The beginning of the year has been rough for investors, and this has been reflected in the media, on social networks, and on online forums. Every medium has been rife with FUD — people squabbling over the future of cryptocurrency or arguing how this or that coin “sucks.” This is understandable, but with governments increasingly turning their attention to the crypto sphere, widespread adoption is looking more realistic by the day. The future is looking brighter.
You might not care what one writer thinks on the subject (and why should you care?), but I suggest we, as a community, endeavor to do what we can to shape the future of the crypto space in a way that suits those it was originally intended to serve. It’s time to dust ourselves off and make sure we have a say in what crypto adoption will mean. If we all agree that blockchain technology will change the world, we must contribute and usher in the right change, and there are many ways we can do this.
Remember how it all started
Satoshi Nakamoto published the white paper for Bitcoin in 2018, which described a peer-to-peer system of exchange made possible by an ultra-secure decentralized technology – the blockchain. Democratic money was now a possibility thanks to Bitcoin, and its underlying technology captured the imaginations of developers and enthusiasts who knew it was capable of more.
As the hype for Bitcoin grew, people began to invest. Why not? It was great fun, especially when altcoins were going from strength to strength, but eventually, it started to garner more attention as a means to get rich quick than for its revolutionary potential.
Invest in projects you like (and don’t put others down)
Investing in crypto is great fun as long as you invest wisely and never commit more resources than you can afford. When you participate in ICOs and airdrops or trade coins on the market, you support the crypto ecosystem and, by extension, the developers hoping to usher in the blockchain revolution.
What doesn’t help is unfairly berating projects or putting other people down for supporting different altcoins. Coins in your portfolio may have competitors, but competition is good for the industry, and, if competition intimidates you, then you clearly don’t have faith in the project in which you’ve invested. You may think some coins do “suck,” but not every project you don’t like is worthless or a scam. By all means, sing the praises of your favorite coins (ICO ad bans make this more important now than ever), but don’t add to the negativity.
If you can spend crypto, do.
The more people that use crypto, the more businesses will begin to respect it as a valid form of payment. It’s that simple. There are already “Bitcoin towns” in Europe where dozens of businesses accept crypto payments, but before we’ll all be able to do something simple like buy a coffee with crypto, people need to take the lead.
Discuss Blockchain technology with others
Do you know any people who would be interested in crypto? If the answer to that is “no” then let me rephrase the question — do you know anybody who would be interested in saving money on their car insurance, cheap education, freelancing, crowdfunding, charity, or helping to abolish modern-day slavery? These are different blockchain projects exploring all of these possibilities and more. Talk about these with others, and you’ll be surprised what you learn also. Educate, listen, learn. Together.
This technology is in its infancy. It’s a wild animal, and none of us can predict how it will evolve or at what rate. It is becoming a cliché, but it is not unlike the internet in the 90s — what a flop that was. It’s an exciting time to be a crypto enthusiast. If blockchain is even half as influential as the internet has been, in 10 years, you’ll be able to brag how you saw it coming. So for now, enjoy the ride, be part of the blockchain solution (yes, I went there), and not the problem.
Michael is an English and Creative writing graduate of Liverpool John Moore’s University, a former editor of several magazines, and a crypto-currency enthusiast. He is mostly interested in crypto-legislation and the potential of decentralized technology to change the world.