Some people feel that success is measured by the price of a digital asset (when bitcoin goes to the moon).
Some people feel that the success is measured by the number of people who knows about a project.
Some feel that it is the number of users of a product.
What does it mean to go mainstream?
Is it the ability to be able to buy a coffee with your cryptocurrency?
Or is success measured by the maintaining the principles of the original reason Bitcoin was created?
I entered the cryptocurrency ecosystem in mid-2017 (yes, I considered that I was late at that time).
I didn’t understand this technology when I first found out about Bitcoin, I thought it was magic internet money and that it wasn’t that important, but like many people, I said what the heck let me try out this mining thing and other ways to earn some online.
I ended up putting little time into learning about it until later on that year.
Then something happened, I started seeing more and more ads and news talk and crypto YouTubers popping up on my feeds, the gaming channels I was subscribed to starting talking about Bitcoin.
Then in October, November, December, I was shocked when I saw that the few cents that I’ve mined and earned were now dollars. I said but wait, what is this thing really. I started doing research and got sucked into this world where I saw so much potential to make a difference for every human being on the planet.
I already knew how money worked and I didn’t like the current system, so I starting devoting more and more time to learn and understand and gain all the knowledge that I could find.
Cryptocurrency became an obsession and because I already had a technical background in coding video games, I wanted to know how cryptocurrency worked under the hood.
During that time seeing the markets rise to crazy numbers I remained steadfast in my research, I learned all of the basics of how the blockchain work, who created the first (Bitcoin), I tried to put myself in his/her/their shoes to understand why they created Bitcoin, while at the same time watching the markets closely.
I wasn’t one to run into something without understanding it first so I did not buy any cryptocurrency while I was learning about this FOMO mentality that was causing this crazy rise in prices.
I was never the gambling type or the type to follow suit.
I wasn’t born with a silver spoon in my mouth, nor was I ever the type to think of getting rich quick. I understood that it took more than just buying into something because everyone else was doing it to become rich, I knew I wasn’t going to increase my wealth in that way. I needed to learn and really know what this was so that it could envision its future and what I was going to do about my future in regards to this technology.
I then watched patiently while the market rose to all-time highs and then in the new year fall back down to the numbers that caught my attention approaching the 2017 bull run-up.
I started hearing all this negative talk about cryptocurrency how it was a Ponzi and a scam and then Bitconnect happened, but I did not get discouraged. I knew the technology was solid and that it would get better in the future so continued learning patiently. I had learned the coding language for Bitcoin and Litecoin and even wanted to launch my own blockchain but decided not to because of the infrastructure needed to secure and maintain the network. I also started to learn about smart contracts and tokenization and I was interested in the idea of creating something valuable on top of this wonderful technology that others have already been “successful” with.
I started learning the coding language Solidity and started checking out other projects that were created as tokens on top of the Ethereum blockchain. I got really comfortable with the knowledge that I gained over the months of research.
Now I was able to make wise decisions about what I would do with my money, I started investing in Bitcoin and Litecoin when the market had crashed back down to around $8K in February 2018 and have continued to dollar cost average every couple of weeks and most recently ever dip.
When I was learning about this technology I saw a future where this technology is every, I see us using it for everyday transactions and see it giving people in developing countries the ability to grow like all the already developed countries do, I see this technology giving us the ability to thrive. I see Bitcoin and cryptocurrency giving us all the opportunities that we deserve to make our lives better.
I see it giving us the ability to help others even if we don’t know them, even if they live on the other side of the planet. This technology opens all the doors. It is up to us to take the step through.
How would I measure success in the cryptocurrency ecosystem?
First of all, I would say that the principles must be kept as faithful as possible. For me, my measure of success is keeping the principles. Remaining open, free, decentralized, borderless, neutral, censorship-resistant, and public, is a great way to measure success. It doesn’t mean that we have to be the richest, most expensive coins or tokens, or the most dominant blockchain or crypto with the largest market capitalization or most mainstream. For me, its being able to keep the principles and being able to share this technology with everyone who needs it. This is how I measure success in this environment.
It is easy for a giant like Facebook to create a cryptocurrency, that is cheap, fast, centralized, not open, not censorship-resistant, not borderless, mainstream, and only if you have a facebook account you can participate. But keep in mind that they can shut you down when they want to and they can pump facebook coin to be number one on the market cap and give it all the computer power it needs and that could be measured as the most successful digital currency. But if it doesn’t have the principles that were defined for blockchains like Bitcoin’s, then that is not success. That is the same old system we’ve had forever, except now it’s digital and Mark Zuckerberg is now the ruler of the universe. For me, that is a failure.
We created BitUnits not to become the biggest or riches cryptocurrency token, we created it to spread the knowledge we’ve gained from this technology and to share this technology with those who need it the most.
If you already having banking and lots of money you won’t need BitUnits or this technology. But if you are living in Venezuela, or Zimbabwe or the Congo, or Haiti or Puerto Rico, you most likely need this technology. So we created BitUnits as a way to teach people about this wonderful technology and to share it with them.
Most people will never own a Bitcoin, but many people in need of this technology can now own a BitUnit token and learn from us what we have learned from the community.
We can not promise that BitUnits will go to the moon, but we can promise to help people understand this environment and technology so that it can better serve them. Money is a language we use to exchange value and the language of BitUnits’ is keeping the principles in place and sharing the technology with those who need it the most. Keeping this technology free for all to benefit from is critical because liberty is the most important measure of success in cryptocurrency.
If we can accomplish our mission of onboarding and teaching and sharing this technology while sticking to the principles this technology was based on, then we will be able to say we are a success.
Until then we have a lot of work to do.
Please help us share BitUnits and the knowledge we all have with those who need it.
Please visit our site, read our whitepaper and share the love.