This October, I have just about no hopes for my finance, but I'm trying to be hopeful, at least for the time being. A lot of us are in this boat. And that makes it overwhelming.
The launch of smartBCH on the Bitcoin cash chain early this month was received with much eagerness and seen as a game-changer in the Bitcoin cash community. But the experiences so far has not been fair to many of us.
It's hard when you're in the trenches but the stakes are really high. The time for hope may soon be up, which means fear must take its place in your mental well-being. The question is when the time for fear comes, will you be able to keep hope alive in your heart?
This piece is a supportive piece for someone going through a tough time. It speaks of how personal financial decisions can make a tough time a little brighter. It acknowledges the struggles of a tough financial situation and speaks of what is to be done.
We try not to think too much about our money situation in October. Even though it signals the end of a bad run, the serial rug pulls and dump in the SmartBCH projects means this is not the time to visualize our financial potentials. But by this time next year, every one of us will be able to know where he or she stands in the scheme of things, and talk of crunching numbers of rug pulls and token dumping in this month of October will be a distant story.
We'll have to deal with the reality that the SmartBCH opportunities are uneven and that many of us are having a baptism in Defi applications. Many of you will have realized that October is not a month of losses in the SmartBCH ecosystem anyway. It's time to face the reality that many SmartBCH applications are still in their infancy, and many of us are having a first-time experience in the use of the decentralized finance Defi.
Our naivety, callousness, and a bit of greed have been our undoing. As it is right now in many instances, the fastest fingers have been the ones who win, while several of us have to nurse the hope of recovery from token dumps.
The idea that we can "make 1000% gain" is an illusion. We only knew how to start but we never knew where to stop. Anything that has an entrance must also have an exit. That was the problem for most of us. We wanted to get the 1000% APR and we could wait for it to get there even if it takes a year to reach it. But, most people don't see it that way, that's based on their experiences, they chose to play the smart way.
Most of us joined this community because we believed in the idea of fair trade and community empowerment. We believed it meant using what we have to benefit ourselves and others who could not otherwise achieve their dreams.
The people I know in this community truly wanted to make a difference.
But we were all inexperienced in the Defi ecosystem and players' behaviors. And now we felt we've been betrayed by those we trusted, by those we thought we knew, and by those we thought we could count on.
Excessive greed also took the greater part of most of us, moving from one newly launched Dex to another in search of a higher APR was the error that crippled several of us. Benswap was doing well being the first Dex on the SmartBCH chain. It was not long before many of us saw the appearance of a certain new hot Dex, which promised a large dividend and a mouth waterly APR. Although this offer seemed too good to be sustainable, a lot of people joined this project because it was that or nothing.
Greed was the center of it all, and this was the bait some evil elements took advantage of by introducing new Dex with a more higher APR and made away with people hard earn money. We have all learned our lessons and got the baptism in the DeFi ecosystem. Unfortunately, we learned it the hardest way.
Standing alone and Losing?
Most of us now believe that we're outgunned and outpowered and that we've already lost completely. Yes, most lost, and several of us now are nursing a hope of recovery from our investment in a dump token. And the decision for most of us now, is that we are done with anything related to smartBCH.
But only looking at our losses alone is like standing on the edge of a cliff and looking at the view. We lose totally if we don't look around to see the landscape around us, to see what others are doing, and then to choose our approach accordingly. With the right strategic orientation, we can win again and recover all our losses in the shortest time posibly.
To those who lost in the BeachSwap scam, especially members of my beloved Club 1 BCH my heart is with you all. Notably, my friend @MoreGainStrategies who was heavily duped in the Beachswap scam saga, I feel your pain brother. And my dear friend @Jane, my heart is with you, we are nearly on the same boat.
Oh, what an unusual October in the BCH community, a month of innovations, a month of tensions, a month of opportunities, a month of joy, a month of sadness, a month of sleepless nights, a month of gains, and a month of losses. And, above all, it was a month of funs and learning.
Crypto is unpredictable and it calculation and extra cute in order to make gain