Why I’m not investing in cryptocurrency right now.

Reason 1. Cryptocurrencies aren’t a viable means of exchange… and may never be.

A cryptocurrency is digital money such as bitcoin, ethereum, and litecoin. There are many such “alt-coins”.

It’s not a widespread “means of exchange” yet. In other words, it’s not really a currency.

Neither is it an alternative local currency (which many shops would accept in a local area, which can be good for the local economy and sense of community.)

Reason 2. I don’t want to be part of the problem — I don’t want to contribute to a bubble mentality.

An economic bubble is where there’s a lot of hype about a particular type of “investment”. One of the earliest known investment hypes was the tulip mania.

Reason 3. It goes against the Golden Rule. All ponzi schemes do.

If you do actually make money by speculating in cryptocurrencies, you are financially hurting someone else.

Reason 4. Right livelihood is what I wish to model for others.

Imagine a community of 1,000 people.

Reason 5. Bitcoin and other cryptocurrencies utilize a disproportionate amount of the earth’s resources, and are going to speed up global warming. I don’t want to contribute to this.

These digital currencies require an inordinate amount of computing energy, and it gets more ravenous everyday.

Reason 6. Our precious attention, time, and energy need to go to solving the world’s problems, not enriching the few.

You have a choice.

Let’s invest our valuable life energy towards truly helping and uplifting others in a way that is sustainable.

Let’s make money based on creating real value in the world, rather than speculation and gambling.

  • Building our real skills
  • Growing our meaningful network
  • Bringing real value to them

When you grow skills that are sustainably meaningful to your community, you will never starve. You’ll always have the gratitude and reciprocation from others, to sustain you and your family.

  • I should’ve invested…
  • I should’ve invested more!
  • I shouldn’t have invested…

 by the author.

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George Kao

George Kao

2.7K Followers

Authentic Business Coach & Author of 4 Books including "Authentic Content Marketing" and "Joyful Productivity" https://www.GeorgeKao.com