Hello reader...today makes it exactly one week and a day into the new year and Bitcoin is still not dead, neither is Steem. It is exciting that majority of the people who said Bitcoin will not see 2020 are starting to eat their vomits, and Bitcoin still doesn't care, you can't hate to love Bitcoin. This post will be my first submission to the Steemleo weekly contest, with this weeks contest titled "What's your most heavily weighted investment sector and why?"
Recently I made a post describing 2019 as my year of investing. In 2019, I watched my tiny purse grow into a basket of various cryptocurrency's due to my adventure into the world of Blockchain technology, for this, it goes without saying that my most heavily investment sector goes to cryptocurrency's, moreover, I'm a typical Millennial, investing in crypto's is more appealing than investing in real estate, and with the way things are going especially on Steem blockchain and in the world, I'm just getting started.
So this is where you ask, why Cryptocurrency? Cryptocurrency's highly fascinate me, more than any typical currency, each of them embody a world of possibilities in this digital age, look at Bitcoin, the currency empowering the Bitcoin blockchain, how about Ether, Ethereum blockchain's cryptocurrency serving as an important tool in redefining the traditional finance into an hybrid system- DeFi( Decentralized finance system), there are a myriad of others revolutionalizing the way we do things. Crypto's revamp the concept of the typical currency beyond "a common store of value and mere medium of exchange".
How else can you explain the existence of a type of money that can be used to represent your stake in a particular ecosystem and is fungible, even more, it can be earned, traded(even for fiat), used as access to a myriad of applications and services that impact our everyday lives financially albeit digital, while giving us control of our privacy? Did I mention the ability to also earn more of "it" by holding(staking) it without the intervention of the traditional banking ecosystems filled with the dirt of centralization?
Cryptocurrency's also transform the ownership of money as a commodity into ownership of money as a tool, albeit digital. In the conventional economics there is a system of money as a commodity , that is a system where an object serves as a currency, but how can such system be truly accountable? Transparent? Immutable? Secure? By equipping such money with the props of a standard blockchain, when this is done, such money becomes a tool, a digital borderless tool, a cryptocurrency.
Cryptocurrencys also gives hope to the death of centralization. Our world today is infested with data exploitation by our largest tech companies hiding under the umbrella of monetizing of some aspects of users data for running operational costs, how about mass censorship and infringing of privacy, we see all this happening today, they possess this power/authority due to their centralized nature.
How about a decentralized system built on the basis of transparency over trust, or freedom over "security" and the ability to easily and quickly verify over dependability?
For such system to exist, there needs to be an economy tied with a currency as a source of incentive for empowering the infrastructure of such running economy, this is similar to miners earning bitcoin for verifying blocks on proof of work(POW) blockchains like Bitcoin and Ether on Ethereum blockchain and witnesses at proof of stake blockchains e.g Steem blockchain. Here, not one single entity is the authority, powered by cryptocurrency.
While these even only cover very tiny aspects of the extent of the capabilities of a Cryptocurrency, if they don't fascinate you, I wonder what does.
The Icing on the cake here is the fact that cryptocurrencys can be bought and owned in tiny fractions, I don't see you doing that with Real Estate, while you can totally own 2$ worth of Bitcoin, or Steem or BNB, the list goes on, hence, there is room for diversification, so why not if not.
I'm also heavily invested in cryptocurrency because they actually do hold the possibility to immensely impact the state of my finances, if I bought a 1000$ worth of Ether when 1 Ether was sold for 10$, Ether rose to an all time high of 1,450$, lets assume I panick sold at 500$, that is 100*500 = 5000$. What if I held till 1000$, you can do the math, anyway, I was simply unaware that such things were taking place, the idea is to not let such chance slip away again.
And really, what does it take? Identifying a valid project solving a major problem, if it's revolutionary, even better, if its new, even best, there are perks for early adopters, ask investors who invested in BNB at 0.8$, or Bitcoin when it was traded for a box of pizza. That's my strategy, identify and go all in, no matter how long it takes.
I like the control I get as an investor in cryptocurrency's, unlike the majority of other sectors or maybe I just feel so because I haven't delved into them yet, but I doubt any of them will give me the feeling of being a part of something bigger than myself the way I feel with the cryptocurrency's I'm heavily invested in and will like to invest in.
Thank you for reading, I could go on but...whatever...stack some coins and be like me.
Disclaimer
This is no investment advice but my personal view and choice, kindly do your own research to avoid stories that touch.