The risk of not investing
Another perspective is the risk of NOT being involved in crypto and the potential opportunity cost that it could bring to those that ignore it and the potential. - @newageinv
This is a comment I received on my post from last night on what is the worst that can happen from investing and it is again, something many people don't consider. @newageinv is definitely worth a follow for his investment outlooks and evaluations by the way.
When we look at the risk of investment, we look at the cost of losses and as humans, we fear loss. When we look at "missing out" on an investment we look at the cost of gains foregone which is considered a loss also. "I wish I had invested when Bitcoin was..." is a psychological loss. However, there is more to the risk of not investing than that in crypto as it is not just a vehicle to 'make money', it is a new technological movement.
Back in the day, there were many people who chose not to invest into learning new technologies and perhaps, there always is. In the 80s and 90s there were people who chose not to get involved with learning about computers, people who were late into the internet because like one of my brother's believed, "It is a passing fad that won't last".
What is the cost of not learning a new technology?
How many jobs in this world can one do without having some level of computer skill? No, one doesn't have to be @gtg in skill level but, there generally has to be a level of competence to at least enter data of some kind, even if working a register at a supermarket. When I was 13 I chose not to do an office skills class where in the first term, they learned to touch type. Well, some 3 million words on the blockchain later, perhaps I could have saved some time or added 6 million if I didn't only use 3 fingers and my nose to type.
But, this is the coming adoption process of crypto and blockchain tech too as regardless if one considers it a "good investment" or not, it is the way the technological movement is going and combined with IoT, automation, the increase in freelancing and short-term contracts as well as the continued tokenization of the world of information workflow, understanding what is going on at even a basic level is going to ease life processes.
The risk of not investing goes beyond the direct economics of it and pushes into employment opportunity, convenience, stress levels and overall quality of life across most points as global adoption increases. Most people have been forced to learn due to the societal adoption of technological advancements how to do things like bank and pay bills online, how to use cards, how to type, how to use a smartphone, how to set up a router, how to use cloud services and how to do most things that are of a technical nature - and they have PAID for the privilege without having much chance of any kind of ROI as it is mostly for consumer activity, not investor.
In the not so distant future, the world is going to be forced to learn and use the very things that we are already doing here because, they must in order to take part in the changing economy. You can argue this of course but if you are arguing it here on my blog, it means that you yourself have learned technologies that didn't exist a decade or two ago and, you didn't likely see most of it as an investment process at the time - it was a natural progression of your life.
Technological advancements happen regardless of whether everyone agrees to them or not and those who are able to adjust and adapt the earliest to the changing world are the ones that are going to be able to benefit the most. This again goes beyond the economy of it and into the opportunity of activity of living life and being suited for the environment. In many ways, the question should generally be reversed and instead of asking, "What are the risks of investing?", one can consider;
"What are the risks of not investing?"
In 20 years from now do you think blockchains and tokenization will still be a thing in society, will they still be relevant to the world in which you live?
Or, do you think it is a passing fad?
Taraz
[ a Steem original ]
Thanks for the mention! One of my enjoyments of the world of economics are the competing places for capital as they often have variable risks and returns. I like to look at this like Venture investing as I think that we may be seeing success in one out of ten projects; the fact of how we choose the right one is challenging but fund as well as it requires education and knowledge. Things we can gather from communities and we know how strong ours is here!
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The other benefit is that depending on how they are funded, one might not lose the principal in, just the op/cost of investing into another.
I remember my thinking around this, as a teenager.
There are nerds who live and breathe this stuff.
I'm not one of them. I can't compete with them for knowledge or passion.
There's not going to be any opportunity to build a good career competing against those guys.
Join the army instead.
I was terribly wrong on pretty much every point.
I was wrong too. I never thought I was smart enough to be able to learn even the basics so ended up ignoring most of the tech world for a very long time. Trying to make up for it in the next wave to hit :)
This time is very different. I'm the passionate one now. I've read everything I can get my hands on about blockchain since I discovered bitcoin in late 2012.
I find the entire concept of a permanent internet absolutely fascinating.
I also see that in time it is actually going to reduce the content volume as there will be less need for duplicates. I have some ideas about this already :)
!ENGAGE 50
Thanks, mate :)
I bought another 50 too. Trying out Steem-engine a bit. 400 ENGAGE now.
