Would you bet that 80% of cryptos don't make it through the next decade ?
Bitcoin price in 2009 was $0.0009
Bitcoin price in 2021 is $50,000
Bitcoin could have easily died within the first few years of its invention. Now we can say bitcoin could be here for good mainly because the Bitcoin ecosystem and the community have become resilient within the last decade.
The below picture is showing the historical snapshot for 5th January 2014 from coinmarketcap.com and you can clearly see fast forward 8 years, almost 80% of those didn't make it.
A few hundred dollar investments with $DOGE in 2014 would have made us financially rich now. I had to mention financially rich because there are many types of richness in life and everyone has their own definition of rich.
Apparently, the failure rate of startups was around 90% 20% of startups fail in the first year. 30% of startups fail in the second year. 50% of startups fail in the fifth year.
70% of startups fail in their 10th year.
One of the best comparisons to crypto investments is investing with startups.
For entrepreneurs and innovators, blockchain tokens are not only a new way of raising funds but also a new way of building ecosystems. By issuing and selling blockchain tokens, developers can co-opt complementors, early adopters, opinion leaders, and other stakeholders. Blockchain technology and tokens have given entrepreneurs new capabilities and have started to reshape entrepreneurship and innovation.
Thanks to crypto, Any ordinary person from any corner of the world can become an early seed-stage investor. However, most retail investors in crypto think all of their coins will moon in a short period of time.
10% Chance at 100x
Jeff Bezos says that if you have a 10% chance at 100x returns, you should always take it. You’re still going to fail 9/10 times, but the rewards are well worth it. Crypto offers the opportunity for asymmetric GAINS.
All new coins(Tokens) are only an experiment if it can Fail.
Don't get over-excited about your investments. Make sure you think very long terms like between 5 and 10 years. Like startups, the token you invested can fail and go to zero. Keep doing DYOR to minimise your risks and improve your financial EQ at all costs.
By the way, It's very healthy to treat your life as an experiment. The more experiments you make with your life the richer your life becomes.
Thank you for reading my messy writing.
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