Click the audio tab below to listen to the 47th episode of my weekly crypto podcast ‘Two Minute Crypto.’ These are intended to be short, single-topic ramblings on some aspect of the cryptosphere. Consider dropping a like and or a review on iTunes or Podbean if you enjoy the podcast. Comments and critiques welcome.
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Time Well Spent?
Welcome to Two Minute Crypto. It would take either a brave or old man to deny that blockchain is interesting. Regardless of whether you perceive possible investment value in any particular project – the in’s and out of blockchain are in and of themselves fascinating. Decentralized transactions, trustless commerce, open access to information, uncensorable records and on and on the cognitive appeal of blockchain goes. As a crypto enthusiast, you have almost certainly spent time exploring and reflecting upon these concepts as you first got to grips with the space. Doubtless, that was time well spent.
The question today though is - Are you still learning about crypto or has your interaction with blockchain slowly degenerated to chart gazing, blockfolio checking, telegram lurking and the consumption of hyperbolic Youtube nonsense?
When was the last time you read a long format article on the tech side of crypto? How about a piece with a contrarian perspective on the value proposition of blockchain? Or a deep dive into Austrian economics?
If you look back over the last week and your engagement with the crypto space – how much of that time involved deepening your knowledge of some aspect of blockchain, economics, trading or investment? Sure, checking in on the Telegram channel of a particular project can offer some insight from time to time but mostly it’s just hype, hope, trolling and admins doing what they are paid to do -spinning the ‘everything is awesome’ narrative.
If you are primarily an investor in crypto – frequent checks of your portfolio balance are simply draining both time and attention for no benefit whatsoever.
We may all be forgiven the very occasional hopium laced video about XYZ crypto to the moon but this should never comprise a significant portion of your engagement with this space. Aside from undermining your ability to make dispassionate decisions about crypto projects – ultimately it will lead to disillusionment with crypto as the ‘too good to be true narrative’ turns out to be just that.
Efficient time management is critical to compounding the financial benefits most of us hope to extract from our engagement with crypto. A focus on learning (broadly applied), the ruthless re-examination of blockchain assumptions and a continual effort to optimize our crypto routines are key to making the most of this crypto ‘moment’.
Thanks for listening.