RE: Cautiously Celebrating Bitcoin $10000
I completely agree with needing to get the word out to the masses to help them better understand what this "industry" is all about but there are going to be those who will be the all time skeptic when it comes to anything new. I like the idea of an open source of currency and I do also believe there are plenty of people invested into it to make it stay for the long haul. Which one will rule them all? Who knows but Bitcoin is doing a pretty good job so far.
I feel myself even getting to where I say "back in my day..." when I'm at work and it burns me up because I always told myself I would never do or say that one line. Do I think cryptocurrency will continue without some sort of regulation? No, sadly I don't. All good things must come to an end but not before many millionaires are made. Jump on the bandwagon while you can guys!
I think the blockchain will reinvent trust itself which will change how we shape societies and governance. Laws are just threats of violent force. In a world where peaceful cooperation can be more profitable, humans, like water, will flow to what benefits them. Aligned incentives will make attempts to regulate seem archaic (because they are). No one "owns" the blockchain. It's part of nature now, and I don't think it can be stopped. It may be pushed under ground for a time, but even the governments of the world aren't so stupid to realize how powerful this technology is and how they can't un-invent it. They will try to subvert it, discredit it, and copy it, but it will live on as what imagine it to be.
I totally agree but with the way some governments want to regulate things they can't control it is sadly bound to happen. Net neutrality sound familiar? There will always be someone thinking about how to make something open source for all to use and it will be unregulated for a time. I don't see it being fully regulated any time soon but that's why more people need to jump on it.
I think the big thing that may turn some people away is reading a lot about people being scammed or hacked and losing money rather than making millions just by sitting at home doing nothing. I really don't see it any different than investing in stocks. If you invest in the right ones you can make alot of money just like the stock market. I think the biggest issue people will have is security.
I agree, security is key. That's why I'm trying to help people with @ubf videos. We can level up and secure our own stores of value, regardless of what the government does, but it takes personal responsibility.
I think every attempt at government control just creates new opportunity for freedom-loving innovation. People being scammed or hacked is what also reinforces the need for personal responsibility and security. Password managers, up-to-date anti-virus software, operating system security patches... this is just the beginning of what people should learn about.
More and more people everyday are coming into the crypto space, so naturally it is becoming the peoples personal and collective interests. In free democratic societies governments are "supposed to" protect the interests of the people, so I try and stay optimistic when the discussion of regulation comes up, regulations can be a good thing and help protect more people allowing for a safer more secure overall community.
I agree that the blockchain is in nature now and it wont be stopped.
Thank you for educating us luke, and also hilarski! I really hope, as you say, that blockchain will not be stopped, and neither regulated. I am sorry that I don't engage more in discussion, but for the moment I feel that I have much more to learn before I will be able to express a valid opinion. Thank you again!
No need to apologize! We're all learning as we go and some have just been doing it a bit longer than others. Anything you learn is something you can teach to someone who knows nothing about what is happening in this space. You'll be their guru.
Oh, you are so right, I have taught some of my mates at work, and some just invested a few thousand dollars in Ethereum, because they found it promising. I don't have that money right now, but I hope I will be able to accumulate in time in order to invest. I just try to share the knowledge but I feel that I am not so confident yet. Right now I am learning about proof of stake, and one coin that interested me (since it was much lower a few weeks ago) is Cardano's ADA. I told myself that one of these days I am going to ask you what do you think about it, but I don't know if it is the right moment and if you have the time to share your thoughts about it :)
I hadn't heard of it. Up 160% today?!? Dang. Huge supply. Is this a pump and dump? Being a top 8 coin with 31B in supply? I dunno. I try not to buy anything at the top, but maybe I'll look into it later to figure out why it spiked. Good luck.
Thanks a lot, sir!