Crypto, The Metaverse & The Business Owner.
***Part of the 'Beat The System' -Mini Series***
ONE ON ON COACHING CALL - YOUR ONLINE BUSINESS
The next five years will see a massive technology explosion that will make the last two decades look like kindergarten. The 5G roll-out, virtual reality, and the dawning Metaverse will impact everyday life and open up many new avenues for, not only online gamers, but for corporate slaves as well. This quantum leap in technology will enable tech-savvy business owners to jump on the turbo-digital super train. Whether you are a consumer or an entrepreneur, it is time to reevaluate your strategy and get accustomed to the new marketplace.
Old school, traditional employment structures as well as brick-and-mortar businesses are already something of the past. Adapt or die, as the saying goes. The challenge is this; if you want to be part of the system in the future, you will have to be 'plugged in'. If not, you will become a 'non-Citizen' living as an outcast at the edge of society. Maybe with a doomsday-prepper mindset, you might pull it off, but will it be worth it?
FOMO is a massive monster that will pounce on you at the most unexpected times! He will embarrass, smooth-talk, scare and make you feel insecure all in one go. Deep inside we all want to know what the future looks like, we are curious by nature. However, it is also enough of a scary thought to force sleepless nights on people suffering from tech and chronophobia. The latter meaning the fear of the future and whether the individual (accustomed to old-school ways) will be able to cope with a fast-paced techno-tsunami.
From an entrepreneurial perspective, let's look at the future business world:
What is the Metaverse?
The next level of the internet on steroids, the metaverse is the next logical step that will mold our so-called 'plugged-in' worlds.
An amazing shared virtual space that continues to exist whether we are logged in or not. You cannot pause this adventure, it's a live game/reality.
The different versions of metaverse gaming worlds will most probably melt together and become, 'the virtual world. One internet – one metaverse. One dark web – one dark metaverse…. The is the iPhone moment that will shape our lives indefinitely within the next five years.
Yes, currently there are a few variations of the metaverse, but imagine the merging of them all. The @ sign changed internal company messaging to global messaging via the worldwide adoption of email so, something similar will merge the virtual reality worlds of standalone gaming platforms into a bigger playing field. Keeping in mind that it won't be just for gaming, as everything will be plugged into it.
With your, not so futuristic, VR headset you will be able to step into the suit of your digital avatar and 'walk' into the local shop. While browsing through the fresh produce aisle you could have conversations with your fellow shoppers and thank the cashier for her friendly smile. 20 Minutes later the 'real life' delivery dude will knock on your door and hand over the items you purchased in the Metaverse. The question is, as time goes on, will you be able to clearly know the difference between the worlds or will they become one? Call it a mirror world or the AR Cloud, this is the next big thing since sliced bread.
Scary or not, the metaverse will unleash amazing creativity and opportunity to anyone invested in it. Alternate, digital realities will be a place where people work, play, and socialize. It will push our minds to think differently about how we validate and verify things. This is an absolute freaking crazy moment where humanity is embracing new technology and it's super exciting.
The 'hype' of so-called NFT's explained; Non-Fungible Tokens connected to a piece of virtual art. Meaning, u cannot replace it, it's unique. Get it? Mass-produced clothing, toothbrushes, or ketchup bottles are fungible, they are interchangeable. The Mona Lisa is non-fungible and an NFT is, well, non-fungible.
You can buy real estate in The Metaverse; Yes, it's true. In 'Decentraland' you can buy digital versions of real-life real estate. You will only own the digital version, but do you see where this will go in the future? Their ICO (initial public offering), MANA, sold more than $24M in less than a minute. The point is, cryptocurrencies and the Metaverse seems to have been made for each other. As we will see these VR worlds blossom in front of our eyes, we will see the adoption of decentralized finance (DEFI) displaying its true colors.
'The Metaverse' is coming, it's real and you will need to be part of it or you will become a non-citizen in the future. The fact that one of the biggest gaming platforms, 'Decentraland', a 3D virtual reality platform that is cemented on the Ethereum Blockchain, brings me to my next point; The future of Blockchain Technology and Crypto Currency, which on the surface seems to be married to 'The Metaverse.'
Bitcoin – Past /Present/Future
The moment society can relax into the abundance of food, shelter, warmth, and love, (their basic needs), they then start to create value in things that have no inherent value. Similar to FIAT currency, if enough people agree that a certain physical object has value, then apparently it does. Meaning that, within the digital space, if everyone agrees that a 2 second Gif or a ten-second clip from a basketball game has value, then apparently it does. The weird and wonderful world of NFT's (Non-Fungible Tokens)
Bitcoin, however, is not just weird and wonderful, but it has seemed to have stood the test of time. Whether you love or hate the shiny digital gold or any of its Crypto-gang members, there is no escaping it in the future. If, by any chance, you have been living under a rock since 2008, let's take a quick mini crash course on this topic.
What is Bitcoin according to W/pedia: 'Bitcoin is a consensus network that enables a new payment system that is completely digital money. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. From a user perspective, Bitcoin is pretty much like cash for the Internet.'
