During a recent therapy session... no...I didn't start therapy due to my crypto currency obsession...I was discussing how I had been investing in bitcoin for a few years... had pooled a decent return on my investment...and now found myself a bit too involved daily worrying whether to sell or hold out of fear of losing what I had built up....in fact...it was triggering a lot of age old anxieties in my pursuit to find "security" with wealth and help other family members who are also struggling to make ends meet....
My therapist...who like me is close to retirement age...said out loud..."if it were me....I would sell"....
Fortunately...I'm not him...if I were...I wouldn't have hung in during all the turbulent times waiting for this blockchain stuff to evolve and gain greater investor acceptance...I wouldn't have reached the point where I went from almost nothing to lose to having more than I would want to lose...
Don't get me wrong....I get it...a lot of people see this stuff as hokey pokey....make believe...digital trickery..."its not real....its a scam...its a bubble"....but as I pondered driving home from my appointment...who says it isn't real?
You see...I came to the conclusion if enough people think its real....then it is....at least to them...face it...a lot of the skeptics think the savings account they have at the local bank branch is real...they assume its "stuffed" with their money just waiting in case they need to withdraw it...they think the stocks they own in their retirement accounts are "real"...after all...aren't they backed up by a "real company" that does "real things" and valued daily by real stock market traders?... Isn't that gold bullion sitting in their vaults "real"....After all...its shiny....makes fine jewelry...takes a lot to get it out of the ground...and for thousands of years people have been told how special it is...and by the way...it has "real' gold traders telling us what its worth on a daily basis....same could be said for the many gems that exist...
And what makes a "collectible....collectible?" Because its scarce...."treasured"....and enough people want it to make it valuable?
So if I and a few million other people around the world look at crypto currency has having some or all of the qualities mentioned above....and are willing to put our money where our mouths are....then it becomes real....
Add to that a "boomer" generation coming into power....having lived through their young adult years....protesting....experimenting....questioning authority....disgusted with today's paralyzed governmental structure......suddenly igniting those lost emotions and sending a silent message with each coin they purchase... which leads to the underpinnings of an emerging new society less dependent on a centralized power structure and more dependent on personal independence...."Country of Crypto" anyone?
Couple that with this new age of connected technology...face time replacing face to face time...the constant stream of video games or video interruptions stimulating us daily...and a "currency" that offers the excitement of "Cruz Ball"...(an old "Genesis" game system game I got hooked on) ....and you have the perfect worm hole into a new reality...."Yes Virginia....there is a Santa Claus"....
I'm on the side of the crypto market over all. Let the market figure out the best coin to trade.
100% agreed
No doubt it will...thanks.
I think there is quite a bit of disillusionment surrounding BTC, who actually controls it, how vulnerable it is and how the market it pretty much way to Top heavy at the moment.
https://steemit.com/bitcoin/@pawsdog/is-bitcoin-really-decentralized-or-are-we-being-led-like-lambs-to-the-slaughter
@pawsdog
Ur point is correct, as people investing money in BTC actually does not know the underlying blockchain technology. Most of people are in state of FOMO( fear of missing out) so they are investing and now institution money coming in like CME or CBOE this year and next year, institutional money is trading and making it high volatile. However as a true believer in technology and long term it is worth. As always 90 % people lose in trading and long term investors outperform them in all way.
About the control it is decentralised but not very decentralised as 20-30 big players are involved heavily and as long as their pocket is being filled they will keep the network stable but thing like Bitcoin Cash they will try to switch sides as miner loves only money at the end of the day. So it is still very early how far the BTC goes. But in overall Science behind is innovative and lot of project are awsome in this field.
This is why a currency like Verge will succeed🙏
Scary points but true...I guess every system no matter how "decentralized" has dependence on someone or something.
Yeah there will always be a gate keeper/s to everything. Where there is power to have there will be people to grab them. Yet I think the opportunities in crypto gives everyone a better chance in life. This may not mean it is fully "decentralized" but at least the spread of wealth has better chance to reaching countries that may never had the chance to prosper with fiat.
