Entrepreneur Gary Vaynerchuk Tells Crypto Community To Practice Patience
American-Belarusian Entrepreneur Gary Vaynerchuk Requests The Crypto Community To Practice Patience
The volatility in the crypto market has been making crypto investors crypto investors anxious. However, Gary Vaynerchuk, during the Chainxchange conference in Vegas reminded us all that we are still really early in this space and we need to deploy more patience.
Gary Vaynerchuk is a well-known entrepreneur with millions of followers across social media channels. He got into Bitcoin back in 2014 and has HODLed his way through, he is a big believer in the Blockchain technology and he has also said that it has the power to overthrow Governments.
As the Crypto crowd mainly consists Millenials and things move so fast in this space, a lot of investors want to see their coin moon so that they can get rich in a week, but Gary stresses on how early we actually are with Blockchain and how far we still have to go.
In the speech in Vegas, he said: “To me Blockchain as a technology is a foregone conclusion, but the currencies that are built on top of it have enormous volatility, for all the people here that tell each other how they made a million bucks in 12 months from zero, I want everybody to know that I have over 10 thousand messages and emails in my inbox right now of people who maxed all their credit card and bought Bitcoin at 15 thousand…who are in massive depression and sadness. So please understand that when we’re in these spaces there’s enormous volatility and its very F**king early, like real early”
— Nye (@MrMichaelNye) August 15, 2018
We went on to discuss the market depth which is one of the main reasons why most of the Cryptocurrencies are valued massively, he compared it to the internet bubble where most of the companies went to zero and this likely happening with most Crypto tokens.
Gary added: “99% of the browsers and search engines that people made lots of money on in valuation in mid 90’s went out of business. I think it's very important for people in this space to understand that it is likely that 90 to 98% of the currencies will not make it”