jakiro
Author: Nick Tomaino, founder of 1confirmation; Translation: 0xjs@Bitchain Vision
Here are my lessons learned from ten years of cryptocurrency investment:
Win original
Everything is open source and is easy to copy, but the first products will bring the biggest results (see Bitcoin, Ethereum).
The intersection of purists and tourists is the key to the app
If it is too pure, the product will remain niche.Too touristy, it is easy to come and go.Finding intersections is the way for real user growth at the application level (see coinbase).
Focus on what you like
Don’t chase shiny things just because others like them.Chasing popular narratives is the best way to lose money.
Define risks/rewards and take a long-term perspective
Tokens are publicly traded, but from a risk/reward and portfolio allocation perspective, they must be treated like private early-stage ventures (more than 20 times if valid, and 0 if invalid).You must be disciplined when entering and exiting.
Aligning with users is essential
There are many ways to extract value from people.You can make money in some way, but it may not make any sense.The most valuable crypto products are at the core aligned with users.
