In the past I've written about my story onhow I got started with Bitcoin and in that story I shared the incident of my email account being hacked and the losses thereafter.
Ofcourse it was decade ago and my losses weren't directly cryptocurrency related but it was scary nonetheless. The possibility that this can reoccur exists. But ofcourse, we can secure our email and trading accounts to higher levels of security today than it was possible 10 years ago!
In the past couple of years however, my investments in cryptocurrencies have grown tremendously. I'm sure it's the same with any other crypto investor in this space owing to constant upward trending market in the year behind us. I'm constantly looking for interesting new projects to invest in in addition to increase my stake on Steemit.
Sometimes I worry about government policies because I live in a country where the government can take a radical step without consulting the masses at any given point in time. It's not as bad as in other countries but our closed economy and banking system is worrisome-atleast for me.
Recent government crackdown on cryptocurrencies have fuelled FUD across the globe. You see panic selling noobs every single day. But that's commonplace in market of high-risk and high-yield.
I've observed the market long enough to understand that these situations are dynamic. Markets are constantly evolving to the changes in policies. Government policies changes by the week and the issues of today are nothing compared to the issues of the future.
In the past cryptocurrencies have faced several hurdles and have overcome them to reach current valuations. No market sustains an upward trend without a regular period of consolidation/correction. It's only natural. But these times brings out our deepest fears. Price volatility aside what worries you about investing in the cryptocurrency market?
- Are you heavily invested in cryptocurrencies?
- What are you major concerns as a user/investor?
- Are you worried of hacks, exchanges disappearing overnight, ban on bitcoin or cryptocurrency trading or any other?
If you like my work kindly resteem it to your friends. You may also continue reading my recent posts which might interest you:
- My Past Year On Steemit—Quick Recap of 2017!
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Thanks for this post @firepower, glad to know there are a lot of us worried about losing our cryptos!
I worry about how to get it out without our government trying to "tax" half of the money. It's all good and well to have this amazing portfolio of cryptos but to actually be able to use it is still a bit of a mystery to me.
I do have a wonderful friend @sebastianjago who has been guiding me, so between his advice and steem bloggers like you I am learning LOTS!! :)
I'm most afraid that cryptos will be completely banned. Not only from a economical perspective but also in the sense of which direction the world is going. It would mean a more decentralized and controlled future for all of us in every aspect of society.
I try to raise awareness about cryptos and trading. Hope I can provide some value to you guys. Just posted an update on different coins and present price paths etc.
IMPORTANT Coin Updates (BTC, ADA, BTS, EMC2, ETC, GNT, SBD, STEEM, XVG)
https://steemit.com/bitcoin/@benkalashnikov/important-coin-updates-btc-ada-bts-emc2-etc-gnt-sbd-steem-xvg
I think same about it
many countries will soon start to issue their own cryptocurrency. blockchain is the future
In my opinion, there is nothing to be afraid of! This world we live in is not a static thing... It is dynamic! And always changing! This crypto madness is the change! Money is changing! And this is the future! SO I can congratulate you all who are in the future now, while a lot of people with their disbelief are still stagnating in the past...
Fear is fake, it is built by humans themselves. If you fear something, you will stop you from progress.
For an example. You are in a dangerous situation where you should quickly step one step to your right... And it's a matter of life or death.
In fear, you would be unable to move!
In fear, everything stops and you fail to operate.
If you keep yourself cool and mindful at all times, even if such a scenario plays out... You would be able to make that one step to the right and keep on living! :)
Have a great day everyone!
Are you heavily invested in cryptocurrencies?
Yea, 90% on my investments are in various coins.
What are you major concerns as a user/investor?
My major concern is a governmental crackdown that makes transactions to fiat illegal across the globe.
Are you worried of hacks, exchanges disappearing overnight, ban on bitcoin or cryptocurrency trading or any other?
I'm not worried about exchanges getting hacked because I hold 95% of my crypto in my hardware wallets, but I do fear bans. I would rather it not be relegated to strictly black markets, but I think the public backlash would be too great for the government to try it.
Wouldn't be surprised if they banned it tbh, they wouldn't be able to enforce it though really. Would they take millions of people to court? lol Might arrest the bigger holders to make a statement but there would be riots in the street I think.
