BABELFISH COMMUNITY: If you don't feel like you're part of a community, then you're not doing crypto correctly
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BABELFISH COMMUNITY: If you don't feel like you're part of a community, then you're not doing crypto correctly

By NOVAX | Block To The Future | 2 May 2021


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Read my previous post: Revolutionary Stablecoin Protocol, Babelfish, is about to go brrrrrrr! $FISH $xUSD

CRYPTOCURRENCY AND COMMUNITY


Back in 2017-2018 when I first started getting into cryptocurrency, I was mining a lot of Ethereum (and then wasting it on shitcoins). I didn't really ever feel like I was part of a crypto project's community at that time. Granted, it was a bit chaotic on Telegram back in those days. Every group felt like it was just a never-ending ocean of spam. Nobody knew who I was and I didn't know who anybody else was. Now that I've begun seeking out blockchain projects in their earliest incarnations, I definitely feel a lot more connected to the small communities that I'm involved with. It's great to invest in large cap cryptos, but the smaller start-ups that are actually developing exciting new innovations can be the most financially rewarding, enjoyable, and educational to participate in.

The Presearch node operator group has grown really fast over the past few months, so that community on Telegram doesn't feel quite as small anymore. However, the admins and developers are always accessible and responsive. The community has a huge slant for information freedom, so everyone seems super open-minded and friendly. The Sovryn community on RSK Network still seems fairly small as well. I think there are now 10,000 $SOV holders, so the community is definitely growing quickly. I got involved in Sovryn with the second presale round, called Origin. The $1,000 I invested into that presale promptly climbed to a value of $10,000 when $SOV began trading. The community is very committed to decentralization and most of the people I've spoken with who are involved in the project, are a lot more knowledgeable and experienced than I am. Generally, I interpret this to mean that I'm in good company.


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SOLD BEFORE BIG BREAKOUTS BECAUSE I WASN'T INVOLVED IN THE COMMUNITY


It's actually pretty rare and difficult to find brand new blockchain start-ups which are taking on truly innovative projects. So, when a very young project catches my attention, I act quickly to do my own research. In the case of Sovryn, I took a bit of a leap of faith and it has been the gift that keeps on giving. Navigating the challenges of getting setup on a new network has been more than worth it already and I'm already very excited about the potential future rewards. For example, I've just recently learned of Babelfish. It's a stablecoin protocol that has such an extraordinary vision that I feel I must get involved ASAP. The community is so small that I can experience what it's like to contribute ideas and test new features.

This level of involvement in crypto projects isn't for everybody. However, I would venture to guess that most people are missing out on this experience. It's so satisfying to see a project transform form just an idea, to a few social media accounts, to a fully functional dApp producing billions in value. There is something really personally rewarding about being there from the start. Although, that feeling is certainly amplified by the additional 10x to 100x Growth Ceiling Multiplier [GCx] one experiences when buying in to a successful project at the earliest opportunity. Many of us have had the "Bitcoin Pizza" experience, where we've held some tokens just long enough for them to gain a pretty healthy return. Then we sell them just before they really breakout and grow exponentially. It's happened to me on several occasions where I could have made $100k to $200k on my $1,000 investment if I had only waited another few weeks to sell. That is so painful. 


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ENTHUSIASTIC COMMUNITY MEMBERS NEVER SELL


Painful as those experiences have been for me, I have learned a lot from them. I don't like selling any crypto ever anymore. It just never feels right. If I do take profits, I only carve off like 10% at most. I usually only do that to invest into something that has even greater upside potential. I'm not in the habit of taking crypto profits in stablecoins or converting out to fiat. It never ends well for me. I always regret it. So I try really hard to only build positions and not to trim them. However, I've also changed my relationship to the projects I'm investing in. In the context of a smaller community driven project that has huge upside potential, I have no temptation to liquidate my position because I'm using the tech and engaging with the developers. If I see the value in the project and I'm involved in the community and aware of the project developments, then I'm never tempted to sell.

This is why I'm writing this post. I want you guys to understand how this transformation happened for me and to ask you guys if you can relate to my experience at all. Do you feel less tempted to take profits when you're more actively involved in a project? Have you ever sold a coin because you made a solid profit, only to have it fully moon right after liquidating your whole position? I have had that experience a handful of times and it always seems to happen to me when I'm not engaging with the project's community. If I don't feel like I'm a part of the community, then I probably don't have enough information to know when might be a good time to sell that coin. It could be on the verge of a big breakout.


