Cryptocurrencies Don't Go Away
While Cryptocurrencies and blockchain tech are sweeping all over the industries, it's worth of your time to learn, analyze and understand the meaning of them in the future.
Understanding crypto is valuable for you as an individual and for your company, since sooner or even sooner, someone will disrupt your industry, and you are left wondering what happened.
You have two models to react to this
- Learn, understand and maybe benefit.
- Bury your head in the sand and hope it goes away.
I'd recommend the first model. I am personally not interested in cryptocurrencies in general, but more about the opportunities the blockchain technology can provide if it's used to create additional value for the society (or individuals living in it).
Bitcoin is a good example of a cryptocurrency that is somewhat similar to Euro or Dollar. It can be used as a medium of exchange or store value over time. Bitcoins high volatility and high fees have made it unsuitable for tasks mentioned above. But since fluctuates a lot it's good for gambling. Gambling is putting many peoples money in the same pot and sharing some of it back to participants based on either pure luck or some event that happens (like roulette or soccer game).
There are a plethora of other cryptocurrencies that are far more interesting than Bitcoin, like Ether, that's a backbone of Ethereum applications and smart contacts. (https://www.ethereum.org)
There are also hundreds of new Cryptocurrency projects that are aiming to change the world. Most will fail, and some will succeed. The main thing here is to keep your eyes open, learn and adapt.
Learn by doing the Cryptos
Putting your skin in the game makes it more interesting and compelling to follow. I decided to invest at least 3-5 new cryptocurrency -projects during 2018. My investments "or bets" are not high, about 100 - 200 USD/project and less than 500 USD in total. This will limit the loss but allows me to learn with some kind of bonus for success.
So far I have...
- learned how to buy and sell cryptocurrency.
- opened an Ether account in .
- opened a -account to store my crypto-money.
- opened A -account to transfer the coins (and sell them).
- joined a telegrams group like inbot.io and waiting for the airdrop of the new tokens to my account.
- been reading a bunch of pitch decks and white papers of the different projects.
Projects I'm currently looking for
- Inbot Ambassadeurs - https://www.inbot.io Project in the launch period, gathering publicity. I'll invest between 100 - 200 USD to this project at the launch date (THIS IS NOT A RECOMMENDATION FOR YOU TO DO THE SAME).
- Telegram - Not launched , but here are the news: https://www.investopedia.com/news/telegram-plans-blockchain-and-cryptocurrency-launch/
But there are projects to everyone like cryptocurrency for Adult movies and millions of other things to bet your money in.
How are the banks reacting?
You guessed it - close your eyes and hope the thing goes away. See the Nordea style of doing it. https://www.reuters.com/article/uk-nordea-bitcoin/banking-group-nordea-bans-bitcoin-trading-idUSKBN1FB1XZ
I don't even start asking how are they going to monitor this and how are the legal implications of the possible violation of the rule. Not to mention your civil rights to make "risky investments". I wonder if they ban lottery and lotto next.
My advice is to go out, learn and explore the new opportunities. Don't bury your head in the sand. is open to opportunities if you only see them and .