So… I recently got started, at quite possibly the worst time, in crypto currency mining land, but I must say that it has been a very entertaining and enlightening experience. I think that we are on the precipice of a very lucrative and important event as it pertains to our currency as we know it. I wasn’t old enough to get in on the .com boom in the late 90’s, but I’m here now for something equally important.
A New Frontier… In Currency?
I know most people that may come across this will see it and resonate with my sentiments, but there are a few people who will look at this and think of how insane it sounds. “What? How could any of this change how we do business day to day?” or “How in the hell are you going to make any money investing or mining crypto currency?” or even “This is all a huge scam and you’re dumb as shit for getting into it and trying to take everyone with you.”
I believe an explanation is in order. Maybe I can try to relay my understanding of crypto currencies to you. The long in the short of it is that crypto is the kickstarter or gofundme of blockchain technology. You invest your time and money into projects in which you find value in. Blockchain what? A running distributed ledger of transactions verified by the network done by miners, or privatized “mining”. I’m not going to go into all of it because it would take all damn day, but there’s a lot here.
Welcome to The Wild Wild West
I could go on for days about how awesome crypto currecy is, but I’ll keep it short. The world of crypto currency is EXTREMELY VOLATILE. Think the stock market moving at warp 10. This world is blink and you miss it and is nothing like what you’re used to seeing. You need to be prepared to make a long term investment and lose some time and money in the process. The good news is there are multiple ways to reduce your risk, but risk is still risk and this is some Hollywood movie level of RISKY. There are a lot of scams, hackers, and misinformation out there… I’m not trying to scare you, but let’s be honest here – when was the last time you used 2FA? A password generator? Offline data storage? Hell, even backed up your “My Documents” folder? I’ll be elaborating on this a ton more in the near future, but if you want in… you need to get your research data handling habits in order.