Movies are an obsession of sorts for many, so is dealing with cryptocurrencies. The massive highs can easily outperform any high from a thriller movie and its drops can make scariest horror movies look comical. Besides being an obsession – there are many other uncanny factors that intertwine these two seemingly unrelated topics.
Fandom is real!
You never praise Star Wars in front of Star Trek fans or vice-versa. Doesn’t really matter how objective or open-minded these fans are about every other aspect of their life – when it comes to this all-important debate of ‘which is better: Star Wars or Star Trek?’ – each group has only one answer: ‘theirs’.
Don’t mind the people like us who hate both of them equally – don’t mind the fact that some of the movies that came out from both the franchises sucked – don’t mind the mind-numbing marketing gimmicks that are played on these gullible fans into buying into ultra-expensive memorabilia – don’t mind any of that. You never poke at the beehive that is fan club.
Still, the sting you will feel from the fans of crypto nation is worse.
You never praise Bitcoin in front of a Bitcoin Cash fanatic or vice-versa (Hint: There is no contest here, Bitcoin is better if you like long-term value, that is why we don’t even care to use ‘Core’ in the name, in our opinion there can only be one king and that is Bitcoin).
While there are not many rivalries in the movie industry that can live up to Star Wars vs. Star Trek cadre – that is not the case for cryptos. Crypto space offers even more intense war grounds for many many projects. In fact, if you ever get bogged down by the ups and downs or if you feel low, just visit one of the social media pages (telegram, Reddit, etc.) and post something against their project, grab some popcorn and enjoy! (don’t do this if you are thin skinned).
Even the best ones need marketing
Have you ever watched the movie Edge of Tomorrow? It has Tom Cruise and Emily Brunt. If you have not heard about the movie or did not watch it – it is not your fault. The marketing was woefully lacking for a movie that carried a great punch for the thrill-seeking moviegoers. It has an 8 star rating on IMDB but did not do great at the box office considering its 175 Million budget.
When Pantera Capital’s CEO, Dan Morehead, mentioned ICON during a Bloomberg interview, the reaction of the interviewer was a good example of what happens when marketing has not done its job. ICON has since stepped up its awareness campaign but it should have started way early.
Search for the better never ends
A good movie that you just watched does more harm than good. It increases your standard of entertainment. If the next movie is not as good (or better) – you will be disappointed, even if that movie was a decent one. So, you start screening for the next best one. Before you know it – you find yourself spending more time searching than actually watching.
That can be said of crypto space as well. Those who were able to get on the high-rides of Bitcoin, Ethereum, NEO etc., will probably find it difficult to settle with 50%, 100%, 500% or even 5000% gains. It just doesn’t cut it for them.
Even in this bear market, some good projects are selling at 300% gains from their ICO price, for instance, Wanchain is trading at 94 cents, that is 3 times higher than its ICO price of 30 cents. You ask any Wanchain fan as to how the project is doing (even those that were able to get in during ICO at 30 cents) – they will tell you a sob story. Because they are comparing it to its all-time high of $9 (that’s 30 times from ICO).
For a normal person trading in traditional stock market space, 50% gain is a rare occurrence – but in the crypto club 300% gain is a disappointment because the point of reference is 650,000% gains (yes, that happened with Bitcoin from $3 to $19,500, even in today’s bear market, it is still up 216,000% from its $3 rate at one point).
Budget doesn’t determine the outcome
Did you know Paranormal Activity was made with $15,000? Yet it grossed 180 Million dollars with Part 1! Ever since the franchise has launched – it has made over $890 Million. Bitcoin did better, much better and it was relatively free at the beginning and its rewards – uncanny. There is another similarity too – Paranormal activity left goosebumps while watching and after in the audience minds while Bitcoin has become nightmare to the very structure of traditional financial mafia.
There was a movie called Adventures of Pluto Nash (most people may not have heard about this, and for good reason) made with a budget of $100 Million and it made a meager $7.1 Million. People investing in ICO markets can relate to this – 100’s of millions of dollars just evaporating in the thin air as more and more ICO projects bite the dust.
Hype doesn’t equal content
Sometimes, hype helps sell the tickets but doesn’t keep the momentum. There were so many movies that were supposed to forever change the course of Box Office records and they ended up changing the producer’s fate for the worse! A Wrinkle in Time lost Disney $100 Million – even Oprah Winfrey couldn’t help lift this movie up! (pun intended).
Coming to the crypto space, there were way too many amazing-world changing-millionaire making-trend setting-making world amazing place-etc-etc-etc projects, all resulting in a big splash of shit on investors while the guys behind the projects fled with millions of dollars.
More the hype – the worse
Generally, the more hype something garners the worst it performs. Look at these movies that were supposed to be hits and they made big holes to the producers pockets.
BitConnect is a classic example from the ICO/Crypto world that this space will probably never forget, even if one tried. Can you imagine a fall from 2.85 Billion to 13 million? No roller coaster in the world, not even skydiving, can match that fall! That’s about 219 fold collapse!
Do you know the worst part of this story? BitConnect is still trading at 5 times the ICO price! This sort of thing can only happen in the crypto world!
Sometimes too many good ones come out at the same time and it hurts few more than the others
If you have to decide between multiple good movies screening at the same time, chances are you are forced to choose one over the others.
When multiple good ICO’s come out at the same time – it is easy to miss one over the other. When this competing for the crumbs ensues, projects that could have changed the world for the better don’t get enough funding and are forced to close the shop.
Especially in this bear market, many crypto folks can relate to the pain of that choice. There are just so many good projects that are on sale but many have limited FIAT to spend on.
Wait, there are lessons here!
It’s not just the comparison, there are lessons to be gleaned upon from these parallels.
Enter without expectation, and enjoy the ride!
If you cannot handle scary movies – don’t watch one! If you cannot risk it – don’t invest in Crypto!
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IMPORTANT DISCLAIMER: Do your own research before investing. Crypto space is very volatile, don’t invest more than what you can afford to lose. Everything in this article is an opinion, not an advice of any kind.