Will you be willing to invest Crypto in Agriculture?
Will you be willing to invest Crypto in Agriculture?
I've been flirting with the idea of going into farming for some time now. I actually had a short lived attempt in the past that was an epic fail because of lack of planning and proper funding.
I intend to try again and I'm looking for responses and ideas, what do you think?
- Yes. Totally on board with it.
- Yes. Crop production only
- Yes. Animal farming only
- Maybe. Sounds risky though
- Not interested.
Answer the question at dpoll.xyz.
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There some stuff cooking already for quite some years, but they need all to deliver. As you said, it needs planning and despite the need for funding, the most important is to understand if your objectives are clearly defined and achievable.
I know right?
My motivation is to create a farming project but the ultimate goal is actually to make profit. Getting enough information before delving into the nitty gritty is the best way to go.
I will love to hear about your project and perhaps share information and tips, challenges etc.
Being profitable is way more than a goal... at least a realistic one (in my view). It's a requirement! (beware that I am not saying getting rich...ok?) Without profits, companies can't grow or compete against others for better products. So essentially if you want to build business you need necessarily to think about profits/losses and how far to go on each side to operate. Also... if those objectives fail, to define clearly when to trigger the "quit".
PS.: Not sure where in my text I said or meant I had a business/project about agriculture... but ok. I was only referring that there is stuff from "others" out there. If you google it, you will find it I am sure.
Oh yeah, my bad. I misunderstood you but your point is very valid and I appreciate it. Your thoughts mirror mine in the sense that it is more about growing steadily than instantly getting rich. Thanks for you input
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Sounds like you're starting from scratch. Make sure you do plenty of research.
Here in Thailand many farmers invest in new crops only to find that everybody else has done the same so that the projected sale price drops dramatically. Then the cycle resumes. I can buy a delicious whole pineapple here for under 20 cents.
So think carefully about added value, perhaps organic, maybe food products, such as dried fruit.
Yeah, I'm starting from scratch. i will approach it like a novice and do extensive research before making any decision. the price of things is basically the same in Nigeria and there are seasons. The plan is to take advantage of the market, will produce then hodl haha.