You are viewing a single comment's thread from:
RE: It's Back! Fortune Cookie Fortune
I think cryptos in general have been seen like the get-rich-quick schemes for many people. This is evident from hearing/reading about stories of people taking out second mortgages, or even investing their life savings, etc. just to buy in.
That worked out for some people, but I'm willing to bet a majority of them either winded up as bag holders or sold at huge loss. Unless you are a shrewd trader, I think it is unrealistic to expect everything to profit.
Even last year's massive bull run was a build-up from 2016; only the price skyrocketed around December.
Investments, in my opinion, are passive. Unless you want to help building whatever you put your money into, it's best to just let the market work itself out.
I agree about what you've said here, and it's sad regarding the crypto get rich schemes, but before STEEM, there really wasn't much of anything else to do but speculate. With STEEM, things can shift if we'll let it shift, from a rollercoaster pump and dump opportunity to an attention economy to a global digital currency.
But that means people start looking at the long term and what's good for more than just their wallets. And I'm not saying good as in losing out on opportunities or giving up on earnings—I'm talking about things that can be done to at least try to make the world a better place, rather than ensuring we all go down together as hard as we can possibly hit.
Coming from the anti-abuse side, there are a lot of people on the Steem blockchain who are looking for hit-and-runs.
This is evident with how fast they cash out any liquid asset they have on the platform once they have reaped their share from using uncapped ROI bot services.
I wish people would hang in and power up, and there's definitely plenty of folks just here to try to get what they can. I don't know all of their needs or reasons. Using bots just to cash out is a problem that somehow needs to be addressed. Code would be nice. Voluntarily stopping would be better, both user and owner. The more we do things because we want to and the less we're forced to do, the better off we'll be and the longer we'll remain that way.
It is up to the bot owners to set caps on bids. I've seen underutilized bid bots where some easily get 2x in STUs for the 0.1 SBD they bid. Some go as far as 1.50 STU per 0.1 SBD.
One way to resolve that in a win-win situation is make their service popular so people can't game them. Otherwise, I see it too difficult to force people using @buildawhale blacklist or change their operation model.