Take my money, I want to ride the Crypto train !!!
The money flooding into crypto now has gone totally nuts and it shows no signs of stopping anytime soon.
Bitcoin was created after the 2008 world wide financial crash as an opposition to the corrupt bankers and people on Wall Street. The early adopters truly believed it could change the entire system.
Fast forward to 2018 and the sheer volume of people on YouTube saying I just got 50,000 "insert coin of the week name here" and it's going to the moon is growing by the day.
It's a self fulfilling prophecy. If you have enough followers and you say, hey coin x is going to $1 and all the followers then believe this and pump money into it the price goes up, others see this coin is rising so they also do the same and before you know it the YouTuber who said it would get to $1 was totally right and now what they say in the future is gospel.
Most people are not buying into crypto to change the world, they are doing so to simply change their world and I'm not saying there is a problem with that, but we need to realize that most of these alts will never ever do what they say they will. I mean look at Tron, it's ambitions are crazy and are very unlikely to ever happen to completion, yet the coin has pumped all the same.
My point is one day when we actually step back and look at our holdings of coin x and coin y and the new coin of the future coin z and question where the hell is the actual value? we will no doubt see there isn't actually any.
I mean look at Ripple, it went nuts because people thought it might get listed on Coinbase and therefore be worth more money!!!!
That was it.....!
I'll buy it because in the future someone else will pay me more money for it. If you actually look into Ripple you will see that the banks don't even use the token to do anything with, so how has Ripple sitting in your wallet have any value?
Like I say if you want to make money from crypto then I have no issue with that at all, but we need to understand that most people are in simply to make money and if you actually look into it all then 99% of it is pretty worthless.
I have been wrong before and that was with Steem when I said it wouldn't get to $10 (I know it technically hasn't but near enough). This is one of the exceptions to the rule as it actually has a use and is proven to work, but most of the others are just pure pump and dumps. (The fact that sentence is now common place says it all, "It's probably just another pump and dump coin")
What is the point in this post? Basically what I am saying is make sure you at least get out what you have put in because you don't want to be holding 50,000 coins that end up being totally worthless and trust me there are plenty of them out there.
As usual thanks for listening
Happy Steeming Steemers and Steemettes.