THE CRYPT KEEPER MISSION IS TO BRING YOU EDUCATION & VALUATION METHODS IN BLOCKCHAIN & CRYPTOCURRENCY
The Beefy Golden Bitcoin Burger
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Why Research is so Important When Selecting from the Crypto Menu
The crypto space often feels like a modern day version of the Gold Rush. Fast forward 170 years, and you still have frenzied feedback loops of riches and hype that leave many investors vulnerable to being played the fool. Throughout all of history, it has been relatively easy to peddle the equivalent of fool’s gold to someone whose emotional investment outweighs the amount of solid research they’ve done.
So what does this mean, for crypto and blockchain?
In the movie “Gold”, Kenny Wells (played by Matthew McConaughey) states: “The guy who invented the hamburger was smart. But the guy who invented the cheeseburger . . . genius.” Within this analogy, Satoshi is undoubtedly the smart entity, who introduced the blockchain burger, in the form of Bitcoin. Perhaps Vitalik is our genius who added some smart contract cheddar. Now, we have a highly competitive market, where numerous chefs are trying to craft the best burger, using all kinds of different toppings and condiments (trying out various marketing strategies, programming languages, partnerships, missions, consensus protocols, etc.). This is why research is so important.
Also know, that many inventors who introduced disruptive technologies (like Bitcoin) were not the ones who weathered well, over time. Look at Sean Parker with Napster, Tom Anderson with Myspace, and Steve Case with AOL. They drastically changed the games of music, socializing, and mail, yet their companies didn’t thrive in the long run. They were eventually surpassed by companies that do a better job at playing by established rules, while innovating and evolving at a pace that keeps up with consumer demands.
With all this, I encourage you to dig deeper, beyond the superficial layers of hype, to determine what projects are truly going to be worth your investment.
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