"Filipinos warned vs bitcoins, cryptocurrencies." And I am warned by a friend
Out of sheer joy joining steemit, I tried sharing it to one of my closest friends who creates quality posts through social media platforms like Facebook, Twitter and Instagram. I told her the opportunity I found through steemit, which for a writer like her can be beneficial. I showed her the website and even shared to her my plan on investing into bitcoins and shelling out some money. She then stopped me and commented harshly,
"Are you insane? Is that how desperate you are?"
Then continued explaining about cryptocurrency and how risky it can be. She even cited to me one of the articles posted by Inquirer (a big newsletter company here in the Philippines) to prove that I am into a delusional path.
The article, "Filipinos warned vs bitcoins, cryptocurrencies." says that Filipinos SHOULD NOT invest on Bitcoins or other virtual currency since it is very risky, speculative and has no safeguards. They shared in this article the biggest hacking incident that happened in 2014 where $460 million worth of bitcoins was lost in Japan in the infamous Mt. Gox case. It was also mentioned that there was another occurence just this November 2017 where there was a reported hack that resulted to a loss of $31 million.
My friend turned into an unbeliever with just one article- that escalated quickly huh. Well, who wont be scared to invest into cryptocurrency with all those hacking and theft news, which can also be true to any other forms of investments.
I explained to her that there are no risk-free investments, they only differ on the level of risks. I am not an expert to explain these things bullet by bullet, luckily there are articles that backed me up in trying to confront my friend. I did not do it with the little knowledge I have about how all of these work as it may turn subjective, especially I am a beginner. Cryptocurrency can be very risky, yes, so as investing in bonds, bank products, stocks, insurance, and many more.
Rule of thumb; ALWAYS do your research before entering something. Avoid bias articles (that's how I see it). Weigh pros and cons, and don't be like my friend who instantly doubted cryptocurrency without knowing the other side of the coin.
Life is too short for you not to take risks. It's just either you LEARN from it or EARN from it versus NOT LEARNING and REGRETTING in the end.
Ps. I talked to my friend and she apologized, but did not force her to try. It is up to her now. Also, if I said something wrong please correct me immediately.
Sources:
http://business.inquirer.net/241672/filipinos-warned-vs-bitcoins-cryptocurrencies
Very true, most of our country men are skeptical when it comes to things they don't even know in depth, like "it's a scam", "no product, no assurance". We've been too traditional with the ideal "trade" that we're being left out, and could not keep up with the changes happening around us, I commend you for enlightening your friend, same as what I do when one of my friends dish out skeptical remarks regarding crypto currency, I bish slap them with cold hard facts, and some articles of people who regret being a non-believer. regrettably though that some of them are so stubborn only to find them selves regretting every time I bring them over to withdraw some cash outs (from mining).
Yesssssss, I agree that we are getting behind everything. No wonder only few people succeed, a lot are close minded, our media is one sided, some of us are either too lazy or afraid to try new things. Smh... Pilipinas kong mahal.
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