I also agree. Everything at some point is hijacked.
Very true... I just try and look at the situation from the financial perspective of the miners.
Nice comment and yes at the end of the day it all comes down to business for the miners.
is real bitcoin
Oh so true , My Dad and I agreed to invest only what we willing to lose. Now it has grown above what I was willing to risk . Before no stress now I think about it more.
Days like today are a real test...Good luck in your choices.
Wow. I understand what you are saying oh too well. I bought some bitcoins back in the day and I have been trying to find which computer I saved the wallet to. I am totally racking my brain to hope I find what could possibly turned my families's situation around. Back then I got some on a whelm of what I could afford, but the bad thing was that I was not into it like I am now. Oh, it is definitely those moments that you look back and wish that you had done somethings differently all because of not trusting that gut feeling. I wish I would have been like you and pressed on. Well I am trying now to chose the right waves this time. Thanks for the post, it really makes one think about true decisions. Now I am trying to be on top of everything and paying other people no attention.
Believe me...I ignored my "voice" many times over the years...
I certainly hope you find that computer...
See the proof of my bitcoin cloud mining contract in the bellow link.
https://steemit.com/bitcoin/@pvhittalamni/how-successful-bitcoin-cloud-mining-is
Hope you believe now. Anyway as some people say only invest what you are prepared to loose to be on safe side.
Congrats and good advice.
right bro
hi
I feel Bitcoin is in speculator territory as it’s price rise has been nothing less than spectacular.
These kind of price rise could be noted in IT stocks in the 97 - 2001 period and banking and financial stocks 2004 - 2008 aptly called irrational exuberance by the then fed reserve chairman Mr. Alan Greenspan.
After the speculator market is over a more mature market tends to take its place where more sensible metrics is used to value the true worth of the currency.
I feel Bitcoin is now in fantasy land and a more realistic market is yet some time away.
You could very well be correct...I don't own much bitcoin....use it mostly to trade other altcoins which I realize are most likely more speculative in some ways...but...the market is less about real life use and more about how many people want to buy in....
I think crypto is just a more efficient system than the centralized currency that precedes it. I don't think Bitcoin will, unless there are significant changes made to the software, but other coins can easily handle the economies that are currently running on fiat and do so more efficiently.
Reminds me of investing in penny stocks years ago. Throw a $100 at something and forget about it... until it moons! Then you worry. When you say "I came to the conclusion if enough people think its real....then it is" it made me think of Santa Claus. Season's Greetings!
To you as well...wouldn't surprise me if Santa had his own blockchain...
I'm certain he does!
Der Weg ist das Ziel!
Das Ziel ist eine Vater Morgana!
Im Ziel ist vor dem Ziel!
Alle Wege haben Steine /Kreuzungen/Ampeln /Baustellen/sonstige Überraschungen! ist das Zielobjekt ein Wurmloch/ schwarzer Riese/
Fragen über Fragen!
I agree Bob. I touched on some of these same points in my article "Bitcoin is not a bubble" (https://steemit.com/bitcoin/@komickaze/bitcoin-is-not-a-bubble). The naysayers just don't understand it.
Thanks for pointing that out...read & upvoted...
true - well this proves who the real satoshi is
https://steemit.com/bitcoin/@pangopango/szaboshi-nickamoto-a-clue-in-the-satoshi-nakamoto-mystery
Amazing what mathematical analysis can produce...fascinating hypothesis.
I am intrigued by this analysis!
IMO it just beggining, and everything will move. But blockchain will exist for sure
I can see that as well....
I mean no fiat currency is "real" anyway, it's all a belief system. I think it was smart of you to understand the technology behind cryptocurrency and to keep investing in it. For those that believe its bound to crash...so is the dollar but i dont see anyone complaining about that
As you say...it's people's trust that make it real...
your nice post i like this post
Thank you.
