Welcome Steemers, Dtubers, Dsounders, Dlivers…and all the others.
Always wanted to trade titanium or some other precious metals the space industry works with. Always thought it was the future. But entering this market was way out of my league. Few years back, my best friend and I talked about buying BTC but if remember correctly, the investment went into video equipment. If only i had paid more attention, I'd be rich.
Then, mid December I talked to an ex girlfriend. She reminded me about BTC, LTC and she even mentioned XRP.
I started searching about BTC and LTC. At first, it was confusing because there was a lot of information to ingest. What coin to buy, where to buy, when to enter the market, understand and choosing wallets. I finally used a referral link that led me an exchange where the fees are high but easy to set up.
I bought my first $100 worth of Bitcoin a week or so after the "Holy All Time High of December 2017". Damn wrong time to buy.
I had a budget to start with. I proceeded with buying twice $50 of Litecoin. That's when anxiety, desire to make some cash and fear to lose it all stepped in. That is what crypto does when you start. It plays with your emotions. I registered in few others exchanges and bet on some coins (did few mistakes such as buying coins and being stuck with them) with little amount so I could learn. It was a good move because I figured out about the transactions fees, the minimum transaction some exchanges require, depositing and withdrawing from exchanges to exchanges. Most important, I know I have to research about a coin before I buy it.
After a week, it took a little toll on me because I was staring at the graphs all day long waiting for it to go up. I was also reading articles all to learn, to organize and plan my next move. Meanwhile, I was trading ETH/BTC and even made little profits off the fluctuations. But it is very hard to catch the wave and surf it.
Lately (and correct me if I am wrong in any of the following statements), the cryptocurrency world has had to face few obstacles.
First, China restricts or bans the mining of cryptocurrencies by limiting hardware import used to build mining rigs. Decided to break BTC's reputation, the news promote the cryptocurrency as a bubble with high risks of crash and extremely high volatility. Then South Korea closed exchanges to apply pressure and finally regulates the market with tax on cryto investors up to a quarter to their profits. Bitcoin also faced the CME futures contracts that bet on a lower price of BTC. It was apparently an attempt to manipulate the market. If i understood properly, few entities and whales wanted to bring the price of Bitcoin really low hence make a lot of profits. They bet on panic which involves emotions. And emotions are bad for trading because it brings fears. But I guess the joke was on them. People know what they hold, its value and they apparently said stop at 10k-11k per Bitcoin.
Let's add few toppings on that ice cream with Prime Minister May warning about the dangers of cryptocurrencies in Davos and yesterday's hack of an exchange market (plus the previous ones). You got some more toppings to add, please leave a comment.
This shows strength and confidence my friends especially knowing that a second wave of CME futures was expiring on the 26th of January.
From a beginner's eyes, Bitcoin seems very strong even after being beat up and rolled over many times.
Now for the good news and among all, JP MORGAN CEO stated Bitcoin was real and said he was wrong to call it a fraud. Bitcoin improves by developing and implementing a faster network for faster transactions with the Lightning Network. More and more businesses apply to deal with BTC and ETH. In a near future, Amazon may add LTC to their payment options (Paypal took the same road). Please feel free to add more good news.
Now let's travel. Africans are very keen on cryptos. They store their money in E-wallets because they cannot trust their governments and the banks. South America, Brazil, the city of San Paolo experiments a system that would help to pay for the infrastructure with cryptocurrency. New Zealand is already in the game because they regulated cryptos and understood their beneficial impacts on the economy. Bitcoin and Etherum grow rapidly in popularity in India, Japan and is adopted as a payment method in many others countries throughout Europe and North America.
Bitcoin is still an underground movement...it is still in an implementation phase. Bitcoin is a baby growing really fast. At the time being, only few lucky hold cryptos. Bitcoin is just entering in an area where institutions, the public, the people, the mass will get involved in it thus rising its price without inflation. It is like a limited edition of a Mustang Shelby. Note that registrations peaked for over a month now and some exchanges cannot handle all these requests. It can take up to 3 weeks to be verified.
For me, Bitcoin follows the same pattern than a revolution, such as the rise of the internet, which slowly grows until it gets enough acceptance to become mainstream. That’s why I believe Bitcoin will live a long time. Maybe go to the sun after it reached the moon.
For the skeptical, do your own researches, but don’t miss that train because in just a few months, the next ones won't be as affordable.
If I think about it, the funniest part is that we really buy and sell a bunch of 0s and 1s lined up in a code and encrypted with complex algorithms. Behind that concept, people found a value in it and it will modernize society.
To visualize every blocks and transaction created please visit this interactive map:
https://blocks.wizb.it/
https://www.coinbase.com/join/5a3eaeda780fbe0108f9385b this site is related to Gdax
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Thank you Mister Satoshi Nakamoto. Whether you are real or not, you will be remembered in history for changing the world.