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Cryptowriter: The Community in Crypto

By Thomas Wolf | Thomas Wolf's Den | 24 Jan 2021


One of my greatest joys in recent years has been being an addition to the Cryptowriter team.

"There is no power for change greater than a community discovering what it cares about." ― Margaret J. Wheatley

Everyone is a little biased, if only for their own unharmful personal interests.  Imagine, suddenly you are surrounded by many people who are quite intelligent, but all have incredibly varying ideas, some of which conflict with your own.  My impulse has always been to be a team player, which I think all team members should do - however, there are times where this doesn’t apply to me.

People are often wrong.  What’s more, it’s usually obvious.  Even worse, they will still disagree with you about it after you explain it to them.  I do think people see what they want to see and hear what they want to hear most of the time, and then there’s the other guy; the one who can’t agree on or seem to like much of anything; the naysayer of the crypto world.  Many, on the other hand, are right or at least right in their contexts.

When I was young, I was taught to read on, keep reaching for the stars and let my limits be the ones I find and set for myself.  Never break integrity for anyone because there is no surer way to a sad life than a one-way ticket to irreversible grief.  Let’s just say I tried it once, and it wasn’t for me.

I find the need for community in crypto to be an interesting element of the entire concept.  It forces a social status quo for anyone who is active in most projects.  I can see why many people say their single best decision was joining a team; you have many more minds and resources available to you.  Your word and message are spread further through the work of friends and associates.  But, the core of this social need comes from the need to breathe life into the formless.  Without community, crypto is dark and cold and quickly relocated to the past-tense.

It is entirely possible to make it on one’s own this day in age, but I must ask what the point is when the core of crypto is tied to the need for community and interpersonal relations.  I wonder how others feel about it; does it feel generic, genuine, or professional.  Is it helpful or harmful?  Does it create limitations or break down barriers?  I say, whatever the resolve, take the good with the bad.

Crypto cannot exist without social support.  It would cease to function.  It would be about as relevant as the color of a stain on a stone lost miles beneath the Earth’s surface.

Bitcoin is looking bearish, and I stopped trading it because it was a waste of time when I could trade altcoins/tokens such as Uniswap (UNI), a personal favorite of mine for flipping, and then buy Bitcoin cheaper the next day.  The FOMO seems to be primarily institutional after Bitcoin breached 41K and fell hard.  Alts have been effective, and I’ve easily caught multiple 15%+ swings; I don’t see any reason to stop, and I know why I was onto the spin I was before catching covid; I’m recovering now, but my portfolio will need a minute.  My financial aid comes soon - but so does tax time.  It’s always something, isn’t it - for example, how is Bitcoin anything but an institutionally controlled asset now that it is primarily institutions buying it?

Ethereum (ETH) is looking quite bullish, and I’ve been using Ethereum as a market indicator instead of Bitcoin, which shows how much power it has had over the market.  I can only assume that the heavy social support around Ethereum and the desire to punch clean through their ATH (all-time high) and break records has never been greater.  I’ve found that particularly within ERC-20 pairs, the correlation in % gains and losses is more heavily linked to ETH than BTC, which makes sense.  The altcoin market is looking pretty strong this altcoin season, I wish I would have been able to hold my assets from last year, but I had to do this little thing called survive.

I wonder if this battle between Bitcoin and Ethereum will lead to new top altcoins as competition rises.  With Bitcoin at $32,329 USD, Ethereum at $1,265 USD, and many altcoins thriving off their recent pumps, it could be any coin’s game.  My conclusion on the cryptocurrency community is that it is vital to success for crypto and thus crypto investments as a whole, but not essential to success for crypto traders.  There are many ways to make a living with crypto - but are we stuck to our distinctive methods or are we evolving?

My question is:  Why only use the same old strategies to earn and learn when it is evident that teamwork will produce more significant results?

As always, comments, suggestions, and friendly debates are highly encouraged.

Stay smart & Stay safe.

-Thomas Wolf

Cryptowriter is now conducting podcasts which can be found on PocketCasts, YouTube, Spotify, Anchor, and more to come.

DISCLAIMER

I am not a certified financial, tax, or legal advisor, analyst, or planner.  The above information should not be considered advice but as an opinion intended to share information and ideas for entertainment and independent research purposes.  Cryptowriter and its writers are not responsible for any losses or damages incurred as a result of misinterpreting personal opinions for professional advice.


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