In the BUBBLE (BITCOIN) we TRUST
Hi everyone,
I want to approach some of the latest claims that were posted in the media about crypto-currency being a "FRAUD" or for it mostly being stated as being a "BUBBLE" ready to pop.
I am not an "EXPERT" but I just want to share my opinion and perspective on the matter and hopefully spark a discussion.
Bitcoin itself; and for those who currently still might not be so familiar with it, was created to decentralize money. In different words, Bitcoin as a digital currency that can't be controlled or manipulated by only one entity, which is the opposite of the current fiat currencies known as the USD, EURO, British Pound and so on. Those currencies get manipulated daily by the World Bank, Central Banks, Corporations, Investment Markets due to the heavy ownership of the “ONE PERCENT” that controls the WORLD.
CALL ME A CONSPIRACIST but I can see why the media reports so negatively about things that actually could benefit the rest of the 99% of the population (WE THE PEOPLE) I’m not just speaking about money and wealth but also about the power of gaining more control, being more FREE and ANONYMOUS.
Yes, ANONYMOUS!!! This is one of the most important things that people often forget about, every day. We give and leave our information for free in daily activities that are being collected and monetized by corporations.
LET’S START WITH WHY BITCOIN IS BEING TARGETED AS A FRAUD
Think about how much money is being invested into BITCOIN and how BITCOIN sparked the CRYPTO MARKET. At this very moment we are talking about a $670 billion crypto market! BITCOIN’s Market value is currently $225 billion. All this money is being allocated from the BANKS and that means there is less money to be invested by the Banks.
Governments are trying to regulate this huge market. At the moment, one special key point is the huge amount of VAT that governments are being left out of and of course proper TAX regulation on profits from crypto investors.
Less or no control in how people use crypto currencies.
I could certainly write more reasons why Bitcoin is being targeted but I think these 3 points speak for themselves.
WHY IS BITCOIN NOT A BUBBLE?
A lot of people speak about how BITCOIN doesn’t offer a PRODUCT and how it is just merely a SPECULATION CURRENCY that has nothing else to offer. In my opinion it offers a SERVICE since it can be used to pay for goods and services the same way fiat currencies are being used. Until now, of course BITCOINs usage is still very limited by the constant volatility in value changes but it can do all the same things as fiat currencies with better benefits.
Due to the amazing market expansion on new crypto currencies, Bitcoin is also gaining more usage when used to buy in and sell new currencies.
Opposite to others I think that the raising of Mining costs adds value to BITCOIN. Think about it, goods that have a lower production cost are usually cheaper than goods that require more valuable resources. But this also causes higher transaction fees specially when doing lower value transactions. Now this may cause BITCOIN to appear unattractive when it comes to being used as a payment method and to be supported by companies. However, developers are working to fix this issue by providing more space for Data to the Blockchain and I think with the SegWit and the Lightning Network this problem will be solved in the near future.
Is BITCOIN and other Cryptos overvalued??? Well YES and NO. Of course there is the hype and the overexcitement of trying to get in with the hopes of making huge profits. Like every other market this is always a matter of concern but to call something a Bubble and to compare it to the worthless piece of paper that banks were selling as a capital investment sounds a little too BULLISH to me.
There will always be market adjustments, especially since we are still dealing with a technology that is still not very well known or understood by the masses. As soon as the media reports negatively about crypto-currencies or governments try to ban/regulate crypto-currencies, panic sells will be unavoidable.
Crypto currencies are in the early stages of their development/evolution towards a new digital world and it’s inevitable that the money as we know today will disappear. Embrace this new technology or otherwise you will be left behind.
Please share your opinion, different perspectives are welcomed.
Breetz
Its not just bitcoin everything is tanking which clearly shows that bitcoin is still the all time king no matter how much people want to dispute it. We are close to a 30% correction in the last month so while this looks like a bad start its not. It looks to be a simple correction that will take us back into bullish territory by end of month. These damn governments though SERIOUSLY! ugh
Whats going on right now is a clear example of how much of a hold governments have over their people and your freedoms well really are not to free per say.
I didn't write this because of the prices going down, as I stated at the end of my post there will be market corrections, it would be bad if it wasn't happening. My point here is that people that are getting started or with less information after hearing the statements about Bitcoin and Crypto currency being a Bubble distance themselfs from investing into this market. You posted in you blog about "All Cryptos To Be Government Owned" when I mention governements I'm exactly refering to things like this and it's not new that governments are used as tools to ban and to destabalize other markets so corporations and banks can control and make profits out of it. I share the same thought as you, the market will go up again stronger than the last time.