Loss & The Fear Factor: The Vastness Of The Crypto Space

almost 2 years ago

Life brings different opportunities and these opportunities become realistic when a person has the means (money) to bring them to fruition. This automatically means that money elongates the choices of people and validates their decisions.

However, because we cannot comfortably attach a certain "unlimitedness" to it, it becomes essential to see management and economics as important tools in managing money. The scarcity of money is inevitable, and sometimes it requires people to do something different to open up opportunities for themselves.

One of the reasons why it's difficult to make money is because of the fear of exploration. Because of the scarcity of resources, people fear losing their means in a bid to establish creative ways to make money for themselves. This automatically translates to the fact that the "unlimitedness" of money is why people fail to break the unconventional methodologies to making money.

Envisaging Monetary Limitation

For example, a person who has a certain amount of money will be looking to invest in businesses that are proven to be worthwhile. Now the "certain" there is an adjective that connotes limitation. When people feel the presence of limitation in their life, what they aim to do is to go for certainty or guarantee, in a bid to reduce the possibilities or likeliness of loss.

The downside to this is that the unwillingness of people to be creative with their money is that it creates flooded industries, this would in turn create excessive competition where people might become diabolic in a bid to beat off that competition to remain the best. For example, music is a flooded industry in a place like Nigeria.

Before the advent of YouTube, Audiomack and other internet-based platforms. Musicians relied on people traditionally buying their CDs and their payment for on-stage performances as probably the only ways to make money.

The Internet: Early Adoption

But the advent of the internet has increased the streams of income. Now, there was a time when the internet was uncharted territory. The first or early adopters in Nigeria were the ones who showed how lucrative it was to monetize music on the internet.

These people were the ones who broke boundaries in a quest to be differently creative in a flooded industry where we have more musicians but little resources to go around. Now, the internet cannot be flooded enough and this is because of the ubiquitousness of the audience.

Let's go back to how people are scared of exploring uncharted territory. A limitation isn't just about financial constraints, it taps into the mind to become a mental restriction. Originally, we as humans are very creative. However, the end of creativity is in the inability to fuel it.

The fear of failure is another thing caused by the limitation of resources. This means that to be creative, people need to feel safe in case they incur losses in a bid to be different from money-making.

Crypto: The Innumerable Choices

Let us dive a little into crypto. Investing in crypto seemingly brings innumerable choices, yet people are always stuck with following trends, hype, and hacks and this is because of the fear of loss. Let's not forget that crypto is a blockchain-based opportunity that was only made possible with the existence of the internet.

Originally the internet is aimed at diversity. Bringing different people together for the aim of information, communication, and socialization. This brings the need to create an industry where people can be business owners and clientele and have these roles easily switched.

This means that learning has become easier and loss aversion can be better implemented. What I am trying to say is that, in other to prevent loss, the internet is already a learning tool. But people still choose to go for hype, trend, and popularity. We're in the age of hacks, where many want to easily implement their ideas of others.

The Elasticity of The Learning Curve

One of the reasons why l love crypto is that no one has seen it all or done it all. The learning curve has no anchor and irrespective of the way it's readable through charts and cycles, it still has a way of beating the narrative or expectations.

Its capabilities are unlimited making the diverse ways to be involved with it innumerable. If crypto were predictable or stable, it'll attain adoption. I wouldn't use the word "flooded" because it feeds off the numbers to keep relevance.

So one of the reasons why crypto hasn't been massively adopted is its volatility which is its strength as well. Now I won't go into this. The main point here is that crypto is too vast for people to be dependent on cheat codes to make money.

This is to say that success is not relative. However we cannot underestimate the power of shilling in the crypto sphere, it influences people's investment choices, which should be partial and not in totality Remember, stay wild, stay daring.