Satoshi Nakamofo! What's the Deal, Man?
Don't you just hate this guy right now? About a decade back, he released his coded vision for a new form of digital economic transacting via something called a "blockchain". Fast forward to now and his superfluous actions of grandeur have led you and I to where we are sitting at this very precise moment. Bag holding a crap ton of coins we otherwise wouldn't have been. Welcome to cryptocurrency. Land of the free and home of the pissed...
It's like a "Pandora's Box" has been opened, right? Well, I feel that is the case when it comes to the crypto market. Sure, Bitcoin has already had a decade of being available to the masses as well as enjoying some hefty long-term profits too along the way, but the truth of the matter is we're still extremely early to the game. A decade means jack when you're talking about the possible evolution of the entire global financial sector. These things take time and patience to play out and being so zoomed in, like we all are at this juncture, doesn't help matters one iota. Because the bottom is this...
Sure, people may have heard of Bitcoin. But mention *Ripple or Ethereum to most and they'll think you're chatting speak from another planet. Is this a bad thing? Well, not really. Being at the very cusp of such a humanity-evolving technology, is not only extremely cool but can potentially be quite rewarding in monetary terms. There are incredible opportunities on the table right now that simply won't existing in the future when regulation and mass adoption kick in. People call this the "Wild West", but if you're Billy the Kid, it suddenly ain't such a bad place to be after all. What I mean is, just because these markets are tremendously volatile or some unfortunate souls have lost vast sums of money in this space, doesn't mean there's not a life-changing strategical opportunity hidden somewhere within all the noise. In fact, I firmly believe there "is", but only the most resilient and headstrong individuals are gonna discover it and help aid them across to the other side.
And this latest theatrical unfold in the saga that is "cryptocurrency", is one of the toughest challenges yet. Most of us are clutching onto our digital assets for dear life, watching their value plummet on an almost daily basis. What that does to a person's psyche could be tantamount to absolute devastation. But even this pales in comparison to the feeling of pure insanity, should those participants cash out and miss the inevitable move back up again. As I say, a few will rise, most will fall. That generally seems to be the way of things. And, like it or not, one of the most crucial factors in understanding these enormous swings we have to endure, is because of our pitiful total marketcap.
I'm just being real here. Even at the highs, we were closing on a trillion dollars, which when sat next to all other financial markets, is "still" as insignificant as it gets. The crypto space is a "market makers" paradise, where fat cat players have huge influence either as an individual or small group, pushing or pulling the price which ever way they see fit. Though it's nothing personal against you or I. It just comes with the territory at this early stage in the life of cryptocurrency. And after the crazy capitulation of price from the highs at the beginning of the year, the possibility of market swings due to manipulation, have been magnified tenfold. But don't curl up and weep just yet as this situation won't last forever. People thought the same thing from 2014 to late 2016, where most sold off their stashes of Bitcoin. Jeez, how they must have regretted it. And history, especially in the land of crypto, has a tendency to repeat itself.
So, know that this bear move will be consigned to a "blip" in the story of crypto. A dark event that people will speak of, a few years on from now. Except we're now living it at this present in time.
But your future self won't be...
Thanks for sharing this post .I appreciate your life.
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At the beginning of your post I feel myself sort of demotivating. But at the very end it was not. I appreciate those true words.
And yah after few years people will talk about current situation but will never feel our straggle for sure.
Lol, as long as the end did it for you. :)
I guess one can never tell the future...
You can make informed choices, but yes, predicting the future is impossible.
actually I disagree with you a little
"Sure, people may have heard of Bitcoin. But mention *Ripple or Ethereum to most and they'll think you're chatting speak from another planet"
My son is only 10, soon to be 11. Yesterday he asked me about cryptocurrency. Not bitcoin but crypto and wondered if it was the same a v-bucks used in fortnite.
There is a generation growing up with 'virtual currencies' and they wont really care what they are called,just what they can purchase with them and how can their virtual purchases add value to their game, with any luck as they grow older, the game will change to life :-)
Well, I really hope awareness of crypto spreads, because I've even run into Oxford graduates who've never heard of Bitcoin, let alone anything else. It's so niche right now, we still have a long way to go it seems. I guess we'll all see how it plays out. :)