Stop Watching Bitcoin Videos.

in #money6 years ago

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I'm not talking about the videos where hosts interview people in the blockchain space about their projects and what progress has been occurring.

I'm talking about the ones with these titles:
- MASSIVE MANIPULATION EXPOSED
- Bitcoin's LAST CHANCE?
- US Dollar DESTROYED, Cryptos TO THE MOON
- Other massively sensational, emotional videos designed to freak you out into buying or selling.

Sound familiar?

If you're not a trader, don't watch short-term price videos. It's better to just chill, buy some Bitcoin, use it if you wish, and hold onto it if you don't. I believe that we will need something like Bitcoin and Litecoin for the coming transition, and so the price will go up as more people come on board.

But stop worrying about the price, the people shorting the market, the people shouting that it's going to crash and burn AND the ones saying it'll hit a million dollars by 2020.

Stop getting freaked out about what countries halfway around the globe are doing to ban all crypto exchanges and dumping your Bitcoin because "GOLD IS THE ULTIMATE SOURCE OF VALUE."

That's how you end up with a bunch of gold in your closet and you have no capital to really work with because it's all tied up into things you see will have a higher price, but you're saying, "Okay Jim Rickards, what now?"

There's a reason why they all say that none of it is to be taken as financial advice. Even if you have a ton of silver in your basement to whether the financial apocalypse, what good does it do if you've converted all of this cash into hard assets, and you still watch these videos daily because "the world is going to shit and I have to know what's going on"?

Yes, it's a good idea to be informed. NO, it's not a good idea to give your power over to other people online trying to sell their crypto school or exclusive silver group based on the premise of making money.

What are your values? What do you want out of this?

Getting rich off of Litecoin 20x'ing gives you a lot more capital to work with yes, but when you land 200 thousand dollars off of selling them, are you going to be prepared for using it correctly, or is it just a means to spend it all on more junk, except now you didn't have to work for it?

Really, think about these things, because this is where I am now with this. Digital currencies ought to be a tool, and not something to toss money at based on sensational headlines.



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