Jan Granroth: Infants like Roger Ver and Jimmy Song pose a risk to the entire crypto industry

Concepts like economics and savings are by most people probably associated with greyness, boredom and total lack of room for anything out of the ordinary. The financial world is, by all means, in need of some (loads of) fresh thinking, but there is a good rationale behind conveying such a boring impression in case you wish to manage the funds of others.

For this, a certain amount of grey suits, predictability and maturity are expected – things rather scarce within the crypto community. After all, most people are not willing to let their hard earned money to be managed by a youngling, full of risk appetite and rockstar complex, with dollar signs in his eyes, and all topped with an unhealthy dose of self-confidence.

Unfortunately, the crypto industry time after time shows a lack of understanding, or will, to care about this.

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Toddler level debate

A tragicomical example of what I mean is when two of the most well-known names in the industry, Roger Ver and Jimmy Song, recently had a debate – or tried to have one. In fact, they weren’t even able to start it before they started quarreling in an immensely childish fashion.

Our politicians are often blamed for childish behavior, but the crypto community seems to just have entered the toddler level at best.

We need other than risk-willing young males

Up until now, it is mostly young men that are interested in cryptocurrencies, which is natural given that they represent something new, revolutionary and rather risky. Factors that aren’t likely to attract old school investors. Not women either, by the way, since they as a group are rather risk-averse.

More credible female representatives in the crypto industry would in itself definitely decrease the impression of extreme risk-willingness associated with the topic.

Also, the younger men who have found an interest in cryptocurrencies tend to be even more risk-willing than the average. Just look at Ponzicoin, where the developers made clear it indeed was a real Ponzi scheme with inevitable losses for most participants as a consequence. Despite this, the total market cap at times exceeded $200,000.

It is totally fine to participate in Ponzi schemes if that’s your wish, but to have crypto investors as your role model is most likely a bad idea. On the contrary, they can often serve as examples of how not to act when investing.

“Most of us dismissed the idea of bitcoin”

For me, who despite all questionable things going on, still firmly believe that cryptocurrencies actually can lead to great advantages for common people, it is vital to get more people interested. With that in mind, the debacle – sorry, debate – between Jimmy and Roger is exactly what I don’t want to see.

After all, I am of the belief that most of us dismissed the idea of bitcoin and cryptocurrencies the first time we heard about it, so it is of immense importance that there are serious advocators who bring credibility in order to convert the initial and totally valid skepticism.

If I was pondering where to invest my saving funds and happened to see the spectacle between Mr. Ver and Mr. Song, I surely there and then would have come to know at least who NOT to entrust my money with, as well as gotten a feeling that zero interest saving accounts are not too bad of a deal after all.

Jan Granroth,
Reporter at Trijo News

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