I'm still learning about crypto and have enjoyed it so far. Unfortunalty, there have been 3 initiatives that come to mind where I jumped in and I should have just gone for the basics (e.g. Bitcoin, EHT, HIVE, etc..). There have been successes as well, but let's talk about the learnings first.
Have you joined any of these and felt that you made a mistake?
1. EpicHero
3d NFTs of Greek (and other) gods? Dungeon crawling? Safemoon (more on that later) of gaming? Yes, please!!
That must have been around Q2 of 2021, when everything was going up. I joined and bought 1 NFT. The earnings were pretty good and the NFT looked very nice. So I bought 1 more. And then there was a deal for 5, which I bought. Then new gods come out and I bought 3 more. Than TITAN fighting was released and I did that as well.
Then slowly the returns started decreasing and the value of the NFT stopped rising. I slowly (should have done so earlier) realised that this was going nowhere. To earn some decent crypto, you would have to invest more. And the more you invest, the lower your ROI was becoming.
I haven't been able to sell any of my NFTs and the "Questing" income is very, very low. It's a shame I joined, but you learn from your mistakes.
2. Safemoon
Wow, this was quite a journey. Again, it must have been around Q2 2021 when I learned about Safemoon and thought that it was a very interesting concept. I bought some Safemoon tokens and was excited about their roadmap.
Then the drama started, let me see if I can remember: Some of the developers claimed it was a scam, product launches were delayed, V2 of Safemoon was launched with issues, Global marketing (e.g. Timesquare and in London) on big billboards with a countdown to the wallet launch, only for the wallet to be delayed, exchange that was promised that did not launch, vague collaboration with Ghana, CERTIK audit, many other events....
The concept sounded cool, the execution was dreadful. I should have stayed away.
3. PearZap
PancakeSwap and many other exchanges were hot and Pearzap sounded like a new hot contender. It had a good team behind it and lofty ambitions. They communicated often and openly and were working very hard to achieve their roadmap. And they did achieve it!
It looked like clear sailing and all was going well. There were a few problems, but everybody has them. Unfortunately one of the problems required a decision and to PearZap's credit, they put the decision to a community vote.
What happened was that the community did not vote as they expected and they did not have a plan B.
The price went down to 0 very quickly and the project stopped. I do not believe it was a scam, but also believe that the project was mismanaged in some aspects.
You need to fail in life to succeed and I see these moments as learning moments. There are other learning moments as well (e.g. LUNA), but these stuck with me the most.
I should have stayed with existing games instead of trying new games based on fancy art.
Invest less than 5% into new project and keep the rest in solid crypto initiatives
Don't chase yield, chase stability.
There has been successes as well, such as:
HIVE Network
Splinterlands ( Referral link )
Rollercoin ( Referral link )
Ghost Trader ( Referral link )
Rising Star ( Referral link )
Publish0X ( Referral link )
What have been your learning moments?
