How did you check the latest Bitcoin price? When did you become aware of the latest proposed crypto regulations. Let's think about Crypto News You - The Sources Feeding Your Path Forward.
The Steering Wheeling
Let's make a minor assumption to start with; that you like many other crypto enthusiasts around the globe are curious about the Bitcoin price movement during any part of the day, especially as of late.
Here's the thing, who actually has their hand on the steering wheel of where you consume your crypto news, content, information, updates and even entertainment? We all think that we are in the driver's seat. Is that really the case?
Whether it's a twitter feed, one of the major crypto news sources or even some other social channel, at times the echo chamber can grow in size and we don't even realize it. More importantly, we may not realize how the algorithm is driving your attention, which then has other results downstream.
Big Organization Example
It wasn't that long ago, I learned how this echo chamber works in real time and from personal experience. While working in a big organization I saw the message game take on a life of its own in a fascinating way.
So this large organization with around 5,000 employees across the entire country with hundreds of unique locations at times felt like a social club in terms of how information was shared and consumed.
The story goes that one of the executives was planning to close down a handful of locations and redirect 25% of the operating P&L. Now if you've ever been part of a big company organization, you would recognize this as a plausible scenario that anyone would have to deal with.
Here's my reason for even bringing up a scenario like this.
As the content was socialized throughout the communities both internally and externally, you could see the trend of the conversations were fairly narrow in terms of scope and source.
In simple terms, the words of 1 or 2 people who were not "in the know" ended up being sourced and repurposed over and over again.
Have you ever seen or experienced this happen? Now relate that entire scenario to crypto. I bet it sounds eerily familiar.
So What Happens Next?
When you are lucky enough to recognize this situation when its happening I must first say congrats. You're in the fraction of a percent around the world that is actually operating in that fashion.
Odds are that you are just rolling along trying to take care of business and check of items from your "get it done" list. But here's the thing.
Quite often the reason for our situation is that we are habitual creatures. Even if we think that we are adding variety into our days, our news diet or even our activities, that too is our habit. The subconscious seeks efficiency and a habit is far more efficient in terms of energy spent on deliberation and decision, even if the activity itself is far less efficient.
The point in all of this is that with the cornucopia of sources, videos and other content, you would spend all of your time trying to purview everything in existence and availability. I tend to tackle this conundrum and seek efficiency.
An Approach
The word that comes to mind when I think about this situation overall is the approach but more importantly I would say: LEVERAGE.
In principle this is the same as you would think about with a trade. In essence you are amplifying your reach. When it comes to your time and attention Leverage is the name of the game, even beyond the Basic Attention Token.
While it is not "THE"approach, "An" Approach to consider while seeking to leverage your focus is that stacking your sources of content is paramount.
So what am I talking about "stacking" your sources? Now remember, as in other articles of mine you may have read, I have frequently talked about having a plan and executing your strategy. Still foundational here as well.
If you're focused on growth, income or some other combination, it is all personal to you, but leverage is critical in amplifying the content and information that is coming to you. This will lead to more informed, better decisions.
Be sure to adjust this for you and your situation, but a template to work from looks something like this;
fundamental analysis
social activity
energy
These three categories are just the start, but let me run through a scenario and see how this looks like for you.
Let's take XRP and some of the more recent news with the SEC.
Fundamental Analysis -
Any work that you do in the crypto space needs to have a solid fundamental analysis included if not driving a huge amount of the body of work. It's easy to get wrapped up in any number of different sources so having a solid go to source with fundamentals is important.
So with XRP, the Blockchain Backer has been a solid source of analytics and reading the charts. They are consistent, timely and have a common sense approach to interpreting the candlestick data.
Now one source is never enough but it is a good source and I would suggest that a cornerstone source is needed to work from.
In addition to the blockchain backer there are numerous others from Bitboy, Chico Crypto, & the Altcoin Daily.
Social Activity
Now this should not come as any shock but interpreting the trend and emotions around any project can be pulled from much of the social activity.
Obviously Twitter is a quick snapshot and can help point out a few other paths to check out whether it's formal events, Ask Me Anything's with management, a projects social channels or anywhere else, you can see all of this from the social activity.
Energy
This last topic is where everything gets really interesting. Depending on what you believe and how you look at the world you may use different words.
Let's start with this so we at least begin with some common ground. Everything that we see, hear, touch and feel has an associated frequency. At it's molecular level there is movement. Whether it's the computer I working on, the chair I am sitting or the clothes I am wearing.
At a molecular level there is vibration as protons, neutrons and electrons are comprising matter. Fair enough.
So if we have that in common then I say there is a frequency associated with that movement. Like waves across the watter or ripples in the pond after you drop a pebble in.
The frequency is made of a wavelength with a crest and a trough (high/low). So when we think about these projects, platforms and digital assets, we could make the assumption there is an associated frequency.
What you do with that information is up to you and how you receive it is another matter all together.
The Crypto Triangle
So we just covered the crypto triangle and what is absolutely fascinating is that each of these categories can exist independently of each other but are also inextricably related.
A project's energy can be derived as well as drive the social activity. Also, the fundamentals can point to as well as receive input from the social activity as well as the energy associated with a digital asset.
Basically if you take away any leg of this triangle, your risk of a less informed, good decision increases.
The Path Ahead
These days it seems that any long held belief is under discussion as it it's validity & appropriateness. Take for example some simple math.
Does one plus one actually equal two? 1+1=2? The easy answer is yes. The more "figured" answer is it depends. Does 0.6 + 0.6 = 2 if you round up? You see where I am going with this.
So the point in all of this is that the 3 legs on the crypto triangle can help you get to what you need to make well informed, solid decisions.
