If you are reading this right now -- you are one of the very lucky ones.
OWNING BITCOIN WHEN IT WAS UNDER $1.00/BTC MIGHT SEEM LUCKY
- That was a time for huge gamblers. Very few bought in heavy, because there was just no way to know if it was going to catch on or not...
People back in the ultra-cheap "new" Bitcoin days didn't know what they were getting into... They had hopes and dreams, but there was no proof any of it would work.
...you have a huge advantage - and that makes you VERY LUCKY
You know more about what cryptocurrency is, then most of your neighbors on your street. Knowledge is king, around your friends, family, and neighbors... you may have a lot more knowledge about this topic than they do...
BUT THERE IS SOMETHING MORE IMPORTANT TO REALIZE
TIME TO MAKE THE POINT:
When the media tells you that cryptocurrency is dying, doomed to fail, the price has fallen, and regulation is going to stop the whole thing soon............
You know different. Want to know how you know that? Look at 2009 until now. Mainstream media has been beating their drums about how horrible and unsafe it is...
Banks worldwide are upset at cryptocurrency. Governments worldwide are upset at cryptocurrency.
Can you STILL buy Bitcoin today? YES! -- Can you STILL buy Bitcoin a month from now? YES! Will you still be able to buy Bitcoin 5 years from now? No one knows... but why not?
Cryptocurrency, even with all of its problems have less problems that traditional fiat systems have today.
Things that were not possible before under the old monetary system are NOW possible with the new cryptocurrency system.
....and since these technologies are just starting to get better... and you're here to watch them evolve, puts you at an early advantage.
A lot of the trivial problems have already been worked out. Now we're arguing about the smaller, finer details. Whatever technologies work the best, are going to win in the end.
Cryptocurrency and blockchain technology is a worldwide phenomenon. Soon to be bigger and more popular than cellular phone technology.
The last country to the bargaining table will be at a loss. Countries that embrace this technology are going to win first. While worldwide economies are in a state of turmoil... trustless, fair, PUBLIC blockchain monetary systems will be the only thing to weather this economic storm.
The internet use to be referred to as the Information Superhighway. Well governments know, if you want to check people, you do so, at the ports of entry. At gateway terminals, and at large public gatherings.
You don't disrupt a major highway to run a checkpoint, because you backup traffic very quickly.
You can't disrupt cryptocurrency movement, because it is always going to flow, regardless of how hard you try.
Trying to over-regulate, and fear monger the public, about cryptocurrency is counter productive. All you do is make it more attractive.
...States use to do that with marijuana and cannabis... Now they are legalizing it in order to gain some sort of control over it.
It's hard to believe how slow they are to learn from their mistakes. But that makes you one of the lucky ones. You know early cryptocurrency will not disappear over night. You also know we haven't even touched the surface yet on where this can all go.
So the next time you look these things:
- A downward trend of cryptocurrency prices on coinmarketcap
- A talking head / news reporter on TV telling you how some billionare (aka Warren Buffet or Bill Gates) talks about how cryptocurrency isn't good
- Over publicizing any blockchain thefts, or crypto-exchange problems
You are lucky enough to know, this is all fud. Proper reporting would be:
Cryptocurrency exchange ABC got hacked, and $31 million dollars was stolen.... BUT EVEN WORSE:
....this pales in comparison to the $744 million dollars stolen in fraudulent credit card charges!
Source: https://www.creditcards.com/credit-card-news/credit-card-security-id-theft-fraud-statistics-1276.php
Listen - the current monetary system is broken. Cryptocurrency is the way of the future.
You already know that... so stop looking at temporary warning signs -- it's getting better every single day. :)
You are very lucky to be smart enough knowing this earlier than people you see on the street everyday. That gives you an advantage!
An amazing summary of what is going on.
Early adopters are the ones marginalized as outcasts. Yet, they are also the ones who profit. We are seeing a major technological revolution underway and blockchain is at the core of it.
I love how you described decentralized blockchain....that is the key. Too much is being made of what private corporations are doing with "blockchain"...that is not blockchain. They control it, they own it, and they can alter it. Plus it still requires trust in IBM, WalMart, or JPMorgan.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
An amazing comment!
I have to hope and pray that some people read the entire thing of what I write, so they get the full effect of it.
You obviously did, and I thank you very much for doing it.
You must have noticed (and I think you did) how I said PUBLIC blockchains ... really enforcing the word "PUBLIC"
A blockchain is useless unless it is a public ledger, open for public scrutiny to ensure it is legitimate.
Trustless, public blockchains is the way you go.
...and no, I do not trust IBM, WalMart, or JPMorgan. Not as individual entities, but because of scale.
Unless every one of those institutions trust their own employees to walk into any of their executive's offices and look through their filecabinets, then it means, they also, have things to hide.
When it comes to monetary transactions, they should not be hidden. This way we know exactly how much money has moved, when, and to which new blockchain address. That's enough. The actual sender and receiver of the money becomes less important at that stage.
(Besides, large accounts are often identified, even on a public Blockchain. The bitcoin address of funds stolen, or of a large cryptocurrency exchange like MtGox get disclosed or known. So the large volume movements are rarely hidden... especially when everyone is watching)
But in today's monetary system, we don't even have THAT much information. Our monetary system is VERY private. No one knows for sure how much money has moved, when and where. It's all replied upon by private institutions "willingly reporting". How many institutions fail to report? Or move funds and then erase the trail? We don't know...
Glad you enjoyed the article -- I am really happy you wrote.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
A blockchain that is not decentralized and open is not a blockchain but a shared database.
Here is what it is open to:
-third party counter-risk
-hacking
-altering
-lack of innovation
-manipulation or outright theft
None of that applies to blockchains (public if we have to use that term). Many disagree with us on that premise but I do not see shared databases, even if encrypted, being revolutionary.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
This technology is amazing it's the first time that humans have the 100% under control the money they have and that's the power of this new technology. Regards
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
And right now, Steem is on sale. Folks who buy here have the potential for massive returns.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I am indeed lucky to have discovered Steemit exactly a year ago!!
I am grateful for the path Steemit has opened to me,thanks Steemit and awesome authors like you.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I agree
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit