The investing world is full of FOMO (fear of missing out) at times. It is what often drives markets, often to the point of insanity.
For some reason, there is that itch within us. We see something starting to take off and we do not want to be left out. No matter what the platform, none of us wants to get left behind.
When it comes to money, this is only magnified. The emotional attachment we have amplifies all feelings. This is why traders will tell you that paper trading versus having real money on the line are two totally different worlds. The emotions change everything.
Part of the problem is we were reared in a world of scarcity. FOMO is based upon the idea that there is not enough. We best get on board this particular investment or we will be left behind. The fabulous part about cryptoeconomics is that is no longer the case.
As I look at what is taking place on the Steem platform, I see this starting to unfold. On a regular basis new projects are opening up. This provides the same opportunity as what went before it.
Naturally, we cannot go back to the beginning of most projects. The early days for some of them are already gone. However, getting involved in today's start up might allow someone to become a Whale on that platform tomorrow.
In other words, if one bus departs, have no fear, another one is showing up soon.
Tokens are going to be coming at us from all angles. The world is not even aware of what is taking place. This is just the beginning of cryptoeconomics. Within the next year, we will see a 100X in terms of the number of tokenized projects that are out there. Many will not be available to most since they will be under the "accredited investor" rule the SEC put into place. Nevertheless, we are going to see a ton of opportunities.
Steem-Engine showed the potential of what is to come. This platform provided the opportunity for those who were not part of Steem in the very early days to get involved with new projects as they were kicking off. While most of these projects might not go anywhere, those who choose wisely are in a position to establish a nice stake in those communities. As they grow, that stake could become very valuable.
SteemLeo is one of the tribes I am very excited about. There are a total of 4.1M tokens outstanding right now. An aggressive burn program was put in place to help the value of the token long term. Here is an opportunity for newer people to get involved in something at the beginning. The project is only a few months old meaning that a bit of effort and some STEEM could make one of a select few very easily.
Of course, have no fear. If you feel you missed out on the easy days of LEO, there are going to be others. Imagine what will be offered when SMTs are finally released. How many companies will do airdrops in an effort to get some activity going? Remember, those who are on Steem have the expertise of how the system works. Those who are arriving to a site that implements SMTs will have no clue how it all works.
Here we see the opportunity to be mentors to others on those sites. Suddenly, each of us is thrust into the position of "expert" even if we have little idea about the subject matter of that particular site.
We are remaking the Internet. This is a process that is not going to happen in a year or two. We are looking at a 5-7 years process before the initial impact is even felt. When it comes to blockchain maturity, we are still probably a decade out.
New projects are going to be appearing all the time. Development is not stopping and innovation is only going to grow. As more people enter into this realm, they are going to have ideas which will be put into motion. Some of them are going to be light years ahead of what we are dealing with now.
Thus, as wonderful as the project that just ran without you is, there is a better one around the corner. This is something we must keep in mind. Abundance is the new norm. With expansion comes more opportunity and this industry is expanding on a daily basis.
Steem is also starting to kick it into gear. Throughout 2019, we saw the ebb and flow of development. Steem-Engine introduced tribes and they took off immediately. After a couple months, the number introduced slows down considerably. Now we are at the point where tribes are putting in the efforts to upgrade what they are offering. Those putting in the effort now will take potentially take off in the future. The ones that are lagging might be showing the direction they ultimate go in.
The price of STEEM, in my opinion, presents a terrific opportunity for people. Of course, many of us feel this will not always be the case. That said, it is best to step back and try to see what is taking place. Even if one opportunity is missed, where are the others located. With Steem, there are many different approaches one can take. The path to follow is up to each individual.
Tribes, SMTs, and DeFi are all going to offer a lot of choices going forward. We are in a situation where we are literally only capped by the ingenuity and innovation of the people who are involved. Great ideas are appearing each day. Some are ending up as projects that are welcoming other participants.
Therefore, have no fear. This party is not even close to ending. In fact, we are just laying out the chips and dip in preparation for the guests to arrive.
And if you do show up only to find one chip bowl empty, relax and know that we have an endless supply of bowls on the way.
Thus, it makes no sense to get upset about someone else getting the last chip.
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