Cryptos

I wanted to make this quick write up about what is going on in the cryptocurrency space.

First of all, if you are basically very new to this space and know nothing about it, then you need to understand that there are thousands of different cryptocurrencies, but you must also understand that all of these currencies are not "aiming" to be the next common currency (etc dollar, euro), which you can use for trading goods and services.

More likely most of these cryptocurrencies are companies based on Blockchain and Distributed Ledger Technology (DLT), which have their own use case to solve some specific problem while using the benefits what the technology itself provides.

But this write up is not about explaining the technology, but more likely to share a better picture for people, who are in the middle of still thinking if this thing is real or not.

Some of you may be thinking that it seems to be really shady. Maybe all of this will collapse and it is just a bubble and the whole market will disappear one day?

There are definitely people, who have these doubts and fearful thinking about this space.

And I think there are two types of people.
People who don't know much about blockchain/cryptocurrencies and have not taken really the time to educate themselves to fully understand what kind of value this technology provides (funny thing is some of them still have very strong "opinions").

People, who kind of understand the value it could offer to the economy, but they have such a disbelief that we could go through such a major innovative change/shift. They believe that the old framework is so strong and it is not possible to just rebuild all the existing models "which have been working nicely so far".

I am not blaming these people for anything, as I know this space is still in its early stage and the content here is really technical which could be really overwhelming for some people to consume but I think if people are making the decision to not be part of it and just sit on the sideways, then they could miss out a lot in terms of opportunity. In some cases, if you have an existing running business, it could also end up as a significant loss of market share or even being completely wiped out.

But of course, anyone who doesn't know what they are doing in this space could also get really hurt. This doesn't mean, you just enter the market and it is all rainbows and money starts pouring in from everywhere.

In terms of investing if you enter the wrong time, you could be sitting on your bag for a very long time before you can start calculating your profits.

Like everything in life, it requires being smart and focused.

Anyway, if I stand sometimes in a situation, where I don't know what to do or I don't know the answer to my question, then I try to find someone who is way smarter than me and ask from them.

And in this case, I don't mean an uncle who is earning 3 times more money or just a close relative who is quite a bit more experienced and only wants good for us.