Crypto’s Chicken and Egg Problem

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So I’ve been playing with the various defi platforms on binance over the last few days. The experience has been somewhat illuminating for me. It definitely has a learning curve for those who are new to crypto. I’m also finding out that some are making some decent returns.

Yet, starting from scratch on any of these platforms would create a chicken and egg problem. This problem also exists within the legacy system. Although, it can be overcome as anything else in life. Yet, airdrops could be the solution to this issue.

Many of these high yielding platforms have made their parabolic moves so to speak. Basically investing now would be a fools errand. And I know the average person does not posses the $1,000 per token requirement. Buying a smaller amount would probably not produce enough yield as well.

As I continue onward on my crypto journey it amazes me how fast things move. Defi has certainly been something I’ve stayed away from.
Rug pulls and exit scams are a rampant reminder of the dangers that exist. Personally many of these platforms still have not solved the chicken and egg problem.

All inclusiveness in cryptocurrency is an important issue to me. Although I know most devs couldn’t give a rats a$$. The Hive ecosystem has shown that anyone can start with nothing and turn it into something. Many Defi projects can’t say the same thing.

This is why I believe that these high inflation coins will be the chicken to the egg solution. Imagine yourself broke with very little capital. Taking something so inexpensive and compounding into more would be something miraculous. This as opposed to investing money you don’t have or buying an overpriced defi token.

Crypto is an always evolving ecosystem. What may be hot today may turn into nothing tomorrow. This is why it is important to look at sustainability. Not to mention including all people of every economic background.

This is also the reason why some of these defi projects won’t survive. It is also why I have not really warmed up to the defi ecosystem as a whole. Some people have made it work for them and that’s a good thing. But personally I remain skeptical.

I will however continue to learn more and see where this journey leads. I will not risk much capital though. It has been eye opening at the amount of liquidity many of these contracts posses. What could possibly go wrong?

They always say stick to what you know. This is why I’m still venturing into the play2earn sector. The Wax chain has been absent from my daily routine for the last month. Checked in yesterday and to my surprise my stake increased.

Speaking of Wax the Void token has been on my radar for the last three months. It looks like they may have some play2earn offerings for the new year. Not to mention staking opportunities. As always buyer beware.

Bitcoin will definitely lead the way. There are so many opportunities in blockchain. The challenging part is finding the right formula to earn crypto. By far Leo/HIVE supersede any projects that I have participated in.

Maybe Hive has solved the chicken and egg problem for cryptocurrency. Many here have started with very little and built it into something. Hopefully we can lead the way into all inclusivity.

Well it’s back to the job for me. Got a few days off this weekend but got to spend it with the fam. Cheers everyone!

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4 comments
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What is the VOID token on WAX? I haven't been keeping up with them as much.

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Onessus is the developer behind the project. They have some interesting concepts coming out including a virtual world game like Gr Theft Auto. 3 titles total.

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That sounds interesting but that seems like a huge hurdle. A game like GTA 3 requires quite a bit of work

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