BITCOIN...REALITY OR FANTASY??? WHAT SIDE OF THE COIN ARE YOU ON?
During a recent therapy session... no...I didn't start therapy due to my crypto currency obsession...I was discussing how I had been investing in bitcoin for a few years... had pooled a decent return on my investment...and now found myself a bit too involved daily worrying whether to sell or hold out of fear of losing what I had built up....in fact...it was triggering a lot of age old anxieties in my pursuit to find "security" with wealth and help other family members who are also struggling to make ends meet....
My therapist...who like me is close to retirement age...said out loud..."if it were me....I would sell"....
Fortunately...I'm not him...if I were...I wouldn't have hung in during all the turbulent times waiting for this blockchain stuff to evolve and gain greater investor acceptance...I wouldn't have reached the point where I went from almost nothing to lose to having more than I would want to lose...
Don't get me wrong....I get it...a lot of people see this stuff as hokey pokey....make believe...digital trickery..."its not real....its a scam...its a bubble"....but as I pondered driving home from my appointment...who says it isn't real?
You see...I came to the conclusion if enough people think its real....then it is....at least to them...face it...a lot of the skeptics think the savings account they have at the local bank branch is real...they assume its "stuffed" with their money just waiting in case they need to withdraw it...they think the stocks they own in their retirement accounts are "real"...after all...aren't they backed up by a "real company" that does "real things" and valued daily by real stock market traders?... Isn't that gold bullion sitting in their vaults "real"....After all...its shiny....makes fine jewelry...takes a lot to get it out of the ground...and for thousands of years people have been told how special it is...and by the way...it has "real' gold traders telling us what its worth on a daily basis....same could be said for the many gems that exist...
And what makes a "collectible....collectible?" Because its scarce...."treasured"....and enough people want it to make it valuable?
So if I and a few million other people around the world look at crypto currency has having some or all of the qualities mentioned above....and are willing to put our money where our mouths are....then it becomes real....
Add to that a "boomer" generation coming into power....having lived through their young adult years....protesting....experimenting....questioning authority....disgusted with today's paralyzed governmental structure......suddenly igniting those lost emotions and sending a silent message with each coin they purchase... which leads to the underpinnings of an emerging new society less dependent on a centralized power structure and more dependent on personal independence...."Country of Crypto" anyone?
Couple that with this new age of connected technology...face time replacing face to face time...the constant stream of video games or video interruptions stimulating us daily...and a "currency" that offers the excitement of "Cruz Ball"...(an old "Genesis" game system game I got hooked on) ....and you have the perfect worm hole into a new reality...."Yes Virginia....there is a Santa Claus"....
I'm on the side of the crypto market over all. Let the market figure out the best coin to trade.
100% agreed
No doubt it will...thanks.
I think there is quite a bit of disillusionment surrounding BTC, who actually controls it, how vulnerable it is and how the market it pretty much way to Top heavy at the moment.
https://steemit.com/bitcoin/@pawsdog/is-bitcoin-really-decentralized-or-are-we-being-led-like-lambs-to-the-slaughter
@pawsdog
Ur point is correct, as people investing money in BTC actually does not know the underlying blockchain technology. Most of people are in state of FOMO( fear of missing out) so they are investing and now institution money coming in like CME or CBOE this year and next year, institutional money is trading and making it high volatile. However as a true believer in technology and long term it is worth. As always 90 % people lose in trading and long term investors outperform them in all way.
About the control it is decentralised but not very decentralised as 20-30 big players are involved heavily and as long as their pocket is being filled they will keep the network stable but thing like Bitcoin Cash they will try to switch sides as miner loves only money at the end of the day. So it is still very early how far the BTC goes. But in overall Science behind is innovative and lot of project are awsome in this field.
This is why a currency like Verge will succeed🙏
Scary points but true...I guess every system no matter how "decentralized" has dependence on someone or something.
Yeah there will always be a gate keeper/s to everything. Where there is power to have there will be people to grab them. Yet I think the opportunities in crypto gives everyone a better chance in life. This may not mean it is fully "decentralized" but at least the spread of wealth has better chance to reaching countries that may never had the chance to prosper with fiat.
I also agree. Everything at some point is hijacked.
Very true... I just try and look at the situation from the financial perspective of the miners.
Nice comment and yes at the end of the day it all comes down to business for the miners.
is real bitcoin
Oh so true , My Dad and I agreed to invest only what we willing to lose. Now it has grown above what I was willing to risk . Before no stress now I think about it more.
Days like today are a real test...Good luck in your choices.
Wow. I understand what you are saying oh too well. I bought some bitcoins back in the day and I have been trying to find which computer I saved the wallet to. I am totally racking my brain to hope I find what could possibly turned my families's situation around. Back then I got some on a whelm of what I could afford, but the bad thing was that I was not into it like I am now. Oh, it is definitely those moments that you look back and wish that you had done somethings differently all because of not trusting that gut feeling. I wish I would have been like you and pressed on. Well I am trying now to chose the right waves this time. Thanks for the post, it really makes one think about true decisions. Now I am trying to be on top of everything and paying other people no attention.
Believe me...I ignored my "voice" many times over the years...
I certainly hope you find that computer...
See the proof of my bitcoin cloud mining contract in the bellow link.
https://steemit.com/bitcoin/@pvhittalamni/how-successful-bitcoin-cloud-mining-is
Hope you believe now. Anyway as some people say only invest what you are prepared to loose to be on safe side.
Congrats and good advice.
right bro
hi
I feel Bitcoin is in speculator territory as it’s price rise has been nothing less than spectacular.
These kind of price rise could be noted in IT stocks in the 97 - 2001 period and banking and financial stocks 2004 - 2008 aptly called irrational exuberance by the then fed reserve chairman Mr. Alan Greenspan.
After the speculator market is over a more mature market tends to take its place where more sensible metrics is used to value the true worth of the currency.
I feel Bitcoin is now in fantasy land and a more realistic market is yet some time away.
You could very well be correct...I don't own much bitcoin....use it mostly to trade other altcoins which I realize are most likely more speculative in some ways...but...the market is less about real life use and more about how many people want to buy in....
I think crypto is just a more efficient system than the centralized currency that precedes it. I don't think Bitcoin will, unless there are significant changes made to the software, but other coins can easily handle the economies that are currently running on fiat and do so more efficiently.
Reminds me of investing in penny stocks years ago. Throw a $100 at something and forget about it... until it moons! Then you worry. When you say "I came to the conclusion if enough people think its real....then it is" it made me think of Santa Claus. Season's Greetings!
To you as well...wouldn't surprise me if Santa had his own blockchain...
I'm certain he does!
If I ever made a semi-reasonable amount of bitcoins and such, I would probably get some real estate, just to be sure.
Sounds like a smart investment...
true - well this proves who the real satoshi is
https://steemit.com/bitcoin/@pangopango/szaboshi-nickamoto-a-clue-in-the-satoshi-nakamoto-mystery
Amazing what mathematical analysis can produce...fascinating hypothesis.
I am intrigued by this analysis!