As a short tell of what has happened to me these past few weeks, many great opportunities opened up while grave risks were present in the Fiat monetary system. After having lost big money on Fiat currencies due to the grave manipulations available, the smartest step I took was to enter the cryptocurrency realm. After all, change is forced upon us even if we despise it.
The crypto-world, what is there to say about it? Firstly, I found myself in a free market that it is not influenced by a thousand factors such as inflation, deflation, politics, etc. Take, for example, the precious metals manipulations which saw severe dumping of commodities when the FBI agent was under scrutiny in the US. Living on the other side of the world, such a story seemed blown out of proportion and seriously, I couldn't careless. However, it did play a big role in my day-to-day life which is somewhat eerie. If we truly look at this event from an economic perspective, such a story may be grand in regional America but not to the point that caused mass sell-offs within the market. To me, the fraud was too evident that a few douche bags controlled the money supplies and they have the capacity to alter the entire course of a person's life within hours. It's cruel beyond imagination.
That's not to say I put all my savings in one basket, it just happened so that I had enough to spare for trading. But what changed my life while experiencing a grave downfall was investing in the crypto-world. Honestly, I haven't looked back ever since. It took months to make a mere sum of Fiat money and endless time sitting at the edge of my stool, thrashing through opinions and charts - it's simply unrealistic. I'm now making thrice the previous amounts in shorter time frames and frankly have fewer headaches. Does that mean you should put all your life into the digital world? That's not smart thinking. Nevertheless, looking into digital currencies and starting slowly will certainly make you a free human and put you ahead of the flock who are sinking, depressed and clueless. I've never felt so refreshed to be freed from the clutches of a dying system that's in a coma-state and keeps dragging on with foolishness. What have I learned to date with the crypto-world within this phase?
Let's observe the advantages of cryptocurrencies:
- It's a freemarket and limited as many are yet to learn the digital functionalities.
- You can trade 24/7 and have better insights with greater percentage gains than Fiat markets
- The crypto-world is in its early stages and evolving. Like all new things, resistance is normal at first until it becomes mainstream. Since we are in a technological age, it doesn't make sense to go back in time to re-instate old systems. The world is frankly sick of those tool-heads playing the strings. Crypto's are a people's money and not the elite.
- Great amounts of cash can be made as the number of cryptocurrencies present is astonishing.
- Governments are moving forward to implicate cryptocurrencies into their systems due to their efficiency, removal of the middleman, and simplicity.
- Transaction times take minutes and you can deposit or withdraw into your wallet (crypto bank account) at any time of the day. That's revolutionary in itself.
The disadvantages of cryptocurrencies:
- Exchanges are prone to liquidation at any time just like any brokerage firm is in the Fiat world.
- The elite are catching up and creating their own cryptocurrencies i.e. Zcash. This spells the start of troubles for the crypto-world but nevertheless, their control is not as stringent as it will be in the Fiat spheres.
- Markets can be volatile at any moment and there are no 'Plunge Protection Teams' available to prevent large dips.
- Much research is needed before going forward to invest your money in the future of any currency.
- The risks of currencies phasing out is much more possible than a currency phase-out in the Fiat world. There are no governments behind such currencies and this makes them possible to be obsolete in no time.
- At times, you're only bets are a gut-instinct to go forward with not much information available at hand.
- You require a lot of patience and there are times of silence for days until big moves strike hard.
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Smart analysis, thx
I wish i could join the cryptocurrency one year ago
Thanks @Mikeyue You can still do it today it's not too late.
Go to www.coinbase.com and buy your first crypto's.
After that, sign into a coin exchange such as bittrex.com and do a little research into how to use both sites on Youtube.
Agree, must work harder
What is your forecast on bitcoin and ether price next year ?