In my circles, almost everybody is saying that crypto world is, at best, a big bubble, and it would burst soon. At worst, it is the biggest Ponzi scheme ever created in the history of humanity. Every cryptocurrency has only one aim: To fool millions of people all over the world and take their money. I don't try to convince them, don't even start any discussions. I just smile and change the subject. Why? Because all these things look like deja vu for me.
I am in my mid-forties and worked as a developer for several companies, including those that are well known today. I also owned some shares of blue-chip tech companies. Everyone around me, including those who claimed to be experts, told me that the Internet was just a bubble, nothing more. And then dot-com bubble burst. I made a decision to stop holding the stocks and sold them. Now it is impossible to assess how much money I would have gained in case I had not listened to those experts and continued holding the stocks... After many years I ended up in the same situation. And now, since I have become a more experienced individual, I am not going to listen to the advice of fools trying so hard to look knowledgeable. I am not going to repeat my mistakes.
I started trading about two years ago. I bought several cryptocurrencies and kept holding them despite market fluctuations which sometimes were tough. Of course, I modified my portfolio, disposing of garbage and buying promising cryptos. All of my surroundings were desperately screaming that I would lose my money and I had to cease to play Russian roulette. Bubble, bubble. bubble... Bubble, bubble, bubble... While trying to convince me, my friends and colleagues became obsessed with this word. Mass media started spreading the rumors about regulation, institutional investors, especially greedy bankers from Wall Street who are guilty of 2008 financial crisis, threw balls to the wall so that cryptos became less popular.
And I still continued to hold. The entire world tried to convince me to sell, and I still continued to hold. And now I can say that it was a successful strategy. I bought several major cryptos like Ether, Ripple, Iota, Litecoin and some unpopular and emerging tokens like Xaurum, Primas, and Ties. I used the experience I received during the dot-com boom, and it helped me to be patient. I cannot say that I became wealthy enough to hit the Forbes rating, but I gained pretty much money.
While other investments are becoming less and less profitable, crypto became the only sphere where you can gain a lot of money. It is time to pre-empt our seats before others have understood where the pot of gold is hidden. Blockchain is the technology that is already revolutionizing the world. And it is just the beginning. I have no doubts that this industry will show significant growth. I have no intention to test my nerves and don't want to trade. I am going to be in it very long time. And I will be successful. No, not just me. We will be successful.
-meek mitchel