Testing the Hypothesis Part 1

Many investors are curious to begin investing in the cryptocurrency market but are intimidated by the knowledge barrier that they must overcome to understand the subject.

The Who: Potential Investors

The What: They lack an organized source of information to explain how to get started with cryptocurrency investment.

The Why: This type of investment is relatively new and is based upon a complicated technological concept.

Hypothesis: If I create an organized hub for the basics of understanding cryptocurrency, I will capture the market of curious investors blocked by the information barrier.

Interview #1: In my first interview, I was very happy to find that the "What" of my hypothesis was correctly identified. This uninvested person is very interested in the cryptocurrency space but is afraid to enter because he does not trust any specific source for information. I completely understand this, as many of the crypto news sources fall victim to false leads and extreme bias. This conversation made me realize the importance of keeping my bias out of the organization.

Interview #2: As I spoke to another uninvested friend of mine, I gained essential insight into the earning potential of this organization. While people feel uncomfortable paying a fee for individual advise, they may be open to paying a small monthly fee for a subscription-based information service. She told me that she would be more comfortable with this business model because she is already subscribed to several other services.

Interview #3. During my third interview, I discovered something very interesting about the "Who" of my hypothesis. I spoke to a friend of mine who was already held minor investments in cryptocurrency to see his opinion on the idea. He loved it, which made me realize that this is not strictly for potential investors. There are current investors who still feel like they lack a complete understanding of cryptocurrency, and they are even more motivated to subscribe to an information service.

Interview #4. Now that I have gotten insight into the "Who" and "What" I needed to learn about the "Why". I reached out to a colleague who is very knowledgeable on stock market investing and I asked why he still hadn't entered crypto. From this I learned that some potential investors are wary of cryptocurrency simply because certain financial figures, such as Warren Buffet, advise against it.

Interview #5. At this point, I have gained lots of relevant knowledge, so I decided to reach out to a professor that has been a mentor to me. In this discussion we focused on the potential threats to this business model and identified our biggest concern is the stability of the market. If the market takes a downturn, customers may become disinterested and unsubscribe from the service.