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What everyone should know

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Avatar for dansontela
Written by   26
8 months ago

We are now entering into the last day of the Splinterlands season, which is affectionately known as the silly season for rental prices. But, starting in a day, this might be the last of them, as the new rewards mechanisms could flatten the curve at the end, seeing more steady prices for rentals throughout the 16 days instead. It is going to be interesting to watch.

Yep, I missed the snip...

I like the end of the season shenanigans however, because it is a bit of fun jigging the numbers around and trying to predict what people are going to do to make up their CP. This season, I have gone a bit lower and will likely wait until later in the season before raising them, only because I have a bit more time to play, since I am sick at home from work. The difference in outcome doesn't matter that much, as it is only going to affect by maybe 10% or so, but still - fun with numbers is a thing.

Don't tell my math teacher.

I sucked at math at school. Well, I was really, really good with simple math and cutting up pizza and fruit for fractions and the like, but once it became more theoretical and less practical (meaning I couldn't eat the results), it all went above my head. These days of course, I wish I had learned more and studied harder, as well as did more statistics classes at university than the couple I had to. I sucked at them too, but that information would come in handy now.

Funny how something that I had very little interest in as a kid, is where I now spend a great deal of my time as an adult. I think this illustrates how poor children are at predicting their needs for the future. This doesn't mean adults are much better at predicting it for them, but at least when it comes to core components, maybe adults with enough experience know relatively well what is likely to be needed.

I see it as the "building blocks" of skill, where there are things like reading, writing and mathematics that are core to our development, Some I know have argued for example, that with computers and "smart" technologies, these skills are less applicable, but I think that they is the point. The value is in the development of the brain and thought patterns, not necessarily in the need to apply them in every day life. It is similar to the "read them fairytales" argument for developing intelligence, is isn't the fairytales that are important, it is the engagement of the imagination to build a world in the mind's eye that doesn't exist.

This is the value I see in participating here on Hive or in the crypto scene in general, as it allows for a comprehensive, engaging and very practical look at economics. It is like when I was in primary school cutting up those oranges and pizzas in my imagination to visualize fractions, except I am able to interact directly with them, in a kind of "augmented reality" from the economic perspective. This means that I am able to learn and of course, there is the benefit of earning along the way and understanding the processes with very real skin in the game.

From my own observations, I have seen many, many people over the years completely change their economic futures through participating here in more than just the sense of earning. Many have fundamentally changed their outlook on finance, the economy and their personal decisions in order to become far more savvy in the way they use their funds.

What tends to be the largest shift is the lengthening of the viewpoint of what is "long" in terms of an investment return, with the people who have moved from the weeks and months into the multiple years and decade, doing the best. This doesn't mean they are always the ones who buy the low and sell the high, but they are the ones who are consistently staying active and growing their stacks.

"Mind on my money, money on my mind"

While money isn't everything, if we are actually going to "be our own bank", we are going to have to start behaving a little bit more like banks, meaning that we have to consider our resources carefully and do far more investing to generate income, than spending to waste potential. While we might be in the pursuit of happiness, every move a bank makes is in the pursuit of money and profit for stakeholder wealth, and what we have to seriously remember is, we are the stakeholders in our own future.

If we aren't behaving in ways that support our future happiness, no one else is going to do it for us. Behavior is driven through conditioned habit and intentional action, and it is no surprise that we have been conditioned to be consumers, not investors. This means that the intentional activity has to come from us and externalized, and this requires understanding what we want, how things work and the way we are going to use the resources we have to move in that direction.

But, in order to do any of these things, we really should start with why we are doing it in the first place, as if we do not have a compelling why, we are unlikely to be able to invest ourselves to the degree we need to do what we need to do, especially for a prolonged period of time, which is what it is going to take for crypto to build into a fully-fledged industry.

What I like about Hive is the barrier of entry is so incredibly low that anyone can get started on their learning journey to build the knowledge they need about the financial world and how, they can build a home amongst it.

What should everyone know?

As much as they can about economics.

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Avatar for dansontela
Written by   26
8 months ago
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