Are You In Cryptos For The Right Reasons or to Speculate?

All of us know the great crypto sell off (retracement) that has been happening over the past 3 months. Does the sell off mean Bitcoin, cryptos and the blockchain are in trouble? NO. In fact, Bitcoin and the blockchain are stronger than ever. The fundamentals have improved over the last 3 months not declined. What has declined is the speculative mind set.

If you are involved with cryptos for fast profits and speculation, than you are in this market for the wrong reasons. Can you make money in cryptos? Yes, of course. But if it is just about making Fiat money profits than you are not a true decentralized, blockchain loyalist.

The entire purpose of cryptos and the blockchain is for decentralization and breaking free from the tyranny of the banking cartel. Buying cryptos to flip them and make fiat profits, defeats the purpose of the blockchain in general. Those who do this are still feeding the predatory fiat banking system.

Individuals who support cryptos and the blockchain are not selling their cryptos. They are in this for the long hall. Bitcoin and crypto loyalist HODL (hold on for dear life). Supporters do not want to transact in fiat currency anymore. We realize the fiat system is full of fraud and corruption. Crypto currencies like Bitcoin, Litecoin, ZCash, Dash, Monero, and others are honest money. Cryptos fit the definition of what true money is much better than the fiat currencies do of today. Using and supporting cryptos are a peaceful way of protesting the unfair current banking system. Looking for business and services that accept crypto currencies is one way to promote the new monetary system. Patronizing such establishments encourages others in the community to participate in the blockchain revolution and grow the technology by means of grass roots.

The holders of cryptos are not panicking with the months of price dropping. The last 3 months have been great buying opportunities. Another way of looking at the past 3 months, is as if there has been a giant sale on your favorite cryptos. Look, nothing has changed in the old, global monetary system. Nothing was fixed or addressed since the 2008 banking crisis. In fact, they kicked the can further down the road and now we are 100's of times worse than 2008. When the next banking crisis hits, there is no solution or temporary patch. It is over. This will happen overnight with zero warning. The global population is in desperate need of a monetary replacement and the blockchain with cryptos are it.

On the other hand, we have had great progress in cryptos and blockchain advancements since January. We now have the Lightning Network in Beta phase. We have progress in decentralized exchanges and mining hash power diversity (DragonMint). We have more wallet and trading platforms than ever before (such as Abra and Pillar) as well as hard storage technologies. The industry has roared ahead despite any market sell offs. Nothing is stopping this fastest growing industry in the world.

Think clearly and do not give in to FUD. Look at the data. The blockchain and cryptos (Bitcoin, Litecoin and others) are getting stronger and stronger each and every month. Just the opposite is true with fiat currencies. Do not forget that the Interbank lending is the lowest it has ever been since 1973 when they started to keep track. What does this mean? It means that banks do not trust each other to lend to one another. They are afraid banks will not pay the loans back. This spells trouble. I do not know about you, but I do not want my savings in any bank or worthless fiat currency. I will take BTC and LTC any day over a dollar.

image from: dinardirham.com