The Rise Of Cryptocurrencies -- The Transhumanism Singularity -- The Timeless Value of Gold & Silver
In The Beginning...
It seems we are at a real event horizon with the sudden explosion of crypto currencies. While not brand new, they are certainly gaining in mainstream media attention and our collective consciousness. But the world at large hasn't bought in yet and for us to be in a bubble/ponzi there has to be mass adoption. And I don't think we are even close to that yet.
The implications
of blockchain technology are just starting to snowball. Along with Currency, Banking, Medical Records, Manufacturing Inventories, Historical Records, Health Systems, Government Agencies, Stock Trading, Personal Communication, Information Transfers, Deed Assignments, Financial Data, Ancestry & Genealogical Mapping, Judicial Precedents, Music, Social Media, Entertainment, Sport Statistics are just a few of the disciplines that will be forever altered in my lifetime by this new powerhouse of information storage and transfer.
What a Great time to be alive!
The exciting part is my kids will find commonplace, wonders that we can't even conceive of yet. Along with this informational revolution is coming our technological awakening. The Singularity is near!
This is all great but...
If posing as a shrewd financial genius has taught me anything... Its diversify diversify diversify. I don't think anyone is putting all their money into cryptos. At least I hope not. As much as I detest our fiat currency it is, for the time being, a necessity. Especially in business. But I think our collective consciousness is rejecting it. Or at the very least tired of being controlled by it.
Old School Wisdom Will Win Out
At the time of this writing Silver is $16.71 and ounce! That is super cheap! Cheaper than 4 out of the top 5 cryptos right now! For a physical coin. And it is liquid. You can sell it, trade it or pawn it easily. I don't think it will ever be worth less than what you paid for it. Just do a simple risk/reward analysis. The upside is huge! Say I'm wrong and silver is $10 in a year or even goes to $0. Unlikely. But for the sake of argument. I really haven't lost that much. Less than $20 per coin. But say it goes to $100 or $500 in a year or two. Per coin! The upside is inevitable and likely huge! Maybe it will take 10 years but that is putting a lot of faith in a system that we all know is barely propped up.
Crypto Currencies that are backed by something tangible (i.e. Ripple, Steem, Ethereum, Maidsafe) I think will have more longterm legs. It is still hard even as I write this to get around the mental Monopoly Money Mentality. But as more and more people ease into the crypto sphere and realize it is legit the easier that transition will be for others. Especially when you can easily make the Monopoly Money Argument with our beloved fiat currency right now.
But in the end, those who use common sense while braving this new world will be the most successful. If it is too good to be true is probably is my friends.
Be smart, Be safe and Be healthy and happy! And Be proud! You are pioneers of a brave new world of opportunity for future generations.
Lets get it right.
Peace, HM
It is important to educate and remind the Crypto community to diversify and more important to own as a foundation of wealth and insurance gold&silver.
If the next and biggest crisis will hit (and it will) one want to own something you can hold in your hands and what money is since 5000 years!
I have been collecting coins with my son (8 years old) for the last 2 years. We regularly hit up our local flea market for silver. Its a great hobby. But its more than that. Its a hedge against inflation and a legacy I can pass on to my family. Thanks for the comment.
Take some of your profits from your cryptos and buy silver! It's the most under rated medal it's going to be worth so much more once people realize that there isn't that much to go around.
Hi, thank you for sharing, following you ^^
I got you a follow back!
Transhumanism FTW!
Great read. Well thought out. I literally wrote something of a similar nature today. Must be something in the air rn. :)
https://steemit.com/cryptocurrency/@adzytho/30sec-read-cryptocurrencies-gold-and-fiat-currencies-are-not-enemies
Over the weekend my parents who are in their 60s asked me about crypto. (and they brought it up) It is indeed in the air.
Got you a #followupvote man!
good approvals are good.
nice post. thanks