|
November 07, 2021, 10:03:27 PM |
|
As I have commented in other posts, I have been retired from crypto since 2017. That was a great year, I did some money I lost some money but what is most important I enjoyed the run. That is to say, I was not a hodler but mainly a trader, for a short time. However, I decided that it was not for me because it required too much attention. I was not going to be a millionaire with the amount of money I could invest, so I decided to spend my free time in other hobbies.
However, a few days ago I received an email from Bittrex Global saying that they were going to close a wallet were I had some balance. Long-story-short I had some 1ST firstblood in my wallet (frezzed by Bittrex back in 2017) and I had somehow lost the automatic 1ST swap 1:1 to DAWN that occurred in Bittrex the 22nd June 2020. Now, my coins are not circulating and have no value.
MY THOUGHT IS:
All these years I have sporadically put attention in the bitcoin/crypto evolution. The bitcoin value have multiplied by three after four years (but it reach $3,000 and was way below $20,000 most of this time). As for altcoins, some that I had back then have multiplied by ten. However, others have dissapeared and others have evolved like 1ST. In fact, BTC itself split in BTC GOLD and BTC CASH back in the 2017. Were you a strong hodler, you had make some money. However, what was the cost?
Because you cannot simply sit and wait... if you had bought BTC in 2017 at $13,000 and you needed some money before 2021 the BTC was $7,000 most of the time... The thing is that your money was frezzed during four years, that was the cost. So, you better be a hodler that just needs the money in a bullish year...
As for altcoins, you better be up to date with the swaps. Because anyday that coin you have may mutate into something better and you may be left with nothing because of a developers/community decission... In this case the cost is that you have to be up to date, constantly.
I understand this happens with fiat too. Fiat money changes but at a much lower speed, and you only have to worry about the one that is used in your country (in fact in some countries we have to worry about two..).
What I wonder is what expect us as the altcoins become more common and each company you buy something to, each employer you have, and each important person you admire had one? May we expect to spend more and more time in being up to date just to protect our earnings?
|