My intrigue in cyrpto started simply as an investment opportunity. I met someone in 2019 that made a couple million dollars after buying Bitcoin in the early 2010s. Hmmmm, this made me want to explore the space further. Then, through Coinbase Earn, I began learning a little more about altcoins, and started to believe in some of the capabilities that cryptocurrencies have to improve upon issues I saw in the global banking system, specifically money transfer and foreign exchange.
The first crypto I invested in was Tezos. Proof-of-Stake made sense to me as a great alternative to Proof-of-Work, and “smart contracts” were something I didn’t understand but that I could buy into from what I was learning. I purchased a couple hundred dollars of Tezos on Coinbase (at around $1.50 per) and planned on holding it. However, I got into a small car accident a couple weeks later, and sold it all (at around $1.80). I was pleased at the small return, but then was a little FOMO-saddened as Tezos began climbing in the weeks that followed.
I distantly followed crypto markets over the next few months in early 2020. Then, in March, we had COVID-19 change everyone’s day-to-day. I had a lot more time on my hands, and the internet became my lockdown best friend.
After the markets tanked, I bought the dip with some stocks that I liked, and made some nice returns in late March and early April. I invest what I can afford to lose, so while I wasn’t making millions, I made a couple hundred bucks off of a $600 initial investment. This was exciting, so I started consuming more investment-related media, some of which kept talking about Bitcoin and crypto, so I looked back at the price of Tezos and noticed it was again at the $1.50-$1.80 range. That FOMO came back, so again I bought some.
This time, however, I began doing a little more due diligence, and began exploring the community behind the coin. I think this is the official start of my rabbit hole. I was learning about Bitcoin, cryptography, Libertarian ideals, and the internet-based social structures of different projects in the space. This is not to say I was agreeing with everything. I read The Bitcoin Standard, and while it was very informative, some of the political beliefs expressed by Saifedean Ammous made me (and still make me) a little nervous. His artist-bashing is just stupid, in my opinion. But I very much liked the idea of being more in control of my own wealth.
I started to become disenchanted with the Tezos community in part because of certain dramas, but also because they seemed to be spinning their tires and lacked a forward-looking vision for growth. I saw a comment on reddit in which someone referenced these same hesitations, and said they were much more bullish on ALGO.
So, I began researching Algorand. It was much more comforting to me to have a project based upon academic rigor, and to have a mind like Silvio Micali behind it. It wasn’t long into this mini Algo rabbit hole that I discovered Cardano. I watched the whiteboard video, observed the community, and researched the people behind the project. I then bought my first ADA.
That’s where I am now. I am still very much learning about the crypto-space, and the science behind it. But I love the Cardano approach to growth, and I want to be here to watch it. And now, encouraged by the community, I am trying to figure out how I can be part of that growth. It’s a fun problem to solve!