Blockchain & Cryptocurrency – Building Something Of Significant Value

This Is Where It’s At

So many people are quite happy to make a “small fortune” with Crypto playing the speculative game. However, the real winners are those who go on to build something of value. Look at Sam Bankman-Fried for example, he made a significant fortune by merely leveraging an arbitrage opportunity. If I remember correctly, he spotted a 10% variance between US exchanges and Asian exchanges. This was obviously some years back, as these “gaps in value” have since shrunk significantly.

Anyway, he was able to push $10 million through this “circle of trade” on a daily basis, and so was able to lock in a million dollars a day. I am not sure how long he was able to do this far, but even a single day would be extremely meaningful for most of us. Many of us would have simply stopped there, thinking that we had “made enough”. However, as you look at Sam’s “story”, you begin to see that this part of the journey is not often mentioned. In fact, it’s almost irrelevant, when compared to what he is currently doing with FTX and other acquisitions.

What many would have considered an arrival was only the commencement of Sam’s journey. Building and creating something of significant value is obviously something that is more important to some than others. However, let’s not fool ourselves, income and revenue are significantly higher, which is an incentive in and of itself. Both, FTX and Binance are great examples of how something of tremendous value can be created in a relatively short amount of time. I have mentioned previously, how CZ managed to reach the same “wealth ranking” as Warren Buffet in five years. Buffet, on the other hand, has required an entire life span, and a long one at that. This is the power of being early and building something of tremendous value.

Hive & Leofinance

We are seeing similar dedication coming out of the Hive ecosystem. Similar, yet on a smaller scale. That being said, who knows what the future holds, as HIVE has previously breached a billion-dollar market cap. Building value does require an extremely concentrated effort. Just because CZ and Sam managed to build empires in a few short years does not necessarily imply that it was easy. SBF is known to sleep on a bean bag by his desk, and generally only sleeps four hours per day. This is a “concentrated effort”. As I said, not everyone views this endeavor equally. Some are definitely not willing to travel the road that rewards the journey.

It is however very encouraging to see the Hive community applying a level of dedication that serves as an encouragement to “those watching”. Do you remember when ChainLink first began to garner attention as the pioneering oracle provider? Sergey was, for the most part, unaware of how LINK had appreciated in value. He and his team had their heads down, buried in building and development. They were not monitoring the price at all because they understood how this works. Create value and price follows, it’s that simple.

What To Look Out For

I am generally unconcerned by project statements, along with self-proclaimed greatness. Take me “to the barn”. I want to see the mess. I want to see the absolute “desperation” to get “things done”. An absolute passion to move along the path and put as much in place as possible. If I don’t see this, I am not moved. Project devs and team members who do not have a significant presence, cannot have a significant impact on the project. If then there is no impact from leadership, how can there be any impact from anywhere else? Remember, blockchain is just a technology. Effective individuals in legacy businesses can apply their dedication and principles to this industry and begin to shock many. Talent and understanding alone mean little if they are not accompanied by “action”. You cannot rely on knowledge and talent alone.

Relentless dedication and effort on the part of some reveal a deep understanding of what is at stake. These are generally your business-minded individuals with an entrepreneurial edge. These individuals tend to see the world and the opportunities which exist within it from a unique perspective. In the moment, they are often misunderstood. However, from a position of hindsight, they are seen as pioneers.

Final Thoughts

when you consider “crash and burn” stories such as LUNA, you can immediately see that the team is impoverished in regard to the qualities I have just mentioned. You can also see the self-proclaimed statements of greatness. Rather choose to investigate projects where dedication and commitment are the “order of the day”. This is at least how I view it. I have high hopes for a number of projects that are currently displaying these dynamics. I guess we push on, while we await the outcome!

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