? This is social media, what is your identity or legacy going to be?
Things are unfolding before our eyes if we know where to look. This is a great source of optimism. Many of us believe the future of STEEM is very bright. Being part of the .00001% who have an idea what cryptocurency is really about puts us all in the extreme minority. We truly are early adopters; each and every one of us.
For me, I am not so concerned where the currency is today or tomorrow. Sure, I would love higher prices. Yet I realize that we are all building something remarkable here. It will take time for the pricing action to catch up with what is truly taking place. I am fine with that. I much prefer to be sitting on a currency that is undervalued than hodling one that is nothing more than a pump and dump. That is what marketing of currencies without a foundation end up being.
Look into your crystal ball and try to see where things will be in 24-48 months with this industry. Picture STEEM with 10M accounts as opposed to 1M. Then imagine 50M or 100M. What does this look like?
How do you think this blockchain will be viewed if there are 500 applications on it? Or 1,000? Or 5,000?
This could well be STEEM's future.
So yes, going to the moon last Friday is a great idea but developing something that grows to be a massive force over time is even better. Taking on some of the established, centralized entities is not easy. It is going to require a lot more than version 1.0 or 2.0 of many applications.
Some things simply cannot be rushed.
So sit back, do your part, and relax. STEEM is on very solid footing.
Maybe Axl will wipe your worries away.
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