The negative articles on bitcoin
I am dumbfounded by these idiots calling bitcoin a bubble and telling others it is going to crash.
The dollar is not money. It is simply a currency that private banking cartel can print at will. It is unabcked by anything. It is a delusion propagated by the fed reserve. It lays its foundation on debt. It strongarms other countries and their currencies. A great military might stands behind it. It is said that the strong dollar is a matter of national security. Nothing can be farther from the truth. A system based on debt will only bring insecurity to a system. Anything forced on others by a military might must and will fail. It is a matter of time. I may not see it in my lifetime or I may. On the other hand I was not around to see fall of the roman, ottoman, Greek and many other empires. All died from monetary issues. History books may not exactly reveal this in the cursory first read. Where are all those armies now?
Anyways , ordinary people have chosen to create a medium of trade amongst themselves. They have removed banks, fed reserves, taxes on currency trade and all of politically based policy issues affecting currencies. Amongst all mediums of trade in currencies such an instrument will be most favored and will be adopted widely. It is not important if countries accept such a medium. If massses of people accept it then governments have no choice in the matter. That is where the power of Bitcoin lies. It has garnered the trust of people and it appears to be incorruptible. It does not have to be backed by anything as it is not money. It is still just a currency. Gold and silver will still be money. It has always been that way and is likely to remain so. Bitcoin will grow to new heights simply as a more trusted currency. So suck it nay Sayers or banker paid writers.
Good post. It is a bubble. Per say. But it's not. It will crash. For sure. Like it did what a week maybe two ago. For a day. Next correction could be a month long. A year. Gnna happen. But a bubble falls to the floor. This won't. It will correct. Consolidate. And go up again. The only X factor is if market cap keeps rising exponentially so will btc. Profit taking doesn't outweigh new entrants they won't be able to rebuy in as low as they hope. My biggest X factor however is btc market dominance aka market share is down like 50%. The more money enters and the more new companies roll out and put to action new things the more money will leave btc and go to them. So it's possible btc comes down and others go up. There's also the bitcoin is the gold of cryptos. So even if it's not used like others will be it might hold its value as a store of wealth forever. It's hard to say. But bubble. Hahaha no.
I agree that a rebalancing will take place between these cryptos. Therein lies the danger for the investor. There's no paradigm here to know where safety lies. But probably at any given time you must be involved in the top five crypto currencies and probably speculate in a very few new ones. So I rather spread out my risks.
Nail on the head. And a % of ur holdings should be buy in dips and hold while it's cheap. Hold for years. So many good projects companies chains that are pennies to a dollar to spread out. then take a percentage for your hunches and "play with" shares as I call it. then the biggest percentage invested in the top 5 and even 10 at any given time. If I was an investment firm doing a generic platform that'd be my outline for the average investor.
Great post. Please allow me to share with you my article! https://steemit.com/bitcoin/@amakary/bitcoin-will-face-the-federal-reserve-power-sooner-or-later
Thanks for sharing