Crypto is already mainstream

in bitcoin •  5 months ago

Fun fact, about 70% of Bitcoin investors are Millennial males below the age of 30. That’s probably because Bitcoin is the most high risk investment available in the finance market today. Also it’s the newest and most progressive cutting edge technology around and most people simply don’t know about it at all or don’t know enough about it to risk any of their hard-earned money on it at this stage. If you fall outside of this demographic, like me, and have still bought some Bitcoin, then consider yourself an exception to the average.
Who’s in
Another demographic that is easily attracted to Bitcoin is the gaming industry. And those are again mostly young guys. It’s seldom that you will hear of a female of any age who plays computer games. So there must be something about cryptocurrency that appeals to the young, male, tech gadget-oriented mindset. Older folks are generally more cautious, highly risk-averse and more set in older ways and choices. They tend to invest their time and money in more conservative and stable interests like stocks, property, pension funds, etc. Or for interests they will steer clear of unprofitable gaming and rather use their time on health and wellness, study, and of course family and career. So what am I doing investing my time and money into crypto. Well, firstly I have the time and not the family or career to worry about. That was a lifestyle choice taken a long time ago, at the start of my adulthood you could say. It suited my nature and has paid off very well as a lifestyle choice. But it’s not for the majority. One should follow one’s heart and live according to one’s personality preferences. Some are forced by circumstance or early mistakes based on lack of forethought into long term life paths that really cause a lot of suffering for themselves and sometimes those around them. A wise soul learns from other’s mistakes and does not have to make them him/herself. The rest are obliged to learn from the school of hard knocks.
Of course even with cryptocurrency there may be lessons to learn. That’s why it is recommended that one never invest more than you’re prepared to lose. Don’t invest money you might need for other important life necessities because the market is volatile, high risk, and uncertain. Timing your buys and sells are crucial to making a worthwhile profit in crypto. For example Bitcoin was $20 000 in December 2017 but is worth only $6000 now, in October 2018, 10 months later. That being said, it was only worth $1300 in March 2017, just 18 months ago, so the price is totally relative. It all depends when you bought in as to how much it’s worth to you as an investor. If you bought in 10 months ago, you are down in profit but if you bought in 18 months ago you are still way up. And that’s the interesting part of it. It’s also why we need to be informed about the movements of Bitcoin’s price action. In cryptocurrency the middle man or broker has been removed and you become your own broker. So it’s up to you to take the responsibility to do your own research into the industry. A well-informed investor makes for a profitable investment.
Crypto-friendly nations
Long-term “hodlers” (holders of crypto) don’t mind the price swings though. They have bought in with the understanding that the currency is so valuable as a product in the world today, that it will invariably grow in price with more adoption and use cases as time goes on. And they would be right. Before 2017 there was little knowledge of crypto and few big investors. But now it is a household word and big investors are buying in. You don’t see them advertising, and they trade OTC (over the counter) and not on exchanges like us retail investors, but they are there buying in with big bucks. These are pension funds and insurance companies, as well as universities and hedge fund managers. So it’s only a matter of time before mainstream adoption occurs. Some countries are launching their own crypto or digital currency. Besides Venezuela, which I’ve mentioned before, even first world countries like Estonia – an EU member – are moving in that direction. Remember that they were also the home of Skype. Their entire health and banking sector will all be run on the same tech as Bitcoin, namely blockchain and will be the most progressive digital country in the EU soon. Switzerland is totally on board, as the “Silicon Valley” of crypto and blockchain technology, hosting some of the biggest companies in the industry already. Of course they never joined the EU or the Euro in the first place. They are a law unto themselves, and a finance- and tech savvy law at that. Belarus is another European country welcoming Bitcoin and Ethereum, etc. The president personally declared Bitcoin mining, trading and capital gains to be tax-free until the end of 2022 just to encourage businesses to set up there.
Asia leads the way
If we look further to the East we can see that Hong Kong is the exception in China by still allowing Bitcoin as a virtual commodity, as well as exchange trading. They were always more progressive and thus profitable there. Singapore - the Asian economic power house -is totally crypto friendly. South Korea is super welcoming with many exchanges and blockchain projects. Some of the largest trading volume in the world comes from South Korea. But even they won’t beat the biggest trader of them all – Japan, who were the first country to legalise Bitcoin trading and give it the status of legal tender. They have properly regulated crypto already while western countries still flounder. About 50% of all Bitcoin trade volume in the world comes from Japan. Bitcoin is definitely big in Japan. They love all future tech there, especially robotics and AI, and are indeed the world’s innovators, able to think ahead of the curve. Perhaps it’s because they are the land of the rising sun, always being the first time zone on the planet. Then there’s also Australia, not exactly Asian (though full of Asians) but still in the Far East geographically speaking. They have openly welcomed Bitcoin as the second country after Japan to declare cryptocurrencies as legal tender in 2017. Their government has put regulation in place so it’s all above board there mate.
The West follows suit
That said, the West also has some very crypto-friendly nations, besides those already mentioned, especially for tax purposes, which may be important to bigger investors. Germany considers Bitcoin to be private money and treats it like foreign currency, with no tax issues for long-term holders. Denmark, who plans to be the world’s first cashless society has made Bitcoin tax exempt too. And then there are the giant corporations of the west who are almost as big as countries economically nowadays. Microsoft is accepting Bitcoin for Windows and Xbox sales. Shopify is an online platform that accepts Bitcoin, and so does Expedia (travel), Subway (food) and even Bitcoin Travel, where you can buy and entire airplane ticket, hotel booking, car rental and tour with Bitcoin, to name but a few.
So there you have it in a nutshell. Bitcoin is mainstream and it’s everywhere. I even accept crypto as payment for work or my writing, if you perhaps wish to leave a donation. Find my address down below. So until next time when I discuss my further realizations and insights into the world of tomorrow, may you too be informed and blessed by the new dawn rays of the rising sun.

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