The shield of the industry & vulnerabilities of investors
Crypto like every investments out there is not without risk, but in order to abate and prevent unnecessary eventualities every business must put out pieces of information laying out rules and best practices for parties involved (institutions & investors). But I believe the decentralized nature of blockchain tech. coupled with seamlessness in launching and trading of cryptocurrencies (altcoins) have made crypto trading seem unofficial and casual to some investors, whom resorts to profit stories for a delicate thing as making investment decisions intead of information based facts (at least to start with).
DIOR before making crypto investments can never be over emphasized, but too many shills, FUD & speculations are equally undermining full adherence to this ethic of crypto investment. Things like ensuring and investigating liquidity locks before launching and buying of tokens is no longer a norm amongst blockchains and investors, consequently, countless portfolios have become 'grave yards of dead altcoins' (rugged projects). You can check out how I equally failed for it during my early days in crypto, on the PART 2 of this series.
And just like the the jury doesn't consider ignorance an excuse enough for violating the law, any attempt to complaint about some of these crypto misfortunes points victims (investors) right back at the very thing always neglected; unending long caveats, agreements and disclaimers. Which to my own opinion makes DeFi a kind of unfriendly to investors, especially the uninformed but well to do financially.
On the other hand bockchains and exchanges launches and lists everything but aren't accountable for everything, and their sophisticated caveats & disclaimers places the full weight of investment liabilities upon the shoulders of investors. And to crown it all, whenever financial whirlwind hits some sectors in the industry, recovering of investors monies becomes a gamble, which is why you should "invest how much you can afford to lose". You were told!
With all these crypto catastrophies, especially the most recent scandals, I have no doubt that wherever he is, Satoshi must be nodding his head in disapproval of what blockchain have come to be, more like a hideout than solution. Well, no matter what, every "cryptocians" hopefully keep our head-up believing that the bars would definitely turn green someday. Juuuuuust HODL!
But now the question remains; if the industry is that immune to accountability then how safe are investors, and even if our safety is not yet fully guaranteed, how can we navigate the cryptoverse without jumping much bumps along the way,
especially now the industry is still in its infant stage and haven't gotten everything in order in the area of accountability.
Because for all I know safey remains a personal responsibility on this lonely road of decentralized, self custodial and bankless financial system, cryptocurrency.
The only thing I've learned so far is that it's not always about knowing the terms and how to trade, nor availability of spare cash to jump on every "investment opportunities" that shows up (some presumable opportunities should pass one by especially in the world of crypto with inexhaustibly investment opportunities), non of the above guarantees success in cryptoverse. But now what? Join me let's discuss the only solution for proper navigation in cryptoverse. And if you know any, kindly drop it in the comment box.
Until our next rendezvous, let's make the most efficient use of our time on Publish0x, the vitality isn't just in the tips (that alone is an imbalance meal), rather, a balanced meal in P0x will consist of a tip and a taste of the texts to the tips (always remember the three Ts). Thanks for joining me on my first post and don't forget to add a follow up on that 'balanced meal' by simply hitting the "follow button.
