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Once You See a Bandwagon, It’s Too Late
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Bandwagon; when a small number of people make a success out of something and everyone else jumps in, trying to get a piece of the action.
The problem with bandwagons, though, is that the success has already been had. To make anywhere close to what those first lucky few made is damned near impossible.
The Goldrush was one of the very first bandwagons. A miner struck gold at a Californian sawmill, prompting thousands to flock to the area trying to get some of the same. The first few managed somewhat, finding a bit more gold, but as word got out hundreds of thousands started flocking and quickly realised there wasn’t anything left.
Let’s look at the Bitcoin bandwagon, for example.
Since its inception around 2008 and until the 3 year-ish mark, Bitcoin was trading between $0.01-$20 per coin. Only a small amount of people took notice. It was new, small and seemingly quite complex, many didn’t bother to learn more, some…
