It is Wednesday, my Links: 01/24/18
Feel like I needed to share this IG post because you either know someone this image applies to, or you have enough self awareness to admit that your friends would think of you if they saw this image. Cryptobugs must be coming out of the woodwork today because prices are back on the upswing. Maybe we’ve seen the bottom of this rough January, or maybe it’s another bounce before continuing the way down, but either way it’s nice to have a day in the green to remind newcomers to crypto trading, and those who have been at it for a couple of months (you’re in the same boat anyway) about the nature of speculative crypto investing amid an insane bull market — and how that relates to your portfolio.
ICO’s are an alternative way for early stage companies to raise capital without relying on traditional VC’s. While yes, this opens the door for scammers, it does provide a utility to entrepreneurs who can now raise money for their venture, provide value to less financially powerful investors, and most importantly focus on their product or service full-time instead of worrying about putting on the best song and dance for professional VC’s. That said, the VC is now you: the crypto buyer/trader/ICO participator. And guess what — venture capital has traditionally been a game for the financially savvy and elite for two main reasons: It’s extremely risky and super fucking hard. But now that venture capital is democratized, you have to not only be as smart and savvy, as an investor, but also adopt strategies that make sense for a VC but not necessarily for a retail investor, as you are probably used to.
