2017 was in many ways the coming out party for Bitcoin and all other crypto currencies. From what I saw it was kind of like the old Pirate days. And the Blockchain was like Tortuga. Everyone and their mother flocked to blockchains and cryptocurrency.
There was massive gains and big losses. It was reminiscent of the big IT or dot.com bubbles.
What we see now in 2018 according to me is a market correcting itself.
And I see a market trying to deal with more scrutiny and the government and big banks trying to control it.
We should not be afraid.
When Goldman Sachs go out and mention publicly that cryptocurrency and peer to peer, decentralization is a threat to the way banks do business. When JP Morgan tries to regulate and steer customers away.
When big banks force Wall street and SEC to input regulations. The wold is scared.
Newcomers to this are afraid and might sell of their bitcoins but if one is looking to make money quick instead of looking at the crazy future possibilities of blockchain one will be left behind.
This is world changing truly, this can change the wold for poor countries, if blockchain technology, when it takes over they have a front row seat to a new economy. Even playing field.
Tim Draper, founder of Draper associates and Stanford graduate, is a trend setter and can move markets. He has thrown his full support behind blockchain and especially bitcoin. He has constantly been on the forefront of markets and financial trends and recently went on CNBC Fast Money and stated that in five years, everyone will be using cryptocurrency only.
He is a smart dude and he claims that this cryptocurrency movement is a slow building ecosystem that is bigger than the internet Age coming out party.
He is a constant trend setter and fortune teller financially that is always so far right. He bought 30 000 BTC from the Marshalls service in 2014 and now has a net worth of $350-500 million. He predicted then correctly that bitcoin would cross 10 000 is three years. Now he predicts Crypto will be used exclusively by governments in five years and is about to come out with another price prediction for bitcoin in April 2018.
I am very eager to hear what he has to say.
In conclusion; I believe that this is world changing and that the rapid gains in equity and value of bitcoin and other currencies drew not only attention but greed. From governments. People where getting rich without governments getting their share, without banks, without wall street. Now what we see according to me is regulations, and rules, banks working against markets and crypto.
To me this is just to catch up.
Not to stop, but to impose rules to be a part of the cake.
We, the Steemians and other blockchain enthusiast, are on to something. World changing and the regular market, FIAT currencies are trying to catch up, but we are actually changing the game.
We actually don't need fiat to control us, FIAT needs us. The moment we could buy a Porsche with bitcoin. We had real value, without banks, governments, and they are trying to catch up.
Five years might be a pipe dream, but what do you guys think ?
Is Tim Draper right?
Not bending their rules its our playing field.
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This is a good post, followed you so keep them coming.