STOP WORRYING ABOUT THE PRICE OF BITCOIN!
If you bought it at $18,000 for example then there is nothing you can do except wait for it to go back up to that level again.
My whole reason for buying bitcoin is because I believe it will be worth at least a minimum of 1 million dollars over the next decade. I’m buying bitcoin almost every day regardless of the price and I’m mining it also.
I used to be a complete bitcoin skeptic until I fully understood its significance as a store of value as well as a medium of exchange.
I realised just what is going on behind the scenes and how technology was being developed by the worlds best coders to make it a viable payments system and I also realised how regulation would be needed to ensure its mainstream adoption.
Once regulation has been agreed upon to ensure ordinary people are protected and that proper accountability is in place for companies that offer exchange services and other services around the industry and when full KYC compliance is introduced so that taxes can be collected and illegal activities can be traced and scrutinised, then and only then can the value based on the limited supply of a fully decentralised currency can be realised into the hundreds of thousands or millions of dollars per coin.
The decentralised nature and finite supply of bitcoin is what makes it appealing and popular to the people that see fiat currency as a giant bubble and ultimate scam but it’s the regulation of bitcoin that will truly take it to the mainstream.
Applications like the lightning network which are additional layers of technology which are added to Bitcoin to make it possible to scale above the limits of standard systems like Visa and MasterCard and that will be necessary to ensure mass adoption as a payment method rather than just a store of value like Gold.
Millions of merchants need to be able to use it to make it viable as a currency and so until these technologies have been fully developed then Bitcoin needs to be seen for what it currently is and that is a long term investment.
Unless you are a trader and are trading to make your living or you are using bitcoin as a way to survive then the extreme fluctuations that we are seeing can obviously be a challenge, especially if you are relatively new to the CryptoCurrency space.
So if you are in this like me for the very long term, then there is absolutely no need to panic sell your bitcoin or worry about the fluctuations in price.
Stop listening to the FUD and understand that CryptoCurrency and bitcoin are here to stay and that watching the price on your mobile phone every few minutes is a sign that you are involved in this space for the wrong reasons.
Hold your Bitcoin and keep accumulating it if you can and treat it as a long term investment that will give you a very handsome return over the long term. Just don’t sell on fear and uncertainty because by doing that you are not realising what an incredible opportunity you are throwing away.
Source #SteveLawson
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