NEWERS - Thoughts about crypto

I wrote this mail to let everyine know my thoughts about the crypto currency revolution (sounds cool?) so that you can get some info before deciding if this is for you to invest.

I think is good that you understand what is this thing we are talking about before you get into it and become one of us ;)

I became a cryptocurrency enthusiast 2 years ago, my thoughts were that banks are always getting advantage of the public they serve and they don't really help much, they seem to be "not needed intermediaries” ( I know from experience that intermediaries -in general- are the ones who make more money doing less effort) as they do not add anything to the final product, life would be easier if we didn't have banks around us, less papers to sign and less time to move things ahead, why we need them?. Also, when banks are in trouble ( for example the European financial crisis in the 2015-16 years) they could decide to lock your funds as if you were not the owner (see Greece and Portugal examples), nowadays in Spain the government is still paying the banks money to keep them afloat from the public wealth while the bank directors are being paid monthly excessive salaries and what they call bonuses. I believe that is why me and many other people like the cryptos idea.

Crypto currencies do not need banks, our money is always under our own control, you can send money to everyone with very low fees and no one but you is in control of the money you hold, you have the “keys" to control your money. This is the ideology that made me an addict to cryptos. Your money is in your hands, you can transfer, cash out, and control your finances without an external intermediary. Originally it is more an ideology than an investment matter. Of course this is a double sided issue, if you have the control you also have more responsibility, like keeping your “keys” safe so no one but you can access your funds. If you disappear one day your money will be lost forever unless you shared the “keys” with someone else. Hackers could also get hold of your “keys” if you are not careful (Banks and other financial institutions are sending messages every day through social networks to make people scared of cryptos saying is a bubble, hackers are going to take your money etc..).

I believe we are in the very early years of crypto currencies. As of today you can not make much with cryptos if you want to spend money, yes there are websites were you can pay w crypto (more everyday) and yes you could link an ATM card to your crypto so that every time you pay with an ATM it deduces the total amount from your crypto account (this week many institutions banned for the first time to use this type of ATM cards, but in my opinion this ban can not last for long and will be temporary, future will tell). Possibly in the future we could be able to pay everything digitally., or do you think your children will hold USD or EUR in banks and paper notes to pay? I think they will not, instead they will hold it in digital money.

Thanks to the blockchain technology (im not getting deeper into blockchain technology - you can do your own research on it -) we do not need banks to control our transactions. Everything can be secured digitally and machines will control transactions, not banks.

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(I still think this area is deeply connected to the previously explained philosophical factor btw).

Apart from the philosophical look, are you interested to become a holder of cryptos? I will go straight to the point. Cryptos are nowadays very volatile, at least 10x more than the traditional stock market. You must be ready to invest WHAT YOU DO NOT NEED, no more as this is still unpredictable market.

Giving you an outlook, the price of 1 BTC (bitcoin) is now around 8,000 USD, a month ago was 20,000 USD, a year ago was 1,000 USD...I expect cryptos to settle in a few years and be by then more predictable, possibly when more people join the trend, but nowadays this is a crazy wave flow. Today you can have 10K, tomorrow you might have 5K or 20K…nobody can predict yet. % of gains and losses are quite high (30% in one day???) so getting into this market for financial reasons could be very stressful (telling from experience).

My financial straight to the point thoughts:

• BTC price shouldn't go lower than 5,000 USD, if it does we area all dead and the revolution is over. Delete this message if this happens and do not talk to me again about it :(
• My real belief is that price in the next 12 months for BTC should be over 15K, hopefully between 15-25K. Same % gain for other cryptos.
• Buy at 5-6-7 K then wait for it to rise …or not...

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From here you take it, I know you are interested in it for financial reasons, myself I believe in it, I want a revolution, so even if it goes to zero I can be proud of the reasons why I invested in it. Please be careful, and do not link your actions with my thoughts. In my opinion you should treat it like a 2- 5 years investment (minimum).

All my good wishes ;)