Have you ever heard of cryptocurrency? Perhaps there are a few of you who may be familiar with what it is. I do believe for the far majority of people the answer would be what’s that?
My textbook reply would be a cryptocurrency (or crypto currency) is a medium of exchange using cryptography to secure the transactions and to control the creation of new units. Cryptocurrencies are a subset of alternative currencies, or specifically of digital currencies
In short, I may reply: You know, like a BitCoin.
The next question I would pose is: Now that you know what the world of cryptocurrency is and a general idea of how it works my next question may be: In the world of cryptocurrency, how do you fit in?
In my business career, I had the opportunity to very well at making attractive income on the internet. In particular, I have been successful in marketing, advertising sales, business development, eCommerce, technology, and online business-building including the building of large online organizations.
Prior to deciding if I am going to invest, market, brand, promote, or own something I spend a great deal of time researching it.
In addition I surround myself with like-minded individuals I refer to as either successful business associates or partners who have a great deal of knowledge and research on whatever it is we are going to promote.
My strongest desire is to promote something that is new and innovative that has a very strong chance to saturate the market in the future. In particular, I would like to control, brand, distribute first to market a product or service that is going to be a game-changer.
This would be something everyone in the future is going to desire to want, own, or possess.
I have little interest in promoting something that has already saturated the market. There is little opportunity for me to be first to market or capture market share of products or services
I do not desire to try to market something everyone already has or knows about. There is then no way I can then be first to market as in the mind of most successful entrepreneurs those who are first to the market who then capture the market wins.
Many entrepreneur minded individuals approach me to join them to promote items such as cell phone services, online advertising, health-related products, food, eCommerce, or online shopping. My simple reply to these entrepreneurs is simply I am not interested.
The reason I have zero interest to promote these items is the market is already saturated with big players that you are never going to be able to compete with. Those who were already first to market have captured the market share.
This brings me to the world of cryptocurrency and blockchain technology. Again if you were to approach the average individual and asked them: Have you heard of cryptocurrency the likely response would be: What’s that?
The obvious conclusion is if I were going to be first to market, brand, own, or possess what would it be? The answer is simple: blockchain technology and cryptocurrency.
You may ask then what is the difference between currency a.k.a. money and cryptocurrency? There are many layers of definition or explanation we could define the two primary differences in currency vs. cryptocurrency:
Fiat money or fiat currency is money whose value is not derived from any intrinsic value or guarantee that it can be converted into a valuable commodity (such as gold). Instead, it has value only by government order (fiat). Usually, the government declares the fiat currency (typically notes and coins from a central bank, such as the Federal Reserve System in the U.S.) to be legal tender, making it unlawful not to accept the fiat currency as a means of repayment for all debts, public and private
In regards to defining cryptocurrency I could discuss all of its aspects but the main point here cryptocurrency is not fiat but rather cryptocurrency known as a digital medium of exchange that functions similarly to traditional money, but has no physical equivalent and is only in digital form.
The first major cryptocurrency which started it all was Bitcoin in 2009 as open-source, and since then a lot of other alternative cryptocurrencies have become available thanks to the huge popularity that Bitcoin has managed to generate.
Cryptocurrencies are in fact a form of digital currency that uses the principles of cryptography to implement a distributed, decentralized, and secure economy where you can mine and trade them.
If you were to compare cryptocurrencies to fiat money, the most notable difference is in how no group or individual may influence significantly the production of money (in the case of crypt it is called mining), instead only a certain amount of cryptocurrency is produced by the entire cryptocurrency system collectively, at a rate which is bounded by a value both prior defined and publicly known.
Now that I have offered you a very commonly used textbook version of the differences in the two I pose the question in the world of cryptocurrency How do you fit in?
Your first question may be the same question I asked myself. Who are the main players in the cryptocurrency market? My answer would be to follow the money trail, find a place where you fit in, and capture as much cryptocurrency you can.
- Bitcoin Cash$271.91-1.13%
- Binance Coin$30.20-1.31%
A true statement is the far majority of everyday people own zero crypto-coins. Another true statement is If you were to take BitCoin as an example as a means to capture market share of cryptocurrency you are simply too late. The vast majority of the coins that we easily mined in BitCoin is gone.
In order to capture any appreciative market share of the remaining coins left to be mined, you would need to have a high degree of technology i.e. know-how, server space, great financial backing, and a large group of people with the technical skills needed to mine the coins.
The monthly cost of a sophisticated operation of this nature nearly cancels out the value of the BitCoin you are able to successfully mine.
The other way to capture the market share of BitCoins would be vast amounts of money to purchase them. Again this is simply way beyond the reach of any individual who is not already a multi-million-ere who has risk capital at their disposal. Simply put the market for share BitCoin is gone especially for the average person. This strategy is simply not going to happen for you.
Fortunately for the average person who now recognizes just how big the market is going to be and has gained an edge in deeply researching cryptocurrency and blockchain technology
It is however not too late for you to capture your share of the cryptocurrency market!
This especially holds true for you for anyone I refer to generically as John Q Citizen who either has never heard of cryptocurrency (crypto-currency) or has no idea how important it is to own cryptocurrency with a market share advantage.
If at this point you have at least taken the time to have read this publication there is some awareness on your part of either a general interest in the topic of interest as an aspiring entrepreneur who is asking the question: How do if fit in?
If the latter statement is correct then you are already a step or two steps ahead of who I refer to as John Q Citizen.
Just for the record, the deep research that I have taken has personally paid off. I have found a workaround to the whole cryptocurrency issue, which has given me an edge over most of the average public. It has allowed me to be first to market. For those who are first to the market who then acquire by mining large amounts of available cryptocurrency have then essentially captured a market share of available alternative crypto-coin options available.
In another publication on the matter, I have discussed who are some of the big household name entrepreneurs, financial entities, and institutions who have great awareness of the technology. In the publication, I have included their direct quotes and who are already taken steps by capturing and experimenting with the technology for future implementation to capture their market share.
In my related publication, I named who is creating strategies to gain great wealth and an advantage in the market. If you are conducting your own research this should be crystal clear
In the world of Cryptocurrency, how do you fit in? I can tell you that in general 95% of the world I refer to as John Q Public shares 5% of the world’s wealth. The rest of the 5% of the world (those entrepreneurs who had the awareness who took the time to research then took decisive action) who clearly took advantage of market share enjoy 95% of the world’s wealth.
To finalize I ask you: Where do you see yourself in the cryptocurrency market?
Are you part of the 95% who I refer to as John Q Citizen who spent the majority of their time on the internet socializing, playing games or heavily weighed in the latest local gossip. The same 95% who never took the time to research the matter. The 95% who will one day finally realize they missed out on enormous wealth potential?
Perhaps you will see yourself as one of the 5% who researched the matter and is ready to take the decisive action needed to implement a strategy.
I for one definitely have a cryptocurrency strategy in place I deployed, after deep research followed by immediate and decisive action to join the 5% group. Hopefully, you will take the time as well.