Let the smear campaigns begin! Imagine the propaganda campaigns of the sixties, the news media using its power to control the common mindset and perception of bitcoin and cryptocurrency. Every SEC announcement, china fud, and advertising ban sends the hodlers running to hide under their desks hitting the sell button before any of the truth can come to light. On one side you have a new decentralized system of financial freedom being given to anyone willing to learn and take a chance. On the other side you have system that wants to stay unchanged and in control by ruling in fear and uncertainty. Both are waiting in arms, weapons poised and ready to strike. Check books open, traders waiting to go short or long, whales accumulating to push the direction they choose, each side declaring the evil of the other and why their side is better and why the other is doomed to fail.
Crypto is getting everything thrown at it right now. A huge shakeout is occurring, the people who did not sell the top, now are having to convert their holdings to pay yearly taxes as their portfolios are barely covering what they owe. The People who did sell the top are acquiring cheap coins and every time the market tries to recover it again hits it resistance. Facebook bans ICO’s! and back down we go, yet we recover. Google bans ICO’s! Yet we recover. Mt. Gox trustee dumps into the market! We hodl strong and recover.
A couple months ago $20,000 earned you 1 BTC and now it gets you almost 3. Hard times for the people who bought the top, but the community comes together and helps each other. Charts are shared, market sentiment is given and the Fud that is shelled out to masses is proven wrong. For every piece of news that attempts to sway the market in the favor of FUD, weak hands are made strong again by the veterans who have been here before. A financial cold war of ideology and systems has begun and as with any change that threatens to shake an established system, you know they are worried about the future when the are using fud and smear campaigns to slow down and halt the progress that is being made.
HODL Strong.
“You never change things by fighting the existing reality.
To change something, build a new model that makes the existing model obsolete.”
― R. Buckminster Fuller
I felt oddly inspired by this post- ready to charge into no-man's-land at the blow of a shrill whistle!
The cryptocurrency market has been a bloodbath for investors, both new and old. I know of far too many people who saw Bitcoin surging up towards $20,000, read all of the "Bitcoin to reach $1,000,000" articles and frantically jumped in, only to lose more than half of what they put in. Market sentiments seems to have more power here than in many other markets, and it can be a scary place to be if you can't afford to lose any more. But it always seems to bounce back, albeit much more gradually this time.
Here's to sitting, hoping and most importantly, HODLing!
Check this game out, look close with an open mind with what this new concept is doing with open source Ethereum ERC-20 smart contracts, decentralized exchange and passive income. The game has passed the crypto kitties game on the Dapp Radar. The smart contract is coded to tax 10% of the ETH. when users purchase the (P)roof (O)f (W)eak (H)ands tokens and divides the ETH. tax to people who are already holding and also 10% of when users sell “20% total”. The name of the game is to hold as long as you can while you get earnings from the constantly taxed “Strong hand” buys and the taxed “weak hand” sells. If you don’t want to play anymore, you can pull out all your earnings all at once but with a 10% tax fee that gets divided to the stronger hands. This is what the ERC-20 smart contract is programed to do. Doesn’t hurt to look at the contracts open source code at least, don’t let the opportunity pass you by.
https://powh.io/?masternode=0x32c37e7ca38be1f85cd9e85c81ac9b6730f43e3e