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I'm happy with whatever these days because I am still in accumulation mode. There are so many promising projects I'm looking to improve my position in, so a red day close to my payday is like a gift from the heavens. It basically means that I still have the chance to acquire more crypto at a discount, and being the firm believer in crypto's future that I am, I always take advantage of a little dip and buy it. The internet changed the way we live, and now it's time for the internet of money to do the same. This is the thought process that helps me stay positive on a red day like this. As a matter of fact, this is why I love corrections.
Now please don't get me wrong, everybody loves the bull market; it makes everyone happy and it's great to see my efforts bear fruit, but also comes with a lot of fear of missing out. It's crazy but this is human nature, and therefore, the bull market can be a pretty stressful period as well. Personally, it makes me wonder whether I've made the right choices, and also makes me want to trade more and ride waves, which is definitely not what I've decided to do with my assets this time around. But it's easy to get carried away when a hyped up crypto you aren't holding starts to skyrocket. At least that's what goes on in my mind.
I'm in control though so I always stick to the plan, which is to hold my bags and refrain from trading at all costs. I do realize investors want to ride waves, but I can't say I am an investor yet. I'm just doing whatever I can to get my hands on some crypto, and use my salary to add more to my portfolio. I've picked some hot projects and am planning to stay committed for the long haul, so I'm not really looking to make money in the crypto game this year or the next one. I'm in for the next 5 - 10 years, and that's because I'm convinced that the crypto industry will keep blowing in the next two decades.
In this way, my involvement in the game is a win-win situation at the moment, because it gives me the opportunity to either increase my net worth or improve my position in some of the best projects out there, which in return will allow me to increase my net worth in the long run. It is literally still early in the game; the revolutionary technology behind it all was only invented twelve years ago, which basically means we haven't seen anything yet. The total crypto market cap hit the $1.7 trillion mark for the first time twelve years after the birth of Bitcoin, with the token still hitting new all time highs and breaking one record after another.
Nowadays we have Wall Street sharks, influential individuals and payment giants getting inerested in the game, and I can't help but think that the cryptocurrency industry will keep growing exponentially in the years to come. Technology has enabled us to produce more wealth, and this amount keeps growing every year, with the internet being at the core of this development with a market cap of tens of trillions. If you look at the world's billionnaire list, you will notice that the majority of the new additions come from the internet world. The internet has allowed us to monetize information like never before, and now we live in an age where we can generate income for everything we can do, say or even think. And this is all thanks to the worldwide web.
The cryptocurrency space is the internet of money, and just like the worldwide web unified all communication methods we were using before its inception, I believe that the crypto space will eventually unify the ways in which we communicate value to each other on a global scale. Cryptocurrencies are more than just assets, because they provide us with tools to communicate and exchange value we never had before, and it's only reasonable if the majority do not understand this yet, as even Peter Schiff doesn't for the time being. We are talking about a realiable peer-to-peer transaction system that not only works, but also provides opportunities never seen before.
There are cryptos you can use to transfer billions of USD anywhere in the world in less than 5 seconds, and you would have to pay less than $0.001 in transaction fees, with HIVE and LEO being prime examples of this revolutionary technology. Banks just can't do that, and the people do not yet know it's even possible. Considering that this is only the beginning, I can't even begin to imagine what we will be able to build around this technology in the near future. After tokenizing trust and information, we will probably find a way to tokenize real life items, taking the crypto game to the next level and coming up with solutions to problems that have stalled our development as a species.
These are just some of the reasons why I am a long-term believer, and I believe they are more than enough to convey the message that the world is changing at a high pace. The crypto space is already acting as a catalyst for advancement, be it economic or technological, and I think it's safe to assume that the game is still in its infancy stage, especially considering that the vast majority of internet users do not know a single thing about this internet money thingy. Even the majority of those who mine and hold crypto think it's internet money, when in reality it's the internet of money, as explained in this insigthful speech by Andreas M. Antonopoulos, which I highly recommend to anyone looking to broaden their knowledge of the cryptocurrency space and the technology behind it all.
This post summarizes why I'm very optimistic about the future of the space, and explains why I can appreciate a red day like this one. I'm convinced that there is a bright future ahead, and a slight dip is nothing but an opportunity to acquire more at a discount. Of course this is by no means financial advice, as I'm just sharing my personal views and experiences. You should never take my word for your investment decisions; always do you own research, and never invest more than you can afford to lose. Oh, and never put your eggs in one basket. Always remember: not your keys, not your crypto. Thank you for taking the time to read this far, you rock!