I’m worried that I’ll do something stupid with my private keys.
That’s about it.
Yes, many governments will play hardball. But they will lose.
There’s a reason that governments fear distributed ledger technology.
That´s easy: dishonesty. I´m afraid, that most of the devs and crypto CEOs are fraud, who believe so much into their own BS, that they even forget that they are fraud. This is what my nightmares are made of. :D
I guess the real threat to the people nowadays is being with a cryptocurrency with no real life value, some crytpos and ICO's are just like high school science projects with no substance backing it up ... good that we are in Steemit at least we have Steem, one cryptocurrency that we can count on for life. :)
Hey @arnel,
The price of bitcoin is now around 11200Usd and i want to invest in one of the crypto currencies. So please tell me which coin is best
@aneesulhassen Obviously Steem. With SMT's on the horizon we are sure to get to top 10 market cap. I only know to use blocktrades to get steem. Would prefer to buy with usd
Can't you purchase steem right here
Not from esteem, I only know how to get it via blocktrades
I am looking to invest long term with Stellar Lumens... I think it has long term value and the management behind it have also great credentials. If Ripple is for banks and big corporations, Stellar is for those who like decentralized money transfer transactions. The tech behind it is the same with Ripple but it is more for the people not just for the moneyed.
1:Are you heavily invested in cryptocurrencies?
My answers no but what i invested its mean alot to me...
2:What are you major concerns as a user/investor?
My issue is exactly the same as yours
Are you worried of hacks, exchanges disappearing overnight, ban on bitcoin or cryptocurrency trading or any other?
A little bit specially worry about steem always thinking today about if the steem down and goes 1$ :(
Steem might go down, but it’s a solid crypto filling an actual usecase. It’ll go back up to higher highs :)
Scared Is it going to the end of crypto...?
Bitcoin's plunged on Tuesday falling to $10,300 ::: the lowest value the currency has seen in 2018
Not only Steem or Bitcoin Today All the majority of the cryptocurrencies going down and down and still down..
China already banned trade of crypto..
Russia has a similar idea.
South Korea has triggered a panic sell off of the digital currencies.
what is next ?
I’m holding tight. I’ll either ride this ship to the ocean floor or blast off to the moon!
Me too. Stocking up on the good coins.
Yes heavily invested, but no worries about fiat, it's about to die anyway. There's always the local bitcoins idea and gold and silver. Best things is bitUSD on BitShares, now if I would sell sooner and buy later... :D
i am courious how tokenpay will do when it hits the exchanges. probabely more than very well. they will have their own bank and payment card
I'd need to get into that info to answer with any credibility...
At some point there was an article posted which had a headline saying "It's not the cryptocurrencies booming, it's fiat in freefall". In corrections like this one I sometimes think that in the future one btc satoshi could be an equivalent of 1 cent (just an arbitrary number, pick whatever you like). In a way it helps you switch your mind from thinking about fiat as the main form of exchange and you start seeing things from a very different angle.
Well, I wouldn't say freefall because had I left my EOS in bitUSD instead of BTS I would've been able to buy BTS @ $0.33-$0.22...
I work full time in cryptos, so yes I am heavily invested time wise. My biggest fear is for sure the failure of cryptos due to governments trying to crack down on them, even though I do not think that could happen!
Blockchain is a solid technology. The government will snatch it as long as it competes with its sole power, which is the power to issue currencies.
That's why I like STEEM. It is not competing with the governments but just filling a gap on social media, creating a model that benefits everyone instead of the big names like FB GOOG.
That we didn't grow yet! And cryptocuriences won't change world for better, beacuse we are affraid to take responsibility. So we can do much more and much better same shit, but now with cryptos... we will see.
My biggest concern by far is that investors and supporters of alternative systems have been superseded by speculators who have driven the price up. As fast as the price has been driven up, it can also crash back down to earth, taking out many latecomers to the market. This will potentially put people off crypto's for life and give them a bad name.
I'm not a fan of bitcoin, I think it has some fundamental problems, but the blockchain and hashgraph are game changing technologies that will change the way we do business in the future.
Overall volatility is my biggest worry. If I were to put a significant portion of my money into crypto where could I put my rainy day money?
