Watching Bitcoin From The Sidelines...
This post was inspired from the morning show on Lifefm a few weeks ago, I actually didn't hear it, the kids were sitting waiting in the car while I was getting ready, when getting in the car having kids yelling at you all excited they were talking about BITCOIN!
One trying to figure out were my phone was, bewildered what was going on trying to figure out from four kids wanting to have their say all at the same time.
Basically one of the morning Guys was chating about how he had been watching Bitcoin for a number of years but never brought any, and saying he would of made a bit of money if he had brought in when he first heard about it, to what the price was few weeks ago.
The one trying to find the phone was wanting to ring in to say he had a mother that was ab-succeed with Bitcoin - I don't always talk about Bitcoin come on there's 800+ other coins to talk about than just the one that started it right?.....
This convo got my wheels turning that there are other ways for people to get involved in Crypto than just sitting and watching from the sidelines that they may not know about, so this post is to share ideas that are they may wish to explore/research more into how they could move from the sidelines to the inside field without getting too deep in the information overload.
Why Do People Just Watch On The Sidelines
Uncertainty
Risky
Not enough information
Not enough Central (Government Regulation)
Money
You can't deny that there is risk, there is risk in everything from walking outside you don't know if your going to fall over, your still gonna go out side right? It's about lowering the risk so you watch out for broken concrete, things in your way where you want to get to etc.
You will have feelings of wish I got more or in lower or sold higher etc, you need to be happy with the decisions you make when you are doing it and accesses will I be happy if it goes higher or lower.
Throw out the word investment you are participating in projects, you have a choice if you want to be a community member of a project or not, you are the one responsible for finding out all the information that is available to make your best decision.
If you like government regulations you best not to participate in crypto currency projects as these are decentralized, there are some more centralized projects your best to look into those.
There are white papers to find out more information there is more information than there used to be, and is far more easier, with technology it gets easier and easier.
There are ways to be involved in Crypto without money so lets look into a few of these...
Faucets
Are places you can go to collect coins from different projects by claiming coins every hour or how many hours/minutes have been set - faucets come and go as they run on people clicking ads so they can get more coins to put into the faucets when this doesn't happen they are no longer, they sometimes get coins from the coin devs also.
Bounties/Airdrops
Coins Devs sometimes do Bounties for their project - if they need people to contribute for translations of whitepapers, or need design, whitepapers etc they will give coins for the project work they would like done. Airdrops are coins given out at certain time, where you may need to sign up and leave your email to receive information about the project updates to receive coins.Selling/Services
There are many markets you can sell your products and services on for Bitcoin and sometimes you can choose the coins you would like to accept.Discord
On discord within some of the crypto community's they have build bots to rain down coins on those that are active in the community from time to time - one of these community's is ADSactly which you can join theirDiscord and be able to access other crypto community's thru their discord to others that rain down coins from time to time also.
Social Media
There are many projects that are including ways were you can be donated/tipped coins from writing posts, uploading videos, sharing content, commenting - one of these social sites is the one you are reading this post on now called Steemit.There are many ways to dip your feet into crypto, hope this was helpful to find other ways of looking into cryptocurrency's. Are you still on the sidelines or have you dipped your toes into crypto, if so how did you tip your toes into crypto?
Picture Source
1, 2 - edited picture 2, move it back and changed the filter on the pictures to make the cover picture in this post.
Thank you for stopping by have a Fabulous Day/Evening!
Don't treat Bitcoin like a trading commodity. Treat it like a fiat alternative whose value will continue to increase as fiats continue to devalue. It is like buying a whole bunch of gold and silver coins and forget about them for the time being.
Also think it could be the gold of the future
It could be, as it can be digital and physical it just depends on wider acceptance, but still people like to have physical metal also.
Great advise, Thank you for your comment.
Forget shouldn't be a word in investors vocabulary
That is exactly true :) Just keep collecting coins for the future!!!
I haven't actually heard of anybody that had positive experiences with faucets. I'd be very interested to hear from anyone who had. Thanks for a great post!
Used to do the faucets was able to get into Verge and Bitbean as first projects when they where 9-10 sats through gaining 8 cents thru a faucet, also was able to gain alot of other project coins thru another faucet. Was holding for nearly 2 yeas before there was good movement, one of these faucets are no longer the other stopped using not surer if still going. It started to get harder to gain BTC and coins when the projects became more seen.
@biglipsmama The online market place is a wonderful industry for truth of the matter and lies. Now it is actually quite challenging to acknowledge where by the reality is.
I think another reason people sit on the sidelines is a general lack of knowledge as to how to acquire, trade, and liquidate an investment in cryptocurrency. The process is outside of the "normal" channels, and isn't yet quite as easy as in traditional financial markets.
And these differences between processes can instill a sense of risk that certainly plays a role in remaining outside the cryptocurrency markets. Added to that the hype that can be associated with ever new ICOs...
That is true, the knowledge is also different per country also, with some being more difficult to get involved in if their is a lack of knowledge.
Doge and Dash used to be big tipping communities on reddit. Any one know of other generous reddit communities?
We believe that cryptographic currencies including BTC will become increasingly common in the future. I am anxious that the speculative elements are strong at present ...
It's the same as when computer,creditcards, internet people said they wouldn't get popular or last, it was those that saw the vision early on to realize it will be something we would use in the future.
I think the code currency not to readily shift smoothly unlike IT. Anti-reform forces are big.
Nice post, I've recently started in crypyos as well. Mostly gaining Litecoins now... 😊
Thank you @mickolas13, Lovely to meet you.
Are you mining Litecoins or gaining them another way?
Bitcoin will be huge! It won't be stopped :)
good post
This explains why people should remove the risk term in their mouths!
People will talk all kind of crap of how risky this ,risky that is!
I read a statement once that said something like this below
People fear risk like they will live forever!