Vitalik: How to Get Rich (or Poor) Quick with Cryptocurrency

this is the article 404 in Vitalik’s blog, I put here to not be 404 anymore cos it’s so good:

How to Get Rich (or Poor) Quick with Cryptocurrency

Welcome to the new gold rush: cryptocurrencies. There are fortunes being made in a day, and some people are building businesses on top of them that are genuinely transforming the world. It’s exciting. But amidst all the hype, it’s hard to separate the signal from the noise, and the truth from the spin.

So how do you get rich (or poor) quick with cryptocurrency? By playing the short-term game. And how do you make a meaningful long-term contribution to the world? By playing the long-term game.

It’s important to recognize that these are two very different things, and the strategies for success in one are not necessarily the strategies for success in the other.

The Short-Term Game

The short-term game is all about making money. It’s about finding the next hot thing, investing in it, and selling it before everyone else does. It’s about chasing after quick gains, and it’s highly speculative.

To succeed in the short-term game, you need to be able to identify trends before they happen. You need to have a deep understanding of the market, and be able to anticipate changes before they occur. You need to be willing to take risks, and you need to be able to move quickly.

But above all, you need to be willing to play the game. And it is a game, with all the unpredictability and volatility that comes with it. Some people will win big, and some people will lose everything.

The Long-Term Game

The long-term game is all about creating value. It’s about building something that people want, and that makes a meaningful contribution to the world. It’s about focusing on the fundamentals, and building something that is sustainable over the long-term.

To succeed in the long-term game, you need to have a vision. You need to be able to see the big picture, and understand how your project fits into it. You need to be able to articulate that vision to others, and inspire them to join you in your mission.

But above all, you need to be committed to the cause. You need to be willing to put in the hard work, day in and day out, even when it feels like you’re not making progress. You need to be willing to weather the ups and downs, and stay focused on your long-term goals.

Conclusion

The reality is that most people will play the short-term game. And there’s nothing wrong with that. It’s a legitimate strategy, and it can be incredibly lucrative.

But if you want to make a meaningful contribution to the world, and build something that will last, then you need to play the long-term game. You need to be willing to take risks, and to make sacrifices, in order to achieve your goals.

It’s a difficult path, and it’s not for everyone. But for those who are willing to walk it, the rewards can be truly transformational.