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Back in 2013, I spent a small amount of time setting up a desktop machine to do some bitcoin mining when it first came out. Mostly just to educate myself and understand the basic concepts of crypto and blockchain. I never got into serious mining and at the time of this post, I’ve only recently staked a VERY SMALL claim in crypto — again to understand the mechanics, trends, and opportunities that seem to be presenting themselves right now.
I have to admit that right here, right now, as I am typing this, it feels like 1997 again in the lead up to the crazy dot com boom/bust cycle that started in 1998 and continued through 2001. Everything so shiny, new, and largely unproven. Except the framework and underlying technology. Back then it was http. Not its blockchain. Exciting times for those in the know. My goal is to educate and get more people to be “in the know” and have a fair shot at participating in this crazy ride.
IMPORTANT DISCLAIMER: DO NOT TAKE ANY OF THIS AS INVESTMENT ADVICE. NO REALLY. I’M JUST AN OLD TECHIE FROM THE DOT COM BOOM/BUST ERA WHO NEVER MADE ANYTHING OFF IT AND NOW SEE A TINY WINDOW OF OPPORTUNITY OPENING UP. THIS COULD BE ON THE SAME SCALE AND MAGNITUDE AS WHAT HAPPENED IN THE STOCK MARKET BACK THEN. OR NOT BUT THIS IS ALSO RADICALLY DIFFERENT AND WE ARE IN UNCHARTED WATERS IN MANY MANY AREAS IN THE CRYPTO ECOSYSTEM AND BLOCKCHAIN. AS SUCH, I ASSUME NO RESPONSIBILITY FOR ANY ACTIONS TAKEN AS A RESULT OF READING THIS OR ANY FUTURE POSTS ON THIS TOPIC. MY IMAGINARY LAWYER TOLD ME TO PUT THIS IN ALL CAPS. SORRY.
Why now? Looking back at what happened over the holidays with Amazon and Walmart going head to head for your online holiday $ — both setting records for online sales — this is the new normal with global ecommerce. Watching the rise and fall and rise again of bitcoin in particular and crypto in general in late December and early January, Ied me to the conclusion that we are in the beginning of a global macroeconomic paradigm shift away from Wall Street and Big Banks to a decentralized “always open” global crypto exchange for the masses.
I don’t think the full implications and impact of this shift are really known or understood at this point. It’s still very much like the early days on the frontier in the wild west. Few rules and regulations and cheats and thieves at every turn.
Allow me to elaborate. If you’re already like this is way too TL:DR, this your time to eject.
TL:DR: The concept and use of blockchain and the rapidly growing crypto ecosystem is fundamentally changing how commerce is conducted and goods exchanged between individuals and businesses across the globe. The implications are just now coming to light and still not fully understood. This is both exciting and scary. Jump on for a messy ride or watch from the sidelines.
The reason I think this is BIG requires taking a step back and looking at past cycles of innovation and growth in tech/IT since the dawn of the modern PC, the growth of the Internet, and rise of the www. I break the past 30 years in tech innovation and growth as follows:
1990-2000 – unix client/server ftp http www
2001-2007 – platforms/frameworks – ecommerce, enterprise, blogs
2007-2017 – social, mobile
2018 – ? – crypto, AR/VR, IoT
While AR/VR and IoT are interesting, they have been a LONG time coming and taken even longer to gain adoption. While bitcoin and crypto have been around since 2009, the rate and pace of adoption and the demand
“to get in” is so high right now, I think crypto is poised to be even bigger than AR/VR and IoT combined.
The concept of building apps and services on top of blockchain is fueling a new wave of innovation the likes of which we’ve never seen. We are in uncharted waters and the ship has already set sail. Attempts to stop the growth of the global crypto ecosystem at this point by governments and institutions is moot. The crypto is already out of the bag., so to speak.
Either jump on now and buckle up for a messy roller coaster of a ride as the crypto wave begins to crest or just sit back and watch the bloodbath that is about to unfold. I’m betting that 97% of those looking to make quick $ will fail. Those who take time to learn and understand where this is all going might have a little better change. Those with giant pockets and $$$ to throw around will be the biggest winners. AND LOSERS.
With that out of the way, here’s what I’m going to focus on in my next series of blog posts.
1) Historical patterns, similarities, and differences with what happened in the rise (and fall) of the tech/IT industry from 1990-present. Basically expanding on what I started to dig into with the eras of tech growth above.
2) Crypto 101. Crypto for Dummies. How to get started. Risks, opportunities, things to do, things to avoid. CryptoBroker services offered — onboarding for the average Joe getting setup to securely participate in the global exchange of cryptocurrency.
3) Global Macroeconomic paradigm shift. On the quiet, yet ongoing (and rapidly increasing) redistribution of individual wealth from Wall Street/big banks to decentralized crypto-exchanges where its currently like the wild west with new unregulated exchanges that are global in scope and never close/shut. THIS IS THE END OF DAY TRADING. THIS IS JUST TRADING. 24/7/365.
4) Opportunity at hand – for tech companies, for developers, for individuals, for businesses, for organizations, and for non profits.
5) Futures – where’s it all going?
6) Why do I (why should you) care?
I’m addicted to my mobile phone. Instagram is my #1 time sink. Facebook is #2. I don’t like this.
I also don’t like what Facebook has done with their newsfeed algorithm. Recent changes to their Video Ads — specifically with them now playing ads before/during videos posted by friends — sent me over the top.
Image Source: https://goo.gl/images/4vdN3j
Facebook is The Matrix.
Every day, every minute, every second they are consuming all of humanity’s precious (meta) data.
Think about it.
Facebook is basically a giant living breathing Artificial Intelligence.
They can’t build pods, errr, I mean datacenters fast enough.
Think about THAT.
All your data are belong to us.
I saw an ad the other day that said they do 5 billion language translations a day. Sure that’s great and all, but when they pollute my feed with ads every 3rd post, and make it nearly impossible for me to watch a video, or have any degree of control over who/what/when I see it… I SAY NO!
I choose to unplug and not volunteer my precious (meta)data to the Facebook AI.
I uninstalled Facebook on all my devices, which on Verizon is actually impossible due to the agreements they have with FB, so you basically just have to go uninstall all the updates and then disable the app.
No more Facebook. My time. Reclaimed.
Ok. Now what?
Happy New Year.
m. 206 294 8205
PS – Sure, I’ll probably be back (addict), but I am going to give this a try. Can still find me on IG and Snap…for now.