The coronavirus pandemic is not letting up. The financial markets are struggling, and the NFT market has firmly moved into Bear territory. I feel concerned because I turned my fungible USD into ADA at 2.25, and if I wanted to buy ADA today, it would cost 1.13. I took the staked ADA, which could be growing if left alone, out of the fund and turned it into non-fungible NFT's. At this point, it feels like I have made a very disastrous decision, akin to pulling out all my money from an ATM and lighting it on fire.
I talked to participants and read media to try and get a sense of how much I should worry. Inside the crypto environment, people who had joined months earlier were still riding on their gains and quite happy with the ability to pick up NFT's at a cheaper cost. They were happy to "buy the dip" and get themselves situated for the eventual rebound. People who came in when I did were bemoaning the lack of liquidity, listing NFT's that others were not buying for more than the mint of a project.
I had chosen to buy heavily into three projects that required that I hold and not flip the assets. How was I going to make any revenue?
Buy the dip, I was advised, and pick up some low assets to flip. Diversify your wallet, spread it out across as many projects as you can stretch. I reluctantly grabbed another 4k fiat from the savings account and converted it to ADA. I didn't bother putting any into a stake pool as this would be flipping currency.
Time to sell!
I put the turtle on the market and the CNFT con pieces. I put bears, hosky dogs, OG viruses, a few Super viruses, and even some of my beloved Vudu on the market. With the leftover ADA, I bought into projects that offered DAO's and revenue in the future.
I picked up Paperhands Club, Cardano Villages, and Artifct Moon.
I focused on art and picked up Entheos, Paperbox Era, and Rust in Pieces.
I added Kaerus, Hoppers, Reapers, Adaverse, and Tigers for a little more diversity.
For the Lions, Vudu and Virus, I would need to wait until maturity. For the revenue ones, I would also have to hold; for the flippables, I'd have to watch the market.
Many financial gurus indicated the ADA coin and the Cardano blockchain would go parabolic by the beginning of the year.
Just hold on.
The pandemic would go away by Easter, by summer. It would only hit the elderly hard. We had a vaccine, three vaccines, and required a booster. It merged with the flu. It became less lethal, but it had long-term side effects. Children didn't get it as bad. No, children got it just as bad, but it presented differently in them. It's a respiratory illness; no, it's a cardiovascular disorder.
Just hold on.
Aid from the government would help those small businesses that were shuttered. They would help the small restaurant or shops too small to survive. Grants were coming, loans were possible. If you played by the rules, forgiveness was possible. You could still get help; just fill in another form and fill it in again; we respond as fast as possible.
Just hold on.
Justice would come to those who had subverted democracy, defiled America, they would get their comeuppance, and we would not end up living under a Christo-fascist regime. Racists would see the inhumanity in their thoughts, the Supreme Court would rule impartially. Your country can correct its trajectory.
Just hold on. Just hold on. Just hold on.
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