29th December 2017, 2:29 AM
I don't think people are understanding what the full potential and intent is of cryptocurrency. It's so people no longer have to be slaves to the banks and pay a third party in order to give someone else money.
Example:
My hypothetical son get stuck in Germany and doesn't have enough money to get a plane ride home. I go to my wallet and send him X amount of money right to him. No transaction fee of USD to Euro, no time gap between the transaction because of laggy third party, just a simple peer to peer network.
The problem that i see and have seen even before becoming fully invested in cryptocurrency, is that people are looking and playing it like the stock market and going in just for some quick easy cash. Bitcoin has dropped before from the thousands down to about 7-6 hundred before and no one cared because they knew it would go back up when more people became aware of it. This isn't a short term thing, this is for the long run to completely negate the banks and government from ****ing you over on your own dime.
Another thing people may not know and hopefully this will shed some light on cryptocurrency, mostly Bitcoin, is that when the stock dropped its because everyone was selling at that is either a good or bad thing depending on who you are. There are people called "Bullers" who wait for people to sell and the stock drop so that way they buy everything up for a cheaper prize.
Example:
Say Bitcoin drops from 18k down to 6k. Now those "Bullers" will buy say, 20 Bitcoin. Now with these "Bullers" buying up all the sold Bitcoin, the value goes right back up.
20 Bitcoin = 120k investment
Now Bitcoin goes up to 12k. That person just made all their money back.
120k investment = break even
Now Bitcoin goes back up to 18k.
120k investment = 120k return
Now these people will either keep the Bitcoin they earned or start selling. This will plummet down the market again and they will again buy the bitcoin at a cheaper prize. Rinse and repeat. (Sometimes and some people (Only if you have the money))
P.S Do no invest in Ripple as it is connected to the banks.
Example:
My hypothetical son get stuck in Germany and doesn't have enough money to get a plane ride home. I go to my wallet and send him X amount of money right to him. No transaction fee of USD to Euro, no time gap between the transaction because of laggy third party, just a simple peer to peer network.
The problem that i see and have seen even before becoming fully invested in cryptocurrency, is that people are looking and playing it like the stock market and going in just for some quick easy cash. Bitcoin has dropped before from the thousands down to about 7-6 hundred before and no one cared because they knew it would go back up when more people became aware of it. This isn't a short term thing, this is for the long run to completely negate the banks and government from ****ing you over on your own dime.
Another thing people may not know and hopefully this will shed some light on cryptocurrency, mostly Bitcoin, is that when the stock dropped its because everyone was selling at that is either a good or bad thing depending on who you are. There are people called "Bullers" who wait for people to sell and the stock drop so that way they buy everything up for a cheaper prize.
Example:
Say Bitcoin drops from 18k down to 6k. Now those "Bullers" will buy say, 20 Bitcoin. Now with these "Bullers" buying up all the sold Bitcoin, the value goes right back up.
20 Bitcoin = 120k investment
Now Bitcoin goes up to 12k. That person just made all their money back.
120k investment = break even
Now Bitcoin goes back up to 18k.
120k investment = 120k return
Now these people will either keep the Bitcoin they earned or start selling. This will plummet down the market again and they will again buy the bitcoin at a cheaper prize. Rinse and repeat. (Sometimes and some people (Only if you have the money))
P.S Do no invest in Ripple as it is connected to the banks.
