ACCORDING TO @melip: THE REAL REASON OF WHY THE CRYPTOCURRENCY MARKET IS DROPPING
After my incursion into the CCM (cryptocurrency market) back in February of 2017, I couldn't stop telling people about this miracle technology.
People participants in various social medias started to spread the news about how fast and how easy it was to multiply your investment in a short term. I always told people the number one rule of the crypto-world; LEARN ABOUT THE BLOCKCHAIN TECHNOLOGY FIRST AND THEN INVEST.
Many of the people I spoke really understood the concept but honestly, the great majority of them just joined because of the idea of easy money.
Time kept its march and we all celebrate joyfully the sudden and crazy rise of the entire market. Our investments started to grow from hundreds to thousands of times the initial amounts and things couldn't be better until...
http://fortune.com/2017/03/19/bitcoin-hard-fork/
Then everyone thought; well maybe I can move my Bitcoin money to Ethereum but...
Yes, an ETHEREUM fork was also announced and suddenly the people who never understood the concept of blockchain technology started to panic and consequently to cash out their investment fearing the worse.
I had people calling me saying (and I quote) "... the market is slowly dying, should I cash out?..."
Really, that's it? It hasn't even been six months bros. What kind of investors are you...?
Any way. I also understood that people don't follow things that are hard to understand, most of us go for the easy things and most of us don't even care to read or watch or even ask. We just see whatever the gap between the "relaxation mode" and the "panic mode" allows us to see.
People like this are causing the market to drop the way it is dropping; it is not the technology involved, is not that the projects have stopped. It is not that Bitcoin or Ethereum or any other of the 810 Currencies and 168 Assets are not working or won't work. It is the lack of understanding that many of these poorly informed individuals that took a chance of investing in something that they never understood and will never understand.
This is an amazing moment for the CCM for only the people that truly understand the meaning of this miracle technology will stay and make it fructify.
We don't want to do business with greedy people that only think fiat money. The future of blockchain deserves the people that will stay in it; we will be better without the scared, the afraid, the greedy, the lazy and the ones that bathe in their own ignorance and live comfortable that way. We don't need you and we don't want you.
S T A Y 👉 O U T !!!!!
PLEASE UPVOTE AND FOLLOW
THANK YOU!!!
Here here. Im into crypto since 2014, I sat on my coins making very modest amounts of gains, Im active in the communities, spreading the word by posting on forums, and sometimes speaking at tech conferences and meetups. I even learned a little programming to help contribute to one project.
I feel I earned my place here, far more than someone who does some trading to extract profits back to fiat. And lets be honest, in terms of the people really doing the hard work, my contribution is insignificant. It really pisses me off that people put so much time, effort and passion into trying to build something new and unique, just to have some greedy people extract money from it. Every time that money is extracted back to fiat a bit of energy from that project is lost.
Its late and Im feeling emotional about it. Sorry and all that.
It is emotions like yours that made me write what I wrote. I fully understand you.
I have a few friends call me and ask the same thing "Are cryptos dying? Did you cash out?" My response is always the same. I'm in it for the long term. All these forks are just technological improvements to the network that will benefit everyone. Some people just don't understand cryptos yet.
very very sad and very very true 🤓
Thanks for a terrific perspective on the approach to investing here. So many people seem to have jumped on this bandwagon because they thought it was free money, as you allude. Short term pain, long term gain for those of us who are here for the long haul, but your point about understanding the underlying technologies, tweaks and improvements is critical. Perhaps the short termers keep missing the "beta" in the Steemit landing page. Crypto, and Steemit in particular, are a fascinating experiment in human nature and game theory. Will be looking for more insights from you as we hit the hardfork rapids over the next few weeks...and months....
Thanks for your very well versed comment. My incursion to this new technology also brought the responsibility to share what I understand of it and to keep informed as many people as I can.
The purpose of knowing as I take it is to share what you know in order to build a more prosperous community.
You have a new follower 😘
Thanks, @melip! Looking forward to getting to know your perspectives and insights through the platform.
Beta baby! This is one huge experiment, I feel some people lack an appreciation for what this is all really about, not just steemit but the entire crypto-space.
Yup!
I agree 😘
Great post! THX!
You're very welcome!
Thanks for sharing!!!!!!!
No problem 😘
Follow and resteem !
A lot of people are laughing at me for not cashing out a couple of weeks ago, but they don't seem to understand the influence this technology may have in the future. A couple of weeks should mean nothing to investors. I plan ahead for at least 10+ years...
Nicely put.
Well said!
Just weak hands shaking, some of them will understand blockchain technology and join again, that has been happening since the beggining of crypto.
Weakness is the best friend of cowardliness. Thanks for your input 🤓
Great post man, I completely concur. Wish you got more than 2$ for it, bah.. I am in crypto for the world changing aspects that will make the world a better place.. the Constitution on a blockchain. An agreed upon, transparent new world. I mean how dope would it be if steem was worth tons, and you could upvote nasa and fun a project, or upvote the roads commission every week, so they have money to build roads.. not that this will happen on steem.. but the future is full of possibilities man
I feel you brother.