What is the blockchain? According to W/pedia: Blockchain is a public digital ledger of transactions that records information in a way that makes it difficult to hack or alter. Each transaction is independently verified by peer-to-peer computer networks, time-stamped, and added to a growing chain of data. Once recorded, the data cannot be altered.
The Bitcoin white paper appeared in 2008.
Initial Value in 2010: 1 BTC = $0.50
Value in Dec 2017: 1BTC = $18.000
Value in Jan 2021: 1 BTC = $34.800
Value in March 2021 1 BTC =$60.021
Value on 3rd October 2021 1 BTC = $47 892.30
There are numerous predictions that Bitcoin will continue to climb to all times highs within the next few years. According to the website Prime XBT our favorite digital gold will climb year after year and boost investor confidence.
Year High Low
2021 $140,000 $17,000
2022 $140,000 $42,000
2023. $100,000 $63,000
2024-2025+ $500,000 $275,000
This was said about the early stages of the internet:
"I have no desire to be part of the internet, I am already so inundated with information, it's enough" – TV host 1994
"I'm afraid that if I would subscribe to the internet, I would get hooked and not spend time with my family" TV host; The Today Show. Early 90's
This is where the internet is today:
Fact: Every aspect of our lives has been touched by the internet.
Fact: Our smartphones are basically 'extensions' of ourselves.
This was said about the early stages of Bitcoin:
"If you are stupid enough to buy bitcoin, you'll pay the price one day" – Jamie Dimon (JP Morgan Chase 2017)
Bitcoin is too volatile.
Bitcoin has no intrinsic value.
Bitcoin is used by criminals.
This is where Bitcoin is today:
Fact: Widespread adoption and cemented into the everyday financial future.
Fact: Famous banking platforms such as Goldman Sachs and the National Bank Of Canada are now accepting Bitcoin.
Fact: The opening of private crypto wallets has skyrocketed in the last two years.
For me, the light bulb moment arrived in my inbox via a bill from my accountant. Although I was shocked at the fee he was charging me, his email did put a big smile on my face. At the bottom of his bill, there was a little note that said: 'You are now able to pay your account with Bitcoin – Please copy and paste our wallet address into yours'.
The adoption of 'crypto payments' for your accounts will become a normal thing very soon and some people have already adjusted their entire financial structure to a dominant cryptocurrency portfolio.
Crypto Security
Yes, some criminals have indeed adopted the crypto-craze to enhance their money laundering schemes and the many crypto-scams have left some investors with empty wallets. This, however, does not mean that bitcoin is one big scam. The early stages just exposed some cracks in the armor that were taken advantage of by the digital mafia.
Let's think about cash and the amount of money laundering activities that happen with cash. Does that make cash bad and should we label cash as a scam? No, it is what people do with the cash that makes the transaction fraudulent.
So, once you have managed to get your hands on Bitcoin or any other cryptocurrency, take the time to research the different types of 'storage' options you have to protect your assets. There is so much more to blockchain technology than just Bitcoin and crypto scams. It is definitely worth your while to educate yourself and start a small investment portfolio.
I have taken a few crypto wallets and exchanges for a test drive over the last two years.
Today my platform of choice is REVIX.
A registered and well-managed crypto platform where you can buy, store and trade major cryptocurrencies – and from 2022 you can invest in robotics, Ai, and electric cars via shares on the same app. If you live in the UK or Southern Africa, REVIX should be at the top of your list of crypto platforms to explore. They have a great novice 'Learning Portal' that will teach you the basics of crypto investments in a clear and concise way. https://bit.ly/Revix-Crypto
The successful, futuristic, business owner.
Don't be fearful, study your enemy and make him your friend. Learn his ways and identify his weak spots.
Business owners with an eye on the future should:
- Expand their customer's payment options to include Bitcoin.
- Open their crypto wallets, start saving responsible amounts of digital gold, and expand their portfolios.
- Explore the concept of The Metaverse and research opportunities to be one of the first businesses to open up 'shops' within this futuristic world.
- Not be scared of fast-paced technology advancements, but embrace it and use it to their advantage.
Conclusion:
It's decision time. Prepare yourself to be 'plugged in' and ride the wave of the digital super-highway or grab another can of baked beans and run for the woods. The choice is yours. I assume that you would like to be a smart 'prepper' and prepare for both worlds – because, yes that's what I am doing. Be clever and prepare for 'The Metaverse', by taking advantage of its future business opportunities, but also stacking up some extra gas, baked beans, and solar panels for unforeseen scenarios.
My friends, please get out of debt. If you have a debt problem then check out my video on the Debt Snowball Payment plan.
If you want to Outsmart Your Bank then check out this link on 4 tips to pull the wool over the bank's eyes and then you get to be the wolf in sheep's clothing.
Maybe it has been in the back of your mind to seek alternative employment or start an entrepreneurial adventure. If you do, be sure to check out this video where we discuss the so-called Great Resignation.
Power To The People!
Do You Have Green Fingers? Love Gardening?
