But everything is about to change.
900 years ago, the Roman Emperor Markus Aurelias said; "An empire does not fall by invading enemies tearing down the gates. No, an empire can only fall if its people stop believing in it".
This is why I laughed when a friend of mine said , "the Government and the banks will destroy Bitcoin"
I replied: "The only thing that can destroy Bitcoin is Bitcoin itself"
The civil war between Bitcoin and Bitcoin Cash is creating an environment of FUD . Fear Uncertainty and Doubt.
as well as an unhealthy rivalry. I even hear seasoned traders talking of Bitcoin possibly falling and Bitcoin Crash succeeding. This shocked me because some of these traders I follow and I have a high respect for their trading knowledge. But then I realised that these traders are young. They might understand the fibernacci code but they do not know so much about the human condition. They lack life experience. And real life does not always follow the fiberancci code.
I am not young, but I am not old either, and time has given me life experience in the area of how human-beings react when it comes to money. And what I have learned is that in certain circumstances, people who are normally logical, can throw logic out of the window and act irrationally.
This is why when Segwit2x was cancelled, the first thing I did was to buy thousands of dollars worth of Bitcoin Cash. My instincts about human nature (and money) told me that Bitcoin Cash would have a sudden rally.
Now the thing is, I wrote about my thoughts on this on certain Crypto YouTube channels. However, the reaction I got shocked me. Ridicule and even scorning. Some comments were not nice at all: "fck off you Roger Ver lover" Now the thing is, it was clear to me that my comments were taken completely wrongly, for I was not saying that I wanted Bitcoin Cash to win, or to lose for that matter, all I was trying to say was that I believed that this was going to happen and I was simply sharing because I wanted people to make a profit off the BCH rise.
I was told - "the fibernacci code says differently" . Well it seems the fibernacci code has been temporarily flushed down the toilet.
Well as usual, I always do my own thing. My plan was to buy BCH, ride the Tzunami and then sell high and put my money back into Bitcoin again.
For as much as I knew BCH would rise and BTC would go down, I also knew that Bitcoin would : "come back with a vengeance" How did I know this? Well because of Markus Aurelius.
Belief in Bitcoin goes deep and as long as this belief remains then it can not be destroyed.
And so when I wole up this morning ad saw BTC had risen again from the ashes I was not surprised.
I have made a ton of money over this sega even though I would prefer it had not happened.
But I have learned a thing or two about money. It is often said that; "Money never sleeps". But there is another thing thing I have learned too. Money does not have an opinion either.
However, the days of Bitcoin dominance are numbered and the rise of alt coins are coming. Wh?
How do I know this, well again you can either laugh at me, ridicule me, or you can listen and take advantage because everything is about to change.
Here is why.
To explain this, first we must take a step back and see why Bitcoin, and now Bitcoin Cash, has so much power.
It is all to do with access to the outside world.
In order to get "in" to the cryptoSpace we usually have to buy Bitcoin. Once we have Bitcoin we can get into the exchanges and buy altcoins and trade them against Bitcoin etc.
If we have made a profit then we can either keep our "money" in the cryptoSpace, or take it out in to the "real" world of fiat money (dollars, pounds, yen, euro deutschmark). If we have bought alt coins: Dash, IOTA, Ethereum and so, on. then we mostly have to sell it for Bitcoin in order to get it out. Although this situation is improving, it is still pretty much dependant on the ecosystem built around Bitcoin. This has created a bottleNeck affect.
All this is about to change
In the very near future there is going to come a whole new wave of "crypto currency exchanges" in the crypto space that are being built to make it far easier to get your money in and out.
In my opinion this is going to affect the dominance of Bitcoin.
I do NOT think Bitcoin will die, it will survive and become even bigger, not because it holds the keys, but because of its brand.
However, these new cryptoCurrency exchanges will, in affect, be giving a set of keys to the outside world to all the Alt coins so that they do not need to go through Bitcoin.
Here below is an example of the kind of cryptoCurrency exchanges I am talking about.
CryptoCurrency exchanges like this will change the state of the cryptoSpace in a dramatic way and cause a boom in the price of alt coins. I think we are on the cusp of new beginnings of a creating a type of world wide stockmarket style trading. Normal stockmarket trading is pretty much controlled by a handful of people. Even GoldmanS achs admit this. However, although we have seen some market manipulation over the Bitcoin Cash price, the cryptocurrency market is still pretty a free market.
It is the wild west out there.
And why do people like the wild west?
Well because it is exciting and fortunes can be made.
I believe we are on the cusp of a new era in the CryptoSpace
lWith these new kind of cryptoCurrency exchanges (and did you also see that they will have zero trading fees) then the cryptoSpace is set to explode and so there has never been a better time to invest in crytpo-currencies.
For I do not think we will ever see these low prices ever again.
What should buy?
The best advice I could give would be to ask yourself two questions:
1) What cryptocoin offers something that the future needs. Does it fulfil a need?
2) If you believe in the project.
I will finish by saying that this is all only my own opinion and not financial advice, so always do your own research and decide yourself. But I will say that I have a track record about such things and I always put my money where my mouth is. However, if you disagree then please let me know and we can have an intelligent discussion over it.I am always open to expanding my knowledge so I can make better informed decisions.
To finish: I sincerely ask that you refrain from insults and mocking. Thank you.
What I write is merely my own thoughts from my own life experience.
If you like what I post you are very welcome to follow my blog.
A friendly upvote is always appreciated and a resteem I see as a gift.
A warm welcome back in advance