Bitcoin, farce or fierce?
So I’ve been dabbling some in crypto for about 4-5 months now with an increased interest in the markets. It’s not like I really take much time to read about it and I certainly don’t watch the news... I can make up better disasters than are glorified on TV. I just choose to be ignorant of reality for the most part as I have my own problems that have little to do with anything outside my little life.
That being said, obviously I was quite enthralled as Bitcoin soared last year and looked as though it were an unstoppable juggernaut. It’s enticing because we as modern-day people enjoy records being shattered; and that’s just what was happening then. Now, things have turned the Kharmic wheel counter to its previous direction.
I was horrified at the thought that I’ve lost much of my crypto; but that has nothing to do with the current crash/correction that we’ve seen. Mine was due to my Bittrex account being hacked. But that’s another story.
I was, however, intrigued by this downturn in Bitcoin that has “Ripple”d (pun intended) to the other virtual currencies and tokens. Not many remained unscathed by this. It got me thinking and reading up a bit. So it sounds like governments are really hell-bent on trying to squash the power of Bitcoin. Can it be done? Will it happen? What are the Pros and Cons in these scenarios?
Honestly I don’t really know those answers, but I do know that Steemit and other cryptos have shown me a way to earn, diversify and grow my portfolio. So I’m going to keep adding on as I can and hold on for the ride.
Now, the only thing that’s newsworthy that I saw to make a dent in the power is this news story that led to the current crash. If you call it a crash, that is. I view it more as a reality check than a crash. Kind of like when a sports team has that one exceptional player that outperforms an stuns the competition. Rarely does that player continue with such greatness continuously and they end up “coming down to Earth.”
What happened with the virtual currency markets is the same. People were surprised then stoked, then it grew and blew up, then it became scary for some and they figured ways to pull it “back to Earth.” The great sports players are those that can push back to the top of their game even after the other teams are able to counteract their skill-sets. Personally I believe that Bitcoin is a great player in the game of virtual currencies and will begin to grow again after this reality check.
What are your thoughts on the Korean and Chinese governmental efforts for regulation? Do you think this pull-back is good or bad for crypto? I think it is good because it will allow me to afford more crypto!! If I were a buying type with enough to spare, this is where I’d be pouring in more money.
I am still learning about all this so for me your post was a chance to learn more from you as well as from the other comments. I am not sure about the governmental regulations and their impact. It is a question I have as well. I am utterly lost when it comes to all the exchanges still so I have not even attempted to trade any of my steem. But I like this idea. One day I will get over my fears/be educated enough to trade. When I hear horror stories of coin being stolen on bittrex , it kinda scares me off till I have more knowledge of how to stay safe.
If it doesn’t offer 2-Factor Authentication then look for other exchanges. That would be my best advice. And try to read up on some of the crypto currencies that are out there to see if they align with what you believe in. Honestly I just buy-in with dirt cheap coins/tokens so I’m probably not a very good role model for this lol.
Hi friend! I loved your post very eloquent and interesting, I lost what little I had a couple days ago, time to look for icos real ones arrgghh
It's always a journey, just like a microcosm of Life itself.
Bitcoin below 10000 dollars is always a good choice to invest in. I really lost the goldern opportunity to buy at that level but still I have some of them at 13000 level so holding them tight....... Any suggestions @dbzfan4awhile??
Keep on Steeming and do 50/50. That 50/50 will allow you to increase SP as well as earn SBDs simultaneously from your posts. What I have been trying to do is this:
This way, I can increase SBDs and BTCs, but also diversify my holdings (I usually choose dirt-cheap cryptos). If 1 or more of those cryptos skyrockets, that will be money-in-the bank.
As an example, I had 21K Units of RDD bought $.003 USD for a total of like a $75 price and it would now be at $.015 USD, which would be ~$315.00 USD... now think if that same amount went to $10.00 USD/Unit of RDD. At $10.00 USD/RDD, it would be nearly a Quarter of a Million Dollars. That's what I work towards, a belief that holding a diverse portfolio will be instrumental in my financially successful future.
That is a great idea @dbzfan4awhile which exchange should I prefer because bittrex according to me as a small investor is out of my reach because for every trading you have to pay 0.05 btc which was ok till the value of Bitcoin was under 1000 but now after bitcoin has reached 12000 approx you have to pay 8$ approx for each transaction.
Bro can you suggest me any cheaper exchange where I can transfer my sbd and buy some other coins. My first choice is cardano and stellar please advice bro waiting eagerly for your reply :)
I didn't have any Stellar but I did have Cardano. I liked it's movement. As for Exchanges, I'm not sure I just use Bittrex because it was accessible and fairly easy to use. There are many out there, but several have freezes on new customers as far as I've read. You'll just have to do some research on that and let us all know what you find.
Bro bittrex is also not allowed new users to sign up for new account thats the main problem I'm facing now because cardando is available on bittrex only where both sbd and cardando are listed....poloniex is only having stellar and verge but it does not have cardando listed in poloniex.... Is there any other possible alternative??
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interesting post ...
I got insight and knowledge..
I’m glad you found value in it.
China and Korea will definitely do what is profitable. But no one can destroy the coin market
I think we've already seen that even the power of China and Korea in the Bitcoin market has not crashed it fully, so I would agree that it's still pretty safe. I truly believe people world-wide wish to find a safe alternative to normal banking due to issues.
I think the coins will be out in February. Now you can get coin
What do you mean the coins will be out? You think Bitcoin's total supply will end in February?
good post friend, keep it up !!! interesting bitcoin theme
Thank you. I wonder how many people stopped using Steemit once the crash started to affect the prices of STEEM and SBDs. Any thoughts on this?