Crypto market in general seems to be heading to a very different path compared to the past. Crypto market will no longer go through 80% crash nor will Bitcoin go through a parabolic growth.
My instinct tells me, Bitcoin’s dominance will keep going down as real useful technologies will find its utilities. Buying Bitcoin should be considered as putting money into S&P 500 index now. It is actually a good idea, for most of the people who buy stocks. However, it won’t provide enormous returns.
Crypto I think will still have plenty of opportunities.
While so many people focus on NFTs and gamification tokens, I think it is a really bad idea. This basically reminds me of the mobile app boom that created so many variances of Instagram and Snapchat. All of them have pretty much failed. All the companies motivated by easy money have gone bankrupt. In early 2010s, the best startups were the ones that were aiming for a really long term vision that were solving real problems. Stripe, Doordash, and Instacart are just some examples. Databricks and Snowflake were born at that time too. Or a better idea would have been to go deep into Bitcoin, a fringe market at that time.
Currently I think time would be better served for focusing on real problems within blockchain and solving problems that seem kind of hard. If not, one could also try to serve crypto related fields without going deep into new blockchain technologies. A blockchain company that focuses on the institutions to make them more easily get on board to cryptocurrency, or even simply a youtube channel that goes quite in depth into all the technicalies of current blockchain technologies will be very useful. Youtube is currently bombarded with channels that say this coin will moon and that coin will moon stuff. It is extremely hard to find channels that go in depth into some of the core technologies. Even those that provide some technical information only do superficially. I think this pretty much resembles the dot com era. The ones that have continued to survive are the ones that solved real problems.
If you want to get into crypto as software engineer, my suggestion is to take stanford’s recent blockchain course as an intro to this field. https://cs251.stanford.edu. I think it is a very good course that provides feelings of what it would be like to be a blockchain engineer.
