The Daily Chain – Origins and The Next Evolution
The meteoric rise of Bitcoin and other cryptocurrencies around late 2017 grabbed the attention of the whole world. Every average Joe seemed to be talking about this revolutionary technology and the seemingly easy money that was to be made in this new industry.
People who had never invested before and had no experience with new markets or trading, were openly discussing which alt coin they were going to throw their savings into next in order to make astronomical returns. Stories circulated of couples selling their homes in order to invest in the next big thing.
Some got extremely lucky. Many did not.
It was ultimately this lack of experience that would turn out to be the downfall for the huge majority.
In one of the greatest bull markets ever seen, it was easy to make money during this period. You could throw a dart at a list of alt coins and pop a 10x within weeks. However nothing lasts forever and what many would soon find out is that we were in the tail end of euphoria and a parabolic run for Bitcoin and the alt coin market.
All good things must come to an end and many didn’t have the knowledge, or the skill set to realise where to cash out or how to effectively liquidate their positions. I personally have heard many stories of “unrealised millionaires”, where many couldn’t handle their emotions resulting in the greed taking over. People didn’t know what to do with their holdings and portfolio and saw these incredible gains slowly evaporate.
To prove this point I ran a poll on Twitter posing the question “Have you ever held a bag down to -95%”. To my astonishment here are the results:
And so in the 2018 bear market seeing myself and close friends, family and community members getting humbled by the reality of a bubble pop, the idea for The Daily Chain was born.
The Daily Chain
Many of my friends left the space never to return. People in the office stopped talking about crypto and blockchain and the hype was over. But I vowed to carry on in the space and provide something of worth.
I wanted to ensure that this wouldn’t happen again so I made it my mission to educate myself to a level where I understood charts, trading, market cycles, fundamental analysis and everything in between.
So the idea to build a community based platform where people in a similar situation to me could provide content and guides for people to educate themselves to a level, where they were protected from the dangers of an extremely volatile market was born.
Before entering the Crypto space I had another project called The Good Read. The idea was to provide positive news content to highlight all of the great things that humans are capable of and how we come together to help each other in times of difficulty. Although this may sound cheesy to some, for me the current media landscape provides nothing but negativity and aims to intentionally pit groups and communities against each other. This was to be my small way to attempt to change that.
Although this idea never came to fruition, a spark went off in my brain as I noticed some striking similarities between this old idea and what I was currently experiencing. I witnessed an incredible amount of people lose money, become depressed and ultimately throw in the towel, leaving Crypto never to return.
But the people that stayed despite this? We were warriors. A band of brothers who stuck it through the ensuing bloodbath and refused to lie down and take no for an answer. Our relationships were forged in the fire of the 2018 bear market and we came together to help each other and form unbreakable bonds
Like a phoenix rising from the burning embers, The Daily Chain was created.
So how could I bring about a positive change in this space? Well for me it all lies in protection. The information on how to navigate this space was hard to find at the time and so I wanted to create a place people could come to learn how to protect themselves from the dangers of this market.
By educating yourself, you can learn to protect yourself. And if you are informed enough, with the right knowledge and tools are your disposal, then you have the comfort of knowing that you are well prepared to tackle this space head on.
And thus the mantra of The Daily Chain is formed: Inform. Educate. Succeed.
The Next Evolution
So what now?
The Daily Chain will always strive to bring the best in educational content and continue to support the incredible community which has given us such an amazing backing over the last six months.
However it’s time to look forward and expand our offering as we set our sights on something bigger. Working with various projects on producing content for them has given us the financial freedom to allow me to go full time but also make my first hire – Darryn Pollock.
Darryn is a journalist, originally from South Africa. He actually began his career writing about sports for the papers over there, but his interest and intrigue around Bitcoin and Blockchain soon had him writing about this new and exciting space.
Having combined his writing skills and his interest in cryptocurrency, Darryn began publishing his work on Cointelegraph about three years ago, he soon branched out and took his writing to some of the top publications across the cryptosphere.
From Cointelegraph to Forbes, and a multitude of other platforms in between, Darryn now joins The Daily Chain to provide newsworthy content, as well as to grow this new side to the website.
We will continue to provide the best in unique and informative content and couldn’t be more excited for what the future holds.
Thank you all for the continued support.
Founder of The Daily Chain