I Buy All the Crypto Hype and I’m Going to Make a Fortune
New crypto traders are inundated with information about Bitcoin with a heaping 2,000+ cryptocurrencies. And with money on the line, choosing a good gateway coin is a bit more nerve-racking than choosing one of the syrup flavors at the International House of Pancakes.
The stakes are high. They go well beyond dreams of a Lambo. If the historical charts on CoinMarketCap are any indication of how much the markets can grow, a successful trading strategy can spell the end of student loan debt or a hefty mortgage. It can mean money for a much needed medical procedure, the purchase of a condo, the repayment of a personal loan or helping someone less fortunate. With all the fiat that’s expected to pour into the crypto markets in 2018, the gains may be life-changing.
Enter the risk, the PR, the pump-and-dumps, the long string of developer project tweets. What is real and what is fiction? In the crypto space, it can be difficult to discern. Development and implementation can quickly get conflated with alpha phases or provocative concepts for our future Utopia. If all goes according to plan, the blockchain will kick bankers’ butts, crush middlemen, slay forgers and derail counterfeiting operatives. It will deliver truth, honesty, transparency and efficiency. It will realize The Vision.
The visionaries are stepping up their game with enough paradigm shifts to spawn an entire new galaxy where all of our needs are met and our wallets are flush with decentralized crypto cash.
Sonm, a universal supercomputer, will replace the cloud with the fog.
Future-proof Request Network will wipe out pen and ink accountants.
Modum, the logistics detective on the blockchain, will sniff out the delivery guy who pees on a package.
Matchpool will let us monetize each other the next time we go on a walk together.
But how much hype has gotten mixed into the cores, kernels and bytes?
When Iota revealed that its “partnership” with Microsoft was a bit of a stretch, it stripped some varnish from its fantastic high-volume performance. With so many projects in the conceptual-tentative-experimental phase, in search of prototypes and real-world use cases, investors can barely be called “early adopters”. They are secondary visionaries, futurists who know how to read a white paper or unravel the tech behind the Meetup lectures. They see what lies ahead and accept the hype as a necessary step. Launching these brilliant concepts out into the mainstream requires strong wings and long legs. They swallow the hype and all of its slipperiness: too much official tweeting about a nothing-burger event, too much whale pumping for tall green candlesticks, too many milestones on an insanely ambitious roadmap. Whatever. They understand that aggressive PR is good for the cause.
When my neighbor cautions me about cryptocurrency with the tale of Google Glass, my eyes start glazing over. Horizon State is sounding like an excellent investment. It’s the blockchain technology whose Decision Token is destined to put an end to hanging chads, Bush vs. Gore-style recounts, Diebold voting box tampering and the non-stop whipsawing of the American public with news of a compromised election because of secret meetings and emails that prove collusion and corruption.
After the Google Glass knock, I make a nice segue. I mention the laptop, the iPod and the smartphone. My neighbor brings up Bitcoin and its latest horrific crash. I think about blockchain innovators who are trying to engineer and actualize efficiency and transparency (and sometimes, just basic competency) across a slate of industries. If Patientory can spare me an hour or two on hold and the 10 hoops I’ll have to jump through to get access to my own medical records, I’m all in.
And who knows. Is Power Ledger going to partner with Tesla? Is Iota’s blueprint for Smart Mobility just around the corner? Will Monero snicker at the gymnastics of offshore accounts? Will Augur turn us all into guessing and gambling junkies? We’ll have to wait and see. And while we’re waiting, I’m investing in a wild and bright new future in the blockchain.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin or cryptocurrency. Your transfers and trades are at your own risk. Any losses you may incur are your responsibility. Please note that The Daily Hodl participates in affiliate marketing.