Reading Time: 3 minutes
If you haven’t heard about Bitcoin or Blockchain by now, you probably don’t follow the news much. Lucky for you, John Hargrave knows everything we need to know about Blockchain technology and alternative currencies like Bitcoin in today’s episode. As quickly developing platforms, they have already changed the ways currency is traded and provided massive opportunities to people around the world.
Key Takeaways
⛓ Where the current state of understanding Blockchains development truly is,
📊 How much you should invest into Bitcoin and other blockchain currencies, and
👨🏽💻 How to get involved in blockchain with no technical knowledge.
⛓ Blockchain Today
The development of Blockchain technology is not dissimilar to the introduction of the internet in the 1980s. In 2009, it went live but was not yet capable of executing complex tasks. Similar to how the Internet was designed for communication, Blockchain was designed for decentralization which can also be described as a peer-to-peer network. No intermediary is present to cause transactional bottlenecks and fees. As a technology, blockchain is capable of decentralization, but not yet fully being leveraged in modern society to its full potential.
📊 Just a Slice
Volatility can be defined as “liability to change rapidly and unpredictably, especially for the worse,” and that’s exactly how alternative currencies currently behave. With volatility comes risk, and risk mitigation is an important part of investing. That’s why Hargrave thinks investing a small percentage of your portfolio into alt-coin currency is a good idea. “That’s why we tell investors to use common sense investing principles.” He continues, “Don’t invest your kid’s college fund into bitcoin, think about it as a very small slice of your portfolio.”
👨🏽💻 A Contributor Boom
A contributor boom is exactly what the blockchain revolution needs right now. Blockchain may appear intimidatingly complex from the outside, but the industry needs talent and experts of all concentrations to help fuel the growth of the platform. According to John, “If you’re not a developer there’s still so many ways to add value to this ecosystem. Whether you’re an artist, whether you’re in marketing, whether you’re in business, accounting, legal, all these things are needed in the blockchain space right now.”
📄 In Conclusion
Blockchain and alternative currencies have quickly risen to the spotlight just as the internet did during its conception. It’s a peer-to-peer platform that enables transactions to occur with no institution or intermediary. The value of alternative currencies such as Bitcoin and alt-coins tends to be volatile given their recent development and minimal regulations. The recency of blockchain and the aforementioned currencies leaves room for major industry growth both in size and value.
📽️ Watch the Full Video on Youtube
Quotes
“If anything, the blockchain revolution is more exciting and more fun. There’s more talent and innovation flowing into this than during the dot com revolution.”
John Hargrave
“What we need is to get everyone on board. To explain this as widely as possible to as many people as possible. Because that’s how we build this and make it great.”
John Hargrave
“There’s so much opportunity and so much need in the blockchain industry. We need things built, there’s so much value to be added. Every day I look and see ‘someone needs to do that, someone needs to organize that, and someone needs to build that.”
John Hargrave
“If you’re not a developer there are still so many ways to add value to this ecosystem. Whether you’re an artist, whether you’re in marketing, whether you’re in business, accounting, legal, all these things are needed in the blockchain space right now.”
John Hargrave
About the Guest
John Hargrave
Blockchain CEO, Author, and Investor
John Hargrave is a CEO, Author, and Blockchain Investor. As an early adopter of alternative currency and blockchain technology, John has developed a passion for public awareness and education surrounding its technological development. John is the author of several books including Blockchain for Everyone, Mind Hacking, and more. John is a founding board member of the Boston Blockchain Association.
Mentioned Links
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About Dick
Dick Polipnick is the Founder of Online Growth Systems, a media company that helps big-name brands turn their e-commerce businesses to profit and advises high-growth, venture-backed startups.
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