And we all know it
I was having a conversation with a person from my family environment the other day about the blockchain technology and BTC in particular. He happens to be a very intelligent and hard-working person, with a degree in Finance and Economics, years of experience and a very strong CV. However, he holds no Bitcoin. At all. Not only that, he also has no clue about the technology behind this revolutionary transaction system and the benefits tied to it.
I have held many discussions with several people with an academic or professional background in Finance and Economics, and the vast majority of them just refuse to accept that BTC was a huge opportunity they missed, and also one that they should have been able to notice and predict. Thus, they all tend to spout gibberish about how BTC is a bubble, because denial is their last resort, and it's probably just a defense mechanism they use without even noticing.
On the contrary, my guy is not this type of person. He has realized that the situation with the cryptosphere is getting very serious, and has been trying to get as much information as he can from me in regard to BTC and the blockchain technology ever since. Of course I do my part and share as much info as I can, but the more he realizes I've got knowledge of the game acquired through years of study and observation, the more he keeps asking me questions that more or less demand answers that could be perceived as financial advice.
And even though I am indeed very bullish about cryptocurrencies and the future of the ecosystem, I really wouldn't like to ever tell anyone how to use their own funds, because oh well... I don't have a crystal ball. And this is also why I always advise people who read my investment-oriented publications to never take my word for their investment choices and always do their own research on the matter, as nobody really knows what the future holds. It is all speculation at the end of the day.
So, the conversation I mentioned in the very beginning took place when BTC was sitting at the $40k mark for the very first time in its entire history. A few days later, after the market correction that followed, he messaged me on facebook, saying how he had been expecting that, and that had it not been for that correction people would have started calling it a bubble. I laughed, told him it's exactly what people did when BTC hit $50, $100, $300, $1000, $3000 and so on, and showed him the following chart.
In the image above you can see the most accurate Bitcoin price history chart I could find on the web. Do I really need to describe it? I will just say that 12 years after its conception it is still hitting all time highs and breaking one record after another. You could have bought in at any particular point in time during the course of those 12 years, and you'd still be in for some profits today. And the best part is that it has and will always have a limited supply. Can you say the same about fiat money? We all know the answer.
You can safely store and transfer a fortune without having to worry about losing your hard-earned funds to another economic crisis, or getting robbed by banker commisions and greedy governments. As long as you keep your tokens in a cold wallet, nobody can steal them from you. Your keys means your coins, and cryptography is your powerful friend. That's what technology should be about: empowering and liberating the people.
In the near future you won't even have to cash out your holdings and switch them to fiat money in order to pay for the goods and commodities you wish to purchase, or the bills you need to pay. More and more companies are already accepting cryptocurrency payments, and this is certainly going to become mainstream over the next decade, especially considering the global tendency to gradually eliminate the use of physical money shown by the vast majority of western governments.
It is no longer a secret, as governments are already publicly discussing this scenario, making it more than obvious that it is part of their agenda to ultimately digitize each and every transaction taking place. This would give bankers the upper hand, as they would be handed total control of our lives in the name of safety. And guess why this will never happen. You guessed right, because of the cryptocurrency industry. The people now have a reliable peer to peer transaction system, and the government can't take it away.
In case you forgot, the previous BTC halving event took place recently, and we all witnessed the rally that followed the next few months. Maybe it's still under way, no one knows. What I do know is that with every halving event, there's even less BTC being mined, and as the years go by, more and more people are getting interested in this internet money thingy. Maybe you will find this funny, but I really do believe that two halving events later BTC will be sitting at seven figures. Just wait 8 more years before you label me a dreamer.
Some super technical folks into analysis are saying that the next bull run will make the price history chart up until that point look like a flat line. Maybe these guys are heavily invested in the project, but I don't think this scenario must be ruled out. It's possible, and only time will tell. One thing is for sure though: soon the people won't even have another safe haven for their hard-earned funds. Cryptocurrencies will be their only alternative. And they are already starting to realize this.
Thank you for your time
Dear reader, this is by no means financial advice. I am only sharing my personal views, and you should never take my word for your investment choices. Always do your own research before investing, and never invest more than you can afford to lose. Thank you for reading this far.
I appreciate your attention,
@lordneroo
thanks for this informative blog