Mainstream Manipulation of the "Digital" World
This last week, we’ve all been subjected to a dizzying, head-spinning crypto roller coaster ride. One during which many pressed the “ejection button” next to their seats, bailing out before the nausea got too intense to stomach. And all due to the irrational ramblings of the powers-that-be, spreading negativity and “FUD (Fear, Uncertainty, Doubt)” throughout the mainstream media.
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Now, I’ve been in the crypto game for a good few years now and gradually built up a firm belief that this WILL eventually be the way global financing takes place in the future and far beyond.
The paper note. One of the last of man’s greatest inventions yet to be given the "digitized" treatment. So, with that in mind, it stands to reason that we could well be witnessing the birth of a new era of “money” as we know it. However, the markets are only just starting to gain traction. Most people out there in the general public will most likely not even have heard of the term cryptocurrency let alone understand the concepts behind it. What about the term "Bitcoin"? That seems more likely. But as to what it actually is or how it is used, is another issue entirely. Many new to these markets only join in the hopes of getting rich and not really concerned with the incredible revolutionary technical aspects as such.
So, the swathes of new people jumping onto the crypto bandwagon and discovering all the fantastical wonders and advantages it has to offer, will continue to grow over a good number of years from now. So it seems a crying shame that those same individuals are just as eager to jump off that same bandwagon the minute some media-related story gets released bashing Bitcoin or it’s fellow digital counterparts. It’s a prime example of herd mentally if ever I saw it.
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But without getting too much into the intricacies of the political details (of which the debate is in full swing on many a YouTube channel right now), it cannot be ignored that there is a repeating pattern occurring here. Ever since the inception of Bitcoin way back in 2009, certain groups of the hardcore elite were determined to prove the case against this technological evolution we call cryptocurrency. Bitcoin was called a fraud, a ponzi scheme, even some type of Internet hoax at one point. I can’t think of any such invention in the past that have taken such a pounding week after week, month after month, year after year only to still be increasing it’s growth at such an exponential rate. You gotta give that to Bitcoin, if nothing else.
But history speaks volumes. The ingrained resistance to change that the human psyche exhibits has been proved again and again and again. Most of the modern day conveniences we all take for granted, were at one time or another, being conceptualised in somebody’s mind. A theory that some “outside thinker” had the audacity of going against the mass “train of thought” and simply found a better way. The planes we fly in, the cars we drive, computers, tablets, phones. They all were at one stage ridiculed as being a far-flung fantasies devoid of any merit or inherent logic. Yet here we are enjoying the fruits of those famous individuals who fought through all the BS propaganda and strove to create a better world for us to live in.
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I see “Bitcoin” as our newest addition of the above. It doesn’t matter who created it or where it came from. The more important issue is does it serve it’s fundamental purpose. And the short answer to that is: HELL YEAH! A decentralised mechanism of payment allowing complete and unanimous control over people’s money and all conducted through a reliable network of delegated computers. Sounds pretty damn good AND fair, right? After the mess various governments have left their country’s finances in after the disastrous banking crash of 2008, this seems like a gift sent from the gods themselves. When people’s morale is at their lowest with those who were deemed in charge of improving and maintaining the well-being of it’s citizens. It seems change is finally upon us, but at what cost?
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Recent events show how this new market can be easily “price” manipulated to allow certain self-serving highly ranked individuals to profit from the flock of human sheep playing into their hands. But it’s a familiar tune many of us seasoned users in the space are getting to understand very well. It will still take a good number of years to where our crypto markets will find some level of equilibrium. And even then, the largest influential groups in the world may still hold aloft their swords above our heads, ready to cast it down anytime they see fit. But the playing fields should have evened out by then. It's my stance what cryptocurrency can’t be stopped. It's the "mp3" of money, if you will. Many big players know this only too well and without a doubt, will make the most of “one of the greatest money-spinners of all time”. Please don’t get sucked into what the media say or do. We have to think for ourselves and analyse why certain decisions are made and opinions announced. As long as we see the bigger picture for what it is, there is nothing to worry about and everything to gain. So given the above, my thoughts are as follows:
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Hold on to whatever crypto you have invested. If the price moves down, take it as an opportunity to buy up some more at a better rate. If personal funds prove an issue, just sit back and play the waiting game. There are few chances in one’s life to potentially hit a jackpot on this scale and frittering it away on the spiel of some people’s politically-motivated agendas, may end up costing us big-time. My personal thoughts, but a truth I firmly stand by at the same time.
I'm HODLing man!
Wise words from a wise man! :)
I used to dabble in some short stories myself. That is very cool that you have won awards. Regarding crypto: yes, and yes, and yes.
