Everyone wants to be the first to know, do or discover something. Hardly anyone wants to take the time to appraise that new thing before carelessly applying it in a manner which causes more problems than good.
This innate human desire leads to mania and overreaction. Cryptocurrency and blockchain are as revolutionary an invention as any in human history. Their problem has arisen from a fundamental misunderstanding of what the technology is actually for, capable of or how it can be used.
The dot com bubble burst in the early 2000s eradicating innumerable projects which had raised a level of capital that was previously unheard of. The reason the bubble existed was two-fold:
- Money followed money and greed governed the minds of many looking to make a quick buck — of course, that rarely works
- The levels of innovation in these companies were effectively 0. Instead of using the technology in a way that achieved things that were previously impossible, people picked the low hanging fruits and replicated the analog world in the digital universe
The replication phase of any revolutionary technology leads to the crash and burn of the industry before it has even been created. Speculators bail in spectacular numbers and the crash leads observers to suggest that the new shiny thing won’t work. It’s just a phase.
If not it should. The same thing that happened to the internet is happening to blockchain and crypto. The rise, crash and dismissal of the technology before it’s purpose has even been fully realized is happening as we speak.
In the same way the internet recovered from it’s prematurely predicted demise blockchain and cryptocurrency is evolving to do the same. Gone are the freeloaders hoping to make their fortune. What remains are the engineers, dreamers and innovators desperately searching for the next wave of global revolution.
The ignorance in blockchain is startling, everyone’s an expert while nobody has any idea grounded in the first level principals of reality
My guarantee to you is this — if you’ve read:
- 1 x book on Crypto
- the Bitcoin whitepaper
- 1 x book on Blockchain
- made 1 x Crypto transaction
You can confidently say you are in the top 0.1% most knowledgable people on Cryptocurrency and blockchain in the world. That’s how low the bar is.
In fact, as I’ve begun to say that to people, evidence has made me realize that my initial estimation is off by two orders of magnitude.
0.1% would mean you were in the top 7.5 million
Doing the above will place you in the top 0.001% most knowledgable people in the world about blockchain and cryptocurrency.
0.001% would mean you are in the top 75,300
Do you wish you‘d been one of the top 75,300 most knowledgeable people in the world about the internet before it’s rise? That is the same opportunity you are faced with right now.
As the majority of your peers fake it until they become it you can race ahead of them through simple actions which endow you with a unique set of skill and knowledge. While they try to reinvent the wheel you can build the mechanisms which change the world.
If that sounds grandiose, that’s because it is.
The people who revolutionized the internet first distilled the essence of the new technology understood how the pieces could fit together and then created the previously impossible.
The networked age wasn’t achieved by copying what came before.
Bitcoin and Blockchain are the revolutions they have been painted as. They will change the world in ways we are currently unable to imagine. In simple ways, ensuring a level of transparency, trust and security that without it is impossible. In hard ways, improving finance and cutting intermediaries who steal pennies from our cash.
Do or do not, there is no try.
This fork in the road presents two distinct options — action or nothing
One sends you backward, the other to the front of the line
By doing something, anything at all, you face the prospect of discovery and have the chance to learn