This last few weeks, we’ve all been subjected to a dizzying, head-spinning Bitcoin roller coaster ride. One during which many pressed the “ejection button” next to their seats, bailing out before the nausea got too intense to stomach. And all due to the irrational ramblings of the powers-that-be, spreading negativity and “FUD" (Fear, Uncertainty, Doubt) throughout the mainstream media and mainly centering around the Coronavirus pandemic.
Now, I’ve been in the crypto game for a good few years and gradually built up a firm belief that this WILL eventually be the way global financing is conducted in the future and far beyond.
The monetary paper note. One of the last of man’s greatest inventions yet to be given the "digitized" treatment. So, with that in mind, it stands to reason that we could well be witnessing the birth of a new era of “money” as we know it. However, our markets are only just starting to gain traction. Most people out there in the general public will most likely not even have heard of the term cryptocurrency let alone understand the concepts behind it. What about the term "Bitcoin"? That seems more likely, you'd assume. But as to what it actually is or how it is used, is another issue entirely. Many new to these markets only join in the hopes of getting rich and not really concerned with the incredible revolutionary technical aspects as such.
So, swathes of new people jumping onto the crypto bandwagon and discovering all the fantastical wonders and advantages it has to offer, should continue to grow over a good number of years from where we currently stand. However it seems a crying shame that those same individuals are just as eager to jump off that same bandwagon the minute some media-related story gets released bashing Bitcoin or it’s fellow digital counterparts. It’s a prime example of herd mentally if ever I saw it.
But without getting too much into the intricacies of the political details (of which the debate is in full swing on many a YouTube channel right now), it cannot be ignored that there is a repeating pattern occurring here. Ever since the inception of Bitcoin way back in 2009, certain groups of the hardcore elite were determined to prove the case against this technological evolution we call cryptocurrency. Bitcoin was ridiculed as a fraud, a ponzi scheme, even some type of Internet hoax at one point. I can’t think of any such invention in the past that have taken such a pounding week after week, month after month, year after year only to still be increasing it’s growth at such an exponential rate. You gotta credit where credit is due to Bitcoin in that respect, if nothing else.
But history speaks volumes. The ingrained resistance to change that the human psyche exhibits has been proved again and again and again. Most of the modern day conveniences we all take for granted, were at one time or another, being conceptualised in somebody’s mind. A theory that some “outside thinker” had the audacity of going against the mass “train of thought” and simply found a better way. The planes we fly in, the cars we drive, computers, tablets, phones. They all were at one stage ridiculed as being a far-flung fantasies devoid of any merit or inherent logic. Yet here we are enjoying the fruits of those famous individuals who fought through all the BS propaganda and strove to create a better world for us to live in.
I see Bitcoin as our newest addition of the above. It doesn’t matter who created it or where it came from. The more important issue is does it serve it’s fundamental purpose. And the short answer to that is: HELL YEAH! A decentralised mechanism of payment allowing complete and unanimous control over people’s money and all conducted through a reliable network of delegated computers. Sounds pretty damn good AND fair, right? After the mess various governments have left their country’s finances in after the disastrous banking crash of 2008, this seems like a gift sent from the gods themselves. When people’s morale is at their lowest with those who were deemed in charge of improving and maintaining the well-being of it’s citizens. It seems change is finally upon us, but at what cost?
Recent events show how this new market can be easily “price” manipulated to allow certain self-serving highly ranked individuals to profit from the flock of human sheep playing into their hands. But it’s a familiar tune many of us seasoned users in the space are getting to understand very well. It will still take a good number of years to where our crypto markets will find some level of equilibrium. And even then, the largest influential groups in the world may still hold aloft their swords above our heads, ready to cast it down anytime they see fit. But the playing fields should have evened out by then. It's my stance what cryptocurrency can’t be stopped. It's the "mp3" of money, if you will. Many big players know this only too well and without a doubt, will make the most of “one of the greatest money-spinners of all time”. Please don’t get sucked into what the media say or do. We have to think for ourselves and analyse why certain decisions are made and opinions announced. As long as we see the bigger picture for what it is, there is nothing to worry about and everything to gain. So given the above, my thoughts are as follows:
"Hold on to whatever crypto you have invested. If the price moves down, take it as an opportunity to buy up some more at a better rate. If personal funds prove an issue, just sit back and play the waiting game. There are few chances in one’s life to potentially hit a jackpot on this scale and frittering it away on the spiel of some people’s politically-motivated agendas, may end up costing us big-time. My personal thoughts, but a truth I firmly stand by at the same time."