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ACT ON COMMUNITY BUY QUEUES


Those community driven trading queues are always the most accurate and they're generally most valuable to me with regard to knowledge of impending price increases so that I can buy. I don't sell on potentially bad news. Instead, I just prepare to buy the dip. It's been a much better strategy for me because I'm holding over 100 different coins (many worthless ICOs from 2017-2018). So I could never actively trade all of my tiny little positions and the 10-15 coins I have larger positions in are all accumulation strategy projects for me. I don't intend to sell those positions for many years. This approach has been working pretty well for me. I generally enter positions slowly and build over time.

However, there are those start-up opportunities that come along every so often and really catch my attention. Sovryn was one of those and now Babelfish is another. My pre-sale investment in Sovryn has been so rewarding and I'm very excited about where the project is headed. I've been posting in the forum, the discord, and the telegram about minting some Sovryn NFTs and dropping them to pre-sale participants, 1st generation liquidity stakers, and bitocracy stakers. I know the project is going to do something epic with NFTs and I can't wait to see exactly how it unfolds. Because I got involved in the Sovryn community, I learned about Babelfish really early. And now, you're learning about Babelfish really early too. How early? Well, there's not a single $FISH minted yet, so we're still early as can be. But we're already getting amazing bullish buy queues from the community. There is substantive enthusiasm behind the project. This is very different from FOMO enthusiasm, but you can only discern the difference by getting involved.


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BABELFISH COMMUNITY ENGAGEMENT & MARKET POSITION


We don't generally associate stablecoin projects with huge profitability. They are stablecoins after all... so we're not expecting them to appreciate. That's why I wasn't initially very excited to learn about a new stablecoin protocol. I'm grateful that the community is building so many stabelcoins because it seems like we'll need very robust and decentralized stablecoins in order to refrain from ever using the fiat blockchain Fed-Coin which the central banks keep promising to unleash on us. I wanted to know what Babelfish is doing to catch the attention and support of all these people who I deeply respect. I probably wouldn't have bothered to look at Babelfish if I wasn't already part of a strong Sovryn community.

Once I took a closer look at Babelfish, I realized that it wasn't just an awesome solution for achieving 1:1 transferability of stablecoins that also serve as a universal bridge between all blockchains. There was even more going on here. Babelfish has developed a really innovative model which has the potential to be very profitable for early adopters. The Babelfish community is developing a means to collateralize stablecoins with cryptocurrency DeFi investments. Babelfish is a brilliant solution that solves many problems at once. The project is relevant and provides utility on every blockchain. It's a serious contribution to the entire cryptoverse. But how do you make a profit with this protocol?


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The community is building a DAO and minting $FISH governance tokens. Every time you feed stablecoins to the Babelfish protocol, the protocol issues a 1:1 quantity of universal stablecoin, called xUSD. These xUSD stablecoins (which I like to call "Babelcoins") are transferable at a 1:1 ratio with any stablecoin. Each time a user feeds stablecoins to the Babelfish protocol, the protocol also issues some $FISH governance tokens to the user. I'm sure there will be some incredibly exciting DeFi incentives with the $FISH governance token. I can imagine profiting from $FISH governance participation, staking, providing liquidity, and even some LP token farming.

The $FISH governance tokens will certainly have increasing value because the project will have increasing value. The $FISH tokens don't need to have specific utility or tokenomics beyond their primary function as a governance token. The Babelfish project itself, and specifically the utility of the universal 1:1 xUSD stablecoin insurance protocol, are innovative enough to produce governance tokens which become highly valuable to the entire crypto community. Don't miss the chance to get involved at the first opportunity. Bring your talents to the community and stay active. We need coders, designers, bloggers, community leaders, you name it. There's community-driven logo design going on, and we're all talking about how to bring this vision to fruition in the best way. Please join us! Let's build Babelfish together. Thank you for reading! I look forward to engaging with you in the comments section below. Please like, tip, and subscribe if you found value in this post.


-NOVAX



Read my previous post:  Revolutionary Stablecoin Protocol, Babelfish, is about to go brrrrrrr! $FISH $xUSD

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NOVAX
NOVAX

Cataloging my discoveries from the fringes of the crypto economy. Finding deep value in decentralized small caps. Block To The Future blog author & Vaxxed World contributor. Tracking innovations in multi-chain defi, yield farming, nodes, and staking.


Block To The Future
Block To The Future

Get in my DeLorean. I'm looking for deep value in small cap blockchain projects and cataloging my discoveries on the fringes of the crypto economy. This crazy old man gave me a copy of Novax's 2050 Crypto Almanac so now I just need to place the right bets and I'll be rich.

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