I think that it's all a bubble ran by some group. The market will fluctuate like always and whenever the owners or the people running it get tired of it or get their desired payout. They'll sell and the bitcoin hype will pop. Although I could still be entirely wrong.
Anything is possible although it appears the blockchain concept is a long term reality...
Fantasy side... But I still put every money I can on it!
Love it...thanks.
Hey there Bob - Bitcoin was a proof of concept for a new technology - Blockchain. Blockchain is here to stay, like another commenter said.
But bitcoin, I'm not so sure. Of course I have a bit in my portfolio, but these 'alts' with real use-cases are the future. I see no good usecase for bitcoin other than it was the first and no one can decide (precisely as you ask) if this is all real or not.
Going to follow you for more of your thoughts - see what you do around here ;p
Appreciate your input as well...I agree on bitcoin...but every time it seems ready to be put out to pasture...it seems to find a life of its own...sometimes I wonder if some big power is behind it all? I imagine the exchanges and miners have a lot at stake to keep it viable...and if nothing else...maybe it is good to keep it around as the "anchor" to everything else...
It has support - agreed, keep it in your portfolio - but be ready to keep milking that beautiful cow and putting it in ripe alternative opportunities ;p
There are still people who say that the BTC is not real but I think the opposite since its consolidation in the market demonstrates the opposite
Not sure what you mean by "consolidation in the market?"
nice post @bobreedo
Thank you.
nice one bro.... checkout my post on bitcoin mining too
Thanks...will do.
I believe in the use case of crypto and blockchain, due to many hyip it makes the reputation of crypto goes a bit diluted
True...the hype gets extreme...but its the way social media works these days for everything...meanwhile...bitcoin just keeps chugging along...
One big problem with bitcoin is that it hasn't done much to address inequality. Several people have made fortunes, others who didn't buy in are feeling left out, and some people are just hearing about it now. I would like to see an "equality coin" (terrible name) that is given to everyone so that everyone can participate in a new economy from scratch. I feel like I've missed opportunity to make dollars, but what I really want is a new and fair economy. We should be working to obsolete the current debt-fueled government/military industrial complex and central banks.
If you are just in it to make dollars, which is what most people are buying bitcoin for (to speculate and make dollars) then the technology will take a long time to become mainstream and you will be on the hook for taxes. It was just remain a vehicle for speculation and could gain or lose trading value based on what people are choosing to invest in. A coin that is given to everyone might fast-track the process toward a new economy of voluntary participation and also address inequality. The possibility of this happening is probably a few years off or even many, but it would do wonders for the mass adoption of blockchain to create a new economy. People are slow to change and addicted to their old habits and addicted to dollars more than anything. It may take a period of great crisis to truly see an end to the military industrial complex, wars, and central banks, but we have at least done our children the service of providing them an economic alternative to government notes. A newborn child should not have to pay for the debt created by his country's past wars and irresponsibility.
Valid points and a nice hope to have...Thanks.
https://steemit.com/crypto/@survivofit/a-historical-perspective-on-the-true-nature-of-bitcoin
I hear you bob, cryptocurrency is changing the world, but maybe also read my article I linked above to get another perspective on the Bitcoin project. It will go up, but we need to understand why, and to whose benefit, truly.
Interesting history of finances and point made at end is something to consider.
great information about bitcoin. and crypto market over the world.. thanks for sharig this post.
You are welcome.
I think it all really depends on how we make use of these coins, so maybe it’s about finding a new way to trade with small business and create economic value.
Very good point...I have no doubt that will happen in time assuming this technology survives.
As for BTC, I'm sitting on the fence so hard that the fence is inside of me.
As for Cryto then reality.
I get it....but whether I think bitcoin is a real long term option or not....I've learned not to stand in the way of the stampede....
