Acquire Crypto Technical Skills
Are you worried that the Bitcoin Cash price is coming down? All other cryptocurrencies are also going down at the current time.
Image 01: Screenshot with "BCH crypto graph" as the search text (Jan 22, 2022) https://search.brave.com/search?q=bitcoin+cash+crypto+graph&source=web&rh_type=cc&range=5y
But, nobody can do anything to stop cryptocurrency price going down.
The cryptocurrency price will fluctuate. So, please don't worry about your cryptocurrency investment.
Your cryptocurrency investment will remain the same and safe as long as your private keys are protected and not lost.
Crypto price is inherently volatile. There is no need to worry and ask about it.
Instead, I may take the freedom to request you to ask yourself a fundamental question and undertake the necessary step to prepare for the future.
Come out from the bubble of hypes.
Come out from the bubble of hero-worshipping.
Are your private keys safely preserved? Take care of the private keys.
Take off the so-called "crypto-enthusiast" jacket, and be brave to learn some technical skills that are essential to protect your cryptocurrency investment.
Please keep your basics clear and crypto strategies straightforward.
Above all, try to be honest in whatever you do in your crypto life.
Cryptocurrency is not hype but a technology
Image 02: Screenshot of a part of BCH Logo download page https://bitcoinbch.com/resources/logos
Although crypto prices fluctuate with news hypes, the essential function of every cryptocurrency is governed by the associated technology and applied real-world use cases.
Unless there is a solid use case around the cryptocurrency relevant to solving some real-life problems, the cryptocurrency won't succeed in mass adoption.
The associated blockchain protocol of a cryptocurrency does all the tricks in crypto transactions. If the blockchain protocol of a cryptocurrency is not matured enough to tackle a large volume of transactions in a short span of time, the cost-effectiveness of the cryptocurrency won't have any impact on the market.
Bitcoin being the first cryptocurrency, got a huge market cap. But, the Bitcoin blockchain can't handle a large volume of transactions, and the fees for a transaction are also high.
In the long run, there would be many hard forks, such as Bitcoin Cash, those are spirited enough to make innovations in the blockchain protocols. Bitcoin Cash can handle many transactions and has lesser transaction fees, making it suitable for micro-transactions.
A hero or celebrity can't control any cryptocurrency
Image 03: Photo by Crypto Crow from Pexels
Whatever respect the people have for the celebrities only helps them get attention and sell their products. The cryptocurrency domain doesn't benefit by creating a new media hype around stars.
In the past, I read news about celebrities endorsing certain cryptocurrencies. Some people think that cryptocurrency is an item that can be promoted by a celebrity!
There was news that Elon Musk announced accepting Bitcoin in sales of their popular electric vehicle Tesla. Some people bought Tesla by paying via Bitcoins. The transaction volume of Bitcoin rose for a few days. Then, Elon Musk stopped accepting Bitcoin for selling Tesla.
The price cap of Bitcoin went up, and then came down followed by Elon Musk's accepting and not accepting Bitcoin for Tesla sales.
Adopting a cryptocurrency may add to its value towards people adopting a particular cryptocurrency. Bitcoin Cash has been accepted via many stores in different parts of the globe. That is a positive sign, and it may undoubtedly propagate the value of Bitcoin Cash.
Invest time and money to acquire technical skills relevant to the cryptocurrency domain
Image 04: Photo by Tima Miroshnichenko from Pexels
I know most of you won't like my words about technical skills for cryptocurrencies.
Many of you would ask, "How much crypto transaction did you do?"
Most of you may think you are sufficiently expert in the cryptocurrency domain. You have managed so many cryptocurrency wallets and earned so much BCH and other crypto coins. Most of you are playing with the cryptos for quite some time (I mean years). You have got some sort of complacancy.
Some or a few of you might own a decent amount of cryptocurrencies. You might have some technical skills to manage cryptocurrency wallets.
But, no expertise is enough to manage critical issues of cryptocurrencies.
Many billions of dollars worth of cryptocurrencies are lost forever due to private key issues. In most cases, either the owner/investor lost the private keys or the owner misplaced the private key due to software updates in the computers/devices.
Predictive Conclusion
Protection of private keys is VERY IMPORTANT for a crypto investor.
Preserving private keys is the last MOST IMPORTANT job of a crypto investor.
All your crypto assets are lost forever if you lose the private key!
A private key-loss case can completely ruin your happiness in the crypto domain.
To prepare for a happy crypto holding, all crypto investors (quasi-experts, experts, and enthusiasts) must invest some time and money to acquire the basic technical skills for maintaining crypto wallets and preserving the private keys.
Postscript
I am a hardcore practitioner of STEM fields. I am a solution architect for password and cybersecurity relevant to the blockchain and cryptocurrency.
I consider a cryptocurrency only as one financial instrument.
Cryptocurrencies are nothing more or nothing less than that.
I invest quality time in earning new technical skills relevant to cryptography.
Watch out for my posts on safeguarding the private keys of crypto wallets.
Cheers!
Lead Image: I created the animation with my texts and Photo by Worldspectrum from Pexels. Sources of all other images are mentioned below the respective images.
Disclaimer: All texts are mine and original. Any similarity and resemblance to any other content are purely accidental. The article is not advice for life, career, business, or investment. Do your research before adopting any options.
Unite and Empower Humanity.
I am also on noise.cash ... click the link if you are there.
January 22, 2022.
