What can ordinary people do in the world of encrypted digital currency?

Many people have asked me, "You speak so highly of digital currency, what can I do?"

This problem has troubled me for many years.

Finance is an industry that does not require much labor, and this is even more true for decentralized encrypted digital currencies. The demand for human resources in the cryptocurrency world is really too low.

A project or a company in the cryptocurrency world has such a large market value and makes so much money, but it only takes a few people. The most classic example is Uniswap, where only 11 people (data from the DeFi summer of 2021) created a market value of nearly 20 billion and a profit of more than 1 billion US dollars.

Just like Dong Yuhui is the truly most important person in Dongfang Selection, everyone else is secondary and can be replaced and fired at will.

In a cryptocurrency-related company, the truly valuable people may be only one or two people, and the other members have extremely little sense of value.

Especially for those financial products, the core thing that truly creates value is the decision-making in the minds of one or two people, and other colleagues are just supporting roles.

Low labor density often means disconnection from society.

Moreover, the network effects of various products and ecosystems in the cryptocurrency circle are very large. The top products in any category account for more than 50% or even 80% of the traffic, funds, users, etc.

Just like the exchange Binance has an absolute advantage, other exchanges feel like they are working for nothing. For example, Aave accounts for the vast majority of funds in the lending agreement.

This network effect makes it meaningless and extremely risky for most people who come in to work in the long tail if they don’t go to the head.

If you fail to become the leader, the risk of dying will be doubled.

I feel that the truly valuable jobs in this industry are:

1. Those who are engaged in marketing and can sell products and coins are absolutely awesome.

2. Those who work on products and development, especially protocol-level developers.

3. Research on cryptocurrency trading strategies.

It seems like the others are just supporting roles and have no sense of existence at all.

I have also advised relatives and friends to find jobs in the cryptocurrency industry, hoping that they can take advantage of this trend, but in the end it was proved that this industry does not need many people, and most of them cannot enter this industry.

I have also come into contact with some successful people who are rich, have social status, and are productive. They have the same problem: they don't know how to enter this industry.

It seems that apart from buying coins, other things are not very reliable. You can't just bring people in to do pyramid schemes, write code, and speculate in coins.

Let’s go back to the question at the beginning of the article. “You speak so highly of digital currency, so what can I do?”

After thinking about it for n years, I feel that a better answer is: use encrypted digital currency as money.

It's like if you ask "The dollar is so good, what can I do?"

In fact, it’s fine if you are a user of US dollars.

Cryptocurrency is money. What else do you want to do with money? Just use it.

This means that we now have an alternative to the RMB.

We all get paid in RMB at work, and we use RMB to do business with others or any small transactions. Now with encrypted digital currencies, you can definitely try to receive and pay in RMB.

If you don’t like volatile coins, the same goes for using stablecoins.

Download a digital currency wallet on your mobile phone and you can bind your business and currency.

There is no need to force it. If users or upstream and downstream parties are willing to use the currency, they can use it. If they are not willing, they can use RMB again. What's wrong with that? It's just another option.

If you have a team to manage, you can also try to use digital currency for performance rewards under the premise of legality and compliance, or even use Dao's model for management.

In fact, digital currency is money. You can use digital currency in the same way as money.

But you may ask, I am using RMB just fine, why should I use digital currency?

Because it is borderless, it allows you to cooperate with foreigners more easily.

Because it is anonymous and cannot be frozen.

Because freedom...