"Bitcoin and other coins are only good for buying porn and drugs" one man told me.
"Well you can do the same with cash, isn't that why drug dealers and perverts like cash?" I said back to him.
Seriously, we use cash, maybe not as often, but I went to go buy a gallon of milk with cash recently. When someone pulls out cash, we don't care where that cash has been. Whether a club of ill repute or if it is covered with a illegal substance, we tend to think of our money as moral because we expect men to be moral.
Money isn't attached to morality, only action is, money is only a mechanism of value and control, that means you shouldn't have someone peaking over your shoulder snooping on your cash, nonetheless your crypto.
Yes, people will use crypto for bad things. Buy cars are used to smuggle people and guns just as trains and planes, and bad guys use guns, this doesn't mean we outlaw guns and every vehicle on Earth. As the cashless society grows faster, the need for privacy does too. Never feel like you have to justify why you use crypto.
Control of your money is freedom.
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I’m thinking we are in a transition stage right now in the crypto space. We had just Bitcoin for a while, with a few other alt-coins. Several companies publicly embraced bitcoin for payment, which legitimized the space. Bitcoin seems to be running in to trouble with fees and slow transactions. Etherium has had some issues. Bitcoin cash is just not getting the traction.
The transition is the amount of options in the crypto space, I am not sure where it’s going, but it’s fun to watch.
Question Remso, People earn steem and then transfer it into bitcoin to gain liquidity, and then sell that for cash. There are other altcoins that people do this with also. This is because bitcoin has a large buyer base, compared to other coins, so liquidity is there. Do you think this puts downward pressure on coins like bitcoin and Etherium which have more liquidity?
I have heard that people on steem have been able to sell as much as a million in steem, for bitcoin, and then cash it out. If this is true, there could eventually become a liquidity issue. More sellers than buyers, because so many alt-coins are using this model.
Bitcoin seems to be the way to get cash into the market, and one of the only ways out. I just wanted to know your thoughts. I literally communicate with no libertarian/crypto people ever, so peoples opinions in these groups are valuable to me. What are your thoughts on this?
All I can tell you is what I do myself. I invest in the coins that reward their developers and are trying to make the system mainstream for merchants and people who have no clue what this stuff is. So I invest in Bitcoin (solely as a storer of value), Bitcoin Cash (which I would disagree, I think BCH may be the one true "Bitcoin"), Ethereum (because of its innovation in smart contracts and app development ability), Monero (by far the best privacy coin bar none) and I actually do reinvest into Steem.
I also think Dash is gonna drop once the lost coins wind up in the market. Vin Armani and Jeff Berwick from Dollar Vigilante are great on this stuff.
I’ve been buying bitcoin for about 4 years now, and I have never seen this much excitement around all the other stuff in blockchain. I really like what’s going on right now. Everything is still so new, even for myself, someone who is an old timer in this space somehow, just because I’ve been buying for 4 years.
I remember 3 years ago reading articles that the real power will be in blockchain. That it’s the game changer. The real innovation that bitcoin is riding on.
I’m gonna look into Monero more. I only buy the ones I perceive to be liquid, but shit, I’m already in a high risk asset class, why not put 10% of my high risk assets into risked assets, and see what happens!
Any thoughts on some other alt-coins?
I ignore most the others.
Don't forget you can use BTC, BCH, LTC, ETH and STEEM Dollars to buy a signed copy of my book! https://rwmartinez.com/2018/05/27/get-your-exclusive-signed-book-when-you-buy-with-crypto-or-paypal-today/
Your BTC is no doubt cleaner than a Washington...
Verge has become a great private coin however I am unsure if the market reslises it.
Not sure why everyone is still focused on bitcoin it is kind of obselete.