Satoshi, Bitcoin founder, spoke about the importance of decentralized blockchain technology, helping us not depend upon centralized financial systems’ trust. Some people have a hard time imagining a life without centralized institutions brokering relationships and making decisions on who they think we should trust or not.
However, Ryoshi, the founder of Shiba Inu, says not only are we dependent on centralized institutions, but they set the rules for us without considering whether those rules benefit the well-being of most or serve the personal interest of a few. As we move away from centralized institutions and into decentralized spaces, we need to build community and cultivate peer-to-peer relationships between human beings.
Decentralization allows us an opportunity to return to the roots of getting to know people. It helps us get back in tune with building trust as we make financial and investments decisions. There are no decentralized institutions like the Security Exchange Commission in the USA. So we must rely on our senses, research, gut feelings, and associates as we enter into holy crypto matrimony, but divorce is a normal part of the relationship. Let’s build authentic relationships and not skip the crucial steps before committing our lives, resources, time, and money to a project, ecosystem, or community.
Let’s start with learning who the people in the community are and the cultivated culture of the token/coins. Find the people of character who you can learn and trust; we can determine this by their willingness, to be honest with us about the pros and cons of the cryptocurrency. Take time to study the “influencers” and powerful voices that impact the culture and community. Please research whether or not they are doxxed, the developers, growth team, and volunteers. Determine if you like how they communicate, give updates, and share the vision for the future.
We all love to learn the positives of a project, but we also must spend equal time learning the negatives of the community. Train your brain not to bypass the negativity to justify your desire to invest. What negative experience are you having with community members? Is constructive criticism of the project acceptable? Is there a cult-like culture to worship leaderships? Are there spaces to get your legitimate questions answered? Is your right to remain private respected? What negative comments are you reading on social media platforms? Do you feel the developers are trustworthy?
There are no police, agencies, governments, or institutions that will ensure your protection. All we have is each other. Let’s build strong relationships, cultivate friendships, accept new associates, and look out for those in our unique communities. These sentiments are what I believe is the spirit of the decentralized way.
The People’s Investor