Crypto Is Changing Fast
The Crypto landscape is changing fast and the corporations and institutions are not here to play along, they are here to dominate and control. That is what the world's system does and that is never going to change. Bitcoin is being thrust into the limelight and it is quite likely that once the supply shock truly hits, ETH will become the next target of choice by the large and powerful.
Most of my current holdings are actually in ETH and not BTC. This was not so much a conscious move but more a matter of necessity that I won't elaborate on now. A significant percentage is also in altcoins, spread across different sectors. However, I have been wondering if this could possibly be the last big bull run for altcoins. The fact that corporations are moving into Bitcoin is great for the BTC price but it also has some very negative consequences.
PayPal is now holding a significant amount of Crypto on behalf of clients and this is not a good thing at all. In essence it is the equivalent of holding funds in a bank account that are directly or indirectly exposed to the Bitcoin price. Crypto holders are unable to withdraw their Crypto, which actually brings an abrupt end to the whole motivation behind the initial concept of Bitcoin and Crypto in general. What many may not realize is that Skrill, a similar service to PayPal have been offering this service for years now. As a smaller company, they did well to get their foot in the door early.
However you choose to look at it, this remains good for price appreciation and adoption but it does hand back the power we worked so hard establish. Financial sovereignty has always been Bitcoin's biggest selling point but that is changing very fast. As regulators seek to clamp down on non-custodial wallets and basically replicate the existing structure into Bitcoin and the Crypto markets, it seems possible that they will work to "promote" a handful of options that they are able to micromanage.
Even though the wider altcoin market may still be very much alive, it is possible that via the powers that be and the media, the attention will be driven towards a "select" group of projects. The institutional money is currently only moving into BTC with a very small percentage taking a riskier approach in ETH. It is possible that the new adopters of Crypto will be firmly steered in a very specific direction.
Still Undecided - I Continue To Process Data
Perhaps this may never happen or perhaps it will, in time to come! At this point in the journey I am still unclear and have not chosen to adopt either scenario. Once I feel I have enough data and evidence to support an idea, I proceed accordingly. At this point I am still undecided and to be honest, would actually appreciate some opinions from the Crypto community.
One needs to try and be unbiased though, simply working with the facts. Even though I am primarily holding alts, I am considering an outcome that may not be in my best interest. It is rather pointless to state that it will never happen due to the fact that you are actually holding alts and are wanting to see your portfolio skyrocket. A clear unbiased mind always performs best in the markets.
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Hi - thanks so much for your visit and generous support of my work. I am still new here so unfortunately my upvote is still powerless. Hope to change that soon!
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I think that's really a very good question. It could well be that the market behaves a little bit differently than it did in 2017. I kind of don't get the feeling that it's quite such a blind event anymore. A little more maturity inside, although still far from the target :D
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The funny thing is, in the last bull market I thought the market would behave differently to the former bull market. I guess we wait and see...
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I would think so aswell, but some thought this in 2017 allready. Maybe we will see similar patters these days... Wait and see ;)
Let's see - Exciting times!
The same can be applied to centralized exchanges, people need to do their own research. There's a problem though, the majority doesn't feel comfortable with being responsible for the security of their assets. It's easier to transfer that obligation to a third party - even if they know the risks.
A lot of effort has to be invested in education regarding Bitcoin and tokenomics in general, and I don't quite think the states have any interest in it. Fun times ahead.
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Yeah, good point! A lot of people would love to hand over the custody issue to a third party, as they do not want the stress or responsibility. It might be a good thing for authentic and original Bitcoiners, as governments will be less strict if the majority of funds are already on third party platforms that they have access to.
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And the fun part is that people actually think they will have it back via law suite HAHA.
Like nope, it doesn't work that way.
The same goes with banks, the fractional reserve system is broken by default and yet again, people don't give a shit haha.
The world we live in is insane, thank god for crypto.
Yeah, it is just crazy!