Thanks for stopping by and appreciate your kind words. And we're definitely singing from the same hymn sheet in terms of our crypto views. :)
Good to know! I've been around the markets for a bit, but they are always changing it seems.
Yes yes yes! Love this, such a concise (and in my opinion correct) view of cryptocurrency.
I'm really new to it myself. I only first heard the term cryptocurrency a couple of months ago if you can believe it!
But I have been absolutely astounded by its potential - and also, as I understand more, just what a 'dinosaur system' our current financial banking system is.
I read an article written by an economist on Forbes, and it really turned on the lights for me. His opinion is that the current monetary systems we have in place are completely ridiculous. Akin to when we first had electricity and things like washing machines were plugged into the overhead light fittings using long cables that trailed across the floor.
When we make payments now, we are actually giving someone all the details they need to also make payments from our accounts. (We're used to this, but it's ridiculous!) With cryptocurrency, when you make a payment you are only giving someone the information they need to receive your money.
Soooo much more secure and logical!
Incredible comment! Thank you! For someone who has barely got into this game, your knowledge and insights are exceptional. I can't think of much more to add to your already awesome points. You hit the nail on the head dead on!
Thank you once again, @johleen!
I agree with everything @ezzy, in fact when the crypto came down, I was not afraid. in fact I took advantage of buying others, as you rightly suggest.
As someone who is still somewhat new to crypto I couldn't agree with you more. The recent statements made by the corrupt banking establishment made the masses jump ship because the media force fed it to those willing to believe their lies...the sheeple....herd mentality as you put it.
The announcements that certain Chinese exchanges are shutting down also added to the steep drop off but the markets still rebounded rather quickly which shows the resilience of them and somewhat breaks from the commonly accepted paradigm that any moves in China are major market factors. While they certainly have obvious effects, the shockwaves sent through the markets aren't nearly as devastating as most believe.
I really like the analogy you used as well...
Going along with the above, I feel like we're still in the 'Napster' stage and it is poised to explode in growth and acceptance
Yes, bro. The propaganda being spread around it yet another stumbling block on path of Bitcoin, but I believe cannot stop the inevitable. And that is the substantial rises we are yet to witness. Still can't believe how many people sold off their crypto portfolio in a panicked desperation. Man, how they'll regret it in years to come.
If you liked my "mp3" analogy, I "love" your Napster one, lol. An unstoppable format released to the masses that eventually led to the downfall of its outdated, previous counterpart. Sound familiar? :)
on the nose my friend, right on the nose!
Yes, definitely in the Napster stage, if that. . Napster stage there was still more overall adoption of the net than there is in crypto now, imho, . . HODL!😀👍
HODLing is always a good play. Personally, I've recently gotten into day/swing trading but not only is it more stressful than just holding btc or eth, but 90% of traders actually make less than if they just longed the top coins. So...the game becomes a mission to get into that 10%.
Thanks for the reply, mate. Yes, day trading can be a little edgy given the volatility of the crypto markets. But historic data and the rises of all these various coins speak for itself, bro. :)
Hey @ezzy bro, really great article as always!
I want to personally invite you to join my free Steemit Airdrop/Giveaway of my new own Crypto-Payment Token called "Future24Coin"! :) You only have to send me your Waves wallet address in the comments of my article here to participate in the Giveaway: https://steemit.com/cryptocurrency/@future24/cryptocurrency-news-future24coin-pre-token-sale-starts-now-steemit-giveaway-and-bounty-program-ideas
Hey, my bro! Thank you for checking out my article.
Man, you've made your own coin! Wow, that's crazy! Of course I'm part of that giveaway, bro! And also wish you the best of luck with your very own coin. Fantastic stuff! :)
Hello @ezzy! A great article by you and one I found extremely useful. The only cryptos I got into were mainly just investments (although I still think steem is the best of them all. Still need to start blogging though). The media always make problems, you are right. The recent fiasco with JP Morgan was unreal. Still, I believe as strongly in the rise of crypto as I do in your writing ability! Keep up the great work, @ezzy. From one of your biggest Steemit fans.
Hey there, buddy! Thank you very much for your invaluable support, man. Not sure which cryptos you got into but msg me on steemit.chat and I'll be more than happy to discuss it with you. I'm glad you see through all the BS being banded around of late. Just hold on tight and everything will be fine. :)
exactly like that!!
man i really liked your post <3 thanks for sharing this!!
Thanks, buddy! Much appreciated. :)
It can be a wild ride at times. But I'm a hodler, so I will continue to remain invested.
Hey there, pal! It seems to be the best course for action IMHO. :)