It must have something to do with the end of the year, but I have been reflecting a lot lately on the time I have spent involved in crypto. I've been thinking about how much I have learned, how my accounts have grown, and everything I have accomplished in the past five years.
I've also been thinking a lot about what I hold, what I am invested in, and which tokens I really believe in. You likely know by now that I was kind of an NFT whore for a while there. I was buying pretty much any project that dropped on the WAX blockchain. On top of that, I have some moderate holdings of Splinterlands and Rising Star game here on Hive.
NFTs have been a big part of my portfolio for the past couple of years. As the NFT market cooled down and I stopped aping into pretty much any opportunity that flashed in front of me, I really started to realize how unsustainable the whole thing was. I remember seeing scores of people jumping in the Telegram chat for whatever project and complaining that they weren't able to do a 100x flip on whatever they just bought.
After you see that a couple of times, you start to think "what am I doing?". I quickly started to realize how important it was to invest in projects that you actually believe in. Something I had already been doing for years with Hive.
I also realized what I already knew from dealing with Hive, that the get rich quick mindset is flawed. I started turning my attention more to DeFi and investing in that. While I honestly think there is definitely a place for NFTs in the crypto space, I now believe the banking and DeFi side of crypto has more long term benefits for us has holders.
Big wins are great, but I'd rather hold something that gives me a regular stream of passive income. Guess what, Hive does that! In fact, not just Hive, but many of the secondary tokens on the Hive blockchain as well.
It was just a few weeks ago that I eventually came to a second realization...
What would happen if all of my crypto assets were suddenly wiped out. Just imagine, everything goes to zero and none of it has value anymore. Which loss is going to impact you most?
Sure, it would suck to lose my BTC, I don't even hold a whole token, but it's still a decent amount of money. I don't hold much ETH. I have some stuff invested in CUB DeFi and it would stink to lose that, but it's already down so much the initial blow has kind of already happened.
I own a bunch of WAX, but I wouldn't say I am super invested in it. That was one of my $.03 gambles during the last bear market and it served its purpose. Yes, it would suck to lose it because I still think it has a lot of room for growth, but a wipe out wouldn't kill me.
Then I realized, the only token that would truly devastate me if I were to lose it all is Hive (and by default the second level tokens on Hive).
Hive is the only token I hold that I am not sure I would be able to recover if I lost it all. What does that say about the token? It isn't even purely financial either. It isn't like I wouldn't be able to pay my bills if all my Hive were gone, but Hive has become something more to me than just an investment.
I often call Hive my hobby and I honestly think that is a really accurate way to describe it.
I honestly can't think of a token that has more potential right now. It often feels like we are right on the cusp of something big happening for Hive and we just need a few more things to fall into place for it to explode. It could be months, it could be years, but that feeling has always been there. At least for me anyway.
Those of you with larger holdings off of Hive might feel different, but for me, a Hive wipeout would potentially end it all for me. At the very least I don't think I would ever throw myself into another project with as much enthusiasm and time as I have with Hive.
I just wouldn't have it in me.
Would you?
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