We all know when Bitcoin started.
And we know how much it is worth today (a lot! despite the dip over these few days).
The Bitcoin/USD chart above shows BTC near its top so far in this log-based chart.
What were people thinking when they pour in some substantial amount of money into bitcoin mining or into buying an asset that has a limited history?
Unfortunately, I can only imagine because I was not there.
Betting on bitcoin then must have felt like a pretty risky investment. For one, information was not easily available. At least not as easy as today. There is a pretty good chance that it will go completely to zilch.
But fortunately, bitcoin is a novel idea that has a solid value proposition, and so it survived and multiplied in value thus far.
The idea of value proposition is what I want to stress in this post. To be exact, the kind of value proposition that will turn out to be enduring and could stand the test of time.
In bitcoin's case, its network's rock-solid immutability status gives rise to its 'store of value' USP. And that is a decent enough life goal for bitcoin. Good job, Bitcoin, you found your life goal!
Luckily for those who missed the bitcoin boat, there are plenty of blockchain projects these days for one to pick.
Many projects of brand new value propositions and use cases had been invented to take advantage of the various features afforded by blockchain technology. For example, defi or decentralized finance is a great value proposition that is shaking the financial world today simply by taking advantage of smart contracts in blockchains.
It does not end there. There will be more innovations and value propositions that can be expected. Some may be unimaginable.
Now, could the project you are hodling be poised to have its enduring value proposition or special life goals just like bitcoin?
Has it occurred to you that 2021 might be early days for your beloved project?
Let's say Hive is your beloved project.
Maybe your chart will like this below in 10 years, too?
If it has a rock-solid use case that is super enduring and irreplaceable.
Give it 10 years, maybe?
P/S: This is not financial advice. Do your own due diligence before investing.
Posted Using LeoFinance Beta