If I put it into any set of cryptos out there I’d be down 20% some days, up 20% on others. This is all well and good but I’d like to see a more stable crypto created. Although with this low of a market cap it likely isn’t possible. It’s still early days and there’s still a lot of marketcap left to gain!
Very coin going down right now do you know what going on ?
makes me think that is the wolves of Chicago Exchange that are responsabe for this correction
govt banning cryptocurrencies and bringing their own ones
What scares me the most is Government
I guess I am most worried that we will enter a multi year bear market because I really dont want to wait years to see a return. My patience gets thin fast.
Simply Put controlling government crackdown. Its more present then ever how much control a few people in governments have over billions of people and it just is not right.
BTC Back to zero and it pulling everything down & Blockfolio total shows zero.
I hope we survive the crypto bubble blast & probably the blast below never happens and peace & prosperity reign!
Actually don't know much about cryptocurrency and investing. I only have about 15$ worth of ETN in my account. Looking at my current value.. 15$ is a lot of investment for me. Could be different for every other person.
I don't understand the fundamentals of trading yet, i hope i don't lose some or all my money.
Everyone should be worried of been hacked cyber crime is increasing everyday, if a top government data could be stolen, am not sure i stand a chance. Am sure cryptocurrency will be around for a long time though.. But i can't say the same about exchanges!
Thank You
thats why blockchain is necessary. and even the governments know that
@firepower Government regulation and exchanges disappearing overnight are my main concerns for the future.
Yeh there are waaaaaay too many exchanges
Bitcoin is dying and its dragging the entire market down with it. The markets are literally joined at the hip with BTC, and when BTC falls because people have realized how slow and unreliable it is, the larger market ( the new money, people who have been in the game for less than 5 months) panics as they believe that bitcoin IS the market, and if bitcoin fails, then everything else does. This is part of the issue when people like Warren Buffett go on record saying that "Bitcoin is a bubble and will burst" That part is true, for the most part, not many people are willing to pay $36 for a transaction, especially one that takes an hour or more to confirm, and even more so when the developers make little attempt to fix the BTC network -
But when everyday people hear things like this is causes a massive amount of irrational fear...coupled with news from South Korea which was false, as well as news from traditional outlets that claim the market and Bitcoin are constantly dying. We risk going into a free fall in prices within the next few weeks if people don't stop spreading false information. The market dropped by 30% just on false news and an assumption that Korea MIGHT POSSIBLY COULD BE MAYBE be banned from the markets. What would happen if over a 3 day period Fox News and CNN falsely reported that "Bitcoin" was going to be banned in the US, without any proper sources to back it up? The market would implode all based on a rumour. This is why its VERY important to not follow false channels, or people looking to hype coins, its causing the market to expand in a direction that it shouldnt be going, which is the hype, pump, dump and the market is burning scenarios. This has a lasting effect on the human mind, and we'll pay for it eventually.
I don't necessarily agree. I don't think the price is dropping solely because those so-called banning news. Recall over the weekend, there was a rumor that came out about banning and then was quickly denied. If BTC had the momentum, it would have shot up past its previous resistance once the banning news was denied. Instead, it keeps on making lower and lower lows. It's just textbook type technical indicators flashing red signs.
See below. I have written a long comment as well. I think the futures market was done in purpose to snatch the pricing power from the exchanges to the banksters.
Yeah Bitcoin dying I can't agree at all laugh at this post love the way to the bank next week after buying the dip Bitcoin has just begun buddy
Of course the bubble will inevitably burst and destroy any projects without sufficient action behind their blockchain. This does likely mean the death of the most original coin chain software Bitcoin, people still know the blockchain is where the money is at, we will still attach value to digital assets in order to trade them in as free a market as has ever existed before.
I don't think any single government can quench the flames of cryptocurrency...I ain't gat no fear for that...I guess my only fear is making bad trading choices. It'll be disastrous if i invest in a coin and see it drop -200% the next morning.
