I've tried to get my parents to invest into crypto. By doing that you'll get though questions, many of which are psychologically related. "You can't touch Bitcoin." "Can you touch shares?"etc. I'll expand on that later on.
are we in a bubble?
If you follow Clif High you'll know that there is no bubble simply because the market is not saturated. But that doesn't deter idiots from warning it could because you never know! Right.
Crypto is a form of smart money which you can do more with than a bank can offer. Smart contracts, escrow you name it. You can reduce the risk and increase transparency or if you want to go black you could use Monero. That's what makes crypto valuable. Period.
But when Bitcoin is on the front cover of the newspapers then that's something. Is there going to be volatility when a big contender like Bitcoin cash tries to uncrown the world's first cryptocurrency? If only facts would matter then that would certainly be the case some time ago!
bitcoin and the government
As you can see bans or bad news has had little effect in the long term for Bitcoin. However the question is how much longer are we going to see exchanges which offer to sell fiat for crypto. If you handle fiat you are bound by the law because as I see it fiat money doesn't belong to you per sé, it is an I-owe-you (IOY). Anything that touches the legal world gets infected. Just as with the GPL, it's viral. And this is important. You think you want a company? Now the state owns your ass. Same goes for fiat. It's theirs not yours. Your just the tenant.
Of course you can always meet up with people and exchange whatever you want. You then just have to think about doing it safely and securely.
fiat exchanges
The fact that many exchanges offer just Bitcoin for fiat as the gateway to crypto, when there is a problem with Bitcoin like the big transfer costs (I paid $15 ) then that could be a hurdle to adoption. Therefore I think Bitcoin's price in USD is going to increase more because now it's just seen as digital gold without the market manipulation. It's more handy to send Bitcoin then gold, a fact which people like the health ranger Mike Adams don't seem to get, yet they seem to think that if they are smart they can apply it to everything. Maybe he should smoke some organic cannabis, what do you guys think? But mind you it's always good to get your information from multiple angles.
psychology of the masses
As with anything new it takes time for people to comprehend. And there are a lot of people who think they know but they don't. And some never will. Like they are put in place on purpouse. But of course that's just a conspiracy theory. Nobody will admit manipulating information for their benefit will they? And when there are actors who believe in what they are doing, why not let them go ahead? And throw them a bone or two to keep them busy.
As with everything, the new beats the old eventually but you know your parents are old too and if they cling onto their fiat.
sources:
I've been trying to explain cryptocurrency to my friends, but to no avail.
It is a shame about Mike Adams fear of crypto, he may be right, but the inherent value, of the various aspects of the various coins, in the function of cryptocurrency is difficult to explain to the uninitiated. I think it could go either way depending on how much of an overreaction there is from the controllers.
How goes the use of the pulser? Good results, I hope.
cryptocurrency will win in the long term compared to fiat. I suppose it maybe likely be bitcoin leading the charge but I have my reservations. To your end point exactly how I feel. Let the government continue to badger and do in fights between one another while what they hold, the all mighty dollar, will in fact in the long run become worthless. The young people must push crypto into the light by supporting it and making progress in the sector, not just investing money into it but learn coding, understand the mechanics of blockchain and other tools crypto has to offer. This is the future and we do not have to wait for others to tell us otherwise.
Bitcoin is not in a bubble because you cannot have a bubble BEFORE Wall Street (and the banksters) arrive. They are the ones who create bubbles.
Many claim bitcoin is too expensive and too slow. No it is not. Yes when compared to Visa for a cup of coffee, that is true. Yet credit/debit card transactions in the US account for only 3% of the total money transferred. 80% of it goes through the banking system. Why do companies send payroll in on Wed? So it is in people's accounts by Friday? That is almost two days. And what does Paychex charge? 2%? 4%? A lot more than the 20000 satoshi bitcoin costs.
Finally, Wall Street is entering this market and bitcoin is their darling. A great deal of that money will find bitcoin. In the end, the fact it is so well known only means that it will get more funding.
This is a great post...thanks @nutela.
The only guarantee bitcoin needs is the speed of it. Take Uber, Airbnb, Paypal etc. They were very fast to worth billions and before governments can do anything about them, they became the norm. This is the case with btc now. It takes mere days to jump 1000$+! So i don't see any barrier to make this "bubble" pop.
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