The Early Bird Advantage: Why You Shouldn't Take Cryptocurrencies For Granted
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The Merriam-Webster dictionary of the English language describes an "early bird" as one that arrives early and especially before possible competitors. It further traces the etymology of the word to a popular English proverb of the 20th century which states that, the early bird eats the worm.
In a nutshell, being an early bird means that you enjoy great advantage and privileges ahead of others - the latecomers. This is exactly the advantage that cryptocurrencies provide to adopters at this formative stage. Therefore, it shouldn't be taken for granted.
History has shown that those who sit on top of the pyramid of success were not actually the cleverest of men but those who took up the challenge of breaking new grounds. In this regard, Jeff Bezoes provides a perfect example.
Today, Jeff is the richest man on the planet not because he holds a PhD in Finance or Economics but because he was among the few who caught the disruptiveness of the internet and built a business, Amazon, around it.
The same thing could be said of Mark Zuckerberg who, although stealing the ideas of the Winklevoss twins, went ahead to launch the most successful social network site in history. Today, Mark is one of the richest men on the planet.
The common factor between Jeff and Mark is that both guys leveraged on the power of the internet at a time when many were skeptical about its potentials and success. They were the early birds of the internet age and it paid off handsomely.
The story is different today. The blockchain is shaping up to be the next internet. And the evolution is starting with money in the form of cryptocurrencies. Unfortunately, many are still very skeptical and resistant to the reality that the reign of the paper money is collapsing.
The available statistics shows that far less than 1% of the world's population have had reasons to use Bitcoin under whatever circumstances. Similarly, less than 0.5% of the world's population own crypto wallets.
As with most technological innovations before they took the whole world by storm, it is not surprising that many are still very skeptical about the future of cryptocurrencies. However, the early bird advantage will come into play again and should not be taken for granted by those who have already caught the cryptocurrency vision at this stage.
Already, the early bird advantage has played out in several crypto projects. There were those who bought Bitcoin at $2 and sold for over $10,000 per coin. Even STEEM, we have had those who came in here early enough, earned thossands of coins, and slammed the door on the faces of the latecomers.
But the beautiful thing is that the road to a mainstream crypto adoption is still very long with rooms of opportunities. What we have seen so far is just a tip of the iceberg for those who will be patient enough to witness what is about to unfold.
You could have come to cryptos for reasons best known to you. You may or may not have hit the goldmine yet but, if anything, do not take for granted this early bird advantage. It is too early to say what project will succeed or fail but the opportunities provided by cryptocurrencies are boundless. Be that early bird which eat the worms of wealth on the altar of cryptocurrencies.
I am @gandhibaba, the young man who goes about carrying his magical pen, not his gun, in his pockets.
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Gif courtesy of @artzanolino
What good data. Here in Venezuela we have a saying: "He who gets up early is helped by God" or another "He who gets up early collects clear water".
I am a person who got up early from my time as a primary student, then as a worker, now as a mother.
I take advantage of getting up early because the internet at that time is like faster sometimes, I publish my post, I check my wallet, I answer messages.
Then my mother's duties: prepare breakfast to later accompany them to their schools.
And I get up early to see if there is water and to grab because we have a very big water shortage crisis.
So we have to get up early to gain time, and this always catches up with us.
Hi @zhanavic69
What about those who go sleep very late, or do not sleep at all and are awake before "early birds"? :)
Yours,
Piotr
Well, he'll be suffering from insomnia, it's not normal, but it happened to me.
@gandhibaba, Here we can see one additional point and that is for example, no one holds any land, at first human Tribes saw empty land and they observed and analysed and they built their empires. Same way Cryptocurrency is new space and who knows today's newbies can become Legends in Cryptocurrency Space. Stay blessed.
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Thanks for your fine comments @chireerocks. The future seems bright for the few who can leverage on the power of cryptos and the blockchain technology. Thanks for stopping by.
Welcome and let's spread the word. Slowly and gradually people are understanding how empowering this space is. Have a wonderful time ahead.
Taking risk is usually not easy at all but if the risk is channeled towards the right direction, then one can become certain of the achievement of greatness.
Thanks for sharing @gandhibaba, it was really insightful.
Thanks for reading through, Tobi. I am glad that you find this post insightful. I wish you a full STEEM ahead.
Dear @gandhibaba
Wouldn't you consider being 2nd a better solution? Especially in long term? Early birds are usually making tons of costly mistakes and eventually they are almost always loosing against those who go 2nd.
Myspace lost to facebook, yahoo lost to google. IBM kind of lost to Apple.
Personally I think that being early bird must be very exciting, however financially it's usually not the most efficient.
Also please allow me to ask you personal question: do you consider yourself early bird / early adopter within blockchain technology? I think that only those who joined before 2007 could be called that way. I wonder what's your view.
Good read :)
Yours
Piotr
Thanks for the fresh perspectives here, especially your citation of the case of Myspace and Yahoo. Early bird doesn't necessarily mean the first person. It could mean second and third and even the 1000th. What makes a person an early bird is a matter of ratio. With only less than 0.5% of the world's population using cryptos, we are early birds being on Steem at this stage. That should answer your question. You and I are still early birds when ratios come into the equation. Cheers! And thanks for stopping by.
This is why I believe in the "biggest wealth transfer in history narrative". Thanks for this article, good work.
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