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RE: There is no secret to success on Hive.

in LeoFinance2 years ago

How long does a worker bee work to become a Queen?I will always support the idea of personal development and long term growth but there's something disingenuous about selling people the story of whales just bootstrapping their way to the top and how duplicatable that is. It was a different climate for early adopters when it was a different platform and more fairly distributed. Much of the wealth has been distributed not by a metric of meritocracy but through networking, collusion and coercion.

There's this concept called a Risk/Reward profile. Generally the earlier you are in a project, the more risk is associated with it so in order to incentivize investment systems need to give advantages to early adopters. Later on the risks diminish so does that reward side. Saying "dont throw money at shitcoins" is kind of worthless advice because everything starts as a shitcoin and if you want to walk a mile in their shoes, doing the hard research and getting in early on a project is exactly how many whales got there. Hive isn't even a top 100 coin at the moment so people could still call it a shitcoin and retool your advice to say to not invest in Hive. Telling people to go all in on one coin is way more vulnerable than a person having a diverse portfolio. It's also very risky to give people financial advice like that from a personal liability standpoint but you do you. I can see how you would have anecdotal regret from funding projects but that's just the risk reward profile at work. I'm sure those projects had a chance to go the other way and give you a good payout had things ended up differently. Post hoc analysis like that can actually be harmful but there's always a balance to maintain between that and good Bayesian inference.

Ultimately, people need to do the work to look into these fundamental or technical aspects to see what has potential and is undervalued or overvalued and make informed market decisions with that information. These systems aren't designed to just have everyone become a whale with enough bootstrapping and hard work. Many people have been consistent for as long as some whales but don't have the botched moral compass that leads to them trading ethics for power. It's a caste system and the sooner people take ownership of that, the easier it will be to move forward. I don't think being all doom and gloom is the answer either but we need to be more transparent about how these things work or there will be long term consequences.

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