The crypto universe is designed to be open, open source and decentralized, but does it bother you that the creator is still a mystery?
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Satoshi Nakamoto created Bitcoin. The first coin that spawned the ideas and concepts for all others to follow. The thing is, we know nothing about the person or people that call themselves Satoshi Nakamoto. I have read in many places that he also holds a million Bitcoin. That's worth billions. Plus other forked coins.
That person or entity has world changing money and it is only growing.
The idea that we can still create money out of thin air, which is basically what we are doing, has me worried slightly for the long-term vitality of the crypto universe. The unknown causes some doubt, some skepticism in my mind.
To be honest, I'm still in. I will continue to use this incredible platform and buy, trade and sell cryptos. I'll use them when I and help to grow the community the best I can. But there is this little voice in the back of my head telling me to be cautions.
At first I tried to block out the voice because I was enamored with the crypto world. But now, since my early day investments have gong way up, I have more to lose now. I don't want to lose what I've gained, so I am trying to be careful.
The voice kept telling me that I shouldn't do Bitconnect. I had the money back in November after the Bitcoin spike and almost started loaning three times. All three times, I left and never pulled the trigger. That voice was just telling me to be cautions.
Cryptocurrency is like a minefield right now. If you stay in it long enough, you're going to take a hit somewhere. It is going to be hard to go the long run with coins failing and projects getting hacked and stuff. It's important to diversify, but it is also important to listen to that voice in your head.
If something seems too good to be true, it probably is.
Steemit seems too good to be true, until you realize the amount of work it takes to be successful on here.
So I'm not saying that crypto is bad, not at all. I am saying that there are things like not knowing Satoshi Nakamoto is one of them. Listen to the voice in your head and be smart with your crypto endeavors. This is a wild, volatile world and almost anything could happen at anytime.
Does the mystery around Bitcoin's founder bother you at all?
Let me know in the comments below.
Thanks for reading.