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Recalibration

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@acesontop
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3 min read

I am literally being stopped by people on the street, that know I am in crypto to talk about crypto. It never happened before. Just a bit earlier, before entering the house, an acquittance stopped the car near me and opened the topic of crypto.

He wanted to share with me that he bought some I don't know what shitcoin and made X amount of money with it... Irrelevant. About a week ago someone at the gym was also talking of buying mining equipment and start mining crypto...

None of them have any basic fundamental education on this tech, but they want to be a part of it. Sounds familiar?

For some of us, who have been around in 2017-2018, that was a sign of a topped market and it was a highly precise metric. When everyone "was in crypto" and got "professional about crypto", the bubble deflated. It didn't popped, but it deflated.

We're no longer at that point now, no sir. This market has yet marked the parabolic rallies it had across the board back in 2017. We won't probably even have them anymore. The wild west era of crypto is history imo. We're no longer a minority betting on some digital money that's supposed to disrupt the internet and everything around...

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The disruption process is in place, and although the market doesn't reflect it, I assure you that we're on the right path. Somehow I would be happy if the four years cycles would end. Why wait for four years to be wealthy or for the media to pay any attention to this tech when you can live that all day everyday.

Now, what would you prefer for HIVE, a volatile market that would push the price 30X once at four years, or a continual uptrend fueled by development and expansion with less volatility? I'd choose the second option, hands down.

The largest supermarket company in the European nation of Croatia, Konzum, says it is possible to buy all of its products online and pay with one of nine supported digital currencies. Did we have that back in 2017-2018? Nope... Did Jack Dorsey quite twitter for focusing more on Bitcoin, four years ago? Nope...

Oh, here's another one: KB Kookmin Bank, one of South Korea’s largest financial institutions, announced yesterday that it has developed the KB Metaverse VR Branch Testbed for experimenting with allowing customers wearing a head-mounted VR device to access banking services in a metaverse.

It would probably take me all day copy pasting news regarding the mass adoption of crypto around the world, or events that push it, but you can do that research for yourselves as well. The idea is, or should I say my take is that we are no longer in these four years cycles. These makes no sense anymore, not even for miners, where large pools have gone public not being in the position of living from selling Bitcoin they mine. The total market capitalization is on a different level, too.

For months and months crypto gurus from twitter are waiting and sometimes forecasting blow off tops for Bitcoin, that should happen this year, trying to guess how a future bear market will look like and they're all doomed to fail. It's not going to happen. History won't repeat anymore, but we are in the process of making history.

We're so lucky and still so early. I truly believe though that the wild west era of BTC is a thing of the past. My take is that the current market conditions are that dull, just for the big players to load their bags, some of them being locked forever, cough MicroStrategy. We're gonna have to move on from that wild speculation and be part of projects such as Hive that have real world use case.

It's not like volatility will fade away too, but I believe it won't be that aggressive anymore. Anyway, hope you're having a fantastic day and see you to the next post.

Thanks for attention, Adrian

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