Are We Past the Era of "When Moon?"
February 25 2019 - 1:15PM
ADVFN Crypto NewsWire
Bitcoin Global News (BGN)
February 25, 2019 -- ADVFN Crypto NewsWire -- 2017 was truly
the year of the speculator in the crypto world. 2018, on the other
hand, was the year that tested who truly believed in the power of
the blockchain. Many of the once powerful crypto-themed social
media accounts have been silenced by the year’s powerful bear
market that is still continuing today.
Related to this, an article that
was published by CoinDesk today raises an interesting point. Are we
past the hype? Have we crossed into the era of “BUIDL” over “HODL,”
or at least a combination of the two as suggested by Alex Mashinsky
in a recent Medium post?
Reportedly, in an interview with
Yahoo Finance on Friday, Alexis Ohanian, who is the co-founder of
Reddit, indicated that he believes we have begun to cross over into
the era of true progress. Judging by the transcript from the actual
interview, what this appears to mean is that with each bear market,
we get closer and closer to being an industry that is populated
with “true believers.”
What are true believers? Judging by
the opinions of Brian Armstrong, Ohanian, and many others in the
space, they are the people who are actually working to push the
industry forward, instead of simply trying to make a quick buck,
due to its’ rampant volatility.
Even though the continuous
existence of Twitter personalities and Telegram groups that claim
to know how to beat the market seems to contradict this idea, it
would appear that their opinions are on point. Bear markets in any
financial space discourage speculation. “When moon” is no longer an
attractive mantra when the space is not flooded with a multitude of
ICOs and wild price swings.
Perhaps, given these facts, this
bear market is the best thing that could have happened to the
crypto industry to encourage its’ long-term success. We need more
builders and less self-centered dreamers.
By: BGN Editorial Staff
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