Today's vlog was inspired by a Charles Hoskinson tweet thanking the Cardano community for, inter alia, not being the EOS community.

Coin 'community' myth

The idea that there are these neat demarcated cryptocurrency community is a myth. I've been to many meet-ups in London, Ethereum, EOS, Dash. Speaking to people at these events I find the majority are keen on many cryptocurrencies. It's rare to find many people that are 'all-in' on one. If anything most people tend to have a strong bias towards coins that have given them the best return - which I guess is natural. I've no doubt that a large part of that 'Cardano community' Charles talks form part of the 'EOS community' that he is not so keen on!

Crypto blinkers

My message is a simple one. This cryptocurrency/ blockchain space is not a zero sum game. You do not need to be in one camp or another camp. In many instances it can be unwise to do that. Often becoming too entrenched in one coin blinds you to it's weaknesses and the strengths of other propositions.

It is natural to have your favourite coin or one that you think is most likely to succeed. Devoting most of your investment and time into that make sense. However it also makes sense to hedge with other coins rather than feel anomosity. I find the best way is to take a position (even if its a small stake in 'rival' coins). As this is often the best way for me to objectify my perspective on them.

We win together

The saying that 'a rising tide lifts all boats' has never been more true than in cryptocurrency. 2017 should be testament to that. All cryptocurrencies benefited from the rise of Bitcoin as investors sought cheaper alternatives or to spread their risk.

I've made the mistake in the past of over-committing on coins I thought were 'the one' and abandoning coins I thought were suspect.

I got into Dash (Darkcoin) when it launched and ditched the majority of my position when I bought into the FUD about it's premine/ ninjamine. Back in 2014, for a developer to premine a coin and not have a "fair launch" was seen as the death nail of a project. Now every other token is effectively a premined ICO and Dash has strived.

I passed on the likes of Ethereum and Monero after I was completely underwhelmed by my experience trying to sync the wallet only for them both to moon, soon after. I was convinced I was "right" about the viability of these projects. The market was convinced otherwise.

Happily wrong

My motto now is I'd rather be happy than right. If I'm wrong yet can bask in the success of a coin I was wrong about, courtesy of a hedge - that's a great position for me.

I've been wrong about many a coin however through experience I've learned it is better to be wrong with a thick smile and healthy portfolio.

Happy investing!