We live in tumultuous times. Well-known crypto-bulls are sounding the alarms
on crazy market valuations and over-speculation of products that have no product
. And on the flipside, Jamie Dimon
is sounding more contrite lately. The Wild Things are dancing in the moonlight and there’s a hint of danger
in the air. Are we going to get burned??
This newsletter is going to be short because I’ve got a pretty full schedule lately, but I want to put some thoughts in your head about the wilderness, because assuredly that’s where we are, despite the fact that we’re nine years
into the most audacious financial experiment since double entry accounting
was invented. And nearly everyone missed it
The wilderness is not just a place of unknown dangers, though it’s that. It’s also not just a place where one simply goes to plant a flag, though throughout time humans have built amazing and horrendous things in the pioneer spirit. Progress is never single-sided.
The wilderness is a place of dreams and of imagination, and it is where we must go if we’re to make anything of cryptocurrency and its attendant possibilities. We must be clear about what cryptocurrency is and isn’t, and it is a hard truth.
Nothing has any inherent value except the value we put into it through imagination and hard work.
This includes everything from the dollars in your bank account to the cryptocurrency you just purchased on an exchange.
If you are waiting for your ship to come in because you dropped $2,000 on Bitcoin back in March 2017, you are likely to be waiting a long time and will wind up disappointed. Bitcoin is not the final destination
, nor is it the journey itself. Bitcoin is only the beginning, like a child’s map of her backyard.
Likewise, cryptocurrency–the vast ecosystem of altcoins and shitcoins and shill projects and get-rich-quick schemes masquerading as whitepapers
–is not the end product. Cryptocurrency is the vehicle that will get us there. But it will only happen if we keep the car filled with gas and we keep our heading straight and true and we observe the sides of the road as we pass, keeping our bearings and watching for the signs of where we need to go.
Now, more than ever, we need visionaries and idea-people to guide us into the wilderness. You could be one. Where do you see cryptocurrency taking us? Where do you want to go?
Please let me know your thoughts on this newsletter, or the questions I’ve posed today. I want to hear from you.