I need to get this off of my chest.
The mainstream media, their 'so called experts’, propaganda, and the extended arm of the global cartel that serve to control peoples’ thought processes through perpetual misinformation.
"Bitcoin continues its' dramatic decline into the abyss…” reads the headline.
Dramatic fall into the abyss? You what?
It’s currently trading at the same level that it was at the start of November, just two months ago...
Up over 800% from what it was at this time last year...
So let’s analyse this a little. It's only dramatic because they, like a lot of people that I’ve encountered since my journey into this space, know fuck all about how crypto markets behave. The media, or more aptly put, ’the mouthpiece’, shilled bitcoin into oblivion around December when it was on its' 'dramatic rise up’. A rise, that was fuelled and engineered in part, by mainstream news outlets, CME futures contracts, and Wall Street. I wonder why this was?
Let’s think about this for a minute.
FOMO anyone? Greed? What if we paint this amazing picture?
If you dangle a carrot and sell a dream, then the old saying goes “It’s like taking candy off of a baby”
To help us understand this better, let’s wind the clock back to just shy of a decade. Remember 2008, when greedy and unscrupulous bankers and financial institutions, were left to run amok across an intentionally deregulated financial market, and gambled with our money in pursuit of selfish gain? And in the aftermath, who was it that suffered the most? Was it us, or was it them? And since these dark days, which sent deep repercussions throughout the world, who’s been held accountable for this heist? A heist that is perhaps the biggest legitimised robbery that most people are likely to see in their lifetimes?
The answer is pretty clear. It was no-one.
Bitcoin and crypto assets are DECENTRALISED, meaning that they threaten the hegemony of the elite, the powerful, and the ones that control all of the wealth, and therefore hold all of the power. Bitcoin is a peer-to-peer exchange of value, eliminating the need for it to be controlled by a central institution.
So, what better way to take control of something that you cannot own? If you control the media, and the narrative, and hold all of the wealth, then why not try and hijack it? Or am I just another tin hat wearing hippy that smokes too much pot, and buys tulip bulbs?
Food for thought? I digress.
Bitcoin is just one of many crypto assets, but it doesn't define the space. It was the first, and it has since become a household name; an anonymous computer programmer, Satoshi Nakamoto’s gift to the world? Or, is it something that is used to finance terrorism, or a protocol for people to evade taxes, or perhaps even a tool to buy naughty things on the ‘dark web’? (insert yet more mainstream media fear, scaremongering, and false narratives where applicable, whilst completely bypassing one of the most brilliant technological advancements of our lifetimes). Because the printing of money, global market crashes, and the deceptive funnelling of yet more wealth to the top of the pyramid, is completely legitimised and accepted and therefore we should never question this practice?
But bitcoin is a Ponzi scheme?
Financial markets are designed to reward the patient, and punish the impatient. They are also designed to squeeze and stretch people into handing over their investments to the financially better off by making you feel uncomfortable. Investing in blockchain technology is not a ‘get rich quick’ scheme to people that think that it is, and thought that it was. But I saw many people back in December jump on board, and blindly think that in a few months they would become millionaires and be driving lambo’s.
Like with all good investments, risk assessment and a solid plan was imperative to the newcomers; cost averaging into the space so that you can catch the highs and the lows of the price action, learning about what blockchain is in the process, whilst taking profits along the way. Warren Buffet called it correctly when he said “Buy when there is blood on the streets, and sell when there is greed”
I wonder how many newcomers to this space are considering buying bitcoin now? Because the smart money would be doing just that, rather than being sucked into the FOMO we saw in December.
And perhaps going one step further:
Smart ‘people’, would stop with absurd and blasé comments regarding something that they have little or no knowledge about, or, have gained a warped insight from inaccurate sources that simply serve to misinterpret. Because we've all heard them.
The irony of all this is that unbeknown to many who don't yet know this space, and despite it’s prowess, bitcoins' technology is actually inferior to a lot of other great blockchain projects that have slipped under the radar to the aforementioned. Projects that have seen 50 times + return on investments over the last 6 months alone. For example, a £500 investment in the Dragon Chain project, or in South Korea's blockchain venture ICON, would have returned you well over £25k since the inception of their ICO’s, if you had had the insight, and the mindset to sell the top.
Crypto markets are highly speculative and can be highly volatile. But, if you take the time to understand the technology, and you believe in it, and you at least try and comprehend what this space is trying to achieve, then it can be a highly profitable venture amidst all of the doom and gloom that has been floating around over the last few weeks. The market is simply flushing out the turds.
My advice? Stick to the stock market if you can't handle the pressure, but maybe not today… ;)
This is not a crash, we're just putting the "cry" back into "crypto."