Most afraid of my money floating in limbo.... crypto is an asset but until you actually get your hands on that FIAT, then you don't have much of anything, in my opinion
the cheaters, the people who don't earn anything through their effort or intelligence!!! 🤬 🤯
Basically all coins are going down right now we just have to hold not to loose profit
If you are afraid to invest in cryptos, it will be because you do not do your job well, study, read and advise ... Change the fear by experience ... good post
As long as you make mistakes in the world of Cryptocurrencies, you are still human, but hope to do something better
As of now I can say my hands are a bit shaky. But I know for long term I have to see past this. The biggest thing I worry about is not reaching my goals. I have set my goals high as I always do but it is that fear of not meeting them that drives me. I have come from nothing so the only thing I can do is move forward.
I sold around 3 months ago partly due to some advice I got and because of panic, spent all the profit. Everything is in steem, though I do use eth and trade on blocktrades for steem with as little money as I can scrape together after end of month bills. Steem will hit 50$ this year, 5x increase plus if you SMT you'll have attached value to a digital asset something very few people in Earth's history have ever been able to do.
I really like your posts I hope my future will be able to rise better @firepower
I am a moderate investors, I invested a small sum in the past which now is worth a lot more.
What worries me the most is if for some reason, the demand for cryptocurrencies suddenly decreases a lot, a big number of people will be left with digital assets that no one wants, hence not valuable.
(Not talking about todays dip, an actual permanent loss of interest by the population towards the cryptocurrencies.)
https://steemit.com/bitcoin/@uzay/how-can-positions-be-taken-for-bitcoin-in-2018
Goverment can't stop crypto
Hi there ! really great subject to debate about !
For me its my country and its regulation rules .... I posted an article about it if you want to have a look , our président just "hired" a former banker to become the french bitcoin terminator and he is going to submit his ideas on G20 .....
........
OMG. I read the headline earlier today and apparently I interprated it wrong...
So stupid of me that I didn’t take the time to read the entire article.. :-/
Are you heavily invested in cryptocurrencies? Yes
What are you major concerns as a user/investor? The security of my investments and the long term success of this projects
Are you worried of hacks, exchanges disappearing overnight, ban on bitcoin or cryptocurrency trading or any other? I am, especially about the hackings. But I am not worried about bans because I believe this technology cannot be stopped no matter what
Wow!!! It's advisable to secure you email and password, hackers are all over the place looking who will fall victim.. Just last week the hacked my friends account.. The post helped to inform people your experience and what the can possibly expect if the lack wiseness
Buena publicación, esto me llama la atención cuando mencionas sobre tu país que el gobierno puede dar un paso radical, aquí en mi país es igual, el gobierno hace lo que le da la gana, tiene todos los poderes secuestrados para el, muy buena publicación muy interesante, esterare pendiente de tus próximas publicaciones hare una visita por tu post, gracias por compartir con toda la familia Steemit
Again great post beautiful presented and explained.
Plan and buy jiocoin (if it launches), which will be definitely allowed by the government ...
Crypto is the future. Nothing can stop it!
I haven't been in the crypto space for very long but i've been here long enough to know that market correction happens and when the market recovers it goes higher than its former state. I believe everyone who have been into crypto for some time will be able to keep themselves from panick sells.
I'm really surprised about what's happening in India right now. I had visions of the government embracing cryptocurrency as a way to lift up the masses. Now wouldn't that be a wonderful surprise? Leaders that actually think of enriching the people instead of themselves.
source
Withdraw or HODL crypto.. 💰 of Im one of those invested thousands of dollars in crypto I will be more carefull and smart enough as hackers now are looking at the amount of our crypto figures..
Government regulations, exchanges delisting coins we're holding and possible disappearance of the exchanges too are my major fears.
But do i care? Hell no!
My biggest fear is increasingly strict government control of the off-ramping mechanisms. It's going to be difficult to control the blockchain because it's decentralized but the faucet to/from fiat will be more easily controlled. Until you can pay for everything with crypto directly it will have to be converted to fiat to some degree to be of any value.
I am afraid of the taxes which are still not clear in India and how much we should pay for it.
Hacking and exchanges disappearing overnight are some of my main concerns as is related to crypto currencies.
My greatest concern will definitely be the intervention of government and their narrow policies. However, I think this area has moved forward to a stage where it can withstand such as situation. More and more alternatives will occur and masses will move towards adopting something radical.