Opinion: The Bubble is Not Bitcoin

admin

Opinion: The Bubble is Not Bitcoin Advertisement Join our community of 10 000 traders on Hacked.com for just $39 per month. Although the market is positive overall, at the time of writing, the sentiment is quite negative. Maybe due to the high expectations over Consensus, which did not create that much demand over bitcoin, at…

Opinion: The Bubble is Not Bitcoin Advertisement Join our community of 10 000 traders on Hacked.com for just $39 per month.
Although the market is positive overall, at the time of writing, the sentiment is quite negative. Maybe due to the high expectations over Consensus, which did not create that much demand over bitcoin, at least not as much as it happened during previous years.
I understand it’s your money that is at stake and the market has been quite bearish.

But it’s also mine and everyone else’s who decided to change from fiat-currency to cryptocurrency. To most people you know bitcoin is an investment vehicle; maybe a bit more worrying, is the fact that the focus is not even bitcoin anymore, it’s mostly altcoins. Where else we could we get those massive gains (bruh)?
But greed comes at a cost.
I love new ideas, new projects, new ways of thinking and innovation in general. I also love the concept of decentralizing trust and money and the super-power/super-responsibility that comes with it.

Obviously, the debate is considerably more interesting when the total marketcap of (insert top-10 project name) is worth billions.
At some point we need to stop and ask ourselves, how happy are we with the actual progress of the cryptocurrency space? So many companies have surged, yet where is the real change? Is there a bubble or is the market undervalued? Is price aligned with technology development and adoption, in any way?
More importantly: Can you still go to the moon?
–this article shouldn’t be taken as financial advisement as it represents my personal opinion and views.

I have savings invested in cryptocurrency so take whatever I write with a grain of salt. Do not invest what you cannot afford to lose and always read as much as possible about a project before investing. Never forget: with great power, comes great responsibility. Being your own bank means you’re always responsible for your own money–
I have absolutely no idea, plus I couldn’t care less.

Don’t take me wrong, I hope the market turns bullish and we do see a massive bull-run, breaking the CME futures market trend of keeping Bitcoin below 10k. I hope all projects deliver upon their promises. I hope price, technology development and business development align themselves. My desire is that everything works out just fine and everyone who invested takes home some profit.

The problem is, of course, reality works a little bit differently.
Maybe in a different universe where we make no bad choices and aren’t greedy by nature, that could happen.
What I see is many projects being clearly overvalued, a definite lack of research on actual proven concepts and too much money wasted on marketing campaigns, ads, advisors, ICO trackers, paid promotional content instead of focusing on actual product development and fixing important issues. “In order to make money, you need to spend money”
Sure.

Welcome to the VC western mentality world. You either think big or go home, right?
No. That’s not why I joined cryptocurrency.
I do want to make money, get rich and don’t have to worry about anything else for the rest of my days, focusing only at doing what I love.

But there are many ways of achieving that goal. You don’t need 1000 BTC to start a decentralizing (whatever business) platform with economic incentives. Or at least you shouldn’t. One of the things that drive my passion towards cryptocurrency is what’s about to come: when people with an actual need for the technology start participating, hordes at a time.

Sure, our gains are important. But there’s something way bigger coming which will influence the entire marketcap.
Imagine when those 33% unbanked people around the world realize they can simply download an app and get paid in a currency accepted everywhere. The true beauty of bitcoin and other cryptocurrencies remains to be its decentralized, permissionless and transparent nature.
But in order for that to happen, we might need to put greed aside for a second and think of ways of better-redistributing money. If you don’t see how that is important for your personal gain, let me clarify.
Think of what happens when you include 2.3 billion people on the financial system.

Can you even do it?
I cannot conceptualize the impact on our daily lives, but from a financial standpoint, this is what I see: 2.3 billion more customers for every business, potentially. By financially including people who did not have a chance to participate in the world economy, you can now reach new customers everywhere; because the means of exchanging are borderless and permissionless, no one can be blocked from exchanging value and services. The digitalization of the world, via mobile smart-phones with internet access, could change how we do business forever.
For example, if you do business in Africa or Latin American countries you might know it’s near impossible to take money away, due to the many currency-related restrictions.

You can now hop over that problem, just by transacting in cryptocurrency.
Or maybe if you’re willing to train a whole new workforce, who needs much less cash to sustain an acceptable standard of living. It might not be easy but with the right set of tools, motivation and people we might see new specialized businesses flourishing through developing countries.

How will cryptocurrency change jobs and economies worldwide?
In order to get to the bottom of that question, first we need to worry about adoption.
I personally believe there are 3 reasons that could lead to potentially increasing worldwide adoption of cryptocurrency: A Better User Interface; A Better redistribution of money; Standardized multisig/escrow contracts.
If you think I forgot about scalability, transaction fees or block size, please rest assured I haven’t. To me those aren’t real problems; as the network grows in security (more miners), user adoption and developer community, I believe we will see those issues getting resolved. Some others will appear, of course, but that’s the nature of innovation.
You need to break stuff in order to build new things so it’s not the tech problems that frighten me, to be honest; the values and paths we choose to support our decision-making, that is what concerns me.

But we’ll get into that in a bit.
So, why is User Interface at the top? Simple answer: would you be able to use the internet without DNS being active? If you do not understand the question, let me rephrase it: how easy would it be to, instead of accessing

Leave a Reply

Next Post

Movements expected in Bitcoin market in light of Bitcoin Cash hard fork - Best in Australia

Movements expected in Bitcoin market in light of Bitcoin Cash hard fork By 20/05/2018 Virtual Coin Bitcoin. Photo: MichaelWuensch, Pixabay Bitcoin and Bitcoin Cash are once again in the headlines. The current news revolves around the looming Bitcoin Cash hard fork which many people speculate might affect the market. Bitcoin had a fairly great week…

Subscribe US Now