Before we begin just know idk what came over me but I just decided just write this thing lol.
Why you shouldn't get involved with crypto currency's?
That question stems greatly from a misconception about inflation of our modern day currency's as supposed to researching the plausible solutions for future ideas or even what the uses for cryptos have in store for us.
Most people seem to think that bitcoin is in a huge bubble, holding the largest market cap sitting at $44,460,292,332 (as of the time of this writing June 12 Hawaii at 8:15pm )amongst the cryptos and the foundation for the market as a whole.
But seem to not consider what other use cases the block chain technology may have.
The best example of this is the second largest by market cap in the crypto space ether aka Ethereum
Sitting at $36,426,274,60 on June 12 8:25pm.
When you just look at what it's used for, it actually isn't even a coin rather it's more like gas for the network.
Here's a quick quote from Ethereum.org.
"Ether is a necessary element -- a fuel -- for operating the distributed application platform Ethereum. It is a form of payment made by the clients of the platform to the machines executing the requested operations. To put it another way, ether is the incentive ensuring that developers write quality applications (wasteful code costs more), and that the network remains healthy (people are compensated for their contributed resources)."
Couldn't say it better myself lol. But in the serious of the matter. If you wanna just think of it in I guess in a monetary aspect of the platform.
If your a gold and silver bug then you know just as well as everyone else that the insane Psychopaths that run and manage the Ponzi scheme we call the economy in the General sense. Is there to maintain manipulation over all markets and all aspects of life GMO's, education, oil, and lobbying of Congress, stocks, bonds, and the internet etc
Just to name a few, but the ones that might blow up the system could be gold and silver. Silver especially because of how long it has been suppressed and of just how little supply is available. Gold silver and bitcoin are all threat's to the global Ponzi system. If suppression lightens up even by a small percentage in silver we could get something like $25-30 an ounce we could see 2-5 dollar moves in a matter of hours.
It would then Very likely shoot the price of our current price to all time highs, just look at the prices of the cryptos over the last 6 months alone without realizing bitcoins potential for obstructing the dollar, the bankers have unwittingly made a small problem big. We have seena massive explosion of USD investment surge into the space from $1100 a bitcoin in January February time to $3000 on June 12.
A good idea may be to accumulate some bitcoin convert it to USD and buy silver or gold, when the price raises and buy when it goes down. Just like trading your watching and making money along the way.
For myself i just hold for the long term, here in Hawaii its a bit confusing getting into the space I was fortunate enough to buy from coinbase before they left late last March-april time.
Don't think of bitcoin and the cryptos as a Ponzi scheme there are many cryptos out here last I checked 700 of them. However so long as China and India the world's largest population's have a serious interest in the space it means it's here to stay and change the way we transfer wealth across the world.
Too quotes from Wikipedia on bitcoin.
"As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment.[21]According to research produced by Cambridge University in 2017, there are 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin.[22]"
This would mean it's a growing market with a huge consumer base means capital and interest is involved with the cryptos.
And to have a monetary system the transaction of money must be scarce an a storage of value & fungible.
Bitcoin can be divided into smaller pieces, it is very likely a store of value because it is becoming treated as a commodity like gold and silver.
"12.5 bitcoins per block (approximately every ten minutes) until mid 2020,[13]and then afterwards 6.25 bitcoins per block for 4 years until next halving. This halving continues until 2110–40, when 21 million bitcoins will have been issued."
My advice buy some even $200, buy It and just leave it if it goes up or down then you don't care because you are just speculating on the price, go with the investment mind set, I think the price will go up but if it goes down I wouldn't care anyways because you was just testing the waters.
Anyways guys hope this helps you think about bitcoin as a alternative means of wealth. This was just an idea of mind there are tons of better people to listen to for advice on the network cliff high, jsnip4 and Andy Hoffman, ,Bix