Back when I learned about Bitcoin,to me, it was an exciting new technology. No one had control over it and I can freely control my money without a middle man. The idea and purpose of Bitcoin is what drove my interest in it. I soon learned about other cryptocurrencies that were doing great things in this space as well. I bought with what little money I had what I could in the Crypto's that vision I genuinely liked.
In the past month or so we have seen Bitcoin and most Cryptocurrencies reach all time highs in market cap and price. We have seen people from all walks of life on the crypto wagon, and while I can see the benefits of this; I can also see a problem with this. We have seen Crypto highlighted in some mainstream media,by the famous,the rich, and even those ignorant to it all. Everyone wants to get in on the action,not because they believe in the Bitcoin or Crypto vision,but because the rise in price and potential ROI has been highlighted. They want to use Crypto as their personal get rich quick or richer bus, and that I genuinely have a problem with. I,personally, don't want "dud" money in this space filled with people who just want to get rich and have no idea what the principles or what the crypto scene is all about. I may sound like a hipster here but I can't sit and watch all this new money come in with the sole purpose of ROI in mind with a mentality of " make me rick Crypto" and be happy with it. Social media has been buzzing with these new faces,bragging about their new investment in crypto but do they actually know what they're investing in? Do they believe in these Cryptocurrencies?
The year 2017 is almost over and Bitcoin is currently sitting at about 13,750 USD, a bit of a change from the 20,000 USD a couple of weeks ago. Social media has been relatively quiet from these new faces but not from the naysayers who say that Bitcoin will ultimately fail,but this I welcome. I welcome these large dips in price, I welcome these "corrections" to scare out the nonbelievers who are only in it for a quick profit. I want these large dips to dissuade anyone who is ignorant to this space and has no willingness to learn about it. I recall the words of Fluffypony,of the Monero project, who always insists that people should not be buying Monero, and I understand what he means by that now. Don't buy these Crypto's because you want to get rich, Don't buy them to hold when you have no idea for their purpose. Personally, I don't want that money mixed up with what I envision Crypto Currencies can accomplish. We've been fine without that money until now,we'll be fine without it. I embrace these dips and corrections in hopes of it scaring and weeding out those that are in this for the wrong reasons.
Thanks for sharing. I started to invest in crypto with the idea it is the new way of banking / staving my money. In this I have to confess that the big swings sometimes make nervous... Posts like yours help me believe in my initial goals!
Thank you for reading! Yes, there are great projects with these same goals,with all the money being thrown around it is easy to lose that sight.
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