Why Cryptocurrency Experts Are Not Entrepreneurs.
An investment is any endeavor that confidently command return on investment – ROI. I'd like to think, there are several investment opportunities in the world today. Real Estate for instance. In the light of technological advancement, investment is different from what we are used to. Cryptocurrency is a good example. Talking about investments, people invest money. We can also invest time. Either way, the concept is the same. There should be a form of consciously putting-in for a reciprocal form of return, which is mostly inform of principle plus interest.
The internet has brought even more options to investment portfolios. Cryptocurrency - a decentralized digital asset designed to work as a medium of exchange or at least, that’s the basic understanding of it. Technologically, it is as expected. The conversion of everything physical to virtual space.
Crypto-wise, the biggest of this, is Bitcoin. A crypto that has created great return in short space of time. Today everybody wants a slice of the cake. It has improved global transaction payment options but some government criticize it for lack of control and transparency. Some for their self interest and selfish desire to hold unto powerful control of everything money. As expected, the United States government will not be happy with this but they also lead the battle in the fight for civil liberty so, they or anyone else for that matter, seem not to be able to do anything to stop this. It is called decentralization of payment for a reason. LOL!
Though, I think working with government across the world will give it more validation and fluidity. That's a convo for another time.
Why is this important?
Several crypto experts reach out to me to join the band wagon of investors in this newly found asset. I give flimsy excuses and just observe. For me it is too risky. Some will say, the higher the risk, the higher the potential of reward. True but we have different risk tolerance level and I don’t intend to go beyond my limit on this one.
Besides, it looks like a get rich scheme to me. Put in money and expect return overtime without lifting a finger. Leaving the fate of my investment to market events that I have absolutely no control over. Naaa, that’s not my kind of entrepreneurship. That does not make it less an investment though.
I like to be in control of my investments. I like to strategize and see returns as a result of my effort. I don’t want to pray some body distant away buys or sell to guarantee my income. I like to influence the market and customer behaviors/actions with my value. I don’t want to sit down and pray that somebody in Tokyo buys or sells or make policies that increase my chances of revenue. it’s an industry too loose and without control, too volatile for my value-oriented mindset.
I want to do something other than studying the market trends. I’d like to know my beans. I am an entrepreneur and by the true definition of it. Entrepreneur are characterized by 3 things. (1). They create & innovate (2). They take risk (3). Identity a problem-solution relationship (Create Value). Crypto gurus do not fulfil all three. Except maybe the owner of bitcoin or Ethereum or Dogecoin. Every other person is an investor, even almighty Elon Musk.
For us entrepreneurs, money is an outcome not the motivation.