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Crypto Bloodbath? I think NOT!
The Crypto markets are known for their extreme volatility but lately it has been a little too nerve wrecking or rather a bloodbath i should say. But what most people don’t seem to understand is this is completely normal!
Here are some of the financial news lines during this bloodbath. It’s barely been 24 hours and already we have posts coming up on categorizing a normal market crash into a Dotcom and Housing bubble
This is how the media works: it publishes content that sells and it uses emotion as a catalyst. Only 1% of the world holds cryptos, implying much of the world still has no clue what this really is. This lack of know-how is what the media preys upon.
Tobias Rose-Stockwell published a brilliant article on this. Read it here.
The media time and time has manipulated the markets by preying on emotions like fear and uncertainty. But this uncertainty arises due to ignorance and let me tell you one thing about ignorance.
Ignorance is Not Bliss!
Ignorance is simply ignorance bottom being lazy to try to look further.
Cryptocurrency is a bubble! It’s a sham. A ponzi scheme!
People make extreme statements like these without any facts to back it up or an understanding of how it works.
Don’t believe me? OK lets look at a few of these ‘experts’ and their predictions of the Internet.
“Remote shopping, while entirely feasible, will flop.” — Time Magazine“Cellular phones will absolutely not replace local wire systems.” — Marty Cooper, inventor.“There’s no chance that the iPhone is going to get any significant market share.” — Steve Ballmer, Microsoft CEO.
Hilarious! Isn’t it? To us today YES!
But back then statements like these formed the foundation for millions to base their belief upon. It was plain ignorance of many to completely discount the innovation of the internet.
Now let’s look At the ‘Crypto Experts’ of today!
“I can say with almost certainty that they will come to a bad ending.”— Warren BuffetWhile the concept of cryptocurrency is alluring, as its value cannot be influenced by any government, the family office will not look at investing in it,”— Venkat Subramanian, Kotak COO
Do you see the link? This feeling of ambivalence is because our belief system today is being completely opposed through the innovation of cryptocurrency.
We have grow up hard-tuned to believe there is a certain way of doing something which is considered ‘The right way’.
Now when something tries to conflict ‘The right way’ our belief system based on this gets triggered and we simply oppose it without having the slightest clue about it.
Just like people opposing the idea of internet a few decades back there will be and are many opposing the idea of a blockchain powered cryptocurrency. But although the two are different they are both innovations in their own sense.
Cryptocurrency a future of tomorrow.
Cryptocurrency is an innovative technology based on an entirely new belief system. Instead of centralizing power in the hands of a single person or groups it is decentralized. This system of decentralized payments will completely change how commerce works.
Much of the centralized do not understand it for they have firm belief in centralized trust and we see how that has worked out so far.
When the banks hold the keys only the rules that benefit them alone will be enacted. This is not a conspiracy. This is just basic fact. When an entity achieves dominance over other entities it uses and abuses that advantage in any way it can. — Daniel Jeffries read his post here
OK fine it is very futuristic and innovative, but why are you and me not using it?
This is because it the world is still getting the hang of it. Bitcoin The oldest cryptocurrency ever is only 8 years old!
What we are forgetting is cryptocurrency is still very new. Despite this there is huge potential! For the innovators and enthusiasts are pouring a lot of money and brainpower into understanding it. One thing I’ve learned is if you put your mind to it it can be done.
Every generation has the innovator(s) like Satoshi nakamoto (creator of blockchain ) changing the belief of millions through their innovations.
One thing about innovators is They push the generations to places the previous have not the slightest clue of!
We have already experienced this with Apple. Steve jobs pushed our generation to a level none of us could every imagine!
I doubt our grandparents ever thought we would use an iPhone to talk to them.
Or a webcam!
OK. But when will it BOOM?
I have not the slightest clue when this innovation is coming but i do know one thing slowly but surely sometime in the future maybe two, maybe ten this innovation is going to solve all the problems we have with it today and much more that we would’ve never imagined of.
I couldn’t find a better way of this other than Daniel Jeffries. Read it here
Actually I don’t ask you to believe anything because belief is the death of intelligence. All you need to do is look, listen with an open mind, learn and then decide for yourself.
So It’s never too late (or early) to start to understand it.
— Mark Xavier Quadros
This is my very first post on medium Thank You for the response!
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Cyptocurrency Bloodbath? I think NOT! was originally published in The Startup on Medium, where people are continuing the conversation by highlighting and responding to this story.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.