Also on the crypto side, at least for now as this unbelievable market boom continues to make millionaires by the minute it seems.. ok that may be a bit of a hyperbole, but I mean just look at BTC go and all of these other blockchain technologies follow in the footsteps of the big bahemoth.... Nice post here, giving a follow bc I like your content
Thank you...today as as example...this market is almost scary...exploding a bit once again...it's what a lot of us had been suggesting for a while now...just wait till the "regular" folks come on board...
As far as BTC goes....as someone's post recently reminded me...whether it's an old dog or not....it's still the coin most trades go thru...
Yes, the market is once again up as BTC is up around 12,000 and other currencies not too slow to follow... As more and more folks begin to hear about this bullish trend, then they are going to jump on board simply based on the fear of missing out... Do you have any thoughts on whether or not there will be a hard fork based on the current Bitcoin scaling issue ??
Bitcoin is really.
Certainly is right now...
Like your attitude of thinking. Might as well by the therapist for your therapist. There is nothing real in our bank accounts as much as those bitcoins. They are all just numbers. Yet as more people accept them as norm the more valued they become. Those who are none believers or haters will bound to join in this systematical grow of cryptocurrency and the demise of fiat. Reason being crypto has real eccentric value while fiat literally is just a promise. When the time comes where promises can not be kept, crypto will be prime to replace fiat. It is not a question if government backed dollar will fail but a question of when. The government debt keeps rising and the fiat currency is fed off of debt. This can not go on forever.
With all the tribulations and scams within bitcoin and altcoins, it is still worth the investment because you and many steemians know the dollar is not any safer.
Glad it connected...it's certainly the way I see things going...
I am Sarah from Algeria and interested in traditional Algerian clothes. I hope you will take care of my special page. Thank you
Thank you for introducing yourself Sarah from Algeria.
Crypto is a scary place to be but my bet anyone who has been on the forefront of a truly disruptive change has the same feelings of trepidation. One thing I feel confident about, is our financial markets in their current form are fatally flawed and need to evolve to keep up. I worry almost as much that the $ will fail as I do that the bottom may fall out of bitcoin. At this point, even if it is a crap shoot, I would rather be on the side of progress and change for the good. Whats the worst that can happen?
I'm with you...
is reall
Yes...for now for sure...
I believe this is the greatest opportunity for the transfer of wealth from evil corrupt old money to a new gerneration of souls who are spiritually being awakened to,the cruelties of empires and being awakend to our need to create a better world......Those of us who dream about changing the social climate around our world are involved in this great revolution of wealth transfer.....God bless😇😇😇😇
Powerful thought....thanks.
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Im standing for crypto all in all. But if i were you i would set GOALS when you get involved with all yourself to crypto.
Trying...goal was to ride it to the end of the rainbow...but I find it harder to hold on with each climb up...thanks...
Country of Crypto- Love it, I'm in! #teamBTC
Welcome....
Many people are confused what #BITCOIN really is. Though for the past 6 months if you have invested on bitcoins. Surely you are smiling right now. Our Government (Philippines) is discouraging people to invest on this one and encourage people to invest on Time Deposits and Banks. The downside on Banks is low-interest rates. But on Bitcoin, I and my fellow earned Php 3000 in just 3 weeks time which bank will never provide to you. So GO GO GO BITCOIN. #COINS.PH
No doubt people buy bitcoin in hopes of making a big profit...especially since bank interest rates have been so low...
I am not overly obsessed by the bitcoin or any coin, I will use an asset that will fit the best to me.
Good thinking...
thanks bobreedo but why you reduce voting power by upvote me
Bitcoin has really made online marketing simple now a days
That it has...
You’ve summed up exactly how I feel, only difference is I feel I’m behind the 8 ball,
I haven’t been into crypto, know nothing about crypto, but for powers of what ever,
It has got me here to this community who have supplied me with an overwhelming
amount of info and inspiration and given me hope. Thank you
We all start at the same place...if you have a little to invest...try and do it..it is exhilarating...if this survives its still a good time I think it get in as the majority of world is still on the outside looking in...good luck.
Sounds like a smart investment...