Hodl for the future because Asher is going to get hungry and need them back ;D
Here are your
ENGAGEtokens!To view or trade
ENGAGEgo to steem-engine.com.A beautifully written post here, see 12 years ago I choose not to invest in the rudimentary of computers and learning it, why? Because I was skeptical about how useful it'll be to me really, I think doubt is a big factor we need to deal with
Imagine if you hadn't ever learned. When it comes to crypto, you are a trailblazer.
Honestly I'd be really toast
It is only a question of risk and have fun discover new things.
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Risk is part of the fun isn't it? :D
You take the risk you might find something great at the end of the tunnel!
Did he mention any reasons why he believed that? It might have been difficult for a lot of people to predict the future pervasiveness of the Internet back in the eighties or early nineties because of the lack of applications having mass appeal but, considering the fundamentals of the Internet, that's a pretty amusing statement. All world-encompassing network of computer networks - what use could that ever be. :)
It was 1996, I had my first 'real' computer (I had an Amiga 500 before) and he didn't have an idea of what he was doing, even though he should have considering his background. He also said that digital cameras will never replace film and electric cars will never take off. Crypto is a scam.
He is now believes he is an internet guru, has owned digital cameras since the early 2000s (still no electric car but will eventually no doubt) but still has no idea about crypto. He is short-sighted and,has an extremely selective memory.
Sounds like doesn’t have much of a novelty-seeking mentality like most people.
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He is someone who wants status so that means buying stuff people already know.
Oh, I will also add that mirrorless cameras will never be good enough for him, when I bought my EM-1 in 2015. Guess who has a mirrorless :D
There is always risk invloved in investing. Nobody tends to know the future or how the investment will work out well. We just need to follow my heart. But i am sure, in the next 20 years to come, blockchain will still be very much alive and i will be glad i invest in it
No one knows anything for certain, even the things that seem very absolute.
its alwasy a risk with doing nothing♡ 🐲ℒℴve 🐉♡
Taking a risk, I think that’s how you grow.... We wouldnet even have crypto to start with ;If someone hadent taken that chance
Ok that was my 2 cents any way LOL Great and intresting post :D!!
Chinese proverb
We wouldn't have much in this world if people didn't take chances. It is nice to be part of the early stages for me :)
Great proverb btw.
Invest in what you know. If you’re on Steem, actively looking into crypto you can likely spot a good crypto. Don’t fomo into something or go in hoping for 100x gains but find technologies, fields, values, etc. that you believe in and invest. Also never go all in whether it’s cryptocurrency, stock, fiat or real estate.
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Depends on the size? :D
I see where you’re coming from but I’d still argue it’s not the most fiscally responsible thing to do. That said a crypto or WallStreetBet style YOLO is tempting to say the least 😂
Everyone makes their own decisions when it comes to where they put their money but, how many chose to get a card for their bank account? As far as Finland goes, no company pays in cash anymore - it is a forced learning and it is not the only example.
I remember times when I thought the Internet was not a big thing. When my elders convinced me to go for learning English - it was such a big thing... I was below 7th grade so I couldn't plan any better.
Funny thing is, I was already in University when I realized you needed a couple of years in University to realize what you need and what to apply for. Totally unprepared in school, not for that, I mean.
It is hard to predict the needs of future generations and even harder for parents to predict tech requirements for their kids. The best thing is to raise curious, talented and diligent children who will find out for themselves. If I could go back, I would have done something else at Uni.
I think I was curious before high school. Then I lost my curiosity for about 15 years to only find it now. Now I want more time to learn, that's all ;)
Not investing is just staying passive. Which is not considered risky although it has its own risks. But people are generally not afraid to stay passive. And that harms them. Us. Often enough.
This is what got me so into Steem. I am essentially earning to learn and the more one learns, the more one earns-
People worry about serial killers murdering them while they eat fast food, smoke, and drink to excess. They don't understand probabilities.
All my offline friends know me as the weird online guy who now has enter crypto world. However, only very few has taken a chance to try it themselves. And probably nobody has stuck with it for longer than a week. People in my circle are not risk-takers. That's why I find them very boring to be around.
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Out of curiosity, have you always been a risk taker or was there a point you shifted course?
Need to think about this. I'll get back to you.
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