I’ll admit, I’ve gone down the “is it a good or bad investment” rabbit hole many times. I’ve gambled on coins and lost and I’ve gambled on coins and won. Same with stocks. I made a nearly 500% on one. I’ve also lost nearly all my money on others.
But, sometimes, it’s not about the money.
As I’ve mentioned in previous posts, I was an early adopter and user of Dogecoin. I also got on the Banano train pretty early.
I love both of these cryptos dearly, and over the years I’ve had so much fun participating in and seeing how the communities have grown.
Banano’s regular contests and giveaways and the Dogecoin community’s generous heart make me proud to hodl these coins.
Both coins, and really, both communities share so much in common. Sub-one cent values, open, welcoming users who are happy to help others out - and a mission to make crypto accessible to new users.
I’ve seen a number of comments around the internet asking if one or the other is a good investment. And to be honest, the simple answer is no. If you are looking to speculate on either coin’s price and potential for growth, you’ve missed the forest for the trees.
I’ve never thought of either as an “investment” or get rich quick scheme. And I honestly don’t believe either is. That would defeat their purpose.
Banano makes use of its fun, easy to set up wallet and DAG architecture to spread monkey joy. Users routinely engage in fun and silly contests. The low to zero dollar barrier of entry makes it an enjoyable way to participate in the crypto community without the pressure of analyzing what will happen next.
Dogecoin, in a similar vein, exists to spread memes, contests, giveaways and really good faucets.
Neither of these coins “solve” a particular real world need, or provide an “alternative” or competitor to another coin.
But then again, perhaps that IS the problem they solve - a fun, easy, well founded crypto with a strong community of engaged and resourceful users that appreciate and participate in the exchange of coins without thought to cost or gains or loss.
It’s not always about the money.
For example - I set a goal for myself to be a “Dogecoin Millionaire”. It's “stupid” from an investment standpoint, but, I never really cared about the monetary value or how long it would take me to get there, or even if it was possible. I claim a little from CoinPot faucets and Cointiply and I’m happy to spend 30 minutes of my day doing so.
I do it more for the fact that it would just be fun to one day say I’m a “millionaire” - even if the reality of that in the real fiat world may not be possible. It keeps me engaged and active in a small portion of the crypto-verse.
I do the same for Banano - I participate in the discord and on Publish0x because it’s fun. I don’t plan to get rich, or become a “Banano Millionaire” - but I am in a community.
Oftentimes investing, speculating, buying and selling can be such a cold and lonely activity - even if it IS fun to make money.
But having an expectation-free and carefree way to engage with other enthusiasts keeps me engaged. (And is probably the reason I love Publish0x so much).
All that to say - its not always about the money. If one of these coins moons and we are driving Banano and Doge lambos then so be it. But I don’t expect to get rich, and I don’t hedge my bets on it mooning. I just enjoy the ride and the people I’m riding with.